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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Oct 15, 2019 3:19 pm

BTC/USD

From last Monday when the price of Bitcoin was sitting at $7805 at its lowest point we have seen an increase of 12.73% measured to the highest point made on Friday which was at $8805. Since then the price started decreasing again and is currently sitting at $8333 and is now moving sideways.

Image

Looking at the hourly chart, you can see that the price attempted to move above the significant horizontal resistance level at $8500 but the attempt ended as a fakeout at least for now as the price quickly came back and in a matter of hours decreased by 5.57%.

Read more here: https://blog.fxopen.com/btc-and-xrp-are-we-seeing-the-start-of-the-recovery/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Oct 17, 2019 4:39 pm

LTC/USD

From last Wednesday when the price of Litecoin reached $59.991 at its highest point measured to today’s low at $51.864 we have seen a decrease of 13.55%. As you can see from the hourly chart below the price came up last week to the ascending channels resistance level and got rejected like expected which is why we have seen the move to the downside below it’s support level.

Image

Prior to the completion of the WXY correction, we have seen a five-wave decrease to the downside which is why this corrective structure started developing. As it ended without prolongation the next move to the downside we are currently seeing could be the start of another five-wave move which is set to push the price to some of the horizontal support levels below $50, but at the moment we are seeing that the price found support on the $52.427 level which now serves as a pivot point.

Read more here https://blog.fxopen.com/ltc-and-eos-ascending-channels-were-corrective/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Oct 22, 2019 11:36 am

BTC/USD

Last Friday, the price of Bitcoin has been sitting around $7913 at its lowest point as it was in a downtrend all throughout last week. But since the price retested the 1.272 Fibonacci level it started increasing again and managed to recover by 4.72%, coming to $8300 at its highest point today.

Image

On the hourly chart, you can see that the price increase was expected to play out as a 2nd wave out of the next five-wave move to the downside which is expected to lead the price of Bitcoin below $7000. This move to the downside should play out after the ABC correction to the upside ended but we are yet to see from the current interaction as if the price continues moving to the upside above the interacted level it could invalidate the count, especially if it comes to the vicinity of the labeled C wave.

If the price gets immediately rejected at the current levels and with showing signs of struggle indicated the candlestick on a couple of previous candles on the hourly chart, we are going to see a breakout to the downside below the 1.272 Fibonacci level and potentially on to the next one at 1.618.

Continue reading https://blog.fxopen.com/btc-usd-and-xrp-usd-showing-sings-of-bullishness/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Oct 24, 2019 12:20 pm

Best Cryptocurrency to Invest

The following ten cryptocurrencies provide the best opportunities to invest based on the performance so far during the year and on the fundamentals provided by the crypto market.

Bitcoin – The Best Crypto Out There

The “father of all cryptocurrencies”, Bitcoin hold the financial headlines when it almost reached $20000 in a matter of a few months in the late part of 2019. Created over a decade ago by the anonymous Satoshi Nakamoto, it is a digital currency used in transactions verified by network nodes using cartography and recorded on blockchain (a public distributed ledger).

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It grew in popularity so much that nowadays we talk about Bitcoin wallets, plenty of Bitcoin transactions and it is a widely accepted method of payment on both physical and online stores.

It currently trades at almost $8000 after it put a double top around the $13000 during the summer. It gained over 400% in the course of a few months from bottom to top, making it one of the major rallies in the financial markets in 2019.

By far, the most popular and well-known cryptocurrency, Bitcoin is one of the main reasons why investors and traders alike diversify their financial portfolio with digital assets. It is only normal if you think of the huge market capitalization of almost $150 billion and an immense daily trading volume of about $17 billion.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Oct 29, 2019 5:28 pm

BTC/USD

From last week’s low at $7367 the price of Bitcoin increased by 42.44% spiking to $10494 at its highest point on Saturday. Since then we have seen a retracement developing with the price currently being at its median point at around $9500.

Image

On the hourly chart we can see that the price action formed a symmetrical triangle from last weeks high above the 1 Fib level which is the horizontal support level from the first WXY correction made on the 17th of July and below which the price hasn’t declined until the 24th of September when a breakdown with strong momentum occurred leading the price of Bitcoin to $7883 or the 1.272 Fib level.

Looking at the wave structure we can see that the previous increase ended as a five-wave move to the upside. As this was an impulsive move the current structure is viewed as a retracement. Since the ending point of the last week’s spike, we have seen a five-wave move to the downside followed by a three-wave increase. This looks like the development of an ABC move to the downside which would mean that another 12345 move should develop.

I have already counted a five-wave move of the third wave but I believe that its the one of the lower degree count which means that further lows would be expected. There could be a possibility that the ABC correction ended in which case we will see a breakout to the upside above the triangle’s resistance which can serve as a pivot point.

Read more here https://blog.fxopen.com/btc-and-xrp-bullish-price-action-is-likely-to-continue/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Oct 31, 2019 6:04 pm

LTC AND EOS – IMPULSIVENESS SEEN, FURTHER INCREASE EXPECTED

LTC/USD

From last week when the price of Litecoin has been traded at $48.58 we have seen an increase of 29.53% measured to the highest point the price has been on Saturday which was at $62.93. Since then the price has started moving sideways and formed a symmetrical triangle.

Image

As you can see from the hourly chart as the final ABC to the downside ended we have seen the start of the next impulsive move to the upside. As I’ve counted five-wave the correction which has developed is likely an ABC. The price fell back to retest the $57.558 level and found support there before starting to show signs of bullishness again.

Read more https://blog.fxopen.com/ltc-and-eos-impulsiveness-seen-further-increase-expected/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Nov 05, 2019 2:20 pm

BTC/USD AND XRP/USD MOVING SIDEWAYS

BTC/USD

From yesterday’s low at $9160 the price of Bitcoin increased by 3.78% measured to the hourly candle close at its highest point today which is at around $9500. Since last Wednesday when the price came just below the 1 Fib level we have seen the formation of an ascending channel and the price retested its resistance level yesterday with a wick from the upper side of the hourly candle. As resistance has present the price started moving to the downside again and retested its support level finding support there which proved the channels’ relevance once more.

Image

As you can see from the hourly chart prior to the formation of the ascending channel we have seen a symmetrical triangle from which the price made a breakout from the downside but hasn’t gone below the significant Fib level at $9136 as it serves as support. We could have seen the completion of the ABC correction after an impulsive move to the upside ended but the C wave just came slightly above the ending point of the wave A which isn’t as assuring.

Read more https://blog.fxopen.com/btc-usd-and-xrp-usd-moving-sideways/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Nov 13, 2019 3:44 pm

BTC AND XRP – STILL IN A DECLINE WHICH IS MOST LIKELY A CORRECTIVE ONE

BTC/USD

From yesterday’s open at $9095 the price of Bitcoin has depreciated in value by 5.25% as it came to $8617 at its lowest point around which the price is currently being traded today.

Image

Looking at the hourly chart we can see that the price is retesting the descending triangle’s support level. As the price is in a downward trajectory we could see a further decline but considering that we have seen an impulsive wave prior to the formation of the descending triangle it is most likely corrective in nature which is why I would be expecting an uptrend continuation after the decline ends.

Read more... https://blog.fxopen.com/btc-and-xrp-still-in-a-decline/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Nov 15, 2019 9:32 am

LTC AND EOS – BREAKOUT SEEN BUT INCREASE SOON EXPECTED

LTC/USD

From Sunday, when the price of Litecoin was sitting at its highest point at $64.84 measured to the lowest point the price has been today which is at $58.572 we have seen a decrease of 9.67%. The price is in a downward trajectory as a breakout has been made from the ascending triangle made from the 26th of October.

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Continue reading ... https://blog.fxopen.com/ltc-and-eos-breakout-seen-but-increase-soon-expected/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Nov 19, 2019 5:11 pm

BTC AND XRP – HAS THE CORRECTION ENDED?

BTC/USD

The price of Bitcoin has decreased by 5.64% from yesterday’s open at $8568 as it’s currently being traded at $8089. The price is still in a downward trajectory as the downtrend from the 4th of November hasn’t still developed fully.

Image

On the hourly chart, we can see that the price fell to the 0.786 Fibonacci level and has retested the descending channels support line. This could indicate the potential support being found and with the wave structure pointing out the competition of the three-wave move this looks likely.

Continue reading... https://blog.fxopen.com/btc-and-xrp-has-the-correction-ended/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Nov 21, 2019 2:37 pm

LTC AND EOS – BREAKOUT MOMENTUM STILL STRONG, BUT RECOVERY EXPECTED SOON

LTC/USD

From Monday’s open when the price of Litecoin was sitting at $56.62, we have seen a decrease of 11.84% as the price fell to $52.561 at its lowest point today around which it is currently being traded. In the last couple of hours, we have seen a decreased of 4.8% with the price still being in a downward trajectory.

Image

On the hourly chart, you can see that the price continued moving below the $57.55 horizontal support level after a breakout from the ascending triangle. The level was first retested and offered to serve as support but after a corrective increase, a move below it occurred. The price is currently retesting the lower horizontal support level and judging by the wick on the buyer’s side we can see it holding at least for now.

Continue reading... https://blog.fxopen.com/ltc-and-eos-breakout-momentum-still-strong-but-recovery-expected-soon/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Nov 26, 2019 2:02 pm

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Nov 27, 2019 9:04 am

BTC AND XRP – IMPULSIVE MOVE TO THE UPSIDE INVALIDATED

BTC/USD

From yesterday’s open when the price of Bitcoin was $6618, we have seen a recovery of 11.8% today as the price came up to $7405 at its highest point today. Last week we have seen interaction with the 0.786 Fib level and the descending triangle’s support level which was the significant support point but the price broke out to the downside with strong momentum.

Image

Looking at the hourly chart, you can see that the price came down below the previous low at around $7400 which was been retested today and proven to serve as resistance which is why another minor retracement has occurred. As the price came down below the prior low it invalidated the count in which we are seeing the start of the five-wave impulse to the upside with the decrease from the 26th of October being viewed as the 2nd wave.

Continue reading https://blog.fxopen.com/btc-and-xrp-impulsive-move-to-the-upside-invalidated/
Last edited by FXOpen_broker on Tue Dec 03, 2019 3:43 pm, edited 1 time in total.
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Dec 03, 2019 3:41 pm

BTC AND XRP – HAVE WE SEEN A LEADING DIAGONAL?

BTC/USD

From last week’s high at $7860 made on Friday measured to the lowest point the price has been yesterday at $7257.7 we have seen a decrease of 7.67%. The price is currently being traded at $7311.9 slightly higher then yesterday but is mostly hovering around the same horizontal range.

This could be interpreted as a consolidation range especially after a minor retracement especially considering that the price volatility has diminished.

Image

Looking at the hourly chart, you can see that the price bounced from the 1.272 Fibonacci level like expected and started increasing impulsively to the upside in a five-wave manner coming to retest the descending trendline which is the resistance level out of the descending channel from Jun. As the price found resistance there a retracement occurred below the prior low at $7442 but above the interrupted ascending trendline from the baseline support dating from February which is a good sign.

Read more here...https://www.fxopen.blog/btc-and-xrp-have-we-seen-a-leading-diagonal/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Dec 05, 2019 1:50 pm

LTC AND EOS – CORRECTIVE RETRACEMENT OR DOWNTREND CONTINUATION?

LTC/USD

From Sunday when the price of Litecoin was sitting at $49.551 we have seen a decrease of 11.23% measured to its lowest point today at $43.898. The price is currently being traded at $44.914 and is retesting the horizontal support for resistance as you can see from the hourly chart below.

Image

On the hourly chart, you can see that the price of Litecoin has retraced back almost to its prior low at $43.6 but hasn’t made an interaction with the 1.272 Fibonacci level. Instead after yesterday’s low the price spiked to the upside back to the 1 Fib level before again falling back down to the same level.

Continue reading... https://www.fxopen.blog/ltc-and-eos-corrective-retracement-or-downtrend-continuation/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Dec 10, 2019 3:55 pm

BTC AND XRP – BREAKOUT TO BE EXPECTED SHORTLY, BUT FROM WHICH SIDE?

Image

BTC/USD

From yesterday’s high at $7592 the price of Bitcoin has decreased by 3.55% as it came down to $7322 at its lowest point today. It’s currently being traded at $7377 which is slightly higher with the price being stuck in a resistance range.

Image

On the hourly chart, you can see that the price is inside the apex of the symmetrical triangle formed by the interrupted ascending trendline and the descending channels resistance level. The price is retesting both levels and is why it’s stuck in this range so a breakout would be expected shortly.

Continue reading... https://www.fxopen.blog/btc-and-xrp-breakout-to-be-expected-shortly-but-from-which-side/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Dec 12, 2019 5:49 pm

LTC AND EOS – IS REVERSAL SOON TO START?

LTC/USD

The price of Litecoin has been decreasing through the previous period and fell back to the levels of the prior low at $43.6 around which it is currently being traded. From last Thursday we have seen an increase which resulted in a lower high at $46.3 after which the price continued moving to the downside and formed a lower low. These price movements have formed a descending triangle whose apex points out at the next significant horizontal level below the 1.272 Fibonacci one.

Image

On the hourly chart, you can see that this triangle is most likely an ending diagonal from the impulse move to the downside made from the 10th of November when the price of Litecoin was sitting at $64.832. The mentioned high is considered the ending point of the B wave from a higher degree count and is why after the completion of the currently seen down move I would be expecting a trend reversal.

Continue reading... https://www.fxopen.blog/ltc-and-eos-is-reversal-soon-to-start/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Dec 17, 2019 3:26 pm

BTC AND XRP – INTERACTION WITH KEY SUPPORT MADE, RECOVERY COMING SHORTLY

BTC/USD

From yesterday’s high at $7193 the price of Bitcoin decreased by 4.07% today as it came down to $6905 at its lowest point. The price is currently still being traded around those levels with the price resting at the horizontal level in proximity.

Image

On the hourly chart, you can see that the price fell back to the projected level at around $6914 which is presumed to be the C wave out of the lower degree ABC correction and projected with the A wave’s length. This is the B wave of a higher degree as the second corrective wave after the leading diagonal retested the 1.272 Fibonacci level. In theory, it could go below the previous low but considering the significance of the horizontal support level which is currently being retested, I don’t believe that it will go much further.

We are yet to see if the support level holds but if it does I would be expecting the start of the C wave to the upside which is to lead the price of Bitcoin retesting some of the significant resistance levels. The furthers one would be the descending channel’s resistance which would bring the price above $8000. But is this is considered as a corrective three-wave move to the upside this recovery would be short-lived as another three-wave move to the downside would be expected.

Continue reading... https://www.fxopen.blog/btc-and-xrp-interaction-with-key-support-made-recovery-coming-shortly/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Dec 19, 2019 1:49 pm

LTC AND EOS – HAS THE EXPECTED RECOVERY STARTED?

Image

LTC/USD

From Monday’s open at $43.46 the price of Litecoin has decreased by 16.8% as it came down to $36.153 at its lowest point yesterday. Fr0m yesterday’s low we have seen a spike to the upside which recovered the price by around 15.4% as the price came up to $41.7 at its highest today.

Image

Looking on the hourly chart, you can see that the price broke out from the descending triangle with strong bearish momentum pushing the price below the significant horizontal level at $41.7. The recovery seen after, pushed the price to its vicinity and has retested it for resistance which was clearly there, as the interaction ended as a rejection.

Continue reading... https://www.fxopen.blog/ltc-and-eos-has-the-expected-recovery-started/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Dec 24, 2019 1:35 pm

BTC AND XRP – INCREASE COULD BE CORRECTIVE

BTC/USD

From last Wednesday when the price of Bitcoin was $6484 at its lowest point we have seen an increase of 18.67% as the price came up to $7694 at its highest point yesterday. Since yesterday’s high the price started pulling back and is currently sitting at around $7360 level.

Image

On the hourly chart, you can see that the price of Bitcoin fell below the significant horizontal level at $6914 on the way down and continued moving to the prior low vicinity around $6600. This is considered as a B wave from the ABC correction to the upside after which an impulsive C wave was expected. Indeed we have seen an impulsive move to the upside developing after a retest of the prior low but the price hasn’t come up to retest the descending channels resistance level as expected before starting another downturn.

Continue reading... https://www.fxopen.blog/btc-and-xrp-increase-could-be-corrective/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Dec 26, 2019 2:19 pm

LTC AND EOS – STARTING IMPULSE OR A C WAVE?

LTC/USD

From last Wednesday when the price of Litecoin fell to $36.79 at its lowest point, measured to Monday’s high at $42.56 we have seen an increase of 15.68%. Since Monday’s high the price has been in a downward trajectory and is currently being traded around its lowest of the week which is at around $40.

Image

Looking at the hourly chart, you can see that the price broke down from the descending triangle last week with strong bearish momentum indicating impulsiveness. The price fell below 1.618 Fibonacci level but as it entered the buyer’s territory, buying was activated and we have seen a recovery close to the vicinity of the resistance level from the descending triangle. This could be interpreted as a retest of its support for resistance especially considering that the price came only for a short while above $41.7 horizontal level. Resistance was found as seen on the chart, which is why another downside move has been seen.

Continue reading.... https://www.fxopen.blog/ltc-and-eos-starting-impulse-or-a-c-wave/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Jan 14, 2020 2:27 pm

BTC AND XRP – RETRACEMENT EXPECTED

BTC/USD

The price of Bitcoin has increased by around 10% from last Friday when it was sitting at $7712 at it’s lowest point as it came up to $8536 at it’s highest today. The price is currently sitting at $8493 as it reached its key horizontal level at $8506 and is retesting it from the downside.

Image

Looking at the hourly chart, you can see that this increase was expected after a retest of the prior low in a five-wave manner which was presumed to be the C wave out of the next ABC to the upside out of which the A wave was presumed to be the leading diagonal we have seen in the second half of December.

Continue reading... https://www.fxopen.blog/btc-and-xrp-retracement-expected/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Jan 16, 2020 1:53 pm

LTC AND EOS – EXPONENTIAL GROWTH COMING TO AN END?

LTC/USD

From the 3rd of January when the price of Litecoin was sitting at $38.9 we have seen an increase of over 52% as it came to $59.34 at its highest point yesterday. Currently, the price is being traded slightly lower at around $55.6 as the price started moving to the downside again.

Image

Looking at the hourly chart, you can see that the price of Litecoin started increasing exponentially after an interaction with the $49.23 horizontal level which formed another steeper ascending trendline. As we have most likely seen the completion of the Y wave from the WXY correction of a higher degree the increase was seen is the start of a higher degree recovery to the upside.

Continue reading... https://www.fxopen.blog/ltc-and-eos-exponential-growth-coming-to-an-end/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Jan 24, 2020 9:49 am

EOS/USD AND LTC/USD – FURTHER DECLINE EXPECTED

EOS/USD

The price of EOS has decreased back to the levels of Monday’s low as it came down by 4.81% to $3.496 at it’s lowest point today. It is currently being traded slightly above $3.5 mark but is struggling to make any movements and is stuck in a tight range. This is indicated by the wicks on the hourly candles from both sides which you can see from the hourly chart below.

Image

From the yearly high at $4.05 which was made on the 14th of January the first time and later retested on the 17th, we have seen a decrease of 15.7% measured to the Sunday’s low at $3.42. This amount of decrease in combination with the wave structure and the impulsiveness seen, especially on Sunday implies that the correction of a higher degree started with the mentioned decline of over 15% being its first wave.

Continue reading... https://www.fxopen.blog/eos-usd-and-ltc-usd-further-decline-expected/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Jan 28, 2020 4:12 pm

BTC AND XRP – IS THE INCREASE CORRECTIVE?

BTC/USD

From last Friday when the price of Bitcoin was sitting at $8261 at its lowest point, we have seen an increase of over 10% as the price reached $9149 at its highest today. The price is currently being traded slightly lower but is still above $9000.

Image

Looking at the hourly chart, you can see that it reached the 1 Fibonacci level at the vicinity of the prior high and was stopped out by the significant level, founding resistance there. The pattern from the 24th of January till today looks similar to the correction of a higher degree from June last year. This is why I would presume that the five-wave impulse has ended and that we are seeing the second corrective structure after it’s completion.

Continue reading https://www.fxopen.blog/btc-and-xrp-is-the-increase-corrective/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Jan 30, 2020 1:32 pm

LTC AND EOS – IS THE INCREASE ENDING?

Image

LTC/USD

Since the start of the week, the price of Litecoin has been increasing and has come up from $55.84 at it’s lowest point to $62.86 at it’s highest which is an increase of 12.57%. The price is currently being traded around the levels of today’s high but is starting to show the signs of struggle to keep up the upward momentum.

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On the hourly chart, you can see that the price today came up to the vicinity of the prior high and has tested the 0 Fibonacci level, finding resistance there on the quick spike to the upside. This indicates that the horizontal level serves as a strong resistance and is likely to continue doing so. After a decrease of 18.8% made last week, ending at the 0.786 Fib level, which is considered the 4th wave out of the five-wave impulse we have seen an increase of 23.13% which could be the 5th wave. As the price came up to the prior high this 5th wave could be completed or it could continue for another attempt and eventually wick above it, but is likely to end soon.

Continue reading... https://www.fxopen.blog/ltc-and-eos-is-the-increase-ending/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Feb 11, 2020 3:00 pm

BTC AND XRP – RETRACEMENT SOON EXPECTED

BTC/USD

The price of Bitcoin has reached it’s highest point this year yesterday, coming to $10163 but since then made a minor retracement of around 4.3% as it fell to $9726 at it’s lowest point today. Currently, the price is being traded at around $9774 which is slightly higher then it’s lowest point today and is hovering around those levels most likely retesting it’s support.

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On the hourly chart, you can see that the price reached the same levels as the impulsive spike to the upside made on the 26th of October last year which is at the 0.786 Fibonacci level which served as a strong resistance point. Now the level repelled the price again which is why we have seen a minor retracement but if this was the end of the increase that started from the begging of the year the price could be headed further to the downside.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Feb 13, 2020 1:45 pm

LTC AND EOS – FURTHER ROOM FOR GROWTH?

LTC/USD

From yesterday’s open at $76.669 the price of Litecoin has increased by 9.63% measured to it’s highest point today which was at $84 but since then made a decline of 8.19% coming to $77.16 at it’s lowest point today. Currently, the price is being traded around $79 and is attempting to make up for the loss made inside the hourly trading session leaving wick on the current candle.

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As you can see from the hourly chart, the price has managed to hold above the $78.442 horizontal level which serves as a support point. The horizontal level isn’t as significant as the next to the upside at $84.334 with whom the price made an interaction today and tested it for resistance. Strong resistance has been indicated at the mentioned level since the price made a steep downfall after the interaction which is why I don’t believe that the interaction with the next more significant one at $86.48 will be made before the downturn starts.

Continue reading... https://www.fxopen.blog/ltc-and-eos-further-room-for-growth/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Feb 18, 2020 2:25 pm

BTC AND XRP – FURTHER DOWNSIDE EXPECTED

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BTC/USD

The price of Bitcoin has been in a decline since last Thursday when it came up to $10466 at it’s highest point. From there we have seen a decrease of 8.8% as it came down to $9546 at it’s lowest point yesterday. Currently, the price is being traded slightly higher than yesterday and is sitting at $9705.

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On the hourly chart, we can see that the price came down to retest the ascending trendline from the start of the increase last year in December and has found support there. As we have seen a bounce off of the trendline the currently seen move is most likely further retest of its support so further testing would be expected to occur.

Continue reading... https://www.fxopen.blog/btc-and-xrp-further-downside-expected/
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Feb 20, 2020 1:31 pm

LTC AND EOS – CORRECTION DEVELOPING

LTC/USD

From yesterday’s high at $78 the price of Litecoin has decreased by 10.51% as it came down to $69.82 at it’s lowest point today. The price is currently being traded around those levels as it’s attempting to establish some support.

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Looking at the hourly chart, we can see that the price came down to the ascending trendline and retested its intersection with the $69 horizontal level with a spike but the hourly candle closed above it leaving a large wick to the downside. This indicates that support is present at those levels but this might not be for much longer as we have seen strong bearish momentum since yesterday.

Continue reading... https://www.fxopen.blog/ltc-and-eos-correction-developing/
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