The Bulls Have Saved ETHEREUM — For Now!
Welcome to this updated analysis on Ethereum! Let's get right to it! Looking at the four-hour chart, you can see that we're zoomed into the right shoulder of the large head and shoulders pattern on the chart. This is because we have an interesting development that is emerging right now. As you can see, ETH has rallied with the rest of the crypto space, and it is actually trading slightly above the neckline resistance (in red.) Now that we're back inside of the right shoulder, we could see a continuation into higher resistance levels, such as the 50 EMA (in orange) and then the...
Technical Analysis: Another Rally Attempt Starts as Bitcoin Recovers above $10,000
As the correction in the cryptocurrency segment lost momentum during the weekend, several major coins started to show signs of accumulation, and today, a broad rally carried most of the top currencies well above the correction lows. While the sector is still not out of the woods, today’s advance confirmed the positive signs that we have been monitoring throughout the pullback. For now, there are still strong resistance zones ahead of the top coins and the broad declining trend is still intact in Bitcoin, Ethereum, Ripple, and most of the smaller altcoins as well. That said, we remain bullish regarding the...
Trade Recommendation: Dash
The Dash/Bitcoin (DASH/BTC) pair started its uptrend on December 20, 2017 when it broke out of a bullish reversal pattern after taking out 0.075 resistance. The next day, it went as high as 0.09199600, but at this point, the market was near overbought territory. The 40% growth from December 20th’s opening of 0.06541019 was enough for market participants to take profits. // -- Discuss and ask questions in our Facebook Group With increased selling pressure, the market broke below 0.075 and went as low as 0.06270017 on January 6, 2018. As market participants sensed a higher low was in place, the...
Technical Analysis: Bitcoin Tops $10,000
The cryptocurrency market continued to heal considerably, as the major coins keep on successfully tackling resistance levels following a very deep sell-off that shaved off more than 60% of the market value of the segment. The sector is now back near the $500 billion mark in market capitalization, but investors shouldn’t get complacent here, as corrections will come along the rally, and the dominant downtrend is intact in most cases, with BTC being no exception. With that in mind, today might not be the best time to open new positions, even as BTC could still get to the next resistance level...
Trade Recommendation: district0x/Bitcoin
The district0x/Bitcoin (DNT/BTC) market kick started its uptrend on December 31, 2017 when it broke out of a bullish reversal pattern at 0.000009. Its momentum was so strong that even though it was in oversold territory during the breakout, it continued to skyrocket. The market reached as high as 0.00002980 on January 6, 2018 before bears took over. In about a week, the DNT/BTC pair grew by an astounding 231%. // -- Discuss and ask questions in our Facebook Group The market closed below 0.000024 on the same day as profit-taking became the theme. While the pair tried to claim 0.000024...
Trade Recommendation: Agrello(DLT)/Bitcoin(BTC)
The Agrello/Bitcoin (DLT/BTC) market ignited its bull run on December 31, 2017 after the market broke out of a bullish inverse head and shoulders pattern at 0.000035. The breakout was so strong that it went as high as 0.00013098 on January 11, 2018. The market grew by 274.23% in less than two weeks, which prompted breakout buyers to take profits. // -- Discuss and ask questions in our Facebook Group Faced with heavy selling pressure, the market retreated to as low as 0.00004505 on January 16. While the pair bounced and reached 0.000088 on January 20, sellers quickly exploited the...
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