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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...
Technical Analysis: Bitcoin Still Pushing Higher as Altcoins Mixed
The day that kicked off in a bullish fashion for cryptocurrencies turned slightly negative for the majority of the coins in the second half of the session, as US stock markets re-opened after the long weekend. Bitcoin, Ethereum Classic, and Litecoin were the early leaders of the segment, but only the most valuable coin stayed bullish throughout the session, as both LTC and ETC ran into resistance in the second half of the day. BTC, which was boosted by the positive news regarding the Bitcoin Core Wallet’s SegWit introduction, topped $11,700 for the first time in more than a month, and...
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...
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