#1 Source For Bitcoin And Altcoin News
Bitcoin price on Tuesday appreciated as much as 2.88 percent against the US Dollar. The BTC/USD is trading at 6326-fiat at the time of this reporting. The pair opened the day forming lower lows towards 6229-fiat. There was already a minor uptrend in place on a bounce back from 6205-fiat from yesterday. However, BTC/USD lacked
The post Bitcoin Price Intraday Analysis: BTC/USD Hinting Reversal towards $ 6500 appeared first on CCN
Bitcoin (BTC) has historically seen a bullish reversal in the month of September. The weekly chart for BTC/USD shows that during its entire trading history on Coinbase, Bitcoin (BTC) has started a rally in September every single time. As Bitcoin (BTC) has already been through a correction, we should see three more of similar September rallies before the next correction. Between September 2015 and September 2016, Bitcoin (BTC) rallied but not as vigorously as during the rally that followed it.
Cryptocurrency prices are back on the mend after a great majority of digital assets plunged last week losing 10-20 percent or more in value. Since then, the digital currency economy has regained some strength bouncing back from a low of US$ 186 billion to $ 205 billion on Saturday, September 15.
Also read: Test Driving the Money Button — Simple Enough for a 9-Year Old
The price of Ethereum (ETH) has been highly volatile over the past few weeks of trading, dropping from nearly $ 300 to as low as $ 170 before settling around $ 220.22 currently. However, Ethereum bulls may have regained some momentum as the price of ETH has bounced more than 25% off lows on what appears to be one […]
SludgeFeed
Chart for ETH/USD (1D)
Ethereum (ETH) has entered the same phase as it was in back in 2017 when the price consolidated before a big run up. A lot of investors have been expecting an explosive Q4 for cryptocurrencies since the beginning of this correction. The current price action confirms that could be the case as Ethereum (ETH) has now entered in a consolidation phase after completing an extensive correction. The price is expected to consolidate all the way till mid September before beginning a new cycle.
Continue reading Ethereum (ETH) Likely To Consolidate Before A Trend Reversal at Crypto Daily™.
Litecoin (LTC) is trading in a falling wedge with the possibility of a breakout in the weeks ahead. The above daily chart for LTC/USD shows that Litecoin (LTC) has almost reached the extent of its movement within the falling wedge against the US Dollar (USD) and is now likely to test the downtrend resistance. However, before testing the downtrend resistance, it will have to break past the 21 EMA which has served as a support turned resistance since the beginning of the correction.
Bitcoin (BTC) is about to complete a 69.81% correction just as it did back in October 2014. What remains to be seen now is whether Bitcoin (BTC) will follow the exact same pattern as in 2014 or trade differently. The above monthly chart for BTC/USD shows that even the EMA alignment in both cases is the same. The lower half of the above chart shows a chart for EUR/USD which demonstrates the striking similarities between strength of the EUR/USD pair and Bitcoin (BTC).
Ethereum Classic (ETC) has just formed a bullish hammer candlestick on the daily ETC/USD chart above, which followed by a green candle is a strong sign of a downtrend capitulation as it indicates that the bears have finally given up. This marks the beginning of a new cycle for Ethereum Classic (ETC) as a reversal is expected from these levels. The solid support of $ 10 has served as a historical demand zone for Ethereum Classic (ETC), and is a very strong one.
At last some excitement! Yesterday Bitcoin leapt nearly 12% in 24 hours but what’s behind the rally? Could it be the BlackRock and Coinbase news or is it purely fundamental?
What a rollercoaster ride! Earlier this week Financial News London reported that the world’s largest ETF provider, BlackRock, had cast its gaze to Bitcoin and other cryptocurrencies as potential investments but before the news even had the opportunity to impact cryptocurrency prices, BlackRock CEO, Larry Fink came out, denying the news and labeling it as hogwash. Then later in the day, Coinbase retracted their supposed SEC approval announcement, claiming to have jumped the gun.
In our previous discussion, a strong possibility for a retest of the low volume spring was noted as the market was beginning the early stages of an inverted head-and-shoulders (H/S) reversal (sometimes called a head-and-shoulders bottom). A couple days ago, shortly after testing the left shoulder of the head-and-shoulders reversal (H/S), the market reacted strongly and the price jumped several hundred dollars:
Figure 1: BTC-USD, 1-Day Candles, H/S Bottom
Follow me on Steemit and earn crypto for your best comments: https://steemit.com/@marketingmonk
Story – Bitcoin Reversal Aborted?
Draw head and shoulders and narrate the components
Draw horizontal line where the neck needs to break
Draw horizontal line where the shoulder set a higher low (good!)
Story – When Moon?
Load saved chart templates
Double click the clean chart up
Show trend line bounce is also right shoulder
Show 50 EMA support
Show 50% fib level support
Highlight 16.5k as key resistance
Mention downtrend line on lower highers forming wedge
Bulls looking stronger than bears
