Cryptocurrency analytics (Bitcoin, Litecoin, Ethereum, Dash)

[FXOpen]

BTC/USD

The price of Bitcoin has been stuck in a horizontal range since last Monday when it fell to $7758 with strong bearish momentum which is the support level of the mentioned range and retested the $8500 level which is its resistance. This horizontal range could be interpreted as a consolidative range after a breakout has been seen from the descending triangle but it is still unclear whether or no the price headed further to the downside from here or are we going to see the recovery starting soon.



On the hourly chart, you can see that the price of Bitcoin made a three-wave move from the presumed X wave of the 3rd WXY correction. The downfall might have ended on the 3rd wave but considering the impulsiveness seen it more likely that we are in for another low as the price action could develop in a five-wave manner.

Read more about BTC/USD and XRP/USD rates on FXOpen forex and cryptocurrency blog

[FXOpen]

LTC/USD

From Monday’s low at $53.83 the price of Litecoin has increased by 11.3% measured to the highest point the price has been yesterday which is at $59.939. Currently the price is being traded slightly lower at $57.9 as the price reached started decreasing from yesterday’s high.



On the hourly chart, you can see that the price has decreased as a result of the resistance rejection which was made yesterday with the ascending channel’s upper level in which the price has been consolidating since the 27th of September. Looking at the wave structure from the 27th’s low we have seen 3 three-wave corrections playing out which could be a WXY correction of a higher degree in which case yesterday’s interaction would be its ending wave.

Read more on FXOpen blog.

[Wasimalik]

you guys only can guess, in reality nobody knows where btc will head. i hope it will go up and further.

[FXOpen]

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.



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%.

Please read more here

[FXOpen]

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.



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

[FXOpen]

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.



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...

[FXOpen]

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).



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.



Continue reading...

[FXOpen]

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.



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.

Continue reading https://blog.fxopen.com/btc-and-xrp-bullish-price-action-is-likely-to-continue/

[Delgboke]

That's good move anyway but my concern here is what is the possibilities that it will continue to the extend that the price of bitcoin will affect all other alts, so that many alts will not just die off in the cryptocurrency market, although is a good thing that bitcoin is increasing but let it be seen also in other alts so it will be balance equation.

[FXOpen]

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.



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.

Continue reading https://blog.fxopen.com/ltc-and-eos-impulsiveness-seen-further-increase-expected/

[FXOpen]

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.



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.

Continue reading https://blog.fxopen.com/btc-usd-and-xrp-usd-moving-sideways/

[FXOpen]

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.



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.
 
Continue reading... https://blog.fxopen.com/btc-and-xrp-still-in-a-decline/

[FXOpen]

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.



Continue reading ...https://blog.fxopen.com/ltc-and-eos-breakout-seen-but-increase-soon-expected/

[FXOpen]

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.



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/

[FXOpen]

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.



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/