BTCUSD (Bitcoin) staged a stunning upside reversal around the 9,300 support area, with the price surging back above the 100-period exponential moving average (EMA) and towards two-week highs. Buyers are currently pushing efforts to overcome the 38.2% Fibonacci of 10,837 of the downleg from 13,809 to 9.011, a break of which could see the retest of the 11,130 barrier. Moving higher, the 50% Fibonacci of 11,398 could next captivate trader’s attention and trigger another bullish action towards the 61.8% Fibonacci [..]
LTCUSD (Litecoin), the fifth largest cryptocurrency by market cap, turned on a slippery road after hitting a one-year high of 143.61 in June, with the price crossing below the Ichimoku cloud, and recently under the 200-day simple moving average (SMA). The bearish cross of the 20- and the 50-day SMAs is more evidence that the downward pattern may stay in place for longer. Although the RSI is located in the oversold territory, the indicator has yet to show any sign [..]
BTCUSD (Bitcoin) breached a symmetrical triangle to the downside on Wednesday in the four-hour chart and plunged to the 9,300 support-area – a negative trend signal. The fast-Stochastics and the RSI signal, however, have bottomed in the oversold territory and are turning higher, hinting that a rebound may be around the corner. A move northward could initially pause around the 9,680 barrier and then somewhere between the 23.6% Fibonacci of 10,130 of the downleg from 13,809 to 9,011 and the [..]
The famous crypto Bitcoin came under fresh selling after slumping below the 100-period exponential moving average (EMA) and the Ichimoku cloud in the four-hour chart. According to the RSI and the Stochastics the market is fluctuating in oversold waters and hence upside corrections are likely. Still, the market may need to run comfortably above the 100-period EMA currently at 10,873, and more importantly above the 50% Fibonacci of 11,400 of the long donwleg from 13,809 to 9,011 to boost buying [..]
Bitcoin propelled out of the Ichimoku cloud and above the 100 exponential moving average (EMA) in the four-hour chart, which proved hard to breach early in July. According to the RSI, the market seems to have reached overbought conditions and is likely to experience some weakness in the short-term as the indicator moves softly around its 70 overbought mark. However, if the MACD keeps gaining ground in the positive territory, the price may continue to head higher. An upturn above the July [..]
ETHUSD has been moving with weak momentum over the last few sessions, remaining between the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. Following the rebound on 187.63, the 61.8% Fibonacci retracement level of the upward wave from 80.00 to 362.045, the technical indicators are suggesting more gains to come ahead; the stochastic is positively sloped and below the overbought zone, while the MACD is extending its upward movement towards the zero line. In the event of an upside reversal, [..]
BTCUSD opened with a noteworthy negative gap today, posting a fresh almost two-week low near 9792. The price dived below the Ichimoku cloud but is currently trying to pare some of today’s losses. The MACD oscillator is moving even lower below the zero and trigger lines, while the stochastic is holding in the oversold territory. However, the RSI indicator is heading higher, confirming the bullish move in the price action. More gains could send the price towards the 10710 resistance [..]
BTCUSD has been creating a failure swing bottom pattern and if the price jumps above the one-and-a-half-year high of 13809 would confirm the buying interest. The rebound on the 9582 support level helped the price to climb towards a two-week high of 12767, surpassing the Ichimoku cloud and the short-term moving averages. However, the RSI indicator is forming a downside move following the pullback on the 70 level, while the MACD is still increasing distance above its trigger line. More [..]
BTCUSD has come off its recent highs, with prices diving to test the 9,600 area, before finding fresh buy orders and rebounding. Yet, the price structure on the 4-hour chart now consists of lower peaks and lower troughs, while the 20-period simple moving average (SMA) has also crossed below the 40-period one, so the outlook seems to have turned cautiously negative in the immediate term. Short-term momentum oscillators agree, with the RSI still hovering slightly above 50, but pointing lower. [..]
Bitcoin – the world’s first cryptocurrency – is eyeing highs not reached since the early parts of 2018 as it almost breaks above $14,000. But as many individuals who invested in the cryptocurrency during its heydays in late 2017 celebrate its revival, has the latest rally already started to lose steam? There are several theories on what could be driving the current upswing but given the lack of transparency in the cryptocurrency market, it’s difficult to determine the exact reasons [..]
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