Cryptocurrencies

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Bitcoin takes off again; how high will it go this time? – Cryptocurrency News

Posted on July 2, 2019 at 7:48 am GMT

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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Technical Analysis – ETHUSD flies towards 11-month high; strongly positive

Posted on June 26, 2019 at 1:31 pm GMT

ETHUSD skyrocketed towards a new eleven-month high of 346.57 earlier today, holding well above the 20- and 40-simple moving averages (SMAs) in the 4-hour timeframe. Momentum indicators are standing in the positive area in the 4-hour chart with the MACD just above the trigger line and the stochastic oscillator looking overstretched above the 80 level. In the event of an upside reversal, the 352 resistance level could act as a barrier, registered on April 2018. A break above this level would open [..]

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Technical Analysis – BTCUSD continues bullish rally at 15-month high

Posted on June 25, 2019 at 1:05 pm GMT

BTCUSD is testing a new 15-month peak of 11,427, creating a strong bullish rally over the last three weeks.  While the slowdown in the red Tenkan-sen and the blue Kijun-sen lines could be a warning sign that the bullish action may soon fade, the market could chart another rally if the MACD continues to trend higher and rises above its red signal line. The RSI is hovering in the overbought zone as well. If there’s a cross above today’s high, nearby resistance could be detected around 11,660 taken from the peak on March 2018.  [..]

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Technical Analysis – BTCUSD bulls rest below 38.2% Fibonacci

Posted on June 20, 2019 at 12:54 pm GMT

Bitcoin is stubbornly testing the 38.2% Fibonacci ratio of the long 19,384-3,187 bearish wave for the fourth consecutive session that the bulls failed to successfully breach a year ago. While the slowdown in the red Tenkan-sen and the blue Kijun sen could be a warning sign that the bullish action may soon fade, the market could chart another rally if the MACD continues to trend higher and above its red signal line. Crossing above the 38.2% Fibo of 9,331, nearby resistance could be detected around [..]

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Technical Analysis – ETHUSD rebounds, surpassing 23.6% Fibonacci

Posted on June 10, 2019 at 1:30 pm GMT

ETHUSD has reversed back up after finding support at the 225 level, achieved earlier today. Momentum indicators are pointing to a positive bias in the 4-hour chart with the MACD just above trigger line and the stochastic oscillator is approaching the 80 level as the %K line is heading above the %D line. In the event of an upside reversal, the 253 resistance level could act as a barrier before being able to re-challenge the 270 obstacle. A break above [..]

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Technical Analysis – BTCUSD slips sharply; could weaken further in short-term

Posted on June 4, 2019 at 9:47 am GMT

BTCUSD started the day sharply on the downside, moving closer to the bottom of the Ichimoku cloud and further below the 20- and 40-period simple moving averages (SMAs) in the 4-hour chart. The technical indicators are confirming the latest tweak as the MACD is strengthening its bearish momentum and the RSI is approaching the oversold zone. In case of further bearish action, immediate support could come from the 7590 barrier and the 38.2% Fibonacci of 7500. If there is a close below the latter the bitcoin could find another obstacle between the 7145 support level and [..]

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Technical Analysis – BTCUSD drops below 1-year low; indicators turn lower

Posted on May 28, 2019 at 11:19 am GMT

BTCUSD is declining after the sharp buying interest towards the one-year high of 8920.80 on Monday. Looking at momentum indicators, the RSI is lacking direction slightly below the threshold of 70, suggesting that the market could return lower in the near term. The MACD also supports this view in the positive territory and is currently embraced by its red signal line. In case of further bearish action, immediate support is coming from the 8360 barrier, taken from the peaks on May 16. If there [..]

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Technical Analysis – ETHUSD lacks direction in near term; positive profile in medium term

Posted on May 21, 2019 at 1:04 pm GMT

ETHUSD has been on the sidelines over the last week as the price struggle near the 20-simple moving average (SMA). Technically, the price could lose some ground in the short-term as the RSI is changing direction to the downside and is moving towards its 50 neutral mark, while the stochastics are creating a bearish cross within %K and %D lines. A rebound on the 20-day SMA should drive the price towards the 263.60 resistance level. Higher up, the eight-month high of 279.20 could attract attention. [..]

Technical Analysis – BTCUSD pares some gains after reaching 11-month high

Posted on May 16, 2019 at 6:56 am GMT

BTCUSD skyrocketed to a fresh eleven-month high of 8360 earlier today, but it quickly pared some of the gains, returning lower near the 20-simple moving average (SMA) in the 4-hour chart. The price is capped by the red Tenkan-sen line, suggesting a possible bearish correction while the technical indicators are also pointing down. The stochastic oscillator bounced off the overbought territory and the MACD slipped beneath its trigger line and is losing momentum. In case of further bearish action, immediate [..]

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Bitcoin goes ballistic; are the good days back? – Cryptocurrency News

Posted on May 15, 2019 at 3:18 pm GMT

Bitcoin prices have exploded higher lately, gaining over 50% this month, echoing the exponential moves back in its ‘heydays’. The latest buying frenzy seems owed to a combination of Chinese capital flight, growing retail adoption, and increasing institutional interest. In the big picture, sentiment around cryptos seems to be changing for the better. Digital currencies are back in vogue, with Bitcoin seeing an explosive rise once again, albeit without a clear catalyst. A combination of factors seems to have been [..]

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