Cryptocurrencies

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Technical Analysis – BTCUSD still stuck below 23.6% Fibonacci; bearish outlook

Posted on January 3, 2019 at 1:52 pm GMT

BTCUSD has been moving sideways after it found strong support at the 3116.15 barrier on December 14. The price holds within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, while the RSI indicator stands around the neutral level and is pointing slightly up. Moreover, the MACD oscillator is losing momentum near the zero line. Resistance could occur around the 23.6% Fibonacci retracement level of the downleg from 6508 to 3116.15 of 3912.40. Slightly above this area, the [..]

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Technical Analysis – ETHUSD rallies above moving averages; still negative in long term

Posted on December 19, 2018 at 2:29 pm GMT

ETHUSD has been strengthening its upside momentum over the last few sessions after the bounce off the 19-month low of 80. The price rose above the bullish cross of the 20-simple moving average (SMA) and the 40-SMA in the 4-hour chart. From the technical point of view, the indicators are moving higher with the RSI standing in the overbought area and the MACD oscillator holds above its trigger and zero lines. In case of a jump above the 106 significant resistance level, this would open the way towards [..]

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Technical Analysis – BTCUSD bearish outlook does not change in short and long term

Posted on December 12, 2018 at 12:44 pm GMT

BTCUSD rebounded on the 15-month low of 3187 and is currently picking up speed above the 20-simple moving average (SMA) in the 4-hour chart. The RSI turned higher but remains in the negative territory. At the moment, it continues to head higher in support of a slightly positive short-term picture. The bias in the very-short-term also looks bullish somewhat as indicated by the MACD, which holds above the trigger line. Resistance could occur around the 40-simple moving average (SMA), which overlaps with [..]

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Technical Analysis – BTCUSD continues bearish sentiment; ready to finish year in red

Posted on December 5, 2018 at 10:31 am GMT

BTCUSD is extending its losses and is currently trading not far above the 14-month low of 3490 hit on November 26. The price fell below the bearish cross between the 20- and 40-simple moving averages in the 4-hour chart. The stochastic oscillator is heading lower towards the oversold territory; however, the RSI indicator is turning slightly higher in the bearish zone. Should the pair stretch south, the multi-month low of 3490 could provide immediate support before the pair slips lower. A significant [..]

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Technical Analysis – ETHUSD rebounds on 18-month trough; maintains sell-off sentiment in long term

Posted on November 28, 2018 at 2:55 pm GMT

ETHUSD has been strengthening its upside momentum over the last couple of days after the bounce off the 18-month low of 97.85. The price rose above the 20-simple moving average (SMA) and is approaching the 40-SMA in the 4-hour chart, while from the technical point of view the indicators are moving higher. The RSI indicator is moving higher, surpassing 50 level and the MACD oscillator holds above trigger line but it remains below zero line. In case of a jump above the [..]

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Technical Analysis – BTCUSD plunges to 16-month low; strong negative sentiment in long-term

Posted on November 26, 2018 at 11:47 am GMT

BTCUSD plummeted to a new 16-month trough of 3814 earlier today, continuing the strong sell-off sentiment of the previous couple of weeks. The RSI and the MACD have both weakened, with the former remaining in the oversold zone and the latter easing below its red signal line. Downside risks persist as both indicators continue to fluctuate in bearish territory. If the market manages to pick up speed to post more losses, support could be found around the 3500 region, taken from the low in September [..]

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Cryptos crumble as regulators “tighten the screws” – Cryptocurrency News

Posted on November 22, 2018 at 4:13 pm GMT

The cryptocurrency universe experienced another meltdown last week, with Bitcoin breaking critical support to touch 13-month lows amid signs US regulators are set to toughen their stance towards digital currencies and Initial Coin Offerings (ICOs). While there may be some more pain in store for coin prices in the short run as greater regulatory scrutiny raises compliance costs, to the extent that this helps legitimize the industry, it could pay dividends down the road. Most cryptocurrencies are still licking their [..]

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Technical Analysis – BTCUSD tumbles to 1-year low; posts strong losses

Posted on November 19, 2018 at 2:32 pm GMT

BTCUSD formed a fresh one-year trough today and is set to complete the eighth negative day in a row. The RSI and the MACD have both weakened, with the former dropping even lower in the oversold zone and the latter easing below its red signal line. Downside risks persist as both indicators continue to fluctuate in bearish territory; the RSI below 30 and the MACD below zero. Should the market extend losses, support could be met around the 4910 region, taken from the lows on [..]

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Technical Analysis – BTCUSD tests key support at 6,073; bearish but oversold

Posted on November 14, 2018 at 3:53 pm GMT

BTCUSD is trading in a clear downtrend on the four-hour chart, printing lower highs and lower lows below the November 7 peak of 6,511, the highest mark registered since October 15. The MACD keeps increasing downside momentum in negative zone and below its red signal line, flagging further weakness ahead, though the RSI suggests that the bearish rally could soon come to an end as the market has already breached the 30 mark to enter the oversold territory. A rebound in the price may find [..]

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Technical Analysis – ETHUSD loses momentum again below moving averages

Posted on November 12, 2018 at 2:04 pm GMT

ETHUSD is losing momentum over the last couple of days after the bounce off the upper Bollinger Band at 220. The price declined below the 20- and 40-simple moving averages in the 4-hour chart, while from the technical point of view the indicators are standing near their neutral levels. The RSI indicator is moving near the threshold of 50, while the MACD is weakening close to zero line. In case of a jump above the moving averages, this would open the way towards [..]

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