COKE 4H BUYCOKE 4H support is at ~$0.28
Enter 50% at the current price
and try to set some buy orders near the support zone
If COKE holds above the trendline,
the Take-Profit target would be 5%, 10%, and 15% from your entry
Cheers
Bitcoke
BITCOKE 15m BUY (SHORT-TERM)COKE 30m support is at ~$0.87
Enter 50% at the current price
and try to set some buy orders near the support zone
If COKE holds above the trendline,
the Take-Profit target would be 5%, 10%, and 15% from your entry
Cheers
XRP still has large downside room aheadHi followers. This is an analysis of Ripple in the intermediate-long term timeframe.
Basically, XRP follows the general trend of the crypto market, and right now it's in a clear downtrend since clearly head and shoulders pattern formed in August with 3 engulfing bearish bars. As of now, the price stagnates around the level of $0.24 which is a support 1 under Pivot point.
Meanwhile, over the broad market, leading cryptos like BTC and ETH also fluctuate around key horizontal support levels, $10000, and $ 300 respectively. However, compared with BTC and ETH, significant weakness is evident on the chart because for the past days XRP price just stuck within a narrow range, about 5%, which implies that XRP is not a market leader.
Therefore, overall, XRP will follow the general trend of crypto, and possibly the downtrend will resume after a pause.
Disclaimer: The piece of analysis is merely the opinion of BitCoke analyst, not financial advice.
ETH bloodshed slump crash the longs, still have downside roomETH longs go through a nightmare with price sliding from 150 to 120 in a few days. As a result, in short term time-frame, the market was heavily oversold but in the daily chart, the price hasn't stabilized because the bull hasn't tried to stage a bounce after such steep fall.
Since peaking in mid-June, we can see the bearish trend on ETH chart is more or less contained in a channel. But recently bear power intensify and price rally become weaker than before, ETH rally doesn't reach the channel's upper trendline, yet every time the slump still manager to stop at the lower trendline of the channel.
Now ETH price sideways around lower trendline, but there isn't much intraday bounce, as if the market is dead.
To conclude, we still maintain a bearish view on the outlook of ETH. Bear's next target is to push the price down to the price level in early 2018.
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Bitcoin pauses before important support $6500, reversal unlikelyHi, guys, another bad day for cryptocurrencies, market cooling down fast and bitcoin is at critical support zone.
I know there's plenty of analysts out there still charting the bull case, like 'to the moon' or '100k for 2021'. Smashed by bear power, this kind of delusion should be eradicated out of your mind and traders should respect and follow the trend, not trying to catch the falling knife because on a derivative exchange like BitCoke, once you don't trade at the right direction, most likely you'll suffer losses.
For those who still think bull would reverse the trend, they need thoroughly look over the technical part and that is not promising at all.
Bitcoin price pause after hitting 6600. As the price move close to $6500-6500 zone which is also the trough formed at the end of November, many bear naturally closed their profitable positions and engender a bounce. Noticeable is that in bitcoin price history a major reversal never takes place in the form of the double bottom. Therefore, there is an exceedingly high probability that the obvious double bottom support is not holding on for much longer.
On the technical indicator part, in 4h chart RSI value is below 25, demonstrating market weakness. MACD has made a death cross at the area below 0. The market would remain so until some significant price action disrupts the current bearish trend.
Bitcoin ready to test new lows in 4H chartHi, guys, another eventless week begins as Bitcoin price continue its sideway downtrend.
Price prospect looks gloomy in 4H chart, slowly drifting down to $7,000, no buying or selling movement emerging, a sign that the bear market aggravates.
Technical pictures indicate even bleaker at the moment. $7,000 may sit as resistance because in the thousands integer always attract some buying force, but the trading volume is meager. Therefore, there's a high likelihood that bear would push the price below $7,000 soon.
horizontal support 1: 6850
horizontal support 2: 6600
Price has stayed below pivot point which is around $7250 for a few days, a bearish sign.
Moving average both 200 and 50 are clearly tilting down.
BTC would decide direction after tranquility around 7400After a spike to $7800, Bitcoin recedes to consolidate around $7300 - 7400 level, which also coincides with the Pivot point and heaviest trading volume range.
As the price shows no major movement during the daytime with subdued volume. Most likely, Bitcoin would continue zig-zag for some time then decide its direction. The next movement would be an intermediate one because long side was almost wiped out by the steep fall from 10,000 to 6,500, and the price has staged a 3 weeks rally.
BTC continues sliding, extremely oversold may trigger a rallyBitcoin technical picture looks very way too oversold at the moment with RSI in 4H chart dropping below 20 again and forming a divergence, indicating significant overselling. On the surface, the price debacle is said to be associated with the recent government crackdown on cryptocurrencies in China.
horizontal support 1: 6250
horizontal support 2: 5600
On the path of drifting down, many retail investors are inclined to buying the dip, causing the selling force to intensify after the longs suffer losses as the market continues grinding down and these retail investors switch to selling side.
Algo to the tomb? bearish trend resume As we can see in the daily chart, the bearish rectangle has formed over the past two months. Today the price breaks down the low trendline of the rectangle, thereby confirming that the bearish consolidation phase is over, and the bearish downtrend has resumed.
On the technical side, the RSI has been an accurate indicator of market strength. Over the past two months, RSI also formed a trend, which is broken at the moment. Volume is subdued with clearly diminishing interest in buying the dip.
ETH, anothe big triangle in weekly chart, big move soon?HI, guys, another gloomy day for cryptos.
market continue the sliding torture, repeating pattern of last week. Bitcoin drop to 8000, which clearly is a key resistance level. ETH suffer less but show no vigor in the chart as well.
In the weekly chart, it looks like ETH is slowly sliding to the range between 160-165, which acts as a key supporting trendline in the broad picture. At the same time, over the last few months, ETH has staged two major rally in September and October. One can't imagine what happens if the key supporting range is smashed.
The weekly chart also shows a very big triangle is forming for the moment, and price stagnation, closing to the end of the triangle, will soon decide whether the big move is up or down.
USDT, the backbone of cryptocurrencies?Throughout the years cryptos rise and bust, high volatility is the inherent attribute of crypto. Most price movement is driven by speculations from different types of investors. Among all cryptos, the tether USDT has been the most special crypto. Basically, it's the equivalent of US dollar, the main application of which is to act as USD to perform fiat function for transactions in which USD is restricted.
The market cap of UST as shown on the chart is gradually climbing. That's quite encouraging in that USDT, one of the several mainstream crypto, has been accepted and distributed in the real world business operation. As of now, floating market value of USDT has reached 4 billion USD and it continues swelling as tether company issume new batches of USDT every once in a while.
The supposition is that with UDST support, bitcoin has a such a high market cap and is wide recognized by the radical investment community.
Altcoin market cap downtrend no sign of endingThe overall altcoin market is considerably weak. it's still in the aftermath of the great speculation lunacy. More worrying is that the technical picture appear there's no hope for the market cap to reverse in the near term .
Bitcoin measured downtrend to reverse only if price breaks 8700 Bitcoin price cautiously moved down for the last week, with several tenuous rallies in the process. Price broke down the pivot support level at $8600 USD today.
The overall crypto market is still very weak. Until seeing a major break out above the downtrend line with strong volume, it's safe to assume bitcoin still has room to go down. The downward structure looks like a descending wedge, which is a bullish reversal pattern. However, currently, we don't have any bullish sign for the moment.
Horizontal support 2 : 8160
Horizontal support 3: 7650
Bitcoin dominance soon resume uptrend, altcoin gradually die outDuring 2017 altcoins mania led by ETH, Bitcoin market cap dropped to 35% because speculators poured in fanatically buying altcoins or shitcoins, thereby pushing high market share of altcoin. Many of those coins disappeared in the subsequent bear market over 2018. The whole crypto market has staged a rebound since April 2019, and this time the huge upswing was led by Bitcoin, overshadowing altcoins such as COINBASE:ETHUSD COINBASE:EOSUSD .
Having bottomed out at the beginning of 2019, the market dominance of Bitcoin (%) steadily increases and the trend is very clear. More noticeable is that Bitcoin market dominance doesn't change much, providing that recently Bitcoin has suffered a significant setback of dropping from 13500 to 8000. The only reasonable explanation, which many have realized, is altcoins slump together, or even more. Bitcoin market dominance probably resumes uptrend and reaches 80% soon.
[BitCoke] price slump below $9000, a clear sign of weaknessMarket is down as bull failed to recover from weak consolidation between 9200 and 9600. Since market decides to go down to test major short-term support around 8700, curren price at 8900 should be a intermediate stop on the down path.
On chart, Bitcoin failed to break out bearish trendline even though news from China sounds very exciting.
BTC to trade in range?I would say the chart of BTC/USD clearly indicate the major support is around 9000, where the bull start a major rally after the slump in mid-March. The most crucial resistance is 11000$, because it's a triple technical confluence level.
1) it's the middle point of the slump this month
2) the rally afterward stops at 11000 , also a horizental resistance
3) Exponential Moving Average 100 happens to become a key threhold for bull and bear territory.
All said, if the price pushes above 11,000$, it certainly signify the resumption of bull market, and bull will most likely take out 13000 & 14000 highs.
However, current tepid market trading volume and these numberous minor rabounces show no sign of a new up offensive anytime s BITSTAMP:BTCUSD xoon. Range trading would be the most rational scenario .
BITMEX:XBTUSD
