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Litecoin retracing heavily after a 540% increaseLitecoin had one of the best, if not the best, performance since the beginning of 2019, it reached a maximum increase of 540% on the 22nd of June. This maximum took place along with the bull run that Bitcoin had a couple of weeks ago. Afterwards, a double top at $140, bearish MACD divergences and retracement of 30% for the Bitcoin price, drove LTC back to $92. As we discussed in previous Litecoin analyses (see chart below), this coin has been behaving very good technically talking , and it has done the same for its latest retracement. Now, the coin finds itself in a very strong bearish channel and it is very likely that it will keep retracing further to around $60. On the other hand, if the Bitcoin price reverses and has finished its retracement, Litecoin can follow it and reach the nest resistance at $105.
COINBASE:LTCUSD
by cryptohopper
2
$10,000 preventing further falls - #BitcoinBitcoin suffered falls from $13,000 to $10,000 during the last few days. The is the second time in this month that the support at $10,000 shows its strength and prevents BTC from reaching lower levels. After bouncing on $10,000 yesterday, it has performed a retracement to almost $11,000. Despite this increase, the price still finds itself in a bearish channel and further falls can take place . If the resistance at $11,000 is not broken and the price tries to reach $10,000 again, the pressure on that support will be every time higher and very likely it will break it downwards. In this scenario, we can expect falls to $9,300 as depicted in the chart. As we know, Ethereum and the rest of the altcoins have a high correlation with Bitcoin and in the potential scenario where BTC breaks $10,000 , ETH can reach levels around $190, which would be the 2 months minimum. On the other hand , we can expect a bull run continuation if the Bitcoin price breaks $11,000 upwards.
BITFINEX:BTCUSD
by cryptohopper
$BTC - Bulls consolidating previous increasesKey levels Short term Supports—> S1: 11,100 & S2: 10,000 Resistances—> R1: 13,000 & R2: 13,500 Medium term Supports—> S3: 8,900 & S4: 7,600 Resistances—> R3: 14,000 & R4: 15,000 Potential scenario During the last week, bulls took over again with increases of around 30%, from $10,000 to $13,000. Once the Bitcoin reached $13,000, it performed a quick correction of 15% of the price, bouncing on the support S1 at $11,000. These type of corrections are interpreted as healthy retracements that consolidate previous price increases. The last maximum at $13,000 is above the previous one, which reduces the probabilities of having a bearish trend. TA comment In order to find entry points for the current market conditions, we are making use of the Chaiking A/D Oscillator . This is a momentum indicator that combines volume and the accumulation/distribution line to create buy and sell signals. As we can see in the chart, the indicator pinpoints quickly increases in volume and A/D line, which normally leads to price increases. Pattern As previously commented, the price created the new resistance R1 at $13,000 and afterward fell quickly to $11,000. This quick decrease in the Bitcoin price was performed with very clear bearish engulfing patterns. It is a bearish reversal pattern represented by two candles. The second candle totally engulfs the first one and starts a downward movement, then sending sell signals when the price is very likely to go down.
COINBASE:BTCUSD
by cryptohopper
2
$XRP gaining bullish potentialThe Cryptohopper app has been recently lunched ! Make trading 24/7 even simpler to keep tabs on. Key levels Short term Supports—> S1: 0.378 & S2: 0.34 Resistances—> R1: 0.48 & R2: 0.49 Medium/Long term Supports—> S3: 0.28 & S4: 0.20 Resistances—> R3: 0.55 & R4: 0.62 Potential scenario XRP marked its post bull run lowest point in August 2018, since then it has been making minimums (pivots) continuously higher than the previous one. This is a clear sign of markets trending up, which accompanied by the bull run that the most capitalised coins have had during the last 2 months, reinforce the possibility of having an extended upward trending market. TA comment We have been following this pair with an indicator that was highly requested by our users. The DMI measures the strength of positive and negative trends, then generating crossovers with the +DI (blue) and -DI (orange) line. As we can see in the chart, the DMI opened positions when the bullish potential of the price was gaining strength after bouncing on the support S1. Pattern During the time span displayed in the chart, the system has spotted the pattern called Three Advancing White Soldiers in two occasions bouncing on the support S1. This is is a bullish reversal pattern represented by three candles. After a downward trend, every candle has a long body and an upward direction.
BITSTAMP:XRPUSD
by cryptohopper
3
#Bitcoin consolidating a very strong upward trendBitcoin is extending its retracement , it has been retracing for 7 days already. The crypto community as a whole agrees on that, after the last bull run in which Bitcoin increased around 300%, the Bitcoin price needs to have a healthy correction to maintain an upward trend. The strongest supports that can reverse the price direction to continue with the bull run are $11,000, $10,000 and $9,500 . Quick and long increases are usually accompanied by heavy corrections. As we can see in the chart, the indicator ATR (blue line), which measures the price volatility, is signalling volatility levels unseen since March 2018. Historically, once the ATR is trending up, it continues having high volatility levels until it reaches new historical maximums. The other indicator is called the Cryptohopper OBV . It makes use of the On Balance Volume to create buy and sell points by adding its moving average. The OBV line (orange) has been above its moving average (blue) since mid February 2019 and hasn’t had any bearish crossover yet, which indicates that the market is not bearish. The Bitcoin can be consolidating a very strong upwards trend. —CRYPTOHOPPER—
BITFINEX:BTCUSD
by cryptohopper
1
$BTC retraces heavily. Alts offer opportunitiesKey levels Short term Supports—> S1: 11,130 & S2: 10,500 Resistances—> R1: 12,000 & R2: 12,900 Medium/Long term Supports—> S3: 9,400 & S4: 8,900 Resistances—> R3: 13,800 & R4: 14,200 Potential scenario Bitcoin has had its most volatile week since February 2018. In less than a week, the BTC price rose from $10,500 to $13,830, fell from $13,830 to $10,300 and at the time of writing, the price is at $11,880. As shown in the chart, this 25% retracement has offered many profitable opportunities for altcoins. While the Bitcoin has decreased by 25%, altcoins pairs like LTC/BTC have increased by more than 10%. TA comment The Bitcoin price has had a very strong retracement after the last overextended price surge. The price was supported at $10,300 to bounce back up, break upwards what now is S1 and it is aiming for R1. If it has strength enough to break R1, the outlook will be rather bullish, however, if it doesn’t do it, we can expect a larger retracement. Pattern After the price was supported in S2, several candles showed long lower wicks, indicating that the demand was stopping the price from further falls. Among these candles, the hopper spotted the pattern High-Wave Bullish , a bullish pattern represented by 1 candle with a small body, and a long lower wick.
by cryptohopper
$BTC unleashed. Things to take into account:Cryptohopper Analyses Bitcoin is unleashed . Back in January, February and March of 2018, the price tried to break $11,500 even 4 times, all of them were unsuccessful. Yesterday, Bitcoin was hovering around that level, an important part of the crypto community was expecting this level to be difficult to break and therefore taking a bit longer to break it upwards. However, BTC completely ignored this key resistance and reached $13,000 in some exchanges. As we can see in the chart, this movement has been accompanied by a spike in volume . Very possibly, this means that a lot of people that bought some days ago, closed their positions at $13,000, then creating long upper wicks around that level. Next? We can expect a small retracement to S1 or the thin line above it, which a lot of investors will take as a buying opportunity, therefore pushing the price up again. —CRYPTOHOPPER—
COINBASE:BTCUSD
by cryptohopper
$BTC aiming for the key resistance at $10,000Key levels Short term Supports—> S1: 9350 & S2: 8900 Resistances—> R1: 9750 & R2: 10000 Medium/Long term Supports—> S3: 8300 & S4: 7600 Resistances—> R3: 10200 & R4: 10400 Potential scenario Bitcoin is leading the whole crypto market to a bull run that can be historical. The community is highlighting the importance of the level $10,000 as the breaking point where the crypto capitalisation will increase exponentially and will aim for the all-time high, $20,000. The $10,000 breakout might take some time since it is a very strong resistance, however, its breakout is very likely to be made with significantly high volume levels. TA comment In the current bullish scenario, in order to automate our strategy and profit from further increases, indicators that will quickly open positions, such as fast moving averages or momentum indicators , can be highly beneficial if the price increases sharply. Once the bull run is less intense, adding more filters to your strategy could be more profitable. Pattern The Bitcoin price is continuously breaking yearly highs and making new records. These resistances are very often broken with a lot of volume and small wicks. This type of candle is called Morubozu bullish, a bullish pattern in an upward market represented by one candle. This one has a long body and short, or none, wicks with an upward movement.
COINBASE:BTCUSD
by cryptohopper
3
$11,500, the next key level for $BTCBitcoin broke $10,000 and it did it more heavily than anyone expected, reaching levels above $11,000. Being precise, it reached $11,280, a price unseen since March 2018. And now? The BTC price is performing a symmetrical triangle . A pattern that normally, once it almost finished the triangle, the price makes a very sharp movement upwards or downwards. What is the most likely direction? It is difficult to determine, however, there is a very important resistance at $11,500 and important levels like this one usually act as magnets for the price. It means that very possibly, the price will move upwards and then make a retracement. --CRYPTOHOPPER--
COINBASE:BTCUSD
by cryptohopper
2
$ETH gaining bullish momentum inside a rangeKey levels Short term Supports—> S1: 230 & S2: 215 Resistances—> R1: 280 & R2: 290 Medium/Long term Supports—> S3: 200 & S4: 180 Resistances—> R3: 300 & R4: 320 Potential scenario Ethereum has been ranging for the last 30 days. It has been moving between R1, $280, and S1, $230, showing volume spikes every time that the price tested these two areas. Ranges are usually interpreted as “no trade zones” since the price doesn’t follow a specific trend. Currently, the price is approaching the upper band, if it breaks it and makes a low-volume retracement, there might be opportunities to take long positions. TA comment The indicator OBV measures the volume growing along with the price, therefore, increasing every time that there is more volume in a market that is pushing up the price. In Cryptohopper, we added a OBV moving average to give the user the possibility to generate buy or sell signals based on this indicator. As you can see in the chart, when the OBV line (blue) crosses up its moving average (purple) a buy signal will be generated. Pattern In the chart, the system spotted the pattern Unique 3 River once the price tested the lower band of the range. It is a bullish reversal pattern represented by 3 candles. During a downtrend, the first candle is decreasing and has a long body, is followed by a red hammer with a long lower wick that sets a new minimum. The third candle has a short body, short wicks and doesn’t make any new low or high. Therefore, it would have signalled buy in that region.
COINBASE:ETHUSD
by cryptohopper
$ETH gaining bullish momentum inside the rangeKey levels Short term Supports—> S1: 230 & S2: 215 Resistances—> R1: 280 & R2: 290 Medium/Long term Supports—> S3: 200 & S4: 180 Resistances—> R3: 300 & R4: 320 Potential scenario Ethereum has been ranging for the last 30 days. It has been moving between R1, $280, and S1, $230, showing volume spikes every time that the price tested these two areas. Ranges are usually interpreted as “no trade zones” since the price doesn’t follow a specific trend. Currently, the price is approaching the upper band, if it breaks it and makes a low-volume retracement, there might be opportunities to take long positions. TA comment The indicator OBV measures the volume growing along with the price, therefore, increasing every time that there is higher volume in a market that is pushing up the price. In Cryptohopper, we added an OBV moving average to give the user the possibility to generate buy or sell signals based on this indicator. As you can see in the chart, when the OBV line (blue) crosses up its moving average (purple) a buy signal will be generated. Pattern In the chart, the system spotted the pattern Unique 3 River once the price tested the lower band of the range. It is a bullish reversal pattern represented by 3 candles. During a downtrend, the first candle is decreasing and has a long body, is followed by a red hammer with a long lower wick that sets a new minimum. The third candle has a short body, short wicks and doesn’t make any new low or high. Therefore, it would have signalled buy in that region.
COINBASE:ETHUSD
by cryptohopper
1
$LTC has already increased by almost 500%!Litecoin has been one of the cryptocurrencies that have been growing more solidly and steadily since the beginning of 2019. Since December 15th when it bottomed out at $22, reaching its lowest point in more than two years, it has increased almost 500%. During the last and ongoing upward trend, the Litecoin price has behaved very good technically talking. It has risen very solidly , consolidating the levels by making a retracement and respecting these key levels with barely any false breakout. Why has it been doing so? this bullish run might be caused by a range of different factors, however, one that seems to be the most important one is the halving that LTC will undertake new August. The supply of this crypto will be automatically reduce by half, from 25 LTCs to 12.5. This cut in its supply seems to be the main cause of this incredible bullish trend . Now, LTC lies in a key level, $130. If it performs a pull-back to $120 and continues rising, this coin can maintain its way up until the next strong resistance at $175.
COINBASE:LTCUSD
by cryptohopper
$BTC, retracement made. Now, potential bullish marketKey levels Short term Supports—> S1: 7600 & S2: 7250 Resistances—> R1: 8000 & R2: 8350 Medium/Long term Supports—> S3: 7000 & S4: 6800 Resistances—> R3: 8900 & R4: 9000 Potential scenario Bitcoin made the expected retracement, after hitting one year maximums at $9,080. It decreased by 18,2%, until $7,435. Currently it has performed a double bottom and is testing R1 at $8,000. If the price retraces to the small support above S1, the demand is very likely to push the price back up attacking R1, therefore, being very likely to break it and continue its way to R2. TA comment As said in the section Potential scenario, the price has performed a double bottom and broken upwards the non-dotted blue line, which was a small resistance created during the retracement. Now, we are waiting for the retracement to this line. The indicator DMI signalled buy when that small support was about to be broken upwards, getting 2% until R1. This indicator might be very helpful to quickly spot potential reversals. Pattern After the retracement, the price bounced twice on S1, performing a double bottom which is usually recognised as a reversal pattern. The price is already testing R1 at $8,000 and likely to break it. One of the times when the price was supported in S1 to go back up, some candles shaped Hammer patterns . By selecting this in your strategy it would have given a buy signal.
COINBASE:BTCUSD
by cryptohopper
6
$BNB made a bearish crossover after its bull runBNB has been one of the few coins that have climbed during the bear market while the rest were practically falling off of a cliff. On May 25th it reached its peak and the next pivot couldn’t break those levels, therefore beginning a bearish trend where the new maximums were lower than the previous one. As we can see in the chart, the Exponential Moving Average (EMA) made a bullish crossover at the beginning of this bull run on May 11th. Using a strategy that incorporates EMA would have open positions once the bullish crossover would have taken place and held it until your selling criteria is met. How could you have closed this position? Depends on your selling method, you can choose stop-loss, trailing stop-loss, take profit or selling by strategy. By having chosen strategy as a selling method, your position on BNB would have been closed on May 28th, therefore getting a return of 62,5% in 17 days. Now, a bearish crossover in this pair has taken place and given the trending behavior of this coin, s etting up an automated strategy with moving averages can give significant positive returns.
by cryptohopper
4
$BTC ranging in a 12% rangeBitcoin has been moving between 9,000 and 8,000 for the last 7 days and it is very likely to keep doing so for the next week. The Bitcoin price has created a 1,000 points range between these two levels. On May 30th, it made two big movements to 9,000 and 8,000, both heavily rejected with high volume and long wicks. Commonly, this is perceived as the beginning of a new range. Normally, these zones are hated by traders since future price movements are difficult to predict . However, there are several traders that will open long positions once the price touches the lower band of the range. Waiting for the breakout and retracement might be the most secure way to trade now, but ranges traders can have good profitable opportunities as well!
COINBASE:BTCUSD
by cryptohopper
$BTC key moment, longer consolidation or bull run? #cryptoNewsletter 24/05 MARKET ANALYSIS Key levels Short term Supports—> S1: 7500 & S2: 7000 Resistances—> R1: 8000 & R2: 8300 Medium/Long term Supports—> S3: 6800 & S4: 6400 Resistances—> R3: 8400 & R4: 8600 Potential scenario BTC/USD is making a healthy consolidation. Now we should wonder, did the consolidation process end at $7,000 or can we expect further falls? Since it reached its 10 months high at $8,400, the price created a bearish channel. At the moment, S1 is holding the price and R1 at $8,000 is the main resistance. If the price cannot break R1 during the next two days, we can expect a longer consolidation process. If it breaks it, the bull run is likely to continue. TA comment In case the price breaks R1, the bearish channel that started 8 days ago will be broken and further price increases are likely to take place. If it goes above R2, Bitcoin will make a new 10 months high, having a big potential to keep increasing. As we can see in the chart, between R1 and R2 there is a difference of 4%. By creating a strategy that includes the indicator Percent Change , you can automate buys if BTC rises over 4%, then taking advantage of the bullish potential of that breakout. Pattern The price is currently testing the resistance R1 at $8,000. At this resistance it is possible to spot the pattern Hanging Man , which is a bearish reversal pattern. It is represented during an upwards trend, that in this case is a short-term upward trend, and as a candle with a long upper wick and a short body at the bottom. By automating this pattern, you would include a sell signal in your strategy when it is spotted by our pattern recognition system. --CRYPTOHOPPER--
COINBASE:BTCUSD
by cryptohopper