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Bitcoin Price Rally To $9,600 Still Imminent Bitcoin hash rate rises to new all-time highs amid acute price consolidation and range trading. Max Keiser believes that fiat money is losing power and Bitcoin is the ultimate winner. Bitcoin price remains unchanged for the second day of trading this week. The stagnation has been its cup of tea for a few weeks now. However, the hash rate parameter of the Bitcoin network continues to rise. In other words, hash rate is the level of computational power dedicated to mine Bitcoin. As per the data released by CoinCorners’s Matt Ward, Bitcoin hash rate hit a new all-time high on Monday. The parameter rose to 147.88 exahashes per second; double the value seen over 12 months back. At the same time, it is over ten times that hash rate during Bitcoin price at $20,000. Bitcoin Price Analysis A higher hash rate means that the Bitcoin network is more secure. Unfortunately, the price has flattened with little to no volatility. One of the biggest evangelist for Bitcoin and also a prominent investor, Max Keiser says that a rally is likely to follow the surge in the hash rate. In a tweet published on Monday, Keiser showed his optimism saying: Hashrate precedes price BTC. Bitcoin price – not that important – as Gold price is not that important since both BTC and Gold trade inversely with the USD. BTC hashrate increasing shows confidence in fiat money collapsing Soon, BTC will actually be drawing energy away from fiat. At the time of writing, Bitcoin is trading at $9,238 after bouncing off short term support at the 50% Fibonacci level. A weak bullish trend is building towards the resistance at $9,300. Buyers must, however, brace for more resistance at the 50 EMA ($9,260.66) and the 100 EMA ($9,256.59). The weak momentum is supported by the upward-pointing RSI. A cross above the midline would encourage bulls to increase their entries and push Bitcoin above $9,400 and pave the way for $9,600. Bitcoin Key Intraday Levels Spot rate: $9,234 Percentage change: -0.02% Relative change: -2.13 Trend: Bullish Volatility: Expanding
COINBASE:BTCUSDLong
by CoinGape
Can ETH/USD Defend This Critical Ascending Channel Support? Ethereum price is pivotal at $230 following rejection from $235. ETH/USD must hold onto the ascending channel support at all costs because losing it could be detrimental to progress. Ethereum performance in the last 48 hours has not been impressive. Bearish forces continue to terrorize bulls under $250. Attempts to break above this critical level have culminated in declines as opposed to breakthroughs. The latest bearish swing occurred on Wednesday, sending Ether back to $240. Moreover, the bearish leg extended on Thursday, forcing ETH/USD into another painful trip under $230. A weekly low was traded close to $225 before a recovery came into the picture. Unfortunately, the bulls lost momentum once again at $235 (previous week resistance). At the time of writing, Ether is pivotal at $230. However, the trend has a bigger inclination to the bearish side. Holding the price at $230 is ascending channel support. This support has been very instrumental since March when Ethereum dropped to $90. If defended, a bounce towards $240 is expected before the weekend session. The technical picture is also drab based on the RSI and the MACD. The RSI is currently on a downward slope after failing to rise above 60 earlier this week. As long as the trend is downwards, the bearish grip could become stronger, eventually pulling Ethereum towards $220. The very downward trend is emphasized by the MACD’s bearish divergence. The only slightly positive signal for Ethereum is that the MACD is still holding above the midline. If the sideways trend holds, we can expect consolidation above $230 before a breakout above $235 is staged. Ethereum Key Intraday Levels Spot rate: $230 Relative change: -3.00 Percentage change: -1.28% Trend: Bullish biased Volatility: Expanding
COINBASE:ETHUSD
by CoinGape
2
GBPJPY ANALYSISFOREXCOM:GBPJPY NOTE: (MARKET IS REACTIVE AND NOTE PREDICTIVE) (LIKE AND COMMENT BELOW TO SHARE IDEAS TO SUPPORT ) From a daily perspective we can see market is in a bearish flow. We can see that price has broken the support zone and may likely retest the support turned resistance as a common pattern of impulse correction impulse. REMEMBER: THE MARKET MOVES IN WAVES, ALSO NEVER FIGHT THE MARKET AS WE ARE THE SMALLER THAN THE BANKS. After the retest if that happens we can initiate a short position to the target of the lower box holding the bearish candle. This will enable the trader to be on a risk free situation. REMEMBER: MARKET IS REACTIVE AND NOT PREDICTIVE. Monitor this pair from a 4Hour perspective for entries. If you have any suggestion, drop in the comment section below.
Short
by Kelachi
Is Ethereum Price Heading To $220 Following Triangle Pattern Ethereum breaks out of triangle resistance but hits a snag at $216. ETH/USD could settle in consolidation around $212 ahead of another attack on the resistance at $220. Ethereum bulls have been keen on sustaining gains above $200 since the breakout in the previous month. ETH/USD hit highs around $227 but immediately plunged to $195. The good news is that buyers wasted no time reclaiming some of the lost ground above $200. There was, however, a struggle in clearing the resistance at $210 especially with the triangle resistance stay strongly in place. Bitcoin (BTC) surge above $10,000 on Thursday had a slight effect on Ethereum as the price overcame a couple of key resistances; the triangle resistance and the 50 Simple Moving Average. ETH/USD managed to rise to weekly highs of $216. At the time of writing, a retreat is testing a short term support at $212. In spite of the minor adjustment from the recent highs, Ethereum buyers have their eyes glued on breaking the seller congestion zone at $220. A sideway trading action is likely to take center stage first as the Relative Strength Index (RSI) starts to move horizontally above 50 (average). This consolidation could allow bulls to gather strength in order to take the fight to the resistance at $220, $230 and $250. On the downside, apart from the support at $212, the 50 SMA will also try to stop losses in case of a reversal. $205 has functioned as a support in the past while the 100 SMA (currently at $200) is standing out as a key area of interest. Other levels keep an eye on include $195 (this week’s support), $190 as well as $170. Ethereum Key Intraday Level Spot rate: $212.81 Relative change: 0.26 Percentage change: 0.16% Trend: Sideways trading Volatility: Low
COINBASE:ETHUSDLong
by CoinGape
Bitcoin Price Analysis Bitcoin saw a 4.5% price surge over the past 24 hours of trading as the cryptocurrency managed to reach as high as $9,600. With the Bitcoin Halving just over 4-days away, there is is a potential for BTC to hit $10,000 before the halving. Bitcoin surged by 4.5% today as the cryptocurrency managed to break the prior resistance at $9,090 and exploded higher to break above $9,500 and reach $9,600. The cryptocurrency was really struggling at $9,090 over the past few days but it was only a matter of ‘when’ this resistance would be broken with the Bitcoin Block halving just 4-days away now. With this break of critical resistance, we can expect the price of Bitcoin to reach at least as high as $10,000 in the next 4-days before the block halving event occurs. This BTC Block halving will see the mining subsidy be reduced from 12.5 BTC per block to just 6.25 BTC per block. Market Overview Analyzing the daily chart above, we can clearly see that BTC was struggling to close above the $9,090 level over the past few days of trading. The resistance here is provided by a bearish .786 Fibonacci Retracement level that is measured from the February high to the March low. After breaking this resistance, we can see that BTC went on to travel higher as it broke past the $9,500 and reached resistance at $9,600 (1.272 Fibonacci Extension level). Short term prediction: BULLISH BTC remains bullish in the short term and would have to break beneath $8,000 to turn bearish again. If the sellers do push lower, we can expect support at $9,500, $9,200, $9,100, and $9,000. On the other side, if the bulls break $9,600, higher resistance lies at $9,753 (bearish .886 Fib Retracement), $9,953 (1.414 Fibonacci Extension -pink), and $10,000. Above this, higher resistance lies at $10,247 and $10,457. Key Levels Support: $9,500, $9,200, $9,100, $9,000, $8,950, $8,800. Resistance: $9,600, $9,753, $9,953, $10,000, $10,247, $10,457..
BITSTAMP:BTCUSDLong
by CoinGape
Litecoin Price Analysis Litecoin saw a 2% price increase over the past 24 hours of trading as the cryptocurrency reaches $46. The coin recently rebounded from strong support at a rising support trend line. Litecoin saw a 2% price rise over the past 24 hours of trading as the cryptocurrency bounces from $44.62 to reach $46. The coin had rebounded from a rising support trend line which prevented Litecoin from unwinding further beneath $44.60. The momentum has now shifted back into the bullish favor especially with the RSI rebounding from the 50 line to show that the buyers are unwilling to give up their control of the market momentum just yet. Market Overview Analyzing the daily chart above, we can see that LTC had slipped beneath the 100-days at the start of the month after rolling over from the resistance at $49.33 (1.272 Fib Extension level). The coin continued to drop until recently hitting the support at $44.60 which was further bolstered by a rising support trend line. Each time LTC reached this trend line the buyers managed to step back in to prevent the market from slipping further lower. This latest rebound should allow LTC to push higher and re-test the $50 level again. Short term prediction: NEUTRAL LTC still remains neutral and LTC would need to rise above $49.33 to turn bullish again. If the sellers push the market beneath the rising support trend line then we can consider the market as bearish in the short term. Toward the upside, the first level of resistance lies at $47.70 which is provided by a bearish .382 Fib Retracement. This is followed immediately with resistance at the 100-day EMA. Above the 100-day EMA, resistance lies at $49.33 (1.272 Fib Extension), $50, and $52.04 (1.414 Fib Extension). If the sellers push beneath the trend line, we can expect support to be located at $43 and $41.14 (.382 Fib Retracement). Beneath this, support lies at $40 and $38.09 (.5 Fib Retracement). Key Levels: Support: $44.60, $43, $41.14, $40, $38.09. Resistance: $47.70, $49.33, $50, $52.
COINBASE:LTCUSD
by CoinGape
1
Bitcoin Price Analysis: Bulls Target $9,000 Bitcoin saw a 1% price increase today as the cryptocurrency attempts to break the current $8,950 resistance level. The block halving for the coin is now just 10-days away. Bitcoin is currently battling the resistance at $8,950 as it targets the key $9,000 resistance level. The cryptocurrency had attempted to break $8,950 for the pats 4-days of trading but always ended up closing beneath this level on each attempt to break above. We can most certainly expect a break of $9,000 in the next week of trading when we consider the fact that the Bitcoin block halving is just a short 10-days away now. In this event, we will see the BTC block reward slashed from 12.5 BTC to 6.25 BTC which will see a dwindling supply of BTC coming onto exchanges from miners. Market Overview Taking a look at the daily chart above, BTC is struggling at the 1.618 Fibonacci Extension at $8,958. It must close above this resistance before it can target $9000 and push higher again. Each time the cryptocurrency attempted to break this resistance it was pushed lower and closed beneath the level. Short term prediction: BULLISH Bitcoin continues to remain bullish at this moment in time but it must break $9,000 for this bullish run to continue higher. The bulls are still in charge of the market and the momentum remains fully on their side. Once they manage to push above $8,958, the first level of resistance lies at $9,000. This is closely followed with resistance at $9,090 which is provided by a bearish .786 Fibonacci Retracement level that is measured from the February high to the March low. Beyond $9,100, resistance is located at $9,400, $9,500, and $9,600 (1.272 Fib Extension level). On the other side, if the sellers push lower, the first level of support lies at $8,800. Beneath this, support is located at $8,500, $8,400, $8,200, and $8,140. Key Levels: Support: $8,800, $8,400, $8,300, $8,000. Resistance: $8,850, $9,000, $9,090, $9165, $9,500.
BITSTAMP:BTCUSDLong
by CoinGape
Ethereum Price AnalysisMarket Overview Ethereum managed to surge by a total of 15% over the past week of trading as the cryptocurrency managed to break above the $180 resistance to reach the $197 level. It stayed here for a few days but went on to climb above $200 and closed at the $218 level (bearish .786 Fib Retracement) yesterday. Today, we can see that Ethereum spiked higher into $230 but since dropped to trade at $211. Short term prediction: BULLISH Ethereum is bullish in the short term and would need to drop beneath $200 to turn neutral. It would have to fall beneath $170 to turn bearish. If the sellers do push lower, the first level of support lies at $210. Beneath this, added support is located at $200, $191, and $180. If the sellers continue to drive ETH beneath $180, support lies at $175 (100-days EMA), $170, and $160. On the other side, if the bulls break the $218 resistance (bearish .786 Fib Retracement), higher resistance lies at $224 (1.618 Fib Extension). Above this, resistance lies at $230, $235 (bearish .886 Fib Retracement), and $240. This is followed by added resistance at $250 which is the March 2020 high.
COINBASE:ETHUSDLong
by CoinGape
1
Bitcoin Price Analysis As April closes, the cryptocurrency markets have pretty much recovered all of the losses that were seen during the Coronavirus March market collapse. Bitcoin surged by a total of 22% over the past week which allowed the cryptocurrency to climb back above the $9,000 level briefly today. As we close the month of April, the cryptocurrency markets have surged. Led by Bitcoin, the total market cap valuation for the entire market has managed to increase to the $247 billion levels. This price increase was largely led by Bitocin being able to surge by 22% over the last week as it broke the resistance at $8,000 and continued above $9,000 today. It has since dropped beneath $9,000 but we can expect this bullish rally to continue over the next few days as the BTC block halving event is just 12 days away. With the upcoming block halving, we will see the block reward being slashed from 12.5 BTC per block to 6.25 BTC per block, effectively reducing the incoming supply to circulation by 50%. Market Overview Taking a look at the chart above, we can see the majestic price increase for BTC over the past 2-days. It broke past the resistance at $7,800 and stormed above $8,000. After breaking $8,000, BTC continued to climb higher to close the day at the $8,950 level (1.618 Fibonacci Extension level). Today, on the last day of the month, we can see that BTC managed to break further above the $9,000 level and reach as high as $9,400 before rolling over and falling back beneath $9,000. Short term prediction: BULLISH Bitcoin remains strongly bullish at this time. It would need to drop beneath $7,400 before being considered as bearish. If the sellers do push lower, the first level of support lies at $8,500. Beneath this, added support lies at $8,300, $8,1414 (.236 Fib Retracement), and $8,000. Following this, support lies at $7,800, $7,600, and $7,200. Alternatively, if the buyers push back above $9,000 again, resistance is located at $9,100 (bearish .786 Fib Retracement), $9,200, and $9,500. Following this, added resistance lies at $9,600 (1.272 Fib Extension), $9,750 (bearish .886 Fib Retracement), $9,950 (1.414 Fib Extension), and $10,000.
BITSTAMP:BTCUSD
by CoinGape
Ripple (XRP) Price AnalysisMarket Overview XRP managed to increase by 15% this week as the cryptocurrency finally broke above the $0.20 level. The cryptocurrency had been struggling to break above $0.20 since the March market collapse but managed to penetrate above here on Tuesday when it surged past the 100-days EMA at $0.206 and closed at $0.218 (1.272 Fib Extension). Yesterday, XRP continued higher into the bearish .5 Fib Retracement level at $0.23. In today’s trading session, XRP has dropped lower as it trades at $0.218. Short term prediction: BULLISH The break above $0.20 has now turned XRP bullish and it would need to drop beneath $0.20 to turn neutral again. If it was to drop beneath $0.18, the market would be considered as bearish. If the buyers manage to rebound from $0.218 and push higher, the first level of strong resistance lies at $0.229 (bearish .5 Fib Retracement). Above this, resistance is located at $0.234, $0.24 (1.414 Fib Extension), and $0.257 (bearish .618 Fib Retracement). Toward the downside, support lies at $0.21, $0.206 (100-days EMA & .236 Fib Retracement), $0.20, and $0.1881 (.382 Fib Retracement). Following this, added support lies at $0.18. The RSI has dropped from overbought conditions as the bullish momentum is starting to show some signs of weakness.
COINBASE:XRPUSD
by CoinGape
BTC Breaks $8,400 As Halving Approaches – How High Will It Go? Bitcoin surged by a total of 7.8% today as the cryptocurrency breaches $8,000 to climb as high as $8,430. The block halving for the coin is now just 12-days away. After stalling at $7,800 yesterday, Bitcoin managed to surge by 7.8% today to break above the resistance at $7,800 and break above $8,000. The coin continued to climb further higher above $8,000 as it reached the $8,430 level before finding resistance. This price jump is not surprising when we consider that the BTC block halving is just 12-days away now. With this event, we will see the BTC block reward being slashed in half from 12.5 BTC per block to just 6.25 BTC per block. This would put some pressure on the smaller mining operations and will force many of them to close down. The hash rate for the entire market is starting to climb right now and we can expect it to continue to rise until the block halving event. After the event, we might see the hash rate drop significantly. Market Overview Taking a look at the daily chart above, we can clearly see BTC stalling yesterday at $7,800 as the bulls took a break from their 7-days of continuing price increases. In today’s trading session, we can see BTC surging past $7,800, breaking above $8,000, and breaching the resistance at $8,073 provided by the bearish .786 Fib Retracement. It continued above $8,000 to reach the resistance at $8,430 (1.618 Fib Extension). It has since dropped from here to reach $8,300. Short term prediction: BULLISH Bitcoin remains strongly bullish in the short term and would need to drop beneath $7,600 (100-days EMA) to turn neutral. It would have to fall further beneath $6,800 to turn bearish. If the buyers managed to break the $8,430 resistance, higher resistance is located at $8,608 (bearish .886 Fib Retracement). Above this, resistance lies at $8,800, $9,000, and $9,163. On the other side, if the sellers push lower, support can be found at $8,000. Beneath this, added support lies at $7,877, $7,676, $7,600, and $7,400. Key Levels: Support: $8,000, $7,800, $7,676, $7,600, $7,400, $7,200, $7,000. Resistance:$8,430, $8,608, $8,800, $9,000, $9,163.
BITSTAMP:BTCUSD
by CoinGape
BTC ON Huobi Futures 6666 6666 seems to be a trend these days been seeing this price sticking around for some time. BTC is down around 4 to 5 percent at the time right before the daily close. We did have a nice uptrend previously on the channel over the weekend. Its anyone game but with the btc block rewards going down in 29 or so days does this mean the halving is priced in ? are we going down to lower or going to spike up after this retracement. Its anyone's game? Are you a bear or bull after this decrease in price?
B
by HuobiGlobal
1
Bitcoin Price Outperforming Altcoins While Dominance Falls Bitcoin price continues to trend towards $8,000 in spite of the fall in the dominance rate. Bitcoin halving is associated with heightened volatility before and after the process; post halving predictions go beyond $10,000. Bitcoin dominance rate has taken a hit after rising to 67.99% (vital resistance zone) on March 9. However, a sharp drop followed resulting in a leaner Bitcoin dominance rate. At the time of writing, Bitcoin dominance stands at 64.7%. This shows that altcoins have been performing relatively well against Bitcoin. According to a cryptocurrency trader @FeraSY1, Bitcoin dominance is set to test key levels at 61 and 53 respectively. #Bitcoin Dominance HTF Structure We Can say obviously that #BTC Dominance has broken 2 years uptrend + successful bearish Retest of this Major uptrend Next Key Levels are 61/53/50 % What does it mean? This has Direct #Bullish impact on Alts Mainly Majors & Mid Caps Vs. Bitcoin pic.twitter.com/PbiopPnKwQ — Feras_Y (@FeraSY1) April 8, 2020 In spite of the falling BTC dominance rate, BTC/USD has been performing exceedingly well in comparison to the altcoins. The recent surge towards $7,500 confirmed the return of the bulls into the market following the fall under $4,000 on March 12. Most altcoins are still heavily correlated to Bitcoin price including Ethereum, Litecoin and Bitcoin Cash. Bitcoin Price Technical Picture BTC/USD is trading at $7,278 at the time of writing. An ongoing bearish momentum risks testing the support at $7,200. Besides, the RSI retreat from the overbought (above 70) hints that sellers could keep on gaining traction against the buyers. On the upside, $7,300 is the immediate resistance. The movement towards the critical $7,400 level must be strong enough to break the resistance at $7,500 in order to pave the way for gains towards $8,000. Bitcoin is barely a month away from its third mining reward halving event scheduled to take place early in May. Past halving events have been characterized by increased volatility prior to and after the process. As speculation mounts across the market, I believe Bitcoin could gain the energy to clear the hurdle at $8,000. Performance following the halving could be the beginning of the much-awaited rally above $10,000 and towards the all-time high. Bitcoin Key Intraday Levels Spot rate: $7,289 Relative change: -80 Percentage change: -1.13% Trend: Bearish Volatility: Expanding
COINBASE:BTCUSDLong
by CoinGape
1
BTCUSD FULL ANALYSISWelcome back traders! We are going to look at BTCUSD today on the monthly, weekly, daily, 12h, and 4h. We will look at Simple Moving Averages(SMA's,) Exponential Moving Averages(EMA's,) Oscillators, Visible Range Volume Profile(VPVR,) and more! MONTHLY The giant pattern on the monthly points to $6,450. We want to see BTC stay above the 21 EMA, currently at $7,323. If we see a major breakout, clearing the 10 day SMA, currently at $8,350, would be indicative of further bullish activity, perhaps even a catapult to a new all time high. The Awesome Oscillator is decreasing at a decreasing pace, but still on track to hit zero. The last time the AO crossed from positive to negative (also at a decreasing rate of decline,) the bull cycle of 2019 began. WEEKLY There is Bullish Divergence on the weekly with the AO. The t3-cci oscillator is negative and increasing at an increasing rate, which is also bullish. The MACD_VXI appears to be beginning convergence, which would be bullish. RSI has locally bottomed at the price of $3,850, which could indicate a low. Currently, the price is resting just above the .382 Fibonacci retracement from $13,800. Daily Our VPVR has the strongest Point of Control(POC) at just above $7,200, with the highest volume node ranging from $7,150 to $7,350 (this indicates a likely strong area for support and resistance.) If these levels break, the next major area for support is just above $6,600. It is also noteworthy that RSI is above 53, which has been a significant level for bullish activity. Lastly, the 50 day SMA is acting as a resistance, and will need to be concurred for further bullish activity. 12H This zoomed out chart of the 12H gives us a target if bullish activity continues, with a POC just about $7,900. The next challenge will be the 100 day SMA at $7,475, which is acting as resistance. 4H Although there is an ascending bearish wedge forming, there are bullish signs on this chart as well. The 10 day and 200 day SMA's just crossed on April 5, and BTC has recently crossed the 200 day SMA as well. Despite the T3-CCI indicator originally heading towards zero, it appears to be curving back up. The AO is decreasing less than it has been, and may see a change in direction soon as well. SUMMARY Long Term Bitcoin is holding up in the long term, and overall bullish. We want to stay above $6,450 according to the giant patterns on the monthly and weekly charts, and we are holding strong above our significant long term POC's. The support along the .382 FIB is a great sign on the weekly, and $7,900 is the next target, assuming bullish activity continues. Short Term The cross between the 200 day SMA and 10 day SMA is a bullish sign, especially with the recent overcoming of the 200 day SMA. The bearish wedge forming on the 4H is a concern and should be monitored closely. Ideally, the price will remain above $7,150 for further bullish activity. Disclaimer: This is NOT trading advice, NOR financial advice! These are merely my opinions that I have posted for educational purposes ONLY. Trading comes with great risk, which should be managed carefully. You should never trade anything more than you are willing to lose. I hope you all kill it, but I am not responsible for any financial loss or damages. Thanks for reading!
BITSTAMP:BTCUSDLong
by CryptoRichCrypto
5
BTC/USD Recovery Undeterred, Is $7,000 The Stepping Stone? Bitcoin price remains bullish after finding support at $6,500. BTC/USD bulls depend on the break above $7,000 to shift the recovery focus to $8,000. Bitcoin price has been dealing with extreme volatility levels mainly driven by the fear caused by the Coronavirus pandemic. However, the digital asset appears to be gaining resilience based on the recovery moves it pulled on Friday and Monday. Last week, the Bitcoin price broke above a key resistance zone at $6,000. Impressive upside action approached the critical $7,000 zone. Unfortunately, a breakout did not materialize, leaving BTC/USD vulnerable to losses under $6,000. Bitcoin Price Bullish Scenario At the time of writing, BTC/USD is trading at $6,576 after adding over 1.5% of gains on Tuesday. The Asian hours have been characterized by increased buying entries, however, it is still not enough to sustain movement towards $7,000. Generally, Bitcoin price trend remains in the able hands of the bulls. This is emphasized by the up-trending Relative Strength Index (RSI). The indicator has since the crash to levels under $4,000 formed a higher high pattern. With the RSI under the average, room for growth is plenty as long as the buying volume increases steadily throughout the week. The zone at $7,000 has been tested once, making it a critical area. If BTC/USD steps above it, buyers could get a boost as the focus shifts to $8,000. On the other hand, failure to clear the resistance could result in exhaustion of the bulls and a bearish action back to $6,000. Despite the bullish momentum, selling pressure cannot be ignored especially if the 50-day SMA continues to close the gap towards the 200-day SMA. Bitcoin Key Levels Spot rate: 6,576 Relative change: 85 Percentage change: 1.20% Trend: Bullish Volatility: Shrinking
COINBASE:BTCUSDLong
by CoinGape
1
Short NZD/JPY setup 3/18/20This was a well executed trade. I waited patiently and executed for the most part without fear. I wasn't thinking while executing but more so focusing on my process. I've adopted the belief that "getting into the habit of taking profits off the table, discipline" is a useful belief. It caused me to close the position at 11 pips profit. I believe this to be a useful belief but I must also cut losses prior to my SL if I'm also going to TP before 1:1 RR
Short
by ShrewdCatfx
1
XRP Remains Rangebound But Can This Bullish Momentum Continue? XRP saw a small 1.5% price increase over the past 24 hours of trading as it reaches $0.24. It has been bouncing around within a range between $0.24 and $0.228 for the past week of trading. Bitcoin finally managed to climb back above $8,900 as it brings the rest of the market higher. XRP saw a 1.5% price increase as it heads back into the resistance at the $0.24 level. The cryptocurrency managed to find support at a .886 Fibonacci Retracement level $0.228 to stall the latest price decline. Since reaching this level of support the cryptocurrency has been bouncing between $0.228 and $0.24 as it trades sideways within this trading range. XRP remains the 3rd largest cryptocurrency with a total market cap valuation of $10.48 billion. Market Overview: Since our last analysis, XRP continued to struggle to break above the resistance outlined at $0.24. It continued to trade within the range between $0.24 and $0.228 over the past few days of trading and has recently just returned to the upper boundary. Short term prediction: NEUTRAL XRP remains neutral after establishing the aforementioned trading range. It would need to climb above $0.27 before we can even start to consider this market as starting to turn bullish. A break beneath the lower boundary of the range would turn the market bearish. If the buyers break $).24, the first level of resistance lies at $0.251 (bearish .236 Fib Retracement). This is followed by resistance at $0.27 (bearish .382 Fib Retracement), $0.285 (bearish .5 Fib Retracement), and $0.30 (bearish .618 Fib Retracement). Alternatively, the market should find strong support at $0.228. If it breaks beneath here, additional support lies at $0.22, $0.212 and $0.204. Key Levels: Support: $0.2281, $0.22, $0.218, $.212, $0.204, $0.20, $0.195. Resistance: $0.24, $0.25, $0.251, $0.264, $0.27, $0.28, $0.285, $0.29, $0.30.
COINBASE:XRPUSD
by CoinGape
NZDCAD short 1:1 RR from 1hr Resistance I took this short because at the time I thought that it was a valid trade. I followed my process, I followed my plan... however during the middle of the trade I realized that the 15m structure over the last 24 hours was creating HH's and HL's. This does not meet my setup criteria. It took this trade for me to realize that I need to add this concept to my filtering process in the morning. That's what I took from this trade. Additionally my execution on the supposed "valid " trade was poor as well. I was rushing to get my entry in. I feel like my more refined process will enable me to relax and trade logically. Not consumed by the Fear of Missing out. That is if I decide to follow the plan/process I have for myself each morning. Price actually got to TP area but my intuition was telling me that we were going to keep heading down. I removed TP order and price decided to reverse on me. I suppose this is another lesson. Take what the market gives you.
Short
by ShrewdCatfx
platinum Platinum has sold quite aggressively for the past couple of days. We are back on that demand line we have been founding support for the last few weeks now. If buyers continue finding value on these levels we will finally pass the high at 985 and eventually the higher resistance level at 1020 IF not next stop bellow is the 940s level . As we can see on the MACD negative momentum so far has been building up with no signals of divergence . Also the more price bounces on a trend line the buying power reduces and looking left we have been bouncing on this trend line for a while. Good sing though is that we are now sitting just above the average price of Platinum that the last 50 days give as the 50 day MA on the Daily confirms and that has been a strong support so far . Signals on this are mixed right now.
P
by django2