FutureBlockchain

FutureBlockchain

Hi all, Let's also have a quick look at how ETH is performing at the end of the workweek. The coin manage to break above $240 in the evening hours on Wednesday and avoided falling into the bear flag trap. However, it is struggling to get past $245-$246 now and the overall decrease of volumes is not helping the situation. Volumes dropped from $14 billion on...

FutureBlockchain

Hi all, I hope you are all doing fine and you are in a good mood on Friday, ready for the weekend. But before that, let's have one more look at BTC this week. The leading cryptocurrency is slowly, but surely making its way up again after the flash crash on Tuesday. The $9,500 support line was brilliant in preserving the uptrend and it survived numerous attempts...

FutureBlockchain

Hi all, Ethereum responded quite well to the recent crypto market drop and continues to climb. The Ascending triangle pattern on the 1-h chart we mentioned yesterday resulted in a great move to $253, so it was a pity how the BitMex drop killed the vibe here. So, no we have to talk about the bear flag (again 1h chart) that is about to fall on us: this can...

FutureBlockchain Updated 

Hi all, So, BTC made a huge drop yesterday after it was unable to surpass $10,360 and print a new year-to-date high there. I will probably repeat myself but, this horizontal resistance is not there for no reason. The $10,360 level is not just a random number, but quite a heavy level as it was reached several times already in the last 7-8 months. It was also...

FutureBlockchain Updated 

Hi all, So, on Friday we did re-test $9,300 as expected and what we saw on Saturday was a solid breakout attempt, which allowed BTC to reach $9,705 after it managed to rebound from the local uptrend line (purple) On Sunday, May 31, the double top formation, which was in the making on the 1-h chart was invalidated and BTC climbed out of the bull flag that was...

FutureBlockchain Updated 

Hi all, XRP made a pullback to $0.197 on Friday hitting the 50-day EMA, after yet another failed attempt to break into the zone above $0.20. As commented on our last update, the coin was trading in the $0.192 - $0.20 range for almost ten straight days without being able to establish a trend and this is nothing new for the "ripple". Just a consolidation period...

FutureBlockchain Updated 

Hi all, Ethereum successfully surpassed the $216-$220 zone on Friday and broke above the last possible major retracement level from the mid-term downtrend. On Saturday, May 30, it continued to march up and hit $243 in its best one-day increase since April 6. The last day of the month came with a drop to $231 as the coin erased 5 percent in an expected pullback,...

FutureBlockchain Updated 

Hi all, BTC hit the resistance at $9,600 yesterday evening and was not able to break above it, suffering a hard rejection there. Now let's see if on the 4-h chart we manage to find support near the 100-day EMA (blue curve) or the local uptrend (purple line). As mentioned yesterday, on the 1-h chart, it is of critical importance to close above $9,300, so the...

FutureBlockchain Updated 

Hi all, XRP is definitely beaking out of the downtrend since yesterday, but it is still struggling to move above the $0.20 resistance. Nothing new for the "ripple" actually as we have seen a similar ranging a few times in the recent past. For instance, in the 10-29 April, it stayed in the $0.198-$0.180 zone for more than two weeks before starting a short bull...

FutureBlockchain Updated 

Hi guys, We already discussed a few times in the past the importance of the $220 zone. It is where the 61.80 Fibonacci retracement level lies and survived more than one attempt in the last few weeks. The difference now is that price has surpassed the diagonal resistance, so the mid-term downtrend was broken, weakening the horizontal resistance. On the lower...

FutureBlockchain Updated 

Hi all, I said it many times - in trading, we need to just try to silence the social media noise and some false prophets looking just for likes/comments. It's funny how 1.5 days ago those "analysts" were all bearish on BTC and were drawing some stupid lines and corridors down, predicting the end of bitcoin etc, and now they are once again "slightly bullish"......

FutureBlockchain Updated 

Hi all, Looks like XRP is making some progress finally, breaking above the mid-term downtrend today. Bulls are now ready to surpass both the 50 and 100 day EMAs that just crossed one another on the daily chart. A closure above $0.20 or even better - in the middle of the $0.20-$0.215 zone today will be quite positive. The one thing that worries me is a descending...

FutureBlockchain Updated 

Hi guys, ETH is now above the mid-term downtrend line, which is now acting as support as visible from the price movements in the last three days. The coin is also successfully defending the $200 horizontal support and hasn't closed below this level since May 21. The double top was invalidated. On the 1-h chart it's also visible that the ether found its...

FutureBlockchain Updated 

Hi all, So, BTC is trying to get back above the horizontal S/R line at $9,000 after making a double bottom to the $8,700 support, which resulted in a failed attempt from bulls to break it. 4h-chart I'm seeing few obstacles in the way which are the previously stable uptrend line and the 200-day EMA, so let's see how these react and if a reversal to the upside...

FutureBlockchain

Hi all, As commented on my Friday update for ETH, there were two possible directions it could take. First, a continuation of the downtrend and a drop to the next support zone around $187-190, and then possibly to $175. The second was to stabilize above the horizontal S/R line at $200 and consolidate for an attack of the next targeted zone near $216-$220. The...

FutureBlockchain

Hi all, Bitcoin made three unsuccessful attempts to regain positions above the first diagonal resistance on its way to $10,000. As commented on my quick update yesterday (here: ) ,bitcoin was forming a bear flag on the 4-h chart and even though it managed to stay above the already-mentioned downtrend line, this was more of a fake recovery that resulted in a...

FutureBlockchain Updated 

Hi all, Yesterday, ETH followed the example of BTC and made a sharp correction to its price. It erased 5 percent of its value and moved down to $198. Luckily, it found support at the psychological level of $200 and today is trading a little bit higher, also above the mid-term downtrend, diagonal resistance. It is also worth noting that during yesterday's drop,...

FutureBlockchain Updated 

Hi all, So, I was right something big is about to happen given the squeezing price action on Wednesday. BTC, however, was not able to make the big leap forward as suggested and instead suffered a hard rejection. The double top around $10,000 and the really solid horizontal resistance there, in combination with the dynamic line coming down from February were...