Bitcoin Price Technical Analysis: BTC/USD Extends Consolidation Action

The Bitcoin’s sideways action is gaining strength in what has so far been a quiet month. However, the digital currency, unlike its mainstream cousins, is displaying adequate volatility for day traders to enter and exit positions on attractive intraday profits. The focus remains firmly on the Securities and Exchange Commission’s take on the nine Bitcoin ETF applications it has received. Speculators believe the US regulator would eventually approve one of these drafts. The factor alone could be influencing traders to hold their aggressive short entries. Significant monies are not going…

Technical Indicators Recommend ETH Sells

Though liquidity is building, there are limitations for further upsides as ETH consolidates. Unless there are rallies above Sep highs and $250, our previous Ethereum trading plan is valid. For now, we recommend taking a neutral stand until our ETH trade conditions are met. Latest Ethereum News DEXs are not as common as their centralized counterparts. Though exchanges as BitFinex are seeing benefits of spreading out and capturing demands on both ends, it will take time before ETHFinex registers high trading volumes. It’s in this realization that BitFinex are promoting…

Bitcoin Price Technical Analysis: BTC/USD Confirms Inverse H&S

Bitcoin on Wednesday rose over 3.5 percent against the US Dollar on a bounce back from previous day’s low towards $6,330. The BTC/USD on 1H timeframe has just confirmed the completion of an inverse Head & Shoulder (IH&S) pattern with neckline situated near 6500-6515-fiat area. A buy stop order above the neckline has brought us a decent profit already. We are now in a breakout phase which traditionally has a probability of being false in case of an IH&S pattern. Waiting for a retrace could be ideal at this point of…

Various Technical Indicators are Showing Bitcoin is Severely Oversold

Williams %R, a technical analysis oscillator that demonstrates oversold or overbought conditions of an asset, is demonstrating highly oversold conditions for Bitcoin. As Olga Kharif at Bloomberg reported, the Williams Percent Range (WPR) of Bitcoin is hovering at around -83 percent. In WPR, -80 to -100 percent is considered oversold and -0 to -20 percent is oversold. Analysts state that the oversold condition of Bitcoin demonstrated by WPR could lead to a short-term corrective rally in the future, which may enable Bitcoin to break out of a major resistance level…

Bitcoin Price Technical Analysis: BTC/USD Hinting Breakdown Action

Bitcoin price on Wednesday recorded a marginal drop of 0.25 percent against a strong U.S. dollar. The BTC/USD today stayed on its prevailing sideways trend, exhibiting intrarange fluctuations of just around $100. The pair began the Asian trading session sheepishly, forming lower highs towards 6308-fiat and lower lows towards 6219-fiat. The sideways sentiment continued as the pair headed into the European session. The Bitcoin market generally suggested an equivalency between supply and demand. Traditionally, the period of consolidation should continue until a breakout/breakdown action gives it away. BTC/USD Technical Analysis…

Bitcoin (BTC) Technical Analysis: Prices Reversing From $6,000

From a top down approach, it’s clear that sellers are in charge as BTC is down a massive 11 percent thanks to Sep 5 selling spree. Regardless, there is optimism for cryptocurrencies and Bitcoin in particular stemming mainly from bullish fundamental developments. This divergence means there is potential for BTC to recover in coming days. Because of yesterday’s double bar reversal pattern right at $6,000, a foundation for a potential recovery above this descending wedge is probable. From the News Around this time last year, Bitcoin and China were synonymous.…

EOS, Litecoin, Stellar Lumens, IOTA, Tron Technical Analysis

As altcoins prices fluctuate, out trade plans continue to hold true. While we remain bullish on most coins as EOS, Tron, Litecoin and IOTA, the latter shows promise. It all has to do with on chain development and with Roman simulation prove that it’s possible for the tangle to reach consensus within seconds and process up-to 11,500 TPS, IOTA investors should be upbeat—and they are. Just finished a basic test of ~95.000 network simulations for our consensus theory. Confirmation time from few seconds up to few minutes depending on the…

Ethereum (ETH) Technical Analysis: Ethereum (ETH) Undervaluation Persists

Contrary to sentiment and upbeat expectation from within the crypto market, Ethereum is struggling against sellers. At spot prices, the second largest coin is down four percent. This is amid claims of discontentment  by some developers that the Constantinople hard fork deadline and expectations are overwhelming—if not unrealistic. From the News In a bid to contribute towards a more open financial system that helps foster creation of equal opportunities, efficiency and above all economic freedom via cryptocurrency and blockchain, CoinBase will try to evangelize the benefits of crypto and innovate…

IOTA, EOS, Stellar Lumens, Cardano, Litecoin Price Technical Analysis

It’s a ball park four percent gain in the altcoins market with IOTA spearheading the recovery with a 15 percent gain yesterday. Based on price action, we expect a continuation of yesterday’s greens and in that case positives in ADA, Stellar Lumens, IOTA, EOS and even the deep Litecoin which is less than $5 from $50 main support line. Let’s have a look at these charts: EOS Technical Analysis EOS Daily Chart by Trading View Though the EOSIO blockchain is vulnerable to RAM exploitation, the community is always innovating devising…

EOS, Litecoin, Stellar Lumens, Monero, Cardano (ADA) Technical Analysis

On a second look, there is a low level altcoin loss reversal in the making. Prices are in the red but with a five percent gain in Bitcoin over the same period, we might see higher highs in EOS, Litecoin, Monero, Stellar and Cardano (ADA) today if not for the rest of the week. The reason is simple: Bitcoin leads the altcoin market. Since most are pegged to it, any gain or loss in Bitcoin would draw altcoins in that direction regardless of coin specific fundamentals in question. Let’s have…