Bitcoin Price Watch: BTC Runs Into Crucial Resistance, What’s Next?

Bitcoin price climbed higher sharply after diving below the $3,480 support level against the US Dollar.
Yesterday’s highlighted key bearish trend line is intact with resistance near $3,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is facing a crucial resistance near $3,600, above which it could rally towards $3,700 or $3,750.

Bitcoin price is showing positive signs above the $3,520 level support against the US Dollar. Having said that, BTC is struggling to clear the key $3,600 resistance level.
Bitcoin Price Analysis
Yesterday, we discussed the chances of more losses below the $3,500 level in bitcoin price against the US Dollar. The BTC/USD pair did decline below the $3,500 and $3,480 support levels. The pair spiked towards the $3,450 level and later bounced back. Buyers were successful in pushing the price back above $3,480 and $3,500. It can be considered as a false break since there was no hourly close below $3,480. The recent recovery was solid above $3,550 and the 50% Fib retracement level of the downside move from the $3,700 swing high to $3,465 low.
However, the price ran into a significant resistance near $3,600 and the 100 hourly simple moving average. More importantly, yesterday’s highlighted key bearish trend line is intact with resistance near $3,600 on the hourly chart of the BTC/USD pair. Finally, the 61.8% Fib retracement level of the downside move from the $3,700 swing high to $3,465 low is also acting as a hurdle. Therefore, there are two possible scenarios, with the pivot level at $3,600. First, the price breaks the trend line and $3,600 to start a solid upward move. Second, buyers fail to gain traction above $3,600, resulting in a drop back to $3,500.

Looking at the chart, bitcoin price seems to be trading near a crucial juncture at $3,600. There are high chances of more gains, but it won’t be easy for buyers to clear the $3,600 barrier.
Technical indicators
Hourly MACD – The MACD for BTC/USD is slowly moving back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently placed nicely above the 50 level.
Major Support Level – $3,500
Major Resistance Level – $3,600
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Bitcoin Price Analysis: BTC Lift Off, Cross-Hairs at $4,500

Bitcoin Price recover, bulls bounce back
Market leaders set positives in Blockchain and crypto
There is a jump in market participation level. Volumes swell in the 4HR time frame

After Jan 20 drops, BTC is finding support at around $3,500—the lower limit of our support zone. As a result, there is a likelihood that Bitcoin prices will rally in coming days.
Bitcoin Price Analysis
Fundamentals
Jerry Yang has been a longtime fan of blockchain and cryptocurrencies. So, his recent comment at the Nikkei Innovation Asia Forum held in Singapore is nothing new. At the Forum, he said blockchain is a perfect fit for banks and trading.
Yang is particularly impressed by the type of infrastructure in progress saying it shall have a long-term implication. However, this is not the first time he has endorsed this nascent technology.
In a CNBC interview back in late 2017,  the Yahoo Co-founder said he was a firm believer in cryptocurrencies and the efficiencies it tags goes a long way in benefiting the society not only from transactions point of view but from it does create a transparent system.
As we know, banks’ operations are often opaque, and it is common to hear of large settlement after being held accountable for facilitating money laundering or defrauding customers.
Candlestick Arrangements

At spot rates, BTC prices are stable and positively hovering above the lower limit of our support zone at $3,500. From candlestick arrangement, this is bullish, and if anything, developments, especially in the 4HR chart, is exceptionally optimistic meaning aggressive traders can initiate positions at spot rates.
Behind this optimism is a bullish pin bar—clearer in the 4HR chart—bouncing off Jan 20 lows at the back of above average volumes—5k versus 2k. Increasing demand in lower time frames means there is a similar pattern in the daily chart, lifting investor confidence.
All the same, we shall interpret this as positive, but before we recommend risk-averse traders to buy, BTC prices first need to rally above $3,800 or Jan 14 highs. Only then will traders execute with first targets at $4,500 with liquidation level at around $3,500-700.
Technical Indicators
There is a rejection of lower lows and backing this resurgence is increasing demand for BTC as aforementioned. The double bar bull reversal pattern in the 4HR chart is at the back of high trading volumes—5k versus 2k. Because of this, risk-off traders can buy at spot rates, but it is ideal if there is confirmation as a spike in market participation drive prices above $3,800.
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Ripple Price Analysis: XRP “Hostile Takeover” Rumor Quashed

Ripple price strong supports from around 30 cents
Valor Foundation plans of hard forking the Ripple Ledger
XRP demand grows in lower time frames, volumes rise

Even though Jan 20 sellers did wipe out strides, XRP did find support at around 30 cents. With all-around bullish fundamentals, it is likely that bulls will rally and break above 40 cents in the near term.
Ripple Price Analysis
Fundamentals
If the XRP Hostile takeover rumor is even remotely close to the truth, then XRP bag holders should be ready for a blood bath. Hostile takeovers are rare in traditional markets, and a forceful change of management is simple: the acquirer–in our case Vishal Harpalani’s Valor Foundation—identifies an unwilling target company—the “victim” ,in this case, Ripple Labs official issuers of XRP.
Their tactic: raise “tens of millions of dollars,” trigger a price collapse via debt instrument and later hard fork the Ripple ledger. Note that, this move can flop and as a $14-billion-dollar Silicon Valley behemoth, weaned off VC funds and controlled by a determined company, Ripple, ready to defend its turf, we doubt if this can happen.
Exuding confidence, Brad had this to say:

.@danprimack wants to sell some snake oil… any buyers out there!? Media have a responsibility to help the industry understand what’s hype vs. substance, not to propagate blatant attempts at market manipulation. When will media coverage of this industry mature? https://t.co/QzZ3MxoyNR
— Brad Garlinghouse (@bgarlinghouse) January 15, 2019

To defend their publication, the editor at Axios said:

I’m not selling anything to anyone Brad, and you know that. I have zero financial interests in anything crypto. reported on something and clearly said that it is unlikely to work. If it’s about market manipulation, then it was a lousy attempt as xrp is down a whopping penny today
— Dan Primack (@danprimack) January 15, 2019

However, should Valor Foundation raise enough funds and cause an XRP death spiral, their success would help strengthen their overall objective of building a reliable digital payment system tailor-made for those who can’t access banking or other financial services mostly in developing economies.
Candlestick Arrangements

Like BTC, XRP is rejecting sell pressure, and after initial accumulation, demand is increasing in lower time frames. Upswings like this cement our previous position, validating our XRP/USD trade plan. Although we expect prices to rally—now that we have a bullish pin bar near our main support at 40 cents, we recommend maintaining a neutral position. That’s until after there is a clear break above the 50 percent Fibonacci retracement level. The level is the 34 cents mark based off Dec 2018 high low. 34 Cents is significant because the  level meshes with Jan 14 highs.
Once prices rally above 34 cents, risk off traders can initiate longs on pullbacks with first targets at 40 cents. From there on, risk-averse traders can buy at spot rates with modest targets at Dec 2018 highs of 60 cents.
Technical Indicators
Guiding our short-term trade plan is level of market participation. A stand out in recent days is Jan 10 bear bar printing in a predominantly bullish market. We have reiterated this stating that for bulls to be in the driving seat then trade volumes must spike above recent averages of around 17 million and exceed Jan 10 trade volumes of 83 million. No doubt, such rallies will lift prices from spot levels to above 40 cents. In turn, this will lay the foundation for further gains towards $1.
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Tron Price Analysis: Oracle Partnership Rumor Pumping TRX?

Tron Price, surge 5.2 percent
Oracle—Tron Partnership rumor yet to be confirmed
Transaction volumes low, likely to build up ahead of 4 cents retest

Days after NiTron, TRX is making good progress and is solid above 2.5 cents as traders search for buying opportunities in lower time frames. Add this to a probable partnership with Oracle, the path of least resistance seems to be up.
Tron Price Analysis
Fundamentals
News has it that Oracle is the latest software company to “partner” with Tron. As a smart contracting and dApp platform with ambitions of dislodging Ethereum as a go-to platform, this announcement should be making waves. Oracle is one of the world’s leading software company offering diverse services ranging from cloud applications to a multi-model database management system.

Oracle #blockchain team visited #TRON Foundation HQ in SF.Diving deep on #SmartContracts #Tokenization and partnership opportunities. #TRON to the future. #TRX $TRX https://t.co/Hq3Y4IETlW
— Justin Sun (@justinsuntron) October 20, 2018

Back in 2014, it was the second largest software company by revenue streams after Microsoft.  In a tweet, Justin Sun said a blockchain team from Oracle had visited their San Francisco offices. However, we cannot get ahead of ourselves and confirm that there indeed is a partnership without official confirmations.
Justin confirmed that aside from discussing smart contracting and tokenization, they did touch a topic or two on “partnership opportunities.” At the moment, nothing is official despite Sun’s row of strong claims during the Summit.
Candlestick Arrangements

On the chart, TRX is less than $150 million away from displacing Litecoin as the eighth most valuable coin in the space. It remains a top performer, adding 5.2 percent in the last day and breaking away from the 2.5 cents mark as bulls aim to reverse Jan 10 losses.
At this pace, our TRX trading conditions are live. Both sets of traders can add to their longs at spot prices with fitting liquidation levels at Jan 21 lows of 2.5 cents.
Targets will remain the same, and as long as prices are trending above 2.5 cents, the double bar bull reversal pattern of late Dec 2018 and Jan 13-14 will be valid and indicative of the current trend.
Technical Indicator
Even with this, participation volumes are low—averaging 20 million at the time of press which is low when compared to those of Jan 10—95 million. Regardless, the trend remains bullish, and participants are maintaining this pressure meaning that the retest of 4 cents would be volatile and probably backed with high volume surges.
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Bitcoin Price Watch: BTC At Continued Risk of Weakness

Bitcoin price remained in a bearish zone below the $3,580 and $3,600 resistance levels against the US Dollar.
There is a major bearish trend line in place with resistance near $3,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is currently trading inside an expanding triangle with resistance near the $3,580 level.

Bitcoin price started consolidating losses above the $3,480 support against the US Dollar. BTC is likely to face a strong selling interest near the $3,580 and $3,600 levels.
Bitcoin Price Analysis
Yesterday, there was a significant downward move below the $3,650 support level in bitcoin price against the US Dollar. The BTC/USD pair even traded below the $3,560 support level and the 100 hourly simple moving average. It spiked below the $3,500 support and a low was formed near the $3,465 level. Later, the price recovered a few points above the $3,500 and $3,525 resistance levels. Besides, there was a break above the 23.6% Fib retracement level of the last drop from the $3,701 swing high to $3,467 low.
However, the previous support near the $3,550 and $3,560 levels acted as a strong barrier for buyers. The price even struggled to test the 50% Fib retracement level of the last drop from the $3,701 swing high to $3,467 low. There were a couple of swing moves near the $3,550 level, with no upside break. At the outset, the price is trading inside an expanding triangle with resistance near the $3,580 level. Moreover, there is a major bearish trend line in place with resistance near $3,600 on the hourly chart of the BTC/USD pair. Therefore, a break above the $3,580 and $3,600 resistance levels is needed for a decent recovery.

Looking at the chart, bitcoin price may continue to trade in a range below the $3,550 and $3,580 levels. The next move in BTC could be either above the $3,600 resistance or below $3,480.
Technical indicators
Hourly MACD – The MACD for BTC/USD is about to gain traction in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well below the 50 level, with a bearish angle.
Major Support Level – $3,480
Major Resistance Level – $3,600
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Ripple Price Analysis: XRP’s Recovery Could Face Major Hurdles

Ripple price traded towards the $0.3100 level recently and later started a correction against the US dollar.
There was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently following an ascending channel with support at $0.3160 on the same chart.

Ripple price is slowly recovering against the US Dollar and Bitcoin. However, XRP/USD is likely to face a lot of hurdles on the upside near the $0.3220 and $0.3250 levels.
Ripple Price Analysis
Yesterday, there was a sharp decline in ripple price below $0.3300 similar to Ethereum and bitcoin against the US Dollar. The XRP/USD pair even broke the $0.3200 support and settled below the 100 hourly simple moving average. It traded close to the $0.3100 level and formed a low at $0.3102. Later, the price started a short term upside correction and traded above $0.3150 and $0.3160. Buyers pushed the price above the 23.6% Fib retracement level of the recent slide from the $0.3350 high to $0.3100 low.
Moreover, there was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair. The pair traded towards the $0.3220 level, which acted as a solid resistance. However, there was no test of the 50% Fib retracement level of the recent slide from the $0.3350 high to $0.3100 low. Therefore, there are chances of more upsides towards the $0.3225 and $0.3250 levels. The price action is still bearish and it seems like it won’t be easy for buyers to clear the $0.3220 and $0.3250 resistances.

Looking at the chart, ripple price is currently following an ascending channel with support at $0.3160. There could be a short term spike towards the channel resistance, $0.3220, and the 100 hourly SMA. A failure to gain momentum above these barriers could result in a fresh decline to $0.3100.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is about to move back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 50 level, with a flat bias.
Major Support Level – $0.3160
Major Resistance Level – $0.3220
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Ethereum Price Analysis: ETH Consolidating Below Crucial Barriers

ETH price declined recently below $120 and tested the key $112 support area against the US Dollar.
Yesterday’s highlighted important bearish trend line is intact with resistance at $118 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently consolidating below the $118 and $120 resistance, with a few positive moves.

Ethereum price is placed in a bearish zone against the US Dollar and bitcoin. ETH/USD must break the $118 and $120 resistances to start a short term upside correction.
Ethereum Price Analysis
Yesterday, we saw a nasty decline in ETH price from the $125 swing high against the US Dollar. The ETH/USD pair broke the $122, $120, $118 and $115 support levels to move into a bearish zone. It tested the $112 support area where buyers emerged. Later, the price started consolidating losses and corrected a few points above the $114 level. It traded above the 23.6% Fib retracement level of the last slide from the $123 swing high to $112 swing low.
However, there are many hurdles on the upside near the $118 level. The price made a couple of attempts to surpass the $117-118 zone, but buyers failed to gain momentum. Besides, the 50% Fib retracement level of the last slide from the $123 swing high to $112 swing low is also near $118. More importantly, yesterday’s highlighted important bearish trend line is intact with resistance at $118 on the hourly chart of ETH/USD. Finally, the 100 hourly simple moving average is positioned near the $120 level. Therefore, both $118 and $120 levels are crucial barriers for buyers in the short term.

Looking at the chart, ETH price may continue to trade in a range above $112 before the next move. If buyers push the price above the $118 and $120 resistance, there could be a recovery towards $125. If not, the price could retest the $112 or $110 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slightly placed in the bullish zone, with a flat structure.
Hourly RSI – The RSI for ETH/USD is currently moving higher towards the 50 and 55 levels.
Major Support Level – $113
Major Resistance Level – $120
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Tron Price Analysis: TRX Trend Setting, Up 18% From Last week’s Close

Tron prices surge, adds 7.8 percent in the last day
Justin Sun hires former SEC official; crypto is no scam
Accompanying recent surges are high trade volumes

While most trading pairs register losses, TRX is a top performer and up 7.8 percent in the last day. At this pace, TRX bulls will likely drive prices towards 4 cents in coming few days.
Tron Price Analysis
Fundamentals
In one of Nouriel Roubini tweetstorm, the NYU professor goes to great length discrediting crypto calling the burgeoning market a “4800 Pump & Dump schemes! Crypto is THE most manipulated financial market in ALL human history & manipulation of “assets” that are all shitcoins & worth ZERO. It makes the Wolf of Wall Street look like a naive amateur. And in spite of this sleaze shitcoins lost 95% this year!”
It is for this very reason why Justin Sun is hiring a former SEC official as an endorsing statement that crypto—including TRX—is legit and investors should pour their hard-earned monies without fear. His aim is not only to advocate for tailored regulation that rids the ecosystem of scam artists but to make Tron one of the most compliant platforms in the world.
Candlestick Arrangements

Meanwhile, TRX is back and topping the performance charts. It’s only Monday, and TRX is up 7.8 percent in the last day and a massive 18 percent in the previous week as our TRX/USD trade plan is validated. Like before, we are net bullish on TRX not only because of trends set by Jan 14 and Dec 17 but the sheer resistance of lower lows in the past few days.
Aside from that, trend direction is positive sloping and the ability of bulls to maintain prices above 2.5 cents hints of underlying demand in lower time frames. Since the double bar bull reversal pattern of Jan 13-14 is now correct, both set of traders—risk-averse and risk-off, can buy at spot rates with first targets at 4 cents. Safe stops should be at 2.1 cents.
Technical Indicators
Compared with Jan 14—50 million or Jan 10—95 million, transactional volumes are low. Even so, the fact that today’s volumes may surpass recent averages of 19 million reveals underlying demand and the trend of the next few days. As long as volumes increase and prices follow suit, then traders can fine-tune entries in lower time-frames with the first target at 4 cents.
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Ripple Price Analysis: XRP Accumulation, Bull Pressure Building Up

Ripple prices stable above 30 cents
SWIFT—Ripple competition should heat up in coming days
Transactional volumes low and dropping

XRP success depends on adoption. That’s why an increase in xRapid users is bullish for investors. Even still, the slide of XRP prices have been deflating, and after 12 months of lower lows, we expect Sep 2018 to guide medium to long term price trajectory.
Ripple Price Analysis
Fundamentals
As long as SWIFT dominates, we expect determined competitors to step up their marketing, pitch to potential clients—mostly in areas where most are unbanked and without access to financial services. Such has been the effort of Ripple.
With three main products—xCurrent, xVia, and xRapid, we can conclusively say they have been largely successful. However, they still have a long way to go. As a ledger that caters explicitly for financial institutions, the only way average investors will reap benefits is when majority banks incorporate Ripple’s technologies and adopt xRapid.
The latter is a solution that guarantees speed, efficiency and cost saving made possible because it uses XRP as a liquidity tool. Thus far, 13 companies are benefiting from xRapid, but 13 is a mere drop in a cross border global payment system estimated to move $2 trillion by 2020. Should Ripple win over clients and there is regulatory clarity around XRP and xRapid, we expect demand to surge, lifting prices with it.
Candlestick Arrangements

At the time of press, XRP was up 1.2 percent from yesterday’s close, exchanging hands at around 32 cents against the USD. Considering yesterday’s price sinks, this is positive and cements our previous assertions.
However, conservative as well as aggressive traders ought to be on the sidelines until after our trading conditions are valid. Because we are net bullish with guidance from Sep 2018 surges, a safe approach is to wait until clear price swings are driving XRP above 34 cents.
A simple Fibonacci retracement between Dec 2018 high low places this buy trigger line at the 50 percent level. That’s above Jan 20 highs meaning for the first wave of higher highs to hold then buyers must reverse yesterday’s losses preferably at the back of above average trade volumes—above 24 million.
After that, the foundation for further gains towards 40 cents would be firm and conservative traders would be anticipating possible rallies towards Dec 2018 highs of 60 cents.
Technical Indicators
From a conservative approach, traders and investors would be tracking XRP buyers’ ability to reverse yesterdays and Jan 10 losses. With volumes of 83 million against 30 million averages, a bull buildup is necessary. To reiterate our stand, any volume surge driving prices above 34 cents (or below 30 cents) should exceed 24 million and ideally 83 million confirming demand or supply depending on breakout direction.
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Bitcoin Price Analysis: $3,800 is Definitive for BTC

Bitcoin Price drop 4.1 percent in the last day
Wyoming could be the blockchain and crypto center in the US
Participation levels low, prices may consolidate in days ahead.

Despite bullish fundamentals, BTC continues to cede ground against the USD. At spot rates, prices are steady and trending within our support zone. Unless otherwise there are sharp gains above $3,800, sellers may snap back to trend.
Bitcoin Price Analysis
Fundamentals
Wyoming may be the center of crypto attention thanks to their openness and embrace of new technology, but the real deal is the endorsement from the United Nations.
In their latest World Economic and Social Survey 2018 Report, a multinational organization made up of 193-member concluded that Bitcoin and cryptocurrencies, in general, were a new frontier in the finance. Of course, this is no brainer.
For a technology that is barely ten years, the underlying technology is not only disruptive but brings about efficiency, transparency and above all a new level of ownership. It is because of these inherent properties that the organization firmly believes that businesses can build new business models around the benefits of crypto and blockchain.
“The innovativeness of this system lies in the way in which the various parts combine to create the trust and guarantees that the traditional financial system derives from institutions and regulation…As such, the blockchain technology presents the possibility—a first in the field of finance! —that trust in institutions backed by a government can be replaced by trust in computer code.”
Candlestick Arrangements

Even with that, BTC is struggling against a strong wave of sell pressure. At spot rates, the coin is stable in the last day as prices hover around yesterday’s close. Nonetheless, our projection is bullish. Note that prices are yet to breach through our support zone.
When we paste a Fibonacci retracement tool, our immediate support lies between $3,500 and $3,700 flashing well with the 61.8 and 78.6 percent Fibonacci levels based off Dec 2018 high low. However, because of yesterday’s downturns and sharp losses from above $3,700, we recommend patience until after prices rally above $3,800.
After that, first targets will remain as before– at $4,500 and $5,000. The only bummer is if there is confirmation of yesterday’s losses and prices slide, complementing Jan 10 losses as prices dip below $3,500—the lower limit of our support zone. That likelihood will most likely catalyze further declines towards $3,200.
Technical Indicator
Average transactional volumes are still low. Yesterday’s bear bar for example printed above average volumes at 20k against 12k which is still low. Ideally, for a convincing break below or above, volumes should be above 35k rivaling those of Dec 17 (bull bar) or Jan 10 (bear bar).
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Bitcoin Price Watch: BTC’s Trend Overwhelmingly Bearish Below $3,600

Bitcoin price failed to break the $3,750 resistance and declined sharply against the US Dollar.
There was a break below a crucial bullish trend line with support at $3,620 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is currently recovery, but it likely to face a strong selling interest near $3,560 and $3,600.

Bitcoin price fell significantly below the $3,600 support against the US Dollar. BTC is currently trading in a downtrend and it could resume its decline if it fails to surpass $3,600.
Bitcoin Price Analysis
This past week, there was a slow and steady rise above the $3,600 level in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,700 resistance level. However, it seems like buyers failed to gain strength above the $3,750 level. As a result, there was a strong downward move and the price declined below $3,700 and $3,600. The decline was such that the price settled below the $3,600 support and the 100 hourly simple moving average.
More importantly, there was a break below a crucial bullish trend line with support at $3,620 on the hourly chart of the BTC/USD pair. Sellers pushed the price below the key $3,550 support, opening the doors for more losses. A low was formed at $3,470 and the price is currently correcting higher. It moved above the $3,520 level and the 23.6% Fib retracement level of the recent decline from the $3,729 high to $3,470 low. However, the previous support at $3,550 is now acting as a strong resistance. If there is a break above $3,550, the price could face sellers near $3,600. It represents the 50% Fib retracement level of the recent decline from the $3,729 high to $3,470 low.

Looking at the chart, bitcoin price has moved into a bearish zone below $3,600. As long as sellers remain in control below $3,600 and $3,550, there is a risk of more losses below $3,500 and $3,400.
Technical indicators
Hourly MACD – The MACD for BTC/USD is slightly placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently recovering toward the 40 level, with a positive angle.
Major Support Level – $3,480
Major Resistance Level – $3,600
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Crypto Market Tumbles: EOS, Tron (TRX), Bitcoin Cash, ADA Price Analysis

The total crypto market cap made a sharp U-turn and declined below the $115.00 support.
EOS price is down around 5% and it broke the $2.45 and $2.40 support levels.
Bitcoin cash price is under pressure and it recently broke the $125 support level.
Tron (TRX) price failed to stay above the $0.0250 support and it could revisit $0.0220.
Cardano (ADA) price declined more than 6% below the $0.0450 support level.

Bitcoin and the whole crypto market fell sharply in the past few hours. BTC, Ethereum, ripple, EOS, BCH, ADA and altcoins are currently under a lot of selling pressure.
Bitcoin Cash Price Analysis
Bitcoin cash price failed to stay above the $130 support level and recently started a sharp decline against the US Dollar. BCH/USD declined below the $126 and $125 support levels to move into a bearish zone. The price is down around 5.5% and it may continue to move lower towards the $120 or $118 support levels.
If there is an upside correction, the previous supports near the $125 and $126 levels may now act as barriers for buyers in the near term.
EOS, Tron (TRX) and ADA Price Analysis
EOS price is down around 5% after it failed to gain pace above the $2.65 resistance. The price declined below the $2.50 and $2.40 support levels. The next key support is at $2.30 where buyers are likely to emerge.
Tron price trimmed most of its recent gains and declined below the $0.0260 and $0.0250 support levels. TRX price is down 3.5% and it seems like it may continue to decline towards the $0.0220 support.
Cardano price fell more than 6% after it broke the $0.0460 support. ADA price is now trading near the $0.0430 level, with an immediate support at $0.0420. The next major support is at $0.0412, followed by $0.0405.

Looking at the total cryptocurrency market cap hourly chart, there was a sharp downside reaction from well above the $122.00B level. The market cap dipped sharply below the $120.00B support and a major bullish trend line on the same chart. It opened the doors for more losses and the market cap reached the $112.00B support level. There may be a short term correction, but upsides in BTC, ETH, tron, litecoin, EOS, ripple, XLM, IOTA and other altcoins remain capped.
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Ripple Price Analysis: XRP Poised To Break $0.3000 Support

Ripple price is currently under pressure below the $0.3200 and $0.3180 support levels against the US dollar.
There is a crucial bearish trend line formed with resistance at $0.3185 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is likely to extend the current decline and it may even break the $0.3000 support area.

Ripple price declined sharply below key supports against the US Dollar and Bitcoin. XRP/USD remains at a risk of more losses below the $0.3050 and $0.3000 support levels.
Ripple Price Analysis
This past week, we saw a decent recovery above $0.3300 in ripple price against the US Dollar. However, the XRP/USD pair failed on many occasions to clear the $0.3380 and $0.3400 resistance levels. As a result, there was a bearish reaction and the price declined below the $0.3200 support level. The decline was such that the even broke the key $0.3180 support level and moved into a bearish zone. Finally, there was a close below the $0.3200 support level and the 100 hourly simple moving average.
A low was formed at $0.3102 and later the price started a short term upside correction. It recovered above the $0.3120 and $0.3130 levels. There was a break above the 23.6% Fib retracement level of the last decline from the $0.3352 high to $0.3102 low. However, the previous important support near $0.3180 is now acting as a strong barrier for buyers. Moreover, there is a crucial bearish trend line formed with resistance at $0.3185 on the hourly chart of the XRP/USD pair. Above the trend line, the 50% Fib retracement level of the last decline from the $0.3352 high to $0.3102 low is at $0.3227. Therefore, there are many hurdles formed near $0.3180, $0.3200 and $0.3220.

Looking at the chart, ripple price might continue to struggle near the $0.3200 resistance level. Therefore, there is a risk of more losses and it may even break the $0.3000 support area.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slightly placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level, with many bearish signs.
Major Support Level – $0.3100
Major Resistance Level – $0.3200
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Ethereum Price Analysis: ETH Sinks Below Key Support, Could Extend Losses

ETH price failed to gain strength and declined heavily below the $118 support against the US Dollar.
There is a major bearish trend line formed with resistance at $121 on the hourly chart of ETH/USD (data feed via Kraken).
The pair remains at a risk of more losses as long as it is trading below the $119 and $121 resistances.

Ethereum price declined heavily in the past few hours against the US Dollar and bitcoin. ETH/USD settled below $120 and it may continue to decline towards $110 or $106.
Ethereum Price Analysis
After a decent recovery, ETH price faced a strong selling interest above the $125 level against the US Dollar. The ETH/USD pair formed a top near the $126 level and later started a sharp decline. It broke the $122 support and the 100 hourly simple moving average. The decline was crucial since the price broke the $120 and $118 support levels to move into a bearish zone. Sellers even pushed the price below the $115 level and a new weekly low was formed near the $113 level.
Later, the price started consolidating losses above $113 and corrected a few points higher. It moved above the 23.6% Fib retracement level of the recent decline from the $124 high to $113 swing low. However, the previous support near the $118 level is acting as a strong resistance. Moreover, the 50% Fib retracement level of the recent decline from the $124 high to $113 swing low is positioned near $118. More importantly, there is a major bearish trend line formed with resistance at $121 on the hourly chart of ETH/USD.

Looking at the chart, ETH price clearly moved into a bearish zone below $120 and the 100 hourly simple moving average. As long as it is trading below $118 and $120, there is a risk of more losses. The next supports are at $110 and $106.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving in the bullish zone, but with a bearish bias.
Hourly RSI – The RSI for ETH/USD is currently recovering above the 25 level, with a positive angle.
Major Support Level – $113
Major Resistance Level – $121
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Bitcoin Price Weekly Analysis: BTC Could Accelerate Gains Above $3,850

Bitcoin price formed a solid support near the $3,560 level and moved higher against the US Dollar.
There is a crucial bearish trend line in place with resistance near $3,850 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move higher towards the $3,850 and $4,000 levels in the near term.

Bitcoin price is showing positive signs above the $3,600 support against the US Dollar. BTC/USD could accelerate gains once there is a break above $3,800 and $3,850.
Bitcoin Price Analysis
This past week, bitcoin price dived below the $3,560 support level against the US Dollar. However, the BTC/USD pair found a strong buying interest near the $3,480 and $3,500 support levels. As a result, there was a sharp bounce above the $3,560 level. The price climbed above the $3,600 and $3,640 resistance levels. Besides, there was a break above the 23.6% Fib retracement level of the last decline from the $4,111 high to $3,489 low. Later, there was a consolidation pattern formed above the $3,600 level.
Finally, there was a break above a contracting triangle with resistance at $3,635 on the 4-hours chart of the BTC/USD pair. The price tested the 100 simple moving average (4-hours) and the $3,800 resistance level. However, the price failed to stay above the 50% Fib retracement level of the last decline from the $4,111 high to $3,489 low. There was a fresh downside move below the $3,700 level and the price is currently trading in a range. On the upside, there are many hurdles, starting with $3,750 and ending with $3,850. Furthermore, there is a crucial bearish trend line in place with resistance near $3,850 on the same chart.

Looking at the chart, BTC price is clearly showing positive signs above the $3,600 support level. Having said that, a proper close above the $3,800 and $3,850 resistance levels is must for more gains.
Technical indicators
4-hours MACD – The MACD for BTC/USD is currently placed in the bullish zone, with positive signs.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 50 level.
Major Support Level – $3,560
Major Resistance Level – $3,850
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