Cardano (ADA) Sees A Rise In Interest After Mysterious Ledger Announcement

Cardano (ADA) has once again seen a sharp rise in trading activity in general and buying interest in particular after a mysterious announcement by Ledger regarding an upcoming app to the Ledger Nano S device. Details of the app are not yet known but Ledger said that it is one of the most requested apps which led many to conclude that Cardano (ADA) might be finally coming to Ledger. This is further strengthened by the fact that Charles Hoskinson, the founder of Cardano (ADA) recently posted pictures of his Cardano (ADA) Ledger devices. A lot of people commenting on Ledger’s post regarding the upcoming app also said it was going to be Cardano (ADA) which further indicates that this might have indeed been the most requested app.
If Cardano (ADA) ends up on Ledger, we might see ADA/BTC explode massively during the next bullish cycle. Cardano (ADA) has been around for a while but this would be the first time that investors will have a safe way of storing their ADA coins. It is no surprise that a coin with the potential of Cardano (ADA) has made a lot of progress even during the bear market. Popular cryptocurrency exchange Binance has ADA pairs and so do many other exchanges. Cardano (ADA) is making a lot of waves in the crypto community and has the support of a lot of followers and investors. It would appear that after Ripple (XRP), Cardano (ADA) has one of the most vocal communities that frequently talks about the project on Twitter.

Cardano (ADA) is one of the few cryptocurrencies that is currently trading above its 200 day moving average. If market conditions were different, we might have seen the price rise aggressively so far. However, the fact of the matter is that the long term outlook for Cardano (ADA) might be very promising but short term, the price is likely to decline further. Even the daily chart for ADA/USD indicates the possibility of further downside that could pull the price back into the symmetrical triangle that it escaped from last week.
RSI for ADA/USD indicates that there is room for further downside if the price fails to recover from current levels. The price has tested the previous trend line resistance as a new support but in the absence of bullish continuation this level is likely to fail. If Cardano (ADA) ends up on Ledger in the near future as we expect it to, we would most likely see a rise in buying activity in ADA/USD that would last throughout the next bullish cycle. On the other hand, if this announcement comes in sooner than expected in the days ahead, we should see it give Bitcoin (BTC) a helping hand to rise towards $4,500 in the days ahead. Both of these events are highly probable as we expect Cardano (ADA) to end up on Ledger as well as Bitcoin (BTC) to rise in the near future.
Source: Crypto Daily

Bitcoin (BTC) Revisits Critical Support, Decisive Moves Expected Ahead

Bitcoin (BTC) revisits a critical support and is now resting above the 38.2% Fib extension level which corresponds to a price of $3,955. If the price remains to hold above this level, we could see BTC/USD rise towards $4,200 or higher in the days ahead. This is expected to be the final move to the upside for Bitcoin (BTC) before the next major decline. Daily trading volume is still on the decline and the bulls do not seem interested to take charge just yet. However, a rise from current levels is going to be a quick one and the price is expected to form a few big candle bars to the upside before the weeks closes. It is quite unlikely for Bitcoin (BTC) to drop straight below the current support towards $3,400 without making a move to the upside first.
The rise in bullish momentum that we witnessed before the beginning of this month was lost to sideways movement for most of March. However, the price will now have to make a decisive move either way. The price is trading under overbought conditions on the weekly time frame and undersold conditions on the daily time frame. The most probable way this plays out is that the price will rise short term and then decline heavily long term. The probably of this long term decline is strengthened by a rise of buying interest in long term bonds and a loss of bullish interest in the S&P 500. Bitcoin (BTC) being part of a highly speculative market is expected to be worse off than equities if the situation does not change. We expect buying interest in long term bonds to continue to rise until the S&P 500 sees another decline. This means that Bitcoin (BTC) has not bottomed yet and will have to decline further in the weeks ahead.

The number of margined shorts has declined significantly but it is still not at a point for bears to turn more confident. The daily chart for BTCUSDShorts shows that the number of margined shorts is currently trading below the 38.2% Fib retracement level and could decline further in the days ahead. It is important to note that BTCUSDShorts is oversold on the weekly time frame which means the number of margined shorts is expected to rise over the next few weeks.
The sell pressure on BTC/USD has declined significantly in the past few weeks but the bulls are still not prepared to take control. Conditions have been ripe for a breakout since the beginning of the week but the bulls have yet to take advantage of that. The bears on the other hand seem to be completely baffled by the sideways movement of Bitcoin (BTC) at the moment. A sharp short term spike in the price of BTC/USD is likely to scare off most bears and the number of margined shorts would decline even further. This is when BTC/USD will finally top out short term and begin its next major decline.
Source: Crypto Daily

Ethereum (ETH) Consolidates Above 50 Day MA, Price Likely To Retest $163

Ethereum (ETH) is consolidating above the 50 day moving average as it struggles to break past the 38.2% fib extension level. This breakout would push ETH/USD towards the 200 day moving average with a wick to $163 for a retest of the previous resistance. We would expect ETH/USD to close below the 200 day moving average as trading conditions on longer time frames are still not favorable for a sustained breakout to the upside. We could see a day or two of rallies which would push Ethereum (ETH) towards the 200 day moving average but the price is extremely unlikely to rise past the 200 day MA. This is because the temporary relief that we see in the market is actually a precursor to the next major decline that is yet to come.
The bear market has seen more competitors challenge Ethereum (ETH)’s dominance. Cryptocurrencies like Cardano (ADA), Tron (TRX) and Zilliqa (ZIL) now threaten Ethereum (ETH)’s monopoly. Justin Sun, the CEO of Tron (TRX) recently said that he will build a monument in memory of Ethereum (ETH). Other industry leaders like Charles Hoskinson of Cardano (ADA) have also been a strong critic of Ethereum (ETH) and Vitalik Buterin. In other words, Ethereum (ETH) has had its time. We might still see the price rise to a new all-time high but the explosive growth that we saw during the last bull run may not be seen ever again as Ethereum (ETH) loses its monopoly to aggressive competitors. Ethereum browser, Mist has also recently shut down. Ethereum (ETH) was the first of its kind but it does not have to be the best long term and investors know that.

Institutional investors who are preparing to get into cryptocurrencies might still prefer to hold Ethereum (ETH) due to its ease of storage and high liquidity but retail traders who are in it for quick profits before they move to the next coin are more likely to back coins like Zilliqa (ZIL) and Qtum (QTUM) for higher gains compared to Ethereum (ETH). As the next bullish cycle begins, we will see projects like Cosmos gain traction to become what Zilliqa (ZIL) or Qtum (QTUM) have been at the peak of the previous hype cycle. In markets like these, investors are quick to move to the next big thing soon as they cash out.
The daily chart for ETH/BTC shows that Ethereum (ETH) recently saw a golden cross when the 50 day moving average crossed above the 200 day moving average. In a bull market, this would have translated into a major spike to the upside but as we can see nothing significant happened this time. That being said, the price has retraced to the bottom of the symmetrical triangle and is expected to shoot up as early as this week. The probability of a strong break out above the symmetrical triangle remains low as trading conditions on the weekly time frame signal further downside in the weeks ahead.
Source: Crypto Daily

Ripple (XRP) Is Days Away From Its Most Anticipated Breakout In Months

Ripple (XRP) is at an interesting point in time as the price is currently days away from a massive breakout against Bitcoin (BTC). The weekly chart for XRP/BTC shows how oversold Ripple (XRP) currently is against Bitcoin (BTC). The price is currently trading above the 50 day moving average but could soon break out of the symmetrical triangle to shoot to the upside. This breakout has the potential of being of the strongest breakout in Ripple (XRP)’s trading history. We do not know yet what the catalyst for this breakout might be but the charts tell us that something big is in the offing. Ripple (XRP) is currently down for the day and the bears might take it as a sign of weakness as XRP/BTC has closed the past three weeks in red.
The market has been hard on Ripple (XRP) since the beginning of the year. The cryptocurrency which is usually seen leading most rallies during bullish and bearish times has been the victim of bad news and negative developments for the last few months. Ever since the JPM Coin announcement, we have seen a loss of bullish momentum in XRP/BTC. This has been made worse by rising concerns regarding Ripple (XRP)’s legal status. Regulators are yet to term Ripple (XRP) a security or a non-security. No matter how they rule, this is going to have important consequences for Ripple (XRP). If Ripple (XRP) is classified as a non-security like Bitcoin (BTC) and Ethereum (ETH) as we expect, then the price could see a major boost and interest in Ripple (XRP) will rise significantly.

Ripple (XRP) has already broken out against the US Dollar (USD) but it continues to trade below the 50 day moving average and does not show any signs of a bullish comeback. However, the trading conditions are now oversold on the daily time frame which means we could see a rise in bullish momentum in the near future. XRP/USD has been consolidating along the 50 day MA for the past few weeks which means it could shoot up towards the 200 day moving average any time now. If the price ends up rallying past the 200 day MA, we could see a golden cross form which would be even more bullish for Ripple (XRP) and could see the price rise more than 100% from current levels.
Before the beginning of this year, interest in Ripple (XRP) was on a steady rise. There were news of partnerships and adoption by big banks and financial institutions. Investors and analysts were talking about how Ripple (XRP) had a better chance at mainstream adoption compared to Bitcoin (BTC). However, all of that soon faded away under the weight of a few negative developments. Santander just recently apologized on Twitter for saying earlier that one of their services uses XRP. They apologized and clarified that the service uses only xCurrent and not XRP (xRapid). The sentiment regarding Ripple (XRP) is extremely pessimistic at the moment which means that it is high time we see a trend reversal especially as the price is on the verge of its biggest breakout in months.
Source: Crypto Daily

Rising Interest In Long Term Treasury Bonds Means Bad Days For Bitcoin (BTC)

Bitcoin (BTC) is at risk of further decline as fears of a recession loom over. The bond market has historically been a very good indicator of an upcoming crisis. Whenever, the yield curve goes negative, it is a cause for alarm as investors become more cautious about short term bonds and get more interested in long term bonds. We have just seen a negative yield curve for the first time since the last financial crisis. This does not look good for the stock market in general and the cryptocurrency market in particular. The reason Bitcoin (BTC) and the cryptocurrency market is at a bigger risk is because it is an even more speculative and risky market compared to the stock market or short term treasury bonds.
The monthly chart for 20+ Year Treasury Bond (TLT) shows that the price has just climbed above the 50 month moving average. If it closes the month above the 50 month MA, this might be the final nail in the coffin for highly speculative markets and we could expect Bitcoin (BTC) to decline significantly in the weeks and months ahead. This is because every time a recession nears, investors get more interested in longer term treasury bonds compared to short term treasury bonds. In such circumstances, short term bonds have a higher yield but lower price whereas long term bonds have a lower yield but higher price. If investors opt for a lower yield at a higher price long term, it is a strong indicator that something is not right at the moment.

Needless to say, something is not right at the moment because the stock market has been on a wild bullish spree since the last financial crisis. However, this does not mean that everything is going to start crashing down in the weeks or months ahead. In fact, it means that something is going to happen in the next year or two. Now, there are a lot of people who believe Bitcoin (BTC) is going to do very well in times of a recession but we do not know that yet until we see it happen. Even safe haven assets like Gold see significant downside during a financial crisis before they rise in value or do well. Bitcoin (BTC) might perform like Gold during the next crisis which means it will first have to fall hard as the crisis kicks in.
The daily chart for BTC/USD shows that Bitcoin (BTC) might rally in the days ahead as the price has been consolidating above the 21 day exponential moving average. A strong move to the upside could push BTC/USD towards its 200 day moving average before the correction kicks in. This would most likely coincide with a 20+ Year Treasury Bond (TLT) close above the 50 day moving average which will serve as strong catalyst for the next decline in the S&P 500 as well as Bitcoin (BTC) in the weeks and months ahead.  
Source: Crypto Daily

Ripple (XRP) Sees A Rise In Sell Pressure Just Before A Long Anticipated Breakout

Ripple (XRP) has seen a sudden rise in sell pressure as the price keeps stalling a breakout to the upside. This has encouraged the bears to step up and take control. The daily chart for XRPUSDShorts shows that the number of margined shorts is up more than 2% for the day and is expected to rise before the weekly close. This shows that the bears are prepared to capitalize on any weakness in the market as the bulls clearly lack the will to push higher from current levels. Ripple (XRP) has suffered the most the past few months compared to other cryptocurrencies. It is now extremely oversold against Bitcoin (BTC) on larger time frames but the price has yet to show any signs of a bullish comeback.
On the other hand, the number of margined shorts has declined significantly the past few months. It is very likely that XRPUSDShorts might bottom out as early as next week which would set the ground for another correction to the downside that could see XRP/USD finally find its true bottom. Ripple (XRP) does not have significant room for further decline against Bitcoin (BTC) but it might still see some moves to the downside against the US Dollar (USD). That being said, it remains in a better position compared to most other cryptocurrencies to capitalize on a final move up before that correction sets in. It seems as Ripple (XRP)’s fate in the near future hinges on clarification regarding its legal status. We could see important development in this regard any time now. Given Ripple’s legal history, it is likely that they will get a favorable ruling because the team behind Ripple comprises of some of the most persistent and hardworking people in the industry.

The daily chart for XRP/USD shows that Ripple (XRP) has broken above a critical trend line resistance but the price has still not rallied as the bulls expected it to. The price has been dragging along the 50 day moving average for weeks without any signs of a bullish comeback. This time the daily trading conditions are ripe for a strong move to the upside which could see Ripple (XRP) rise towards its 200 day moving average. The price is expected to face some resistance at the 200 Day MA but a near term rally seems inevitable at this point.
We might see some favorable developments or rulings short term that might serve as catalysts for a strong move to the upside but let us not forget that overall market conditions on the weekly time frame signal another move to the downside. The declining number of margined shorts points to the same conclusion. While the rest of the market is expected to decline heavily against Bitcoin (BTC) after a short term rally to the upside, Ripple (XRP) on the other hand is already oversold against Bitcoin (BTC) and is expected to hold its ground during the next major decline.  
Source: Crypto Daily

Bitcoin (BTC) Likely To Retrace To 21 Day EMA Before Rally Towards $4,500

Bitcoin (BTC) is trading just below $4,000 and eyes a retest of the trend line resistance. Overbought conditions on the daily time frame have once again become favorable for a rally to the upside. However, the price is extremely unlikely to break out of the symmetrical triangle this week. The daily chart for BTC/USD shows that we might see a retest of the 21 day exponential moving average before the weekly close. The price could fall further to retest the 38.2% Fib level but it is still expected to be in a position for a quick rally towards $4,500 before the long anticipated final decline sets in. It is important to note that a break above the symmetrical triangle would mislead a lot of investors into thinking the bear trend is over. However, we have yet to see some confirmations on larger time frames before we can conclude that.
The price has been forming higher highs and higher lows in the past few weeks but as long as Bitcoin (BTC) remains below the previous market structure around $6,000 the risk of a fall to lower levels continues to loom over. Considering that the weekly trading conditions are overbought and unfavorable for Bitcoin (BTC) in the near future, we do not believe that Bitcoin (BTC) has already bottomed. In fact, we believe BTC/USD has yet to find its bottom between $1,000 and $3,000. One thing we have observed in this market is that everything is in very early stages so whenever investors make moves, they leave traces that are relatively easy to spot. This is because a small group of people still control most of what happens in this market and they do not change their methods too often. 

If we look at the daily chart for BTCUSDShorts, we can see that the rise and fall in the number of margined shorts has had a strong impact on the price of Bitcoin (BTC). Whenever the numbers of margined shorts peaks out, we see Bitcoin (BTC) rise and whenever the number of margined shorts bottoms out, we see Bitcoin (BTC) fall in the days that follow. If we combine that with trading conditions and indicators on BTC/USD, we can get some very meaningful insights regarding Bitcoin (BTC)’s future price action. BTCUSDShorts closed below the 38.2% fib retracement level yesterday and confirmed a bearish continuation.
There is little doubt regarding Bitcoin (BTC)’s next course of action as everything falls into place. The number of margined shorts is expected to decline next week which means the price of Bitcoin (BTC) will rise during that time to rally towards $4,500. When the number of margined shorts bottoms out and reaches the bottom of the descending channel, we can expect BTC/USD to begin its final decline. It is important to note that BTCUSDShorts is currently oversold on both the daily as well as the weekly time and it is only a matter of time before the bears assume control again to pull Bitcoin (BTC) towards its true bottom.   
Source: Crypto Daily

Ethereum Classic (ETC) Breaks Critical Resistance, Price Continues To Rally

Ethereum Classic (ETC) has broken past a critical trend line resistance and is now rising on bad news. That’s right, bad news! The cryptocurrency seems to be completely unaffected by the departure of a high profile developer, Anthony Lusardi of ETC Cooperative. We at Crypto Daily have interviewed Anthony Lusardi in the past. He has been very keen to see the project succeed. However, he recently announced his departure due to “burnout and social media FUD”. The price has reacted in a completely strange way as if the departure had a positive impact on the future of the Ethereum Classic blockchain. One explanation for this is that the community is trying to show its support by holding on to its coins as a key Ethereum Classic figure quits. However, we cannot say for sure what the cause of the recent spike in ETC/USD might be despite the negative news.
Looking at the daily chart for ETC/USD, we can see that the price has clearly broken past a critical resistance and now does not face any real obstacle in its rally towards the 200 day moving average. The daily trading conditions are close to the overbought territory but that does not mean the price cannot surge further. In fact, we expect ETC/USD to continue to rally next week until the price runs into the 200 day moving average. After that, we expect the price to decline swiftly towards its ultimate bottom. This year has been a terrible year for Ethereum Classic (ETC) as we have seen a lot of key figures leave the blockchain. It does raise concerns regarding the future of the blockchain if a few more key developers were to quit.

Chart for ETC/BTC (1W)
We have seen the Digital Finance Group (DFG) cozy up to Ethereum Classic (ETC) in the recent months but it is yet to be seen whether they have what it takes to keep this project alive, let alone take it to the next level. If such high profile figures keep on leaving the blockchain on reasons like “social media FUD” and “burnout”, investors might have every reason to second guess whether the people working on this project are actually serious about the future of this blockchain. A good team stays with the project through thick and thin, through good times and bad times. This is why we have seen projects like Golem (GNT) achieve so much even during the bear market.
Ethereum Classic (ETC) is in every way a larger project than Golem (GNT) and to see some of the people working on it leave for such reasons is alarming. The reason it is alarming is because as investors one might have to dig deeper to see what exactly behind “social media FUD” and “burnout” is there that has brought on this onslaught of departures in such a short time. While we do expect Ethereum Classic (ETC) to continue to rally for now, we do believe that investors might have some serious doubts regarding the future of this project during the next bull run. If things remain unchanged, we might once again see Ethereum Classic (ETC) miss out on most of the gains that its fellow altcoins make during the next bullish cycle.
Source: Crypto Daily

Ripple (XRP) Remains Heavily Oversold Against Bitcoin (BTC)

Ripple (XRP) remains heavily oversold against Bitcoin (BTC) but there does not seem to be adequate hope of a trend reversal. The weekly chart for XRP/BTC shows the current weekly candle stuck between the 50 week moving average and the 61.8% fib extension level. If the price fails to break above this level by the end of the week, we could expect it to fall below the 50 week moving average as early as next week. This decline could pull the price all the way to the 127.2% fib extension level in the weeks ahead from where the price would be in a good position to find its bottom against Bitcoin (BTC) if it hasn’t already. Ripple (XRP)’s case is quite different than most other cryptocurrencies which is why we assume that Ripple (XRP) has already bottomed against Bitcoin (BTC).
The trading conditions for XRP/BTC as shown by the weekly chart are extremely oversold and the price has been long overdue for a trend reversal. The same cannot be said of most other cryptocurrencies in comparison to Bitcoin (BTC). This is why we also believe that Ripple (XRP) is a good hedge not just against Bitcoin (BTC) but the rest of the cryptocurrency market that dances to the tune of Bitcoin (BTC). If Bitcoin (BTC) starts to fall, we believe Ripple (XRP) will hold its ground because it is already heavily oversold against Bitcoin (BTC). On the other hand, if the market starts to recover, we would expect it to rally harder to capitalize on that long overdue trend reversal. The past few weeks have been relatively negative for Ripple (XRP) because a lot of its competitors seem to be more actively challenging its monopoly now more than ever. This has got a lot of Ripple (XRP) investors concerned about the future of Ripple (XRP).

Ripple (XRP) has been and continues to be one of the best cryptocurrencies to trade but from an investment point of view, those that have been buying XRP/USD from as high as $3 have suffered major losses so far. This does not mean that the price will not recover to reach a new all-time high again but it means that Ripple (XRP) is not such a promising cryptocurrency yet that people will hold on to no matter what. In other words, we do not see stocks decline in this manner (except for penny stocks) because they intrinsic value that makes them valuable.
Ripple (XRP) like many other cryptocurrencies is still in experimental stages for the most part. We are in very early days in this market and most cryptocurrencies are nothing more than speculative tokens for different experiments. As time goes by and the market matures, maybe we will see less of these pumps and dumps but for now, even if the price of Ripple (XRP) is heavily oversold against Bitcoin (BTC), it can always decline a lot more in the weeks ahead before it bottoms out and begins a trend reversal.
Source: Crypto Daily

Ethereum (ETH) Holds Ground Above 21 Day EMA, Price Expected To Rally Ahead

Ethereum (ETH) holds strong above the 21 day exponential moving average for now but the price could be at risk of significant downside if it slips below this level. The daily chart for ETH/USD shows that the price is currently sandwiched between the 21 day exponential moving average which serves as a strong support and the 38.2% fib retracement level which serves as strong resistance. This resistance has been tested for the past few weeks but ETH/USD has failed to break above it. This time, the 21 day EMA has been instrumental in giving the price a support base to strike back at this level. If ETH/USD fails to break past this resistance once again, we could expect Ethereum (ETH) to slide below the 21 day EMA to eventually find support atop the 50 day moving average and then gradually test the 61.8% fib retracement level as support.
The daily chart for ETH/USD shows that the price is overbought short term and therefore, there is not much room for a strong move to the upside. The best case scenario for the bulls would be to see the price test the 200 day moving average but we expect it to meet heavy resistance there. On the other hand, if the price were to slide below the 50 day moving average in case of a decline, we expect it to fall below $90 and settle around $84 before any potential declines. Ethereum (ETH) is a very promising blockchain project with a lot of future potential but like the rest of the market, it remains at risk of further sell off in the weeks ahead. The overbought conditions seen on the weekly time frame for ETH/USD have not been seen even when the price topped out around December, 2017.

Ethereum (ETH) formed a golden cross trading against Bitcoin (BTC). The daily chart for ETH/BTC shows that the price formed a golden cross just before the beginning of this month when the 50 day moving average crossed above the 200 day moving average. However, as we can see that did little good to the price and we did not see anything significant. Under normal circumstance, a golden cross is very bullish for the price and if this had happened during a bull market we would have expected the price to fly. However, the fact that it did not do so indicates that there might be further downside to come.
Ethereum (ETH) has been trading in a symmetrical triangle against Bitcoin (BTC) for the past few months but it is close to reaching the extreme end of this triangle. This means that the price will have to break out to either side by the end of April, 2019. We expect this break to the downside because Ethereum (ETH) has yet to find its true bottom. This decline will most likely be unlike anything we have seen before and the price would crash hard in a matter of just a few hours. It will be followed by further downside for a few weeks till the price finds a bottom and trading conditions revert to mean.
Source: Crypto Daily

Bitcoin (BTC) Traders Concerned As Volatility Continues To Decline

Bitcoin (BTC) volatility has once again got traders concerned as the price has been relatively stable over the past few weeks with no clear direction. The sell pressure on BTC/USD has yet to subside as a large number of bears still believe the price to fall in the days ahead. However, for traders a decline in volatility means less trading opportunities. If the price trades in a tight range for a long time, there is not much to do. Similarly, investors are concerned that the price could rise or drop sharply without giving them enough time to prepare for such events. As we have seen in the last few weeks, the number of margined shorts has piled up but the price does not seem to be ready for a move to the downside. In fact, if BTC/USD rises towards the 38.2% fib retracement level, things could get bad for the bears in no time.
The probability of a move towards the 38.2% fib retracement level is very high because the 21 Week EMA is a level where the price can be expected to face a strong rejection for a steady decline. If the price rises towards the 38.2% fib level and then faces rejection to close below the 21 Week EMA, we will have a strong confirmation that the price has topped out for now and is ready for a strong decline in the weeks ahead. However, for the bears that already have high leverage margin positions opened, this move towards $4,500 has a strong probability of wiping them out. As their positions are liquidated, we will see a rise in the price of Bitcoin (BTC). The Bitcoin Historical Volatility Index (BVOL) is also falling which means moves to either side would be quick and unexpected for the most part.

The daily chart for Bitcoin Historical Volatility Index (BVOL) shows that the index has fallen below the 50 day moving average which is a strong indicator of its future direction. If it closes below the 50 day moving average as we expect it to, we will have strong confirmation of a sharp decline in volatility. This decline in volatility will make a lot of traders concerned and we will see a subsequent decline in the number of margin positions on exchanges like Bitmex and Bitfinex. 
The volatility of Bitcoin (BTC) has yet to drop to an all-time low. So far, we have not seen this happen. This is why we expect the volatility to drop in the weeks ahead to reach its all-time low around April, 2019 during which time we expect BTC/USD to reach its true bottom. Bitcoin (BTC) is down more than 80% from its all-time high but that does not mean things could not get worse. Bitcoin (BTC) is still overbought on the weekly time frame and we expect the price to decline sharply after a few short lived rallies to the upside in the days and weeks ahead.
Source: Crypto Daily

Bitcoin (BTC): When To Expect The Next Big Crash

Bitcoin (BTC) bears are eagerly waiting of the price to fall again but the daily chart for BTCUSDShorts is telling us a different story. Even though BTC/USD is overbought on the daily and weekly time frames, it does not mean that the price cannot rise further especially when the number of margined shorts is this high. BTCUSDShorts has been rising steadily over the past few weeks as a growing number of bears expect the price to fall sometime soon. However, most of them are going to be in for a big surprise when the price does the exact opposite of what the majority expects it to do. This is not something new and it has happened over and over again. However, most traders are too biased and too impatient to realize this.
The daily chart for BTCUSDShorts alone shows us exactly what is going on and how it is going to end. We do not need to look at the BTC/USD chart or any volatility or market cap charts to figure out what is going to happen next. The majority is always wrong which is why it always loses money. Only a small fraction of disciplined and patient traders that do not have any concern for emotions, make consistent profits in this market. The number of margined shorts has topped out which means they are going to decline in the days ahead. Now, BTCUSDShorts is not going to decline because the bears will realize that they have overplayed their hands so they will start closing their positions. No, this is not how it works most of the time. Bitcoin (BTC) bears are known to be stubborn traders so most of the time they have to be knocked out of their positions.

The majority of the margined shorts that we see on the daily chart for BTCUSDShorts were opened last week. This goes on to show how impatient the majority of retail traders are. Considering that most of them opened their shorts last week, they are now anxiously waiting for the price to decline. Now, if the whales are looking at this chart for BTCUSDShorts which I assure you, they are, they are thinking only one thing and that is how to topple this house of cards. The easy way to do that is to pump the price slightly to the upside which would hit some overly aggressive margined shorts that will translate in a subsequent move to the upside which will scare some more bears which will in turn trigger some panic selling and the whole thing would collapse in no time.
If we look at the daily chart for BTC/USD and compare it to the daily chart for BTCUSDShorts to analyze the relationship between the two, we can see that every single time that BTCUSDShorts has topped out, we have seen a strong rally in BTC/USD in the days ahead when the number of shorts starts to decline. There is no reason to believe the same is not going to happen this time because markets are moved by simple supply and demand no matter how much we overcomplicate things. The price of Bitcoin (BTC) is clearly overbought short term but that does not mean that it has topped out. As we can see, the price is very likely to shoot up towards the 38.2% Fib retracement level to complete the bear flag. This move will most likely be a quick one and it will be paid for by the bears.
Source: Crypto Daily

Stellar (XLM) Remains Strong, Eyes Further Gains Before The Next Decline

Stellar (XLM) is holding strong above the 61.8% Fib retracement level. This level used that used to be a resistance has now turned into a strong support. The 4H chart for XLM/USD shows that the price has enough room to rally from here in the days ahead. Stellar (XLM) has seen the momentum shift in its favor after the recent Coinbase listing. It was well deserved for a cryptocurrency like Stellar (XLM) which is in many ways a superior technology to Ripple (XRP), the third largest coin by market cap. Stellar (XLM)’s alliance with IBM has enabled it to gain a lot of traction recently. The cryptocurrency is already making waves in the financial industry with its state of the art blockchain and low cost, speedy transactions. Stellar (XLM) has a higher probability of being more readily accepted by the crypto community compared to Ripple (XRP) as the former focuses on empowering the masses whereas the latter focuses on empowering the banks.
The entire cryptocurrency movement is about cutting dependence on the financial system that has enslaved generations after generations. If we can reduce reliance on post with email, why can’t we do the same with money? Bitcoin (BTC) transactions may not be cheaper and faster but then again Bitcoin (BTC) was not created for that purpose. The purpose of Bitcoin (BTC) was to cut the double spending problem and to produce a form of money that is immune to inflation. When people realized that blockchain technology can be used for a lot more, they came up with cryptocurrencies like Ripple (XRP) and Stellar (XLM). Jed McCaleb, the CEO of Stellar (XLM) was the CTO of Ripple before he created Stellar. So, Stellar (XLM) and Ripple (XRP) are direct competitors as both are fighting for the same thing but in different ways.

It is clear that Bitcoin Cash (BCH) and Litecoin (LTC) are better choices for online spending compared to Bitcoin (BTC). This is why most people pay with these cryptocurrencies instead of Bitcoin (BTC) to save on transaction fees and time. However, Ripple (XRP) and Stellar (XLM) are certainly a lot better than Bitcoin Cash (BCH) and Litecoin (LTC) in this regard. A lot of merchants that accept Bitcoin Cash (BCH) and Litecoin (LTC) might not have any problem accepting Stellar (XLM) even though they may have some problem with accepting Ripple (XRP) as it is seen as a bank coin or a centralized coin by a large number of people in this industry.
The daily chart for XLM/BTC shows that Stellar (XLM) still has to break past the 38.2% Fib retracement level if it is to rally further. The probability of a golden cross remains low as XLM/BTC does not seem likely to break above the 200 day moving average. That being said, it might continue to trade sideways for a while as the rest of the market catches up to it before the next decline sets in.
Source: Crypto Daily

Ethereum Classic (ETC) Runs Into Trend Line Resistance, Sharp Decline Expected

Ethereum Classic (ETC) is once again on the verge of a sharp decline as the price has run into a major trend line resistance and already faced a strong rejection. This means that ETC/USD can be expected to decline to the 50 day moving average in the days ahead. The Stochastic RSI favors a move to the downside as well. We have seen ETC/USD perform better compared to most altcoins during the past few weeks. The price has still not tested the 38.2% Fib extension level for the second time but it is likely to decline without doing that. For now, the price is expected to continue to trade within the symmetrical triangle that it has been trading in since December, 2018. The probability of a strong move to the upside remains low as the price has topped out on both the daily and weekly time frames.
From a fundamental analysis standpoint, Ethereum Classic (ETC) has seen a lot of improvement and is certainly a better investment now given its risk/reward compared to the last time it was trading around the same time. Since then, Ethereum Classic (ETC) has seen a lot of developments some of which will have long lasting effects on the future of this blockchain. At the top of the list of those developments is the shutting down of ETCDev, the primary development team that can be credited with making Ethereum Classic (ETC) what it is today. If it weren’t for ETCDev, we would have seen the project fall apart after the Ethereum (ETH) hard fork. So, the fact that ETCDev will not be onboard during future developments will leave a strong impact on the blockchain for better or worse. So far, the change seems to be for the best as the new regime under ETC Labs seems more focused on getting things done.

The long term prospects of Ethereum Classic (ETC) also seem to have improved with ETC Labs pushing hard for Dapp development on the ETC blockchain. However, there are still some threats looming over that need to be taken into account. Talking about the fundamentals first, we do not know yet whether ETC Labs will be able to handle the technical side of things as well as ETC Dev. Let’s face it we never saw a 51% attack happen the entire time ETC Dev was operational. Soon after they leave, we see a 51% attack that severely damaged the reputation of the Ethereum Classic blockchain.
From an investment standpoint, Ethereum Classic (ETC) is at a very favorable point as the price is down almost 90% from its all-time high. Certainly, it cannot fall 100% but will have to fall a few more percentage points if it does fall further. So, this is a good time as any to be buying Ethereum Classic (ETC). The weekly chart for ETCUSDShorts shows that the number of margined shorts has decline significantly and can be expected to rise in the weeks ahead. This means that even though the price of Ethereum Classic (ETC) is already down 90% from its ATH, it is still likely to drop further but again, this is the time to be buying not selling.
Source: Crypto Daily

Litecoin (LTC) Unlikely To Break Past $65 As Price Runs Into Trend Line Resistance

Litecoin (LTC) has been on a roll for the past few weeks and it has now broken past the 61.8% Fibonacci retracement level and is eyeing the 1.272% Fib level to finish this rally. We saw LTC/USD run into the top of the ascending channel soon after it broke past the 61.8% Fib level but it did not decline sharply. Instead, the price started to rise again after a minor pullback and ran into the trend line resistance once again. The price is expected to do the same once more after a small retracement short term. This next rally would most likely result in a test of the 1.272% Fib level at the top of the ascending channel. That is expected to be the final move to the upside before the next major decline sets in.
The halvening FOMO had a big impact on the price of Litecoin (LTC) and we saw the price rise aggressively when the mainstream media started talking about Litecoin (LTC)’s next halvening in August, 2019. We are still a long way from August but considering that Litecoin (LTC) is not a big enough cryptocurrency to be a bought on OTC markets, most of the buying and selling is done on exchanges and when some traders started to see the whales accumulating large amounts of Litecoin (LTC) they followed. This led to the herd following both the whales and the professional traders and the price of Litecoin (LTC) shot up until it topped out on most time frames. Please note that whenever the whales want something so bad, they want to create a negative experience.

Chart for LTC/BTC (1W)
The way this works is that you prop up the price of an asset prior to an expected development and then you crush its price well before that development (halvening). They have been doing it with stocks, commodities and a plethora of other financial assets for years. Let’s say a company had good earnings and Wall Street wants the stock really bad. So, they crush the price so the retail investor would feel bad about the price going down on positive news. We saw the same happen with Ripple (XRP) when the price kept declining sharply during its Swell Conference in 2017. A lot of people took this as a sign of weakness but the professionals knew what was going on so they bought the dips. In the weeks after, Ripple (XRP) rose to a new all-time high.
Litecoin (LTC) is having a good run now but when the market starts to decline, a lot of people are going to give up and Litecoin (LTC) is most likely going to get crushed one of the hardest because it has already rallied so aggressively. This will once again result in a lot of people giving up on Litecoin (LTC) but the smart money as always will know when to buy for long term. Litecoin (LTC) is down more than 83% from its all-time high and we expect it to go down further. However, let us not forget that the price cannot just decline 100%. No matter where the bottom is, there is no doubt that it is very close. So, if anything this is the time to be accumulating, not selling.
Source: Crypto Daily