Contrarian Bitcoin Upsets Bearish Investors, But Massive Head and Shoulders Still in Play

In the early hours of the morning, Bitcoin exploded upward to $8,000 from a double-bottom local low set over the weekend around $7,500. The rally upset overly bearish crypto investors and traders who had been expecting further downside in the price of the first ever cryptocurrency.
The brief, yet powerful green candle may have shocked bears, an ominous and massive head and shoulders has been forming on the price charts of Bitcoin and other leading crypto assets, suggesting that the bears may soon have their party, and the crypto market may see a sharp drop lower if the formation is completed and confirms.
Bears in Disbelief: Bitcoin Rallies From Local Low in Surprise Move
Oftentimes, the best move for investors is to take a contrarian stance from the rest of the market. Much like calls for million-dollar BTC were signals the last bull market top was in, calls for sub-$1,000 Bitcoin was equally exuberant.
Related Reading | Peter Brandt Bearish After Bitcoin Breaks Bullish Trend, Expects Further Reversal 
But it’s when the majority of the market is expecting it to trend in a specific direction, more often than not the market moves in the opposite direction.

when bears get cocky and my feed is 80% filled with 6k calls things like this happen.$btc pic.twitter.com/l8UiVc4MID
— BenjaminBlunts (@SmartContracter) June 10, 2019

After over 100% growth in just two months and a broken parabolic rally, the entire crypto market is anticipating a significant drop in Bitcoin – with many calling for targets of $6,000 and lower.

Nice 6% pump by $BTC
Sentiment was a little too bearish after that weekly close
Even I expected further downside
Range remains the same and would like to see a daily close above $8200 pic.twitter.com/z4HONOT4HJ
— Josh Rager (@Josh_Rager) June 10, 2019

The overly bearish expectations come after last night’s weekly candle close, which many claim is a bearish reversal signal painted on weekly price charts. 

The calls for $6,000 were quite preemptive as Bitcoin hasn’t yet broken below $7,400. In fact, a poll posted just moments before the sudden surge heavily skewed toward $7,200 over $8,000 as Bitcoin’s next target. The votes have since evened out as the poll is still live, and not even an hour after the poll was posted, Bitcoin had already touched $8,000.
Staring in the Eyes of Massive Crypto Market Head and Shoulders Formation
Bitcoin bulls may have bested the bears once again, if a massive head and shoulders that is forming on the price charts of Bitcoin and other major cryptocurrencies plays out, bears will soon be having a parade at the expensive of the bulls.

So NOW we gettin a head and shoulders…. pic.twitter.com/G9DkWxNHG7
— dave the wave (@davthewave) June 10, 2019

The powerful bearish reversal pattern began at the start of May when Bitcoin breached resistance at $6,000. A quick rise to around $8,200 happened, before the leading crypto by market flashed crashed forming the left shoulder.

pic.twitter.com/ahm0XixgcO
— Peter Brandt (@PeterLBrandt) June 9, 2019

The surprisingly resilient crypto asset, then bounced back to over $9,100 before a violent rejection put the entire two-month rally in jeopardy.

$BTC Daily Chart.
Heading, no pun intended, into the right shoulder of the Head and Shoulders pattern should happen soon. After that, all bets are off. Could still take a week or so to develop. Expecting choppy higher prices this week. Proceed with caution.#BTC pic.twitter.com/9Z7lZoRhtP
— CryptoFibonacci (@CryptoFib) June 10, 2019

After falling to local lows below $7,500, Bitcoin has now revisited above $8,000 twice, signaling that the bulls are still putting up a fight – however, a break above $8,200 is required for the enormous reversal pattern to be invalidated.
Featured image from Shutterstock
The post Contrarian Bitcoin Upsets Bearish Investors, But Massive Head and Shoulders Still in Play appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin [BTC] set to fail in its fundamental quest for financial equality?

As crypto makes its glamorous entry into the mainstream, the traditional market is forced to compare each aspect of cryptocurrencies to its fiat counterpart. Interestingly enough, Tamas Blummer, a prominent technologist and Bitcoin software developer in the space, uncovered information that questions crypto’s ultimate goal to provide an equal market for its users. Considering the totality of the ecosystem, Blummer utilized Gini coefficient to measure unequal distribution of wealth among Bitcoin [BTC] holders, sharing his findings in a recent blog post.
Blummer identified that the biggest heaps of Bitcoins are likely in hot, cold wallets of exchanges that represent the wealth of many users. As a result, he focused only on the most common forms of blockchain transactions, with two outputs. Following the collection of test data, the entrepreneur assumed each BTC transaction to be proportional to one’s wealth. He explained this move as,
“The distribution of these transaction’s aggregate input values therefore leads to an underestimation of the Gini coefficient of Bitcoin wealth.”
Based on the data collected from the past 1 million transactions, Blummer made use of a moving window of 1 million transactions to calculate the following Gini coefficients,
Gini coefficient of last 1 million Bitcoin payments and aggregations
To his surprise, the calculated Gini coefficients showed serious inequality in terms of wealth distribution within the Bitcoin ecosystem. The graph also suggested that all the countries in the world, irrespective of their financial conditions, fare better than the cryptoverse with respect to the fair distribution of wealth.
While the author chose not to discuss the implications or desired/expected levels of inequality, he claimed his research to be an attempt to deliver a fresh outlook on the ecosystem. Additionally, the findings question the foundational goal of cryptocurrency, and how it will enable a financially equal future.
The post Bitcoin [BTC] set to fail in its fundamental quest for financial equality? appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils

Bitcoin rallied past $8,000 last week and showed good resilience in maintaining its bullish momentum. Bitcoin was priced at $7,915.81 with a market cap of $140.18 billion and registered $23.46 billion in 24-hour trading volume.
Litecoin stood fifth in the list of top-10 cryptocurrencies with a market cap of $5.71 billion and $3.98 billion in 24-hour trading volume. The coin was priced at $92.46, at press time.
1-Day BTC
Source: TradingView
The one-day BTC chart showed that there was an uptrend from $4,008.79 to $8,195.17. The chart specified that the resistance lines stood at $7,307.15, $6,444.50 and $5,505.74 and there were two support lines at $3,755.01 and $3,171.51.
Moving Average Convergence Divergence [MACD] indicator pointed at a bullish crossover.
Parabolic SAR indicator displayed a bullish trend as the dotted markers were below the candles.
Relative Strength Indicator indicated a bullish trend as the market was in the overbought zone. However, a correction seemed to be in the offing.
1-Day LTC
Source: TradingView
The one-day chart of LTC showed two uptrends. The first was from $42.23 to $91.40 and the second was from $91.40 to $102.85. The resistance line stood at $102.52 and the supports were present at $60.58 and $32.06.
Bollinger Bands exhibited a high rate of volatility in the market.
The Awesome Oscillator indicated a bullish buying opportunity in the LTC market as the short-term momentum was greater than the long-term momentum.
Chaikin Money Flow chart was below the zero-line, indicating that money flowing out of the market.
Conclusion
Bitcoin and Litecoin seemed to be in a bullish market as forecast by the indicators.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins find respite from the bear

Bitcoin has been the world’s premier cryptocurrency since its inception. However, in light of Litecoin’s upcoming halving [August 06, 2019], many people in the community are speculating that Litecoin might lead the bull rally.
Additionally, many believe that Litecoin already hit its bottom and is on a bull run since it surged by ~170% since 13 December, 2018.
Bitcoin 1-day chart
Bitcoin’s price, at press time, was $4,026, with the market cap at $71 billion. The 24-hour trading volume for Bitcoin was at $9.97 billion, slightly less than $10 billion.
Source: TradingView
Support 1: $3,189
Support 2: $3,860
Support 3: $3,681
Resistance 1: $4,111
Resistance 2: $6,094
Resistance 3: $6,648
The Aroon indicator showed a collapsing downtrend and an uptrend, indicating sideways movement for Bitcoin in the daily timeframe.
The Stochastic RSI had touched the oversold zone, which indicated a possible bullish buying opportunity.
The Chaikin Money Flow suggested that money was flowing into the Bitcoin markets.
Litecoin 1 day chart
At press time, Litecoin’s price was $62.80 and the market cap was $3.75 billion. The 24-hour trading volume for Litecoin was a few million short of $2 billion.
Source: TradingView
Support 1: $23.35
Support 2: $39.65
Support 3: $52.04
Resistance 1: $62.80
Resistance 2: $88.56
Resistance 3: $101.60
The Aroon indicator for Litecoin showed the same movement as Bitcoin, with both the uptrend and downtrend collapsing.
The Stochastic RSI dipped into the oversold zone, with a bullish crossover underway.
The Chaikin Money Flow indicated that there was plenty of money flowing into Litecoin markets.
Conclusion
The price of Bitcoin suggested consolidation, something indicated by the Aroon indicator. However, the Stochastic RSI and CMF indicated a bullish phase for Bitcoin. Litecoin’s price movement showed a similar scenario as Bitcoin, with the CMF and the Stochastic RSI indicating a bullish movement for Litecoin.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins find respite from the bear appeared first on AMBCrypto.
Source: AMB Crypto

Cardano [ADA] price set to bounce off resistance and head downwards; Here are the important levels to look out for

Cardano, the tenth largest cryptocurrency on CoinMarketCap had a decent rally over the past few days. The price of the cryptocurrency surged by 133% since December 16, 2018. However, the rally seems to be coming to an end as price candles have formed at the end of the ascending channel/rising channel.
Will the rally continue? Will the rally hit a roadblock and bounce back? If so, what are the levels to look for?
1-day
Source: TradingView
The one-day chart of Cardano showed the formation of a rising or ascending channel. This is a bullish pattern, provided a few conditions are met. These conditions include rising volume and divergence between price and other indicators, like RSI.
However, the current channel shows a higher probability of the price breaking to the downside due to two reasons.

The volume is declining after reaching a peak on March 23, 2019
There is a resistance [$0.06925] at the end of the channel

These two reasons are further corroborated by the Relative Strength Index, which was in the oversold zone. This indicated that the price has exhausted its buying momentum and has nowhere left to go, but downside.
Fibonacci Retracement Confirmation
Source: TradingView
After the previous surge in price took place between December 16, 2018, and January 10, 2019, the prices corrected from $0.05245 to a support at $0.03617, which also happened to be closest to the 61.8% Fibonacci level.
The Fibonacci Retracement for ADA in the current ascending channel shows a possible retracement to 61.8%, which also happens to be a support level at $0.04962.
Conclusion
Cardano seems to have exhausted its bullish momentum as it rallied one last time. The volume of Cardano showed a possible move to the downside. The following levels could be a possible correction for ADA if it broke to the downside, i,e $0.04962. Other supports for ADA are at $0.04523, $0.03617, and $0.02720.
The Cardano Ecosystem
There were quite a few updates, ranging from managerial restructuring to exchange announcements in March 2019, all of which could be speculated to have caused a surge in price. The most recent one was the integration of Cardano [ADA] with the cryptocurrency hardware wallet Ledger.
Additionally, Cardano became a founding member of the International Association for Trusted Blockchain Application [INATBA].
Other major updates in the Cardano ecosystem include the launch of the 1.5 main net. The release was part of the concluding stages of the Byron phase of development, including an improved proof-of-stake protocol. This development would ensure better block storage, the inclusion of the Daedalus wallet for Linux, the Cardano testnet, and an increase of Rust tools and other features within the coin’s ecosystem.

With the introduction of #Shelley, #ADA bears watching – decentralization of the network and stake pools may take ADA to the next level. #Cardano
— Weiss Ratings (@WeissRatings) March 25, 2019

Further, the Shelley update, which is yet to hit Cardano is much-awaited and a lot of users and ADA enthusiasts believe that it will help Cardano become more decentralized.
The post Cardano [ADA] price set to bounce off resistance and head downwards; Here are the important levels to look out for appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH] and Tron [TRX] Price Analysis: Coins set to gain momentum with bull’s return

Most cryptocurrencies recorded both uptrends and downtrends in the seven-day timeframe. Some cryptocurrencies such as Cardano [ADA], Binance Coin [BNB], and EOS recorded double-digit growth, while others such as Ethereum [ETH] and Tron [TRX] recorded barely any movement.
Ethereum 1-day
Ethereum one-day price chart | Source: TradingView
The one-day chart for Ethereum displayed downtrends from $247.76 to $157.55, and further south till $136.08. The uptrends for the cryptocurrency were recorded from $82.92 to $103.22, and further till $133.26.
The immediate resistance for the coin was at $140.57 and strong resistance was at $218.72. The immediate support for the cryptocurrency was placed at $125.18, while strong support was at $82.78.
Parabolic SAR showed the bull at the coin’s door as the dotted lines were aligned below the candlesticks.
Chaikin Money Flow also forecasted the bull’s arrival as money was flowing into the market, indicating its support for a green market.
MACD, on the contrary, pictured the moving average line creeping below the signal line.
Tron 1-day
Tron one-day price chart | Source: TradingView
The one-day chart for Tron demonstrated downtrends from $0.0390 to $0.0294, and $0.0294 to $0.0246. The uptrends for the coin were recorded from $0.0119 to $0.0129, and from $0.0129 to $0.0226.
The immediate resistance for the coin was set at $0.0246 and strong resistance was at $0.0390. The coin’s immediate support was at $0.0214, while strong support was found at $0.0118.
Chaikin Money Flow remained optimistic about the eleventh-largest cryptocurrency’s future as money was flowing into the market in its support.
Bollinger Bands forecast a market with reduced volatility for the currency as the bands were converging, leaving minimal space for price movements.
Klinger Oscillator indicated a bull wave for the coin as the reading line had crossed over the signal line.
Conclusion
The charts showed that a bull run was imminent for these cryptocurrencies as a majority of the indicators were projecting the bull’s return to the coin’s market.
The post Ethereum [ETH] and Tron [TRX] Price Analysis: Coins set to gain momentum with bull’s return appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Prices side with bulls in short-term, long-term still in turmoil

Bitcoin [BTC] briefly broke the $4,000 sentiment level yesterday. However, it dipped back and was trading at $3,966 at press time. The market cap of Bitcoin was hovering around $70 billion, with a 24-hour trading volume of $9.19 billion.
Most of the trading volume of Bitcoin usually comes from BitMEX exchange via the trade of Bitcoin perpetual contracts against the US Dollar. However, the trading volume of BTC contributed by BitMEX has reduced in recent weeks as it contributed only $469 million, which is 4% of the total Bitcoin trade volume.
FCoin exchange is the top contributor as it contributed $644 million in terms of trading volume via the trading pair ETH/BTC, which is 5.50% of the total trading volume.
1-hour
Source: TradingView
Bitcoin, on the one-hour chart, showed an uptrend that extended from $3,689 to $3,957, while the downtrend extended from $4,163 to $4,039. The prices were testing the immediate support at $3,953. Subsequent supports were seen at $3,848 and $3,696.
The Parabolic SAR markers spawned below the price candles and indicated that the price trend reversed and was headed upwards, whixh was a bullish signal.
The MACD indicator showed a bullish crossover below the zero-line. The MACD histogram on the one-hour chart showed green bars developing in tandem with the crossover.
The Relative Strength Index hit the 60-line and started its descent and was at the 50-line at press time, indicating an equal momentum between the sellers and the buyers.
1-day
Source: TradingView
The one-day chart of Bitcoin showed no signs of an uptrend, however, the downtrend extended from $9,800 to $4,056. The price of BTC bounced off the support at $3,189 on December 15, 2018. The immediate resistance was at $4,056, and subsequent resistance points were at $7,641, and $9,800.
The Aroon indicator showed the Aroon up line and Aroon down line collapsing. This indicated a consolidation movement that BTC was undergoing at press time.
The Stochastic RSI hit the oversold zone and showed a collapsing trend, which passed below the 50-line. This presented a bearish movement for Bitcoin in the longer timeframe.
The Chaikin Money Flow showed a rising trend, which meant that the money flowing into the Bitcoin market was high.
Conclusion
The one-hour chart showed a bullish trend for Bitcoin, which was confirmed by the Parabolic SAR, MACD, and RSI indicators. Unlike the one-hour chart, the one-day chart showed a consolidation phase for Bitcoin as indicated by Aroon, Stochastic RS, and CMF indicators.
The post Bitcoin [BTC/USD] Price Analysis: Prices side with bulls in short-term, long-term still in turmoil appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH/USD] Price Analysis: Cryptocurrency finds greener pastures

Ethereum [ETH], the second largest cryptocurrency by market cap, was indecisive about whether it wanted to ride with the bulls, or whether it wanted to go down the path of the beat market.
According to CoinMarketCap, Ethereum was trading at $137.28 with a market cap of $14.46 billion, at press time. The trading volume of the cryptocurrency was recorded to be $4.12 billion, while its price witnessed a fall of around 2% over the past seven days.
1-hour
Ethereum one-hour price chart | Source: Trading View
The one-hour chart for the cryptocurrency recorded three significant downtrends, from $142.52 to $138.83, from $138.76 to $137.49, and from $137.43 to $135.61. The uptrend for the coin was drawn from $132.77 to $134.68.
The immediate resistance for the cryptocurrency was at $137.51 and the strong resistance was at $140.21. The coin’s immediate support was placed at $134.67 and strong support was at $132.75.
Parabolic SAR pictured a bull market for the coin as the dotted lines were perfectly aligned below the candlesticks.
Klinger Oscillator sided with the Parabolic SAR as the reading line moved above the signal line after a crossover.
RSI showed that the buying pressure for the cryptocurrency was the same as the selling pressure.
1-day
Ethereum one-day price chart | Source: Trading View
On the one-day chart, the coin had two prominent downtrends, from $218.66 to $157.55 and further from $157.55 to $138.72. The uptrends for the cryptocurrency were from $82.92 to $103.22 and from $103.22 to $134.47.
The immediate resistance for the cryptocurrency was at $140.53 and strong resistance was at $157.75. The immediate support for the coin was at $125.17, while strong support was found at $82.78.
MACD was seen drawing the coin towards the bear’s side as the moving average line shifted below the signal line after a crossover.
Chaikin Money Flow showed that money was flowing into the market, a bullish sign for the coin market.
Bollinger Bands forecast a non-volatile market as the bands were closing in on each other.
Conclusion
At press time, major indicators such as the CMF from the one-day chart and Parabolic SAR and Klinger Oscillator from the one-hour chart, projected a bull market for the coin.
The post Ethereum [ETH/USD] Price Analysis: Cryptocurrency finds greener pastures appeared first on AMBCrypto.
Source: AMB Crypto

XRP Price Analysis: XRP/USD is Getting Ready for the Breakout

Coinspeaker
XRP Price Analysis: XRP/USD is Getting Ready for the Breakout
XRP price will rally to the north and make the supply level of $0.33 if the bullish candle breaks the $0.32 level close above it. Should the Bears prevail over the Bulls; the XRP price will decline towards $0.30 level and face the $0.28 demand level.
XRP Price Analysis: XRP/USD is Getting Ready for the Breakout

Continue reading at Coinspeaker
Source: CoinSpeaker

Ethereum [ETH/USD] Price Analysis: Coin cheers for bear as bulls accept defeat

Days after a price rush, a portion of the cryptocurrency market seems to have calmed down. This includes Ethereum [ETH], the second largest cryptocurrency by market cap.
According to CoinMarketCap, at press time, the coin was trading at $139.35 with a market cap of $14.67 billion. The trading volume of the cryptocurrency was $4.37 billion and the coin recorded a significant rise of over 4% over the past week.
1-hour
Ethereum one-hour price chart | Source: Trading View
The downtrends for the cryptocurrency on the one-hour chart were outlined from $142.52 to $140.19, and from $140.19 to $138.15. The uptrends for the cryptocurrency was recorded from $131.23 to $136.54.
The coin’s immediate resistances were at $138.15 and $140.20. A strong resistance found its stronghold at $142.54. The immediate support for the cryptocurrency was at $136.10 and the strong support was at $135.08.
MACD showed the moving average line below the signal line after a crossover and indicated a blood-red market for the cryptocurrency.
Bollinger Band predicted a less volatile market as the bands were closing on each other, giving little space for price movement.
Chaikin Money Flow indicated a win for the bear as the line was below the zero-line, indicating that money was flowing out of the market.
1-day
Ethereum one-day price chart | Source: Trading View
On the one-day chart, the downtrends for the cryptocurrency were traced from $218.66 to $157.56 and from $157.55 to $140.49. The uptrends for the coin were spotted from $82.82 to $103.22 and from $103.22 to $131.40.
The immediate resistance of the cryptocurrency was pictured at $140.52 and the strong resistance was at $157.62. The immediate support was found at $125.05 and the strong support was at $82.70
Klinger Oscillator forecasted that the bear would win the war for market dominance as the reading line moved below the signal line after a crossover.
Parabolic SAR, on the contrary, showed a bullish market as the dotted lines were below the candlesticks.
RSI showed an even buying pressure and selling pressure for the cryptocurrency.
Conclusion
The coin showed that Klinger Oscillator from the one-day chart, and MACD, and CMF from the one-hour chart, were cheering for the bear’s win. However, Parabolic SAR from the one-day chart stood by the bull.
The post Ethereum [ETH/USD] Price Analysis: Coin cheers for bear as bulls accept defeat appeared first on AMBCrypto.
Source: AMB Crypto

Stellar Lumens [XLM] Price Analysis: Bulls come out of the woodwork

Stellar Lumens, in partnership with IBM, successfully launched World Wire which will be a direct competition to Ripple’s solutions for cross-border payments. Stellar Lumens saw a spike after this announcement and has since subdued.
The price of XLM at press time was $0.02303, while the market cap was $2.2 billion.
1-hour
Source: TradingView
The one-hour chart of Tron showed a downtrend that extended from $0.0277 to $0.0236, while the uptrend extended from $0.0220 to $0.0229. The price found support at $0.0221 and bounced in an upward direction. The price even struck the immediate resistance at $0.0242 on March 16, 2019.
The Parabolic SAR markers developed above the price candles, which indicated that the short uptrend rally had stopped and was reversing.
The MACD indicator showed a recovering uptrend for the signal and the MACD lines after a bullish crossover.
The Relative Strength Index showed that the RSI topped at 55 and was reversing as well. The momentum of the sellers ran out as the RSI collapsed.
1-day
Source: TradinView
The longer time frame showed an uptrend that extended from $0.0129 to $0.02245, while the downtrend ranged from $0.04982 to $0.02593. The prices tried to cross the resistance at $0.0267, not once, but twice. Eventually, the prices failed to breach the resistance and headed downwards.
The Bollinger Band showed a squeeze, indicating the reduction of volatility for XLM in the longer time frame. The prices were above the SMA, which indicated a bullish presence for XLM.
The Chaikin Money Flow showed the CMF line above the zero-line, which indicated that money was flowing into the market. The sellers were dominated by the buyers.
The Stochastic RSI showed the topping of XLM markets as it was in the oversold zone. The Stochastic RSI also showed a bearish crossover that had begun.
Conclusion
The one-hour chart showed a bearish cycle in progress as indicated by the Parabolic SAR, MACD, and the Relative Strength Index. The one-day chart indicated a bullish view for Stellar Lumens as confirmed by Bollinger Bands, CMF, and Stochastic RSI.
The post Stellar Lumens [XLM] Price Analysis: Bulls come out of the woodwork appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH/USD] Price Analysis: Coin chooses bull as short-term companion

Ethereum [ETH], the second largest cryptocurrency by market cap, continued to show healthy movement in the coin market. According to CoinMarketCap, at press time, Ethereum was trading $139.34, with a market cap of $14.67 billion. The trading volume of the cryptocurrency was $4.12 billion, with a rise of over 4% in the past seven days.
1-hour
Ethereum one-hour price chart | Source: TradingView
The one-hour chart of the cryptocurrency recorded downtrends from $142.52 to $140.19, and from $140.19 to $138.07. The uptrends for the coin were from $129.29 to $130.18, and from $131.40 to $136.75.
The coin’s immediate resistance was set at $138.07, and $140.20. Strong resistance for the cryptocurrency was seen at $142.53. The immediate support layers were placed at $136.09, and $130.69. Strong support for the cryptocurrency was at $129.27.
Parabolic SAR had its dotted markers below the candlesticks, indicating a bullish run for the coin.
Klinger Oscillator, on the contrary, showed that the reading line had crossed below the signal line, indicating the bear’s victory.
RSI showed that the buying and selling pressures for the coin were equally met in the market.
1-day
Ethereum one-day price chart | Source: TradingView
The one-day chart outlined downtrends from $218.66 to $157.56, and from $157.55 to $140.49 for the cryptocurrency. The uptrends were from $82.92 to $103.22, and from $103.22 to $131.40.
The immediate resistance for the coin was at $140.53 and the strong resistance was at $157.73. On the contrary, the immediate support was at $125.14, and the strong support was at $82.77.
Bollinger Bands forecast a reduced volatility as the bands were reuniting in the market after an explosion.
MACD showed that the moving average line placed itself below the signal line right after a crossover.
Chaikin Money Flow also supported the bear’s cause in the market as money was flowing out of the market in the long term.
Conclusion
Even though the coin was showing signs of a healthy market, long-term indicators forecast a market painted in red for the cryptocurrency.
The post Ethereum [ETH/USD] Price Analysis: Coin chooses bull as short-term companion appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Price on a roller coaster ride after briefly crossing $4,000-mark

Bitcoin reclaimed the $4,000 level in a show of great market sentiment as it was a resistance level the coin hadn’t crossed in over two months.
Bitcoin’s price, at press time, was $4,004, with a market cap of $71 billion. The coin’s 24-hour trading volume also surged due to the recent pump, hitting $10 billion. Most of the trading volume for Bitcoin came from BitMEX exchange, which contributed to a whopping $1.47 billion in trading volume.
1-hour
Source: TradingView
The one-hour chart indicated bullish momentum for Bitcoin as the downtrend inclination suddenly changed due to the rally. The downtrend extended from $4,163 to $4.013, while the resistance at $3,953 was tested during the rally.
The Parabolic SAR markers formed below the price candles and indicated a bullish presence in Bitcoin’s one-hour chart.
The MACD indicator underwent a bullish crossover, reaching the 30-line.
The RSI struck the oversold zone, and was heading down towards the 70-line. This indicated a shift in momentum for Bitcoin.
1-day

Source: TradingView
The one-day chart showed a downtrend that extended from $9,800 to $4,000. The support line at $3,122 was holding well, but the resistance at $4,111 was about to be tested. The subsequent resistance was seen at $7,641.
The Aroon indicator showed a strong uptrend for Bitcoin, while the downtrend line was headed to the bottom. This indicated a change in trend in the longer timeframe.
The Stochastic indicator also showed a strong bullish crossover heading towards the oversold zone.
The Chaikin Money Flow tool was above the zero-line and indicated a massive money influx into the Bitcoin markets.
Conclusion
The one-hour chart showed heavy bullish momentum for Bitcoin, as indicated by the SAR and the MACD indicator. However, the RSI indicated a slight decrease in bullish momentum. The one-day chart for Bitcoin showed unanimous massive bullish momentum, unlike the one-hour chart.
The post Bitcoin [BTC/USD] Price Analysis: Price on a roller coaster ride after briefly crossing $4,000-mark appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH/USD] Price Analysis: Bulls and bears grapple for dominance

The entire cryptocurrency market was rejuvenated by the ongoing battle of the bulls and the bears. A majority of the coins were painted green, with some even surging by double digits.
According to CoinMarketCap, at press time, Ethereum was trading at $143.35 with a market cap of $15.08 billion. The coin had a trading volume of $5.22 billion, and witnessed a significant rise of over 6% over the day, and over 4% over the past seven days.
1-hour
Ethereum one-hour price chart |Source: TradingView
The one-hour chart displayed an uptrend from $138.94 to $142.52 for the cryptocurrency. The coin’s immediate resistance found its ground at $142.55, and strong resistance was at $164.24. The immediate support for the cryptocurrency was at $129.27, and  strong support was placed at $123.98.
Parabolic SAR showed that the bull was ahead of the bear as the dots were aligned below the candlesticks.
Bollinger Bands forecast a volatile market for the cryptocurrency as the bands were diverging from each other.
Chaikin Money Flow pictured the line dip below the zero-mark, and showed the bear entering the coin market.
1-day
Ethereum one-day price chart | Source: TradingView
The one-day chart showed that the downtrends for the cryptocurrency were outlined from $247.76 to $157.56, and from $157.55 to $135.99. The uptrends for the coin were from $83.74 to $103.22, and further from $103.22 to $131.40.
The coin had to breach its immediate resistance at $157.50, in order to get to the strong resistance, set at $218.76. The immediate support for the coin was at $125.18, and strong support was found at $82.82.
Klinger Oscillator showed that the bull had the potential to win over the coin, as the reading line was above the signal line after a crossover.
MACD had the moving average line below the signal line, post a bearish crossover.
RSI forecast balanced buying pressure and selling pressure for the coin in the market.
Conclusion
The charts showed the bull and the bear fighting for the coin. The bull tagged along with the Klinger Oscillator from the one-day chart and Parabolic SAR from the one-hour chart. The bear grouped with MACD from the one-day chart and CMF from the one-hour chart to tackle the bulls.
The post Ethereum [ETH/USD] Price Analysis: Bulls and bears grapple for dominance appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Coin awaits imminent breakout in near future

Bitcoin’s investor sentiment is positive considering the developments in the ecosystem. However, the price of Bitcoin doesn’t seem to be going anywhere as it is consolidating and moving in a sideways trend.
The price of Bitcoin, at press time, was $3,846 and the market cap was at $68 billion. The trading volume was hovering at $8.9 billion in the 24-hour time frame.
The largest contribution to the trading volume was from the exchange, BitMEX, via trade pair BTC/USD.
1-hour
Source: Trading View
The one-hour chart showed a downtrend that extended from $4,163 to $3,859, while the uptrend extended from $3,732 to $3,800. The price was bouncing off the support at $3,848. The subsequent resistance for Bitcoin was at $3,953.
The Parabolic SAR markers indicated a bearish pressure as they had formed above the price candles.
The MACD indicator was nearing the zero-line and indicated a consolidation. The lines, however, indicated a bearish crossover.
The Relative Strength Index showed an equal momentum from both the sellers and the buyers.
1-day
Source: TradingView
The one-day chart of Bitcoin showed a downtrend that extended from $9,800 to $3,875. The support at $3,122 bounced the price towards the immediate resistance at $4,111. The subsequent resistance was seen at $7,641.
The Aroon indicator showed a dominant uptrend that reversed as the downtrend was gaining strength.
The Stochastic RSI came short to hitting the oversold zone and was undergoing a bearish crossover to the bottom.
The Chaikin Money Flow showed the CMF line just above the zero-line and indicated a slight dominance by the buyers.
Conclusion
The one-hour chart showed consolidation and a slight pressure by the bears, which was confirmed by the Parabolic SAR, MACD and the Relative Strength Index indicators. The one-day chart showed a consolidation phase for Bitcoin as well. The Aroon indicator and the CMF showed a bullish trend for Bitcoin, while the Stochastic showed the beginning of a bearish trend.
The post Bitcoin [BTC/USD] Price Analysis: Coin awaits imminent breakout in near future appeared first on AMBCrypto.
Source: AMB Crypto