Bitcoin [BTC] could soon see an imminent breakout due to recurring bear pennant pattern

The price of Bitcoin is currently in a consolidation phase after formation of a recurring pattern twice within the span of a month. The current price of Bitcoin, at the time of writing, was $3,580, with the market cap hovering at $63 billion.
1-hour
Source: TradingView
Bitcoin’s price action, as seen in the chart above, is the best example of history repeating itself. The overall trend of Bitcoin is a downtrend as it has consistently been forming lower lows as seen in the hourly charts.
Pennant
There is a clear formation of a pennant in the price action chart, which breaks out to the top and then moves in a sideways fashion before dropping to retrace the same pattern all over again. However, it will be in a slightly lesser proportion compared to the one before.
Pennants usually show how the price gets caught up between forming lower lows as they head towards the peak of the pennant, where they have no more room, thus causing a breakout.
The first pattern started its formation on December 27, 2018, and it proceeded to ricochet between the trend lines consistently. The price broke out of the pennant pattern caused a massive spike of 6.56% as the prices rose from $3,838 to $4,090, The spike was followed by a sideways movement, which caused a sudden collapse in prices.
Fibonacci Retracement
The sudden collapse in the prices took place in two distinct steps, which occurred at the 0.618 Fibonacci level. The 0.618 level or the 61.8% level is deemed as the most important level by most traders. The price drop happened from $4,026 to $3,618, making a pit stop at $3,812, which, in total, was a drop of 10.13%. By observation, it can also be noted that the second collapse was almost half of the first one.
The second pattern that formed, followed the footsteps of the previous pattern and the price broke out of the pennant at $3,625 and reached $3,728, which was a total percentage increase of approximately 3%, which is half of the previous breakout. This followed by yet another sideways/downtrend movement, which collapsed again at the same Fibonacci level as the previous pattern. The collapse took place from $3,689 to $3,514 with a stop at $3,587 at the 0.618 or 61.8% Fibonacci level. The total decline was 4.74%, which is approximately half of the previous collapse.
Moreover, before the formation of the second pennant, the sideways movement of the prices found support at 0.886 or 88.6% Fibonacci level of the first pattern which was eventually broken as the prices fell lower.
At the moment, the prices are being supported at the 0.86 or 88.6% Fibonacci level of the second pattern, which is at $3,514, a perfect correlation. If the prices ever decide to break below this support, there is going to be a collapse.
1-day
Source: TradingView
The one-day chart also shows a consistent downtrend with prices forming lower lows, indicating a strong bear trend for Bitcoin. Bitcoin’s fall into the abyss is currently being supported by two supports, the first and the imminent support is at $3,477, which was tested multiple times. The second support is the lowest that Bitcoin reached in 2018, which is at $3,139.
Volume 
The volume indicator shows a very important indication of decreasing volume that has been in play since mid-November, which confirms that the price will undergo a massive and sudden change in the future.
The change, as per the technicals, indicates that the price should move downwards, however, the prices could go either way.
The Relative Strength Index also shows a declining trend, indicating that the selling momentum for Bitcoin is increasing.
Conclusion
The one-hour chart shows a recurring pattern in which the prices are being supported at the 0.86 Fibonacci level. If the price ever decides to drop to below the current support it would face the next immediate support at $3,136. In a worst-case scenario, the price would go into a free fall until $1,900 and the price was last seen at this point on July 14, 2017.
If the breakout happens to the upside then the price would have no resistance until $4,422 to $5,000, where the prices will be tested before it moves up. However, the one-day chart shows a declining volume trend, which indicates a strong movement in price that might happen in a few days.
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Source: AMB Crypto

Cardano [ADA] Technical Analysis: Token dwelling in the bearish zone despite a slight rise

The top-ten cryptocurrencies on the CoinMarketCap has witnessed a modest leap in its valuation in the last 24 hours along with the eleventh-largest digital currency Cardano [ADA]. After a momentary decline in its price in the evening of 23 January, ADA has managed to gear up steadily, exhibiting a bullish second half later that day.
At the time of writing, ADA held a market cap of $1.12 billion, priced at $0.043. The trading volume recorded for the coin was $22.03 million with a slim gain of 1.92%.
1-hour
Source: Trading View
During the one-hour time frame, Cardano [ADA] registered a low-key uptrend from of $0.042 to $0.044, the corresponding downtrend recorded was from $0.046 to $0.044. Immediate resistance was marked at $0.044 and that of immediate support at $0.043.
The Bollinger Bands predicts a rise in price volatility for the ADA coin during the mid of 23, January. This indicates a potential price fluctuation in the already unstable crypto market.
The Klinger Oscillator also marks the coin following a bearish pattern with the signal line treading above the reading line.
Further, the Awesome Indicator graph also depicts a bearish trend with the lines in red.
1-day
Source: Trading View
Cardano [ADA] experienced a significant uptrend of $0.043 from $0.030. However, the coin fell through massively and sustained a downtrend from $0.081 to $0.051. The coin held an initial resistance at $0.046 and the support at $0.041.
With dotted lines aligned right above the candles, Parabolic SAR depicts the coin in the bearish sphere despite early morning gains.
The MACD indicator pictures a bearish spiral for the coin with the MACD line positioned below the Signal line.
The Chaikin Money Flow, predicts a bearish market for ADA with the graph hovering a little below the zero-line, indicating a flush out of money from the market.
Conclusion:
Although the CMF indicator indicates the coin heading towards a bullish zone in the near future, with the graph very close to the zero-line, all the other indicators for the two time periods showed a strong pull towards the bear’s territory.
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Source: AMB Crypto

Cardano [ADA] Technical Analysis: Bear holds strong on to the token’s future

The eleventh-largest cryptocurrency on CoinMarketCap, Cardano [ADA] exhibited a uniform price during the first part of the January 20. A gradual decline in its valuation was noted later in the day followed by a steady surge during the first half of the next day. Cardano developer, Charles Hoskinson, hosted his latest impromptu AMA session last week, disclosing the launch of a revamped Daedalus wallet structure in its 1.5 version, which would aid the coin’s scaling up the process.
At the time of writing, ADA held a market cap of $1.110 billion. The coin was priced at $0.043 and the volume of coins traded accounted for over $16.5 million, with a decline of 0.89%.
1-hour
Source: Trading View
The uptrend registered by the coin during the one-hour period tallied from $0.045 to $0.046 and a downtrend from $0.046 to $0.043. The first resistance was marked at $0.044 and the immediate support at $0.042.
The Bollinger Bands indicator exhibits a contraction in the graph, depicting a decline in price volatility of the market.
The Awesome Indicator depicts a bearish pattern in the coin’s price, with the lines turning green.
The Klinger Oscillator shows a bearish market trend for the coin.
1-day
Source: Trading View
The one-day ADA graph shows an uptrend from $0.030 to $0.041 in its price, accompanied by a whopping downtrend from $0.077 to $0.046. The coin has faced an immediate resistance at $0.05 and support at $0.037.
The Parabolic SAR indicator traces a bearish market pattern for the coin, with the series of dotted line aligned above the candles.
The MACD indicator for the same time period also forecasts a bearish pattern, with the MACD line below the signal line.
The Chaikin Money Flow graph lies below the zero-line, which depicts that the price of the coin is following a bearish trend with money flowing out of the market.
Conclusion
As indicated by the indicators MACD, CMF and Parabolic SAR on the one-day chart and the AI and Klinger Oscillator on the one-hour chart, the future of ADA still lies in the bear’s realm.
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Source: AMB Crypto

XRP/USD Technical Analysis: Market suffocates cryptocurrency as prices remain unchanged

The cryptocurrency market’s volatile nature has been prolonged with a majority of the top coins suffering the same fate. Cryptocurrencies like Bitcoin [BTC], XRP and Ethereum have been going through a mixed phase of bullish and bearish trends, sometimes taking the side of the bull for a longer time. XRP, at the time of writing, had a bearish undertone, which was reflected by most of the other cryptocurrencies too.
1-hour:

XRP’s one-hour graph paints the picture of a cryptocurrency undergoing sideways movement as a result of the unmoving market. XRP’s immediate support has been holding at $$0.318 while the resistance is at $0.343. The downtrend brought the prices down from $0.337 to $0.322.
The Relative Strength Index shows the graph staying in the middle of the overbought zone and the oversold zone. The hold in the middle is a sign of a relative equilibrium between the buying pressure and the selling pressure.
The MACD indicator comprises of the signal line and the MACD line moving as a conjoined pair after a bearish turn. The MACD histogram, on the other hand, is a mix of both bearish and bullish signals.
1-day:

The one-day graph for XRP bears a resemblance to the one-hour graph as both shows sideways price movement. The long-term support is currently at $0.262 while the recent downtrend resulted in the price falling to $0.374 from $0.515.
The Chaikin Money Flow indicator has taken a steep dip below the zero line. This is a sign of the capital leaving the market increasing in momentum compared to the capital coming into the market.
The Awesome Oscillator has shown a dip in its graph when placed side by side with the other time periods. The lull in the graph signifies the lack of market momentum.
Conclusion:
The above-mentioned indicators all point to a bear regime, with an extended bear run predicted. As the investor sentiment sours due to the unmoving market, proponents of the field expectantly wait for the market to go green before recording the longest bear market in the history of cryptocurrencies.
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Source: AMB Crypto

Ethereum [ETH/USD] Technical Analysis: Coin has found a new resting place

Ethereum [ETH], the third-largest cryptocurrency by market cap, continues to stay beside the bear. It is not the only cryptocurrency that is preferring the bear over the bull. Other coins such as Litecoin [LTC], Monero [XMR] and Bitcoin [BTC] are also pictured hanging out with the winter animal.
According to CoinMarketCap, at press time, Ethereum was trading at $117.30 with a market cap of $12.25 billion. The currency has a trading volume of $2.29 billion and has plunged by over 8% in the past seven days.
1-hour
Ethereum one-hour chart | Source: Trading View
In the one-hour chart, the coin demonstrates a downtrend from $129.38 to $124.65 and $122.85 to $116.30. The uptrend is outlined from $114.35 to $115.03. The resistance levels are set at $117.81 and $124.93 for the coin. Whereas, the support levels can be spotted at $114.95 and $114.30
Chaikin Money Flow, irrespective of the coin’s choice, is forecasting a green day as the line is able the zero-mark, showing that the money is flowing into the market.
Bollinger Bands is forecasting a less volatile market as the bands are seen close to each other.
Parabolic SAR is abiding by the coin’s decision and is seen forecasting a bearish market as the dots have aligned above the candlesticks.
1-day
Ethereum one-day chart | Source: Trading View
The one-day chart shows a downtrend from $499.01 to $155.91 and from $149.9 to $123.20. The uptrend for the coin is pictured from $117.43 to $83.74. The immediate resistance is laid out at $128.51 and the strong resistance is at $156. The support grounds for the currency is at $114.43 and $82.82.
RSI is showing that the buying pressure is currently evened out with the selling pressure.
MACD is forecasting a bearish side for the coin as the moving average line is below the signal line after the two met for a short duration.
Klinger Oscillator, is on the same page, as the reading line has placed itself below the signal line after a crossover.
Conclusion
The coin likes its refugee in the bear’s market as it is indicating a longer stay. The indicators that are in complete agreement with the coin’s decision are Parabolic SAR from the one-hour chart, MACD and Klinger Oscillator from the one-day chart.
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Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Bears pressure the bulls out of the scene

Tron has been known to defy the market trend on multiple occasions and it was doing the same at the time of writing. The prices of Tron are up by 4.15% with a market cap of $1.74 billion while the 24-trade volume is at $248 million.
Most of the trade volume for TRX comes from the exchange Upbit, a Korean exchange via the trading pair TRX/KRW.
1-hour
Source: TradingView
The one-hour chart for Tron shows an uptrend that extends from $0.0215 to $0.0237, while the downtrend extends from $0.0328 to $0.0264. TRX prices have moved away from the support at $0.0212 and towards its imminent resistance point at $0.02678. The subsequent resistance point can be seen at $0.0328.
The Parabolic SAR indicator indicates a bearish move as the markers have spawned above the price candles.
The MACD indicator has finished a quick bearish crossover and seems like it might undergo another crossover, but a bullish one, unlike the recent crossover.
The Awesome Oscillator shows a decreasing momentum as the bars are reducing in size and the bars are transitioning from red to green bars.
1-day
Source: TradingView
The one-day chart shows a small uptrend that extends from $0.0132 to $0.0215 while the uptrend extends from $0.0287 to $0.0725. The support at $0.0120 is holding good even in the longer one-day time frame. The resistance line at $0.0268 was breached briefly as the price moved above it and has now come back down again.
The Aroon indicator shows a crashing uptrend that has reached the zero-line, while the downtrend line has failed trying to come back up.
The Chaikin Money Flow shows a crashed CMF line to an oversold zone. The money for TRX is flowing out of the market.
The Relative Strength Index shows a slightly higher buying momentum as the RSI line has crossed above the 50-line.
Conclusion
The SAR, MACD, and AO indicators all indicate a bearish aura hanging over Tron in the one-hour chart. The one-day chart for TRX shows a sideways trend as indicated by Aroon, CMF, and RSI markets.
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Source: AMB Crypto

XRP/USD Technical Analysis: Signs of a small bull run imminent in the shorter time-frame

XRP, the second-largest cryptocurrency in the world, still holds its position with a market cap of $13 billion and 24-hour trading volume at $370 million.
Most of the trade volume for XRP comes from ZB.COM exchange via trade pair XRP/BTC. The price of XRP is at
$0.32, however, is on a slight rise today.
1-hour
Source: TradingView
The uptrend for XRP in the one-hour time frame has vanished into thin air, while the downtrend strengthens as it extends from $0.3860 to $0.3247. The support at $0.3205 was breached January 20, 2019, at 12:00 UTC. The prices have resurfaced after a brief dip. The resistance at $0.3426 and $0.3806 are holding steady.
The Parabolic SAR indicator shows a positive trend for XRP as it is seen placed below the price candles in the charts.
The MACD indicator shows a bullish crossover, which started at 22:00 UTC and is close to crossing over to the top of the zero-line.
The Awesome Oscillator also shows decreasing green bars that have spawned and are at the verge of crossing over to the top of the zero-line, indicating a bullish crossover.
1-day
Source: TradingView
XRP’s trend lines in the one-day chart show a similar trend where the uptrend has not gained significant momentum yet. The uptrend extends from $0.2931 to $0.3215. The downtrend ranges from $0.9027 to $0.3754. In this timeframe, XRP being supported at $0.2627, while resistance lines are still holding strong at $0.5821, $0.6899, and $0.9027.
The Aroon indicator shows a downtrend that has gained excessive momentum, while the uptrend is failing to neutralize it.
Chaikin Money Flow, as seen in the chart above, has crashed and burned, indicating that the larger timeframe for the coin is in the bear’s territory.
The RSI shows a similar construct for XRP as the momentum of sellers is increasing, while the buyers are shying away from them.
Conclusion
The one-hour shows a bullish trend for XRP’s prices, as all the indicators [SAR, MACD, and AO] show that bulls’ are taking the prices on a rally. The longer timeframe for XRP shows a slight bear trend as the indicators Aroon, CMF, and RSI all indicate a downtrend.
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Source: AMB Crypto

Litecoin [LTC] Technical Analysis: Bears retain the upper hand as bulls offer weak resistance

Litecoin [LTC] is one of the many cryptocurrencies that is facing a difficult period of late since the unexpected slump of January 10, 2019. It has struggled to get out of the bear’s grasp for a while now, which does perhaps raise concerns about the immediate future of LTC.
At the time of press, LTC was priced at $31.01, way below its value of $40.79 on 8 January. It has a market cap of $1.863 billion and a 24 hr trading volume of $554 million, with a majority of it  ( $58.42 million or 9.96%) being contributed to by ZB.com, via the trading pair LTC/USDT. Finally, LTC’s value has fallen by a significant 6.45% over the last 24 hours.
1-hour
Source: TradingView
The 1-hour chart demonstrated a significant downtrend that extended from $33.381 to $31.106 after a brief uptrend that extended from $33.307 to $33.697.  The last point of resistance was at $33.723 while the support point at $30.744 was holding strong.
The Parabolic SAR has the markers above its candlesticks, an indication of a bearish market. However, considering it’s flattening, it would seem that the bulls are offering some resistance over the last hour.
The Chaikin Money Flow has the line creeping its way over zero, suggesting that money is slowly trickling back into the market on the back of the bulls.
The Relative Strength Index indicates that after a point when the market was oversold and was bearish, both the buying and selling pressures have evened out.
1-day
Source: TradingView
The 1-day chart exhibits a continuing downtrend extending from $40.155 to $32.863 while the last uptrend was witnessed over two weeks ago and ranged from $34.289 to $40.079. The support point is holding strong at $30.411 while the last point of resistance was at $40.131.
The Bollinger Bands are neither expanding nor contracting, which indicates that volatility in the market is holding steady.
The MACD shows that the signal line is way over the blue MACD line and thus, the projection is one of a bearish market in the immediate future.
The Klinger Oscillator has the reading line well below the signal line and therefore, suggests that the market has a bearish trend.
Conclusion
All the above indicators would suggest that the market is overwhelmingly bearish and shall remain so in the future. And although indicators such as the SAR, Chaikin and RSI suggest some form of bullish resistance, the near future of LTC, as suggested by other indicators, remains firmly in the bear’s realm.
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Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: Market trend remains unchanged as bear takes the throne

Bitcoin [BTC]’s sideways movement has been an event branded by a lot of officials and professionals as a prequel to a raise to the top. The cryptocurrency market has reflected this behavior too, with the prices staying in the green sometimes and red during others.
1-hour:
Bitcoin 1-hour chart | Source: Tradingview
Bitcoin’s one-hour graph has seen more significant downtrends than uptrends. The latest downtrend brought the price down from $3,767.7 to $3,584.8. The support has been holding at $3,563.6 while the immediate resistance is at $3,826.1.
The Chaikin Money Flow indicator has just spiked to the zero-line after staying below it. This is indicative of an increase in the capital coming into the market compared to the capital leaving the market.
The Awesome Oscillator shows an increase in the graph. The increase also points to the fact that the market momentum has increased significantly.
1-day:
Bitcoin 1-day chart | Source: Tradingview
The one-day graph for Bitcoin does not paint a better picture for the cryptocurrency, with the ongoing downtrend gaining predominance. The support has been holding at $3,263 while the downtrend resulted in the price falling from $6,467 to $3,777.7.
The Relative Strength Index shows the cryptocurrency falling to the depths of the oversold zone, a trend that has lasted for more than two months. The hold near the oversold zone is a sign of the selling pressure being more than the buying pressure.
The MACD indicator has moved as a conjoined pair after the signal line and the MACD line underwent a bearish crossover. The MACD histogram has majorly shown a bearish trend.
Conclusion
Bitcoin’s bearish woes continue as the above-mentioned indicators all take the side of the bear. As January runs into its last week, the cryptocurrency market has seen more significant downtrends than uptrends. With the indicators pointing to a continued sideways movement facilitated by the bear, investors may still need to wait for more time for their fortunes to reverse.
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Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: Bulls ride the prices out of the immediate resistance zone

Bitcoin has once again been moving in a sideways trend stuck in the $3,600 range consolidating for over nine days now.
The market cap of Bitcoin is at $64 billion with 24-hour trading volume at $5.3 billion after dipping as low as $4.92 billion. Most of the trade volume for Bitcoin is coming from BitMEX exchange for trading derivates of Bitcoin paired with USD.
1-hour
Source: TradingView
The uptrend for Bitcoin has extended and it now ranges from $3,498 to $3,593, while the downtrend extends from $4,025 to $3,724. The prices are being supported at $3,578 which is the immediate support, and at $3,498. The resistance for Bitcoin are at two points, $3,648 to $3,666 and $3,919 to $3,944.
The Aroon indicator shows that uptrend for Bitcoin in the one-hour shows that the Aroon green line has struck the 100-line after showing signs of crashing. The Aroon indicator shows that the bulls have taken control of the price and are pumping it.
The Chaikin Money Flow shows that the money flowing into the Bitcoin market is far greater than the money flowing out, which indicates that the buyers are in control of the market.
The Relative Strength Index shows that the momentum for BTC has shifted towards the buyers, as the RSI line has broken the over-bought zone.
1-day
Source: TradingView
The one-day chart shows that the downtrend is far more dominant and doesn’t compare to the measly uptrend in the larger time frame. The uptrend extends from $3,184 to $$3,514, while the downtrend extends from $9,800 to $4,004. The prices are supported at $3,183 while the resistance lines can be seen hanging at $7,359 to $9,075.
The Bollinger Bands show that the prices are undergoing a squeeze and the prices are trying to swim above the simple moving average line.
The MACD line and the signal line look like they are about to coincide and cross each other in a bullish crossover. The histogram shows that the red bars below the zero-line are reducing in strength post the price hike that Bitcoin has seen.
Conclusion
The Aroon, CMF and the RSI all indicate that the bulls have returned taking riding the prices in an uptrend. The one-day chart also shows the same as the Bollinger Band and MACD indicator both indicate a possible bullish crossover that is imminent.
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Source: AMB Crypto

Ethereum [ETH/USD] Technical Analysis: Coin will be held captive by the bear for a longer duration

Since the past few days, the cryptocurrency market has neither seen a dramatic fall nor a rise. The price of all the coins seems to be stable even though they are controlled by the bear.
According to CoinMarketCap, at press time, Ethereum was trading at $121.51 with a market cap of $12.69 billion. The trading volume of the cryptocurrency is pictured to be $2.25 billion and the coin has plunged by over 4% in the past seven days.
1-hour
Ethereum one-hour price chart | Source: Trading View
In the one-hour chart, the coin shows a downtrend from $150.73 to $120.51. The uptrend for the coin is registered from $114.35 to $118.87. The coin has to first breach the immediate resistance level, which is set at $122.56 to proceed onto the strong resistance level, which is set at $129.47. The immediate support of the cryptocurrency is at $117.91 and the strong support is at $114.30.
Klinger Oscillator is currently forecasting the bull’s presence in the market for the cryptocurrency as the reading line is pictured above the signal line after a crossover.
RSI is showing that the buying pressure for the cryptocurrency is evened out by the selling pressure for the coin.
Bollinger Bands is picturing a less volatile market as the bands are seen closing in on each other.
1-day
Ethereum one-day price chart | Source: Trading View
The one-day chart demonstrates a downtrend from $618.63 to $115.91 and from $149.49 to $122.53. The cryptocurrency has recorded an uptrend from $83.74 to $115.61 and takes more steps forward to rest at $119.53. The immediate resistance for the coin is set at $156.06 and the strong resistance is at $218.94. The coin has set its immediate support ground at $114.17 and its strong support ground at $82.71.
MACD is forecasting a bearish market as the moving average line is currently seen below the signal line, after the two had a crossover.
Chaikin Money Flow is also predicting a bearish market as the money is flowing out of the market for the coin.
Parabolic SAR is on the same page as the dots have aligned above the candlesticks.
Conclusion:
The coin will continue to be held captive by the bear as the long-term players are in its support. This includes MACD, Chaikin Money Flow, and Parabolic SAR from the one-day chart.
The post Ethereum [ETH/USD] Technical Analysis: Coin will be held captive by the bear for a longer duration appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] Technical Analysis: Bear still in the driving seat as cryptocurrency struggles to climb

Bitcoin [BTC] has been caught between the bull and the bear over the course of the New Year as the prices show an up-down movement. The world’s largest cryptocurrency’s pattern on the charts has also been reflected by the other cryptocurrencies, with the market bleeding red at the moment. Even though 2019 opened to a green spread, the situation right now is nothing short of tumultuous.
1-hour

The one-hour chart shows the cryptocurrency taking a dive in terms of prices as the downtrend remains prevalent. The price drop brought the prices down from $4,030.81 to $3,660.97. The immediate short term support is at $3,501.11 while the resistance is holding at $4,068.99.
The MACD indicator has taken the pattern of a low amplitude sinusoidal graph as the signal line and the MACD line moves in a conjoined manner. The MACD histogram shows a predominantly bearish pattern.
The Relative Strength Index has fallen to the brink of the oversold zone after staying up near the overbought zone. The hold near the bottom of the graph shows that the selling pressure is much higher than the buying pressure due to a change in investor sentiments.
1-day

Bitcoin’s one-day graph shows a similar pattern to that of the one-hour graph, a dominant downtrend followed by a slight bullish spike. The downtrend was responsible for the prices to fall from $6,266.51 to  $4,020.38 while the uptrend lifted the price from $3,184.61 to $3,689.55. The immediate support on the one-day graph is at $3,167.20.
The Chaikin Money Flow indicator is still below the zero line as the cryptocurrency struggles hard to punch above it. Being below the zero line is a sign of the capital leaving the market being more than the capital coming into the market.
The Awesome Oscillator points at an almost negligible movement after a massive movement back in December. The lull in the AO is also representative of the reduced market momentum.
Conclusion
The above-mentioned indicators point to a continued sideways movement, with sporadic bullish rises in between. As January crosses the mid-month mark, investors and users hope that the bull takes over the steering wheel from the bear.
The post Bitcoin [BTC] Technical Analysis: Bear still in the driving seat as cryptocurrency struggles to climb appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Booming asset takes a break fighting the bears

Tron, the ninth-largest cryptocurrency has been performing better than every other cryptocurrency even in the brutal bear market. The price of TRX, at the time of writing, was at $0.0252 with a market cap of $1.68 billion.
The 24-hour trade volume for Tron is $313 million and most of it is contributed by Korean exchange, Upbit via trade pair TRX/KRW. Upbit contributes a total of 13.17%. Following it is Binance which contributes a total of ~24% via trade pairs TRX/USDT and TRX/BTC.
1-hour
Source: TradingView
The one-hour chart shows an uptrend that extends from $0.0215 to $0.0254 while the downtrend extends from $0.0328 to $0.02566. TRX bounced off the support at $0.0212 that was created by the dip in prices on January 13, 2019. The resistance points for TRX in the shorter time frame can be seen at $0.0267 and $0.0328.
The Parabolic SAR markers have spawned above the price candles, indicating a bearish pressure for the prices.
The MACD indicator is also indicating the same trend, i.e, a bearish crossover to the bottom. The histogram has shifted to red bars below the zero-line.
The Awesome Oscillator shows decreasing red bars that are getting closer to the zero-line indicating that the prices are decreasing steadily.
1-day
Source: TradingView
The uptrend in the one-day time frame shows that it extends from $0.0132 to $0.0215 while the downtrend ranges from $0.0725 to $0.0287. The prices are supported at $$0.0120 but the resistance points are seen hanging at $0.0268 and $0.0496. The former resistance point was breached January 8, 2019.
The Aroon indicator shows a prevailing uptrend as indicated by the Aroon green line. The Aroon red line has hit the zero-line indicating that the downtrend has exhausted.
The Chaikin Money Flow shows that money is flowing out of the market and that the sellers are dominating the market for Tron.
The Relative Strength Index shows the same as CMF as the RSI seems to be stuck in the middle indicating that the buying momentum and the selling momentum for Tron markets are balanced.
Conclusion
The one-hour chart for TRX is nothing but bearish indicated by SAR, MACD, and AO indicators. The one-day time frame shows a bearish trend as well, with Aroon, RSI and CMF indicators.
The post Tron [TRX/USD] Technical Analysis: Booming asset takes a break fighting the bears appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: The Digital Gold is barely hanging on

Bitcoin, which was holding the $3,600 line has been breached on January 13, 2019, at 15:00 UTC and BTC is currently being traded at $3538. The market cap of BTC has also collapsed and is currently at $62 billion with 24-hour trade volume at $5.15 billion.
BitMEX is the biggest contributor to this trade volume as it contributes a total of $964 million via trade pair BTC/USD in the form of derivatives. CoinBene is the second exchange that has contributed the most i.e., $300 million via trade pairs BTC/USDT, LTC/BTC, QTUM/BTC, and XLM/BTC.
1 Hour
Source: TradingView
Bitcoin’s prices in the one-hour chart show an uptrend that extends from $3238 to $3498 while the downtrend extends from $4205 to $3538. BTC has broken its support at 3578 and dropped lower, creating new support at $3498. The resistance points are still the same, i.e, $3,919-$3,944 and $4,203-$4,239, which are yet to be tested.
The Aroon indicator shows a bullish trend for Bitcoin as the Aroon green line has hit the 100-line. The Aroon red line has plunged lower indicating that it has lost control of BTC’s trend.
The Stochastic indicator shows a bearish downtrend as the Stochastic line has crossed the signal line to the bottom indicating a bearish crossover.
The Chaikin Money Flow shows a positive outlook for BTC as the money is flowing into the market, which means that the buyers are dominating when compared to sellers.
1 Day

Source: TradingView
The one-day chart shows a small uptrend that extends from $3,184 to $3,626, while the downtrend extends from $9,800 to $4,004. The long-term support can be seen hanging at $3,183 while the resistance points are seen at $7,359 subsequent resistance can be seen at $9,113.
The Parabolic SAR markers for Bitcoin in the one-day chart have spawned above the price candles which indicates a bearish pressure for the prices.
The MACD indicator, just like the SAR shows a bearish outlook as the MACD lines are undergoing a bearish crossover.
The Awesome Oscillator shows a bearish crossover that has just begun as the red lines have moved to the bottom of the zero-line.
Conclusion:
The one-hour chart paints a positive picture for Bitcoin as indicated by the Aroon, CMF, and Stochastic indicators. The one-day time frame shows a rather negative outlook for Bitcoin as indicated by SAR, MACD and the AO indicators.
The post Bitcoin [BTC/USD] Technical Analysis: The Digital Gold is barely hanging on appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency’s hold above $4,000 acts as its new cushion

The cryptocurrency market’s roller-coaster ride in 2019 has been ongoing with several coins seeing ups and down on the price charts. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP witnessed stagnated price holds in a scenario where Ethereum overtook XRP to become the second-largest cryptocurrency. Bitcoin, at the moment, is still holding above the $4,000-mark.
1-hour

The one-hour Bitcoin chart shows a cryptocurrency that has settled into a sideways price movement after increasing its support from its previous hold. The immediate support has been holding at $3795.4 while the immediate resistance is at $4,191.1. The uptrend that lited the prices ranges from $3,901.7 to $4,124.6.
The Parabolic SAR has been a mix of bearish and bullish signals with the markers currently staying above the markers. This is a sign of the bear showing its dominance.
The MACD indicator remains unchanged over a day as the signal line and the MACD line are both moving as a conjoined pair. The MACD histogram just like the Parabolic SAR shows sporadic bearish and bullish points.
The Awesome Oscillator is holding a reduced value now as the sideways price has put off investors. The lull signifies the market momentum reducing.
1-day

Bitcoin’s one-day graph paints a picture of a cryptocurrency trying to get out of its bearish drudge. The downtrend that occurred in November was significant, bringing the price down from $6,475 to $4,166.4. The immediate support on the long-term graph is a $3,270.
The Relative Strength Index is holding in the middle of the graph, which indicates an equilibrium between the selling pressure and the buying pressure.
The Chaikin Money Flow indicator is below the zero line, a sign of the money flowing out of the market being more than the inflow.
Conclusion
Bitcoin’s current situation is reflective of the entire cryptocurrency market as the coin finds itself in between the bear and the bull. The above-mentioned indicators all point to a continued sideways price movement interspersed with slight hikes.
The post Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency’s hold above $4,000 acts as its new cushion appeared first on AMBCrypto.
Source: AMB Crypto