The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

The G20 considers cryptocurrencies risky, said the head of Italy’s central bank, but the broad consensus is that they should not be banned. After days of negative news, this is a positive shift for the cryptomarket. Led by Bitcoin, most cryptocurrencies are trying to pull back from their recent lows.

The plunge in cryptocurrencies from their December highs had scared off new wannabe cryptocurrency investors. Once the tide turns, we may see fresh money trickle back into the markets.

A recent survey by Finder.com shows that only 8 percent of the Americans own cryptocurrencies and another 8 percent plan to buy it in the future. With about 92 percent of the population still untapped, the markets have a long way to go. There is still enough skepticism and fear due to the huge volatile moves in the digital currencies. However, if traders plan properly, the risks are way less than made out to be.

Let’s watch the setups that are developing on the top coins.

BTC/USD

Bitcoin broke out of the descending channel on March 20, which is a bullish sign. It had broken out once earlier on March 02, but it could not sustain the higher levels. Within six days, the price was back inside the channel. Will the same thing repeat again?

BTC/USD

Just above the resistance line of the descending channel are resistances from the 20-day EMA and the 50-day SMA. We expect the bears to strongly defend this zone because once the price breaks out of this, the BTC/USD pair will rally to $12,172.

The next dip towards the $8,800 levels should offer the traders a good entry opportunity. They should purchase 50 percent of the desired allocation around $8,800 with a stop loss of $7,600. The remainder of the position can be added once the cryptocurrency is clear of both moving averages.

The target objective on the upside is a rally to $12,000.

ETH/USD

Ethereum is trying to break out of the descending channel (marked 2 on the chart) and the overhead horizontal resistance at $565.54. If successful, we’ll see a rally to the 20-day EMA at $650, which will most likely trigger bears selling.  

ETH/USD

Above the 20-day EMA, the resistance line of the descending channel and the 50-day SMA are the other two significant resistance levels.

Aggressive traders can buy if the price closes above $575 (in the UTC time frame). The initial stop loss can be placed at $500. If the cryptocurrency struggles to break out of $660, the positions can be closed.

On the contrary, if the ETH/USD pair turns back below $565, it will become weak, and the price will experience a retest of the recent lows.

BCH/USD

Bitcoin Cash has broken out of the downtrend line and is currently trying to move above the 20-day EMA. There are a number of resistances between $1,100 to $1,200.

BCH/USD

Currently, the cryptocurrency remains in a downtrend, as both moving averages are falling and the price is still below them. Once it sustains above $1,200, we can expect the BCH/USD pair to attract buyers and rally towards $1,600. We should wait for Bitcoin Cash to break out of the 50-day SMA before suggesting any trades.

On the downside, $980 and $880 will act as strong support on declines.      

XRP/USD

In our previous analysis, we had recommended a long position for Ripple at $0.71, which got filled on March 19. The stop loss for the trade is $0.53, which is just below the low on March 18.

XRP/USD

On March 20, the XRP/USD pair formed an inside day candlestick pattern. The range has shrunk again today, showing indecision between the bulls and the bears.

If the consolidation of the past two days breaks out of $0.73, the pullback will gain strength.

On the upside, the bears will pose a stiff challenge in the zone between the 20-day EMA and the 50-day SMA. Once the price breaks out of the $0.9 levels, the cryptocurrency should rally to $1.1 and then to the upper end of the $1.2 range.

We need to close the position if the price struggles to break out of any of the above-mentioned resistances.

XLM/USD

Stellar has pulled back from the lows of $0.2 to the 20-day EMA. It has broken out of the downtrend line meanwhile, which confirms that the negative momentum is weakening.

XLM/USD

Still, the bears will try to defend the 20-day EMA. If the bulls purchase the subsequent dip around the $0.23 mark, it will offer the traders an opportunity to initiate long positions. We are suggesting an aggressive trade on the XLM/USD pair because we find that the 20-day EMA, the resistance line of the descending channel and the 50-day SMA have not offered a strong resistance previously.

The position can be covered if the daily close (UTC) is below $0.18. On the upside, we can expect a rally to $0.35. If this level is crossed, a move to $0.47 can’t be ruled out.

LTC/USD

Litecoin looks strong as it has pulled back smartly from the lows of $144.544. It has broken out of the downtrend line, which is a positive sign. The current recovery might face a stiff resistance between the 20-day EMA and $187. We need to wait for the next dip to initiate long positions.

LTC/USD

We find a large symmetrical triangle formation on the LTC/USD pair, which will break out above $205. Though the target objective is way higher, we can trade it for an up move to $240 and after that to $300.

Two possibilities are developing. Either buy on a dip towards $165 with a $142 stop loss or wait for a breakout above $205 to enter long positions with a stop loss at $180.

ADA/BTC

Cardano has broken out of the downtrend line for the first time since January this year. This is a major development as it shows that the trend is changing.  

ADA/BTC

Right now, the ADA/BTC pair is facing resistance at 0.00002460. Once the bulls clear this resistance, a move to 0.000035 is possible.

Therefore, we suggest long positions if the price sustains at 0.000025 levels for four hours. The stop loss can be kept at 0.000016.

NEO/USD

NEO has pulled back sharply from its recent lows of $49.04. This shows that the markets have rejected the breakdown and the lower levels. We expect a stiff resistance at the $86 levels.

NEO/USD

If the NEO/USD pair finds support at the $65 mark during the next dip, it will signal a bottom formation and can be purchased with a stop below $48.

But if the price continues to march higher, then $90 is a good level to enter long positions with an initial stop loss of $70, which can be raised later. Our first target objective is a move to $115, where we anticipate selling. If NEO breaks out of $120, the momentum should pick up and push prices towards $140 levels.     

EOS/USD

EOS has risen sharply from its lows of $3.8723. For the past two days, it is facing selling at the 20-day EMA, but it has not given up much ground, which is a positive indication.

EOS/USD

If the EOS/USD pair rallies above $6.3, it should move up to the resistance line of the descending channel.

Prices have turned down from the channel line on two previous occasions, hence, this will act as a stiff resistance. At the moment, we don’t have an attractive risk to reward ratio, that’s why we don’t recommend making any trades on it.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Follow us on: #Altcoin News #Bitcoin Price #Ethereum Price #Bitcoin Cash #Ripple #Stellar #Litecoin #NEM #NEO #EOS Comments

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Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

The focus will probably shift to the G20 summit, where cryptocurrencies are expected to be discussed. The Financial Stability Board (FSB), which advises on and coordinates financial regulation in the G20, is unlikely to introduce new rules, but the news will still keep the markets on edge.

While this news and events are keeping many investors at bay, Tom Lee, a managing partner at Fundstrat has a different opinion. He believes that Bitcoin can reach $91,000 by March 2020, if it repeats its past performance of rising from the ashes following sharp declines.

Do we spot any buying opportunities? Let’s find out.

BTC/USD

Bitcoin is in a downtrend, as it is trading inside the descending channel and below both moving averages. Though the path of least resistance is on the downside, we believe that the price action points to a possible change in trend within the next few days.

BTC/USD

For the past few days, the BTC/USD pair has been clinging to the resistance line of the descending channel, which shows that the bears are losing momentum.

Judging by the two previous years, prices rebound sharply after the RSI enters the oversold territory. Therefore, we should look for an entry opportunity if the cryptocurrency plunges because of the panic selling.

Traders can also enter long positions if Bitcoin breaks out of the channel and both moving averages.

We like the way the cryptocurrency has held above the February 06 lows despite the negative news. This gives us confidence that a bottom is around the corner, but we would recommend buying only after some confirmation on the charts. In case of any fall, the next major support is $6,075.04.

ETH/USD

Ethereum broke below the critical support of $565.54 and plunged to a low of $452.32 on March 18. This shows that the bears have an upper hand. The fall has pushed the RSI into the oversold territory, but we still don’t have any confirmation that the downtrend has ended.

ETH/USD

Right now, the ETH/USD pair is falling inside another descending channel (marked as 2 on the chart). Any attempt by the bulls to pullback will face strong resistance at the 20-day EMA, the resistance line of the larger descending channel and the 50-day SMA.

On the downside, if the cryptocurrency breaks below $450, it can fall to the next support zone of $385 to $413.

BCH/USD

Bitcoin Cash dipped below $900 levels in intraday trading on March 18 but closed well above it. The $900 level has proven to be strong support.      

BCH/USD

On the upside, the downtrend line is major resistance. Above this, there are a slew of resistances between the $1,100 to $1,225 levels.

We don’t have any buy setups on the BCH/USD pair at the moment. Therefore, we do not recommend any trade on it.     

XRP/USD

Ripple dipped below the critical support of $0.56270 on March 18, but buying at lower levels again pushed prices above the support line.

XRP/USD

We expect the XRP/USD pair to trade between $0.56 to $1.22961 for a few days. As this is a large range and can be traded, we suggest buying at $0.71 with a stop loss of $0.53. Our target objective is a move to $1.22 levels, but it won’t happen in a hurry.

Any up move will face resistance at the 20-day EMA and the 50-day SMA. We shouldn’t be fixated on the target. We need to liquidate the position if the price struggles at any specific level.        

XLM/USD

Stellar is in a downtrend. It continues to trade below both moving averages and the downtrend line. It has been falling inside a descending channel since the first week of this year. As long as it remains inside the descending channel, it is vulnerable to selling pressure.

XLM/USD

It fell below our anticipated support of $0.22. At the moment, the XLM/USD pair is close to the downtrend line, which has strong resistance. If this level is crossed, the next critical zone will be between $0.284 and $0.32.

We suggest waiting for the trend to change before making any trades.  

LTC/USD

Litecoin fell to $144.544 on March 18, very close to our forecast level of $141. It is pulling back towards the downtrend line, which will act as resistance.

LTC/USD

The LTC/USD pair is not showing any trend formation. The $176 to $186 area will act as stiff overhead resistance.

The moving averages are flattening out, criss crossing each other, which points to a range bound trading for the next few weeks.

We should not risk buying, until we see a specific trend forming.

ADA/BTC

Cardano fell to 0.00001673 on March 18, just below our target of 0.00001690. The RSI is deep in the oversold territory; therefore, a pullback is likely.  

ADA/BTC

Any attempt to rally will face resistance at the downtrend line, which has not been crossed since mid-January of this year. The ADA/BTC pair will attract buyers once it sustains above 0.000025 levels.

We recommend remaining on the sidelines until the trend turns up.

NEO/USD

NEO has been falling from $144.48 (February 28) to $49.04 (March 18). That is a 66 percent fall within a very short span of time. The RSI is also close to the oversold territory – this is why a pullback can’t be ruled out.

NEO/USD

The $86 level will act as stiff resistance on any pullback. If the bulls fail to break out of the horizontal resistance and the 20-day EMA, we can expect a range bound action for the next few days.

If the NEO/USD pair turns down from the resistance and sustains below $50 levels, we can expect further selling to push the cryptocurrency back to $30 levels.

A breakout above $86 will be a bullish move; we might see a rally to $110 levels afterward.     

EOS/USD

We had been expecting a fall to $3.26 levels, but EOS turned up from $3.8723. It is also trying to correct the oversold nature of the RSI.

EOS/USD

The bulls will face stiff resistance at $6 and then at $8 levels. The EOS/USD pair will gain strength once it trades above $8.

If prices turn down from the 20-day EMA, the cryptocurrency can fall to $0.326 levels.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Follow us on: #Altcoin News #Bitcoin Price #Ethereum Price #Bitcoin Cash #Ripple #Stellar #Litecoin #NEM #NEO #EOS Comments

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Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Fundstrat's Thomas Lee believes that Bitcoin mining is an unprofitable venture at current prices. A model developed by his data science team has pegged the breakeven price at $8,038.

If prices fall further, the miners will start to lose money on their operations. Shone Anstey, co-founder and president of Blockchain Intelligence Group opines that this may force a few miners to stop their operations.  

Technical analysts watch the 50-day MA and the 200-day MA closely to forecast the path of least resistance. A death cross, a situation where the short-term moving average falls below the long-term moving average, indicates weakness. Paul Day, a technical analyst and head of futures and options at Market Securities Dubai Ltd believes that if the cross occurs, Bitcoin can sink to $2,800.

It is common to see wild price forecasts on the downside when Bitcoin is falling. We saw similar outrageous forecasts on the upside when the cryptocurrency was rising.

Though we do keep those factors in mind, we should not be worried much by them. Let’s see what our analysis forecasts.

BTC/USD

Bitcoin fell to $8,066.61 levels on March 15. The bulls are trying to defend the $8,000 levels and pullback towards the $9,500 levels.

BTC

The BTC/USD pair remains in a downtrend as prices are trading inside the descending channel and below both moving averages. The 20-day EMA has broken below the 50-day SMA, which is another bearish move.

If prices fail to sustain above the overhead resistance zone of $9,500 to $10,000, the cryptocurrency can fall to $7,850 and after that to the February 06 lows of $6,075.04.

Our bearish view will be invalidated if the bulls manage to sustain above the $10,000 levels.

ETH/USD

Ethereum extended its downtrend as it fell to $568.29 on March 15, close to the February 06 lows of $565.54. This is major support.

ETH

We expect the bulls to attempt a bounce from these levels. The pullback will face selling pressure at the 20-day EMA and the resistance line of the descending channel.

If the bounce fails to gain strength, the next down leg in the ETH/USD pair will break below the $565.54 support and move lower to $500 and then to $430 levels.

Aggressive traders can buy a very small position, about 30 percent of the usual position size at $630, if the level sustains for about four hours. The stop loss can be kept at $560. If the price fails to break out of $700, positions can be closed, else please trail the stops higher.

BCH/USD

Bitcoin Cash fell to $910.6798 levels on March 15. Currently, the bulls are attempting a pullback from the supports.      

BCH

The downtrend line should act as the first level of resistance. Above this, the 20-day EMA and $1,150 will act as resistance. If the cryptocurrency turns down from these levels and breaks below $900, it can slide to $778.2021.

The BCH/USD pair will become positive in the short term once the price sustains above $1,150.     

XRP/USD

Ripple found support at the $0.62681 levels on March 15. We believe that the support zone between $0.695 and $0.5627 will hold.

The bulls are attempting to pull back above the March 15 high of $0.72685. Once this level is crossed, a move to the 20-day EMA is possible where the cryptocurrency will face strong selling pressure.

XPR

During the next decline, if the XRP/USD pair does not break below $0.695, we can expect it to trade in a large range. We may try to trade this, but as we don’t see any buy setup, hence, we don’t recommend any trade on it at the moment.        

XLM/USD

Stellar remains in a downtrend, and it continues to decline gradually. It is close to our first lower target of $0.22.

XLM

If the bulls fail to defend these levels, the XLM/USD pair can slide towards the support line of the descending channel.

We remain bearish on the cryptocurrency until it stays below the 20-day EMA, the downtrend line and $0.32.  

LTC/USD

Litecoin is trying to pull back towards $186.823 levels, where we expect another bout of selling by the bears.

LTC

Both moving averages, the downtrend line and the horizontal line, all converge around $187 levels making it important resistance. If prices turn down from the resistance and break below $157.236, it might fall to $141.

The LTC/USD pair will indicate strength if it can sustain above $187 levels for a day.

ADA/BTC

We expected Cardano to trade in a range, but prices turned down from 0.00002482 levels on March 14 and are now on its way towards the next lower target of 0.00001690.

ADA

It continues to be in a strong bear grip as the cryptocurrency has not even touched the 20-day EMA for more than a month.  

The ADA/BTC pair will become positive once prices break out of the downtrend line and the 20-day EMA. Until then, all attempts to recover will face selling at the resistance.

NEO/USD

The bulls are trying to hold the critical support level of $63.62 on NEO. We can expect a retest of the breakdown level at $86. If the bulls succeed in sustaining above this overhead resistance, it will indicate that the bears are losing strength.

NEO

If prices turn down from $86 levels, we anticipate the next down move to a breakdown of $63.62 and move towards the lower target objective of $49.

We should wait for a confirmed buy setup to initiate a long position on the NEO/USD pair.     

EOS/USD

EOS has been declining gradually for the past few days. It fell to a low of $4.7484 on March 15. We can expect the bulls to attempt a pullback from the current levels, but the 20-day EMA has been acting as strong resistance since end-January of this year. If prices turn down once again from there, a fall to $3.26 is likely.

EOS

If the EOS/USD pair sustains above the $7 levels, we can expect it to rally to the 50-day SMA and then to $10 levels.

Currently, we don’t find any buy setups on the cryptocurrency.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Google has followed Facebook in banning cryptocurrency-related advertising. While this is definitely not good news for ICO campaigns that rely heavily on marketing, this is unlikely to hurt the prospects of the coins backed by strong technical fundamentals.

It won’t influence the already existing coins, because those сryptocurrencies don’t need a marketing team. Bitcoin’s popularity, for instance, continues to grow even as the established players attempt to stifle its rise.

According to Dennis O'Callahan, CBOE’s director for product development, 7,000 contracts of Bitcoin futures change hands on the Chicago Board Options Exchange (CBOE) every day, which has prompted the CBOE to consider the possibility of offering additional cryptocurrencies for trading.

BTC/USD

Bitcoin failed to break out of the descending channel and the moving averages, hence, our suggested buy levels were not triggered.

BTC/USD

The failure of the bulls to first break out of $12,172 and then hold the $9,500 levels is a negative sign. This shows that the bulls are losing strength.

If the BTC/USD pair breaks down of $8,800, it can fall to $7,850 and below this, to the February 06 lows of $6,075.04.

Currently, the bears have the upper hand. The trend will change only after the bulls break out of the moving averages and the channel.

ETH/USD

In the past four days, Ethereum failed to break out of the tight range of $745 to $654. Today, March 14, the bears are attempting to break down of the range.

ETH/USD

If successful, the ETH/USD pair can decline to the next support level of $565.54. Below this, the next support lies at $500. The downtrend is intact as the price continues to trade below both moving averages and inside the descending channel.

Unless the bulls engineer a quick turnaround, the cryptocurrency will continue plunging.

BCH/USD

Bitcoin Cash has been trading inside the range of $1,000 on the downside and $1,150 on the upside for the past six days. The bulls failed to sustain above the $1,150 levels on March 11 and March 12, which shows a lack of buying at higher levels.      

BCH/USD

Today, the bears will try to breakdown of the $1,000 levels. If this support breaks, the BCH/USD pair might fall to the next lower support of $854.

Our bearish view will be invalidated if the cryptocurrency breaks out and sustains above $1,200 levels.

XRP/USD

Ripple did not reach our suggested buy level of $0.85, hence, the trade was not initiated. Today, the price is likely to retest the next lower support of $0.695.  

XRP/USD

If the bulls fail to hold on to this, it can fall to the next support of $0.5627. We expect the bulls to strongly defend these two supports because if they break, the XRP/USD pair can sink to $0.23 levels.

However, if the supports hold, we might see a few days of range bound action. The next few days are critical for Ripple.

XLM/USD

Stellar is under a firm bear grip. The bulls have not been able to reclaim the $0.32 levels, which shows weakness.

XLM/USD

With most cryptocurrencies falling, we expect the XLM/USD pair to also follow suit. The next support on the downside is $0.22, below which a fall to the support line of the descending channel is possible.

Our bearish view will be negated in the short-term if the price breaks out of the downtrend line and the 20-day EMA. Until then, all attempts to rally will face selling at the resistance levels.   

LTC/USD

Litecoin broke below the $180 levels yesterday, March 13. Today, March 14, it has continued its journey southwards.  

LTC/USD

If the price breaks down of $168, a slide to $160 and after that to $141 is plausible. The LTC/USD pair will become positive in the short-term if the bulls break out and sustain above $200 for four hours.

As both moving averages have flattened out, we can expect a range bound action in the cryptocurrency once the decline ends.

ADA/BTC

At least Cardano is not falling like the other cryptocurrencies. It is trying to break out of the overhead resistance at 0.0000246, though there’s lack of conviction.

ADA/BTC

Unless the ADA/BTC pair breaks out with force, it will again turn down from the downtrend line and the 20-day EMA.

We anticipate a few more days of small range days until the sentiment improves in the crypto world.

NEO/USD

NEO has completed a bearish descending triangle pattern with a breakdown of the $86 levels. The bulls will try to hold the next support level of $63.62, but if they fail, a slide to $49 is likely.  

NEO/USD

The bearish targets on the NEO/USD pair will be invalidated if the price breaks out and sustains above $94 levels.     

EOS/USD

EOS is strong compared to the other cryptocurrencies because it has not broken down of its immediate support of $5.166. If this level holds, we can expect a range formation that can be traded.

EOS/USD

However, if the bears force a breakdown of the supports, the EOS/USD pair can sink to the next support level of $3.65.

We will have a better picture in a couple of days.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

By early February, Bitcoin had plunged about 68 percent from its lifetime highs in mid-December. This fall affected Bitcoin’s popularity, as measured by the number of people searching for it on Google. In the first half of March, Google Trends shows that Bitcoin searches have fallen to their lowest levels since October of last year.

It isn’t necessarily a bad thing for the leading cryptocurrency. This shows that the euphoric phase has ended and some investors have fled the market. Now, only the most interested participants who have a greater conviction in the cryptocurrencies remain.  

When prices don’t sustain below support levels on negative news, it is a sign that the bears are losing their grip. The early stages of a bull phase always cause worries. As and when prices recover, the ‘speculators’ will jump right back in.

Let’s see if we find any buy setups for the top coins.

BTC/USD

The bears were unable to take advantage of the breakdown below $9,500 levels on Bitcoin on March 10. Prices quickly recovered on the next day, March 11, which shows strong buying support at lower levels.

BTC/USD

Currently, the  BTC/USD pair is trading at a critical level.

The level between $10,000 to $10,300 has resistances from the moving averages and the resistance line of the descending channel. Once the price breaks out and sustains above $10,300 for four hours, it can be purchased with a stop loss of $8,700.

The first target objective is a rally to $12,150 from where the cryptocurrency has returned on three previous occasions. If prices break out of this resistance, Bitcoin will start a new uptrend.

ETH/USD

$654.02 has proven to be strong support on Ethereum. For the past three days, prices are trading inside a tight range of $745 to $654.

ETH/USD

If the bulls break out of this tight range, the ETH/USD pair might rally to the $800 levels where it will face resistance from the 20-day EMA and the resistance line of the descending channel.

Once these two resistances are crossed, the next resistance will be at $900 from 50-day SMA. The cryptocurrency doesn’t offer a good risk to reward ratio to the swing traders, however, the intraday traders can buy once prices break out of the resistances for a quick profit.

In case of a breakdown of the range, a fall to $565 is likely.

BCH/USD

Bitcoin Cash has held the $1,000 levels for the past three days. Yesterday, March 11, prices broke out of the $1,150 overhead resistance, but the bulls have failed to build on this move.        

BCH/USD

Right now, the BCH/USD pair is facing resistance at the downtrend line. Just above lies the 20-day EMA. The bears will defend the $1,150 to $1,200 zone. Once above it, we might see a move to $1,355, which is major resistance.

On the other hand, if the $1,000 level breaks down, the cryptocurrency can slide to $854.

XRP/USD

Our buy call on Ripple did not trigger because it has held above the $0.73 levels for the past three days.

XRP/USD

We expect the XRP/USD pair to remain range bound for a few days. If the sentiment in the crypto industry improves, a rally to the upper end of the range at $1.22 is possible. Traders can buy on a breakout of $0.85 and keep a stop loss of $0.72. This is a risky trade, hence, please trade with only 50 percent of your usual position size.

If the bears break below $0.73, Ripple can fall to $0.695 and then to $0.5627.        

XLM/USD

The price action in Stellar has been sluggish. The bears have not been able to take advantage of the breakdown below $0.32 levels. While we have been expecting a drop to $0.22 levels, the bulls have successfully defended the $0.25 levels.

XLM/USD

Though the bulls are buying at the lows, they have not been able to push prices above $0.32.

We shall suggest a long trade on the XLM/USD pair once prices sustain above $0.32 levels for a couple of days.   

LTC/USD

Litecoin is also trading in a tight range for the past four days. As the price has reached the apex of the descending triangle pattern, the bearish setup is not valid anymore.

LTC/USD

If the bulls break out of the downtrend line and the 20-day EMA, we can expect the LTC/USD pair to start moving towards $250 levels. Therefore, we recommend buying Litecoin on a close (UTC) above $200. The stop loss for the trade can be kept at $165.

On the other hand, if the price turns down from the present levels and breaks below $180 once again, a decline to $160 can be expected.

ADA/BTC

Cardano continues to trade in a small range as forecast in the previous analysis. As both the bulls and the bears are in a state of equilibrium, there is no trade setup.  

ADA/BTC

One of the parties will exert their dominance within the next few days with a large range move. We should wait for it and then recommend a position.

At the moment, any up move is likely to face resistance at 0.0000246. Above this, the next resistance will be from the downtrend line and the 20-day EMA, which are at about the same level of 0.0000275. Once the ADA/BTC pair breaks out of this, it might start a new trend. Until then, we shall remain on the sidelines.

On the downside, the next support is at 0.00001690.

NEO/USD

NEO is looking weak as the bulls have not been able to push prices above $93.5 level in the past four days. This shows lack of buying.

NEO/USD

Now, if the NEO/USD pair breaks down of the $80 levels, it will complete the descending triangle pattern.

Though the pattern targets are way lower, we need to take it one step at a time. The immediate support is the February 06 lows of $63.62.

We will attempt a long trade if the cryptocurrency sustains above the $100 levels for a couple of days.     

EOS/USD

For the past four days, EOS is struggling to hold the support level. Failure of the bulls to bounce off strong support indicates weakness.

EOS/USD

The bears will now try to break below the supports and push prices towards the $3.65 levels.

A breakdown will invalidate our view of a range formation in the EOS/USD pair.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Wall Street strategist Thomas Lee has formulated a new contrarian index, called the Bitcoin Misery Index, BMI, which can be helpful for traders. Lee is bullish on Bitcoin and has retained a year-end target of $25,000, which results in a gain of more than 160 percent from the current levels.

We believe it’s better to buy only after the cryptocurrencies stop falling because in a bear market people dump their holdings at ridiculous prices. So, let’s check if any of the digital currencies has formed a bottom.

BTC/USD

Bitcoin broke below the critical support of $9,500, yesterday, March 09, and hit an intraday low of $9,000.02, which is just below the 50 percent Fibonacci retracement of the recent pullback from $6,075.04 to $12,172.43.

BTC

The bulls bought the dip and pushed prices back above $9,500. The BTC/USD pair is still not out of the woods because it is still trading inside the descending channel.

If the bulls sustain above the $9,500 levels, a range bound action is likely to ensue where we can expect the bulls and the bears to battle it out between $9,500 and $12,200 levels.

On the contrary, if the bears again break below yesterday’s low of $9,000.02, the price might fall towards 61.8 percent of the $8,404 retracement level.

We would like to see clarity and a support level holding before suggesting any trades.

ETH/USD

Yesterday, Ethereum fell according to our expectation to $637.63, but currently, the bulls are attempting a pullback.  

ETH

The ETH/USD pair is currently in a downtrend as the price is trading inside the descending channel and below both the moving averages. Any rebound from the current levels is likely to face selling pressure at one of these resistance zones.

It is bears’ advantage, until the bulls break out and sustain above these two overhead resistances.

BCH/USD

We have been expecting Bitcoin Cash to correct to $950 levels since our previous two analyses, but the bulls have held on to the $1,000 levels. On March 9, the price rebounded from $989.8418.        

BCH

Within the next couple of days, if the bulls fail to sustain above $1,150, chances are that the bears will attempt to sink the BCH/USD pair towards the next support of $854.

We will change our bearish view once the cryptocurrency rallies above $1,400.   

XRP/USD

We believe that Ripple is forming a large range. Yesterday, March 09, prices fell close to a lower end of the possible range.

XRP

On the downside, the level between $0.56270 and $0.695 is likely to act as strong support. This zone will hold unless there is news that might influence the market.

Traders can buy the dip in the XRP/USD pair towards the $0.60 levels. It is best to wait for prices to stabilize for four hours and then buy on the way up, rather than buy on the way down. The stops can be placed at $0.55.

The target is $1.22. This might turn out to be a roller coaster ride because trading inside the anticipated range will be volatile.        

XLM/USD

Stellar has broken below the $0.32 critical support, but it has not slumped as we had expected.

XLM

Right now the bulls are defending the $0.3 levels, but any pullback will face resistance at $0.32 and the 20-day EMA.

If the bulls fail to sustain above $0.32, the XLM/USD pair can slide towards the lower end of the descending channel at $0.22

We should buy the cryptocurrency if it sustains above the $0.32 levels for a couple of days.  

LTC/USD

Litecoin broke and closed below the descending triangle on March 08, but the bulls quickly pushed the price back above $185 on March 09.

LTC

In case the bulls fail to sustain above $185, chances are that the LTC/USD pair will fall to $160 and then to $140 levels. As both moving averages have flattened out, we might see range-bound trading for a few days. Once we get the levels of the range, we may attempt to trade it.

ADA/BTC

Cardano isn’t looking strong. For the past two days, it has sustained below 0.00002460. The next support lies way lower at 0.00001690.  

ADA

At the moment, the bulls and the bears are in a state of equilibrium. The intraday ranges have shrunk for the past two days. We may see a few days of small ranges; after that, we expect a large range day. It is still difficult to forecast whether the large range day will be on the upside or the downside.

We remain bearish on the ADA/BTC pair as long as it trades below the downtrend line and the 20-day EMA.

NEO/USD

NEO has been under pressure from the bears, who are trying to break below the critical support zone of $86 to $93.

NEO

Yesterday, March 09, the NEO/USD pair fell to an intraday low of $78.92, but it closed above the support of $86.143. If the bulls fail to break above $93.5 levels, the bears will be back in action.

On the downside, the next support is the February 06 lows of $63.62. We may change our bearish view after the price sustains above the downtrend line.     

EOS/USD

Yesterday, EOS fell below the $5.7917 critical level, but it recovered and ended the day above the support level. Nevertheless, if the bulls fail to carry prices towards the $8 levels, there might be a breakdown.

EOS

On the downside, the next support is only at $3.65 levels. However, if the bulls hold the $5.97 levels, the EOS/USD pair is likely to become range bound.

We might start trading in the range once we have confirmation that the $5.97 level is holding.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

News continues to pound the cryptocurrency markets stifling attempts to a recovery. The news of the Binance exchange being hacked and the SEC has requested trading platforms dealing with digital assets to register as exchanges.

Later, Binance reported that the irregular trades were reversed. They also had an interesting observation stating that the hackers had lost a few coins during their attempted hack.

The possible SEC’s regulation is a much-debated issue with both sides having their own opinion about its pros and cons. But regulations have also proven positive for cryptocurrencies, attracting institutional money, which has stayed away from the markets until now.

In another news, the Japanese regulators have come down heavily on Coincheck and six other exchanges. Bogged down by these news, most cryptocurrencies are struggling to hold on to their support levels.

Let’s see if the downside is likely to extend or is a bottom around the corner.

BTC/USD

Bitcoin has failed to cross above the $12,200 on three occasions in the past month and a half. Therefore, this level assumes significance. The cryptocurrency will gain momentum only after it breaks out and sustains above $12,200.

BTC/USD

In the last two days, the BTC/USD pair has broken down of the ascending channel and the two moving averages. Its next major support lies at $9,500. If this level breaks, a fall towards the $8,404 levels is possible, which is the 61.8 percent Fibonacci retracement levels of the pullback from $6,075.04 to $12,172.43 levels.

Both the moving averages have flattened out, therefore, if the $9,500 levels hold, a range bound trading can be expected.

Intraday traders are likely to get an opportunity to play the small bounce at the $9,500 levels, but the swing traders should wait until the cryptocurrency shows sustained buying interest.

ETH/USD

Ethereum has corrected according to our expectation. The $723.48 level is the 61.8 percent Fibonacci retracement level of the recent pullback. Yesterday, March 7, the cryptocurrency fell to a low of $725 from where it bounced.  

ETH/USD

However, the bounce hasn’t been impressive. If the bulls don’t break out of the 20-day EMA and the resistance line of the descending channel within the next few days, the ETH/USD pair is likely to fall to $654 and after that to $565 levels.

The cryptocurrency will become positive when it breaks out of $980 levels.

BCH/USD

Though the bears broke below the support levels of $1,150, they have not been able to sink Bitcoin Cash to $950 levels, as we anticipated.       

BCH/USD

If the bulls are unable to push the BCH/USD pair back above $1,150, within the next couple of days, we might see a fall to $950.

The cryptocurrency remains bearish as long as it trades below the moving averages.   

XRP/USD

Ripple is looking weak. Yesterday, March 7, the bulls recovered from below the $0.85 levels but could not build on the gains.

XRP/USD

As a result, the price has again broken down of the $0.85 level. If the bears succeed in sustaining below this support, there’s a possibility of a fall towards the $0.7 levels.

The lack of buying at lower levels points to a possibility of a further downside in the XRP/USD pair.        

XLM/USD

Stellar is in a downtrend and is not looking strong. It finds it difficult to bounce off the $0.32 critical support level. The bears do not allow it to even cross above the 20-day EMA.

XLM/USD

Today, March 8, the bears have pushed the XLM/USD pair below $0.32. If the breakdown sustains, a fall towards the lower end of the descending channel at $0.22 is likely; where we expect buying to emerge.

On the other hand, if the bulls defend the $0.32 levels, a range bound action between $0.32 to $0.47 should ensue.  

LTC/USD

After showing promise a few days back, Litecoin has become negative. We expected it to fall towards the 50-day SMA and that is what happened.

LTC/USD

The LTC/USD pair has formed a descending triangle pattern, which will complete on a breakdown and close (UTC) below $185. This gives a pattern target of $115 on the downside, though, we can expect some support at $160 and $140.

Our bearish view will be invalidated if the cryptocurrency breaks out of $215.

ADA/BTC

Cardano is in a firm bear grip. Yesterday, March 7, the price broke down of the critical support level of 0.00002460. The selling has continued today and prices are sustaining below the support level. This is a bearish sign.  

ADA/BTC

Now, there is no major support level on the charts, and a fall to 0.00001690 levels is likely. The first sign of a change in trend will be when the ADA/BTC pair breaks out of the downtrend line. Until then, bears have an upper hand.

NEO/USD

March 7, NEO fell to a low of $88.6, where buying emerged. The zone between $86 and $93 is important for the bulls.

NEO/USD

If they fail to hold this support zone, the NEO/USD pair will slump towards the February 6 lows of $63.62.

The cryptocurrency will become positive once it breaks out and sustains above the downtrend line 2.     

EOS/USD

In our previous analysis, we had forecast EOS to retest the February 6 lows, and that is what happened.

EOS/USD

If the bulls fail to hold the $5.97 levels, the next support lies way lower at $3. Our bearish view will be invalidated if the EOS/USD pair climbs and sustains above $8 levels.

Until then, it remains in a downtrend.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Harvard economist Kenneth Rogoff believes that Bitcoin’s value will drop to $100 in a decade. He stated that increased regulation is one of the aspects that will bring down the value of Bitcoin. We, on the other hand, have an opinion that in a decade, the cryptocurrencies will have much more use cases and that it will increase their demand, propelling prices higher.

Bitcoin’s entrepreneurs have taken up the task of rebuilding the Puerto Rico economy that has been hit by natural disaster, and a shortage of funds. This is a new experiment, and in case it succeeds, it will be implemented at many other places.

Additionally, increased involvement of large companies with the crypto world shows their growing acceptance, which is a bullish sign.

BTC/USD

We had been expecting Bitcoin to break out of the neckline of the inverse head and shoulders pattern and move towards the target objective of $13,000. But the bears strongly defended the $12,200 levels.

BTC

Yesterday, Feb.5, the BTC/USD pair reached a high of $11,934.08 but could not break out of the overhead resistance. Currently, the cryptocurrency is pulling back and is likely to find support at the trendline of the ascending channel at $11,100. If this support breaks, the next support lies at the 20-day EMA and below that at the 50-day SMA.  

Therefore, traders can raise their stops to $11,000 on the remaining half-position. Once the price sustains below the channel, we expect it to stay range bound between $9,500 and $12,200.

ETH/USD

We had recommended traders to raise their stops on Ethereum to $830 in our previous analysis, which was hit today, Feb.6. The bulls have failed to break out of the 20-day EMA for the past nine days.

ETH

As the price is below both the 20-day EMA and the 50-day SMA and is turning down from the resistance line of the descending channel, the bears have an upper hand.  

Now, chances are that the bears will push the ETH/USD pair towards the $780 levels. If this level breaks, the next support is at $723.

BCH/USD

We had recommended buying Bitcoin Cash on a breakout above the range, however, the bulls could not push prices above the 20-day EMA and the overhead resistance.       

BCH

Now, the bears are likely to push prices to the lower end of the range at $1,150. If the BCH/USD pair breaks below this support, it is likely to fall to the pattern target of $950.

Our bearish view will be invalidated if the cryptocurrency breaks out of $1,355.   

XRP/USD

In the previous analysis, we were unsure about Ripple’s price action. Yesterday, March 05, the price broke out of the overhead resistance, but it could not clear the 50-day SMA.

XRP

Prices turned down sharply, and the XRP/USD pair is now likely to continue trading in the range once again. If the bears push prices back below the $0.85 level, it can extend its fall to $0.72.

We don’t find any trade setups on it at the moment.        

XLM/USD

Stellar continues to trade in the range because the bears were not able to break down below the $0.32 levels.

XLM

On the upside, the XLM/USD pair is facing resistance from the 20-day EMA. If it breaks down of $0.32, we might observe a fall to the support line of the descending channel at $0.22.

The bulls will continue to face resistance from the 20-day EMA, the 50-day SMA and the upper end of the range.  

LTC/USD

Though Litecoin continues to trade above the 20-day EMA, it has lost its momentum. Both moving averages have flattened out, which points to a range bound action in the next few days. We recommend traders to retain the stop loss at $200, at breakeven.

LTC

Yesterday, March 05, the bulls attempted to break out of the downtrend line, yet, they could not sustain above the line.

The LTC/USD pair is likely to correct towards the 50-day SMA. If this level breaks, a move towards $175 is also possible, where we expect strong buying to emerge.

We should turn bullish if the cryptocurrency sustains above $225.

ADA/BTC

Cardano has been holding above the critical support level of 0.00002460 for the past four days, but a lack of buying at the support level shows that the bulls are not interested in buying even at these levels.  

ADA

If the price breaks down of 0.00002460, it can slide to 0.00001690 levels.

On the upside, the ADA/BTC pair will face resistance at the 20-day EMA and the 50-day SMA.

We need to wait for buying to emerge before recommending a trade on it.

NEO/USD

We expected the $108 levels to provide strong support but we were proven wrong, and NEO broke below our suggested stop loss of $105.

NEO

The NEO/USD pair is now likely to fall to $93.5 levels. The zone between $86 to $93.5 might offer strong support. If it breaks, the cryptocurrency will become negative.

On the other hand, the price will become positive on a sustained move above $140.

EOS/USD

EOS has broken down of the symmetrical triangle, which is a bearish development. Currently, the price is holding at the horizontal support of $7.5.

EOS

If this level also breaks, a retest of the Feb. 06 lows is likely. On the upside, the bulls will face resistance at the 20-day EMA and the 50-day SMA.

We shall turn bullish when the EOS/USD pair breaks out of $10.1190 levels.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Bill Gates, a world-famous businessman and philanthropist and Microsoft corporation principal founder stated in an AMA session on Reddit yesterday, Feb. 27, that cryptocurrencies led to deaths “in a fairly direct way.” And even though crypto investors have become victims of kidnapping and robbery, this still should not overshadow the true potential cryptocurrencies and the blockchain technology can bring to the society.

As our readers might have seen over the past few months, cryptocurrencies should be traded cautiously. If one makes the right decision and trades using the chart patterns, trades can be profitable with a calculated risk.

BTC/USD

In our previous analysis, we had forecast Bitcoin to reach the resistance line of the descending channel at $11,500, after breaking out of the 50-day SMA. Today, the cryptocurrency reached an intraday high of $11,147.99.

BTC/USD

We believe that the zone between $11,400 and $12,200 will act as stiff resistance. Therefore, the aggressive traders should book profits on 50 percent of their positions at the current levels and hold the rest with a trailing stop loss.

A breakout of the $12,200 levels will complete an inverted head and shoulders pattern, which can propel the BTC/USD pair back towards the $18,000 levels.

The bears will gain strength once the digital currency breaks down of $9,400 levels. Until then, it is bulls advantage.

ETH/USD

We had expected Ethereum to break out of the 20-day EMA and rally towards the resistance line of the descending channel. However, for the past two days, the bulls have failed to break out and settle at the moving average.  

ETH/USD

If the ETH/USD pair turns down from the 20-day EMA and breaks below the trendline of the ascending triangle formation, it will be a bearish development. On the downside, $770 to $780 is likely to act as strong support.

Therefore, traders can raise their stops to breakeven on half position and keep the stops at $780 on the other half position. Let’s reduce our risk.

BCH/USD

We still don’t find signs of a recovery for Bitcoin Cash. For the past six days, the price has been stuck in a tight range of $1,150 to $1,355. Both the 20-day EMA and the 50-day SMA are turning down, which shows that the bears have an upper hand.      

BCH/USD

If they succeed in breaking down of the $1,150 support levels, a fall to $854 is likely. On the other hand, if the bulls breakout of $1,355, a move towards $1,600 is likely.

We are not sure whether the next move will be up or down. Therefore, we have provided both possibilities, and we do not recommend any trade on the BCH/USD pair at the moment.   

XRP/USD

We had forecast a range bound trading action in Ripple in our previous analysis and the price action supports our view. However, instead of trading in a large range, the cryptocurrency is stuck inside a very tight range, with resistance on the upside at $0.98669 and support on the downside at $0.85.

XRP/USD

If the bears break below this tight range, a fall to $0.72 is likely. If the bulls break out of the range, a move towards the 50-day SMA is likely. Until then, the XRP/USD pair is likely to remain range bound.        

XLM/USD

Stellar is struggling to move up. This shows lack of buying even at the current levels. When the price fails to bounce off strong support levels, it is a sign of weakness.

XLM/USD

Both the moving averages have also turned down, which shows that the bears are in command. If the XLM/USD pair breaks down of the $0.32 support, a fall towards the $0.22 levels is likely.

On the upside, the bulls will face resistance at the 20-day EMA and the 50-day SMA. We remain neutral to bearish on the cryptocurrency as long as it trades below $0.48.  

LTC/USD

Litecoin went down from the overhead resistance of $240 on Feb. 26. Currently, it is trading close to the 20-day EMA, which should provide support.

LTC/USD

We like the LTC/USD pair because the moving averages have completed a bullish crossover and the 20-day EMA is above the 50-day SMA, which is a positive sign.

But if the cryptocurrency breaks down of the 20-day EMA, it can fall to the 50-day SMA. We shall retain our stop loss at breakeven because we don’t want to carry a risk when the overall sentiment is bearish.

On the upside, Litecoin will gain momentum above $240. Our target objective remains a rally to $270 and $300.

ADA/BTC

We had suggested closing our aggressive long positions for Cardano in our previous analysis, and it turned out to be the right decision.

ADA/BTC

The ADA/BTC pair has broken down of the 0.000030 levels and is on its way towards the next support level of 0.0000246.

The only silver lining is that the RSI is showing signs of positive divergence. However, we shall not venture to buy it until the price climbs above the 20-day EMA and the downtrend line.

NEO/USD

Traders who follow us are long on NEO at $126 levels, as recommended. Yesterday, Feb.27, the currency broke out of the critical overhead resistance at $140, but it did not sustain the breakout.     

NEO/USD

We continue to put our trust in the NEO/USD pair because it has broken out of a bearish pattern and is sustaining above both the 20-day EMA and the 50-day SMA.

Our target objective on the upside remains a rally to $170. The stop loss can be retained at $105 for now. Traders can raise the stop loss to breakeven as soon as the cryptocurrency climbs above $150.

EOS/USD

EOS broke out of the downtrend line yesterday, Feb. 27, but could not climb above the 20-day EMA. It has formed a symmetrical triangle. The next leg of the uptrend or downtrend will start once the price breaks out or breaks down of the triangle.   

EOS/USD

If the EOS/USD pair breaks down of the $7.5 levels, a retest of the Feb. 06 lows, $5.7917, is likely; though the pattern target is way lower.

On the other hand, a breakout of the symmetrical triangle will push the price towards $10.119 levels. We only should turn bullish on it after it sustains above the 50-day SMA.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Goldman Sachs funded, Circle, a cryptocurrency-focused financial-services firm, has purchased the US-based cryptocurrency exchange Poloniex for $400 million. This shows that large financial institutions are looking for opportunities to grow business in the crypto world. This move, while prices have been in a downswing, might boost positive sentiment.

While a number of nations are looking at ways to regulate crypto trading, the Venezuelan government believes that cryptocurrency is an easy way out of its troubles. After the launch of its oil-backed cryptocurrency, Petro, the government has started free cryptocurrency trading courses for its citizens.

Still, the success of the Petro is a big question mark for the future.

Meanwhile, let’s look at the top cryptocurrencies and see if we can find any profitable trading opportunities.

BTC/USD

In our previous analysis, we had suggested long positions for the aggressive traders in Bitcoin, but it did not move according to our expectation. It turned down from $10,770.23 on Feb. 24 and fell to a low of $9,502.25 yesterday, Feb. 25, but remained above our suggested stop loss of $9,400. The bears were not able to capitalize on the weakness and break below the critical support.

BTC/USD

Today, the bulls have seized the opportunity and have broken out of the downtrend line and the 20-day EMA, which is a bullish sign. They have one more major hurdle in the way of the 50-day SMA at $10,745. Once the price breaks out of the $10,745 to $10,770 resistance zone, it should move towards the resistance line of the descending channel at $11,500.

There is no change to our recommended stop loss of $9,400, but if the traders find that the cryptocurrency is unable to break out of $10,700, they can raise the stops to breakeven. Let’s play it safe.      

The BTC/USD pair will be out of the woods once it clears the $12,200 mark. We also see an inverted head and shoulders pattern forming, which should complete in a few days. If this happens, it will indicate a change in trend and traders can expect higher levels.

Our bullish view will be invalidated if the bears break down below $9,400 levels.

ETH/USD

Traders who follow us would have entered long positions in Ethereum around the $830 mark, as suggested in our previous analysis.  

ETH/USD

Currently, the price is at the 20-day EMA, which may offer strong resistance. But we like the way the ETH/USD pair sustained above the $808 mark on the previous two days, Feb. 24 and Feb. 25, and did not challenge the lows formed on Feb. 22 and Feb. 23. This shows that demand is at higher levels.

Once Ethereum breaks out of the 20-day EMA, it is likely to rally to the resistance line of the descending channel close to the $965 mark.

We find an ascending triangle developing, which will complete on a breakout and close above the $1,000 levels. This is a bullish sign. Therefore, traders can book partial profits at $965 and trail the rest with a suitable stop loss to ride the next up move.

But if the price breaks down to $780 levels, our bullish view will be proved wrong.

BCH/USD

We don’t find any buying interest in Bitcoin Cash at the moment. It is struggling to stay above the critical support level of $1,150.       

BCH/USD

Any recovery attempt will face resistance at the 20-day EMA and the 50-day SMA. The BCH/USD pair will show first signs of strength once it stays above $1,600 levels.

Currently, we don’t find any buy setup, and that’s why we don’t recommend any trade on it.   

XRP/USD

The bulls have defended the $0.85 levels for the past five days. Ripple can now remain range bound between $0.85 and $1.22961 for the next few days.

XRP/USD

The next leg up will start once the XRP/USD pair breaks out of the range and the 50-day SMA at $1.23. Until then, price action will most likely remain range bound and volatile.

We don’t find any buy setups inside the range; hence, no recommendation on trade so far.        

XLM/USD

The bulls have hung on to the critical support zone of $0.32 to $0.35 for the past few days. But they have not been able to push prices higher. As a result, Stellar continues to languish near its recent lows.

XLM/USD

If the bears succeed in breaking down below $0.32, it may push the XLM/USD pair towards $0.22 levels.

However, if the bulls assert their supremacy, a range bound trading between $0.32 to $0.47 is likely to ensue. We are not certain about the next price move; therefore, we have provided our view on both possibilities to the traders.  

LTC/USD

We had recommended traders to build long positions on Litecoin close to the $200 mark with a target objective of $240 and $260. We assume traders would have entered long positions on Feb. 24.

LTC/USD

For the past four days, the LTC/USD pair has been facing stiff resistance at the trendline. Currently, $240 is a critical resistance level; we can see a move to $270 and higher from there.

Traders can hold their positions and trail their stops higher to break even. We think it’s better to wait and not lose money on the trade.

The target objective on the upside is a rally to $270 where 50 percent positions can be closed. Remaining positions can be carried with a trailing stop loss with a target objective of $300.

Our bullish view will be invalidated if the cryptocurrency breaks below $175.

ADA/BTC

We had suggested a short-term trade on Cardano in our previous analysis. Though the price broke out of 0.000033, yesterday, Feb. 25, it never reached our target objective of 0.00004070. It turned down from 0.00003520 levels. Traders can close their positions at the current levels with a marginal loss.

ADA/BTC

The ADA/BTC pair continues to be weak as it is below both the 20-day EMA and the 50-day SMA. If the price breaks down of 0.00003033, it can slide to the next support level of 0.0000246.

On the upside, the zone between the 20-day EMA and 0.00004070 is likely to act as stiff resistance.

NEO/USD

Today, NEO has broken out of a slew of resistances. It has also triggered our buy level, recommended in the previous analysis. Traders who have entered long positions on our suggestion can keep their stop loss at $105.   

NEO/USD

A failure of a bearish pattern – a descending triangle pattern in this case – is a bullish sign. On the upside, $140 is critical resistance; the NEO/USD pair should quickly rally to $170 levels above this level.

On the downside, the cryptocurrency might find support at $120 levels.

EOS/USD

EOS has held on to its critical support of $7.5 for the past five days. Though it had formed a bearish descending triangle pattern, it did not break down of it, and the price has reached the apex of the triangle. The pattern now stands invalidated.  

EOS/USD

If the EOS/USD pair breaks out of the downtrend line and the 20-day EMA, it is likely to reach the 50-day SMA. We don’t find any reliable setups on it. Hence, we can’t recommend any trade on it.

We’ll turn positive on it once it starts to trade above $11 levels.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Sanction-hit Venezuela started the pre-sale of its oil backed cryptocurrency Petro on Feb. 20. Just a day later, President Nicolas Maduro’s twitter handle reported raising $735 million. The Venezuelan government plans to raise a total of $6 billion through the sale of 100 Million Petros.

Iran, which is also facing US sanctions is also considering developing its own cryptocurrency.

If these nations successfully bypass the effects of sanctions using cryptocurrencies, this might lead to some strong steps by the regulators in the developed nations led by the US.

Despite this and a few other small issues that can be handled, cryptocurrencies offer a huge opportunity that is attracting the traditional investors. Bitwise Asset Management Vice President of Research and Development Matt Hougan is one such investor who is dumping the ETF industry to go all in on cryptocurrencies.  

BTC/USD

In our previous analysis, we had forecast that if Bitcoin breaks the support line of the ascending channel, it can fall to $9,500 levels and that is what happened. Today, Feb.23, the price hit a low of $9,736.32.

BTC

The bounce from the critical support level is encouraging. This shows that the market participants are keen to buy on dips. The first test for the bulls will be the $11,200 mark where the rally is likely to face resistance from the 50-day SMA and the support line of the ascending channel.

If this level is crossed, the final litmus test will be $12,200 level. Above it, the BTC/USD pair will become positive.

Aggressive traders can use dips to $10,300 to initiate long positions with a stop loss of $9,400. 50 percent of the positions can be closed if the cryptocurrency struggles to break out of $11,200. Remaining positions can be held with a suitable stop loss for a rally to $12,000. This is a risky trade, hence, should be attempted with less than 50 percent of the usual position size.

The bears will gain strength only if they are able to sink Bitcoin below $9,500 levels.     

ETH/USD

Our expectations of a fall to $780 levels on Ethereum also turned out to be correct. Today, Feb. 23, it hit a low of $787.

ETH

The move from the critical support levels has been encouraging, but the ETH/USD pair is likely to face stiff resistance at the 20-day EMA and the 50-day SMA.

The aggressive traders can use dips to $850 to $830 levels to initiate long positions with a stop loss of $770. Though the target objective is $1,000, traders should closely watch the price action at the $900 mark.

If the cryptocurrency struggles to break out of the resistance, the stops should be raised to breakeven, and 50 percent of the positions should be closed.

This is a risky trade and therefore should only be considered with less than 50 percent of the usual position size.

BCH/USD

Bitcoin Cash also fell according to our expectation. It broke below $1,200 and fell to an intraday low of $1,168.3636.      

BCH

The bulls are trying to defend the critical support level of $1,150. If this level breaks, a fall to $854 is likely.

A bounce from the current level will face resistance at $1,400 from the 20-day EMA and above it at $1,680 levels from the 50-day SMA and the trendline.

The BCH/USD pair has been an underperformer in the past few weeks, so we should stick to trading the stronger cryptocurrencies.   

XRP/USD

Ripple broke below our stop loss of $0.95 and hit an intraday low of $0.85112. The $0.87 level is critical support. Below this line, we might see a retest of the lows.

XPR

Any attempt to bounce from the current levels will face resistance at the 20-day EMA and at $1.22961 levels.

Unless the XRP/USD pair breaks out of these two resistances, it remains vulnerable to bear attacks. Another possibility is that the cryptocurrency will consolidate in the range of $0.87 to $1.23 for a few days. We, currently, don’t find any buy setups on it.         

XLM/USD

Yesterday, Feb. 22, our stop loss on Stellar was hit as it closed at $0.34884075 (UTC). The bulls are aiming to defend the support zone between $0.30 to $0.35.

XLM

If the XLM/USD pair re-enters the channel, it will be a bearish development. On the upside, the bulls are likely to face strong resistance at $0.41, the 20-day EMA, and at the 50-day SMA.

We need to turn bullish and look for buying opportunities on a breakout above the $0.48 levels. Until then, it’s better to remain on the sidelines.  

LTC/USD

Litecoin hit our trailing stop loss of $210 on Feb. 22. Today, Feb.23, it fell to an intraday low of $184.577.

LTC

However, as mentioned in our previous analysis, the LTC/USD pair is one of the strongest cryptocurrencies. It continues to trade above both the 20-day EMA and the 50-day SMA, and both are forming a bullish crossover, which means positive development.

The current bounce is likely to face resistance at the trendline. Any fall towards the $200 mark should be used as an opportunity to build long positions with a $170 stop loss. On the upside, if the cryptocurrency breaks above the trendline resistance, it can rally to $240 and then to $260.

ADA/BTC

As the RSI is in oversold territory, we had forecast a possibility of a bounce in our previous analysis. Our expectation proved wrong, and Cardano remained stuck in a tight range for the past two days.

ADA

If the ADA/BTC pair breaks down of 0.00003033, it is likely to extend its decline towards the next support of 0.0000246.

Yet, if 0.00003033 holds, a pullback towards 0.00004070 might take place. Aggressive short-term traders can attempt this trade by initiating long positions once the cryptocurrency breaks out of 0.000033 levels, but please keep the position size less than 50 percent of usual.

NEO/USD

NEO broke below the critical support of $120 and fell to an intraday low of $107.97, today, Feb. 23. However, the bulls aggressively purchased the dip, and the cryptocurrency is showing signs of recovery.   

NEO

There is stiff resistance at $120 from the 20-day EMA and the horizontal line. Above this, the 50-day SMA and the downtrend line at about $125 levels are likely to act as another strong resistance.

Once the NEO/USD pair breaks out of the $120-$126 resistance zone, it is possible to become positive and rally towards $140 and to $170 after that.

If the cryptocurrency fails to break out above the resistance zone, it might fall to $100 levels.

Traders can enter long positions once the price sustains above $126 levels for four hours.

EOS/USD

EOS continues to trade inside the bearish descending triangle pattern, which will complete on a breakdown below $7.5 levels.

EOS

The EOS/USD pair has taken support close to $7.5 levels both yesterday, Feb. 22 and today, Feb. 23. If this level breaks, a fall to $5.7917 and then to $3.4 is likely.

Our bearish view will be invalidated if the cryptocurrency pair breaks out of the resistance line of the descending triangle and the 20-day EMA at $9.27.

The cryptocurrency will turn positive once it starts to trade above $9.5. Until then, it remains weak.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

The financial world seems not to have made up its mind yet about cryptocurrencies.

Paul Singer, founder of investment management firm Elliott Management called cryptos “one of the most brilliant scams in history” whereas Tim Draper, a prominent venture capital investor, has held on to his Bitcoin, and, when asked if he is going to sell them, said: “Why would I sell the future for the past”.

Meanwhile major exchanges Coinbase and Bitfinex are aiming to implement the Segregated Witness (SegWit) scalability upgrade into their systems, which will significantly cut fees and transaction time for the users.

Will this news turn out to be bullish for Bitcoin and the other top digital currencies? Let’s find out.

BTC/USD

Yesterday, February 20, Bitcoin reached our second target objective when it met the resistance line of the descending channel. Traders following us should have sold out their positions around $12,000. What should they do now?

BTC/USD

The BTC/USD pair has almost doubled from its recent lows, therefore some profit booking is to be expected at the current levels. However, it remains bullish as long as it trades inside the ascending channel.

If the bears break down below the support line of the ascending channel, a fall towards the 20-day EMA at $10,000 and below that to the horizontal support line at $9,500 is possible.

Our bearish view will be invalidated if the cryptocurrency breaks out of $12,200 and rallies towards $13,000.    

ETH/USD

The stop loss suggested by us in our previous analysis triggered yesterday, February 20. Ethereum has now broken below the 20-day EMA, which is a bearish sign.

ETH/USD

On the downside, we expect the ETH/USD pair to fall to between $780 and $772 levels, which is a strong support zone.

Our bearish view will be invalidated if the bulls push the digital currency back above the 20-day EMA, towards $1,000 levels. However, the probability of such a rally is low.

BCH/USD

Our recommended stop loss of $1,400 triggered today, February 21. Bitcoin Cash has not performed according to expectations. It failed to gain momentum and move towards the 50-day SMA.      

BCH/USD

The bears have broken below the 20-day EMA, which is a bearish sign. There is one final support at $1,350. If this support breaks, the BCH/USD pair can correct towards $1,200 levels once again.

Our view will be negated if the bulls break out of the trendline and move up to $1,600.   

XRP/USD

After trading in a tight range from February 15 to 19, Ripple broke down of this range yesterday, February 20.. It has also fallen below the 20-day EMA; this indicates weakness. Our suggested stop loss of $0.95 has not yet been breached. But unless the bulls quickly climb above the 20-day EMA, a fall to $0.87 is likely.

XRP/USD

The XRP/USD pair will gain strength only if it breaks out and sustains above $1.23. We expect the cryptocurrency to remain range bound between $0.87 and $1.2 over the next few days.         

XLM/USD

Stellar has turned down and has broken below the critical support of $0.41. Currently, it is taking support at the channel line; unless it breaks above $0.41 quickly, it might turn negative.

XLM/USD

Our stop loss is way lower at $0.30. As most top coins are showing weakness, we should raise the stop loss on the XLM/USD pair to $0.35 on a daily closing basis (UTC).

If the cryptocurrency again enters the channel, it will mean bearish development, and this will raise the chances of a breakdown below $0.30 levels.  

LTC/USD

We had previously anticipated a rally to $270, but Litecoin could only touch the $256.818 levels yesterday, February 20. Higher levels attracted profit booking, resulting in a pullback.

LTC/USD

The LTC/USD pair is stronger compared to the other top coins as it is trading above both the 20-day EMA and the 50-day EMA. The moving averages are also forming a bullish crossover, which is another positive sign.

The price might find support at the trendline, around the $214 mark. Nevertheless, if all the cryptocurrencies fall, Litecoin positions will not be damaged. Therefore, we recommend raising the stop loss on the remaining position to $210.

The digital currency will gain momentum if it reverses direction and sustains above $240.

ADA/BTC

Our bearish view on Cardano has played out according to our forecast. The cryptocurrency has been falling for almost 10 days. This has pushed the RSI into oversold territory and also increases the possibility of a pullback to the overhead resistance level of $0.00004070.

ADA/BTC

The falling 20-day EMA is also close to this level. We won’t be surprised to see the ADA/BTC attempting to rise in the next couple of days. However, the trend remains down and we expect the price to fall to the next support level of $0.0000246.

NEO/USD

The bulls tried to break out of the descending triangle pattern on February 19 and 20, but were unsuccessful in settling at higher levels. NEO reversed direction yesterday, February 20 and reentered the descending triangle.   

NEO/USD

Today, the NEO/USD pair is trying to hold on to the critical support of the moving averages and $120.33. If this support zone breaks, a fall to $100 is likely.

We will turn bullish if the cryptocurrency breaks out and sustains above $140.

EOS/USD

EOS did not reach our buy levels of $11. It turned down from the downtrend line and the 20-day EMA, which is a bearish sign.

EOS/USD

The EOS/USD pair has support at $7.91. If this support breaks, the price might fall to $7. On the upside, a breakout above $10.50 will indicate a possible shift in trend.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

After failing to stem the rising popularity of cryptocurrencies through their warnings, the central banks have stooped down to funding anti-crypto campaigns. This move will only reduce the confidence in the central banks and encourage new investors to enter the crypto world.

At the same time, the Venezuelan government is planning to launch a new cryptocurrency called the petro. Each new coin will supposedly be backed by one barrel of oil. However, there is a big question on the central bank’s credibility that is issuing the petro. Analysts believe that the petro is most likely to end up not bringing the expected results.

On the other hand, Bitcoin continues to attract big-ticket investments. After the recent fall, there are reports of a trader buying about $400 million worth of Bitcoin between Feb. 09 to Feb. 12.

People are gradually turning positive on Bitcoin once again. Shark Tank’s Robert Herjavec believes that Bitcoin will top its 2017 mid-December high of about $20,000 in the short-term.

Let’s see what does the chart pattern forecast?

BTC/USD

Traders who follow us are carrying long positions that triggered on Feb. 15. We had recommended booking 50 percent profits at the 50-day SMA, and most traders should have sold when Bitcoin rallied to an intraday high of $11,348.99, yesterday, Feb.18.

We had also recommended trailing the remaining positions with a suitable stop loss. As every trader has a different trading strategy, we did not provide any specific trailing stop loss.

BTC/USDThe BTC/USD pair is trading inside an ascending channel. As long as it trades above the support line of the channel, it can reach $12,000 levels.

In case of a fall, the support line of the ascending channel and the 20-day EMA will be acting as strong support. If these two levels break, the price might fall to $8,400. Therefore, traders who are still left with 50 percent positions should keep the stop loss at $9,800.

We did not recommend closing the complete position because Bitcoin will become positive once it sustains above the descending channel.    

ETH/USD

Ethereum rallied close to the 50-day SMA yesterday, Feb. 18, reaching an intraday high of $979, close to our target objective of $1,000. Hope traders would have book profits on 50% positions.

ETH/USDFor the past four days, the ETH/USD pair has been taking support at $900 levels. Therefore, we recommend raising the stop loss on the remaining position from $775 to $900. The target objective is a move to the resistance line of the descending channel.

If the bulls succeed in breaking out of the channel, a move to $1,200 is likely. On the other hand, if the bears break down below $900, there might be a fall to $780 levels.

BCH/USD

Our target objective on Bitcoin Cash was a rally to the 50-day SMA, close to $1,800 levels, however, yesterday, Feb.18, it turned down from $1,639.251 levels.     

BCH/USDOur initial stop loss was placed at $1,100. We want to raise this stop loss to $1,400 because if most cryptocurrencies turn down from their resistances, the BCH/USD pair might follow suit.

So let’s not lose money on it.

On the upside, please book partial profits above $1,750 and hold the rest with a trailing stop loss for a target objective of $2,000.  

XRP/USD

Contrary to our expectation, Ripple continues to trade in a tight range. It has not participated in the pullback like the other top cryptocurrencies. The only consolation is that it is sustaining above the 20-day EMA for the past four days.

XRP/USD

We had suggested an initial stop loss of $0.86, but we should raise this stop higher because if the top currencies turn down, the XRP/USD pair will also fall sharply. Please raise the stops on the complete position to $0.95.

If the tight range resolves on the upside, please book profits on 50 percent position at $1.45. Trail the remaining position for a second target objective of $1.74.         

XLM/USD

Stellar also has been stuck in a tight range for the past four days. It is trading close to our suggested buy levels of $0.45.

XLM/USD

We anticipate a move to the upper end of the range at $0.63. But for that, the XLM/USD pair will have to break out of the 50-day SMA.

On the downside, supports lie at the 20-day EMA, the horizontal line at $0.41, and the channel line at $0.38.

For now, please maintain the stop loss at $0.30 on a daily closing basis (as per UTC). We need to consider raising it in a couple of days.

LTC/USD

In our previous analysis, we had recommended to book profits on 50 percent positions at $240, and Litecoin reached an intraday high of $239.5 on Feb. 16. We hope that the traders would have sold half of their positions established at $180.

LTC/USD

For the past four days, the LTC/USD pair has been trading in a range of about $208 to $240. A breakout of this range will be a positive move, and we anticipate a rally to $270 and then to $307.

Our stop loss is currently at breakeven. We want to reduce our risk and pocket some of the paper profits. That’s why we should raise the stops on the remaining 50 percent long positions to $200.

ADA/BTC

We have been bearish on Cardano for the past few days because it has broken down of the bearish descending triangle pattern. Though a pullback to the breakdown levels of 0.00004070 is possible, the cryptocurrency remains negative as long as it trades below the downtrend line of the descending triangle.

ADA/BTC

The ADA/BTC pair is likely to slide to the next support level of 0.0000246. Our bearish view will be invalidated if the digital currency breaks out of the downtrend line, because a failure of a bearish pattern is a bullish sign.

NEO/USD

As NEO is trading inside a descending triangle pattern, we had recommended a quick trade with a long at $121 and a target objective of a rally to the downtrend line of the descending triangle pattern.   

NEO/USD

The NEO/USD pair reached our target objective on Feb. 17, reaching a high of $138.35, where the traders must have closed their positions.

An attempt by the bears to sink the cryptocurrency failed Feb. 18. It is currently trying to break out of the downtrend line of the descending triangle, which will invalidate the bearish pattern. If the bulls sustain the breakout, we might see a rally to $169.

On the downside, the moving averages and the horizontal line at $120.33 might act as strong support.

EOS/USD

As expected, EOS turned down from the downtrend line yesterday, Feb. 18. The 20-day EMA is at $9.76, and the 50-day SMA is at $10.8.

EOS/USD

We believe that the bulls will face stiff resistance in the zone of $9.76 to $10.8. Therefore, traders can initiate long positions above $11, if the EOS/USD pair sustains the level for four hours. The target objective on the upside is a rally to $15 levels.

The stop loss can be placed at $8.8.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

After a massive sell-off earlier this year, the cryptocurrencies are trying to pull back. Among the top coins, Litecoin has garnered all the attention with favorable news and an upcoming fork on Feb. 18.

At the same time, Western Union, one of the oldest money transfer companies, has confirmed it is testing Ripple’s Blockchain-based settlement system.

George Soros, who had earlier referred to cryptocurrencies as a “typical bubble” has invested in Overstock, through his investment fund. Overstock is one of the most pro-cryptocurrencies businesses, and its stock price has appreciated immensely as the cryptocurrencies skyrocketed.

This shows that the mainstream businesses are slowly recognizing the value of blockchain technology.

However, a few old-timers are still skeptical of cryptocurrencies and the latest to voice his opinion is Berkshire Hathaway vice chairman Charlie Munger, who called Bitcoin “totally asinine.”

Nevertheless, as traders, if an asset class offers us an opportunity, we take it. Let’s see if we find some interesting plays today.  

BTC/USD

Our recommendation of a long position in Bitcoin triggered on Feb. 15. Traders, who follow us, would have entered their positions between $9,500 and $9,700. We had anticipated that once the cryptocurrency broke out of the overhead resistance, it would rally towards the 50-day SMA. But the price action above $9,500 has not been encouraging.  

BTC

We prefer breakouts that quickly gain momentum once they clear a resistance area. In this case, the BTC/USD pair is facing selling pressure at the resistance line, as shown in the chart.

If the cryptocurrency holds the $9,500 levels and breaks out of the resistance line, it is likely to continue trading inside the ascending channel and reach the 50-day SMA, where traders can book profits on 50 percent of their positions and hold the rest with a trailing stop loss for a target of about $12,500.

Bitcoin is at risk of a bear attack as long as it trades inside the descending channel. Therefore, we want to reduce our risk. We recommend raising the stop loss on 50 percent positions to $8,600 and keeping the rest at the previously mentioned level of $7,800.    

ETH/USD

Ethereum triggered our buy levels on Feb.14. But, it also has failed to extend its pullback. It entered a small range day yesterday, Feb. 15, and is following it up with another short range day today, Feb.16.  

ETH

While the ETH/USD pair has not given up any ground, it has struggled to move up. Our first target objective was a move to the 50-day SMA, currently close to the $1,000 mark followed by a rally to $1,050 levels.

The stop loss remains at $775, because we don’t find any higher logical stop loss level.

BCH/USD

Bitcoin Cash has broken out of the resistance zone and has triggered our buy levels of $1,400 today. We now expect a rally to the 50-day SMA at $1,818, followed by a move to $2,000.    

BCH

Breaking out of the long-term downtrend line and the 20-day EMA is a bullish sign. But if the other cryptocurrencies turn down, the BCH/USD pair may also find it difficult to rally.

Therefore, we retain the stop loss at $1,100, below which a fall to $854 is likely.  

XRP/USD

Ripple rose above our suggested buy level on Feb. 14. Despite our opinion, it has again entered into a tight range since Feb.15.

XPR

As the XRP/USD pair continues to trade above the 20-day EMA, we expect it to gain momentum and quickly rally to $1.5 levels, where traders can book profits on 50 percent positions. The remaining stops can be trailed for a higher target objective of $1.74.

Our bullish view will be invalidated if the cryptocurrency falls below the stop loss of $0.86.         

XLM/USD

Stellar broke out of the descending channel and triggered our buy level at $0.45. As the markets have rejected the break below $0.41, we expect a move to the overhead resistance level of $0.63.

XLM

As long as the XLM/USD pair sustains above the 20-day EMA and the $0.41 levels, a rally towards $0.63 is likely.

Hence, we recommend holding the position with the suggested stop loss of $0.30 on a daily closing basis (as per UTC).

LTC/USD

Yesterday, Feb. 15, Litecoin continued its up move, breaking out of the small overhead resistance at $214.483. Our readers are long from the $180 levels. We had forecast a rally to $242, and yesterday, the cryptocurrency reached $239.705 levels, very close to our target objective.

LTC

We believe that as long as the LTC/USD pair stays above $214.483 levels, it is on target to reach $242. Once above this, a move to $270 and, after that, to $307 is likely.

So, traders should book 50 percent profits at $240 and keep a trailing stop loss on the remaining position.

For now, we suggest raising the stop loss to break even. Let’s not lose any money on the trade.

ADA/BTC

Cardano has completed a breakdown from the bearish descending triangle pattern. It has one final support at 0.00003700, below which, a fall to 0.0000246 is likely.  

ADA

The ADA/BTC pair remains negative as long as it trades below the overhead resistance of 0.00004070.

We should turn positive on the cryptocurrency if it breaks out of the downtrend line of the descending triangle.   

NEO/USD

Our long position on NEO at $121, suggested in the previous analysis was triggered on Feb. 14.   

NEO

Yesterday, Feb. 15, efforts by the bears to push the NEO/USD pair back below the support of $120.33 failed. This shows that the bulls are providing support at lower levels.

Our target objective is a move to the downtrend line of the descending triangle. We recommend raising the stop loss from $100 to $107. We don’t want to hang on to the trade if it falls below $120.33 levels.

EOS/USD

EOS is currently facing resistance from the 20-day EMA. Above this, it is again likely to face resistance from the downtrend line. Just above the downtrend line lies the 50-day SMA.

EOS

As there is a confluence of resistance in the $9.8 to $10.7 zone, we are not suggesting any trade. We should buy once the EOS/USD pair breaks out of this resistance zone.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Regulators around the world are trying to stifle the popularity of cryptocurrencies. But every time they do this, the crypto world bounces back bigger and stronger than ever before.

Jesse Powell, founder and CEO of Kraken, believes that the market capitalization of cryptocurrencies will more than double from the current levels and reach the $1 trillion USD milestone by the end of the year.

However, as the market matures, it will start differentiating between cryptocurrencies. Ripple’s CEO, Brad Garlinghouse believes that many will sink to zero because they don’t have anything worthwhile to offer.

But is there no way to stop the pump and dump that is the usual feature in some of the smaller coins?

Lon Wong, president of NEM, believes that nothing much can be done about price manipulation until the market matures.

As traders, we always keep a protective stop loss to safeguard our capital and because the crypto markets are open 24/7, the risks of a gap down opening are nonexistent. So, our readers need not worry even if prices of a few cryptocurrencies drop to zero.

Let’s see if we find bullish setups on any of the top 9 coins.

BTC/USD

Bitcoin is attempting to extend its recovery, but it is likely to face a strong resistance from the current levels to the $9,500 mark, from the downtrend line, the 20-day EMA and the horizontal resistance.  

BTC/USD

There are two possibilities – the price will either break out or turn down from here. Do we know for sure which one will happen? No. So, we should be ready for both scenarios.

If the BTC/USD pair breaks out of $9,500 and sustains for four hours, it confirms a breakout and we recommend long positions with a stop loss of $7,800. Our first target is a move to the 50-day SMA, which currently is at about $11,780. Above this, we might see a move to the resistance line of the descending channel.

Secondly, if the price turns down from $9,500 and breaks below $7,800, a slide to $7,000 is likely.

As we don’t have a confirmation of a bottom yet, it is recommended to keep the position size only 50 percent of usual.    

ETH/USD

Ethereum formed an inside day candlestick pattern yesterday, February 13. Today, it is trying to extend the pullback.  

ETH/USD

The recovery looks strong as the ETH/USD pair has not given up much ground since bottoming out on February 6, at $565.54.

Overhead resistance is at the 20-day EMA at $902 and the 50-day SMA at $985, whereas support is at $775.

Aggressive traders can initiate long positions once the price sustains above $902 for four hours. The positions should be closed at the 50-day SMA, if the cryptocurrency struggles to break out of it, else a move to the resistance line of the descending channel, around the $1,050 to $1,100 mark might happen.

BCH/USD

Since the large range move on February 8, Bitcoin Cash has been trading in a small range. As most cryptocurrencies are showing signs of a recovery, we expect this consolidation to resolve on the upside.    

BCH/USD

The BCH/USD pair has a history of vertical rallies. Therefore, we want to take this trade. Currently, the price has broken out of the downtrend line and the descending channel, but it is yet to clear the 20-day EMA, which is at $1,351.

We recommend a buy at $1,400. The up move can extend to the 50-day SMA at $1,860 and thereafter to $2,000. The stop loss for the trade can be kept at $1,100.  

XRP/USD

Ripple has been trading in a tight range for the past four days. It is currently facing resistance at the 20-day EMA. If it breaks out of this, we expect it to gain momentum.

XRP/USD

Therefore, we had recommended a long position on the XRP/USD pair in our previous analysis.

We reiterate our buy call because with most of the cryptocurrencies moving up, we believe that a rally to $1.50 and thereafter to $1.74 is possible. However, we recommend buying only after the digital currency sustains above $1.08 levels for four hours.

Our bullish view will be invalidated if the digital currency breaks down of $0.86.         

XLM/USD

Stellar is also showing signs of a change in trend. It has broken out of the overhead resistance at $0.41 and is currently at the resistance line of the descending channel.

XLM/USD

Once the price sustains above the channel, it will signal a change in trend and a move to $0.63 is likely. We recommend a long position on the XLM/USD pair at $0.45 with a stop loss at $0.30 on daily closing basis (as per UTC time frame).

We note that the resistance at the 50-day SMA should be watched carefully. If the bulls struggle to breakout of this, it is prudent to close the position.

LTC/USD

We have been bullish on Litecoin for the past few days. We had recommended a long position in it in our previous analysis. Our trade triggered today and our readers would have entered long positions at $180. The break out above $175 has completed a short-term double bottom, which has a minimum target objective of $242.

LTC/USD

The LTC/USD pair has cleared the immediate overhead resistance from the 50-day SMA; it is a bullish sign.

The price should now rally to $242 and thereafter to $307 levels. We had previously recommended a stop loss of $130. However, post the breakout, the stops should be raised to $140.

We’d better keep trailing the stops higher because we don’t want to hang on to the trade if it falls back below $175.

ADA/BTC

Cardano is not finding any buyers. It is looking weak and a breakdown from the bearish descending triangle pattern looks possible.  

ADA/BTC

The price has broken down of the critical support of 0.00004070. Unless the bulls quickly climb above this level, there might be a fall to the next support level of 0.0000246.

Our bearish view on the ADA/BTC pair will be invalidated if the price breaks out of the downtrend line of the descending triangle.   

NEO/USD

NEO has reached the critical overhead resistance of $120 from where it has returned on three previous occasions. Once the cryptocurrency breaks out of this level, we might see a move towards the downtrend line of the descending triangle pattern.   

NEO/USD

We retain our recommendation for a buy call given on the NEO/USD pair in our previous analysis. Traders can go long once the price sustains above $121 for four hours. The stop loss can be kept at $100. Target objective is a rally to $140.

EOS/USD

EOS has reached a critical resistance zone of $9.8 to $10.6. In this zone, it has resistance from the 20-day EMA, the 50-day SMA and the downtrend line.

EOS/USD

The EOS/USD pair will change its trend once it breaks out of the downtrend line. Until then, we are unable to recommend any reliable trades in it.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

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The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The cryptocurrency market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

While a buy and hold strategy has proven to be beneficial to the early Bitcoin investors, the late entrants have used the wild price swings to add to their Bitcoin numbers. We can see from the charts in this article that the whales have increased their Bitcoin holdings over the past couple of years.

In these price swings, an average trader buys at the highs and sells at the lows. We have been trying to help our readers avoid this pitfall. All along through this fall, we have refrained from suggesting aggressive long positions. But, do we find a short-term bottom now?

Let’s see.

BTC/USD

We were expecting Bitcoin to retest the lows after turning down from the trendline. But the bears could not break below the $8,000 mark.  

BTC/USDCurrently, the price is likely to face resistance at the downtrend line and above it, at the 20-day EMA. We expect the $8,600 to $9,400 levels to be a real test for the bulls.

If they succeed in breaking out of this zone, a quick rally to $12,000 might take place, where it will again face resistance from the 50-day SMA and the resistance line of the descending channel.

Therefore, the traders can wait for a breakout above $9,500 to buy. The stop loss for the trade should be kept at $7,800. The profit objective is a move to $12,000.

And what if the BTC/USD pair fails to break out of $9,500 and turns down once again?

In this case, traders should wait, resisting the urge to buy at lower levels because if the price breaks below $7,800, we might see it go down to the $7,000 point.

We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases. It would be irresponsible to provide levels only in one turn of events.   

ETH/USD

After a two-day dip on Feb. 10 and Feb. 11, Ethereum is also attempting to move up.  

ETH/USDThe ETH/USD pair is likely to face resistance at $911 from the 20-day EMA and at $980 from the 50-day SMA. Above these levels, the price may move to the resistance line of the descending channel, at about $1,050 levels.

On the downside, $775 has strong support.

It doesn’t provide good risk to reward ratio, so we are not suggesting a trade on it.

BCH/USD

Bitcoin Cash has been trading in a small range for the past four days. It might resolve with a large range day, either to the upside or downside.    

BCH/USDIf the large range day goes downside, we’d better avoid doing anything.

But if the BCH/USD pair breaks out of the downtrend line and the 20-day EMA, it will signal a short-term bottom, which can be traded.

Therefore, we think a long position at $1,400 with a stop loss of $1,100 might be a smart move. The profit objective of this trade is a rally to the $1,925 – $2,000 levels.  

XRP/USD

We had written about the possibility of a short-term bottom in Ripple. We have been waiting for a rally above the 20-day EMA to initiate long positions.

XRP/USDOn Feb. 10, the XRP/USD pair broke out of the 20-day EMA but could not sustain higher levels. Right now, it is again at the 20-day EMA. We believe that if the bulls sustain above the $1.1 levels for four hours, we can expect a rally towards the 50-day SMA at $1.5. If this level is crossed, a move to $1.74 is likely.

The traders can keep a stop loss at the $0.86 levels, which is just below the previous support. Ripple has been an underperformer in the current fall, hence, please trade with only 50 percent of the usual position size.         

XLM/USD

Stellar has continued its range-bound trading action for the past few days. Attempts to rally have been facing strong resistance at the $0.41 levels.

XLM/USDIf the bulls succeed in breaking out of the descending channel, we anticipate a rally to the $0.63 levels. We don’t find any long trade until the XLM/USD pair trades inside the channel.

On the downside, if the cryptocurrency breaks down of $0.3 on a closing basis (as per UTC), it can slide to the support line of the channel.

Therefore, we’d better wait for a breakout of the channel to initiate any long positions.

LTC/USD

We had advised on long positions in Litecoin if the breakout sustains above the $175 levels. However, for the past three days, the bulls have been struggling to clear the 20-day EMA hurdle.

LTC/USDIf the price breaks out of $175, it will clear the resistance from the 20-day EMA, the downtrend line, and the horizontal line.

We believe that this is a significant development. That’s we reiterate our recommendation to initiate long positions if the LTC/USD pair holds above the $178 levels for four hours.

The stop loss for the trade can be kept at $130.

On the upside, $200 is resistance. If the cryptocurrency struggles at this level, we should close the position or tighten the stops.

Once the bulls break out of $200, we might see a rally to $307.

ADA/BTC

Cardano continues to trade inside the descending triangle pattern. This is a bearish setup, and a breakdown of the support at 0.00004070 will complete the pattern.  

ADA/BTCThough the target of this breakdown is way lower, we expect the ADA/BTC pair to find buying support at the 0.0000246 levels.

Failure of a bearish pattern is a bullish sign. Therefore, if the cryptocurrency turns up and breaks out of the 20-day EMA, the downtrend line of the descending channel and the 50-day SMA, we need to reverse our position and go long.

Until then, consider staying away from it.   

NEO/USD

In our previous analysis, we had recommended a long position on NEO above $120 levels with a stop loss of $100.  

NEO/USDThough the price reached an intraday high of $120.33 on Feb. 10, it could not settle at the levels. Therefore, traders should wait for the price to sustain for at least four hours before buying the breakouts.

On the downside, $93.53 again acted as strong support yesterday, Feb. 11.

The NEO/USD pair is stuck in a range of $93.5 on the downside and $120 on the upside. A breakout of this range is likely to propel the cryptocurrency towards the downtrend line of the descending triangle.

Traders can buy on a breakout above $121 if the price sustains the level for at least four hours. The initial stop loss should be kept at $93, which should be trailed higher if the bulls fail to break out of the triangle downtrend line.

But in case, if the NEO turns down from the moving averages and breaks down of the $93.53 levels, it might become negative.

EOS/USD

We had recommended a short-term trade on EOS at $9 with a target objective of $10 and $12. The cryptocurrency came very close to our target as it topped out at $9.9 on Feb. 10. Hope the traders trailed their stops higher and closed out the trade at least at breakeven prices.

EOS/USDThe moving averages have completed a bearish crossover, and the 20-day EMA is trending down. It is likely to offer strong resistance at the $10 levels.

On the downside, the $7.5 to $6.5 levels will act as strong support.

We don’t find any reliable trade setups at the current levels, so no suggestions on new trades with the EOS/USD pair.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Cryptocurrencies are a part of evolving technology and are still in a nascent stage.So, they are likely to remain quite volatile compared to the other matured asset classes.

The early investors in cryptocurrencies were mostly technology enthusiasts who saw a future in them. After the humongous returns of 2017, more and more institutional investors want to join the party.

This is changing the way the cryptocurrencies perform. In the past 90-days, the correlation between the S&P 500 and cryptocurrencies has risen sharply to 33 percent, which is way above the previous high reading of 19 percent, according to Nick Colas, co-founder of DataTrek Research. The long-term average is way lower at 1 percent.

2018 has turned out to be hugely negative to both the stock market and the cryptocurrencies. Let’s see if the top coins point towards a resumption of the downtrend, similar to the S&P 500.

BTC/USD

While it is better to trade with the trend, at times, strong counter-trend rallies can also be profitable. Bitcoin is trading inside a descending channel with both the 20-day EMA and the 50-day EMA trending down. This shows that it is in a confirmed downtrend. The current pullback is likely to face resistance at the downtrend line and the 20-day EMA.

BTC

In a downtrend, when the selling is overdone, and prices reach attractive levels, it can offer a short-term trading opportunity.

We believe that if the BTC/USD pair holds above the February 06 lows during the next leg down, the traders will have an opportunity to enter long positions. The ideal time to buy would be when prices break out of the downtrend line and the 20-day EMA. The profit objective of such a trade will be a move towards the resistance line of the descending channel.

However, if the price breaks down and goes on to make a new low, the above-mentioned trading opportunity will be invalidated.   

ETH/USD

Ethereum plunged from $1,265 levels to $565.54 levels within nine days. The February 06 low also coincided with the support line of the descending channel.  

ETH

The moving averages have completed a bearish crossover, which points to the possibility of another leg down. We expect the current leg of the pullback to face resistance at the 20-day EMA. If the ETH/USD pair stays above the February 06 lows, it will point to a possible short-term bottom, which can be purchased.

We should avoid the trade if the cryptocurrency sinks to new lows.  

BCH/USD

Yesterday, Bitcoin Cash made a strong move up. It is now likely to move towards the downtrend line and the 20-day EMA where it might face strong resistance.    

BCH

The BCH/USD pair will become positive in the short-term once it breaks out and sustains above the downtrend line. We expect it to form a bullish setup in the next few days. The first target objective is a move to $2,072 levels.

We currently don’t find any bullish pattern; hence, we do not recommend any trade on it.  

XRP/USD

Ripple has caused a lot of heartburn to its investors. At the current price, it is still down about 67 percent from its peak. It has been trading in a small range for the past five days and is not finding much interest among the buyers.

XPR

However, we believe that if the XRP/USD pair breaks out of the 20-day EMA and the downtrend line, we can expect it to attract further buying, which can propel it towards the overhead resistance of $1.74. Therefore, we need to wait for a breakout above the 20-day EMA before buying.

Our view of a short-term bottom will prove to be wrong if the cryptocurrency breaks down of the lows formed on February 06.         

XLM/USD

Stellar has become range bound for the past three days. Intraday, it is facing resistance at the previous support of $0.41.

XLM

A break above this level will again face selling at the resistance line of the descending channel. The trend on the XLM/USD pair will change only after it breaks out and sustains above the descending channel.

Stellar will become negative if it sustains below $0.30 levels.

LTC/USD

Litecoin is close to the 20-day EMA, which has acted as strong resistance on two previous occasions.

LTC

If the bulls break out of this level, they are likely to face another round of selling around the $175 mark, which has dual resistance, from the downtrend line and the horizontal line.

Once the LTC/USD pair breaks out of these resistances, it will probably start a new uptrend, which can carry it to $243 and after that to $307.

Traders can initiate long positions once the cryptocurrency breaks out and sustains above the $175 levels. We don’t have a specific stop loss position. We can update the same one once our buy levels are triggered.

ADA/BTC

Cardano is not finding buyers. It continues to struggle near the lows formed on February 02. It has also formed a descending triangle pattern, which is a bearish setup.  

ADA

If the ADA/BTC pair breaks down and sustains below the horizontal support of 0.00004070, it will complete the descending triangle formation. After that, it will most likely slide to 0.0000246 levels where buying should emerge.

Our bearish view will be invalidated if the digital currency breaks out and closes above the downtrend line of the triangle.   

NEO/USD

NEO is facing resistance at the moving averages, as outlined in our previous analysis. Additionally, it formed an inside day pattern yesterday, February 08, and it is likely to repeat the same pattern today.

NEO

These successive inside day patterns have the same effect as the coiling of the spring. Once the bulls breakout above $120 levels, a quick rally to the downtrend line at $140 might take place. Traders can keep an initial stop loss of $100, which can be trailed higher to reduce the risk.

On the other hand, if the NEO/USD pair breaks down instead of breaking out, it will become negative, and a retest of the February 06 lows is likely.

EOS/USD

EOS has broken out of the descending channel, which points to a waning bearish momentum. However, it has been facing resistance close to the $8.97 mark for a couple of days. A break above this level is likely to propel the cryptocurrency higher towards $10 and then to $12.

EOS

Very short-term traders can initiate a long position in the EOS/USD pair at $9 and keep an SL of $7.5. Still, this is a very risky trade; traders should use only 50 percent of their usual allocation.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

After the clampdown in China and South Korea to cryptocurrency trading, there were fears that the US will also follow suit.

However, the testimony of Jay Clayton, chairman of the Securities and Exchange Commission (SEC) and Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC) has allayed these fears.

They were much more realistic and supportive of cryptocurrencies than what the market had expected. As a result, most cryptocurrencies are currently in a sharp pullback, after days of weakness.

Even after the recent plunge, some analysts believe that the cryptocurrencies will enter into a strong bull market that is forecast to be at least as strong as 2017.

Let’s see if we can find signs of bullishness in the top cryptocurrencies by market capitalization.

BTC/USD

We had previously recommended buying Bitcoin in the range of $5,500 to $5,800 on panic selling. It came close to our buy level, but did not reach there. It bottomed out on February 6 at $6,075.04.  

BTC/USD

The cryptocurrency is finding buyers at lower levels who are using the sharp plunge in prices to buy for the long-term.

So, is the downtrend over or will the market resume its fall after a short pullback?

During a strong downtrend, a 1 to 3-day pullback can be expected. The counter-trend move usually faces selling at the 20-day EMA or at previous supports, which now act as resistance.

The BTC/USD pair is likely to face resistance at $9,500, which was the high on February 3. Above this, a move to $9,920 can’t be ruled out, but we expect the range of $9,920 to $10,700 to act as a strong resistance.

We believe that the cryptocurrency will turn down from one of the above-mentioned levels. If the retest of the lows is successful, we may add long positions for the long-term.

If the lows break, we’ll have to wait for a few more days.   

ETH/USD

In our previous analysis, we expected a strong support at the $611.34 to $640 zone. Ethereum bottomed out at $565.54 on February 6.

ETH/USD

This pullback is likely to face resistance at the current levels. If the ETH/USD pair breaks out of the downtrend line, we might see a rally towards the $967 levels, where both the 20-day EMA and the 50-day SMA converge. We anticipate a turnaround from one of these levels.

If the next downward trend takes support between $770 to $640, it will indicate a bottom. However, if the bears breakdown below $565, a fall to $390 can’t be ruled out, but we consider this unlikely.  

BCH/USD

Bitcoin Cash bottomed out at $778.2021, just below the critical support of $854. However, the pullback from the lows does not instill confidence.    

BCH/USD

After the steep decline, we believe that the BCH/USD pair will enter a period of consolidation before embarking on an upward trend. The current pullback is likely to face resistance between $1150 and $1325 levels, from the 20-day EMA and the downtrend line.

We should turn bullish in the long-term only on a sustained move above the downtrend line.

XRP/USD

Ripple broke below its critical support of $0.61, but quickly recovered from $0.5627 levels. The pullback might face resistance at the previous support of $0.87.

XRP/USD

Above this, the XRP/USD pair will face a strong resistance at the downtrend line. We’ll look to buy if the downward trend finds support between $0.87 and $0.61 levels.

XLM/USD

Stellar broke below the $0.296 critical support on February 6, but it did not fall to the support line of the descending channel.

XLM/USD

Similar to the other cryptocurrencies, the XLM/USD pair is currently in a pullback, which will probably  face resistance at $0.41; this level was previously acting as strong support.

We may have a positive outlook on Stellar once it breaks out and sustains above the descending channel.

LTC/USD

We mentioned in our previous analysis that the recovery in Litecoin was stronger than other cryptocurrencies. While the other cryptocurrencies broke to new lows on February 6, the LTC/USD pair held on to its February 2 lows, which is a sign of strength.

LTC/USD

If the recovery breaks out of $175, it will indicate a double bottom in the short-term, which gives it an upside target objective of $243.

At the same time, the cryptocurrency has a slew of overhead resistances between $168 and $185. Hence, we anticipate a few days of range bound action between $107 and $175.

We recommend looking to buy once the pair moves above $185.  

XEM/USD

NEM fell to a low of $0.36476 on February 6, close to the critical support of $0.31672.

XEM/USD

Currently, it is close to the downtrend line, which will probably offer strong resistance. The downtrend will be over once the XEM/USD pair sustains above the downtrend line. We recommend waiting for a buy setup to form before making any purchases.

NEO/USD

We had forecast NEO to fall to $64.83 levels in our previous analysis and on February 6, it bottomed out at $63.62.

NEO/USD

NEO has seen one of the sharpest pullbacks among the top cryptocurrencies. Still, it can face resistance between $111 and $123, from the moving averages.

We’d better wait for the NEO/USD pair to hold above the $93 levels in the next leg down to start purchasing it.

EOS/USD

We had forecast that the $6.5 to $7.4 zone will act as strong support, and on February 6, EOS bottomed out at $5.7917.

EOS/USD

Right now it is trading inside a tight descending channel. If it breaks out of the resistance line of the channel, it’ll possibly rally to the $10.7 levels, where both moving averages converge.

If the EOS/USD pair holds above $7.5 levels in the next fall, we may place purchase orders.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

Leave a Reply

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

The exponential rise in Bitcoin and other cryptocurrencies attracted a number of new traders who embarked on a buying spree – mainly purchasing cryptocurrencies using credit cards.

Following the huge decline in 2018, the top 5 credit card companies have either banned or have announced a ban on cryptocurrency purchases using credit cards.

As a result, late entrants to the rally, who had purchased cryptocurrency using borrowed money and are nursing losses of more than 50 percent will now be forced to square up their positions.

This is likely to result in another round of panic selling, which will shake out the weak hands. These lower levels will attract a new set of investors who believe in the technology and have been waiting to invest at the right opportunity.

Let us identify these lower levels that can attract buyers.

BTC/USD

On February 02, Bitcoin saw some buying at the $8,000 levels. However, the pullback failed to reach our target objective of $10,700 for the short-term traders. We anticipated a pullback to the 20-day EMA, but in a selling frenzy, the pullbacks only lasted around 1-3 days. After a day of recovery, the cryptocurrency has turned down once again.

BTC/USDToday, the price has broken below the low formed on February 2. If the bears succeed in sustaining below the $8,000 levels, the BTC/USD pair is likely to slide down to $6,239, which is the pattern target from the break of the descending triangle.

Below this, the fall can extend to the $5,450 levels, which will effectively retrace 100 percent of the latest leg of the rally.

We believe that the panic selling to the above-mentioned levels offers a good buying opportunity to the long-term investors. However, investors should scale into the positions instead of buying all at once. We recommend buying about 30 to 40 percent of the desired allocation in the range of $5,500 to $5,800.   

ETH/USD

In our previous analysis, we expected some resistance at the $1,025 levels. On February 3, Ethereum turned down from a high of $999. We had also suggested long positions on a decline to the $770 to $820 levels with a stop loss of $700.

ETH/USDWe still believe that the $770 to $785 range is a strong support zone for the ETH/USD pair, however, if this support zone breaks, a slide to $640 is likely.

The 78.6 percent retracement of the latest leg of the rally is at $611.34 levels. Hence, we foresee strong buying in the zone of $611.34 to $640.

However, the 20-day EMA and the 50-day EMA are likely to complete a bearish crossover, which is a negative development. Therefore we do not recommend any fresh trades.  

BCH/USD

We expected Bitcoin Cash to pull back to the downtrend line, but it turned down from $1,316.07 levels.

BCH/USDToday, it has broken below the $1,000 support. Now, it is likely to fall to the next critical support of $854.3135.

We do not find any signs of a bottom on the BCH/USD pair barring the fact that the RSI is close to entering into the oversold territory. Despite this, we want to see some buying emerge before making any trade on it.

XRP/USD

Ripple is also retesting the lows formed on February 2. Compared to other cryptocurrencies, it has still not fallen below the February 2 low of $0.63252.

XPR/USDThis points to likely exhaustion of selling in the XRP/USD pair. Also, the $0.61 is the final support. After this time, we may see a further fall to $0.24 levels.

It will become positive in the short-term after it breaks out of the downtrend line. Until then, all pullbacks are likely to be sold by the bears.         

XLM/USD

Stellar could not build on the sharp pullback of February 2. It has again broken below the support of $0.41 and is likely to retest the critical support of $0.296.

XLM/USDIf this support breaks, the XLM/USD pair is likely to fall to the support line of the descending channel, which should offer strong support.

If this level also breaks, a fall to $0.1 might take place. We recommend waiting for the trend to change from down to up before initiating any fresh positions.

LTC/USD

The pullback in Litecoin was stronger than the other cryptocurrencies because it reached close to the 20-day EMA. This shows interest in buying at the lower levels.

LTC/USDIf the bulls accumulate the stock close to levels between $107 and $120 levels, it will point to a possible bottom. We might be interested in getting the LTC/USD pair if it breaks out of the $175 levels.

On the other hand, if the bears succeed in breaking below the lows of February 2, a fall to the final support of $84.708 is likely.

Due to this uncertainty, we do not recommend any long positions on Litecoin at the moment.  

XEM/USD

NEM is retesting the lows formed on February 2. If the bulls manage to hold the lows, a move towards the downtrend line might take place.

XEM/USDIf the lows breakdown, we are most likely to see a fall to the next support level of $0.31672. The XEM/USD pair will become positive in the short-term once it sustains above the downtrend line.   

NEO/USD

Until today, NEO had been a relative outperformer as it was still trading above the 50-day SMA. Today, it has broken below the 50-day SMA, the critical support of $93.53 and the low formed February 2.

NEO/USDIt still holds minor support at $86.143, below which it can fall to $64.83 levels. If this level also fails to hold, the NEO/USD pair can fall to $27.13, which is the target objective on the breakdown from the symmetrical triangle pattern.

Considering this recent weakness, we recommend holding any trades until further notice.

EOS/USD

We had recommended a long position in EOS on dips to $9 with a stop loss of $7.4. Our profit objective was $14, but the pullback topped out at $11.25.

EOS/USDThe EOS/USD pair has again declined towards the critical support zone of $6.5 to $7.4. We expect this level to hold, but it is prudent to not take any fresh positions until the charts forecast a short-term bottom.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

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There are various reasons behind the panic currently gripping the crypto world – increased regulations, hacking, and crackdown by various governments. Additionally, the last leg of the rally looked frothy as traders gobbled up cryptocurrencies at crazy levels out of fear of missing out on the rally.

But when the mainstream media highlights negative news, investor sentiment is affected and some traders panic and dump their positions out of fear of losing their capital.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

Some analysts believe that the bubble in cryptocurrencies has burst, while the others believe that the current fall is a great long-term buying opportunity.

We consider the recent fall as a great buying opportunity. However, all cryptocurrencies will not rise equally from their current levels, as markets will start distinguishing between different cryptocurrencies.

Therefore, we should look to buy stronger currencies that have fallen less and are bouncing off sharply from their key support levels.

Let’s explore which cryptocurrencies are showing signs of a pullback.

BTC/USD

Bitcoin is in a firm bear grip. It has declined about 55 percent from its high. With the recent fall, the cryptocurrency has retraced close to 78.6 percent of the latest leg of the rally. We find first signs of buying at $8000 levels.

BTC

In 2017, the RSI fell to the oversold levels (about 30) on three occasions and all of them proved to be a good buying opportunity. Presently, the RSI is close to the oversold levels. Therefore, there is a greater likelihood of a bottom formation around the current levels.

Aggressive traders can buy between $8,600 to $8,600 and keep a stop loss of $7,800. The pullback can lift the BTC/USD pair to the overhead resistance of about $10,700.

We anticipate another round of selling in the resistance zone of $10,700 to $11,300 (at the 20-day EMA). Therefore, traders should book partial profits at $10,500 levels and trail the rest. This is a risky trade and should be attempted with less than 50 percent of the usual position size.

The next leg down will confirm a bottom in the cryptocurrency, if it doesn’t break the recent lows of $8,000. If the lows break, the downtrend can extend to $6,000 levels. Therefore, we recommend that long-term traders should wait for a couple of days before buying.  

ETH/USD

Our stop loss on the long positions in Ethereum was hit at $1,000. It could not escape the panic that has gripped the cryptocurrency market.

ETH

Today, the ETH/USD pair broke below the uptrend line, the 20-day EMA and the 50-day SMA. It finally took support at $768, just below the panic low of $770 hit on January 17 2018.

The pullback from the lows is likely to face resistance at $1,025 levels. At the current levels, the risk to reward ratio is not attractive. Therefore, we are not recommending making any trades on this currency.

However, if the next fall towards the $820 to $770 level holds, we suggest long positions with a SL at $700.  

BCH/USD

Bitcoin Cash has completely retraced the last leg of the rally. It has slumped about 73 percent from its peak.  

BCH

In our previous analysis, we forecasted that if the $1,364.9657 level breaks, a fall to $1,150 is likely and that is what happened. The cryptocurrency fell to a low of $1,000 where buying emerged.

The pullback can carry the BCH/USD pair to the downtrend line, where we anticipate another round of selling.

Bitcoin Cash has been a laggard; hence, we want to see a further confirmation of a bottom formation before recommending any trade. We are most likely to recommend a long position if the support zone of $1,150 to $1,000 holds during the next fall.

XRP/USD

Ripple has taken the current fall on the chin. At the day’s intraday low of $0.61, it had declined 81.5 percent from lifetime highs of $3.317.

XRP

The momentum was so strong that the critical support level of $0.87, which had acted as a strong support on January 16 and January 17 also failed.

The XRP/USD pair fell close to the next support level of $0.61, which is the final support, below which, a fall to $0.24 is likely.

The current pullback should reach the downtrend line which should offer a strong resistance. The risk to reward ratio is not attractive, so we don’t suggest any trade on it.         

XLM/USD

Stellar has broken below the 50-day EMA. At the days intraday it also broke below $0.41 and fell towards the final support of $0.296.

XLM

Strong buying at the lower levels helped the cryptocurrency pull back above the critical support of $0.41. If the level holds, we may see a range bound action on the XLM/USD pair for the next few days.

Steller will likely become a buy once it breaks out of the upper end of the range at $0.64.

We are not recommending a buy today because a pullback of a single day cannot confirm a bottom.

LTC/USD

After breaking the critical support of $175, the bulls failed to hold the $140.001 levels and  Litecoin fell to a low of $107.102.

LTC

Strong buying at the lows is likely to carry the LTC/USD pair towards the overhead resistance of $175.

However, the cryptocurrency has been weak and its logical support is way lower at $84.708. Therefore, we don’t recommend any long positions on it.  

XEM/USD

NEM has declined about 74 percent from the highs. It has found some buying support at $0.45747, just below the critical level of $0.49.

XEM

The pullback should reach the downtrend line, which should offer strong resistance. The risk to reward ratio is not attractive and the XEM/USD pair has been an underperformer. Therefore, we want to wait for a further confirmation of a bottom before cherry picking.

During the next retest of the low, if the $0.45 level breaks, a slide down to the next support of $0.3672 is likely.

NEO/USD

NEO broke below the symmetrical triangle on February 1 2018. Today (February 2), it fell close to the critical support level of $93.53 which resulted in strong buying by the bulls.

NEO

The pullback in the NEO/USD pair has reached close to the breakdown point of $132, which should offer a strong resistance level.

NEO is one of the stronger cryptocurrencies in the top 10 list because it is still quoting above the 50-day SMA.

We consider that it might be better to buy NEO during the next fall to $105 levels.

EOS/USD

We were expecting the trendline to provide some support, but the bears easily broke down below it. EOS found buying support at the $8.4 levels, close to the critical support zone of $7.5 to $6.5.

EOS

The EOS/USD pair is comparatively strong because it is also quoting above its 50-day SMA. Aggressive traders can buy on any dips towards $9 and keep a SL of $7.4.

The profit objective on the upside is a rally to $14 levels.

We recommend that the long-term traders, however, should wait for a buy set up to form before initiating any long positions.

Note: – Bottoms are not formed in a single day. After such a steep decline, we are likely to see a pullback and a few days of volatile price action. Therefore, we have suggested only a few trades and that too only for the aggressive trader.

The long-term traders should wait for a successful retest of the lows before buying.

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

With the news from South Korea confirming government’s positive stance on cryptocurrencies trading, the market still remains volatile.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

If it doesn’t recover within the next few days, negative news might prompt the bulls selling, that will lead to long liquidation.

However, if the bulls succeed in defending the critical support levels, we might see a sharp pullback and the money sitting on the sidelines will rush into the markets, providing a further boost to the upside.

We believe that we should see a strong move up or down within the next 3-5 days. Let’s see how we can capitalize on this.   

BTC/USD

Bitcoin price went down yesterday, January 30, resulting in a sharp decline. Currently, it is finding support just below the critical level of $9,920.02.  

BTC/USDYesterday, January 30, was the first close below the December 22 lows of $10,704.99. This shows that the sellers are gaining an upper hand at lower levels.

If the bears build on their advantage and break below the $9,300 levels, we should see a slump to $8,000. If the BTC/USD pair makes a new low, we shall not buy.

However, if the bulls regroup themselves and buy aggressively, pushing prices above the downtrend line, it will signal a likely reversal. That’s why we suggest buying on a close above $12,200 with an initial stop loss of $9,600. We expect the bounce to face strong resistance at $14,000 levels.

Though this trade doesn’t offer a good risk to reward ratio, we suggest taking it because the goal to buy as close to the bottom as possible. We should close the position quickly if it doesn’t gain momentum above $12,200.

As the chances of a whipsaw are high, please keep the allocation size at 50 percent of normal.

ETH/USD

Ethereum continues to be strong as it is still trading above the uptrend line and above both moving averages. We are holding 50 percent of our original purchase done at $1,000 levels with the stops at breakeven.

ETH/USDWe remain bullish on the ETH/USD pair because it continues to form a higher low on the charts. This shows that the bulls are eager to buy on dips, so they don’t let prices fall.

But the up move is facing profit booking at higher levels. As a result, the 20-day EMA has turned flat, which points to a consolidation in the short-term. The 50-day SMA continues to rise indicating the uptrend continuation.

Our bullish view will be invalidated if the cryptocurrency plunges below the uptrend line and the 50-day SMA.  

BCH/USD

Bitcoin Cash is down around 64 percent from its peak of $4,139.0893, that was reached on December 20, 2017.

BCH/USD$1,364.9657 is an important support level on the downside. If the BCH/USD pair breaks below this, we anticipate a fall to $1,150 levels, which is the next major support.

If this level holds, the bulls will attempt to break out of the 20-day EMA and the downtrend line. In case they succeed, we can expect the cryptocurrency to remain range-bound between $1,364.9657 and $2,072.6853.

XRP/USD

Ripple continues to be under pressure. It is unable to settle at any support level. Currently, it is taking support at the psychological level of $1.

XRP/USDIf this level breaks down, we can expect a slide to the lower end of the range at $0.87. If we find strong buying emerge at this support level, we may consider initiating long positions.

Until then, we don’t find any buy setups on the XRP/USD pair, so we don’t recommend any trade on it.       

XLM/USD

Stellar has broken down of the trendline immediate support and the price is quoting below the 20-day EMA.

XLM/USDIts next support is at the 50-day SMA and below it at the $0.41 levels.

On the upside, the XLM/USD pair is likely to face resistance at the trendline and the recent swing high at $0.634 levels.

Initiating long positions only above $0.65 levels might be a good move in this case.

LTC/USD

Litecoin broke below the critical support of $175, which completes the bearish descending triangle pattern. The bears are likely to push the price down to $140.001 and after that to $85 levels.

LTC/USDOn the other hand, the bulls will try to quickly reclaim the $175 levels. The LTC/USD pair will turn positive only after it crosses the downtrend line. It might be a good idea to wait for the trend to change before suggesting any trade.

XEM/USD

NEM has turned down after failing to break out of the moving averages. It is currently trying to hold the support at the downtrend line 1. If this support breaks, we might see a fall to the $0.60.

XEM/USDThe XEM/USD pair will show signs of bottoming out once it breaks out of the downtrend line 2 and sustains above $1.1.

It seems reasonable to wait for a reliable buy setup to form before initiating any long positions on it.

NEO/USD

NEO has been in a strong uptrend since December 2017. During the recent correction, it has not given up much ground, which makes it a relative outperformer. It is quoting above both the 20-day EMA and the 50-day SMA, which is a bullish sign.

NEO/USDIt has formed a symmetrical triangle, which is a continuation pattern. A breakout of this pattern might resume the uptrend and carry the NEO/USD pair to the highs and then towards its target objective of $275.

This way long positions can be initiated at $170 and the stop loss can be kept at $130.

Our bullish view will be invalidated if the cryptocurrency breaks down of the triangle, which can push it down towards the support zone of $85 to $100.

EOS/USD

EOS is in an uptrend from November 2017. The price has bounced off the trendline on four occasions. Currently, the price has again declined to the trendline.

EOS/USDThe 50-day SMA is also placed at the same level, and we expect the bulls to defend $10.5 levels.

However, any pullback from the trendline will face resistance at the $14 levels. We expect a few more days of consolidation before a breakout. Long positions might be initiated if the EOS/USD pair holds the trendline for the next couple of days.

In case the cryptocurrency breaks below the trendline, our bullish view will be invalidated.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Historically, January has always been a weak month for Bitcoin and 2018 is no exception. Some believe that this is due to Chinese investors converting their Bitcoins to fiat currency in order to buy gifts and presents to celebrate the Chinese Lunar New Year, which falls in February. After all, the Chinese market is one of the major players in the crypto world.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

However, the same behaviour does not hold true for stocks, because the Hong Kong and Chinese markets have been among the top performers. The equity markets are outperforming the crypto markets, at least in the first month of the year.

With only a couple of days more left in January, it remains to be seen if the fortunes of the large cryptocurrencies take a turn in February.

BTC/USD

Bitcoin turned down from the 20-day EMA on Jan. 28. We had suggested a long position on a close above $12,200, which did not trigger.

BTC/USDIn the very short-term, we find another descending triangle pattern as shown in the chart. The pattern will complete on a breakdown and close below $9920 levels.

Below this level, we are likely to see further selling pressure by the bears and some long liquidation from the aggressive bulls who have accumulated close to the $10,000 to $12,000 levels expecting a spike up.

Panic selling can drag the BTC/USD pair to $8,000 and potentially even further down to $6,000 levels. These lower levels look scary, but please note, we are not trying to instill fear among traders. We are just giving the possible lower levels developing according to the chart patterns.

It is important to keep in mind that if Bitcoin breaks out of the $12,000 levels, it will invalidate a bearish pattern; and that is a bullish sign.

Therefore, our recommendation is a likely long position at $12250, with a stop loss of $9,900 and a target objective of $14,000. Within the range of $9,900 and $12,200, we don’t find any buy setups.

ETH/USD

We are holding long positions in Ethereum from $1,000 levels. We had recommended booking partial profits at $1170 levels, in our previous analysis.     

ETH/USDYesterday, January 28, the Ethereum rallied to an intraday high of $1,265, which is close to 78.6 percent retracement levels of the recent fall from $1,424.3 to $770.

Traders can keep a stop loss of $1,000 on the remaining position because if the ETH/USD pair stays above $1,160, it is likely to again attempt a breakout above $1,284.28 levels.

If the $1,000 level breaks, Ethereum is likely to slide to the trendline.

BCH/USD

Yesterday, January 28, Bitcoin Cash broke out of the small overhead resistance at $1,700, but could not continue to build on the gain.

BCH/USDThe cryptocurrency has again turned back down and has fallen below $1,700 levels. On any upwards movement, the bulls are likely to face strong resistance at the 20-day EMA, which is roughly at the same level as the down trendline. Above this, the next level of resistance is at $2,072.6853.

The BCH/USD pair will become positive in the short-term only after it sustains above $2,072.6853. Until then, all pullbacks are likely to be sold.

On the downside, a fall below $1,364.9657 will plunge the price to $1,141 levels. We don’t find any buy setups, so we do not recommend any long positions.

XRP/USD

Currently, Ripple is trading in the center of the range. It is likely to fall to the lower end of the range if it breaks down of the immediate support at $1.09.

XPR/USDWe expect the XRP/USD pair to remain in the large range of $0.87 to $1.74 for the next few days. We are likely to wait for a dip in support levels or the range breakout to initiate fresh long positions.      

XLM/USD

With general sentiment across the crypto community remaining weak, Stellar has turned down from the overhead resistance. It is now likely to fall to the trendline support, as we have forecasted in our previous analysis.

XLM/USDThe 20-day EMA and the trendline support are close – that is why we expect the $0.55 levels to hold. We can initiate long positions once the XLM/USD pair breaks out of the $0.671 mark. We foresee a retest of the highs, with small resistance at $0.732 levels.

But if the trendline support breaks, a fall to the 50-day SMA is likely. We shall buy only on a strong rebound off the trendline.

LTC/USD

Yesterday, Jan. 28, the attempt by the bulls to carry Litecoin higher faced resistance at the 20-day EMA. Now, we anticipate another round of selling by the bears to breakdown below the critical support of $175.

LTC/USDIf the bears succeed in sustaining below $175, a fall to $140.001 and thereafter to $85 is likely.

Our bearish view will be invalidated if the LTC/USD pair breaks out of the down trendline of the descending triangle.

XEM/USD

We had forecast that NEM will face resistance at the $1 levels from both the moving averages and that is what happened.

XEM/USDIf the bears fail to sink the cryptocurrency back below the down trendline, we anticipate a range bound trading between $0.8 on the lower end and $1.2 on the upper end.

The XEM/USD pair will become positive in the short-term on a breakout and close above $1.21. Currently, we are unable to find any reliable buy setups on it, so we do not have any recommendations for trading.

ADA/BTC

Cardano is currently trading inside a tight range of 0.00005 and 0.00006. If support of this range breaks, a fall to 0.00004730 and after that to the lower end of the larger range at 0.00004070 is likely.

ADA/BTCHowever, if the bulls defend the 0.00005 levels again, the range bound trading action will continue for a few more days.

Within this tight range, we are unable to find any bullish pattern, so we do not advise any trading on the ADA/BTC pair.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

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The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Bitcoincloud.info. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Lite... | News | Bitcoincloud

After the discussions at the World Economic Forum in Davos, the world leaders are getting ready to deliberate on cryptocurrencies in the forthcoming G20 summit in March. Many leaders seek to regulate cryptocurrencies, but if we study the consequences of the Chinese regulations, we find that they have been ineffective.

Traders based in China have started trading at cryptocurrency exchanges in Hong Kong. The Chinese government has only increased the risk for their traders because now they are forced to buy Bitcoin at a premium of about $1,200 compared to other exchanges.

The leaders and central banks, instead of blindly opposing cryptocurrencies should chalk out a strategy to embrace them after discussing with the crypto stalwarts.

BTC/USD

The Bitcoin bulls have been defending the $10,000 mark for the past few days. But they have not been able to push prices higher, which is a point of concern.

BTC

The cryptocurrency has broken out of the down trendline one, which shows that the momentum on the downside has decreased. We can expect a few more days of range bound action between $10,000 and $12,000.

It is difficult to predict whether the upside or the downside move comes next.

If the bulls succeed in breaking out of the 20-day EMA, which is currently at $12,218, the BTC/USD pair should rally to the down trendline two. The traders can wait for the breakout above $12,200 to sustain for about 4-hours and then buy with a stop-loss at $9,900. The target objective is a move to $14,500.

On the downside, if the bears break below $9,900, the selling is likely to intensify. The next stop on the downside is $8,000.

As we are uncertain about the next move, we have elucidated both possibilities. We don’t find any setups as long as the price remains within the range.

ETH/USD

In our previous analysis, we had recommended long positions in Ethereum on dips to $1,000. Our long positions were triggered yesterday, Jan. 27.    

ETH

After touching an intraday high of $1,102.4 on Jan. 25, the cryptocurrency fell to the down trendline yesterday, Jan. 26. Now, if it manages to break out of $1,110, we can expect it to rally to $1,174.36 levels.

Once the ETH/USD pair breaks out of $1,110, traders should raise the stop loss from the current levels of $840 to $950. That will decrease our risk. Partial profits can be booked at $1,170 levels, and the stops on the remaining positions should be trailed higher.

BCH/USD

Bitcoin Cash has a history of entering into small range trading days, before a significant breakout or a breakdown. We had seen a similar pattern in August and October last year, 2017.

BCH

Currently, the price has been stuck in a tight range of $1,479 on the downside and $1,700 on the upside.

Any breakout of this range is likely to face a slew of resistance at the 20-day EMA, the downtrend line and $2,072.6853.

On the downside, support is at the January 17th low of $1364.9657 and $1141.

We don’t find any tradable setup on the BCH/USD pair.

XRP/USD

Ripple continues to trade inside the range of $0.87 and $1.74 with a downward bias. If the cryptocurrency breaks down of $1.09 levels, a fall to the lower end of the range is likely.

XRP

The XRP/USD pair is struggling to find any buyers. Therefore, we should wait for the cryptocurrency to bounce off the $0.87 lows before initiating any long positions.

The probable bearish crossover of the 20-day EMA and the 50-day SMA is another negative sign. We anticipate the range-bound trading action to continue for the next few days.      

XLM/USD

Stellar is comparatively stronger cryptocurrency because it is quoting above both the 20-day EMA and the 50-day SMA and both are trending higher, whereas, most other top currencies are witnessing a bearish crossover of the moving averages.

XLM

If the overall sentiment remains subdued, we believe that the XLM/USD pair will face resistance at the $0.671 mark. Currently, we don’t have a suitable stop loss, so, we’d better wait for a correction to the trendline before initiating any long positions.

Once the cryptocurrency breaks out of the $0.671 mark, a move towards the highs is likely, with a small resistance at $0.732 levels.

It might be a good idea to wait for a low-risk trading opportunity to initiate fresh positions.

LTC/USD

Litecoin broke below the $175 support level yesterday, Jan. 26, but recovered and closed above it by the end of the day.

LTC

What might be worth considering is the fact that the bulls are not able to push prices higher. If we don’t get an upside massive range move within a couple of days, chances are that the bears will again attempt to sink the cryptocurrency.

On the downside, support exists at $140.001, which is the intraday low of Jan. 17. If this level also breaks, the LTC/USD pair can sink to the next support level of $85.

If the bulls manage to push prices higher, they will face resistance at $200 from the 20-day EMA and at the down trendline of the descending triangle.

We should change our bearish view only after price breaks out of $225.

XEM/USD

NEM broke below the $0.86 levels yesterday, Jan. 26, and made an intraday low of $0.775. However, the bears were not able to capitalize on the breakdown.

XEM

Today, we find some buying at the lower levels. The bulls are attempting to break out of the down trendline, which continues to be major resistance. Even if the price breaks out of this, we expect the XEM/USD pair to face resistance at the $1 levels from both the moving averages.

The cryptocurrency will become bullish once it breaks out of $1.21 levels. We shall wait for it to turn positive before recommending any long positions.

ADA/BTC

Cardano again failed to break out of 0.00006. That’s why the buy suggested in the previous analysis did not trigger.

ADA

The ADA/BTC pair is now likely to fall to the 0.00005 levels, which should act as a support. However, if this level breaks, a fall to 0.00004730 and after that to 0.00004070 can’t be ruled out.

We shall wait for the cryptocurrency to turn bullish before recommending any fresh positions.

The charts for the analysis are provided by TradingView.

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