Cryptocurrency Analytics from FXOpen - page 35.

anref

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The cryptocurrencies rally continues for another week. Since our last update, bitcoin renewed the upward momentum but ultimately was unable to clear the $270 dollars level. Meanwhile Litecoin surged higher to $5.63 dollars per coin.

Bitcoin Rejected at $270 Dollars

In the past two days BTC/USD broke the previous high at $269.30 and set a new multi-week high at $272 dollars per coin. But the rally higher failed to clear this level for a second time. The correction seen today tested $260 dollars.

anref

legendary

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Cryptocurrencies are retracing across the board. After topping out near the $270 resistance on Tuesday, bitcoin has declined for two straight days. The total loss from the top currently stands at $14 dollars or 5.3 percent. Meanwhile the rest of the market is clocking much larger losses. Peercoin followed BTC lower by 14 percent and Namecoin has fallen by 13 percent cents since Tuesday.

Peercoin Falls by 14.6 Percent

Peercoin is currently down by 8.4 cents since reaching a high of $0.575 on Tuesday. In percentage terms this is 14.6%, the most among the top 4 cryptocurrencies. We are currently quoted at 49.1 cents for one Peercoin. Note that the 14% fall is measured from the high to the current price. If we measure it to the lows hit yesterday, the losses were over 18 percent.

X68N

hero member

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Hello,

as a trader in FX and crypto i wonder whats the purpose of this thread and for which audience?

What style and strategy do you use?

greetings

anref

legendary

Activity: 1568

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It’s been a two great days for the cryptocurrency markets as all major coins set new multi-month highs. Bitcoin broke the June 17th high and rallied to $267.99, a more of more than 5 percent. Meanwhile Litecoin continues its unstoppable run with a gain of 47 percent in 22 hours. But let’s start with big brother first.

Bitcoin Gains 5 Percent

Bitcoin rallied from an open of $246 on Monday to a high of $267.99 today. The move came within striking distance of a previous important swing high at $269.70. We noted this level as a potential resistance figure in our previous BTC article. Bitcoin is currently quoted near the highs at $265.13.

anref

legendary

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Litecoin is trading lower compared to our last update. The altcoin lost about 22 cents or just over 7 percent since last Thursday. Namecoin on the other hand bounced at the $0.55 resistance and is currently trading at 47 cents per coin.

Litecoin Declines by 7 Percent

Litecoin declined by over 7 percent since last week. The cryptocurrency traded as low as $2.63, hitting the 23% Fibonacci retracement but missing the 38.2 percent by a good margin. Today we came close to testing the lows with prices trading to $2.6599 before rallying back higher. We are currently quoted at $2.8455.

Nxtblg

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Quote from: anref on June 24, 2015, 02:32:28 AM

The bitcoin rally is in jeopardy. The bulls haven’t made any progress in six days now, since reaching a high of $256.75 last Wednesday. Peercoin is in a similar boat with prices stagnant since last Friday. But let’s start with big brother first.

Bitcoin Rally in Jeopardy

The bitcoin rally is dying a slow death. All momentum to the upside has now been lost. In today’s session, we opened at $248.54 and proceeded to fall by $5 dollars to a low of $243.12 before stabilizing somewhat. We are currently quoted at $244.57.

Jumped the gun in re Greece: that's my guess.

anref

legendary

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The bitcoin rally is in jeopardy. The bulls haven’t made any progress in six days now, since reaching a high of $256.75 last Wednesday. Peercoin is in a similar boat with prices stagnant since last Friday. But let’s start with big brother first.

Bitcoin Rally in Jeopardy

The bitcoin rally is dying a slow death. All momentum to the upside has now been lost. In today’s session, we opened at $248.54 and proceeded to fall by $5 dollars to a low of $243.12 before stabilizing somewhat. We are currently quoted at $244.57.

Read More https://blog.fxopen.com/bitcoin-peercoin-halt-gains/

anref

legendary

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It has been an exciting few days in crypto-land. Litecoin has gained 70 percent this week alone and Namecoin is nearing the 50 cents mark. Peercoin is also rallying and is up 10 cents or 31 percent this week.

Litecoin Doubles Since Start of Rally

Litecoin has doubled since the start of its rally back on May 22nd. As can be seen on the chart below, the initial surge led us to $1.93. From here LTC/USD fell back to retest the breakout point at $1.60, only to get quickly repelled. In the next two weeks Litecoin slowly climbed back to the $2 dollar mark. But it was only after prices decisively broke above the $2.05 high that the massive rally higher went underway.

anref

legendary

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After a long range-bound period, BTC/USD finally rallied yesterday. Bitcoin gained $8 dollars and we peaked at $253.36.

Bitcoin Rallies but $250 Still in Play

Bitcoin is in full rally mode but the key $250 figure has yet to give way. Yesterday’s push stopped short at $253. We are currently trading right at the $250 mark. The strong momentum higher means that the figure will likely be broken soon but the conservative approach calls for waiting until we trade past $254/$255 dollars per coin.

anref

legendary

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Quote from: Nxtblg on June 09, 2015, 11:19:48 AM

Y'know...after seeing those charts, and longer-term ones that show a Bitcoin trading range with (arguably) a slight bullish trend, this thought occurred to me:

If this ranginess continues, which would make Bitcoin's 1-year chart look like gold's right now, the original, orthodox Bitcoin-as-currency folks will finally have the price environment that they're looking for: a more-or-less stable price for the Big BTC.

It'd be fascinating to see Bitcoin continue range-bound with a centre of around $235 or so. You'd see hybrid trading and purchasing: buy low, spend high ( or try to. Wink

) And, as economic theory tells us, that kind of hybrid action would serve as arbitrage that eventually narrows the range - which means, narrowing the potential loss for people whose trading acumen isn't that great.

Don't get me wrong: my pocketbook would love to see Bitcoin get back up into the four figures. But we're supposed to be a part of something here, and it would be nice, neat & all that fluffy-stuff to see the dream realized.

I'll be glad to return to one figure Grin

Nxtblg

legendary

Activity: 924

Merit: 1000

Y'know...after seeing those charts, and longer-term ones that show a Bitcoin trading range with (arguably) a slight bullish trend, this thought occurred to me:

If this ranginess continues, which would make Bitcoin's 1-year chart look like gold's right now, the original, orthodox Bitcoin-as-currency folks will finally have the price environment that they're looking for: a more-or-less stable price for the Big BTC.

It'd be fascinating to see Bitcoin continue range-bound with a centre of around $235 or so. You'd see hybrid trading and purchasing: buy low, spend high ( or try to. Wink

) And, as economic theory tells us, that kind of hybrid action would serve as arbitrage that eventually narrows the range - which means, narrowing the potential loss for people whose trading acumen isn't that great.

Don't get me wrong: my pocketbook would love to see Bitcoin get back up into the four figures. But we're supposed to be a part of something here, and it would be nice, neat & all that fluffy-stuff to see the dream realized.

anref

legendary

Activity: 1568

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The rally in Litecoin prices continues unabated. In the past seven days since our last update, LTC/USD rallied 15 cents or just under 10 percent. Meanwhile big brother bitcoin has been stuck in a quagmire after the break lower didn’t go anywhere.

Bitcoin Claws Back Losses

Bitcoin managed to claw back most of the losses accrued last week. This wasn’t much of a feet, considering that the virtual currency only lost $7.77 dollars after the break of $230. We are currently quoted at $227.99, after yesterday’s bounce at the $230 mark.

anref

legendary

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Both Peercoin and Namecoin followed big brother lower on June 1st. The break took out nearly 2 cents from PPC and about 1.4 cents from Namecoin’s value.

Peercoin Rally Ends

The rally in PPC prices took a severe setback this week as the altcoin suffered on renewed BTC selling. Alternative cryptocurrencies will often sell-off in tandem with bitcoin prices. Since May 30th PPC/USD has lost 4.2 cents or just below 13 percent. But the sell-off has paused during the past two days as BTC stabilized as well. We are currently quoted at $0.282 dollars per coin.

anref

legendary

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There have been a lot of developments in the past week, since our last update on BTC/LTC. Bitcoin finally broke out of its range yesterday and hit a low of $222.23 today. Meanwhile Litecoin started its downmove one day earlier on May 31st, by losing close to 10 percent. But let’s start with big brother first.

Bitcoin Breaks $230 Dollars

After spending the entire last month of May tucked in a range, bitcoin finally broke out yesterday. The break of support at $230 dollars led to a more lower to $222.23 today. So far no large losses have transpired and we are currently quoted at $226.39, just $4 dollars below the previous support.

anref

legendary

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The rally in Peercoin eased up somewhat, with prices currently trading at $0.324 dollars per coin. The slowdown is not that surprising when you take into account the complete lack of movement in bitcoin. For the past week, BTC/USD barely moved, trading in a tight range of $9 dollars. Meanwhile alternative cryptocurrency Namecoin is still undecided.

Peercoin Rally Eases Up

The rally in Peercoin prices slowed down considerably since our last update. While PPC/USD did hit a new high of $0.353 on Saturday, the crypto has fallen back since and is currently quoted at $0.324.

anref

legendary

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Big brother bitcoin continues to trade in a range. After several days with tentative gains, BTC/USD fell by $5 dollars yesterday. Litecoin on the other hand, surged 30 percent on Friday so let’s start with that.

Litecoin Surges 30 Percent

Litecoin surged 45 cents on Friday, or about 30 percent The crypto staged most of the gains in only 3 hours, after breaking the previous swing high at $1.60. Prices rallied by 2.4%, 4.9% and 13.52% in each of the three hours, hitting a high at $1.93 dollars. We have since eased up somewhat with LTC trading at $1.80 dollars per coin. Here’s a daily Litecoin chart. The massive move on May 22nd is clearly visible.

anref

legendary

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We’re having another slow week for cryptocurrencies. Bitcoin traded in a tight range between $232 and $238 dollars per coin since Monday. Even going further back big brother has been more or less trading flat since the start of May. Most cryptos followed BTC in this range but notably Peercoin buckled the trend by rallying on Tuesday.

Peercoin Rallies to $0.341

Peercoin broke the important $0.267 resistance on Tuesday and surged higher. In our article next week we highlighted this level as a potential breakout point. There is little follow-through on the move however and this is probably due to bitcoin drifting lower during the same timeframe. After reaching a high of $0.341 PPC/USD slowly gave up most of the gains to drop to a low of $0.286 today. We are currently quoted right at the 30 cents mark at $0.299.

anref

legendary

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Bitcoin continues to trade range-bound as we wait for direction. While the crypto lost about $10 dollars since our last update, no major levels have been broken. Bitcoin’s little brother, Litecoin, is also trading undecided after a brief spike above $1.50 dollars.

Bitcoin Waits for Direction

Everyone’s favorite cryptocurrency had several daily losses in a row, declining by $1.50, $0.40 and $3.10 dollars. But like we mentioned above, the slow drip lower hasn’t broken any important levels. Bitcoin is currently trading at $232 dollars per coin.

anref

legendary

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It has been an uneventful week in cryptoland. Bitcoin spent most of the week tucked in a small range between $235 and $247 dollars per coin. Namecoin bounced off the support near $0.30 while Peercoin failed to rally above 25 cents.

Peercoin Bounces at 25 Cents

Alternative cryptocurrency Peercoin had an independent rally on May 12th that briefly took it above $0.25. But the altcoin failed to establish a base above the figure and after fighting with the level for one full day, it surrendered most of the gains. We are currently quoted at $0.239 per coin.

anref

legendary

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Both Bitcoin and Litecoin are still trading right below their respective resistance levels. For LTC/USD, this level stands at $1.50 while for BTC it’s at $250 dollars per coin. Since our update last week, both cryptos have made unsuccessful attempts to rally higher.

Bitcoin Pushing on $250

Bitcoin continues to push on the $250 resistance level. On Saturday we reached a new 30-day high at $247.07 but soon after the sellers pushed the virtual currency back below $240. We are currently trading at $242 flat on Fxopen.

Topic: Cryptocurrency Analytics from FXOpen - page 35. (Read 42503 times)