Topic: Daily price analysis BTC + ALTCOINS (Read 3071 times)

Bitcoin Price Prediction for November: The Market Is Wound Up and Waiting

Bitcoin price predictions 2018 have not come to pass. The coin is range-bound and waiting for something to happen, but what could it be?



Technical Outlook

The technical outlook for Bitcoin is lackluster at best. With no major catalyst to drive it, the coin is languishing near long-term lows where it has been trading for many months. The world’s leading cryptocurrency is trapped in a tight range and does not look like it will break out any time soon. Indicators like stochastic and MACD concur; this token is range-bound and trending sideways for the short-term at least.



Description - Bitcoin price chart with Bitcoin Predictions 2018

Major support is above $6,000, and the token’s range appears to be narrowing down to a point near $6,400. This point is noteworthy as it is the balance point at which miners — most of them, anyway — are able to turn a profit. If the price of Bitcoin was to fall significantly below this level, it could force miners out of the market and spell the end for the world’s reserve cryptocurrency… That is not a possibility in our Bitcoin projections.

Our Bitcoin forecast is this: the price of Bitcoin will most likely trend sideways within the current trading range until the next major catalyst emerges. The token will likely trend near a point of the market equilibrium that appears to be near $6,400. When the catalysts emerge and there are several on the horizon, Bitcoin will break out of the range and start moving higher. How high it goes will depend on the catalyst.

Bitcoin miners are supporting the market

The global hash rate data says that Bitcoin miners are still interested in the number one cryptocurrency by market cap and are supporting the market. The global hash rate, the amount of computing power spent on BTC mining, topped out this year when BTC prices hit their lowest levels but have since been trending at record-high levels. The miners are important for one fundamental fact: they are the source of all Bitcoins. Because it costs the miners about $6,500 per coin to operate their rigs, you can bet the price of Bitcoin won’t far fall below that level.



Description - Chart of Bitcoin hash rate growth since 2017

A Dwindling Supply will help drive prices higher

What most Bitcoin price predictions fail to mention is the ever-dwindling supply of Bitcoins. By dwindling, I do not mean the ever-increasing difficulty rate which makes finding new Bitcoins harder and harder. By dwindling, I mean the growing number of Bitcoins that are lost or irretrievably locked away.

- Proof of Burn is a way to start new cryptocurrencies by burning another cryptocurrency. A public cryptocurrency burn is sending cryptocurrency to a prearranged and irretrievable BTC address for the purpose of shifting value from one token to another.

Estimates as recent as November 2017 had the number of lost Bitcoins at 4 mln. That number has jumped significantly over the last 12 months and now stands closer to 7 mln lost Bitcoins. The reasons for the loss are varied, but all point to one thing: less and less Bitcoins are available every day, and eventually, they will all be gone. To put this problem into perspective, think about this: there are only 21 mln BTCs ever to be mined, about 18 mln are already mined, and 7 mln of those are lost.

People lose Bitcoin on purpose?!

One of the primary reasons Bitcoins are getting lost is Proof-of-Burn. Proof-of-Burn is the concept that value stored in one token can be transferred to a new digital token. By burning coins in a public fashion, sending them to an unrecoverable address, the tokens are lost on purpose and are in effect an escrow account guaranteeing the value of the newly created cryptocurrency.

Regardless the reason, the bottom line for investors is this. Bitcoin is a commodity; commodities are valued based on supply and demand. We know for a fact that supply is shrinking, all it will take for Bitcoin’s price to shoot higher is an increased demand.

Bitcoin is the dominant cryptocurrency

Despite this year’s bear market in cryptocurrency, Bitcoin remains the leading digital currency by market cap. The total market cap for Bitcoin has been hovering near $110 bln over the past few months and represents more than 50% of the total cryptocurrency market. This figure shows Bitcoin is still the most sought-after digital token commanding the greatest flow of new money.

Over the past year, Bitcoin’s dominance has been in flux as bearish activity and the launch of new tokens induce market volatility. Bitcoin’s dominance fell to a low near 33% in January 2018 and has since recovered. Over the past two months, the token’s dominance has steadily increased to current levels as market participants flock back to the most stable and trusted digital currency on the market.

Source: Coinmarketcap.com



Description - Chart of Bitcoin price dominance with annotations

This figure is brought into sharp contrast when compared to the #2 and #3 digital currencies by market cap, Ethereum and Ripple. Combined, Ethereum and Ripple command less than 20% of the total market which makes them less attractive to new money seeking to invest in cryptocurrency. When the market comes back, and it will, Bitcoin will be the first choice as it has the greatest respect and trust among digital currency traders.

1. Bitcoin dominance November 2018 is 53%.

2. Ethereum dominance November 2018 is 10%.

3. Ripple dominance November 2018 is 9%.

How does this affect the Bitcoin price prediction 2018? If you look at the Bitcoin price prediction 2017, there is a compelling comparison to be made. In 2017, just before Bitcoin began its wild march to $20,000, the token’s dominance fell below 40% before resurging to more than 60%. Many analysts believe, and I am one of them, this year’s fall to 33% and rebound to 50% are signaling a rebound in Bitcoin price that only needs a catalyst to get started.

Regulation is the catalyst traders are waiting for

The catalyst traders are waiting for is regulation. Regulation and regulatory issues have been hanging over the entire cryptocurrency market for years and are the cause of the 2018 bear market. The war began last fall when China’s financial regulators moved to ban cryptocurrency, cryptocurrency trading, and ICO’s within China. The bear market was set off a month or so later when South Korea, a hotbed of Blockchain technology, made similar moves. Since then, South Korea has softened their stance, embracing Blockchain and digital financial securities, but the issue of regulation is far from being settled.

Source: CCN.com

Bitcoin Infographic

Description - Bitcoin’s potential to change the world, from CCN.com

The number one issue holding traders back today is the SEC, the CFTC, and US regulation. The SEC and CFTC have allowed the listing of BTC futures, but that is as far as they’ve got regarding the legal listing of Blockchain-based trading solutions in the US. The SEC has created a cryptocurrency czar whose job is to coordinate proper regulation of the market, but still, there is no framework, not even a hint of what may come.

Traders around the world are waiting for a Bitcoin or cryptocurrency ETF to be listed in the US. Many Bitcoin predictions see such a listing as early as this year, although the chances of that are getting slimmer by the day. The SEC has already reviewed and rejected over a dozen requests by money managers to list such an ETF, and there is yet no indication of when, or even if, a Bitcoin ETF will be permitted.

A Bitcoin ETF is on the way, traders need to be ready

A group of Blockchain industry leaders including fund managers, cryptocurrency developers, and hedge fund/private equity investors made a plea to the US Congress for clarity on cryptocurrency regulation. Their stance is that lack of regulation is far more damaging to the US investor than any risks with the technology. The plea resulted in Congress asking the SEC for clarification, and yet still no word.

The biggest hurdle for US regulation of cryptocurrency is a lack of regulated infrastructure; there isn’t any, or not very much, anyway. The good news is that Bakkt may end all that. Bakkt is a joint venture between the ICE (The Intercontinental Exchange) and partners.


The exchange is designed to support the purchase, storage, and trading of digital currencies across ecosystems and includes a digital clearinghouse for trades. The exchange is expected to launch its first products, new BTC/USD futures, in early December 2018 and seen as the stepping stone to a Bitcoin ETF.

The takeaway for traders is this: Bitcoin regulation is holding the market back, and news, for good or bad, is what will drive the cryptocurrency markets over the next twelve months. If the SEC puts the kibosh on BTC and cryptocurrency investing, ETFs, and other retail products, you can rest assured the cryptocurrency market will react negatively. If, on the other hand, a BTC ETF is approved (as expected), you can rest assured Bitcoin prediction and Bitcoin price forecast will turn overwhelmingly bullish.



Description - Bitcoin prices are expected to move higher in 2018 and 2019

My Bitcoin Prediction? It is only a matter of time before the US embraces cryptocurrency regulation and allows a BTC ETF to be listed. If that happens, my Bitcoin price forecast is this: Bitcoin will retest its all-time high near $20,000 and most likely break through to new all-time highs. Bitcoin predictions 2018 are a dime a dozen, everybody has an opinion of when and how high BTC will go. The only thing you need to know is that BTC is going to move higher, if not now, then very, very soon.

Source: https://u.today/bitcoin-price-prediction-for-november-the-market-is-wound-up-and-waiting

Bitcoin testing the curve support, Litecoin breaks below the minor trendline, Monero looks bad



Bitcoin testing the curve support

Yesterday's price range was pretty small. The price was above the orange area (an important level) and below it.



Currently, the price makes moves and it has broken below the all-important EMA’s, it has reached the curve support line and the March low level which also should start to work as a support. The Fibonacci golden ratio retracement level at 62 percent will indicate if we get a bigger or a smaller bounce upwards.

If we get a candle close below the mentioned levels, it would be the first sign of the bullish momentum gone. Our next major supports are the round number $6,500 and the strong support area at $6,460.

At the moment, altcoins also take this little hit but nothing remarkable. Watch those levels (curve support, round number, and the blue line as a strong support) and if the price breaks below then definitely stay out and wait for some better opportunities to enter again.

LITECOIN (LTC/USD) Breaks Below The Minor Trendline

Currently, the market takes some hit and so do altcoins.



Currently, Litecoin has made a break below the minor trendline which will indicate that the red box below the price around $57 should start to work as a support. If this level doesn’t hold and if BTC drops even more, then we could see a break below the red support area and the price approaching the next support level at $55, and that would be an important level. In this case, the price structure may change. This area is the last HL (higher low) formation area and if it breaks, bad things can happen.

At the moment, BTC is on the very important area and if it gets a bounce upwards, LTC will have a good opportunity to follow this move and the targets will be on the next round number at $60 and the strong resistance at $62. So, watch closely what Bitcoin does.

Take a look at MONERO (XMR/USD) Price Analysis, Oct. 10, 2018
Have a nice day!

It is very important to monitor market price and to stick with it and to hold your coins tightly till bull market price. Once you are done with it then you will have a huge profit at the end of your investment. Bitcoin is currently available on low price and perhaps it is from about 7 months the price is running down. Other Altcoins are also available on low price is now is the best time to buy it using less amount.

these reports are not enough for market analysis. Resistance point graphically stands weak. Don't expect a downward movement. will continue at this level. If there are five different consecutive moves up, the uptrend begins.

Bitcoin weekly forecast and Ripple possible scenarios



Bitcoin weekly forecast



Let's start with a weekly time frame. In the picture above, we have a curved support line which reflects the price over a period of time. It starts this February, and now we have touched it multiple times over the last weeks. Previously, when the price was approaching the trendline, it was rejected quickly and had to move sharply downwards and when the price has touched the curved support line after that, it has bounced upwards pretty quickly. But currently, we are waiting for the momentum with the volume. This week we will definitely see a bigger movement because the price is approaching the crossing area and is ready to make a breakout in either direction. In order to find out which direction is more favorable, we need to examine shorter time frames, too. However, during the last three weeks, the price has bounced upwards from the round number of $6,500 which works as a support. Note that there are more bullish signs on shorter time frames.



Let's take a look at a four-hour chart. As you might have already noticed, we managed to push through the trendline which was the last week major goal. Over the weekend, as usual, the price moved sideways because the weekends are historically with a super-low volume. Luckily, this sideways kick brought an important price action movement. On Friday, Bitcoin broke above the trendline and over the weekend made a retest and got a bounce exactly from the trendline which previously was a resistance and now becomes a support.

To get a move upwards, we have to break above the orange line, which is just above the current price. This level has worked multiple times as a resistance and if this level breaks, it will be the first sign of the bullishness. That would be a small step due to Bitcoin’s super-strong resistance and the major down-trendline crossing area position above the orange line. Crossing area is very hard to crack and we need a massive volume to accomplish that. If Bitcoin moves upwards, we can get the power to guide us through $6,767 and through the major down-trendline. Thus, the first major targets would be around $7,000 and $7,300.

In the four-hour chart, the Bitcoin price trades above the all-important EMA's which is a good sign if we want to see a movement upward. However, in the daily chart, the price is currently below the 50 EMA. It works as a resistance and matches with the orange line on the four-hour chart. The orange line is the first short-term level for bullish BTC.

Remember, the breakout can occur in either direction: above the major down-trendline or below the curve support. The major downwards confirmation is a daily close below the curve support and the round number of $6,500. The close will give us several “break below's”:

- Break below the curve support;
- Break below the round number;
- Break below the EMA's;
- Break below the minor up-trendlines.

Summary:

Weekly timeframe analysis indicates that the price starts to ‘think’ differently — three weeks around the major trendline without any dump are an indication.

The four-hour chart shows bullish signs such as trendline breakout and retest, but strong support levels at $6,460 and $6,500 have held the price nicely.

The correction to $6,460–$6,500 is possible; however, it’s not favorable to witness candle close below these levels. Specifically, it applies to a daily candle close because then the bullish momentum would be gone and the possibility that the bears start to control the market would be high.

RIPPLE (XRP/USD) Possible Scenarios

Since Sept. 22, the Ripple price has had consolidation between $0.45 and $0.6. Remember, last week we discovered  “Cypher” harmonic pattern and now it has completed. Currently, it got a bounce exactly from the ‘complete area’ at $0.475.



The price is again above the short-term counter trendline which is a good sign if the market stays stable. To get a full confirmation, we have to break the round number of $0.5 which works as a resistance. In this area, there is also an old support level which now transfers into the resistance level. So, the road to the higher prices is almost free. The only stop could be on the May’s low level at $0.544. This scenario could be very powerful if Bitcoin makes a breakout upward from the major down-trendline. In this case, the target is even higher and we can easily reach it into the June low level at $0.7.

Bearish confirmation would be a candle close below the previous low at $0.47 (below the short-term counter trendline). The first support would be the grey area, which was the support on Sept. 25, and after its crack, the major support would be at $0.4.

Take a look at Daily Price Analysis
Have a nice day!

Maybe you are right, because most investors today, seem to be more following the flow of trends that are developing at this time. But for most traders, price analysis using methods like this's very necessary. Even if you are able, you have to do it within 24X7.

Bitcoin is technically good to make another ‘leg’ upwards, Monero is getting ready for breakout, Ethereum is in trouble



Bitcoin is technically good to make another ‘leg’ upwards

Yesterday was bullish-day and the "Hammer" worked nicely as a bullish pattern. BTC price found a resistance from the trendline which is pulled from July 24. Several attempts in the lower time frames to break upwards have failed, and currently, it makes a healthy little throwback (movement downwards). Healthy, because after impulse wave (yes, this is tiny impulse) there is always a correction before we can start another movement upwards.



The current correction has founded a support from the golden Fibonacci ratio at 62 percent, and we discovered a very strong area on the chart between the $6,530-$6,550 (marked with the orange 'box'). This area has worked historically as a strong support and as a strong resistance and no single candle close inside this orange area, only powerful candles through the area up-and-down, this makes this area super strong. If the current scenario holds us, then there is almost a perfect starting point to go to the higher levels.

First bullish confirmation is a trendline breakout, if we get at least a four-hour candle close above the trendline then it could mean another leg upwards to the next strong resistance at $6,767.

Let's count down all the bullish price action criteria:

1. Oct. 3. we got a bullish candlestick pattern "Hammer"

2. Yesterday (Oct. 4) we got a nice impulse upwards

3. Current throwback has  found a support from the golden Fibonacci level at 62 percent

4. Current throwback has found a support from the super-strong area

So, technically Bitcoin is ready to break that trendline!

To confirm bearishness then the candle close below the orange area will guide us to the lower levels and the full bearish confirmation is then when we also get a candle close below the $6,460 (blue line).

Monero (XMR/USD) awaiting breakout

Monero looks a little bit suspicious and looks like it needs to wait a moment and for the opportunity to break upwards from the triangle.



Currently, there have been several attempts to break through the counter trendline, but it has held the price nicely. Slowly, XMR’s move into the triangle tip to explode and if Bitcoin makes a move upwards and it breaks the trendline then definitely Monero has waited the perfect moment to do the same. At the moment it trades above the 200 EMA on the four-hour chart.

The counter trendline and the 200 EMA make together a strong support area below the current price. So, the only way that we could see a Monero coming down is if the BTC can't break that resistance and starts to come down, a candle closes around $6,450. In this case, we can say that Monero comes down also but currently, doesn't looks like that.

For breakout from the upper trendline, there are two target areas at $128 and $140. Those are the recently worked resistances, and we would recommend to take out some profits in this area because around $150 is just hell. There are multiple monthly supports and resistances that you never want to be on Monero if we reach into this area. The bounce downwards could be probably massive if the scenarios matching each other.

Take a look at Ethereum (ETH/USD) Price Analysis, Oct. 5, 2018
Have a nice day!

About Altcoins we have daily analysis everywhere as we know that we use Litecoin, Ethereum and several other crypto coins best for investment as well so we are in daily discussion about it as well. Besides this Bitcoin is the first name when we discuss about crypto market we say the Bitcoin which is currently running stable by price. On the other hand other Altcoins are also in their low markets especially Ethereum.

this method seems to be no longer useful at this time because the prices that have passed let go but with your analysis this makes a lot of people aware of cryptocurrency price movements that rise and fall and must be brave to take risks.

Bitcoin got a bullish candlestick pattern, EOS shows some stability, TRON is almost ready to make a breakout



Bitcoin got a bullish candlestick pattern



Yesterday was a very important day to find out what we can expect the next days. We reached as low as the April level at $6,425 and after that, the price quickly bounced upwards between the round number and the strong support at $6,460. Basically, we touched three important levels below the current price and we got a bounce, that gave us a nice daily candle close which was again above the $6,500. It is a very good sign because we touched pretty low levels and still, the bulls manage to push the price upwards above the round number and this 'jump' gave as also a bullish candlestick pattern called "Hammer.” The hammer also indicates that we can see a reversal.



If we look at the four-hour chart (image above) then, after the daily candle close the price made a very powerful statement upwards. The close was above the EMA's, the volume oscillator MA (moving average) is nicely pointed upwards and most importantly, the altcoins followed this movement and they are also on the green side.

Currently, if we want to look the next resistances at the moment, we are on the pretty significant price area, the trendline area (pulled from July 24). The trendline and the latest resistance (orange 'line' above the current price) makes a crossing area. If we want to go to the higher prices then we have to break this crossing area. The break might open major resistance level at $6,767.

If we don't find that power and if the momentum doesn't last long enough then our well-known levels below the current price start to work as support levels. A daily and the four-hour candle close below the $6,450 will be the significant signs that those moves were just little ‘fakeouts’ and it confirms bearishness.

EOS (EOS/USD) shows some stability

EOS is currently on the short-term consolidation mode. After the September rallies, where it made new short-term higher highs, it had a little bit of a slow down.



At the moment we could see that it is on the chart pattern called "Triangle" and the triangle tip is a bit far from us, which indicates that we might see a small movement from EOS.

Positive signs are: we still have higher lows on the price structure and the current price is above the EMA's. This will show that it slowly start gaining some power to push through the triangle and this breakout from the triangle is also our main focus.

To make a breakout, we have to fight with the triangle trendline and with the February low which works as a resistance, but that's not all because after the breakout from the triangle comes the round number $6 and then the latest peak (lower high) will start to work as a strong resistance level. So, pretty heavy levels above the EOS and to break through, firstly, BTC has to make a breakout from the trendline.

Take a look at TRON (TRX/USD) Price Analysis, Oct. 4, 2018
Have a nice day!

I think the analysis that you are doing for now will not be able to provide clear information about the upcoming increase in cryptocurrency prices, such as yesterday's bitcoin price which can be as expensive as it is not unexpected. All predictions are missed and predictions are not right predict cryptocurrency price movements.

Bitcoin is on the edge, Litecoin is on the upwards channel, Ripple possible scenarios & targets



Bitcoin is on the edge

Bitcoin price slides on the triangle trendline. As you’ve seen on the four-chart, we don't have a candle close below the important trendline, the triangle trendline. Yesterday, the price touched exactly the round number area at $6,500 which worked nicely as a support, and it bounced quickly back to the triangle. This showed that buyers were alerted and they’ve caught this move pretty quickly and managed to push the price back above the trendline. After that, we have small green candles, but those small green candles are slowly climbing above the EMA's. We still have a golden cross between the 50 and 100 EMA's.



If we look at the daily chart again, we got a bullish candlestick pattern called "hammer" (hammers are everywhere), this is the second hammer in the three days period, and it shows that buyers have the power to hold the price up even if sellers tried to push it down multiple times.



Now, here is a question- do the bulls have the power to hold the price up and can they start climbing higher or are they out of steam? Maybe the bears are finally winning the battle, and soon we will see a candle close below the trendline? The candle confirms that the bears dominate the market at the moment and we can possibly witness a leg downwards. We are really on the edge, and anything can happen, but technically it looks more bullish than bearish.

Litecoin (LTC/USD) is on the upwards channel

Litecoin looks 'healthy' with the upwards channel and with the clean higher highs (HH) & higher lows (HL). Currently, LTC price has found a good support area from the round number at $60. This area matches exactly with Fibonacci retracement 50 percent. Two times tested ($60) and two times it got a bounce upwards. The EMA's are around the round number area and that makes this support level even harder to break.



We have a golden cross between 200 and 50 EMA, which also indicates that we are on the bullish mode but at the moment. In order to get a leg upwards, we have to break the blue line, the strong resistance area.

Lately, six attempts failed, and it shows that if we want to be bullish then firstly, we have to take down the blue line which works as a resistance. The target would be slightly below the $70 where the minor trendline and the channel trendline crossing area plus the round number are. All those might work as a resistance, and the first short-term target should be there.

The bearish confirmations would be a candle close below the round number $60, a candle close below the channel trendline (counter trendline) and probably the first stop is around $54-$55. These are the latest support level and previous higher low.

Take a look at Ripple (XRP/USD) Price Analysis, Oct. 2, 2018
Have a nice day!

Bitcoin is on the big “Ascending Triangle”

Currently, it trades between the two blue lines. Above is the resistance at $6,767 where BTC has tried to break out several times, one attempt was successful but let's call this a fakeout. The second one is below the current price at $6,460 which works as a support. On  Sept. 26th and 27th, it worked nicely as a support and it holds that price very nicely. Over the weekend, we touched it again and got a bounce, but this time, this level is much stronger than before because in this area we had the trendline and the golden Fibonacci level 62 percent crossing area which makes this price level much stronger to break through.



Over the weeks, the chart has drawn a bullish pattern called "Ascending Triangle" which will indicate that we might see a breakout upwards. However, we always have two breakout opportunities from the triangle, but this 'ascending' means that we have an edge to break upwards. Also, we have nice and clean higher highs and higher lows on the price structure which indicates a little bullishness.

Let's talk about a couple of scenarios:

1.  In general, during the weekends there is very low volatility and we needed a lot of power to make a breakout upwards. We didn't catch that power and the price is still in the triangle. At the moment we trade above the important EMA's and on the four-hour chart we got a bullish "Hammer" candlestick pattern and the hammer low bounced upwards exactly from the trendline and from the EMA's. If we see a continuing move upwards in the near future and if we manage to break above the triangle upper resistance line at $6,767, then the triangle pattern shows us that the ideal target point would be around $7,300 where several weekly resistances are.

2. In the bigger picture, the overall trend is down and that's why we think it is simple to break downwards. If we see a candle close below the blue line and below the triangle trendline, let's say around $6,420, then it would be a bearish confirmation. It confirms that the bullish momentum is gone and the strong support level doesn't work anymore and the next stop would be on the major counter trendline which is around $6,300. Be careful in this scenario!

Ethereum(ETH/USD) is still on the "Rising Wedge"

As Bitcoin, Ethereum trades currently between the two blue lines, support, and resistance. The resistance line at $236 has been before a support and now it becomes a resistance.



Several times it has tried to break above that blue line, but those attempts were unsuccessful. To break through this level, we have to fight with 200 EMA which starts to work as a strong resistance on the four-hour chart.

Ethereum shows nice short-term higher highs and higher lows since Sept. 25. This could show us that we have market structure and power to push the price upwards from the mentioned level and the next target would be around $260 where the minor trendline is.

The current support line has been historically a good S&R level and now it becomes a major support level again. To make this level even stronger then we trade above the 50 and 100 EMA's which should also start to work as support levels. If we break below that blue line and if we break below that major counter trendline then we have a bearish confirmation and the bearish confirmation is even stronger because we are on the continuation chart pattern called "Rising Wedge.” The overall market trend is down and if Bitcoin makes a breakout downwards from the triangle then Ethereum definitely makes a breakout downwards from the "Rising Wedge" and probably the next stop would be around $200. So, stay alert when you see at least a four-hour candle close below the major counter trendline which also breakout from the continuation pattern "Rising Wedge.”

Take a look at Cardano (ADA/USD) Price Analysis, Oct. 1, 2018
Have a nice day!

It is important to study the prices of coins daily where you have investment because you will have to stick with it as long as you are holding. You will decide to sell according to this monitoring of price that will show increase and decrease in price, once you noticed jump in price then it is up to you if the profit satisfies your desire then you can sell it. On the other hand you can wait for some more time in order to get higher outcome.

Bitcoin approaching the targets

After we mentioned the neckline double retest on yesterday's post, BTC made a very strong move upwards. It breaks above the well-known resistance levels and more than that, now we are above the trendline which is the upper channel trendline and the current price is $6,720. Bitcoin reaches almost to our mentioned first target at $6,767 which is also historically a very strong resistance level.



On the one-hour chart, we have a golden cross between the EMA's and it should be a pretty good statement. Further, we have to wait and watch how the "Ascending Triangle" plays out. The ascending triangle is a bullish chart pattern which indicates that the price has a bigger advantage to break upwards, plus we have this golden cross which should support that move upwards to the higher levels and those higher levels are, almost immediately the $6,767 strong resistance and our major target would be the $7,000. There are several price action criteria crossing areas: the round number $7,000 and the minor trendline crossing area and there is the May low level which also starts to work as a resistance, but firstly we have to see a break above the ascending triangle and break above the strong resistance.

If BTC price doesn't find that power to go upwards and it breaks below the ascending triangle and breaks below the current trendline, then it will be a sign that we might see a little throwback (move downwards). If we start to make a little throwback then technically a good opportunity for reversal would be around $6,570, there is the short-term up-trendline, different EMA's starts to work as the support and different Fibonacci levels begin to work support levels. The bearish sign/confirmation would be the break below the short-term up-trendline.

Litecoin (LTC/USD)- on the upwards channel & the possible targets

Litecoin is flying after the third touch from the major counter trendline! If we watch the top 10 altcoins, then LTC was one of the top gainers yesterday.



Currently, LTC price is on the upwards channel with very nice and clean higher highs and higher lows. It broke above the round number $60 and above the blue line which was a resistance. If we start to make a move downwards, then those levels become the supports.

Speaking of further resistances, then there is the minor trendline and the round number $70 at the crossing area. As you already know those crossing areas are always harder to beat and we have to watch it closely.

Above $70 we have the strong levels with very low gaps. In this area we have several monthly lows and even weekly supports and resistances, so, if the rally continues then, those areas are on the target list. But first, we have to break above this channel upper trendline which currently works as a resistance.

Take a look at NEO (NEO/USD) Price Analysis, Sept. 28, 2018
Have a nice day!

if you can analyze bitcoin and altcoin it looks like you can determine what price movements will occur on the coin which means you will be able to determine the right time to buy and sell coins and can make you get a lot of profit.

actually this bitcoin price movement is very unpredictable due to demand and some news in the media can also influence cryptocurrency movements but maybe the graph analysis that you provide can help new traders to determine the right time to buy cryptocurrency and can sell cryptocurrency that you have but it can't dependable forever

I think the graph analysis created by the movement of the price of bitcoin and altcoin is very profitable because by analyzing this can determine the right time to buy and sell coins and can determine what movement will occur in the next movement.

Bitcoin important areas what you need to watch, Dash is under the major trendline, Ethereum has a breakout from the bearish chart pattern



Bitcoin important areas, what you need to watch

Yesterday, we discovered a bullish chart pattern called "Inverted Head & Shoulders", the right and the left shoulders were located precisely on the perfect Fibonacci retracement level at 62 percent, and after we made a break above that blue support/resistance line where the price made a pretty nice jump upwards. From the price structure perspective, this bounce occurred from a 'healthy' place, because Bitcoin made a short-term HL (higher low) which is very important if we want to see a short-term bullish BTC.



So, this pattern worked almost perfectly and BTC price reached $6,560. However, now it has a second phase, we started to make a retest to the pattern neckline. Overnight we got a retest and after that, on the one-hour timeframe, it formed a bullish candlestick “Hammer” pattern, with a little bounce upwards above $6,500 where the momentum stops. Currently, we are approaching for the second time this strong support area (blue line) and the Fibonacci 38 percent retracement area but let's see if this level holds the price because there are technically some bad signs. We are below the short-term up-trendline and this could start playing a role in this bounce.

Technically it is ready to go higher if we get a bounce from the strong support level but there is nothing clear before we are above those well-known resistance levels ($6,500 the round number which works as a resistance and March low level which also starts to work as a resistance, plus we have the EMA's above the current price, it should confirm bullishness if we can make a break above them).

If BTC manages to break above those resistance levels and it gets a close on the green box, then we are out of the risky area which will indicate that we might go and test the higher levels.

The first target would be the strong resistance at $6,767 and the second target would be around $7,000. Between those levels are the well-known Fibonacci level 62 percent around $6,900, lots of people are guessing that this might be the place where we go down again, but I think opposite: this is just so well-known price level, everybody knows it and if it reaches into this area then it flies above.

To give to you bearish confirmations then it would be those red 'boxes.’ The first one is a break below the major counter trendline, if we get a break below the trendline then it will show that the short-term up trendline doesn't work as is should and the downward pressure is still pretty massive and the second confirmation is a close below those strong support blue line. If the price reaches there, then please be cautious because we might test the very low levels. Try to stay away from the market if it happens.

DASH (DASH/USD) is under the major trendlines

The market has shown some ups and downs movements and so has DASH.

Last week, DASH was technically pretty good but it didn't catch that big momentum and currently, it is in a bearish area. It is below both major trendline, below the short-term down-trendline which is pulled from July 20th and below the major counter trendline which will indicate that the upwards momentum is over. We could see a pullback if the market doesn't make any fast recoveries. Also, DASH trades below the EMA's which also is not a good sign.



However, alongside these bad signs, we also have a good sign. The current short-term bounce comes from the Fibonacci 62 percent retracement level which still printed a higher low (HL) onto the chart. So, if we stay above this orange area, then all is under control, but if we can't hold the price above that mentioned level, we might see a bigger correction downwards.

To be bullish, we have to break above again those trendlines or at least above that trendline which is pulled from July 20th. 'The road' upwards is pretty hard but if the market starts a bull run then all the altcoins start a bull run but if the market stays stable then DASH is on the trouble and definitely, it needs a big volume to break above those trendlines and EMA's.

Take a look at Ethereum (ETH/USD) Price Analysis, Sept. 27, 2018
Have a nice day!

Bitcoin finds a short-term support from the Fibonacci level

Bitcoin price is almost on the same price level as yesterday but we have gathered more information from the current level, and currently, those signs are short-term bullish indications.



Yesterday, the lowest point was around $6,330 where the price touched the perfect Fibonacci retracement level of 62 percent and bounced upwards. After the bullish bounce, we got a bullish candlestick pattern called "Marubozu," which will indicate that we may see a continuation move upwards. Bitcoin has broken above the April low level and is now fighting with a strong resistance area around $6,460.

From the price structure perspective, this bounce occurred from a 'healthy' place, because Bitcoin made a short-term HL (higher low) which is very important if we want to see a bullish BTC.



In the shorter timeframes, we could see a nice bullish chart pattern called "Inverted Head & Shoulders.” It shows that we have the momentum from the perfect Fibonacci level and it works nicely as a support level. BTC price also made a breakout from the neckline and technically it is ready to go higher but there is nothing clear before we are above those well-known resistance levels (Blue line- strong resistance, $6,500 round number which works as a resistance and the March low level which also starts to work as a resistance).

Monero (XMR/USD) shows overall strength

Monero shows us a pretty smooth and steady climb upwards. It has made very clean higher lows which will indicate that the current short-term trend is strongly upwards.



At the moment, XMR price is below the main down-trendline which works as a resistance, also there is a 50 & 100 EMA and they do the same thing.

Like you know, we have clean higher lows and also we have a bullish indication from the EMA's. On the chart you can see that the 200 EMA is below the 100 EMA, this means that we have a golden cross between the mentioned EMA's and this is a nice indication if we break above the major trendline that the climb will continue. The first targets would be the nearest resistances above us (green 'boxes'), the first one is around $128 and the second one is around $140.

Speaking about support levels and bearish confirmations, then the 200 EMA is below the current price (currently, this is a pretty rare case that the price is above the 200 EMA and this is a pretty strong sign that the coin has the power to hold the price after those dumps) which works as a support. If we break below that then we will have a major counter trendline around $105-$107. The trendline is a remarkable spot where we want to see a bounce upwards if we want to stay bullish, but if we got at least a four-hour candle close below that trendline then it would be a bearish sign and the down pressure is very strong. At that point, you have to be cautious.

Take a look at NEO (NEO/USD) Price Analysis, Sept. 26, 2018
Have a nice day!