Topic: Daily price analysis BTC + ALTCOINS - page 12. (Read 3071 times)

04/03/18 BTC Price Leaves Danger Zone, LTC Still Kicking, XRP Abandoned by Investors

Don’t be fooled: early signs of market reversal could be just another bears’ trap

By the beginning of Tuesday, the situation on the cryptocurrency market remains uncertain. Despite the fact that Bitcoin - the indicator of investor sentiment - is hovering near a key level with murky prospects, no tension or panic is evident in the media or on the charts. It seems that market participants have learned to accept the things they cannot change, and are now patiently waiting for a sign to either buy or sell, without showing any initiative.

Market indicators are stable, no sign of rapid change

Most positions show a slight increase in price, but after updating their lows over the weekend - this is no more than preparation for possible growth. We also find confirmation in key market indicators: the total capitalization grew just by $5 bln to $365 bln, Bitcoin dominance is consistently over 45.5 percent.

Top 10 altcoins remain calm, while Verge shows surprising growth

The top altcoins followed the main asset’s growth, increasing 1 to 3 percent. Stellar and Cardano are ahead of the market with increases of 8 and 5 percent, respectively. Beyond the top 10, there is more activity: VeChain grew an impressive 25 percent, NEM and BNB - by 10 percent. Yesterday’s leader Verge not only maintained its position, but also capitalized on its achievements, adding another 13 percent.

BTC/USD

Bulls managed to fulfill the task that we set before them yesterday - not just to keep the price at $7,000, but to make an attempt at $7,200. There’s more good news - almost all of Monday, Bitcoin price lazily dragged along the boundary of the descending channel, but was finally able to overcome it at the end of the day. Now, the main resistance for buyers remains the range of $7,200 - $7,300.



As is often the case, good news is followed by bad news, and we do have some. The main issue of concern is growth without volume. The amount and size of transactions is incomparable to what we saw over the weekend. Since April 1, the bears have not shown their influence. Because of this, we are under the impression that big players let go of the price for a while, letting the little guys enjoy the market game.

If buyers manage to hold the price above $7,200 today, with or without significant volumes, and if we see some real action at this level, then we can start discussing a possible trend change. In this case, the next target for bulls will be the range of $7,500 - $7,700. Until then, the downtrend scenario remains relevant, $ 6,000 is still calling the bears, although their task is becoming much more difficult.

LTC/USD

Despite Litecoin creator’s cruel treatment of his offspring, there is still life in the asset. At press time, LTC price is $120, while the day’s minimum value was $110. On the chart, we see the realized "double bottom" figure, which allowed buyers to confidently push off the support line.



Further lateral movement led to a timid break of the boundary of the nearest descending channel. If Bitcoin goes up, the first buyer target will be the level of $130, which gets a double confirmation in the form of the 0.382 Fibonacci extension and the mirror resistance.

But if the main asset continues on the path to $6,000, Litecoin price is likely to form a “triple bottom” at the level of $110 and then, if there is no rebound, sellers will move on to the psychological target of $100.

XRP/USD

During the weekend, the price of Ripple fell to $0.45 - this is the minimum value since mid-December 2017. The problem with volumes is even more crucial for XRP than for Bitcoin. The last surge in buyer activity was in the beginning of February 2018, and since then investor interest has been falling steadily.

This is indicated by the volume profile: for several weeks, the price has been below the last level with a significant amount of transactions - $0.62, and buyers have not made any attempts at an upward break.



In case of reversal, the first major target for buyers is the range $0.59 - $0.62, which is located between the 0.5 and 0.618 values of the Fibonacci expansion and coincides with several mirror levels. With a high degree of probability, the bulls will not be able to get any further on the first attempt.

With negative developments, the rate is unlikely to drop significantly, because XRP has suffered more than most other assets. If buyers are unable to form a “double bottom” from the level of $0.45, we believe the pain limit of investors to be at $0.4.

Source: https://cryptocomes.com/btc-price-leaves-danger-zone-ltc-still-kicking-xrp-abandoned-by-investors

it makes sense. Let's wait a bit

Hey guys.
I've read today that thousands of tiny but identical orders were opened, which keep against growth at the market. And it's the work of the whales. They have a lot of money to invest so this process will continue for a while. And then fast-moving reverse will begin. What do you think?

Yeah I feel we are close to new "crazy rollercoaster ride" 

04/02/18 Reversal is Delayed: BTC and ETH Update Lows, XMR Fights Against Trend

No fun on April Fools Day. Bitcoin updates local price minimum, accompanied by the other assets

The beginning of another spring month did not precipitate a full-fledged arrival of spring to the crypto-currency market.

The agonizing yearning for warmth must go on, the sky is still covered with clouds, and Bitcoin price continues to update local lows, encountering no significant resistance on the way.

Even some of the altcoins which were blooming like early spring flowers last week do not show any attempts to go against the market (with one exception).

BTC dominance sets new records as altcoins fall faster

The total capitalization of cryptocurrencies fell to $260 bln, which corresponds to the values ​​of mid-November 2017 - the time before BTC and altcoins went on their crazy rollercoaster ride.  In the top 10 assets, nothing interesting is going on - for most positions, prices went down an average of 5 percent. During the weekend, Bitcoin had reached a minimum of $6,430, and at the time of writing, it is fluctuating around $6,900. Its dominance continues to set yearly records and by Monday increased by another two tenths, to 45.7 percent.

Verge is the only asset to beat the market

The exception that we mentioned above is Verge. In 24 hours, the price of the asset grew by 20 percent, which is an absolute record among all cryptoassets.

The interest of buyers is being encouraged by the CEO’s announcement of a mysterious partnership, the details of which will be disclosed on April 17. Will developers be able to meet community expectations? We will find out in 2 weeks.

BTC/USD

Before proceeding to a detailed analysis, we would like to examine the enlarged Bitcoin graph on the daily price chart.  Three important facts emerge: BTC is in a long-term downtrend since December 2017, the uptrend line constructed on the September 2017 and February 2018 lows was broken, and the trend which was formed back in July 2017 is being tested right now.



On the four-hour chart, we see that the price is squeezed between two uptrends, but Bitcoin has no reliable support anymore.

Just to maintain the current levels, buyers must keep prices above $7,000 today, and to transition go growth, they will have to storm $7,200.



So far, nothing is indicating that the bulls have enough strength for the push. The situation is exacerbated by the proximity of the boundary of the downtrend, which is acting as a resistance.

In the course of the day, Bitcoin is likely to trade in the range of $7,000 - $6,600, but the repeated breaking of the boundary of the lower uptrend will confirm the bulls’ weakness and allow the bears to begin moving toward $6,000. The Fibonacci grid, indicating a value of 1.618 at $6,110, is just one of the possible constructions based on local triggers, and all of them will point to the zone of the previous February low, so the goal of the sellers remains obvious.

ETH/USD

Ethereum continues to outpace the market in the rate of decline - last Sunday the price dropped to $360. The rebound amounted to just 5 percent, and by press time the asset is trading at $380.

Confirming its love for triangles, ETH is once again forming a figure of technical analysis, the full activation of which will lead the bears to $315.



This level coincides with the mirror resistance formed at the time when ICOs were in their heyday, and Ethereum was relatively young and promising. Despite numerous attempts (5 of them), bulls could not break the boundary of the descending channel, which indicates their extreme weakness. On the way to $315, the price will encounter a few more supports, the main one being at the level of $330.

In order to stay afloat, buyers have to keep the price above $390, and then gain a foothold at $415. For now, this seems practically unattainable.

XMR/USD

Monero buyers do not cease to impress us with their perseverance and ability to find resources to support the asset at a crucial moment.

While most of the coins have updated local lows of the end of last week, the price of XMR went right instead of down - not a bad result in a falling market.



In the event of a reversal, the laterally traded range of $160 - $180 can be a great starting point for price growth to $200. However, since the market is showing no signs of reversal, we continue to view this zone as support. In the context of further decline, the target remains the same - $150, coinciding with the minimum of the February correction.

NEO/USD

The indications that we used in the March 30 review not only remain relevant, but confirm our previous conclusions. The downtrend line, for lack of any better application, became the support for the price of NEO. It was from this line that NEO rebounded on Sunday when Bitcoin reached its minimum value. We believe that buyers can count on this support going forward.



The mirror level of $42, on the contrary, lost some of its strength, and the closer the downtrend line approaches it, the less value it will have for supporting the price. Therefore, the next target after breaking through the trend could be $40.

Hypothetically, in case of growth, the main resistance still the level of $50. We cannot change our opinion about the attractiveness of NEO for medium-term investments until the price gains a hold above the boundary of the previous upward trend (green line).

Source: https://cryptocomes.com/reversal-is-delayed-btc-and-eth-update-lows-xmr-fights-against-trend

it is very strange they continue to put pressure with various news. But I can still use everything even facebook.
this convinced me that they all agreed to make a bad situation to monopolize the price.
everyone stays, let's fight this false news.

Yeah mailchimp also banned crypto, stupid monkey.
Don't worry guys, let's wait for more?

Media continues to ban the advertising of ICO and various cryptocurrency products. google, twitter and then linkedin will do it.
then some whales in Japan continue to sell bitcoin so that Bitcoin prices continue to decline.

03/30/18 Bears Take Market Down; BTC and XMR Struggle, ETH and NEO Share Unlucky Fate

Market is red, investors are blue. Bitcoin is down and altcoins are too

We begin our end-of-week market review with a heavy heart. In the last few days, falling prices did not find support from the bulls at key levels, resulting in many assets updating lows of not just the March, but also the February correction. As is often the case in such situations, the activation of protective stop-losses placed by investors at purchase price levels accelerated the fall even more.

Bitcoin dominance rises again as situation remains critical

Despite the fact that recently the correlation between the main asset and some promising altcoins has been decreasing, in a critical situation Bitcoin continues to set the pace for the entire market. During Thursday’s trading, the minimum price of BTC was A$6,660, which is 13 percent less than the previous day. Predictably, dominance grew - to 45.5 percent, which is a new record for 2018.

Bitcoin Cash hurt by OKEX closure

The rate of decline in the price of altcoins is largely in line with Bitcoin. In the top 10, average losses were in the same 12 - 15 percent range. Ethereum and Litecoin are the worst off, decreasing by 15 percent each and confirming our theory about their loss of investment potential. Bitcoin Cash lost 17 percent, affected by the closing of all trading pairs in BCH market on the OKEX exchange. EOS is still doing better than the rest, its price falling just by 6 percent.

BTC/USD

Given the scale of the fall, as well as the proximity to the minimums of the previous correction, we are compelled to switch to the daily price chart. The main cause for concern is the breaking of the long-term uptrend, formed back in July 2017. Bitcoin buyers showed some activity near this important level of support, but it was not enough to initiate a reversal yet.



In the end, the fall was stopped only by the mirror level from Feb. 5 - the day preceding the culmination of the global correction. Today, bulls have a chance to form a reversal candle “hammer” trend. The ideal scenario in this case - a foothold above the boundary of the ascending channel and testing the level of $7,650, which coincides with the 0.786 Fibonacci retracement. However, so far we do not see a surge in buyer activity, so we can not view this scenario as the default one.

In case of continued decline of the fall, the target for bulls today is $5,900- $6,000, coinciding not only with the strong mirror level, but also with the 1.618 Fibonacci retracement. In any case, until there is confirmation of the turnaround, we strongly recommended that readers  refrain from trading.

ETH/USD

A month ago, it was hard to imagine the asset with the second largest capitalization falling even to $500, and today it is trading at $380. It seems that if there is no global market reversal in the very near future, we will see Ethereum at $300 - fair price during the second half of 2017.



At the time of writing, the price almost broke the long-term uptrend, which is a very dangerous sign for investors. Given further development of the negative tendency, in free fall ETH will easily reach the nearest significant mirror level $350.

A positive scenario would involve gaining a foothold above the boundary of the ascending channel, with subsequent testing of the $450 level. Medium-term investors should start thinking about increasing long positions no earlier than the price reaches this value.

XMR/USD

Very often, assets that hold up better than the market during a global decline, there comes a critical moment when fear prevails and investors begin to actively record losses before they get too big. But Monero’s situation does not look like panic sales. The coin is trading at a price of $163 near the mirror level and the 0.786 Fibonacci retracement.



The key support for XMR today is $150 - the price has rebounded from this level six times already. With a high degree of probability, buyers will meet the asset at this level. In case of a market reversal, the growth targets will be $175 and $190, respectively.

NEO/USD

NEO is not doing well. At press time, the coin is trading at $49, which is already slightly lower than the previous minimum, and significantly lower than the minimum of the February correction. It seems that due to decreased interest in ICOs, the asset is suffering a fate similar to its older brother Ethereum.



If there is no quick rebound, then the price will break the long-term ascending channel. In this case, the decline targets are $42 and $36, with the possibility of a brief stop at the boundary of the mirror level, marked in red. There is no sense calculating growth scenarios for NEO at the moment, but the key level for bulls is now $60.

The link: https://cryptocomes.com/bears-take-market-down-btc-and-xmr-struggle-eth-and-neo-share-unlucky-fate

We try to do our best, the next review is coming

Hi Danny, I really like your charting, very well explained. I also admire the posted analysis in your blog. I guess I need to condition my self to become half bull and half bear.

I'll be watching your future posts, I am bullish by the way.

I read tradingview today, we are getting closed to the turning point. Be ready they said. Should we?

I can remember that BTC raised in the moments when we didn't expect, and I am sure next time will be the same. What do you think?

I really laugh with your opening post, as it couldn't be more accurate for the majority of speculators out there. I see you are actually going for a serious analysis of crypto markets and I respect that, because I usually try to do the same. The problem is that we just keep having so many "fake" traps that I really think there is a lot of manipulation going on. The trend is negative right now, and you can probably only play for short bounces. The market is not going to explode anytime soon in my opinion. We will continue seeing a down trend, followed by small bursts simulating recovery, that will just lead to another crash.

Not saying to sell bitcoin, because I won't be selling mine, jut saying that trading is very dangerous right now, in my opinion. From a fundamental point of view, there is not way for the market to keep this downtrend. Bitcoin is getting better so it just has to turn around in my opinion, but that will only happen with real adoption, and that will only happen when we start seeing good LN solutions out there.

I think that is good. I was preoccupied with Forex, I was able to get there by technical analysis, but I do not know that this mechanism works in cryptocurrency units, because it is so easy to pump-dump here.

What can you say about fundamental reasons for current movement? What news are most dominant?

03/29/18 No Reversal for BTC, No Love for LTC and XRP, but XMR is Looking Good

The middle of the week has passed, but the market is still undecided on the direction of further movement. Once again, we see a tendency of declining trading volumes, although some assets are behaving abnormally, as we will discuss below. It seems that the players are expecting some kind of call to action, but it won’t appear out of nowhere — either bull or bears will have to take the initiative.

Market cap is stable despite varied altcoin activity

For the third day in a row, the total capitalization of all crypto assets is fluctuating around $300 bln. Some altcoins continue growing — just in the first hundred coins, there are five that have gained more than 20 percent in 24 hours.

Overall, about half of the top 100 assets are green by the end of Wednesday. Bitcoin dominance is still 45 percent, supported by a slow but steady squeezing of juices from assets with the highest capitalization.

BTC/USD

Our indications for Bitcoin remain relevant, but several new elements have emerged. First, at the beginning of Wednesday, the price finished forming a bullish wedge. The price’s exit upward from the figure was accompanied by a significant increase in trading volumes. As a result, the price reached $8,100, and the bulls were already reaching for champagne - but the maneuver turned out to be false, once again.



After some fluctuation, everything returned to normal, namely - the level of $7,850, a sort of magnet for the last few days. Yes, we see long shadows on hourly candles, and yes, price lows are in no hurry to be updated, but the fact remains - there are no clear signs for reversal yet.

The key support for BTC remains the same - it’s the level of $7,600 - $7,660. Our recommendation to buy the asset at these prices with a short stop-loss remains in force.

LTC/USD

Litecoin just can’t please investors, and no reasons for joy are foreseeable in the future. At the time of writing the asset is traded at $130, huddling near the support line and clearly trying to fall one level lower. The level of $125, which we wrote about yesterday, received another confirmation - if the rate of decline remains the same, it will coincide with the boundary of the mirror level, to which the price was sensitive as early as December 2017 (marked by an orange line).



In the case the "support" is broken, the bears’ goal of $115 is still relevant. Of course, such a decrease is possible only in case of negative Bitcoin influence, since the news of LitePay failure has already played out and no longer puts pressure on the asset. We will periodically return to the analysis Litecoin price, but more out of respect for one of the oldest altcoins.

XMR/USD

Monero is still clearly following along the parabolic trajectory that we indicated yesterday. There are almost no long red candles, while buyers showed themselves in full force yesterday. We see a huge purchase volume, confirming the interest of investors and, perhaps, the entrance of smart money into the position. We observed something like this on the NEO chart earlier.



This pleasant picture of growth can be spoiled by the fall of Bitcoin, which is more than likely. Meanwhile, the level of $195, from where a large number of long positions was acquired, is a key one, but not the most reliable. Much more solid support is offered by $188, coinciding with the 0.786 Fibonacci retracement.

If there is a top altcoin which is an attractive investment now from the point of view of technical analysis - that coin is Monero. In the event that these decline targets are achieved, we recommend buying, with a stop-loss of course (in the current market situation, there is no other way).

XRP/USD

In the past few days, Ripple has not stood out in any way - the price didn’t make any sudden leaps, trading volumes remain consistently low, the lateral support level is almost broken through. We expect a further price decrease to the level of $0.55.



There is no talk of growth at this point. XRP has been in a downtrend for a long time and there have been no signs of reversal. Most likely, even after the beginning of global growth (which is sure to happen, one just needs to be patient), Ripple will be one of the coins trailing behind. We recommend that readers refrain from trading.

The link: https://cryptocomes.com/no-reversal-for-btc-no-love-for-ltc-and-xrp-but-xmr-is-looking-good

I noticed EOS has gained not only against other cryptos but also against fiat these last few days. It is being listed on more exchanges so perhaps that is giving it a boost.

BTC is stable, some altcoins rise. The worst one is ethereum for sure  I think this is difficult time to make decision regarding investment especially for new investors.

With the existence of the results of analysis from the OP which is so detailed and very hit the target. Especially on the subject that is happening right now. Should we make as a consideration so that we aren't wrong in taking action.


The full support of the Chinese government and its citizens has made Neo grow more hyperactive and has a high resistance to the global decline.