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.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.
BTC min price on Thursday was $6,377, wasnt it? 
Topic: Daily price analysis BTC + ALTCOINS - page 6. (Read 3071 times)
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.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.
Bitcoin Cash, Litecoin, Neo, IOTA, QTUM Flat, But Changes Near: Price Analysis, July 12
For top 20 cryptocurrencies, the next step is around the corner
The crypto market “was sleeping” on Wednesday as nothing serious happened. Most of the major cryptocurrencies remained flat as buyers and sellers have found a balance. However, this situation is likely to change in the nearest future.
There are no events to affect coin prices currently, but we are going to mention a couple of interesting news here. The Korean Blockchain Association has tested local exchanges and stated that 12 major trading places have a high-security level. It is important to mention, that the majority of those exchanges were subject to hacker attacks in the past.
McAfee’s war against HitBTC still rages on. He has lost the first round as his verbal calls remained almost unnoticed by the crypto community. Famous coins and ICOs’ oracles decided to make another round of war, but this time, McAfee and collected all the information from the victims of this exchange in order to start a legal procedure.
Bitcoin Cash (BCH/USD)
Bitcoin Cash has broken its uptrend on Tuesday-Wednesday and declined. The currency pair added almost nothing in the past 24 hours as we have a very narrow flat situation on the chart. It is hard to say whether bulls or bears are going to take control over the market.
The currency pair has broken through the green ascending trend line and successfully tested the support area at $720.1. It stays below this level in the moment of writing. The currency pair is close to June’s lows but it is hard to say currently whether BCH/USD is going to reach them or reverse from the current position.
We give a chance for both scenarios on Thursday as there are no signals or even hints on future price fluctuations currently. We think that bears still have power and control over the market and are able to push Bitcoin Cash to June’s lows. Perhaps, this scenario is vital.
However, bulls prevent them from smashing the price currently. Buyers also have a chance to reverse the situation in their favor.
Litecoin (LTC/USD)
Litecoin fluctuated in a wider range on Wednesday. Litecoin added half a percent in the past 24 hours, but the situation remains neutral. Neither sellers nor buyers control the market currently.
Litecoin has successfully tested the ascending trend line on Tuesday and has broken through the support area at $78.62 later. The currency pair currently stays below this level. There is a kind of bearish flag pattern on the four hour chart.
If the flag works, we think that Litecoin will be able to test June’s lows in the nearest future. The target for the currency pair lies at the support area of $73.28. This is the first and nearest target for LTC/USD.
The alternative scenario for the currency pair is growth towards the resistance area at $84.44. However, we think that this one is less probable in the nearest future.
NEO (NEO/USD)
NEO stopped declining on Thursday. The currency pair is flat currently. NEO/USD has lost almost two percent in the past 24 hours. However, the situation remains neutral as bulls and bears have found balance.
NEO has broken through the ascending trend line and declined towards the support area at $32.31. The currency pair attempted several times to test this level, but bulls still hold their positions. There are no signals currently.
As for the scenarios, there are two of them. Bears are able to push NEO/USD lower targeting June lows at the support area at $27.78. This bearish scenario has 50 percent probability currently. The other way for NEO/USD to break through the resistance area at $36.45 and move higher, targeting the next resistance at $40.30.
Take a look at IOTA (IOTA/USD) and QTUM (QTUM/USD) Price Analysis, July 12
For top 20 cryptocurrencies, the next step is around the corner
The crypto market “was sleeping” on Wednesday as nothing serious happened. Most of the major cryptocurrencies remained flat as buyers and sellers have found a balance. However, this situation is likely to change in the nearest future.
There are no events to affect coin prices currently, but we are going to mention a couple of interesting news here. The Korean Blockchain Association has tested local exchanges and stated that 12 major trading places have a high-security level. It is important to mention, that the majority of those exchanges were subject to hacker attacks in the past.
McAfee’s war against HitBTC still rages on. He has lost the first round as his verbal calls remained almost unnoticed by the crypto community. Famous coins and ICOs’ oracles decided to make another round of war, but this time, McAfee and collected all the information from the victims of this exchange in order to start a legal procedure.
Bitcoin Cash (BCH/USD)
Bitcoin Cash has broken its uptrend on Tuesday-Wednesday and declined. The currency pair added almost nothing in the past 24 hours as we have a very narrow flat situation on the chart. It is hard to say whether bulls or bears are going to take control over the market.
The currency pair has broken through the green ascending trend line and successfully tested the support area at $720.1. It stays below this level in the moment of writing. The currency pair is close to June’s lows but it is hard to say currently whether BCH/USD is going to reach them or reverse from the current position.
We give a chance for both scenarios on Thursday as there are no signals or even hints on future price fluctuations currently. We think that bears still have power and control over the market and are able to push Bitcoin Cash to June’s lows. Perhaps, this scenario is vital.
However, bulls prevent them from smashing the price currently. Buyers also have a chance to reverse the situation in their favor.
Litecoin (LTC/USD)
Litecoin fluctuated in a wider range on Wednesday. Litecoin added half a percent in the past 24 hours, but the situation remains neutral. Neither sellers nor buyers control the market currently.
Litecoin has successfully tested the ascending trend line on Tuesday and has broken through the support area at $78.62 later. The currency pair currently stays below this level. There is a kind of bearish flag pattern on the four hour chart.
If the flag works, we think that Litecoin will be able to test June’s lows in the nearest future. The target for the currency pair lies at the support area of $73.28. This is the first and nearest target for LTC/USD.
The alternative scenario for the currency pair is growth towards the resistance area at $84.44. However, we think that this one is less probable in the nearest future.
NEO (NEO/USD)
NEO stopped declining on Thursday. The currency pair is flat currently. NEO/USD has lost almost two percent in the past 24 hours. However, the situation remains neutral as bulls and bears have found balance.
NEO has broken through the ascending trend line and declined towards the support area at $32.31. The currency pair attempted several times to test this level, but bulls still hold their positions. There are no signals currently.
As for the scenarios, there are two of them. Bears are able to push NEO/USD lower targeting June lows at the support area at $27.78. This bearish scenario has 50 percent probability currently. The other way for NEO/USD to break through the resistance area at $36.45 and move higher, targeting the next resistance at $40.30.
Take a look at IOTA (IOTA/USD) and QTUM (QTUM/USD) Price Analysis, July 12
Actually as of now the market value bitcoin and altcoin in the market is quite recovering from the loss they incurred during the past two quartes of the year,
I hope they can exceed the price of dec. 2017.
I hope they can exceed the price of dec. 2017.
Hopefully bitcoin and altcoin prices will come back soon. Bitcoins are at $ 6,300 and other altcoins are falling. I hope to see a positive sign of the cryptocurrency market next week
Bitcoin, Ethereum, Ripple, EOS, NEM Drop As Facebook Euphoria Disappears: Price Analysis, July 11
Bears again gain control over the market
Bears ruin bullish hopes as the price declined on Tuesday and went downwards. It seems like all top 20 altcoins test their June lows. Facebook euphoria disappeared and sellers regain control over the market.
There is some interesting and important news that we would like to mention. The first one comes from Bancor exchange. Famous trading platform was hacked. Around $24 mln in crypto was stolen. This news may cause the wave of sales in the crypto market.
Another interesting thing to pay attention to is the report, issued by crypto experts. They note that Bitcoin and other cryptos may become the next step of money evolution. Experts underline also that cryptocurrencies may become new mainstream payment method within the next ten years.
Bitcoin (BTC/USD) price analysis, July 11
Bitcoin loses more than five percent in the past 24 hours. The currency pair has broken the uptrend and targets its month lows. Sellers are controlling the market currently and are able to push BTC/USD even lower as we can see some upcoming bearish signals on the chart.
As for the current situation, Bitcoin successfully tested the ascending trend line from the above and went downwards. BTC/USD passed the closest support area at $6,510 and went even lower. Bitcoin reached the next support area at $6,329 on Wednesday.
We think that BTC/USD is likely to develop its downtrend in the nearest future as bulls have lost their control over the market. The currency pair forms a bearish flag currently, which means that the next target may be set at $6,071.
However, is bulls make an attempt to counterattack, they will be able to change the situation in their favor and reach the resistance area at $6,510 at least.
Ethereum (ETH/USD) price analysis, July 11
Ethereum went downwards on Tuesday as the currency pair has lost nearly seven percent in the past 24 hours. This is a bad news for buyers as Ethereum targets June’s lows currently. The uptrend was broken and we can see that Ethereum still has some potential to develop its downtrend.
The currency pair has made a breakout of the green ascending trend line without any troubles showing that sellers control the market currently. ETH/USD has broken through a couple of supports at $473.39 and $453.24 and $431.42.
We think that Ethereum is able to develop its downtrend in the nearest future. The currency pair is likely to make a breakout of the closest support at $431.42 and move lower, targeting the next support at $417.28 at least. There is a bearish flag on the chart, which is a signal for bears to develop their progress.
Is Ethereum able to go upwards? In case of good news or bulls regaining control. However, this scenario is less probable.
Ripple (XRP/USD) price analysis, July 11
Ripple follow the other major cryptocurrencies on its way downwards. The currency pair has lost more than four percent in the past 24 hours but shows some signs of further downtrend to develop. XRP/USD targets June’s lows and is able to reach them in the nearest future.
Ripple went downwards on Tuesday and crossed a couple of support areas at $0.4744 and $0.4495. The currency pair fluctuates below $0.4495in the moment of writing and we think that XRP/USD is able to reach the next support in the nearest future.
We have a bearish flag on the chart, which confirms our bearish thoughts. The currency pair is able to test the closest support area at $0.4232 in the nearest future. If bears are successful, they will be able to push XRP/USD even lower.
AS for the alternative, the less probable scenario is growth towards the closest resistance area at $0.4744.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 11
Bears again gain control over the market
Bears ruin bullish hopes as the price declined on Tuesday and went downwards. It seems like all top 20 altcoins test their June lows. Facebook euphoria disappeared and sellers regain control over the market.
There is some interesting and important news that we would like to mention. The first one comes from Bancor exchange. Famous trading platform was hacked. Around $24 mln in crypto was stolen. This news may cause the wave of sales in the crypto market.
Another interesting thing to pay attention to is the report, issued by crypto experts. They note that Bitcoin and other cryptos may become the next step of money evolution. Experts underline also that cryptocurrencies may become new mainstream payment method within the next ten years.
Bitcoin (BTC/USD) price analysis, July 11
Bitcoin loses more than five percent in the past 24 hours. The currency pair has broken the uptrend and targets its month lows. Sellers are controlling the market currently and are able to push BTC/USD even lower as we can see some upcoming bearish signals on the chart.
As for the current situation, Bitcoin successfully tested the ascending trend line from the above and went downwards. BTC/USD passed the closest support area at $6,510 and went even lower. Bitcoin reached the next support area at $6,329 on Wednesday.
We think that BTC/USD is likely to develop its downtrend in the nearest future as bulls have lost their control over the market. The currency pair forms a bearish flag currently, which means that the next target may be set at $6,071.
However, is bulls make an attempt to counterattack, they will be able to change the situation in their favor and reach the resistance area at $6,510 at least.
Ethereum (ETH/USD) price analysis, July 11
Ethereum went downwards on Tuesday as the currency pair has lost nearly seven percent in the past 24 hours. This is a bad news for buyers as Ethereum targets June’s lows currently. The uptrend was broken and we can see that Ethereum still has some potential to develop its downtrend.
The currency pair has made a breakout of the green ascending trend line without any troubles showing that sellers control the market currently. ETH/USD has broken through a couple of supports at $473.39 and $453.24 and $431.42.
We think that Ethereum is able to develop its downtrend in the nearest future. The currency pair is likely to make a breakout of the closest support at $431.42 and move lower, targeting the next support at $417.28 at least. There is a bearish flag on the chart, which is a signal for bears to develop their progress.
Is Ethereum able to go upwards? In case of good news or bulls regaining control. However, this scenario is less probable.
Ripple (XRP/USD) price analysis, July 11
Ripple follow the other major cryptocurrencies on its way downwards. The currency pair has lost more than four percent in the past 24 hours but shows some signs of further downtrend to develop. XRP/USD targets June’s lows and is able to reach them in the nearest future.
Ripple went downwards on Tuesday and crossed a couple of support areas at $0.4744 and $0.4495. The currency pair fluctuates below $0.4495in the moment of writing and we think that XRP/USD is able to reach the next support in the nearest future.
We have a bearish flag on the chart, which confirms our bearish thoughts. The currency pair is able to test the closest support area at $0.4232 in the nearest future. If bears are successful, they will be able to push XRP/USD even lower.
AS for the alternative, the less probable scenario is growth towards the closest resistance area at $0.4744.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 11
NEO, Bitcoin Cash, Litecoin, IOTA, QTUM: Day’s Big Losers: Price Analysis, July 10
Bitcoin Cash and other cryptos look frustrating at the moment, but bullish moods still prevail
The crypto market seems to take a pause on Monday as the currencies from the top 20 suffered losses. However, we think that this is nothing more than a simple deeper correction. Cryptocurrencies still look bullish and may resume their uptrends in the nearest future.
As for the interesting news, there is almost nothing to pay attention to except the new attempts to regulate coins, coming from Kenya. The local parliament still examines the industry. Some experts think that they can either ban cryptos entirely or give them a green light as some other African countries have done already.
Bitcoin Cash (BCH/USD) price analysis, July 10
Bitcoin Cash develops its correction on Tuesday as the price loses more than two percent in the past 24 hours. Bulls seem to take a rest for a while but they are still holding their positions giving no room for bears to reverse the trend.
The currency pair reached the resistance area at $783.70 during the weekend but retreated from there. BCH/USD reached the ascending trend line later and even jumped over it, touching the support area at $720.1. However, it seems that this is the end of bearish activities as Bitcoin Cash meets huge support there.
As for the plans for the nearest future, the first target lies at the resistance area at $783.70. However, bulls need to return above the ascending trend line first. If they reach the resistance at $783.70 and test it successfully, buyers will be able to develop the growth towards the next resistance at $828.60.
Bearish targets lie lower. If sellers are able to successfully test the current support area at $720.10, they will develop their progress towards the next support at $665.80 to test June’s lows.
Litecoin (LTC/USD) price analysis, July 10
Litecoin stopped to develop its upside progress during the weekend and started a correction. The currency pair still has potential but bears hold their position preventing buyers from getting higher. However, we think that LTC/USD is able to resume its growth in the nearest future.
Litecoin reached the resistance at $84.44 during the weekend but failed to break it out. LTC price retreated from that level and went towards the ascending trend line. LTC/USD crossed the trend line on Tuesday and reached the support area at $78.62.
Targets for today are the following. We think that the most probable scenario for Litecoin is to resume the uptrend and to reach the resistance area at $84.44 in the nearest future. This is the closest target. If buyers are able to progress, they will likely to reach the next resistance at $88.45
The less probable scenario for Litecoin is downside tendency. The price may break out the support area at $78.62 targeting the next support at $73.28.
QTUM (QTUM/USD) price analysis, July 10
QTUM follows the other cryptos and feels bad on Tuesday, but we think that the currency pair still looks promising and is able to change the tendency in the nearest future. The currency pair has lost more than six percent in the past 24 hours.
QTUM tested the resistance area at $9.23 on weekend but bears were stronger than bulls and prevented them from progressing higher. However, QTUM price stopped at $8.26 currently. QTUM has reached the ascending trend line.
As for the possible ways, we think that QTUM is bullish and the currency pair is going to resume its uptrend line the nearest future. QTUM/USD is going to reach the closest resistance area at $9.23 at least. If bulls successfully test it, the currency pair will progress higher.
Bears seem to unable to push it lower, but if they have enough power, they will run the currency pair towards the next support area at $7.47.
Take a look at IOTA (IOTA/USD) and NEO (NEO/USD) Price Analysis, July 10
Bitcoin Cash and other cryptos look frustrating at the moment, but bullish moods still prevail
The crypto market seems to take a pause on Monday as the currencies from the top 20 suffered losses. However, we think that this is nothing more than a simple deeper correction. Cryptocurrencies still look bullish and may resume their uptrends in the nearest future.
As for the interesting news, there is almost nothing to pay attention to except the new attempts to regulate coins, coming from Kenya. The local parliament still examines the industry. Some experts think that they can either ban cryptos entirely or give them a green light as some other African countries have done already.
Bitcoin Cash (BCH/USD) price analysis, July 10
Bitcoin Cash develops its correction on Tuesday as the price loses more than two percent in the past 24 hours. Bulls seem to take a rest for a while but they are still holding their positions giving no room for bears to reverse the trend.
The currency pair reached the resistance area at $783.70 during the weekend but retreated from there. BCH/USD reached the ascending trend line later and even jumped over it, touching the support area at $720.1. However, it seems that this is the end of bearish activities as Bitcoin Cash meets huge support there.
As for the plans for the nearest future, the first target lies at the resistance area at $783.70. However, bulls need to return above the ascending trend line first. If they reach the resistance at $783.70 and test it successfully, buyers will be able to develop the growth towards the next resistance at $828.60.
Bearish targets lie lower. If sellers are able to successfully test the current support area at $720.10, they will develop their progress towards the next support at $665.80 to test June’s lows.
Litecoin (LTC/USD) price analysis, July 10
Litecoin stopped to develop its upside progress during the weekend and started a correction. The currency pair still has potential but bears hold their position preventing buyers from getting higher. However, we think that LTC/USD is able to resume its growth in the nearest future.
Litecoin reached the resistance at $84.44 during the weekend but failed to break it out. LTC price retreated from that level and went towards the ascending trend line. LTC/USD crossed the trend line on Tuesday and reached the support area at $78.62.
Targets for today are the following. We think that the most probable scenario for Litecoin is to resume the uptrend and to reach the resistance area at $84.44 in the nearest future. This is the closest target. If buyers are able to progress, they will likely to reach the next resistance at $88.45
The less probable scenario for Litecoin is downside tendency. The price may break out the support area at $78.62 targeting the next support at $73.28.
QTUM (QTUM/USD) price analysis, July 10
QTUM follows the other cryptos and feels bad on Tuesday, but we think that the currency pair still looks promising and is able to change the tendency in the nearest future. The currency pair has lost more than six percent in the past 24 hours.
QTUM tested the resistance area at $9.23 on weekend but bears were stronger than bulls and prevented them from progressing higher. However, QTUM price stopped at $8.26 currently. QTUM has reached the ascending trend line.
As for the possible ways, we think that QTUM is bullish and the currency pair is going to resume its uptrend line the nearest future. QTUM/USD is going to reach the closest resistance area at $9.23 at least. If bulls successfully test it, the currency pair will progress higher.
Bears seem to unable to push it lower, but if they have enough power, they will run the currency pair towards the next support area at $7.47.
Take a look at IOTA (IOTA/USD) and NEO (NEO/USD) Price Analysis, July 10
Bitcoin, Ethereum, Ripple, EOS, NEM Go for New Highs, Bulls Becoming Stronger: Price Analysis, July 9
Bitcoin and altcoins develop their bullish trends, major cryptocurrencies still look promising
Bitcoin and other major cryptos continue to rally as they have reached new highs on weekend. General market moods remain positive and cryptos from the top 20 seem to be ready to make new tops. Psychologically, bulls are winning currently as bears have no chances to reverse the situation.
As for the news, there are no drivers in the moment of writing, but we want our readers to pay attention to some interesting facts. European’s ETF giant launches ETN. This is an Exchange trading note, which is similar to Exchange trading fund, but have some specifics. Crypto community, by the way, expects Bitcoin ETF’s in the nearest future.
Another great news comes from Switzerland where local stock exchange owner SIX launches their own crypto exchange. This company promises to traders to give them a full set of opportunities in order to provide clients with high-quality service.
Bitcoin (BTC/USD) price analysis, July 9
BTC/USD had almost nor gains neither losses in the past 24 hours as the currency pair declined for less than one percent. However, in general, the situation is promising as the main cryptocurrency established new highs during the weekend.
Let’s get down to the four hours’ chart to see what’s going on with the cryptocurrency. Bitcoin has tested the supper area at $6,510 during the weekend but failed to develop its decline. We have updated the ascending trend line according to the recent price changes.
Bitcoin went upwards later and BTC price jumped over the resistance area at $6,701. BTC/USD stays above this level currently, but still unable to make any further upside steps. We think that the currency pair is going to grow today again as we have a clear bullish flag pattern on the chart.
The next target for Bitcoin growth lies at $6,943. BTC price is likely to reach this area within one-two days approximately. However, if bulls are more active, they will be able to develop their progress and to reach even higher tops.
As for the alternative scenario, if sellers gain temporary control over the market, they will be able to press the currency pair down towards the support area at $6,510.
Ethereum (ETH/USD) price analysis, July 9
Ethereum makes smooth losses in the past 24 hours, but the currency pair still looks very promising as it established new highs during the weekend. We have adjusted the ascending trend line in order to make it more appropriate to the current situation.
What can we see on the four-hour chart? The first thing that is clear is that ETH price goes along the green ascending trend line. This fact indicates the probability of further upside tendency. ETH price reached the trend line on the weekend but jumped over the resistance area at $473.39 and went higher later.
Currently, we have some kind of a flag pattern on the chart, but it is not a classic pattern analysis flag that we used to trade. However, psychologically, this one is a consolidation after a bullish momentum and may lead to another significant price burst in the nearest future.
As for targets for this growth, we think that Ethereum is likely to reach $540.69 in the nearest future. However, the closest target is the resistance area at $500.36.
Is there any alternative scenario? If bulls are unable to drive ETH/USD higher than bears will push it lower. We think that Ethereum will run lower in this case, targeting the support area at $543.29.
Ripple (XRP/USD) price analysis, July 9
Ripple looks less promising than other majors as the crypto failed to establish new highs during the weekend. The currency pair has lost more than two percent in the past 24 hours. The currency pair has broken through the ascending trend line and moved lower. It is hard to say currently whether Ripple is going to resume its uptrend in the nearest future.
The situation on the four-hour chart is neutral as there is no tendency currently. Ripple failed to jump over the resistance area at $0.5088 during the weekend. The currency pair tested the support area at $0.4744 instead.
We have set upper targets for Ripple at $0.5444, but currently, we cannot say that XRP/USD is able to reach them in the nearest future as the uptrend was broken. The lower targets are set at the support area at $0.4495, but Ripple will have to breakout the closest support area at $0.4744 in order to reach it.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 9
Bitcoin and altcoins develop their bullish trends, major cryptocurrencies still look promising
Bitcoin and other major cryptos continue to rally as they have reached new highs on weekend. General market moods remain positive and cryptos from the top 20 seem to be ready to make new tops. Psychologically, bulls are winning currently as bears have no chances to reverse the situation.
As for the news, there are no drivers in the moment of writing, but we want our readers to pay attention to some interesting facts. European’s ETF giant launches ETN. This is an Exchange trading note, which is similar to Exchange trading fund, but have some specifics. Crypto community, by the way, expects Bitcoin ETF’s in the nearest future.
Another great news comes from Switzerland where local stock exchange owner SIX launches their own crypto exchange. This company promises to traders to give them a full set of opportunities in order to provide clients with high-quality service.
Bitcoin (BTC/USD) price analysis, July 9
BTC/USD had almost nor gains neither losses in the past 24 hours as the currency pair declined for less than one percent. However, in general, the situation is promising as the main cryptocurrency established new highs during the weekend.
Let’s get down to the four hours’ chart to see what’s going on with the cryptocurrency. Bitcoin has tested the supper area at $6,510 during the weekend but failed to develop its decline. We have updated the ascending trend line according to the recent price changes.
Bitcoin went upwards later and BTC price jumped over the resistance area at $6,701. BTC/USD stays above this level currently, but still unable to make any further upside steps. We think that the currency pair is going to grow today again as we have a clear bullish flag pattern on the chart.
The next target for Bitcoin growth lies at $6,943. BTC price is likely to reach this area within one-two days approximately. However, if bulls are more active, they will be able to develop their progress and to reach even higher tops.
As for the alternative scenario, if sellers gain temporary control over the market, they will be able to press the currency pair down towards the support area at $6,510.
Ethereum (ETH/USD) price analysis, July 9
Ethereum makes smooth losses in the past 24 hours, but the currency pair still looks very promising as it established new highs during the weekend. We have adjusted the ascending trend line in order to make it more appropriate to the current situation.
What can we see on the four-hour chart? The first thing that is clear is that ETH price goes along the green ascending trend line. This fact indicates the probability of further upside tendency. ETH price reached the trend line on the weekend but jumped over the resistance area at $473.39 and went higher later.
Currently, we have some kind of a flag pattern on the chart, but it is not a classic pattern analysis flag that we used to trade. However, psychologically, this one is a consolidation after a bullish momentum and may lead to another significant price burst in the nearest future.
As for targets for this growth, we think that Ethereum is likely to reach $540.69 in the nearest future. However, the closest target is the resistance area at $500.36.
Is there any alternative scenario? If bulls are unable to drive ETH/USD higher than bears will push it lower. We think that Ethereum will run lower in this case, targeting the support area at $543.29.
Ripple (XRP/USD) price analysis, July 9
Ripple looks less promising than other majors as the crypto failed to establish new highs during the weekend. The currency pair has lost more than two percent in the past 24 hours. The currency pair has broken through the ascending trend line and moved lower. It is hard to say currently whether Ripple is going to resume its uptrend in the nearest future.
The situation on the four-hour chart is neutral as there is no tendency currently. Ripple failed to jump over the resistance area at $0.5088 during the weekend. The currency pair tested the support area at $0.4744 instead.
We have set upper targets for Ripple at $0.5444, but currently, we cannot say that XRP/USD is able to reach them in the nearest future as the uptrend was broken. The lower targets are set at the support area at $0.4495, but Ripple will have to breakout the closest support area at $0.4744 in order to reach it.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 9
Thanks for creating that topic. In those days, when market is so unpredictable we definitelly need something like that in order to gather some different opinions and help to make decisions.
Bitcoin, Ethereum, Ripple, EOS, NEM New Local Highs Reached: Price Analysis, July 5
Bitcoin and its rivals make new tops on Wednesday, market sentiment is still bullish
The crypto market continues its uptrend as all the majors from the top 20 has reached their new highs on Wednesday. Later, Bitcoin and its rivals declined within the correction. However, there is the midterm uptrend currently as sellers have no chances to reverse it and the price goes upwards establishing new tops.
There is interesting news on Wednesday-Thursday that we would like to share with our readers. However, first some experts’ opinions. A panel from 14 experts in cryptos has issued their report on several coins including Bitcoin.
They predict bullish market for the rest of 2018 and Bitcoin price will be at least above $15,000. Another interesting news comes from Binance. This famous crypto exchange halted its activities temporarily due to Syscoin issues. There are rumors that there one bln Syscoins mined in a single block.
Bitcoin (BTC/USD) price analysis, July 5
Bitcoin went upwards yesterday, but retreated later within a correction. The currency pair has added more than two percent in the past 24 hours. BTC price moves along the ascending trend line meaning BTC/USD still looks upwards and is promising.
Bitcoin has tested the resistance area at $6,718 on Wednesday as we had previously predicted, but BTC price declined towards the ascending trend line later. BTC/USD touched this trend line and seems to jump off it meaning bulls are ready to develop the uptrend in the nearest future.
We have two bullish signals in a row at the moment of writing. The first comes from the bullish engulfing candlestick pattern. The second formed when the ascending trend line rejected the price. As for targets, we think that BTC/USD is likely to retest the resistance area at $6,718 first and to move higher targeting the next resistance at $6,943. This target may be reached on Thursday-Friday.
As for the alternative scenario, the currency pair will break through the ascending trend line and move lower. The first bearish goal lies at the support area at $6,510 and the second is even lower at $6,329.
Ethereum (ETH/USD) price analysis, July 5
Ethereum went up three percent in the past 24 hours. The currency pair develops its uptrend as ETH price moves along the trend line. Our Wednesday targets were reached but ETH/USD failed to develop its progress and retreated towards the ascending trend line.
The currency pair touched the resistance area at $473.39 on Wednesday, but failed to jump over it and went downwards, targeting the ascending trend line. Ethereum is testing the resistance again in the moment of writing.
We have a clear bullish hammer pattern on the hourly chart, which is confirmed by the fact that the currency pair jumped off the ascending trend line. As for the targets for today, we think that Ethereum is able to resume the uptrend. The first goal for the currency pair is to break through the resistance area at $473.39.
The second (but the main) target lies higher at the next resistance at $500.36. As for bearish scenario it is less probable in this situation. Targets for sellers are the following: ETH price may reach the support area at $453.24 and if successful, it will go lower, targeting the next support at $431.42
Ripple (XRP/USD) price analysis, July 5
Ripple reached our targets on Wednesday but retreated later. The currency pair added more than three percent in the past 24 hours. XRP/USD moves along the ascending trend line meaning the uptrend is still in force and is able to develop.
The currency pair tested the resistance area at $0.5088 on Wednesday but failed to jump over it. XRP/USD declined towards the ascending trend line later. Sellers were unable to push Ripple lower.
We have a clear bullish hammer candlestick pattern on the hourly chart, which is confirmed by jump off the trend line. This means that Ripple is able to resume its uptrend in the nearest future. The closest target for this upside tendency will be at the closest resistance area at $0.5088.
We also think that XRP/USD will be able to move higher once the resistance is broken. The next target for Thursday-Friday is at $0.5444. As for the bearish scenario, it is less likely. However, the target for sellers lies at $0.4744.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 5
Bitcoin and its rivals make new tops on Wednesday, market sentiment is still bullish
The crypto market continues its uptrend as all the majors from the top 20 has reached their new highs on Wednesday. Later, Bitcoin and its rivals declined within the correction. However, there is the midterm uptrend currently as sellers have no chances to reverse it and the price goes upwards establishing new tops.
There is interesting news on Wednesday-Thursday that we would like to share with our readers. However, first some experts’ opinions. A panel from 14 experts in cryptos has issued their report on several coins including Bitcoin.
They predict bullish market for the rest of 2018 and Bitcoin price will be at least above $15,000. Another interesting news comes from Binance. This famous crypto exchange halted its activities temporarily due to Syscoin issues. There are rumors that there one bln Syscoins mined in a single block.
Bitcoin (BTC/USD) price analysis, July 5
Bitcoin went upwards yesterday, but retreated later within a correction. The currency pair has added more than two percent in the past 24 hours. BTC price moves along the ascending trend line meaning BTC/USD still looks upwards and is promising.
Bitcoin has tested the resistance area at $6,718 on Wednesday as we had previously predicted, but BTC price declined towards the ascending trend line later. BTC/USD touched this trend line and seems to jump off it meaning bulls are ready to develop the uptrend in the nearest future.
We have two bullish signals in a row at the moment of writing. The first comes from the bullish engulfing candlestick pattern. The second formed when the ascending trend line rejected the price. As for targets, we think that BTC/USD is likely to retest the resistance area at $6,718 first and to move higher targeting the next resistance at $6,943. This target may be reached on Thursday-Friday.
As for the alternative scenario, the currency pair will break through the ascending trend line and move lower. The first bearish goal lies at the support area at $6,510 and the second is even lower at $6,329.
Ethereum (ETH/USD) price analysis, July 5
Ethereum went up three percent in the past 24 hours. The currency pair develops its uptrend as ETH price moves along the trend line. Our Wednesday targets were reached but ETH/USD failed to develop its progress and retreated towards the ascending trend line.
The currency pair touched the resistance area at $473.39 on Wednesday, but failed to jump over it and went downwards, targeting the ascending trend line. Ethereum is testing the resistance again in the moment of writing.
We have a clear bullish hammer pattern on the hourly chart, which is confirmed by the fact that the currency pair jumped off the ascending trend line. As for the targets for today, we think that Ethereum is able to resume the uptrend. The first goal for the currency pair is to break through the resistance area at $473.39.
The second (but the main) target lies higher at the next resistance at $500.36. As for bearish scenario it is less probable in this situation. Targets for sellers are the following: ETH price may reach the support area at $453.24 and if successful, it will go lower, targeting the next support at $431.42
Ripple (XRP/USD) price analysis, July 5
Ripple reached our targets on Wednesday but retreated later. The currency pair added more than three percent in the past 24 hours. XRP/USD moves along the ascending trend line meaning the uptrend is still in force and is able to develop.
The currency pair tested the resistance area at $0.5088 on Wednesday but failed to jump over it. XRP/USD declined towards the ascending trend line later. Sellers were unable to push Ripple lower.
We have a clear bullish hammer candlestick pattern on the hourly chart, which is confirmed by jump off the trend line. This means that Ripple is able to resume its uptrend in the nearest future. The closest target for this upside tendency will be at the closest resistance area at $0.5088.
We also think that XRP/USD will be able to move higher once the resistance is broken. The next target for Thursday-Friday is at $0.5444. As for the bearish scenario, it is less likely. However, the target for sellers lies at $0.4744.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 5
Here will be the latest price analysis for BTC and altcoins.
We appreciate your opinion.
Daily reviews are also placed on https://cryptocomes.com/pricewise
This graphic is so funny, thanks for making me laughing. But anyway those predictions and analyses is just unavoidable if you want to have a successful trading plan. Good for you that you're making resources. We appreciate your opinion.
Daily reviews are also placed on https://cryptocomes.com/pricewise
Bitcoin, Ethereum, Ripple, EOS, NEM Stop Growing, But Bullish Look Remains: Price Analysis, July 4
Bitcoin and other cryptos started their downside correction, but still look bullish
After two days of growth, the crypto market has seen a downside correction as Bitcoin and other cryptocurrencies suffered insignificant losses on Tuesday-Wednesday. However, the general situation still looks bullish and this correction is unlikely to last for long or be the game changer.
The main driver for the uptrend is news from Facebook relating their U-turn towards cryptocurrency markets and ICOs. Another driver also comes from Facebook as there are rumors that the famous social media is going to launch its own coin.
There is some less important but worth mentioning news. Ripple plans to launch a “drop.” However, this word was used to attract attention as there will be no traditional cryptocurrency drop. This time it means a new Ripple vlog narrating about the technologies crypto markets etc.
Other interesting news worth mentioning is the war of McAfee against HitBTC. The famous coin expert had some provocative comments in his Twitter accusing famous exchange in death of people and urging user to boycott this trading place.
Bitcoin (BTC/USD) price analysis, July 4
Bitcoin started a downside correction as the currency pair loses around two percent in the past 24 hours. However, we think that this correction is nothing more than just a pause of the uptrend as crypto market is still bullish. Investors fixed their positions but they are likely to resume buying in the nearest future.
BTC/USD had a bullish flag pattern on Tuesday but failed to develop its upside progress as the price reached the support area at $6,510 and tested it. Bitcoin jumped over this level, but still has opportunities to return above the resistance (which was the support previously). We can see a clear Hammer candlestick pattern on the hourly chart meaning the currency pair is ready to grow in the nearest future.
The closest targets for Bitcoin growth lie at the resistance area at $6,718. BTC/USD is likely to start growing towards this level on Wednesday. This is the main scenario for the next 24 hours. However, if bulls fail to drive the currency pair higher, we will become witnesses of a deeper downside correction aiming at the next support area at $6,329.
Ethereum (ETH/USD) price analysis, July 4
Ethereum stopped its uptrend on Tuesday as ETH price failed to work another bullish Flag. ETH/USD loses more than four percent in the past 24 hours but still looks bullish as we think this decline is nothing more than a simple downside correction to the previous uptrend.
Ethereum declined on Tuesday-Wednesday and reached the support area at $453.29. The currency pair formed a bullish Hammer candlestick pattern right on its support line with a fake breakout, meaning Ethereum is ready to burst upwards again.
If this works and buyers are successful, Ethereum will be able to reach at least $473.39 resistance area. We think that this target is enough for Wednesday. However, if buyers gain momentum, they will be able to drive the currency pair even higher.
This is the main scenario for today, but we should not forget about the bears. They are also able to develop this downside correction even deeper. ETH price is likely to reach the next support area at $431.42 in this case.
Ripple (XRP/USD) price analysis, July 4
Ripple follows its rivals and develops a downside correction as the price loses almost four percent in the past 24 hours. However, XRP/USD still looks bullish and able to resume its uptrend in the nearest future.
XRP/USD worked its bullish flag on Tuesday, unlike other cryptos. However, after reaching the resistance area at $0.5088, Ripple failed to jump over it and retreated from this area. XRP/USD declined towards the support area at $0.4744 and reached it later. We have a Doji candlestick, which means that Ripple is able to resume growth in the nearest future.
What are the targets for today? If bulls are successful close to this support area at $0.4744, they will be able to drive XRP/USD higher targeting the next resistance at $0.5088. Is this the final point for growth for the next 24 hours? We think that no, it is not and buyers will be able to drive XRP/USD even higher.
This is the main scenario for Ripple. However, if sellers gain momentum, they will be able to develop this downside correction towards the next support at $0.4495.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 4
Bitcoin and other cryptos started their downside correction, but still look bullish
After two days of growth, the crypto market has seen a downside correction as Bitcoin and other cryptocurrencies suffered insignificant losses on Tuesday-Wednesday. However, the general situation still looks bullish and this correction is unlikely to last for long or be the game changer.
The main driver for the uptrend is news from Facebook relating their U-turn towards cryptocurrency markets and ICOs. Another driver also comes from Facebook as there are rumors that the famous social media is going to launch its own coin.
There is some less important but worth mentioning news. Ripple plans to launch a “drop.” However, this word was used to attract attention as there will be no traditional cryptocurrency drop. This time it means a new Ripple vlog narrating about the technologies crypto markets etc.
Other interesting news worth mentioning is the war of McAfee against HitBTC. The famous coin expert had some provocative comments in his Twitter accusing famous exchange in death of people and urging user to boycott this trading place.
Bitcoin (BTC/USD) price analysis, July 4
Bitcoin started a downside correction as the currency pair loses around two percent in the past 24 hours. However, we think that this correction is nothing more than just a pause of the uptrend as crypto market is still bullish. Investors fixed their positions but they are likely to resume buying in the nearest future.
BTC/USD had a bullish flag pattern on Tuesday but failed to develop its upside progress as the price reached the support area at $6,510 and tested it. Bitcoin jumped over this level, but still has opportunities to return above the resistance (which was the support previously). We can see a clear Hammer candlestick pattern on the hourly chart meaning the currency pair is ready to grow in the nearest future.
The closest targets for Bitcoin growth lie at the resistance area at $6,718. BTC/USD is likely to start growing towards this level on Wednesday. This is the main scenario for the next 24 hours. However, if bulls fail to drive the currency pair higher, we will become witnesses of a deeper downside correction aiming at the next support area at $6,329.
Ethereum (ETH/USD) price analysis, July 4
Ethereum stopped its uptrend on Tuesday as ETH price failed to work another bullish Flag. ETH/USD loses more than four percent in the past 24 hours but still looks bullish as we think this decline is nothing more than a simple downside correction to the previous uptrend.
Ethereum declined on Tuesday-Wednesday and reached the support area at $453.29. The currency pair formed a bullish Hammer candlestick pattern right on its support line with a fake breakout, meaning Ethereum is ready to burst upwards again.
If this works and buyers are successful, Ethereum will be able to reach at least $473.39 resistance area. We think that this target is enough for Wednesday. However, if buyers gain momentum, they will be able to drive the currency pair even higher.
This is the main scenario for today, but we should not forget about the bears. They are also able to develop this downside correction even deeper. ETH price is likely to reach the next support area at $431.42 in this case.
Ripple (XRP/USD) price analysis, July 4
Ripple follows its rivals and develops a downside correction as the price loses almost four percent in the past 24 hours. However, XRP/USD still looks bullish and able to resume its uptrend in the nearest future.
XRP/USD worked its bullish flag on Tuesday, unlike other cryptos. However, after reaching the resistance area at $0.5088, Ripple failed to jump over it and retreated from this area. XRP/USD declined towards the support area at $0.4744 and reached it later. We have a Doji candlestick, which means that Ripple is able to resume growth in the nearest future.
What are the targets for today? If bulls are successful close to this support area at $0.4744, they will be able to drive XRP/USD higher targeting the next resistance at $0.5088. Is this the final point for growth for the next 24 hours? We think that no, it is not and buyers will be able to drive XRP/USD even higher.
This is the main scenario for Ripple. However, if sellers gain momentum, they will be able to develop this downside correction towards the next support at $0.4495.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 4
Here will be the latest price analysis for BTC and altcoins.
We appreciate your opinion.
Daily reviews are also placed on https://cryptocomes.com/pricewise
You can see that the current price of bitcoin and altcoin are showing signs of slowing down after rising continuously over the past few days, I think that at this point you should start selling bitcoin and altcoin in USD to have It is possible to preserve profits by minimizing the risk of bitocaine prices. At present, bitcoin prices are showing slight decreases and are at the $ 6500 level. We appreciate your opinion.
Daily reviews are also placed on https://cryptocomes.com/pricewise
Here will be the latest price analysis for BTC and altcoins.
We appreciate your opinion.
Daily reviews are also placed on https://cryptocomes.com/pricewise
You can see that the price of bitcoin and altcoin today has a huge adjustment, when the price of bitocin reduced to 6400 $ then the girl altcoin also fell sharply and now the price of bitcoin is recovering to 6800 $ And altcoin is showing signs of recovery but very slowly. I believe that at this time you can buy altcoin and trade in the short term. The market is in the downtrend stage so bitcoin prices will probably continue to fall sharply at any time.We appreciate your opinion.
Daily reviews are also placed on https://cryptocomes.com/pricewise
Thanks for sharing such analysis. And this new graph is quite hilarious
but sadly true. BTC at the moment is buffering around ~ $ 6,600 which I think will act as a cap for a period before a new moon. 
Very helpful analysis thanks a lot
Facebook is going to acquire Coinbase and issue its own cryptocurrency.I ve been reading that FB is thinking about his own crypto but acquire Coinbase first to hear.Do big boys in USA want to own crypto space
There was article on Coindesk that Russian payments system will develop his own investment cryptobank .It will be possible for Russian citizens to invest in ico legally
And Russian are positive for regulations in his country
Facebook is going to acquire Coinbase and issue its own cryptocurrency.I ve been reading that FB is thinking about his own crypto but acquire Coinbase first to hear.Do big boys in USA want to own crypto space
There was article on Coindesk that Russian payments system will develop his own investment cryptobank .It will be possible for Russian citizens to invest in ico legally
And Russian are positive for regulations in his country
Crypto Trading Legend MasterLuc: “You Can Visit Cemetery of Dead Alts, Won’t Find Bitcoin There”
The legendary trader MasterLuc is known in crypto community for his precise predictions. Here’s his exclusive interview
Bitcoin is experiencing tough times as it has suffered a severe correction of over 70 percent from the point of its peak value. Now is the time to worry about its future, so we decided it’s about time to turn to the anonymous trader MasterLuc, whose fantastic prediction skills made him a legend on Bitcointalk.
What made MasterLuc famous was his 2016 prediction of Bitcoin price all-time high at 20k, which was done at a time when no one could even imagine such figures.
MasterLuc shared with us his vision of the future of the crypto market, he explains why Bitcoin is strongly undervalued, and why most altcoins are going to die.
CryptoComes: Right now, we see a profound correction of the Bitcoin price. Are you going to give up on your famous prediction of Bitcoin continuing its significant rise in price?
ML: Are you interested in the technical answer to your question, or the emotional answer? From a technical point, everything is alright up until the 2,990 mark, any lower than that and you can start feeling strained. From an emotional side, the answer is no; bubbles don’t burst like that.
When the vast majority of bulls stop straining over a dump of Bitcoins, then you can expect trouble. However, at the time being people continue to be tense. This is merely a correction.
On the other hand, I expect a new strong bullish trend in Bitcoin not earlier than 2019.
CC: How do you comment on the skeptics who are predicting the next death of Bitcoin… will it really survive under the pressure of these newer alts that are equipped with the latest modern technology “on steroids”?
ML: You can visit the cemetery of dead alts here.
But you won’t find Bitcoin there. Instead, there are hundreds of alts, and they will all eventually get there. Partly because no one yet has brought a revolutionary technology that resembles the scale of Bitcoin to the table. If we were to compare Bitcoin to the invention of the internal combustion engine (ICE) and cars, then yes, you could say that alts are attempting to improve something.
Like the car industry, they’re repainting the red to green, removing a piece from the edge, building up the wing of this new car, adding a liter to the tank, cramming in extra bells and whistles. But the ICE remains the only revolutionary invention that gave civilization a breakthrough.
Alright, we’re pretty clear about altcoins, let’s say that they are an unnecessary part of the evolution of Bitcoin…
ML: … Hold on, I’m not saying that altcoins are unnecessary. It’s just that most alts are created and used for one goal—to get more Bitcoins.
There is also a quite functional form of alts, for example, Litecoin. It appeared at a time when people were tweaking some constant in Bitcoin’s source code to quickly release a new alt. Litecoin did precisely that, but it also changed the basic hashing algorithm from SHA2 to the experimental algorithm Scrypt.
In theory, Litecoin would have died just as the others had. But what makes it special? People are actively testing new features on it and then merging them into Bitcoin. The most significant achievement for Litecoin was its implementation of SegWit. Yes, this was a huge benefit, but again for Bitcoin.
Let’s face the truth, Litecoin is experimental, it’s like someone who voluntarily takes powerful medication for research purposes. After the testing and debugging are conducted on the experimental subject, it is added to Bitcoin. We are indeed in need of those types of altcoins.
Alright, we’re going down the list– why do you have such revulsion toward Ether?
ML: The founder of Ether did something unacceptable—he has censored the network. He also does not hide his central role in the project, calling himself the “kind dictator.”
Understand that the revolution of Bitcoin consists of Blockchain technology, which helped eliminate the need for an intermediary institution, such as a bank, between Alice and Bob during exchanges of money. Blockchain is needed to exclude a central “dictator” who maintains the exclusive right to inspect coins, and who merely is granted this right because he is in the middle of every exchange.
The founder of Ether became that central entity. Ethereum is centralized, and it has one point of failure—the founder, who forks its chain left and right. Why? He just does what he wants, let’s not even discuss the motives of this nonsense. I don’t know why he uses Blockchain technology in this case since the technology was created to counter entities like himself.
Ether is centralized just like EOS. Both compete against other digital currencies like PayPal. However, the latter does not hide behind the mask of Blockchain. All of them love to block other accounts (even with the price of a hardfork), but this isn’t about Blockchain at all.
Again, the idea of Blockchain is simple: Blockchain is essential in places where no center or regulation is needed. If there is a center of any kind- like some office, leader, or something else that you can just close or fire- then there is no need for Blockchain. Ether and EOS (and some others) have a center, Blockchain, and even a project CEO. All of this put together is a project of insanity.
You also don’t take ICO seriously, could you explain why?
ML: Oh, this is just a dot-com. This is how Wall Street entertained themselves in 1999. They would create imitations of online stores, issue shares of stock, sell out for millions, then repeat the cycle. Only a few companies survived during the dot-com hysteria, and they have since become the current giants such as Google, eBay, Amazon, etc. The remaining 95 percent of projects were washed away by the wave following the collapse of this pyramid. History is repeating itself with ICO.
Alright, let’s return to Bitcoin proper. Many believe that it is an outdated technology, at least regarding its ability to scale.
ML: Those people are merely undervaluing what will someday become of Bitcoin. They don’t understand its essence. Concerning its ability to scale, there is a short answer—Lightning Network. Just find out how much this solution outweighs all of those pathetic attempts to only-increase-the-block.
Let’s take a closer look at the problem of scaling and the importance of Lightning since it is the real future of Bitcoin.
ML: There are two different points of view on the solution of the potential problem of scaling the network.
1. Quantitative. You need to slowly increase the maximum size of the block, or make it adaptively float. But for this, you need a hardfork—a strict division of the network.
2. Qualitative. You can go to a new level of developing the network where there will be no room for this problem. Similarly, there will be no place for several other issues.
The second option is Lightning Network. This is the next level of development akin to the OSI model. Here’s an analogy that is understandable to sysadmins: Bitcoin is the first physical layer (a cable), and Lightning is the data link layer (ethernet protocol). There are higher levels—network, transport, and application. They have not yet been developed, but that is the logic of the development.
Just so you know, in that same Ethernet, there are outrageous limitations on the size of the datagram– 1,500 bytes (with much difficulty, you can achieve 9,000).
In other words, within all our networks today, on any path from any website to you– there is a 1,500-byte limitation on the size of the transmission through the data link layer of OSI. Don’t believe it? Google the size of MTU. It’s true. How is it then possible that you can watch multi-megabyte videos on servers like YouTube?
It’s very simple. The limitation exists on the second layer of OSI, but when you like a video, that exists on the seventh layer. On the third layer, the limitation has already been handled quite elegantly. On the fourth layer, nobody even knows that it is there anymore.
On to the point of this… those who offer to change the size of the block are offering a quantitative solution, which could potentially lead to another similar obstruction in the future, and then someone will want another block that is even bigger in size. In option one we are merely pushing the problem into the future, not fundamentally solving it in any way. For example, this is the approach of BCash. They offer growth in one dimension, but they reject a complex multidimensional development of the network, as seen in the OSI model.
Therefore, while lamenting about “problems of scaling Bitcoin”, think about the MTU data link layer of 1,500 bytes. It exists in any network. It is terribly little for our times. This limitation was put in place 40 years ago, and to this day nobody wants to hardfork the Internet to change the limit. Everything works excellent because a complex adaptive network model was created. Lightning Network is exactly the next big step in the right direction.
Finally, I would like to discuss your critique of PoS, the consensus algorithm that many believe is the future of crypt, outweighing PoW. What’s wrong with PoS?
ML: First, let’s answer the initial question of why PoW was invented (HashCash originally). And why has Satoshi implemented this into Bitcoin?
HashCash was invented for the fight against spam. When sending a message, the sender would have to include his hash in the header. In no way did this complicate the lives of regular users because they needed to calculate only one hash. It did, however, seriously complicate the lives of spammers, who needed a new unique hash for each message, and they sent millions of those messages.
In other words, this technology, which opposes the centralization and virtualization of resources, opposes one person doing the work that should be performed by many people under normal circumstances. For example, sending messages, or verifying transactions and so on. This technology, unfortunately, does not entirely prevent the adverse effects, but it does impede the occurrence of these problems rather well.
Now about PoS. Even a cursory glance at this technology reveals its significant drawbacks in the fight against centralization. The higher your initial balance, the higher your chances are at sealing a block and getting more money in return.
To understand the absurdity of this idea, imagine an analogous situation where a PoW-miner has extra video cards and ASICs materialize on their own out of thin air while working on a network. They configure themselves on the fly, connect to the server, and begin working. That is precisely what happens to those with quite a wealthy wallet under the PoS framework.
Besides that, I believe PoS is wild centralization and deflation in one bottle. If the concentration of a fixed amount of money generates new money on its own, then PoS-systems, if they ever become popular, will spawn an especially exaggerated breed of hodlers. PoS will maintain a strong deflationary motive by just sitting on bags of money. But how will a real economy work in such a system? After all, it is paralyzed by the lack of moving money. PoS is a system that generates a passive revenue from fixed money, in other words, money that is taken out of circulation.
Finally, separate from the centralization and virtualization of resources is PoW.
On the other hand, with PoS you can unleash an entire zoo of different PoS-systems, making a profit from all of them immediately and simultaneously. Drawing a parallel, you can participate in 10 or 100 networks at the same time. Now return to the initial example about spam and the story of why PoW came to be for Bitcoin to understand why the situation of PoS is absurd.
The link: https://cryptocomes.com/crypto-trading-legend-masterluc-you-can-visit-cemetery-of-dead-alts-wont-find-bitcoin-there
The legendary trader MasterLuc is known in crypto community for his precise predictions. Here’s his exclusive interview
Bitcoin is experiencing tough times as it has suffered a severe correction of over 70 percent from the point of its peak value. Now is the time to worry about its future, so we decided it’s about time to turn to the anonymous trader MasterLuc, whose fantastic prediction skills made him a legend on Bitcointalk.
What made MasterLuc famous was his 2016 prediction of Bitcoin price all-time high at 20k, which was done at a time when no one could even imagine such figures.
MasterLuc shared with us his vision of the future of the crypto market, he explains why Bitcoin is strongly undervalued, and why most altcoins are going to die.
CryptoComes: Right now, we see a profound correction of the Bitcoin price. Are you going to give up on your famous prediction of Bitcoin continuing its significant rise in price?
ML: Are you interested in the technical answer to your question, or the emotional answer? From a technical point, everything is alright up until the 2,990 mark, any lower than that and you can start feeling strained. From an emotional side, the answer is no; bubbles don’t burst like that.
Quote
Enough of those bear traps need to pass so that the bulls сan principally lose their fear of a bitcoin dump.
When the vast majority of bulls stop straining over a dump of Bitcoins, then you can expect trouble. However, at the time being people continue to be tense. This is merely a correction.
On the other hand, I expect a new strong bullish trend in Bitcoin not earlier than 2019.
CC: How do you comment on the skeptics who are predicting the next death of Bitcoin… will it really survive under the pressure of these newer alts that are equipped with the latest modern technology “on steroids”?
ML: You can visit the cemetery of dead alts here.
But you won’t find Bitcoin there. Instead, there are hundreds of alts, and they will all eventually get there. Partly because no one yet has brought a revolutionary technology that resembles the scale of Bitcoin to the table. If we were to compare Bitcoin to the invention of the internal combustion engine (ICE) and cars, then yes, you could say that alts are attempting to improve something.
Like the car industry, they’re repainting the red to green, removing a piece from the edge, building up the wing of this new car, adding a liter to the tank, cramming in extra bells and whistles. But the ICE remains the only revolutionary invention that gave civilization a breakthrough.
Quote
And still, with so many alts, the next revolutionary step is for Bitcoin. I’m talking about Lightning Network. So why do we need these alts? I have many friends in the CryptoParty, and no matter whom I ask “why are you mining alts?”, the answer is always: “To sell them for Bitcoins.
Alright, we’re pretty clear about altcoins, let’s say that they are an unnecessary part of the evolution of Bitcoin…
ML: … Hold on, I’m not saying that altcoins are unnecessary. It’s just that most alts are created and used for one goal—to get more Bitcoins.
There is also a quite functional form of alts, for example, Litecoin. It appeared at a time when people were tweaking some constant in Bitcoin’s source code to quickly release a new alt. Litecoin did precisely that, but it also changed the basic hashing algorithm from SHA2 to the experimental algorithm Scrypt.
In theory, Litecoin would have died just as the others had. But what makes it special? People are actively testing new features on it and then merging them into Bitcoin. The most significant achievement for Litecoin was its implementation of SegWit. Yes, this was a huge benefit, but again for Bitcoin.
Let’s face the truth, Litecoin is experimental, it’s like someone who voluntarily takes powerful medication for research purposes. After the testing and debugging are conducted on the experimental subject, it is added to Bitcoin. We are indeed in need of those types of altcoins.
Alright, we’re going down the list– why do you have such revulsion toward Ether?
ML: The founder of Ether did something unacceptable—he has censored the network. He also does not hide his central role in the project, calling himself the “kind dictator.”
Understand that the revolution of Bitcoin consists of Blockchain technology, which helped eliminate the need for an intermediary institution, such as a bank, between Alice and Bob during exchanges of money. Blockchain is needed to exclude a central “dictator” who maintains the exclusive right to inspect coins, and who merely is granted this right because he is in the middle of every exchange.
The founder of Ether became that central entity. Ethereum is centralized, and it has one point of failure—the founder, who forks its chain left and right. Why? He just does what he wants, let’s not even discuss the motives of this nonsense. I don’t know why he uses Blockchain technology in this case since the technology was created to counter entities like himself.
Ether is centralized just like EOS. Both compete against other digital currencies like PayPal. However, the latter does not hide behind the mask of Blockchain. All of them love to block other accounts (even with the price of a hardfork), but this isn’t about Blockchain at all.
Again, the idea of Blockchain is simple: Blockchain is essential in places where no center or regulation is needed. If there is a center of any kind- like some office, leader, or something else that you can just close or fire- then there is no need for Blockchain. Ether and EOS (and some others) have a center, Blockchain, and even a project CEO. All of this put together is a project of insanity.
You also don’t take ICO seriously, could you explain why?
ML: Oh, this is just a dot-com. This is how Wall Street entertained themselves in 1999. They would create imitations of online stores, issue shares of stock, sell out for millions, then repeat the cycle. Only a few companies survived during the dot-com hysteria, and they have since become the current giants such as Google, eBay, Amazon, etc. The remaining 95 percent of projects were washed away by the wave following the collapse of this pyramid. History is repeating itself with ICO.
Alright, let’s return to Bitcoin proper. Many believe that it is an outdated technology, at least regarding its ability to scale.
ML: Those people are merely undervaluing what will someday become of Bitcoin. They don’t understand its essence. Concerning its ability to scale, there is a short answer—Lightning Network. Just find out how much this solution outweighs all of those pathetic attempts to only-increase-the-block.
Let’s take a closer look at the problem of scaling and the importance of Lightning since it is the real future of Bitcoin.
ML: There are two different points of view on the solution of the potential problem of scaling the network.
1. Quantitative. You need to slowly increase the maximum size of the block, or make it adaptively float. But for this, you need a hardfork—a strict division of the network.
2. Qualitative. You can go to a new level of developing the network where there will be no room for this problem. Similarly, there will be no place for several other issues.
The second option is Lightning Network. This is the next level of development akin to the OSI model. Here’s an analogy that is understandable to sysadmins: Bitcoin is the first physical layer (a cable), and Lightning is the data link layer (ethernet protocol). There are higher levels—network, transport, and application. They have not yet been developed, but that is the logic of the development.
Just so you know, in that same Ethernet, there are outrageous limitations on the size of the datagram– 1,500 bytes (with much difficulty, you can achieve 9,000).
In other words, within all our networks today, on any path from any website to you– there is a 1,500-byte limitation on the size of the transmission through the data link layer of OSI. Don’t believe it? Google the size of MTU. It’s true. How is it then possible that you can watch multi-megabyte videos on servers like YouTube?
It’s very simple. The limitation exists on the second layer of OSI, but when you like a video, that exists on the seventh layer. On the third layer, the limitation has already been handled quite elegantly. On the fourth layer, nobody even knows that it is there anymore.
On to the point of this… those who offer to change the size of the block are offering a quantitative solution, which could potentially lead to another similar obstruction in the future, and then someone will want another block that is even bigger in size. In option one we are merely pushing the problem into the future, not fundamentally solving it in any way. For example, this is the approach of BCash. They offer growth in one dimension, but they reject a complex multidimensional development of the network, as seen in the OSI model.
Therefore, while lamenting about “problems of scaling Bitcoin”, think about the MTU data link layer of 1,500 bytes. It exists in any network. It is terribly little for our times. This limitation was put in place 40 years ago, and to this day nobody wants to hardfork the Internet to change the limit. Everything works excellent because a complex adaptive network model was created. Lightning Network is exactly the next big step in the right direction.
Finally, I would like to discuss your critique of PoS, the consensus algorithm that many believe is the future of crypt, outweighing PoW. What’s wrong with PoS?
ML: First, let’s answer the initial question of why PoW was invented (HashCash originally). And why has Satoshi implemented this into Bitcoin?
HashCash was invented for the fight against spam. When sending a message, the sender would have to include his hash in the header. In no way did this complicate the lives of regular users because they needed to calculate only one hash. It did, however, seriously complicate the lives of spammers, who needed a new unique hash for each message, and they sent millions of those messages.
In other words, this technology, which opposes the centralization and virtualization of resources, opposes one person doing the work that should be performed by many people under normal circumstances. For example, sending messages, or verifying transactions and so on. This technology, unfortunately, does not entirely prevent the adverse effects, but it does impede the occurrence of these problems rather well.
Now about PoS. Even a cursory glance at this technology reveals its significant drawbacks in the fight against centralization. The higher your initial balance, the higher your chances are at sealing a block and getting more money in return.
To understand the absurdity of this idea, imagine an analogous situation where a PoW-miner has extra video cards and ASICs materialize on their own out of thin air while working on a network. They configure themselves on the fly, connect to the server, and begin working. That is precisely what happens to those with quite a wealthy wallet under the PoS framework.
Besides that, I believe PoS is wild centralization and deflation in one bottle. If the concentration of a fixed amount of money generates new money on its own, then PoS-systems, if they ever become popular, will spawn an especially exaggerated breed of hodlers. PoS will maintain a strong deflationary motive by just sitting on bags of money. But how will a real economy work in such a system? After all, it is paralyzed by the lack of moving money. PoS is a system that generates a passive revenue from fixed money, in other words, money that is taken out of circulation.
Finally, separate from the centralization and virtualization of resources is PoW.
Quote
It is real work that creates a decent load on the system. You will not be able to properly mine Bitcoin and Litecoin from one computer, this idea is initially meaningless (it is intended to be that way).
On the other hand, with PoS you can unleash an entire zoo of different PoS-systems, making a profit from all of them immediately and simultaneously. Drawing a parallel, you can participate in 10 or 100 networks at the same time. Now return to the initial example about spam and the story of why PoW came to be for Bitcoin to understand why the situation of PoS is absurd.
The link: https://cryptocomes.com/crypto-trading-legend-masterluc-you-can-visit-cemetery-of-dead-alts-wont-find-bitcoin-there
Here will be the latest price analysis for BTC and altcoins.
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You can see that bitcoin prices are recovering and showing signs of a slight increase in recent days, the market is showing signs of recovery and bitcoin prices as well as altcoin are constantly increasing. I believe that at this point if you are profitable you should get USD in order to preserve the profit and reduce the risk of bitcoin price may decrease. We appreciate your opinion.
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Bitcoin, Ethereum, Ripple, EOS, NEM Rally, Crypto Market Looks Promising: Price Analysis, July 3
Bitcoin and other cryptos still grow, strong rally on the crypto market
The crypto market continues to surprise as the price still goes upwards. All the majors from the top 20 have grown in the past 24 hours as we have expected. Investors seem to have completely changed their minds and coins are bullish at the moment.
What is the main reason for this? We think that news from Facebook are the biggest driver of it all. The most popular social media has not only U-turned towards cryptocurrency industry but is going to create its own crypto according to the latest rumors.
In other news, cryptos continue to expand as Middle East company is ready to sell real estate for coins. The owner of the company has a strong belief in cryptocurrencies and thinks they have changed the whole situation with transactions making them more transparent and safe as there is an opportunity to use smart contracts nowadays. The company is going to offer both cryptos and fiat money payment methods.
Bitcoin (BTC/USD) price analysis, July 3
Bitcoin continues to surprise investors as it added more than three percent in the past 24 hours. The flag pattern was true and those who bought from it had chances to grow their profits. However, we think that this uptrend is still on the way as new patterns appear on the hourly chart.
Let’s get down to the current situation. The currency pair has reached $6,510 target level on Monday-Tuesday and went even higher. However, we have some kind of a consolidation currently. BTC price resides between the resistance area at $6,718 and the support at $6,510. We have drawn another flag pattern, which is likely to be true again.
As for the perspectives for today, we think that investors still have fuel to drive BTC/USD higher. The flag pattern confirms it. However, there are two ways for Bitcoin to develop its growth. The first scenario– BTC/USD will start from the flag pattern and break through the resistance at $6,718 targeting the next resistance at $6,943.
There is also alternative growth scenario. Bitcoin will correct from its current position towards the closest support at $6,510 and start off from there. However, in this case, we expect the currency pair to reach the resistance at $6,718 at least.
Ethereum (ETH/USD) price analysis, July 3
Ethereum follows its allies as the currency pair shows more than four percent growth in the past 24 hours. ETH/USD reached its targets on yesterday and tested the resistance area at $473.39. Ethereum stops there for a while but we think it has still some fuel to develop its growth on Tuesday.
The currency pair has left the flag pattern on Monday-Tuesday and went upwards according to our expectations. Ethereum managed to jump off the support area at $453.24 and reached the resistance area at $473.39. It seems like ETH/USD has already jumped over $473.39. We have drawn another flag pattern.
The main scenario for the nearest future is bullish. We think that Ethereum will start to grow from the flag again and reach the next resistance area at $500.36. However, the currency pair may also retest the current support area at $473.39 before further growth.
Ripple (XRP/USD) price analysis, July 3
Ripple develops its upside progress on Tuesday as the currency pair reaches new highs. XRP/USD added more than five percent in the past 24 hours. The flag pattern was true and we have drawn another one which is also viable. Ripple looks very promising currently and seems to have enough power to develop its growth.
XRP/USD has jumped over the resistance area at $0.4744 on Monday-Tuesday and reached our targets. Bulls managed to drive it even higher. The currency pair works next flag pattern currently and seems to jump over the next resistance at $0.5088.
The main way for Ripple is to develop its growth in the nearest future. We have set a new target at the resistance area at $0.5444. XRP/USD is able to reach it even on Tuesday. However, we also think that it may test the support area at $0.5088 before taking off.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 3
Bitcoin and other cryptos still grow, strong rally on the crypto market
The crypto market continues to surprise as the price still goes upwards. All the majors from the top 20 have grown in the past 24 hours as we have expected. Investors seem to have completely changed their minds and coins are bullish at the moment.
What is the main reason for this? We think that news from Facebook are the biggest driver of it all. The most popular social media has not only U-turned towards cryptocurrency industry but is going to create its own crypto according to the latest rumors.
In other news, cryptos continue to expand as Middle East company is ready to sell real estate for coins. The owner of the company has a strong belief in cryptocurrencies and thinks they have changed the whole situation with transactions making them more transparent and safe as there is an opportunity to use smart contracts nowadays. The company is going to offer both cryptos and fiat money payment methods.
Bitcoin (BTC/USD) price analysis, July 3
Bitcoin continues to surprise investors as it added more than three percent in the past 24 hours. The flag pattern was true and those who bought from it had chances to grow their profits. However, we think that this uptrend is still on the way as new patterns appear on the hourly chart.
Let’s get down to the current situation. The currency pair has reached $6,510 target level on Monday-Tuesday and went even higher. However, we have some kind of a consolidation currently. BTC price resides between the resistance area at $6,718 and the support at $6,510. We have drawn another flag pattern, which is likely to be true again.
As for the perspectives for today, we think that investors still have fuel to drive BTC/USD higher. The flag pattern confirms it. However, there are two ways for Bitcoin to develop its growth. The first scenario– BTC/USD will start from the flag pattern and break through the resistance at $6,718 targeting the next resistance at $6,943.
There is also alternative growth scenario. Bitcoin will correct from its current position towards the closest support at $6,510 and start off from there. However, in this case, we expect the currency pair to reach the resistance at $6,718 at least.
Ethereum (ETH/USD) price analysis, July 3
Ethereum follows its allies as the currency pair shows more than four percent growth in the past 24 hours. ETH/USD reached its targets on yesterday and tested the resistance area at $473.39. Ethereum stops there for a while but we think it has still some fuel to develop its growth on Tuesday.
The currency pair has left the flag pattern on Monday-Tuesday and went upwards according to our expectations. Ethereum managed to jump off the support area at $453.24 and reached the resistance area at $473.39. It seems like ETH/USD has already jumped over $473.39. We have drawn another flag pattern.
The main scenario for the nearest future is bullish. We think that Ethereum will start to grow from the flag again and reach the next resistance area at $500.36. However, the currency pair may also retest the current support area at $473.39 before further growth.
Ripple (XRP/USD) price analysis, July 3
Ripple develops its upside progress on Tuesday as the currency pair reaches new highs. XRP/USD added more than five percent in the past 24 hours. The flag pattern was true and we have drawn another one which is also viable. Ripple looks very promising currently and seems to have enough power to develop its growth.
XRP/USD has jumped over the resistance area at $0.4744 on Monday-Tuesday and reached our targets. Bulls managed to drive it even higher. The currency pair works next flag pattern currently and seems to jump over the next resistance at $0.5088.
The main way for Ripple is to develop its growth in the nearest future. We have set a new target at the resistance area at $0.5444. XRP/USD is able to reach it even on Tuesday. However, we also think that it may test the support area at $0.5088 before taking off.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 3
Bitcoin, Ethereum, Ripple, EOS, NEM Grow, Bulls Smash Bears and Drive Markets Higher: Price Analysis July 2
Bitcoin and altcoins grow sharply, bulls finally make their counter attack
We think that the main reason for such a growth is the fact that Facebook has almost totally changed their minds towards cryptos. We have already mentioned in our previous reviews that Facebook administration is going to accept crypto ads.
Additionally, Facebook is going to acquire Coinbase and issue its own cryptocurrency. This U-turn may be the beginning of huge changes within the community.
As for news, Russia has delayed crypto law adoption putting it off until the end of summer. Russian policymakers asked for more time to make their decisions.
Bitcoin (BTC/USD) Price analysis, July 2
Bitcoin has added less than one percent in the past 24 hours, but the most important events happened on Saturday, when BTC price made a huge upside burst breaking through a couple of resistance areas. BTC/USD seems to finally find its support and thanks to news from Facebook the whole crypto market is positive currently.
Looking closer at the hourly chart we can see that BTC/USD has jumped over the resistance areas at $6,071 and $6,329. The currency pair stays above $6,329 in the moment of writing, we have a clear flag pattern, which means the probability for Bitcoin to develop its upside tendency.
We think that BTC/USD is going to grow higher targeting the closest resistance area at $6,510, where we have put the green flag. If buyers successful there, they will be able to drive the currency pair even higher targeting the next resistance at $6,943.
The less probable way for BTC/USD is to fall down towards the next support area at $6,071. The flag pattern will be broken in this case.
Ethereum (ETH/USD) Price analysis, July 2
The whole crypto market celebrates Facebook decision as Ethereum has made his way upwards on Saturday following Bitcoin. ETH/USD has almost no changes in the past 24 hours, but the momentum during the weekend was huge. The currency pair seems to change its moods to positive.
When we look closer at the hourly chart we can see that Ethereum has crossed $417.28, $431.42 resistance areas and is currently testing $453.24 resistance area. We have a flag pattern here as well-meaning bulls have chances to drive the currency pair even higher, targeting the next resistance at $473.29.
If buyers will be able to reach this green flag area, they will test it and once successful, they will be able to drive ETH/USD higher.
However, we advise paying attention to the red flag as well. If the flag pattern fails to develop, ETH price will fall towards the support area at $431.42.
Ripple (XRP/USD) Price analysis, July 2
Ripple has added more than one percent in the past 24 hours. The currency pair changed its moods on Saturday following important news from Facebook as famous social media makes a U-turn towards cryptos. Ripple has found support finally. The currency pair looks positive and is able to develop its success.
When we look closer at the situation on the hourly chart we can see that Ripple has jumped over the resistance area at $0.4495 and tested the resistance area at $0.4744. The currency pair forms a flag pattern currently meaning there are chances for buyers to develop their progress in the nearest future. We have set the next target for Ripple at the resistance area at $0.4918.
XRP/USD needs to jump over the closest resistance at $0.4744 naturally in order to get our short-term bullish targets. However, if buyers fail, bears will be able to take control and push XRP/USD lower, targeting the next support area at $0.4232.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 2
Bitcoin and altcoins grow sharply, bulls finally make their counter attack
We think that the main reason for such a growth is the fact that Facebook has almost totally changed their minds towards cryptos. We have already mentioned in our previous reviews that Facebook administration is going to accept crypto ads.
Additionally, Facebook is going to acquire Coinbase and issue its own cryptocurrency. This U-turn may be the beginning of huge changes within the community.
As for news, Russia has delayed crypto law adoption putting it off until the end of summer. Russian policymakers asked for more time to make their decisions.
Bitcoin (BTC/USD) Price analysis, July 2
Bitcoin has added less than one percent in the past 24 hours, but the most important events happened on Saturday, when BTC price made a huge upside burst breaking through a couple of resistance areas. BTC/USD seems to finally find its support and thanks to news from Facebook the whole crypto market is positive currently.
Looking closer at the hourly chart we can see that BTC/USD has jumped over the resistance areas at $6,071 and $6,329. The currency pair stays above $6,329 in the moment of writing, we have a clear flag pattern, which means the probability for Bitcoin to develop its upside tendency.
We think that BTC/USD is going to grow higher targeting the closest resistance area at $6,510, where we have put the green flag. If buyers successful there, they will be able to drive the currency pair even higher targeting the next resistance at $6,943.
The less probable way for BTC/USD is to fall down towards the next support area at $6,071. The flag pattern will be broken in this case.
Ethereum (ETH/USD) Price analysis, July 2
The whole crypto market celebrates Facebook decision as Ethereum has made his way upwards on Saturday following Bitcoin. ETH/USD has almost no changes in the past 24 hours, but the momentum during the weekend was huge. The currency pair seems to change its moods to positive.
When we look closer at the hourly chart we can see that Ethereum has crossed $417.28, $431.42 resistance areas and is currently testing $453.24 resistance area. We have a flag pattern here as well-meaning bulls have chances to drive the currency pair even higher, targeting the next resistance at $473.29.
If buyers will be able to reach this green flag area, they will test it and once successful, they will be able to drive ETH/USD higher.
However, we advise paying attention to the red flag as well. If the flag pattern fails to develop, ETH price will fall towards the support area at $431.42.
Ripple (XRP/USD) Price analysis, July 2
Ripple has added more than one percent in the past 24 hours. The currency pair changed its moods on Saturday following important news from Facebook as famous social media makes a U-turn towards cryptos. Ripple has found support finally. The currency pair looks positive and is able to develop its success.
When we look closer at the situation on the hourly chart we can see that Ripple has jumped over the resistance area at $0.4495 and tested the resistance area at $0.4744. The currency pair forms a flag pattern currently meaning there are chances for buyers to develop their progress in the nearest future. We have set the next target for Ripple at the resistance area at $0.4918.
XRP/USD needs to jump over the closest resistance at $0.4744 naturally in order to get our short-term bullish targets. However, if buyers fail, bears will be able to take control and push XRP/USD lower, targeting the next support area at $0.4232.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, July 2
Bitcoin, Ethereum, Ripple, EOS, NEM Test Their Local Lows: Price Analysis, June 29
Bitcoin and altcoins reached local lows, but still unable to break them
The situation has changed slightly as cryptocurrencies from the top 20 declined on Friday and some of them test their local lows. However, in general, we can say that nothing has changed as cryptos still fail to establish new dips.
As for interesting news, the crypto community continues to discuss the situation around Facebook. Earlier in 2018, the famous and one of the most popular social media has banned all ads related to cryptocurrencies. However, this week they have changed their mind and weakened the restrictions, but ICOs are still banned.
Another interesting news comes from Foley & Lardner, a law company that has conducted a survey among different member of the crypto industry. They have revealed that community wants more and better regulation for digital assets. Around 84 percent of respondents think that ICO should under regulation. A huge amount of people interviewed want trading operations to be regulated as well.
Bitcoin (BTC/USD) Price analysis, June 29
Bitcoin has lost almost four percent in the past 24 hours, but in general, the situation is neutral as BTC price has not established new lows, bears seem unable to make it as bulls do not let them push the currency pair lower.
When we zoom in the hourly chart we can see that BTC/USD has broken through the support area at $6,071 on Friday and is testing the last retracement level 4.236. If bears are successful, they will be able to reach the next support at $5,715. The possible ways for BTC/USD are the following:
1. Red scenario (bearish). The currency pair will confirm the breakout of 4.236 and move lower targeting the next support at $5,715.
2. Orange scenario (neutral). Bitcoin will stay within the range and fail its support area testing. BTC price will fluctuate within the support at 4.236 and the resistance at $6,071. We think that this scenario is most likely than the others for Friday.
3. Green scenario (bullish). The currency pair will jump over the resistance at $6,071 and move higher targeting the next resistance at $6,329.
Ethereum (ETH/USD) Price analysis, June 29
Ethereum has lost more than three percent in the past 24 hours. The currency pair is testing its local lows in the moment of writing, wave after wave, bears are trying to push it lower. ETH/USD still neutral, but once the lows are broken, the currency pair will be able to develop its downside progress.
When we zoom in the hourly chart we can see that ETH/USD is testing the support area at $417.28. The currency pair has broken through the support area at $431.42 on Friday and stays close to the next support in the moment of writing. The possible scenarios for ETH/USD are the following:
1. Red scenario (bearish). The currency pair will jump over the support area at $417.28 and develop its downside momentum towards the next support at $404.55.
2. Orange scenario (neutral). Ethereum will stay within the current range on Friday limited by the support area at $417.28 and the resistance at $431.42. We think that this is the most probable one for Friday.
3. Green scenario (bullish). ETH/USD will jump over the resistance area at $431.42 and move higher towards the next resistance at $453.24.
Ripple (XRP/USD) Price analysis, June 29
Ripple has lost more than four percent in the past 24 hours, but the currency pair remains neutral as it failed to establish new lows on Friday. The currency pair is above the descending trend line, but is still unable to move higher.
When we look closer at the hourly chart we can see that Ripple has tested the resistance area at $0.4744, but failed to jump over it and retreated later. Ripple has reached the support area at $0.4495 on Friday and is currently testing it. The possible ways for XRP/USD are the following:
1. Red scenario (bearish). Ripple will break through the support are at $0.4495 and develop its downside progress towards the next support at $0.4232.
2. Orange scenario (neutral). XRP/USD will stay above $0.4495 and fluctuate there, between this support and the resistance at $0.4744. We think that this scenario is the most likely for Friday.
3. Green scenario (bullish). Ripple will cross the resistance are at $0.4744 and move higher targeting the next resistance at $0.4918.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, June 29
Bitcoin and altcoins reached local lows, but still unable to break them
The situation has changed slightly as cryptocurrencies from the top 20 declined on Friday and some of them test their local lows. However, in general, we can say that nothing has changed as cryptos still fail to establish new dips.
As for interesting news, the crypto community continues to discuss the situation around Facebook. Earlier in 2018, the famous and one of the most popular social media has banned all ads related to cryptocurrencies. However, this week they have changed their mind and weakened the restrictions, but ICOs are still banned.
Another interesting news comes from Foley & Lardner, a law company that has conducted a survey among different member of the crypto industry. They have revealed that community wants more and better regulation for digital assets. Around 84 percent of respondents think that ICO should under regulation. A huge amount of people interviewed want trading operations to be regulated as well.
Bitcoin (BTC/USD) Price analysis, June 29
Bitcoin has lost almost four percent in the past 24 hours, but in general, the situation is neutral as BTC price has not established new lows, bears seem unable to make it as bulls do not let them push the currency pair lower.
When we zoom in the hourly chart we can see that BTC/USD has broken through the support area at $6,071 on Friday and is testing the last retracement level 4.236. If bears are successful, they will be able to reach the next support at $5,715. The possible ways for BTC/USD are the following:
1. Red scenario (bearish). The currency pair will confirm the breakout of 4.236 and move lower targeting the next support at $5,715.
2. Orange scenario (neutral). Bitcoin will stay within the range and fail its support area testing. BTC price will fluctuate within the support at 4.236 and the resistance at $6,071. We think that this scenario is most likely than the others for Friday.
3. Green scenario (bullish). The currency pair will jump over the resistance at $6,071 and move higher targeting the next resistance at $6,329.
Ethereum (ETH/USD) Price analysis, June 29
Ethereum has lost more than three percent in the past 24 hours. The currency pair is testing its local lows in the moment of writing, wave after wave, bears are trying to push it lower. ETH/USD still neutral, but once the lows are broken, the currency pair will be able to develop its downside progress.
When we zoom in the hourly chart we can see that ETH/USD is testing the support area at $417.28. The currency pair has broken through the support area at $431.42 on Friday and stays close to the next support in the moment of writing. The possible scenarios for ETH/USD are the following:
1. Red scenario (bearish). The currency pair will jump over the support area at $417.28 and develop its downside momentum towards the next support at $404.55.
2. Orange scenario (neutral). Ethereum will stay within the current range on Friday limited by the support area at $417.28 and the resistance at $431.42. We think that this is the most probable one for Friday.
3. Green scenario (bullish). ETH/USD will jump over the resistance area at $431.42 and move higher towards the next resistance at $453.24.
Ripple (XRP/USD) Price analysis, June 29
Ripple has lost more than four percent in the past 24 hours, but the currency pair remains neutral as it failed to establish new lows on Friday. The currency pair is above the descending trend line, but is still unable to move higher.
When we look closer at the hourly chart we can see that Ripple has tested the resistance area at $0.4744, but failed to jump over it and retreated later. Ripple has reached the support area at $0.4495 on Friday and is currently testing it. The possible ways for XRP/USD are the following:
1. Red scenario (bearish). Ripple will break through the support are at $0.4495 and develop its downside progress towards the next support at $0.4232.
2. Orange scenario (neutral). XRP/USD will stay above $0.4495 and fluctuate there, between this support and the resistance at $0.4744. We think that this scenario is the most likely for Friday.
3. Green scenario (bullish). Ripple will cross the resistance are at $0.4744 and move higher targeting the next resistance at $0.4918.
Take a look at EOS (EOS/USD) and NEM (XEM/USD) Price Analysis, June 29
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