Cryptocurrency Coin Price Prediction

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The bitcoin and altcoin prediction posts below are integrated into a formulaic fashion by blending today's current value analysis with tomorrow's future forecast outlook together. Finally, we mix in all bold blasts from the past to reanalyze historically-dated pricing overviews as a reference point.

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  • Today's Top Cryptocurrency Coin Price Predictions
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  • Top Altcoin Price Predictions for Each of the Most Popular Tokens along with Bitcoin (BTC)

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Today's Top Crypto Coin Market Price Analysis:

Here is the April 12, 2019 crypto price predictions for the top tokens of today:

Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) Analysis: Today's Top Price Prediction

First, make sure you click on today's post above to see all of the latest coin price action. Second, we have combined all of our top past analysis by date to see the market snapshots.

Latest Cryptocurrency Market Value Forecasts:

Here is yesterday's bitcoin and altcoin price prediction forecast followed by all prior analysis.

Contents

Crypto Price Analysis: (BTC,ETH,LTC,BCH): May 17, 2019

BTC/USD

Bitcoin has reached $8302.4 at its highest point yesterday but started decreasing from there at first slowly but then with strong momentum as the price fell to $7005.8 at its lowest spiked today which was a decrease of 15.62%. The price is currently being traded at $7269 as a small recovery has been made.

Looking at the 15-min chart, we can see that the price broke out from the ascending channel on the downside and has come down to its first significant support level around the 0.236 Fibonacci level where it is establishing support. The ascending channel was viewed as a continuation pattern with another final push to the $8515 significant horizontal resitance level expected to play out but it now looks like the 5th wave of every count has ended which is why a sharp downturn has been made.

This sharp downturn was expected after the completion of the 5th wave and now that the ending wave has developed fully it likely started. The five-wave move seen from 26th of April is considered the 5th wave from the higher degree count which also ended with the mentioned wave as it is the sub-wave of the impulsive move. This is why now I would be expecting to see the price of Bitcoin going significantly lower than the current levels as the price is in a lookout for support.

The Fibonacci level currently offers support but strong seller's momentum has been seen in the last 24 hours which could indicate that the higher degree downturn has in fact started. The price of Bitcoin could now go back to $6250 significant resistance area for a retest of support but since the area hasn't offered much resistance on the way up it is still unclear whether or not the level will serve as support which opens the possibility of further lows.

ETH/USD

From yesterday’s high at $277.7 the price of Ethereum has decreased by 17.87% today measured to the lowest level the price has been which is at $228 around which it is currently being traded.

On the 15-min chart, we can see that after the completion of the presumed 3rd wave a downtrend has started which could be the 4th one out of the Minute count. As the price is in a downward trajectory further downside movement would be expected to some of the significant support levels out of which the first one would be at the 1.618 Fibonacci level.

The next one would be at the broken ascending resistance level form the ascending channel in which the price has been from 26th of April but managed to breakout impulsively to the upside. If we are seeing the development of the five-wave impulse out of which the current move to the downside is its 4th that would mean that another increase would come before the end of the five-wave impulse as the price is set to go further to the upside.

This is soon to be verified from the found support as we could have seen the end of the five-wave move altogether.

LTC/USD

Litecoin has decreased by 18.96% from yesterday's high at $106.26 as it came down to $86.11 at its lowest point today. The price is currently being traded at around $87 as temporary support has been found at the lower range resistance level.

Looking at the 15-min chart, we can see that the price of Litecoin fell to the significant resistance zone from the vicinity of the 1st wave's ending point where it found some support and has retested the level on two occasions. The downfall was made after the price interacted with the resistance level of the expanding triangle in which it was since the last runup from the horizontal resistance zone and a breakout form the structure has been made.

This breakout could indicate that the five-wave increase ended as the price started moving impulsively to the downside. There could still be a possibility of another increase as the price hasn't come up to the significant horizontal resistance at $109.35 for an interaction in which case the expanding triangle wave structure would still be the part of the 3rd wave. This will soon be verified as the price is on the 1st wave's ending point vicinity so if it starts entering the territory of the 2nd the possibility would be overruled.

More likely we've seen the completion of the upward move which was a five-wave impulse and as the price started moving impulsively to the downside with strong momentum it could very well be the start of the higher degree downtrend.

BCH/USD

From yesterday’s high at $444.4 the price of Bitcoin Cash has decreased by 23% as it came down to $342 at its lowest point today around which it’s currently being traded.

On the 15-min chart, we can see that after the development of the ascending channel which could be the ending wave out of the higher degree impulse a breakout to the downside was made.

This breakout could indicate that the higher degree downturn has started but it could very well be another retracement before further upside. As the price is now sitting around the vicinity of the beginning point of the ascending channel we are to verify the possibility as if the price continues moving to the downside it would likely mean that it is, in fact, the start of the higher degree downtrend.

Conclusion

The cryptocurrency market has experienced a sharp downturn like expected which could be the started of the higher degree downtrend which is set to start after the completion of the five-wave impulse wave to the upside.

Another possibility would be that the price is experiencing another minor correction before further upside movement but as shown by the momentum behind the sell-off it is likely the beginning of the higher degree downtrend.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC,EOS): May 16, 2019

Bitcoin Price Analysis: BTC/USD Exchange Rate Value

The price of Bitcoin has been moving sideways from yesterday as it came from $7682 at its low close to yesterday's open to $8319 at its highest today, but started decreasing from there and fell back to $7779.6 at its lowest point today. Since then the price has recovered slightly and is currently sitting at $7832.3 with the price trying to keep up the upward momentum but is currently retesting its significant support level which may break if the momentum fails to keep up.

https://www.tradingview.com/symbols/BTCUSD/ (click to enlarge)

As you can see by looking at the hourly chart, the price is currently retesting its significant support level from the ascending channel which was formed from Monday when the price came up to $8000 level. Since then the price action has shown an ascending movement which indicates that the buyers are still pushing the price but the bear territory is getting close which is why we have seen the exhibited seller's pressure pushing the price down by 5.84 today.

This ascending channel like the others we've seen on the way up is a continuation pattern and is most likely the 4th wave of the lower degree count from the 5th wave of the higher degree count and is a three-wave correction. Since this is viewed as a corrective movement another increase would be expected after its completion and the most optimal price target for its end would be at the significant horizontal resistance level at $8515.

Ethereum ETH/USD Anaylsis

On the last run up the price of Ethereum has gone from $204 to $272.2 which was an increase of 33.4% in one go. Since today’s high the price has started moving to the downside and is currently being traded at $246.95.

https://www.tradingview.com/symbols/ETHUSD/ Click to see the full-size image

Looking at the hourly chart you can see that the price of Ethereum broke out from the ascending channel in which it was since 26th of April an that with strong momentum. The price is in its last, 5th wave of the Minor count but the wave still hasn’t ended as it looks like we have seen the development of the 3rd wave from the lower degree count.

Now that the price is starting to move to the downside and we have likely seen the end of the 3rd wave, the 4th corrective wave is developing and is most likely headed down to the broken ascending resistance line for a retest of support.

After the current downside movement, another increase would be expected with the price potentially going all the way up to $300 which is its next significant horizontal resistance.

Litecoin (LTC/USD) Analysis

The price of Litecoin has increased by 26.8% from Monday's low at $84.32 coming to $106.93 at its highest point today but since then has made a sharp downturn with a decline of 15.49% as it came down to $90.334 at its lowest spike today.

https://www.tradingview.com/symbols/LTCUSD/ Click to see the full-size image

The price is currently being traded around $93.4 as the buyers have stepped in to catch the price from the straight downfall around the vicinity of the prior high's ending point which offers to serve as support as indicated by the large wick from the upside on the last hourly candle.

Looking at the hourly chart, we can see that the price of Litecoin formed an expanding triangle from Monday with the price moving in between its levels. This structure is considered to be the 5th wave from the upward impulse wave and is the continuation of the breakout momentum from the previous descending triangle which started on the 29th of April. As we are seeing the development of the last wave very soon we are to likely see a steep downturn but today's one might not be it as another impulsive move to the upside looks likely before its completion.

Expanding triangle seen from Monday was leading the price to the significant horizontal resistance level at $106 but the price still hasn't come up to the level for the expected interaction and considering that we have seen the 4th wave out of the higher degree ending wave I believe that another increase is to occur before we see a higher degree downturn and the most optimal ending point for the completion of the upward move would be the mentioned horizontal resistance level.

EOS/USD

From Monday's open at $5.33 the price of EOS has increased by 28.51% as it came up to $6.86 at its highest point today.

https://www.tradingview.com/symbols/EOSUSD/ Click to see the full-size image

Looking at the hourly chart, you can see that the price reached the significant horizontal resistance level today which is why the price has started pulling back as it encountered strong resistance at the current levels. The price hasn't fallen below the 0.236 Fibonacci level which serves as a support, but further downside could be expected from the current retracement as we are most likely seeing the development of the 4th wave out of the five-wave impulse of the Minuette count.

This five-wave impulse is the ending wave of the higher degree count both on a Minute and the Minor degree which is why after its completion a higher degree decrease would be expected, but since we haven't seen the end of the impulse wave before it ends we could potentially see the price of EOS going as high as $9.1 where the next significant Fibonacci level is, although I would expect the price ending its wave structure around $7.5 more optimally.

Conclusion

The prices of the major cryptos are starting to move to the downside but even though a sharp downturn is expected after the completion of the bullish uprising, this probably isn’t it and is more likely a lower degree retracement before the final increase which is set to push the prices for an interaction with their next significant resistance points where they would get rejected and will start moving to the downside with strong momentum.

Author: Nikola L


Crypto Price Analysis: (BTC,LTC,BCH): May 15, 2019

  • The coin market cap is at $243.58 billion, up from $231.38 Billion yesterday
  • Global crypto asset traading volume is at $94 billion, up from 80 billion in the last 24 hours

BTC/USD

From yesterday's open at $8013 the price of Bitcoin hasn't changed much as it is now hovering around the same levels. The price fell from the opening level to $7650 at its lowest point today but has since then come up and is currently being traded at $8042. On the hourly chart, you can see that the price started moving in an upward trajectory from today's spike to the downside but hasn't been able to move above the yesterday's high before encountering strong resistance at the current levels. This is indicated by the first attempt ending as rejection with a slight pullback and the wick from the upside on the current hourly chart with the price entering into a second attempt.

As the price is in an upward trajectory further upside would be expected but as we are seeing the completion of the ending wave I wouldn't expect it to go beyond the significant horizontal resistance level at $8515. This level is significant as it is the ending point of the runup made on the 24th of July last year after which the price of Bitcoin started moving sideways before a downfall to $3226 level was made.

We are seeing the ending 5th wave on every count which is why after the completion of the current upside move I would be expecting a downturn in the market, and with the price of Bitcoin moving parabolically to the upside the expected downtrend could be equally powerful. Parabolic moves usually tend to end with an equally strong correction as the unsustainable momentum ends.

It is still unclear whether or not we are seeing the three-wave correction to the upside or a five-wave impulse. The currently seen 5th wave from the Minor count could be the 3rd wave of a higher degree count or it could be the end of the three wave correction which is why we are to evaluate the possibility of both scenarios from the expected downtrend and its depth and momentum.

If the price manages to hold above the broken significant resistance area at $6250-6500 on the expected downward move, it would likely mean that it was the 4th wave from the five-wave impulse, but if the price continues moving below and enters the territory of the lower range it would most likely continue falling down to the next significant broken resistance at $4300 and would likely mean that we have seen a three-wave correction to the upside with new lows ahead.

BCH/USD

From Monday’s low at $350.4 the price of Bitcoin Cash has increased to $409 at its highest point yesterday which was an increase of 16.72%. Since yesterday the price has pulled back and came down to $370.4 but started moving to the upside again and is currently being traded at $387.3.

On the hourly chart, you can see that the price of Bitcoin Cash continued its increase which started on the 28th of January as a breakout from the descending channel in which it was correcting. As we are seeing the development of the five-wave move to the upside the increase seen from 29th of April is its ending wave.

The further upside would be expected from here but only as a yet another minor increase as the price approaches the significant resistance area at $450 whose interaction is awaited. The interaction would be expected to end as rejection with the price starting a downtrend after and is likely headed down to some of the broken support levels for an establishment of support.

LTC/USD

The price of Litecoin has been trading around $87 on yesterday's open and from there increased by 9.58% measured to the highest point the price has been today which is at $95.411. Since then, the price has pulled back and is currently being traded at $92.4 but with the price being in an upward trajectory this could only be a small retracement before further upside.

Looking at the hourly chart, you can see that the price hasn't gone below the $84.3 level which was a significant invalidation level of the bullish count. As further upside movement has been seen since yesterday's pullback we are likely seeing the development of the five-wave move rather than a three-wave correction like presumed before. If this is true then further increase would be expected as the 5th wave should develop fully and the most optimal price target for its completion would around the vicinity of the high made on 3rd of April or even further above to the significant horizontal level at $109.356.

This expected increase would be the ending wave of the increase which started on the 29th of April when the price of Litecoin was sitting at $69.5 inside the territory of the descending triangle from which a breakout was made to the upside. This breakout momentum was at first views as correctional but since we have seen the price hold above the mentioned significant horizontal resistance and continued on increasing it is now being viewed as an impulsive move.

The upward move has still more room to go but as we are seeing the ending wave it is likely to end soon as interaction with some of the significant resistance levels out of which the $109.356 is the most significant one. I would be expecting that the interaction ends a rejection with the price starting to move to the downside after and would most likely go back to some of the significant support levels which were broken on the way up.

Conclusion

The cryptocurrency market has continued increasing but is in its last stages as the price charts are showing the ending waves, which is why further upside would be expected but only as a minor one which is set to reach significant resistance points whose interaction is being awaited.

As we are seeing the ending waves, shortly a downturn would be expected to play out either as a correction before further upside or the start of the higher degree downtrend altogether as the upward movement seen in the following period could be corrective.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,LTC): May 14, 2019

Bitcoin Price Analysis Today: BTC/USD

The price of Bitcoin has continued increasing over the weekend and has come up from $6225 on Friday's low to $8166 at its highest point today which is an increase of 31.5%. This increase is a continuation of the impulsive move which started on the 26th of April and is the ending wave of the higher degree count.

The price broke the significant resistance level at around $6250 which is highly significant as it was the major support point on the way down. This could indicate the start of the bull market and considering the momentum behind the upward movement, this could be likely.

We are seeing the 5th wave off of the five-wave impulse of the Minute count near completion but there is still more room to the upside before it ends. The price action has started forming an ascending channel from yesterday which is why more upside would be expected from here but since this would be the end of the higher degree 5th wave as well, a higher degree downturn would be expected shortly.

From this downturn, we are to reevaluate the possibility of the starting bull market as from its momentum and depth will depend the primary count. For now, we are seeing the three wave upswing from 15th of December which could still end as a correction, so now as the price broke significant resitance point it needs to stay above. If the price holds above the $6250 level on the retracement it would mean that we have seen the 4th wave with another increase incoming which will confirm the possible bear market bottom and the start of the bull market but if the price goes below it and enters the territory of the ascending channel we could see further downside with lower lows for the leading cryptocurrency, Bitcoin.

ETH/USD

From yesterday’s open at $187.51 the price of Ethereum has increased by 13.09% as it came up to $212 level today at its highest point and is currently being traded at $206.8 as a small retracement has been made.

Looking at the hourly chart you can see that the price reached the significant resistance from the ascending channel in which it was since 26th of April when the 5th wave out of the Minor count started.

As we’ve likely seen the completion of the 3rd wave of the lower degree Minute count and the price reached its significant resistance a pullback would be expected to the significant horizontal support level at $187.51 on which the price found support and continued increasing after yesterday’s interaction at the opening of the trading session.

As this pullback would be the 4th wave another increase would likely occur as the 5th wave of the Minute count should develop to the upside and the potential price target would be at around $242 level or somewhere in that vicinity around the significant resistance level.

XRP/USD

The price of Ripple has increased by 29% from yesterday's low at $0.3106 to today's highest point at $0.40066. As the price spiked to the upside quickly a pullback has been made with the price currently being traded at around $0.3783 level.

Looking at the hourly chart, we can see that the price came up above the significant ascending trendline which is the baseline support dating from August 2017 and is the most important trendline which was never broken until recently on 24th of April when the price came below it but found support on the significant horizontal level at $0.29405. As the interaction with the horizontal support level was made twice and the price found support, an impulsive move to the upside started.

This is most likely the 3rd wave from the five-wave impulse wave as the first one began after the first interaction with the mentioned significant horizontal level and the second interaction which further established support was its 2nd. If this is true then now after the third wave most likely ended around the 0.618 Fibonacci level a retracement would be expected. The most optimal scenario would be that the price comes back to the ascending level (baseline support) from a retest of support and finds support there before continuing its bullish momentum.

If the price goes below it, it would invalidate the count as the price would enter the territory of the presumed 2nd wave which it cannot do on the 4th. As prior to the upside move we've seen a correctional descending structure which pushed the price below the significant support, the price has likely started an attempt to move back up above its mean line.

LTC/USD

From yesterday's open at $84.94 the price of Litecoin has increased by 8.79% today as it came up to $92.415 at its highest point today. Since then a minor pullback has occurred with the price currently being traded below $90 as the price entered back inside the territory of the ascending channel which has been formed by the price action from yesterday's open.

On the hourly chart, we can see that the price increased by with slow momentum and has been struggling to move above the previous high as strong resistance was again encountered at those levels. After the previously seen increase ended in a five-wave manner, an ABC correction to the downside has developed and now we have seen the completion of another lower degree five-wave move to the upside.

This could indicate another starting uptrend movement as the next impulse wave to the upside develops which we are to see shortly as the move has likely ended which mean that now we are to see a pullback. If the price doesn't go below the broken horizontal resistance area before starting to move impulsively to the upside again, we are likely seeing the development of the next impulse wave which is set to push the price above the previous high. As this would be presumed to be the 2nd wave from the lower degree count it couldn't go below yesterday's open at $84.342 which is the presumed starting point of the 1st wave.

If the price goes below the level it would mean that the ascending channel formed from yesterday was corrective and could indicate further downside moves which would, in that case, validate the count in which have seen correctional three-wave move instead on an impulsive one.

Conclusion

The prices of the major cryptos have continued increasing but have reached a significant resistance point and are showing signs of weakness. Even though the momentum is slowing down further increase could be seen before the expected downturn in the market.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,LTC): May 13, 2019

  • The coin market cap is at $231.38 Billion, up 47 Billion in the last 7 days
  • Global crypto asset trading volume is at $80 billion in the last 24 hours

Bitcoin Price Analysis: BTC/USD Exchange Rate

From Friday, when the price of Bitcoin was $6220 at it’s lowest point we have seen an increase of 19.31% measured to yesterday’s high at $7421.6. but immediately made a corrective decline to $6870. Since yesterday the price has started increasing again as it came up to $7341.4 at its highest point today.

Looking at the 5-min chart, we can see that the price broke out from the significant resistance encountered at around $6250-6500 with strong momentum.

This breakout hasn’t been my primary expectation as I thought that we are seeing the 5th wave as an ending diagonal but the ascending structure proved to be the 4th wave correction after all which is why the 5th wave developed further beyond its resistance level.

The price action created an ascending channel that led the price above the significant horizontal resistance level and the ascending resistance after which a minor pullback to retest the mentioned levels for support was made.

This could have been the first two waves out of the five-wave move to the upside if we follow the channeling principle. The formation of another ascending channel followed but this time a steeper one as the breakout momentum increased.

Today’s Bitcoin increase would according to this count be the 5th wave which is set to surpass the Sunday’s high which is why further upside could be expected potentially to $7723 level before we see the expected downturn as the higher degree impulse wave would end.

Today's ETH/USD Price Forecast

From Friday’s low at $171.4 the price of Ethereum has increased by 18.66% measured to the Sunday’s high at $203.19. On the same day, the price fell to $184 area but from there managed to recover above the significant horizontal level at $187 and is currently being traded at $194.25.

Looking at the hourly chart you can see that the price came above the mentioned significant horizontal support once again but has now been stopped out at the 1.272 Fibonacci level which is serving as resistance.

The price managed to pull above the Fibonacci level and is currently interacting with it from the upper side which could be a retesting of support. If the support holds further higher high would be expected above Sunday’s one but we could have seen the end of the impulsive move with today’s increase being a corrective 2nd wave of the higher degree move to the downside.

This will shortly be verified as if the price fall below the significant support it would most likely mean that the 5th wave of the Minor count ended with the price being in a corrective increase not surpassing the Sunday’s high, but if the price hold above it and continues increasing past the Sunday’s high further upside would be expected before the end of the Minor 5th wave.

Today's XRP/USD Price Analysis

The price of Ripple came up from $0.29405 at its lowest point on Friday to $0.33576 at its highest on Sunday which was an increase of 14.22%. After the increase ended the price fell by a little over 8% on the same day to $0.308.

Today we have seen recovery as the price came to $0.328 around where it is currently being traded.

Looking at the 15-min chart you can see that the price increased impulsively to the upside from the interaction with the significant horizontal support level made on Friday’s low. As we are most likely seeing a five-wave increase further upside movement would be expected potentially to the next Fibonacci level to the upside which is at 0.328 or in price terms at $0.3496.

Litecoin (LTC/USD) Price Prediction Today

Over the weekend the price of Litecoin increased by 28.13 as it came up from $73.68 on Friday's low to $94.412 at its highest point on Sunday bu the price declined by over 10%, falling down to $84 level on the same day above which it has been traded currently.

On the 15-min chart, you can see that the price came up to the projected level but hasn't come down first like expected. The presumed B wave ended inside the descending triangle on the last ABC correction of the Subminor count but this doesn't reflect the higher degree count which is viewed as potentially correctional because the price broke out from the descending channel on 30 of April in a three-wave manner.

This breakout could very well be the first wave of the five-wave impulse to the upside in which wave case the price cannot go below the $84 level which it has successfully done since Sunday, but as the price came down shart indicating strong sellers pressure it might start doing so very soon. If however, the price holds above it and from today's low we see further increase above $94.35 it would mean that we have seen the five-wave impulse potentially as the first wave of a higher degree rather then an ABC correction to the upside.

After the price completes the current increase we are soon going to receive a proper validation but as the price structure is currently forming another micro ascending structure it is likely to end as another minor increase that could be the second wave of the higher degree move to the downside and especially as the price action moved in five waves but correctively this looks like a more likely outcome.

Conclusion

The prices have increased over the weekend which is the ending wave from the increase of a higher degree which started on 4th of May. As we are seeing the 5th wave developing very are to see further upside movements but shortly the start of a downtrend would be expected as the price increase is near completion.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC): May 10, 2019

Bitcoin BTC/USD Price Watch

On yesterday's open the price of Bitcoin was $6140 we have seen an increase to $6300 area but a decrease afterward to $6180 level. From there the price started increasing again and has come up to $6300 around today's open and continued increasing until it reached $6438 which is the highest point today.

Looking at the 15-min chart, we can see that the price of Bitcoin came up to the projected level but has managed to go slightly above it. As the price has encountered resistance, indicated by the formed cluster, we have seen a minor retracement staring to develop. The price currently in a descending movement but the further increase could be expected as the C wave of the presumed ABC correction is to develop.

The C wave could have ended as I see a five-wave move but its degree is still unclear as it could be the 3rd wave from the higher degree. The price has entered the seller's territory above $6256 which was pointed out as a likely scenario in my previous posts and considering that we are seeing the last stages of the five-wave impulse from the Minor count I believe that the sell-off will start very soon.

This would be the end of the WXY correction from 15th of December which developed as a retest of the significant horizontal support around $6250 which got broken on 14th of November last year when the price of Bitcoin came down from $6500 to $3226 in two goes. In the first go the price dropped from $6477 to $3694 in 14 days which was a 42.96% decrease and after recovering to $4448, continued decreasing for another 27.65% to $3226. Considering that now the price took 147 days to recover back to the broken support level I am certain that we are seeing a corrective move which is why I believe that now as we are seeing the completion of the Y wave from the WXY correction further trend continuation to the downside.

This will be verified by the price behavior at certain key support points when the price starts going to the downside but for now, in, either way, I would be expecting the start of a downtrend.

Ethereum ETH/USD Price Watch

From yesterday’s low at $171.13 the price of Ethereum has increased by 3.79% measured to today’s high at $177.62. Since then the price has pulled back and is currently being traded at $174.5 and is still in a downward trajectory.

On the hourly chart, we can see that as the five-wave impulse ended so did most likely the 5th wave from the Minor count which is the Y wave from the higher degree WXY correction. If this is true then the move to the downside that started after the price got rejected by the $187 horizontal support level now verified as resistance, if the start of the downtrend of a higher degree.

You can see that the price fell down in a five-wave manner indicating impulsiveness and has since formed a three wave correction to the upside which is labeled as an ABC and could be the 2nd wave of a higher degree move if we are seeing the beginning of the downtrend.

The other possibility would be that the price action formed a since ABC correction out which ended on the yesterday’s low in which case the increase seen today could be the start of the next impulse wave if the 5th wave hasn’t ended.

This will soon be verified as if the price continued moving below the current level it would mean that today’s increase ended as a three-wave move and is the C wave like depicted on the chart above, but if the price find support here and continued increasing above the labeled descending resistance level the increase would end in a five-wave manner which will increase the likelihood of another impulse wave to the upside.

Litecoin LTC/USD Price Watch

From yesterday's high at $78.433 the price of Litecoin has decreased by 6.03% today, measured to its lowest point at $73.7. Since then, recovery has been made with fast momentum as the price increased to $79 which was a 7.19% increase in a matter of 15 minutes.

The price is currently being traded at $76.3 as the spike to the upside was an interaction with the descending resistance from the triangle in which the price is correcting from Saturday. The correction developed after the price broke out from the descending triangle of a higher degree but since it hasn't developed in a five-wave manner and rather ended on a three-wave move this breakout will most likely not continue pushing the price further to the upside.

After the presumed ABC to the upside ended we have seen and lower degree ABC move followed by a five-wave move to the upside after which another ABC correction developed. These three structures could have constituted a higher degree three wave correction in which case today's increase could be the beginning of the next move to the upside that is set to push the price for a breakout to the upside, but as the price got rejected by the descending triangles resistance and considering that the price hasn't interacted with some of the significant support levels I believe that further downside movement should be expected to around $72 level or even further below.

Even if we see a breakout to the upside from the descending triangle I think it could be the third wave out of the higher degree move to the upside out of which the first ABC correction to the upside would be its first wave. As the price is now in a downward trajectory we are going to see if the projection holds, as if the price falls below $74.5 I would consider changing it.

Conclusion

The cryptocurrency market has increased slightly in the last 24 hours but the increase seen hasn’t changed the big picture and only interacted with the significant resistance levels seen on the price charts of the major cryptos covered in today’s analysis.

As the decease started from its momentum and depth we are going to see and evaluate the potential of the further increase but for the the picture still looks bearish.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,EOS,LTC): May 9, 2019

BTC/USD

From yesterday's low at around $6007 the price of Bitcoin increased by around 5% as it came up to $6308 at its highest point today. Since the interaction with the current ascending range ended as a rejection the price has started falling down fast and decreased by over 2% and is currently being traded at $6183.

Like expected the price continued its increase as the last ABC to the upside is developing and we could have seen the end of it as interaction has been made with the price moving in a three-wave manner. If the price ended its ABC correction to the upside that would have been the end of the five-wave impulse of the Minute count and with it the end of the 5th wave of the higher degree Minor count. As we are seeing downside movement with strong momentum a breakout to the downside would be expected below the lower ascending trend-line which is the support level from the ascending channel made from 3rd of May.

We might see another increase before the start of the expected downside move but not above the upper ascending trend-line with whom the interaction would trigger another sell-off. If the price of Bitcoin falls below the $6154 level which is the horizontal resistance level now serving as the support we are likely seeing the development of the downtrend which is set to push the price below its current significant support but if the price hold above the mentioned level we could likely see another interaction with the ascending resistance level before the downtrend starts.

ETH/USD

Yesterday, the price of Ethereum decreased from $183.4 to $172.47 which was a decrease of around 6% in a matter of hours. Since then the price has been on the rise but hasn’t recovered by much before going back to the yesterday’s low level around which it is currently being traded.

On the 15-min chart, you can see that the price came again to its significant horizontal support level and continued moving slightly below it but has managed to stay above the 1 Fibonacci level.

The projected scenario is still in play but we might have seen the end of the five-wave impulse particularly considering that the decrease seen from Tuesday was made in a five-wave manner after which a three-wave increase occurred. This is typical for an ABC Zigzag which develops in 5-3-5 wave manner so is the price continued decreasing below the current support it would do so in another five-wave move as the C wave should develop.

But if the price finds support here we could see another impulsive move to the upside.

LTC/USD

Over the weekend the price of Litecoin has continued increasing as it came up from Friday's open at $76.11 to $86.4 at its highest point on Saturday which was an increase of 13.66%. From there as the price increased parabolically we have seen a correctional structure forming which pushed the price for a 12.82% retracement as the price came down to $75.4 at its lowest point today.

Looking at the hourly chart, you can see that the price of Litecoin came down to its first significant support level from the descending triangle formed by the price action from Saturday's high. The price previously broke out from the descending structure in which it was correcting since 3rd of April. A breakout occurred as the price moved in a five-wave manner followed by another five-wave increase. This was expected to develop as an impulsive move to the upside of a higher degree but as the price, today fell below the territory of the presumed 2nd wave the outlined scenario has been invalidated.

This is why I have labeled the prior increase as an ABC correction to the upside as I have counted three waves, and now that the correctional structure inside the descending triangle got prolonged by another five-wave move after which another started I think that in the upcoming period we are to see further downside movement for the price of Litecoin as the third correctional structure inside the triangle should develop.

The third correctional structure started developing on Tuesday when the five-wave decrease started developing and has ended as an interaction with the upper descending support. As its completion is awaited another move to the lower descending support from the triangle would be expected which would in price terms be around $72.665 were the minor horizontal support level is.

EOS/USD

The price of EOS has formed a similar structure to the one of Litecoin, as it too reached its high on Saturday from where a descending triangle has started forming. The price came up to $5.4 at its highest point on Saturday and since then it decreased by 9.33% on Monday's low at $4.9 but made a correctional increase after to $5.3 level but is currently being traded at $4.95 close to the Monday's low.

On the hourly chart, we can see that the price of EOS has interacted with its descending support line today where it found support at least for now as indicated by the wick from the downside on the last hourly candle.

As we are seeing a correction developing after an upside move which could be impulsive as I've counted five waves. This means that we could be seeing the 2nd wave out of the higher degree impulse wave to the upside which is developing in a three-wave manner. As the last correctional structure is to develop fully, the further downside would be expected from here to $4.8 level which could end as a spike to the downside like we saw on Monday.

After the move to the downside trend continuation would be expected as if we are seeing the development of the 2nd wave the 3rd with the strongest momentum would be expected, but if the upside move from 26th of April until Saturday 4th of May wasn't impulsive we could be seeing the start of a higher degree move to the downside.

Conclusion

The market has reached its key turning point with the price of Bitcoin showing sign of struggle around the current levels. Another increase could occur before the expected downtrend but it looks more like the expected downtrend has started.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): May 8, 2019

BTC/USD

From yesterday's high at $6288 the price of Bitcoin has decreased by 4.46% today as it fell to $6007 on Bitfinex exchange. Since then a small recovery has been made to around $6158 below which the price is currently being traded.

On the hourly chart, we can see that the price immediately after the interaction with the significant horizontal resistance level at $6265.6 yesterday started falling down with fast momentum which confirmed the significance behind the level and the presence of strong resistance at those levels.

The price fell to below the previously broken minor horizontal resistance made by the two prior highs of the corrective movement but landed on the ascending trend line which again offered support.

As a higher high has been made yesterday and on today's open another higher low, the price action has started forming an ascending range like the one from which it previously broke out off. This pattern is known as an ending diagonal and occurs only in the wave 5 out of the five-wave impulse.

Considering that the sub-wave counted are showing a remarkable resemblance I believe we are seeing the end of the five-wave impulse of the Minute count which is also the last wave from the Minor count. Before the end, we are likely to see another increase as the last ABC correction to the upside should develop and would be the third interaction with the ascending channels resistance level.

The expected increase would be the final ABC correction to the upside which is set to enter the seller's territory above $6250 level before an immediate decline to $5806 which would mean that the bears have taken control. This would be the end of the correction from 15th of December when the price fell to $3226 and the beginning of another move to the downside which is set to push the price below the mentioned level.

Read Also: ‌Breaking: Binance Loses 7 Thousand Bitcoins (Yes, 7,000 BTC) in Exchange Hack, Worth $41 Million

ETH/USD

From yesterday’s high at $191.65 the price of Ethereum has fallen by 11.63% today measured to the lowest spike the price has been which is at $169.35. The price immediately came up above the significant horizontal level at $174 where the hourly candle closed and has stayed above it since but hasn’t made any substantial recovery as it only came up to $178 at its highest.

On the hourly chart, you can see that like projected in yesterday’s analysis, the price came down to the significant horizontal level where it found support. This is presumed to be the 4th wave from the five-wave impulse to the upside so from here an increase would be expected.

This also might have been the beginning of the higher degree move to the downside as the five-wave move to the upside ended so now as we are likely going to see an increase if it doesn’t exceed the half range of the prior decrease before first signs of struggle the projected scenario would still be in play.

If the price, however, stars moving below the current support level and comes below $165.44 the count would get invalidated as the price entered the presumed 2nd wave’s territory.

I believe that we are going to see an increase from here before further downside movements as the horizontal level at $174 is significant enough to stop the selling momentum at least temporary. From the expected increase we are going to see if the momentum for the 5th wave is there but even if it does catch on I wouldn’t expect the price to go above the $200 before we see another downturn in price trend.

XRP/USD

From yesterday’s high at $0.3227 the price of Ripple has declined by 4.08% today as it came down to around $0.31 where it is currently being traded.

Looking at the hourly chart, you can see that the price is once again on the minor horizontal support level offered by the 1st wave’s high. As previously a breakout from the descending channel occurred with a strong momentum a five-wave move developed and it might have ended as a truncation as the second interaction with the 0.236 Fibonacci level, especially considering that I’ve counted five waves in the mentioned increase made on 4th of May.

My primary count is still the one in which we are seeing the development of the 4th wave which will get invalidated if the price starts to move below the current level as the territory of the 2nd wave is below.

This is why an immediate increase would be expected from here with another higher high ahead before we see a higher degree pullback, potentially back to the significant horizontal support at $0.29405.

BCH/USD

From yesterday’s high at $295.3 the price of Bitcoin Cash has decreased by 8.94% today measured to its lowest point at $268.9, but this was only a short spike as the price quickly came up to $284 level below which it is currently being traded.

On the Bitcoin Cash hourly chart, you can see that the price is still inside the symmetrical triangle as the correctional structure got prolonged. As this is a symmetrical triangle a breakout from both sides would be equally likely to occur which is also verified by the wave analysis.

As you can see we could either be seeing an ABCDE correction in which case a breakout to the upside would be expected or the correction is more complex in which case the B, C and D waves would be the X three-wave correction before the third one, in which case we are going to see a breakout to the downside.

Previous to the formation of the triangle a three-wave increase has been made with the first and the third wave exhibiting impulsiveness as they have developed in a five-wave manner. This could mean that the increase seen ended as a three-wave correction in which case the now seen structure would be the start of the higher degree move to the downside which we are going to see after the breakout direction is clear.

Conclusion

The market is showing the first signs of struggle as significant resistance points have been approached but another increase would be expected as the bulls haven’t been exhausted yet. The charts are showing the same scenario is likely which verifies the likelihood but after the minor increase ends I would be expecting the start of the bearish period.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): May 7, 2019

BTC/USD

From yesterday's low at $5939, the price of Bitcoin has come up by 5.8% today measured to the highest point the price has been which is at $6276 and even spiked a bit higher to $6330.

Click to see image in full-size

On the 15-min chart, we can see that the price of Bitcoin came up to its significant horizontal resistance level at $6256 where interaction has been made. As stated, the price spiked up above it but immediately went back below it and has started to form a cluster as the interaction is verifying the resistance level. This horizontal level is the significant support which was broken in November last year and is now likely getting retested on the correctional movement to the upside. It is worth noting that this chart is the one from Bitfinex and is fairly higher compared to the other exchanges like for example Coinbase on which the price is currently being traded at $5871.

This means that the interaction with the significant horizontal level was only made on the Bitfinex chart which is why we still can't say that the projection got invalidated as this level serves as an invalidation level for the projected scenario in which we are seeing an Intermediate WXY correction to the upside out of which the current upside movement is the 5th wave from the Y wave.

As we've seen a breakout to the upside from the symmetrical triangle formed over the weekend further upside would be expected but the significant resistance has been encountered which is why we could see a rejection taking place.

ETH/USD

From yesterday’s low at $167.5 the price of Ethereum has increased by 14.3% as it came up to $191.2 at its highest point today.

Since then the price came down to $178.61 but only as a spike and came up to above the $180 level above which it’s currently being traded.

Click to see image in full-size

On the hourly chart, you can see that the price came up to the significant horizontal resistance level at $187.47 where interaction has been made with an attempt to move above but ended as a failure which is why an immediate pullback occurred.

Looking at the wave structure you can see that the five-wave move to the upside ended which is why this pullback was expected and especially considering the vicinity of the horizontal resistance level.

If this is the start of the higher degree impulse wave as the price broke out from the descending structure on the move up, today’s pullback could be the 4th wave from the higher degree five-wave move.

Another possibility could be that this five-wave increase was still the part of the correctional structure made from 3rd of May and would be the C wave from the ABC correction to the upside. If this is true then the price could go back below the broken resistance at $174 and back to the $148 level.

XRP/USD

Click to see image in full-size

From yesterday's low at $0.3104 the price of Ripple has increased by around 4% as it came up to $0.32286 at its highest point today. The price has retraced since and is currently being traded at $0.3176 and is in a downward trajectory.

Looking at the 15-min chart you can see that an attempt for a breakout from the descending channel has been made but ended as a failure with the price retracing back inside the territory of the descending structure. Yesterday's low was the interaction with the significant ascending trendline which is the baseline support from 207 and since it again served as support a bounce to the upside has been made which could be the first wave out of the next impulse wave to the upside.

If this is true than after the currently seen retracement would we could see another upside movement that is set to lead the price for a breakout to the upside but we could very well see another interaction with the baseline support in which case the price of Ripple would go back to $0.311 area before going to the 0.382 Fibonacci level at around $0.349.

BCH/USD

From yesterday’s low at $274 the price of Bitcoin Cash has increased by 7.68% as it came up to the $295.5 level at its highest point today, but as the high was made an immediate retracement occurred with the price going to $280 with strong momentum.

Click to see image in full-size

On the hourly chart, you can see that the price broke out from the symmetrical triangle on yesterday’s increase but has failed to continue moving past the prior high whose ending point vicinity served as a resistance point and caused the price to move in a downward trajectory again.

As the correction inside the triangle might not have ended the breakout seen could be the continuation of the mentioned correction which is why we could be seeing the start of the next impulse wave to the upside very soon, but in another scenario which could be the first correctional structure before further correctional movement which is set to retest the broken resistance from the descending channel in which the price has been since 3rd of April.

Conclusion

The cryptocurrency market has continued increasing since yesterday but encountered significant resistance today, as seen on the charts of the major cryptos covered in this report.

The price of Bitcoin has come to the key horizontal resistance level as well as Ethereum while others Ripple and Bitcoin Cash are still stuck inside their corrective ranges. The mentioned breakouts made in the case of Bitcoin and Ethereum have been made on the Bitifinex chart while on other major exchanges the prices are a bit lower but still they are all showing that the prices have encountered some of the significant resistance points which is why now a deeper pullback could be expected to be seen in the market before the final push to the upside.

Market Update:

Coin360
Source: Coin360.com

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): May 6, 2019

BTC/USD

On Friday the price of Bitcoin was increasing parabolically and came up from $5721.6 at the open to $6145 which was an increase of 7.4%. Since the price came up to those levels a corrective movement has been seen entering the weekend.

Click the image above to see it in full-size

As you can see from the 15-min chart, the price has continued its corrective movement over the weekend and formed a symmetrical triangle in which it was bouncing. Today the price again cam to its support level where it found support and verified the level once again as another bounce has been made.

The price is currently in an upward trajectory and considering that I have counted the sub-waves we have seen a three-wave correction taking place we could see a breakout to the upside. More likely we are to see two more waves developing which would bring this correction to be an ABCDE correction which has developed after the five-wave increase of the Minuette count ended.

This could be interpreted as the 2nd wave out of the higher degree 5th wave but it could also be the first correctional structure among the the higher degree correctional movement which is to for the top before a downtrend could start as the 5th wave ended.

In either way, I would be expecting a breakout to the upside from here to the significant horizontal support level at around $6250 level which is the most significant support level, broken in November last year when the price of Bitcoin fell from around $6500 to $3230 in one go, and is likely getting retested before the expected downturn in the market is seen.

From its interaction with it we are to evaluate the potential price action movement in the upcoming period.

ETH/USD

Over the weekend the price of Ethereum has also been correcting and has decreased from Friday’s high at $181.36 to $167.7 at its lowest point today which was a decrease of 7.55% but managed to recover today and increased to $176.62 where it’s currently being traded.

Click the image above to see it in full-size

On the 15-min chart, you can see that unlike in the case of Bitcoin, the price of Ethreum has corrected in a descending manner after the five-wave structure has ended on Friday. Today the price fell to the descending structure’s support level where it found support and spiked up to the presumed resistance level.

As the wave structure implies this could be the 2nd wave out of the expected Minor 5th wave of a higher degree so after the correction ends I would be expecting an increase and a breakout to the upside from the descending channel.

Before a breakout could be seen further correction movement would be expected as another third Subminuette ABC correction should develop and is expected to end around the 1 Fibonacci level or slightly below it.

XRP/USD

The price of Ripple has increased over the weekend at its highest point on Saturday when it reached $0.3327 from $0.3138 on Friday’s low.

Click the image above to see it in full-size

On the 15-min chart, you can see that the price made was above the 0.236 Fibonacci level as another attempt has been made for an uptrend continuation. The attempt has failed which set the price in a downward trajectory and has come to the significant ascending trendline which again verified its significance by offering support.

Now the price is interacting with the current range resistance level but I don't believe that we are to see a breakout to the upside before further correctional movement with the further establishment of support.

The price is most likely in its 4th wave correction which is why another increase would be expected potentially to the next Fibonacci level at $0.348 and would be the first wave out of the expected 5th wave from the Minor count.

BCH/USD

Like in the case of other cover cryptos the price of Bitcoin Cash has ended its five-wave increase which is why we are seeing consolidation structure taking place over the weekend with its levels firmly verified as numerous bounces have been made.

Click the image above to see it in full-size

The price came up to its highest on Saturday when it came up to $308.2 but started immediately decreasing and made higher lows and lower highs which is why a symmetrical triangle has been formed.

Like in the case of other cryptos the price has interacted with its current range support and is now interacting with its resistance but another wave to the downside would be expected before further upside movements could be seen resulting in a breakout to the upside from the currently seen triangle.

Conclusion

The cryptocurrency market has moved sideways over the weekend with overall descending movements as see form the charts of the analyzed cryptos. Now as the apex of the structures is approached by the price further upside movement would be expected but not before further correction movements which would set to complete the patterns made from Friday.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,LTC): May 3, 2019

BTC/USD Market Analysis

From yesterday’s low at $5609 the price of Bitcoin has increased by 9.42% today as it came up to $6138 at its highest point today.

Click above to see the full-size image.

On the Bitfinex hourly chart, you can see that the price broke out from the significant resistance area around the ascending trendlines which are both from the ascending channel seen from 3rd of April and the one seen on the higher time-frame from 15th of December.

I was expecting further decline after yesterday’s increase interacted with the mentioned significant resistance levels before the final move to the upside, but it looks like the Friday’s low was the completion of the 4th wave of a higher degree count. The movement to the upside that followed was presumed to be correctional but instead, another impulsive move to the upside developed which is the 3 motive wave out of the five-wave impulse.

The price has currently encountered strong resistance as the last hourly red candle of 1.76% would suggest but the increase might not have ended as the significant horizontal resistance at $6256 level is close and the interaction with it would be a retest of the broken significant horizontal resistance on 14th of November when the price of Bitcoin plummeted down from $6481 to $3228 in one go.

As this would be the end of the 5th wave of the Minor count which is the Y wave from the presumed WXY correction that started on 15th of December after it ends I would be expecting a trend continuation to the downside with new lows ahead beyond the one at $3228.

Zooming out on the 4-hour chart we can see the significance behind the $6256 level with whom the interaction is awaited. It is considered the be the start of the territory of the 2nd wave of the higher degree five-wave move to the downside which the price cannot enter on the 4th wave whose development we are seeing according to my count.

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This is why the WXY correction would end as a three-wave correction to the upside with the price starting to decline afterward below the prior low, but if the price continues moving above the mentioned level my count could get invalidated which is why the level also serves as an invalidation point.

The fact worth noting is that this breakout from the ascending channel bot the minor one and the major one only occurred on the Bitfinex exchange price chart, while on Coinbase, Bittrex, Bitstamp, and many other major exchanges the price chart look like the one below.

Click above to see the full-size image.

The price difference reached 7.59% at its highest point when the usually seen price was around $5700 but the price on Bitfinex was $6145.

This also implies the price of other cryptos.

ETH/USD Market Analysis

The price of Ethereum is currently being traded at $177.41 but went even further up to $181.26 at its highest peak today.

Click above to see the full-size image.

On the Bitfinex hourly chart, you can see that the price has broken the significant descending resistance level from the descending channel in which it was correcting since 8th of April and went above the significant horizontal level at $174.4.

If we are seeing the development of the five-wave move to the upside I would be expecting an interaction with the upper horizontal resistance level $187.47 before its completion.

Click above to see the full-size image.

On Coinbase chart we can see that the descending structure’s resistance level was well respected and that the breakout hasn’t occurred as the price came up to $169 at its highest point. This also stands true for the price charts from other major cryptocurrency exchanges like Bittrex, Kraken, Bitstamp which have also respected the resistance level.

XRP/USD Market Analysis

Today the price of Ripple spiked by 3.57% coming from $0.31508 to $0.32632 in one hour.

Click above to see the full-size image.

On the Bitfinex hourly chart, you can see that the price came up above the significant ascending trendline which is the baseline support but has been stopped out bt the resistance found at the 0.236 Fibonacci level. As the price broke out from the descending channel in which it was correcting to the downside from 3rd of April we are likely seeing the development of the five-wave impulse to the upside which means that another increase is now to develop after 4 waves have.

In that case, the price of Ripple would be expected to go to the next Fibonacci level at $0.349 before some minor pullback potentially back to the levels on which it is currently but now retesting it from the upper side for support.

The price of Ripple is pretty much the same on other exchanges with no major differences in the price action structure as well.

Click above to see the full-size image.

LTC/USD Market Analysis

From yesterday’s low at $76 the price of Litecoin has increased by 10.22% as it came up to $83.84 at its highest point today around which it is currently being traded.

Click above to see the full-size image.

The price of Litecoin broken out from its descending structure and continued increasing impulsively to the upside which confirmed the breakout. If this is the first wave out of the higher degree impulse we are going to see a pullback soon for a retest of the broken resistance for support before further upside could be expected.

Like in the case of Bitcoin and Ethereum, the Litecoin’s price chart on Bitfinex differs from the majority of the cryptocurrency exchanges on which the price of Litecoin hasn’t exceeded the $80 level.

Click above to see the full-size image.

Conclusion

The cryptocurrency market has experienced an increased lead by Bitfinex exchange with the price of major cryptos increasing higher than on other exchanges which could indicate some kind of suspicion activity lead by the emerging news of the Tether funds seizure.

If this increase is artificial and caused by Bitfinex which I think most likely is, it could lead to unsustainable momentum and considering that we are seeing the development of the 5th wave of the upward impulse which is considered to be the final one and the end of the correction from 15th of December, the trend continuation to the downside looks very close.

When the momentum starts losing traction it could cause a massive overleverage so that when it stops I massive downfall would occur which is the expected trend continuation after the correctional structure.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,EOS,LTC): May 2, 2019

Bitcoin BTC/USD Price Analysis

From Monday’s low at $5385 the price of Bitcoin has increased by 6% measured to today’s high at $5710 which is the highest point the price has been since the start of the week.

Looking at the hourly chart, we can see that the price again came up to the significant resistance point as an interaction with the ascending interrupted trendline has been made. This interrupted trendline is the resistance line of the still unconfirmed ascending channel seen on a higher time-frame and is considered to be the outline of the corrective structure which started on 15th of December.

Now that the price came up to those levels and I have counted 5 waves out of the last increase seen from Monday we are now most likely going to see a pullback or the start of the higher degree move to the downside.

The price is still inside the territory of the ascending channel made from 3rd of April which is considered to be the correctional structure after the 3rd wave of the Minor count ended, so after its completion, I would be expecting another and the final wave to the upside.

Before that can happen the correction should develop fully and as I’ve counted the sub-wave I think that before the price could continue above the currently interacted resistance levels a pullback to its support level should occur or even a breakout to the downside.

Considering the vicinity of the significant horizontal resistance level at around $5806.7 we might see further increase for interaction with the level before the start of the sharp downfall and will correlate with the interaction of the ascending channels resistance from 3rd of April.

Ethereum ETH/USD Price Analysis

The price of Ethereum has increased by 9.48% from Monday’s low at $157.63 to $172.57 at its weekly high made yesterday.

The price has reached the descending trendline on yesterday’s high which is the upper outline of the descending channel in which the price action is moving from 8th of April. As the resistance was found at those levels a minor pullback occurred but the price hasn’t fallen below the minor horizontal support at the prior high level before it started increasing again.

As I’ve counted five waves from the increase that started on Monday it looks like it has ended or we are seeing the development of the 5th wave. In either way, since the interaction has been made with the significant resistance level now the price is expected to go to some of the significant support levels for a retest before a breakout to the upside could occur.

If the movement seen from last Friday is still the part of the same correction from 8th of April we could see another downfall to the significant horizontal support level which was interacted with on Friday’s low, but if the correction ended on the Y wave the increase seen from Monday could be the first wave out of the expected 5th wave impulse of the Minor count.

Litecoin LTC/USD Price Analysis

From Monday's low at $69.42 the price of Litecoin has increased by 12.86% measured to yesterday's high at $78.37 which is the weekly high so far. Since yesterday the price has fallen to $75.8 as a minor retracement has been seen but the price started increasing again and is currently being traded at $77.8.

On the hourly chart, you can see that the price of Litecoin ended its WXY correction to the downside which started on 3rd of April as the resistance trendline from the corrective structure has been broken with strong momentum and I have counted the sub-wave of the structure. The price is currently retesting the horizontal resistance at the prior support around the vicinity of the W wave's ending point which proved to serve as resistance on the yesterday's interaction as after the interaction has been made a minor pullback occurred.

Looking at the increase from Monday I think that we are currently seeing the development of its 5th wave which could end as a truncation considering the resistance found at around $78 but the increase could continue for a bit further as there is still more room to go. In either way, since the increase is soon to end a higher degree pullback would be expected which if the price behavior is impulsive is going to be the 2nd wave of a higher degree and is likely to end as a retest of the broken descending resistance level.

The target price for the expected decrease would be around the purple interrupted level around $72.4.

EOS/USD Price Analysis

The price of EOS has increased by little over 10% from Monday's low at $4.61 measured to yesterday's high at $5.07 which is the weekly high so far. Like in the case of Litecoin the price has pulled back from yesterday slightly but started increasing immediately after and is close to the levels of the yesterday's high at the moment as is currently being traded at $5.0199.

On the hourly chart, you can see that the price has ended its Y wave from the WXY correction that started on the of April and came down to the significant horizontal level at $4.58 for a retest of support. As the support level got retested and proved to serves as support once again an immediate correctional increase occurred before the one from Monday.

The price currently above the minor horizontal support level at $4.9 and still inside the territory of the ascending channel which is why this movement could still be the part of the same correctional structure but as the price moved impulsively from Monday I think that more likely we have seen the end of the correction.

If this is true, then the price of EOS is now headed for another higher degree increase above the prior high at $6 but further confirmation is awaited and will be seen either as another retest of the support level at $4.58 or would preferably end a bit higher if the increase seen from Monday is the first wave out of the higher degree impulse in which case the price cannot go below the Monday's low level.

Conclusion

The cryptocurrency market has experienced an increase from Monday which appears to be over as the charts of the major cryptos are showing signs of the significant resistance reached. This increase broke in some case the downtrend resistance and as the correctional counts are showing we might be seeing the start of the expected final impulsive wave to the upside, but the increase could very well be the part of the same correction that started on 3rd of April which is why we are still to await a clear confirmation in the form of a breakout.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,BCH): May 1, 2019

Bitcoin BTC/USD Analysis

From yesterday’s low at $5437 the price of Bitcoin has increased by 3.97% as it came up to $5652 at its highest point today. Currently, the price is being traded slightly lower but is holding above the $5615 level which is a good sign.

Click here to see the full-size image.

On the 15-min chart, we can see that the price of Bitcoin exceeded the horizontal resistance level at $5562 and came up to the vicinity of the prior high which is the presumed 5th wave out of the Minute count. The price also came close to the significant interrupted ascending trendlines which haven’t been confirmed still but have proven to offer strong resistance in the past.

As the price moved to the upside in a five-wave manner from yesterday’s open I am considering that the increase seen from Friday could also be a higher degree five-wave move which could, in that case, be the start of the next impulse wave to the upside.

The structure looks corrective which is why I am hesitant to call out the increase as the beginning of the next move to the upside of a higher degree an, in particular, considering that none of the significant levels have been broken.

The price did go over the horizontal resistance at $5562 but it’s still inside the territory of the ascending channel from 3rd of April which is considered to be a correctional structure after the 3rd wave of the Minute count ended.

The Minute five-wave increase ended according to my count which is why I was expecting a higher degree move to the downside which would have been the 4th wave out of the higher degree impulse wave.

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This 4th wave could have ended on the last Friday’s low in which case the increase that followed could be the start of the 5th impulse wave to the upside, but until we see a proper breakout nothing can’t be said conclusively.

Ethereum ETH/USD Analysis

From yesterday’s open at $158.2 the price of Ethereum has increased by 8.75% as it came up to $172.4 at its highest point today. Since then the price has decreased slightly and is currently sitting at around $168.5

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On the 15-min chart, you can see that the price of Ethereum moved impulsively to the upside and in a five-wave manner. As the increase ended now we are likely to see a pullback to around $162 level if this was the start of the next impulsive move.

The price came up to the 1 Fib level which level of the previous high which serves as significant resistance point and is the reason why we’ve seen an immediate pullback below it after the interaction occurred.

Zooming out on to the hourly chart you can see that the interaction with the significant descending resistance level has been made which is the outline of the descending channel inside whose territory the price has been since 8th of April.

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As an interaction ended as a rejection a higher degree retracement would now be expected from whose depth and momentum we are to reevaluate the count. As you can see the price action is in a corrective stage which has been labeled as an WXY correction which might not have ended in which case we are seeing another lower degree ABC correction to the upside.

If this is true, then the price of Ethereum will go below the horizontal blue line at around $165.5 which is the ending point of the previous increase, but if the price finds support there and continues increasing again and starts going above the descending resistance line we have likely seen the end of the WXY correction as this move would develop as a five-wave impulse.

Bitcoin Cash BCH/USD Analysis

From yesterday's open at $229.8 the price of Bitcoin Cash has increased by around 20% measured to the higher point the price has been today which is at $276.8. Since then the price has pulled back slightly and is currently sitting at around $265.

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Looking at the 15-min chart you can see that the price of Bitcoin Cash increased in a five-wave manner from yesterday's open which indicates impulsiveness and considering the fact that the increase made was around 20% it could definitely be the start of a higher degree impulse wave. If this is true then the price is now headed for a higher degree 2nd wave which is corrective in nature and could bring the price back by around 8% from the current levels as a retracement to the 0.618 Fib level or the next one at 0.786 would be expected.

If this occurs the price of Bitcoin Cash is set to complete a retracement around $240 area before we see an uptrend continuation, but if the price continues moving lower then the levels of the yesterday's open the projection would get invalidated.

Zooming out on to the hourly chart, we can see that the price of Bitcoin Cash is still inside the territory of the descending channel in which it was since 15th of April and has come up for interaction with its resistance level where resistance was found.

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The structure looks corrective as I've counted the sub-waves which have shown the end of the WXY correction count. As after the presumed Y wave ended we've seen a five-wave impulsive increase it looks like the correction might have ended but since the price is still inside the territory of the corrective structure we could be seeing the prolongation of the corrective structure in which case the today's increase would be the second wave X.

This will soon get validated as the price has ended its five-wave increase so a retracement would be expected before the price could breakout from the structure on the 3rd and the wave with usually the highest momentum.

Conclusion

The market has experienced an increase in the last 24 hours with the prices of the major cryptos showing signs of impulsiveness. This could mean that the next impulsive move to the upside has started but as the prices of the major cryptos covered in today’s analysis are showing signs of weakness as they’ve met with their significant resistance points this increase might be a further prolongation of the correctional movement from the beginning of April.

No clear confirmation was made which is why it is still awaited and will be seen a breakout from the currently seen correctional structures with whose resistance levels the prices have interacted with today.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP): April 30, 2019

Bitcoin BTC/USD Market Analysis

From last Monday when the price of Bitcoin was $5266.5 at the open we have seen an increase of 7.27% until Wednesday when the price came up to $5649. Since Wednesday the price of Bitcoin experienced a downfall below Monday's open as the price came down to by 8.23% at its lowest point on Friday when it was sitting at $5185 at the open and even spiked lower to $5056. Over the weekend we have seen another increase as the price started recovering but the increase ended on Sunday when the price reached the horizontal resistance at around $5562 from where another minor downtrend has started.

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On the hourly chart, you can see that the price action formed an expanding triangle from Sunday until today as the attempt for a breakout to the upside is currently being made. The price looks like it found some strong resistance as indicated by the wick from the upside seen on the last hourly candle so we are yet to see if the attempt ends as a fakeout.

As Wednesday's high was most likely the 5th wave out of the five-wave impulse to the upside we could be seeing the correction of a higher degree starting to develop in which case the two outlines structures would be its two sub-wave and is why they have been labeled as two ABC corrections. The weekend's increase has developed in a three-wave manned and as the price fell below the $5416 level and entered the territory of the B wave it confirmed that we aren't seeing a five-wave move to the upside developing but that the increase indeed ended as a three-wave correction.

The price is still inside the territory of the ascending channel with whose support level the price interacted on Friday's low, so we could still be seeing the development of the same correctional structure that started on 3rd of April. This would mean that the 5th wave hasn't ended but since I've counted five sub-waves I think that it has which is why now I would be expecting a breakout to the downside which would be the 4th wave of the higher degree with another and the final increase expected after.

Ethereum ETH/USD Market Analysis

From Friday’s low at $154.53, the price of Ethereum has increased by 7.56% measured to the level the price is currently being traded which is at $166.5. The increase made was a recovering one as the price previously fell by around 13% from $177.48 at its highest point on Wednesday last week.

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Looking at the hourly chart you can see that the price of Ethereum came down to the minor horizontal level on Friday which was the previous range resistance level where interaction has been made.

The price found support there as immediately after the price experienced gains but has now come to the significant ascending trendline which is serving as resistance. Ethereum’s price has been in a descending channel from 8th of April so now that it has interacted with its support level on Friday an interaction with the resistance would look likely.

As we are seeing the price struggling to keep up the upward momentum it might not reach the channel's resistance before another downturn starts. The Friday’s spike to the downside could have been a retest of the 1st wave’s ending point in which case the seen increase could be the start of a breakout to the upside as the correction ended but it looks like the price is still in the corrective stage, considering the wave structure.

If we see an immediate downfall from here as significant resistance has been reached another retest of the horizontal level at $148.2 would be expected before the 5th wave starts but if the price continues moving above the current resistance and breaks from the descending channel we could be likely seeing the development of the next impulse wave.

Ripple XRP/USD Market Analysis

From last week when the price of Ripple was sitting around $0.33 at its highest, we have seen a decrease of 12.37% until Friday's low at $0.28952. Over the weekend the price has started recovering and came up to $0.31209 but from there again fell to the $0.3 level yesterday.

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From yesterday's low at around $0.3 the price of Ripple has started increasing again and came up by 6.12% today, reaching $0.32 and spiking even further up. On the hourly chart you can see that the price attempted to breakout from the territory of the descending channel in which it was since 3rd of April but clearly found strong resistance around the 0.236 Fibonacci level which intersects some of the significant support levels that were broken with strong momentum and are now serving as strong resistance points.

The correction from 3rd of April might have ended as I've counted the sub-waves and believe that the Y wave ended but since the increase from Friday looks three-wave-ish we could be seeing the prolongation of the mentioned correction in which case the weekend's recovery would be the second wave X. This means that another move to the downside for a lower low could occur, but that will soon be validated by the price action movement as if the price continues moving to the upside and finds support around the current levels we have likely seen the end of the correction.

If the price, however, starts immediately dropping and enters the territory of the descending channel we are likely to see another lower low before the correction is over, and the most likely target would be below the 0 Fibonacci level which is the starting point of the correction of a higher degree that started on 15th of December.

Conclusion

The market is still showing corrective price action movements even though a slight increase has been seen on the charts of the top 3 major cryptos. This increase could again be the start of the expected move to the upside but as some of the key resistance points have been reached an immediate downtrend is expected.

Source: Coin360.com – Click above to see the full-size image.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP): April 29, 2019

Bitcoin BTC/USD

From Friday's open at $5187 which was also the lowest the price has been from 16th of April, we have seen an increase of 6.75% on Sunday when the price came up to $5537.6. Since then the price has been in a minor downtrend and has led the price to spike slightly below the $5400 level around which the price is currently being traded.

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On the hourly chart, we can see that the price of Bitcoin fell to the significant ascending support level on Friday's low where it found support, as the price came spiking to the upside after the interaction has been made. The price increased in a three-wave manner to the upside until it came up to the horizontal resistance level at around $5562 where it found resistance and started moving to the downside.

The price action is forming another minor descending expanding triangle which could be the fractal of the previous higher one made by the corrective structure labeled as the first ABC after the impulsive 5th wave ended. As after Friday's low which was the ending point of the first ABC we have seen a three-wave move it could be the second ABC correction to the upside from out of the higher degree three-wave correction. This means that now seen expanding triangle could be the starting structure of the third ABC correction and considering the fractality it looks likely.

If this is true, then we are going to see another interaction with the resistance level of the expanding triangle around the $5460-5470 level which is also a minor horizontal significant level before another move to the downside which would be likely to end on the significant ascending trendline – the support level from the ascending channel of a higher degree. As the price is still inside its territory we might be seeing the start of a breakout to the downside which we are going to see from the expected interaction with the ascending trendline.

Ethereum ETH/USD

From Friday’s low at $154.9 the price of Ethereum has increased by 7.19% over the weekend as it came up to $165.59 at its highest point on Sunday. Since then, the price has started moving to the downside and spiked down to the $157 level at its lowest point today but has recovered slightly and is currently being traded at $159.

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Looking at the hourly chart you can see that the price of Ethereum has fallen below its significant ascending trendline which was the major support level on the way up but landed on the lower one where it did found support.

These ascending trendlines are in conjunction with the upper interrupted one constituting an ascending triangle seen on the higher time-frame in which the price action is developing from 15th of December and is considered to be a corrective structure before further downtrend continuation.

The price fell to the support level at around $147 on Friday which is the presumed first wave’s ending point and the beginning of the 1st wave out of the five-wave move to the downside. As the price quickly increased impulsively after an interaction we might be seeing the start of the next move to the upside which is set to go for interaction with the ascending triangle’s resistance level above which would bring the price of Ethereum to around $200.

Another low might occur before we see the start of the expected upside movement but only again to the $147 horizontal support as if the price continues moving lower the count would get invalidated.

Ripple XRP/USD

The price of Ripple has increased by 7.54% over the weekend as it came up from $0.28953 on Friday’s open to $0.31137 at its highest point on Sunday but after the price came up to those levels it started decreasing again with strong momentum to the downside and came down by 3.77% to $0.29983 at its lowest point today.

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The price is currently being traded above the $0.3 level and could likely continue increasing as the descending trendline from the channel inside whose territory the price is bouncing from 3th of April. This would lead the price of Ripple back to $0.313 level where the minor horizontal support level is now serving as resistance.

On the hourly chart, you can see that the price is in a descending channel and has made a three-wave move which has been labeled as a WXY correction. Counting the sub-waves I think that the Y wave ended on Friday’s low, but I don’t believe that we have seen the end of the downside move.

Most likely the correction is going to end as a five-wave correction with the increase was seen over the weekend is the second wave X. This means that after an interaction with the descending channels resistance level another strong downfall would be expected below the significant horizontal support level at $0.29405 which got surpassed to the downside on Friday.

If this occurs the price is likely to go to the 0 Fibo levels at $0.2852 which is the next significant support level and the beginning point of the corrective increase from 15th of December but if the price starts moving below it the next target would be at around $0.266 which is 6.87% lower from the 0 Fibonacci level.

Conclusion

The cryptocurrency market has been in a sideways range over the weekend but an increase has been seen from Friday’s opening which was also the lowest point the market has been from 16th of April.

This sideways increase was most likely consolidative after the initial drop seen on Wednesday which is why another downfall would be expected as it is likely going to end as a temporary stop before the trend continues for another low.

As the prices have fallen today a minor increase could be seen but only as of the continuation of the corrective increase we have seen over the weekend before another impulsive move to the downside starts.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP): April 24, 2019

BTC/USD Price Watch

From yesterday's high at $5646 the price of Bitcoin came down by 3.68% to its lowest point today at $5438.3 and even spiked further down in short period leaving a wick on the hourly chart. The price is currently being traded at $5494.1.

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On the hourly chart, we can see that the price found some temporary support around the vicinity of the second wave out of the previous correction but is likely headed further down if we are seeing the development of the 5th Minute wave to the upside which I believe it's likely. The price of Bitcoin has most likely ended its correction as a five-wave WXYXZ which was the 4th wave of the higher degree impulse wave to the upside.

The price of Bitcoin yesterday came up to the significant resistance level of the ascending channel made by the corrective structure and the upper resistance level of the ascending channel from the still unconfirmed structure seen on a higher time frame. As the price got rejected by the resistance found the level might get confirmed but further price action development is needed before a strong confirmation can be made in particular meaning that the next movement to the upside which would be the 5th wave out of the Minuette count shouldn't exceed it as well.

Bullish momentum has been stopped out and the price is still inside the territory of the ascending range which could mean that we are still seeing the development of the same correctional structure labeled as the 4th impulse wave of the Minute count. But as the price made a higher high and another one is expected we are soon to reassure the validity of the assumption. If we are seeing the development of the 5th impulse wave then the price cannot fall below the purple interrupted line at $5360 which is presumed to be the ending point of the 1st wave end the beginning point of the 2nd wave's territory which the price according to the EW territory cannot enter on the 4th wave.

The 5th wave could develop higher than projected potentially reaching the significant horizontal resistance at $5806.

ETH/USD Price Watch

The price of Ethereum has fallen by over 7% today as it came down from yesterday’s high at $177.24 to $164.81 at its lowest point today. The price is currently sitting around $166 as it found support at the 0.618 Fibonacci level which was presumed to serves as a support for the ABC correction that has started developing from 18th of April.

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On the hourly chart, you can see that the price of Ethereum has been in a downtrend which is the presumed 2nd wave out of the higher degree five-wave impulse which is the 5th wave of the higher degree count. If the price continues moving below the starting point of the presumed 1st wave which is at $159 the count would get invalidated but for now, this is my main projection.

From here most likely we are going to see another move to the downside to the 0.786 Fibonacci level which is at $162 as the 2nd wave ends. After that, I would be expecting a trend continuation to the upside which would be the 3rd wave of the presumed impulsive move and is set to go to the horizontal resistance level at around $187.

If the price of Ethereum hasn’t ended its 4th wave from the Minor count and we are still seeing the continuation of the correctional structure from 3rd of April, the price could move further to the downside below the $157.63 level and could, in theory, go to the 1.618 Fibonacci extensions.

The price of Ethereum is now most likely to go to the presumed upper ascending resistance levels which are the resistance levels from the still unconfirmed ascending triangle but as the previous increase ended on its lower level it is starting to get confirmed and the next increase might just serve as to do so. That would lead the price of Ethereum to the vicinity of the $200-195 area but would be the end of the bullish upswing for the time being.

XRP/USD Price Watch

The price of Ripple has fallen by over 10% today, from yesterday’s high at $0.33045 to $0.29524 at its lowest point today.

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Looking at the hourly chart you can see that my count got invalidated as the price of Ripple fell below the starting point of the presumed first wave of the expected five-wave move to the upside. The price fell below its highly significant ascending trendline which dates from 16th of July 2017 and was a major uptrend baseline support recently as well.

The price fell with strong momentum that was clearly needed for a breakout from the significant support but managed to stay above the next significant horizontal support at $0.29405.

Zooming out on to the 4-hour chart you can see the significance behind the horizontal level as it served as support after the price of Ripple ended its first impulsive increase.

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The price made a WXY correction after but then instead of another impulsive increase we have seen an ascending channel which could have been the part of the same correction. If the ascending channel was the second wave X, the now seen breakout to the downside could be the start of the wave Z as the correction got extended by two more waves.

If this is true then the price of Ripple is now headed further to the downside with some correctional upswings in the process, out of which an interaction from the upside with the 0.236 Fibonacci level area would look most likely as it was the significant horizontal area that serves as a support and was now broken.

Conclusion

The prices of the top 3 major cryptocurrencies have been in a downtrend from yesterday with some of the cryptos experiencing a double digits decrease like in the case of Ripple. This slump could be temporary before another high or could be the start of the expected higher degree correction.

Coin360.com – Click to see the full size image

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC,XRP): April 23, 2019

BTC/USD

From yesterday's low at $5275, the price of Bitcoin has increased by 5.95% as its currently being traded at $5580. The price was moving sideways over the weekend and was in a minor downtrend yesterday, but since it came down to the mentioned low levels it started increasing impulsively.

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On the hourly chart, you can see that the price came up to it significant resistance levels out of which the first one is a horizontal and the other is an ascending one. Both are significant as they are the upper outline of the range in which the price action has been stuck in for quite some time now and considering that they are intersecting around the current levels there we can assume that strong resistance would be found and judging by the looks of the current hourly candle the price might have already encountered it.

The price of Bitcoin has most likely ended its 4th wave correction, which started on the 3rd of April. We are now most likely seeing the start of another impulse wave to the upside which would be the 5th wave of a Minute count. This might not be true as the price still hasn't broken out from the ascending range in which it was from 3rd of April, so having that in mind we can potentially see another pullback to the downside for a retest of support before a proper breakout to the upside occurs.

As the price hasn't fallen below the median line on the previous minor ascending channel which is the support level from a higher, previous one we might see this happen if the currently seen interaction with the significant resistance level ends as a rejection.

If the price of Bitcoin continues increasing further and goes above $5640 I would consider that a breakout to the upside started, but if the price immediately starts decreasing from here we might see another decrease before a breakout.

ETH/USD

From yesterday’s low at $169 the price of Ethereum has increased by 5.36% as its currently being traded at around $178.11. The price is in an upward trajectory and has shown clear signs of impulsiveness.

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On the hourly chart, we can see that the price went above the prior high level as it started increasing today from $171 area. Previously we have seen a movement to the downside which ended around the vicinity of the 0.5 Fibonacci level out of the last impulsive increase.

As a three-wave structure developed it was most likely the second wave out of the higher degree five-wave impulse wave that started after the correction of a Minute count ended. If this is true we are now seeing the development of the 3rd wave which is set to push the price of Ethereum to the horizontal resistance level around $187.7 or potentially even slightly higher to the 1.272 Fibonacci level.

This would be the final, wave 5 out of the Minor five-wave impulse of an even higher degree and is most likely to end around the vicinity of the upper interrupted ascending trendline which is the presumed resistance from the still unconfirmed ascending channel seen on the higher time-frame.

This means that when the increase ends I would be expecting the start of the higher degree downside move, but more on that in due time. For now, it is important that the price doesn’t fall below the 0.382 Fibonacci level as that would invalidate the count.

XRP/USD

From yesterday's low at $0.32119, the price of Ripple has increased by 2.73% measured to the level on which the cryptocurrency is currently being traded which is at $0.32988.

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On the hourly chart, you can see that the price of Ripple came up to the prior high level where it most likely found resistance again as the price has been stopped out. The price managed to come above the 0.236 Fibonacci level yesterday and maintained to stay above it as the support was there. This is a good sign but since the increase was stopped out again at the same level as on yesterday's high we might see the price back below the Fib level again. If that happens the price is most likely headed towards the retested support levels on which it previously found support which is in price terms around $0.32.

The price more likely headed to the upside now that some support has been established on the previous downfall when the price interacted with the significant support levels and started increasing impulsively since, establishing support on the upper horizontal level. If the previous downfall was the second wave out of the higher degree five-wave impulse to the upside, now we are seeing the development of the third impulse wave which is set to exceed the 0.382 Fibonacci level as it was the ending point of the 1st wave.

LTC/USD

From yesterday’s low at $75.94 the price of Litecoin has increased by 6% as it came up to $80.5 at its highest point today. The price has retraced slightly since and is currently sitting at $79.179.

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On the hourly chart, you can see that the price of Litecoin came down to the descending trending on Sunday and again on yesterday’s low as it was being tested for support once more. As the level served as support the price has started increasing again.

The price found resistance at the previous horizontal support as indicated by the last hourly candle. Now we are to see if this increase was only minor, correctional, before further downside movement or is it the beginning of a higher degree impulse wave to the upside.

As the price is in the median point of the currently seen structure both possibilities are equally probable, so if the correction inside the expanding range ended the move to the upside has started, and if the not further correctional movement would be expected.

Conclusion

The cryptocurrency market has experienced an increase in the last 24 hours but the increase hasn’t impacted the market significantly, even though in some case like in Bitcoins the price has exceeded the prior high, some of the most significant resistance points are still respected so we could be either seeing the start of the next impulsive move to the upside or we have seen another retest of the significant resistance point before further correctional movement.

This weeks Price Watch:

  • Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) (April 22nd)
Source: Coin360.com – Click to see the full-size image

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP): April 22, 2019

BTC/USD

From Friday’s open when the price of Bitcoin was $5320, we have seen sideways movement for the price action as the price fell down to $5240 on the same day after which an increase to $5365 was made, only to another downfall to $5261.

The price is currently sitting at $5342 and is in an upward trajectory as it found support around the $5270 on today’s low.

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Looking at the hourly chart we can see that the price went below the median line of the current ascending channel which was the support level from the previous ascending channel and is now hovering around the level in a lookout for support/resistance.

The has been in a minor downtrend from Saturday which could have been the beginning of the higher degree downtrend that is set to lead the price for a breakout to the downside or at least for the retest of support on the lower ascending trendline.

As the price is currently above the median line this might not happen but since it hasn’t made a higher high compared to the one at $5366 we could be seeing the minor correction before the downtrend continues.

This whole structure, seen on the hourly chart from 3rd of April, is presumed to be the 4th wave out of the higher degree impulse wave to the upside so after it ends I would be expecting another increase.

The correction might have ended as a three-wave WXY on 12th of April, but since then we have seen more correctional movements which make it hard to say if the correction ended.

If the correction ended on the 12th of April the ascending structure that developed would have been the first minor five-wave impulse which would be the 1st wave of a Minute count, but as another three-wave ABC to the upside developed with the price dropping afterward below the 1st wave’s ending point it looks like the correction hasn’t ended.

This is why I am considering this last seen ascending structure to be the part of the same correction from the 3rd of April. The price is likely headed down from here somewhere in the $4800 zone before we see the end of the correctional movement.

If the ascending structure is the beginning of the first impulse wave out of the higher degree 5th wave of a Minute count it could be from 15th of April when we have seen a five-wave increase, but in that case the price should now fall back as the second wave should develop which is why a more do the downside would be expected now in either way.

ETH/USD

The price of Ethereum has moved sideways from the opening price on Friday as it came down from $175.36 to $170.7 from where another increase has been made to $177.23 which is was the prior high vicinity level. As the resistance found there was once again present the price started decreasing again and has come down to $168.84 on the weekends low before it again came up today to $173.2 at its highest point.

As the price is currently being traded around $171.9 and is a downward trajectory we might see the start of a larger move to the downside.

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On the hourly chart, you can see that the price of Ethereum fell to the vicinity of the 0.5 Fibonacci level and has found some support there which caused the price to start moving to the upside. But as the prior support level was reached and is serving as resistance the price has started experiencing the seller's pressure and has started another move to the downside.

A decrease was expected to the vicinity of the 0.786 Fibonacci level if we have seen the start of the next impulsive move to the upside but as the price started increasing after a quick dip to the 0.5 Fibonacci level, the retracement might occur.

The increase sees today is a most likely correction and is the 4th wave from the lower degree of the C wave that is likely developing. This is why I would expect to see a lower low to at least 0.618 Fibonacci level before the decrease is over.

If this is true then the price of Ethereum is set to go to around $165 before the presumed 2nd wave of a higher degree 5th wave ends after which further increase would be expected. But if the price continues increasing and exceeds the prior high at around $174.4 where the horizontal resistance significant level is, I would consider that the minor correction ended.

XRP/USD

The price of Ripple has retraced further then expected but the projection is still untacked as the price hasn’t fallen below the starting point of the previous increase.

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As you can see from the hourly chart, the price fell to its significant support level where support has been found as the price increased by 3.15% after the interaction. If we are seeing the start of the 3rd wave to the upside out of the presumed five-wave increase.

Today’s increase could be correctional if we are seeing a higher degree impulse wave from 18th of April which would, in that case, mean that the previously made increase from 15th of April was also correctional, but as I’ve counted 5 sub-wave this is not as likely.

In either way, since the price is currently in an upward trajectory we are going to see where the increase ends, which would serve as an early indication of the future price action movement.

As today we have seen an increase, a minor retracement would be expected before the next increase starts developing.

Conclusion

The cryptocurrency market has moved sideways over the weekend without clear indications on where the prices are heading next. As the charts are implying the next move is most likely to be to the downside which will validate the projected scenarios.

If the prices fall back to their minor support levels and start increasing from there it would most likely mean that the next upside move has started, but if the prices fall below their minor support levels it could mean further prolongation of the seen sideways/correctional movements.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,BCH,XRP): April 19, 2019

BTC/USD

From yesterday's high at $5341.8 the price of Bitcoin has decreased by 2.03% measured to today's low at $5233.5 but has recovered since and is currently being traded at $5292.9.

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On the hourly chart, we can see that the price found support on the median line of the currently seeing ascending channel which is actually the support level from the higher degree one and serves as a significant support point.

The price action has still been bouncing inside the ascending channel which was formed on the 12th of April when the price of Bitcoin dropped by over 9% in one go after which a three wave ABC to the upside developed and then another sharp decrease. This movement could have been the third ABC correction of a lower degree which means that the correction could have ended on the 15th of April.

As the price increased in a five-wave manner afterward it could also indicate that the correction is over and that we are seeing the start of the next impulsive wave to the upside out of which the seen five-wave increase from 15th of April would be its first sub-wave. In order for that to be validated the price cannot go below the $5114 level as it is the territory of the 2nd wave from the last five-wave increase which looks like it ended on a slightly higher high as the 5th wave truncation ending diagonal.

Now that the 5th wave ended on the ascending channels resistance level as a rejection a downside movement occurred and from its depth, we are to see in which direction would the next structure lead the price for a breakout.

This whole ascending channel could be corrective in nature as prior to it a sharp decrease has been seen which would mean that another downside movement could occur before it ends. If that happens the price target for the decrease would be to some of the minor horizontal support levels inside the $4800 zone.

ETH/USD

From yesterday's high at $176.85 the price of Ethereum has decreased by 3.69% as it fell to $170.33 but has recovered since and is currently sitting at $173.63.

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On the hourly chart, you can see that the price of Ethereum came up slightly above the horizontal resistance level at $174.4 with whom the interaction has been awaited but has fallen steeply after the interaction has been made, again validating the resistance point.

The price found support on the lower horizontal level at around $170 which is the prior high level of a higher degree and now correlates with the 0.382 Fibonacci level from the last increase range. As the five-wave manner impulse wave ended we are now most likely seeing the start of a higher degree downside movement which could be corrective in nature if the price started another higher degree impulse to the upside.

If this is true then the price would pull back to around the depicted area between the 0.618 and the 0.786 Fibonacci levels which are in price terms around $165-162 but if the price goes lower than that and continues moving below the $160 level the count would get invalidated.

Like in the case of Bitcoin the primary assumption is that the previously seen downside movement was the third wave of the three-wave correction that took place from 3rd of April, but there is still a possibility that the seen ascending structure from 12th of April could be the part of the same correction. In that case, another stronger move to the downside would occur below the prior low.

XRP/USD

From yesterday’s high $0.34831 the price of Ripple has decreased by 5.35% measured to today’s low at $0.32967 but since then another move to the upside has started with the price currently being traded at $0.33269.

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The price of Ripple has ended its five-wave impulse on an interaction with the 0.382 Fibonacci level after which a sharp movement to the downside occurred which could be the ABC correction if we are seeing the development of the higher degree impulse.

We could see further downside movement if the correction hasn’t ended to the 0.236 Fibonacci level and potentially even below it if the count is invalid. The assumption is that the higher degree three-wave correction ended on the Monday’s low but we could be seeing the prolongation of the same correction in which case the upside movement would be its 4th wave.

If this is the case, then the price of Ripple is set for another lower low, below Monday’s low at $0.31639, although that is not as likely as the bullish projection.

As now the price is in an upward trajectory we are soon to see if it ends as a three wave correction or a five-wave decrease which will serve as an early indication of the future price action development.

BCH/USD

On yesterday’s high the price of Bitcoin Cash was sitting at $314.1 from where a shart decrease has been made of 6.36% as the price came down to $294 level at its lowest point today but is currently being traded slightly higher at around $299.1

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On the hourly chart, you can see that the price of Bitcoin Cash fell to the vicinity of the 1st wave’s ending point after which a slight increase has seen which validates that the level served as support.

Now as the decrease seen from Monday most likely ended and is the 4th wave of a higher degree impulse to the upside the 5th wave should start developing, and with the price currently in an upward trajectory we could be seeing the start of the next impulsive move to the upside.

If this is true then the price of Bitcoin Cash is set to create a higher high compared to the one labeled as the 3rd wave at around $330. The optimal price target for the expected increase would be the upper ascending trendline from the still unconfirmed ascending channel of a higher degree which is in price terms around $344.6.

If the price, however, continues moving below the $290 level and enters the lower range the count would be invalidated as it would enter the territory of the presumed 2nd wave.

Conclusion

The cryptocurrency market has been still moving sideways with the prices of the major cryptos interacting with their significant resistance/support levels. As we haven’t seen major moves there still isn’t any indication of the potential price movements that are set to occur over the weekend, but the overall picture looks bullish.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,EOS,LTC): April 18, 2019

BTC/USD

From Monday’s low at $5033.8 the price of Bitcoin has increased by 5.5% measured to the highest point of the week which was made today when the price came up to $5310.

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Looking at the hourly chart, we can see that the price of Bitcoin came up to the significant resistance level from the currently seen ascending structure which has started from April 12th. As the price got rejected by the resistance found there a rejection has been seen with the price currently being in a downward trajectory.

Prior to the ascending structure, a three-wave correction occurred so this could be a consolidative range in which the buyers are taking control again. It could very well be the continuation of the mentioned correction in which case this could be its 4th wave if the correction got prolonged. In that case, another 5th wave to the downside would develop.

As the price is now in a downward trajectory we are going to see if the breakout to the downside occurs but since there are two significant support levels below the price interaction with the first one which serves as a median line from the current range is expected and is about only 1% lower from the current levels.

If the price starts moving below it the next one would be the support level from the ascending structure that we are seeing currently and would bring the price of Bitcoin down to around $5115 and if the support hold and the price starts increasing again a breakout to the upside would look more likely.

As this correctional structure from 3rd of April is considered the 4th wave of a higher degree impulse another increase with a higher high is expected above the $5500 area but before the increase, we might see more downside movement if the correction hasn’t ended.

ETH/USD

From yesterday’s low at $166.44 the price of Ethereum has increased by 4.72% today as it came up to $174.29 at its highest point.

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On the hourly chart, you can see that the price of Ethereum has come up to the significant horizontal resistance level which served as support for the upper range and was broken with strong momentum which both indicates significance.

Now that the five-wave move to the upside ended as an interaction with the significant resistance a downside move is expected which could either be a minor retracement if the five-wave move was the beginning of a higher degree impulse.

The other possibility is that we are seeing the continuation of the correction from 3rd of April in which case this upside movement seen from Monday could be the part of the same correctional structure an would result in another lower low compared to the one at around $158 which is currently being labeled as a Y wave of a Minute count.

If the price finds support on a higher low then the one at $158 and stars increasing again we would, in that case, most likely be seeing the start of the 5th impulse wave of a higher degree to the upside. But if the price continues moving below the mentioned level we would be more likely seeing the continuation of the correctional structure from 3rd of April which is considered to be the 4th wave out of the higher degree five-wave impulse.

LTC/USD

From yesterday's open at $81.894 the price of Litecoin hasn't changed much as its currently being traded at around $81.

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On the hourly chart, you can see that the price of Litecoin has been moving sideways from the 12th of April when a decrease with strong momentum has been made. As the price previously ended its impulsive move to the upside, a correction started developing out of which we have seen three waves. This means that I could have ended with the current structure being a consolidative range before finally, the next move to the upside would start.

As you can see the current structure is an expanding one with higher highs and lower lows but since Monday when an interaction has been made with the support level, the price has been in an upward trajectory but still hasn't come above the prior high level before encountering significant resistance.

This is why we are soon to see if the structure would be a continuation of the correction which started on 3rd of April as now we are most likely going to see a move to the downside which could lead the price for a breakout to the downside. But if the price finds support above the prior low at $76.65 horizontal support level and starts increasing again a breakout to the upside would be expected.

EOS/USD

From yesterday's open at $5.5613 the price of EOS has fallen by 2.67% on yesterday's low but since then started increasing again and has managed to pull back up to the levels from which the decrease was made and is currently sitting around $5.515.

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On the hourly chart, you can see a similar chart pattern like the one on the Litecoin's chart in a sense that a three-wave correction took place before the current structure which is in the case of EOS an ascending one. As prior to the formation of the current ascending structure a strong move to the downside was made in which the price of EOS decreased by over 14% the ascending structure could be the part of the same correction and has served as a retest of the broken support at around $5.58 which got retested today again.

The retest ended as another third rejection which could be the final one before we see a breakout to the downside and a continuation of the mentioned three-wave correction, but it could also be some consolidative price action before the 5th wave impulse to the upside starts. This is why the significant pivot point would be at the mentioned horizontal resistance level at around $5.58 and if the price manages to come above it the bullish scenario would be in play.

If the price starts decreasing now after another encounter with the horizontal resistance and goes below the currently seen ascending support line a bearish scenario would be in play as we are in that case most likely seeing the continuation of the correctional structure that started on 3rd of April.

Market Conclusion

The prices of the major cryptocurrencies that we have covered in today’s analysis are showing the end of the minor upward movement which started on Monday which is why now we are going to see a move to the downside.

From the depth and the momentum of the expected downside move we are to evaluate the validity of the projected scenarios but as the prices are showing that the three-wave correction has ended after which ascending structures started developing, the bullish scenario in which we are seeing the start of the next impulse to the upside looks more likely.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): April 17, 2019

BTC/USD

From yesterday’s open at $5038.9 the price of Bitcoin has increased by 5.17% measured to today’s high at $5299.5.

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Looking at the 15-min chart you can see that the price came up to the significant resistance from the upper ascending line of the current structure and has got rejected there and went below the interrupted black line which is the significant resistance level of a higher degree and is retesting it from the downside again for resistance.

The structure from 12. of April is corrective and we are most likely seeing the continuation of its development as this increase could be the third ABC correction which would constitute the three wave B of a higher degree ABC correction.

As another increase could occur before the end of the current increase we might see a quick spike above the current resistance but the second attempt seen as a recent interaction could have been the 5th Subminuette wave which ended as the price got rejected.

This is why now I would be expecting another impulsive five-wave move to the downside that would set the price for a breakout to the downside below the lower ascending trendline which serves as a support for the current correctional structure from 12th of April.

The price target for the expected decrease would be at around $4800 area where some of the minor horizontal support levels are and have been the support baseline for the presumed 4th wave of a higher degree impulse to the upside.

ETH/USD

From yesterday’s low at around $160 the price of Ethereum has increased by 5.55% measured to the highest point it reached today which was at $168.87.

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As the market is strongly correlated I am presenting an alternative count on the Ethereums chart which could be applied in the case of Bitcoin’s as well. The price came up in a three-wave manner from yesterday but if currently seeing downside movement finds support above the vicinity of the 1st wave’s ending point we might see another increase above the 1 Fibonacci level at $170.43.

This would mean that the increase seen from yesterday is the start of the next impulse wave to the upside which would be the final 5th wave after the 4th wave correction ended and is a continuation of the higher degree upswing.

If that is true than the previously seen downfall was the C wave of the third ABC correction which would constitute the higher degree three-wave correction and is the 4th wave from a higher degree impulse wave to the upside.

This differs from the projection laid out on the Bitcoins chart in a sense that the downward move seen on 15th of April was the continuation of the mentioned third ABC and not a minor correction that is in conjunction with the today’s increase the part of the same structure that could be considered a continuation of the B wave.

The validation point would be the depth of the current downside movement and the $164 level which is the beginning of the 2nd wave’ territory in which if impulsive the price cannot enter. So if the price goes below it the bearish scenario with another lower low before the start of the next and the final higher high would be in play.

XRP/USD

The price of Ripple has increased further than the previously analyzed coins as an increase of 7.62% was seen from yesterday’s low at $0.31788 to $0.3422 at its highest point today.

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The 15-min chart looks bullish like in the case of Ethereum as we could have seen the end of the three-wave correction on Monday’s interaction with the significant support levels. As the support was clearly present an impulsive move to the upside has been seen out of which the 4th wave has been establishing support above the 0.236 Fibonacci level at $0.325.

Now that the 5th wave to the upside is developing and has come to the horizontal resistance level of the prior structure a retracement would be expected in particular if we are seeing the start of the next impulsive move to the upside.

From the depth of the retracement, we are to see the potential of the presumed projection as if the price makes a higher low and doesn’t fall back below the significant support area around $0.316 we could be seeing the start of a higher degree impulse.

But if the price continues moving below the mentioned support area another lower low would be expected which could be the continuation of the three-wave correction of a higher degree.

BCH/USD

From yesterday the price of Bitcoin Cash has been moving sideways as it started from $309 at the open, increased to $322.4, fell again back to $303 level which is the minor horizontal support after which another increase to around $321 area has been seen. But as the price encountered the same resistance another downtrend has started with the price currently sitting at $310.

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On the 15-min chart, you can see that the price of Bitcoin Cash broke out form the symmetrical triangle on the upside at first but came back to its support level again today for a retest of support.

This could indicate that the 5th wave to the upside has started but it could also mean that there isn’t enough momentum for a breakout to the upside for the 5th wave to start which is why the further establishment of support is needed.

The price is currently interacting with the support level but there aren’t any signs that it’s going to serve as support for much longer which is why I would be expecting another downfall for the price of Bitcoin Cash to around the vicinity of the ending point of the A wave from the ABC correction which has been formed as the 4th wave from the higher degree impulse to the upside.

As the 4th wave cannot enter the territory of the 2nd, if the price continues moving lower and goes below the $290, the count would be invalidated but I believe that it wouldn't as another increase before the start of the downside movement looks more likely.

Conclusion

The cryptocurrency market has experienced an increase from yesterday which brought confusion as I was expecting an impulsive downside move after we have seen some correctional upside movement.

This is why I still think that the increase seen is the part of the same upside correctional movement and that another lower low is to be expected before we see another run-up but the next and the final impulsive move to the upside could have started as some of the charts imply.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,BCH,XRP): April 16, 2019

BTC/USD Forecasting

From yesterday's high at $5222 the price of Bitcoin has decreased by 4.58% measured to today's low at around $4980 which was only a quick spike as the hourly candle closed at $5031. Since then the price has made a slight recovery and is currently in an upward trajectory sitting at $5106.6.

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Last week the price of Bitcoin experienced sideways movement from Monday until another spike to the upside was made to $5483.5 on Wednesday. But straight after the price started plummeting down with strong momentum and made a downfall of around 10% in one go as it came down to $4935.7 on Friday. This downfall has led the price below the support line of the ascending channel but the price managed to go back inside its territory.

As the price continued increasing it was hovering around the support level. But since it came up to the significant resistance and got rejected after the interaction the support level was broken yesterday.

If the price action movement from 5th of April till 10th was correctional, and I believe that it was as the wave structure looks more corrective than impulsive, we are most likely seeing the continuation of the higher degree three-wave correction. In this case, the downside movement which started yesterday would be the C wave of the third ABC correction.

This three-wave correction would be the 4th wave out of the higher degree five-wave impulse wave. So after it ends another final increase would be expected. But if the 5-10 April increase was the 5th wave and the previous three-wave downfall was the 4th, we could see the start of the impulse wave to the downside which started on the 10th of April.

From here the price is expected to go to another low, potentially ending on some of the minor horizontal support levels in the $4800 zone.

ETH/USD Forecasting

From yesterday’s high at $170.8 the price of Ethereum has decreased by 8.46% measured to the lowest point the price has been which is at $156.3. Since then the price made an increase to $164.34 which is today’s high but started moving to the downside and is currently sitting at $163.21.

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On the hourly chart, you can see that the price of Ethereum has started falling down below the minor support point which is currently being retested from the upside as the price managed to pull back up above it today but the support most likely isn’t going to be there as strong momentum was shown yesterday.

The price of Ethereum has started decreasing even strongly last week on April 10th and has fallen from $184 to $163.2 which was a decrease of 11.22%. This decrease has been made in a five-wave manner and is most likely the third wave from the higher degree five-wave move to the downside which started developing after the price ended its upward ABC correction on 8th of April.

The price also broke some of the significant support levels, namely the presumed ascending channels support level and the horizontal support at around $167. After those support levels got broken the price came up to the 1 Fibonacci level at around $170 where it got rejected as the resistance was found. This has set up the price for more downside which is why we have seen yesterday’s decrease.

If the projection is valid we are to see another move to the downside as the 5th Minuette wave should develop fully and could end around the vicinity of the C wave from the first ABC correction to the downside at around $155.

XRP/USD Forecasting

From yesterday's high at $0.33307 the price of Ripple has decreased by 5.7% measured to its lowest point today which is at $0.3141. The price made a small recovery to $0.32328 but again started decreasing and is currently sitting at $0.3206.

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On the hourly chart, we can see that the price broke the support around the 0.236 Fibonacci level on yesterday's downfall and has found support on the minor horizontal support level and the significant ascending trendline which is the “baseline support” from July 2017. It offered to serve as the last support point but the price went above it numerous times which makes it only as a significant oriental point.

Looking at the wave structure, we can see that the price is most likely in a three-wave correction from 5th of April when the spike to the upside was made above the 0.5 Fibonacci level. If we are seeing the development of the third correction more downside would be expected as the C wave should develop fully. The price could make another low to the lower horizontal support level at around $0.3131, but depending on the momentum we might see a deeper spike.

BCH/USD Forecasting

From yesterday’s high at $335, the price of Bitcoin Cash has been decreasing and came down today to $298.5 at its lowest point which was a decrease of little over 10%. From yesterday the price started increasing again but came up only to the half-range of the previous drop before it encountered significant resistance.

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Looking at the hourly chart, we can see that the price of Bitcoin Cash is in a five-wave increase from Friday when the price came down to $262.7. Now we are most likely seeing the 4th wave correction from the mentioned five-wave impulse which indicates that another higher high is to be expected when it ends.

The price action has formed a symmetrical triangle (not labeled) by the last corrective structure which could be interpreted as a bull flag considering the market context but I believe that we are going to see a move to the downside before the increase continues.

The target for the ending point of the 5th wave would be at around $343.8 where the upper ascending trendline is but could end on the lower one if we see truncation.

Crypto Market Conclusion

The prices of the major cryptos are still in the sell zone as the market is experiencing downside continuation. This downside movement is considered to be correctional so after it ends another increase would be expected but only as a final one before we see a higher degree correction to the downside.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP): April 15, 2019

BTC/USD

From Friday's low at $4984, the price of Bitcoin has increased by 4.7% measured to the highest point today which is at $5218. Since then the price has started moving to the downside and has decreased by 0.87% and is currently sitting at $5174.3.

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On the hourly chart, we can see that the price of Bitcoin found support at the ascending channel's support level which has been unconfirmed before the Friday's interaction as the price at first came down below it, but quickly made a recovery back inside the territory of the channel and has been in an upward trajectory supported by the channels lower outlined level. Now that the price came up to the lower resistance level from the ascending channel of a higher degree an interaction has been made which looks like it is going to end as a rejection.

If the lower interrupted level serves as resistance again the price is headed for a breakout to the downside from the minor ascending channel on whose support level the price has relied on to keep up the upward movement.

The ascending channel that we are seeing on the hourly chart could be correctional in which case it would be the 4th wave of a higher degree. If that is true than the upward movement that we have been seen from Friday could be the beginning of the next impulsive increase to the upside. But considering the lack of momentum and the significance behind the resistance point above it looks like the price is headed for another downturn before we could see some impulsive increase.

I have examined the last upward wave structure and have counted three waves with the current one still in development. As now the price is in a downward trajectory it the decrease stopped at around $5139 it could be the 4th wave out of the last five-wave increase which would mean that another retest of the upper resistance could occur as another interaction that could trigger the sellers.

As there are three waves the structure could be correctional as an ABC correction to the upside after we have seen a five-wave downfall which could be the second wave out of the higher degree three-wave move to the downside. In that case, the price of Bitcoin is set to go down to $4720 area. But if the current increase continues for two more waves it would most likely mean that we are seeing the development of the first wave to the upside of a higher degree.

ETH/USD

From Friday’s low at $160.55, the price of Ethereum has increased by 6.14% measured to the highest point the price has been today which is at $170.41. Since today’s high the price has pulled back slightly and is currently sitting around $167.45.

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On the 15-min chart, I have laid out some of the possibilities that could occur in the upcoming period, namely a bullish one and a bearish one. Since the price came up to the 1 Fibonacci level and found resistance there another minor downtrend has started playing out.

This last downtrend could be the 4th wave if the movement from Friday is impulsive and should have ended now in that case as it made an interaction with the 1st wave’s ending point. If this is the case, then the price of Ethereum would now make another higher high optimally to the next horizontal resistance level at $174.4 which would be the 5th wave from the five-wave move.

If the five-wave move from Friday develops it would mean that the previous decrease was the ending wave of the correction that took place from Wednesday, April 3rd, which would mean that the increase seen would be the start of the 5th wave of a higher degree impulse.

But if we see more downside now below today’s low and the ending point of the 1rs wave from last Friday, that would mean that the increase seen has ended as a three-wave correction to the upside and is the 4th wave out of a higher degree impulse to the downside which would, in that case, imply that the previous five-wave move to the downside was the 3rd wave of a higher degree count out of the impulsive move to the downside with further lower lows ahead.

This is why the $167.2 level is serving as a validation point between the two outlined scenarios and is considered to be a significant pivot point today.

XRP/USD

The price of Ripple has been moving sideways from Friday more than other cryptos that have been recovering overall as they have made a slight increase. From Friday’s low at $0.32308 the price of Ripple increased by 4.06% on the following day as it came up to $0.33621 which was the weekends high as an immediate retracement occurred to $0.3247 which served as a horizontal support level over the weekend.

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On the hourly chart, you can see that the price of Ripple managed to stay above the 0.236 Fibonacci level which served as support but the price hasn’t exceeded the Saturday’s high like in the case of other major cryptocurrencies.

As the sellers are clearly putting the pressure on the horizontal level a breakout to the downside could be expected, but since the price came down in a three-wave manner from April 3rd to the vicinity of the 1st wave of a Minor count ending point it could have been the 4th wave correction before another impulse wave to the upside starts.

If we see the price decrease further from here and enters the territory of the 2nd wave that would mean that the previously presumed 4th wave is actually the five-wave impulse to the downside which would likely mean that the price of Ripple is headed for more downside as the five-wave impulse to the upside ended. But since the structures look corrective I think that we are going to see an increase very soon after the currently seen sideways consolidation ends around the vicinity of the 1st wave’s ending point as it got retested on the 4th wave.

Conclusion

The prices of the top 3 cryptos according to the market cap have been more or less increasing from Friday. This increase could be the start of the next impulse wave to the upside which would be the last one out of the five-wave impulse that started on the 26th of March.

The other possibility would be that the increase seen from Friday is a corrective one which means that another lower low is to start developing shortly and would imply that the previous five-wave impulse to the upside ended.

This will shortly be validated as today the prices have made an interaction with the first wave’s ending point so it enters the lower range of the second wave’s territory the second scenario would be validated and vice versa.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,BNB): April 12, 2019

BTC/USD

From yesterday's high at $5328.5, the price of Bitcoin has decreased by 7.04% measured to the lowest point to the price has been today so far which is at $4953.1. Since today's low, the price has managed to come above the $5038 level which is a minor horizontal support point which is currently being retested again.

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On the 15-min chart, we can see that yesterday's downfall was made in a five-wave manner which has been labeled as the C wave from the third Subminutte correction after last weeks impulsive increase ended. The price has made a dip below the support level from the presumed ascending channel in which the correction occurred and if now the price finds support there and doesn't continue its downside trajectory that would most likely mean that we have indeed seen a three-wave correction of a higher degree.

If this is true, then the price is now set to go for another higher high but as it is now most likely headed upwards it could make an interaction with the broken lower interrupted level which is the first level from what's presumed to be the resistance zone of the ascending channel of a higher degree. If the price find resistance at around $5208 and starts again moving impulsively to the downside the increase could be the second wave from the higher degree downmove, but if the price manages to enter the territory of the resistance zone above and stays inside it for some time we might see a breakout to the upside for a higher high.

These wave structures are looking corrective so I don't believe that we have started seeing the development of a higher degree downtrend but this would soon be validated.

ETH/USD

From yesterday’s high at $177.15 the price of Ethereum has decreased by 8.54% measured to the lowest price has been which is at $162. The cryptocurrency is currently being traded at $166.6 as a small recovery has been made.

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On the hourly chart, you can see that from this week’s Wednesday the price fell down in a five-wave manner which indicates impulsiveness and has found some temporary support around the still unconfirmed support level from the ascending channel made by the price action from last week’s Wednesday.

Like in the case of Bitcoin the seen five-wave decrease could be the start of an impulsive decrease but it looks like it is still the part of the corrective structure as the previous increase made from last Friday and ended on Monday looks more corrective then impulsive which is why I have labeled it as an upward ABC correction.

If this proves to be true the price of Ethereum is headed for another final higher high out of the higher degree Minor 12345 move which could push the price for interaction with the upper interrupted ascending trendline which is presumed to be the significant resistance from the ascending channel of an Intermediate degree.

The level that should be looked at is the horizontal resistance found at around the 1 Fibonacci level or its upper equivalent around $174 area. If the price gets rejected there further downside would be expected like depicted on the chart above but if it continues moving upwards the previous Subminuette downfall was most likely the wave C from the third ABC correction of a Munuette count.

BNB/USD

From last Wednesday when the price of Binance coin reached $20.56 at its highest point until yesterday when the price came down to $16.43 we have seen a decrease of 19.94%.

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On the hourly chart, you can see that the price of Binance coin decreased in a five-wave manner from Wednesday which could be the start of an impulsive move to the downside as previously the price has been in an uptrend from 15th of December which recovered the price for over 357%. The impulsive move to the upside might not have ended in which case the last downside movement could be another correction before the final wave to the upside which I think its more likely as the last Wednesday's increase has been labeled as the 3rd wave out of a higher degree impulse wave.

Now that the price found support on the minor ascending trendline and has started moving to the upside with strong momentum, increasing by 7.92% from yesterday's low we are about to see what happens around the 0.786 Fibonacci level which serves as a significant resistance point. If the price continues moving above it we are most likely seeing the continuation of the higher degree impulse but if it gets rejected and stars impulsively moving to the downside again, that could indicate the end of the bullish period for the price of Binance coin.

If the price continues moving to the downside, however, the previously seen five-wave move could be the first wave of a higher degree impulse which could indicate that the price of BNB has reached its highest point in a while.

Conclusion

The cryptocurrency market has found some temporary support as seen on the charts of the covered cryptos in today's analysis, so we are now about the see if it was the part of the correctional movement from last Wednesday with a higher high on a horizon or was it the start of the expected downtrend after the impulsive bullish momentum ended last Wednesday.

The likelihood of the first scenario is higher as the increase seen from last Friday throughout the weekend looks corrective, but if it was the 5th wave of a higher degree impulse the yesterday’s decrease is likely to be the start of a higher degree move to the downside.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,EOS,LTC): April 11, 2019

BTC/USD

From yesterday’s high at $5481, the price of Bitcoin has decreased by 8.8% measure to the lowest point the price has been which is at $4999.3

The price has started falling down fast since yesterday’s high as the majority of the decrease occurred in a matter of hours and as the price is still in a downward trajectory we are yet to validate if we are seeing the start of a new downtrend or is this a minor retracement before another higher high.

Click to see the full-size image.

On the hourly chart, we can see that the price came up to around the upper still unconfirmed resistance level which could be confirmed as a resistance point now that the price got rejected there and started falling down.

This resistance level was outlined as a potential ascending channel in which the price has been correcting since the 15th of December when the first impulsive move to the upside started. Now that the price came up to those levels and got rejected the downside movement we are seeing could be the start of a higher degree impulse wave to the downside or could be a minor retracement before another retest which I think its more likely at this point in time.

As according to my count we are seeing the development of a three-wave correction to the upside from 15th of December, the increase we have seen from 8th of February is the third wave which is the five-wave impulse and as it hasn’t ended we are now more likely seeing its 4th wave developing before another increase is to occur.

ETH/USD

From yesterday’s high at $183.73 the price has fallen by around 12% as it came down to $161.66 at its lowest point today.

Click to see the full-size image.

The price has fallen down to the still unconfirmed ascending channels support level which could be the corrective structure developing after the previous impulsive increase ended.

As we are now seeing shart downside movement the decrease seen could be the beginning of the downtrend that has started after the five-wave impulse wave to the upside ended on the interaction with the higher degree ascending structure that has developed from 15th of December but for now, looks like the part of the same correctional structure that occurred last Friday.

Now we are most likely going to see some upside movement which is either going to be further correctional movement so if the price breakouts out further to the downside the scenario in which we are seeing the start of the new downtrend developing would be confirmed.

LTC/USD

From yesterday's high at $91.318 the price of Litecoin has decreased by 12% measured to the lowest point the price has been today at $79.87. The price has been in a downtrend from Saturday when it came up to around $98 in which the price decreased by around 20% and is still moving to the downside.

Click to see the full-size image.

Looking at the hourly chart, you can see that the price of Litecoin is in a corrective stage after the price increased parabolically last week and as I have counted the sub-waves of the corrective structure we are now seeing its third component developing. The RSI is signaling extremely oversold conditions as it came down below 20% mark.

This third ABC correction would be the third wave of a higher degree corrective count which is why after a bit of more downside I would expect to see the start of another move to the upside very soon. If previously we have seen the ending point of the 5th wave of a higher degree the now seen correction could be the start of a higher degree move to the downside, but as it has developed in a three-wave manner it could be a retracement before another upswing if the 5th wave hasn't ended.

From the momentum behind the expected upward move we are to evaluate the likelihood for the projected scenarios but for now in the short-term I would be expecting a corrective upswing, potentially reaching a higher high compared to the last week's one but if this occurs it would be the last increase before an impulsive move to the downside starts.

EOS/USD

From yesterday's high at around $6 the price of EOS has fallen by 12.6% measured to the current level on which the crypto is being traded at $5.3 which isn't the lowest price has been as it spiked down to $5.1 but the hourly candle closed above as the buyers have stepped in and are currently holding the price.

Click to see the full-size image.

Looking at the hourly chart you can see that the price came down to the still unconfirmed support level of the ascending channel which is validating my assumption that the previous increase was corrective in nature and not a continuation of the upward momentum we have seen ended last Wednesday when the price of EOS increased by 61.83% reaching $5.847 at its weekly high.

As the price encountered the most significant resistance point to the upside a correction started developing with the price at first falling down by 16.25% after which an increase of 22.43% occurred and now another downfall. This could movement that we have seen from last Wednesday is most likely to end as a higher degree of three-wave correction.

As the RSI is signaling oversold and the price reached minor ascending support level an upward movement is now expected which could be a continuation of the bullish momentum that we have seen from last week and would be the 5th wave of Minor count impulse wave.

If the 5th wave ended however the now seen sideways movement could be the part of a higher degree correction that is set to serves as a consolidation point between the buyers and the sellers before the sellers take control again.

Conclusion

The cryptocurrency market has decreased as expected as previously we have seen some correctional upside action. The decrease seen is for now considered to be a minor retracement before another and final higher high from the last impulse wave but if the price starts further falling down it could indicate that the expected downtrend has started as the impulse wave to the upside ended.

Current Crypto Market Snapshot:

Coin360.com – Click to see the full-size image.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP): April 10, 2019

BTC/USD

From yesterday’s open at $5317.3 the price of Bitcoin has decreased by 2.64% at first as it came down to $5177.1 at its lowest point today but has since then increased again and came up to $5293.9 at on today’s high.

The price is currently being traded slightly lower, at $5276 but is still in an upward trajectory.

On the 15-min chart, we can see that the price of Bitcoin came up again to its significant horizontal resistance level on yesterday’s high when the interaction has been made. The level is significant as its the prior high level and is most likely serving as strong resistance as the impulsive upswing with strong momentum has been stopped out there.

The price attempted to surpass the level two times after the first ABC retracement but has failed to do so which is why it has created a cluster between it and the support offered by the still unconfirmed lower resistance line of the ascending channel of a higher degree.

After the first ABC ended an ascending channel was developed as the price continued increasing but since the increase looks corrective, judging by the wave structure, and hasn’t managed to pull the price above the significant resistance I think that it is the second corrective structure after the price of Bitcoin exponentially increased.

The ascending channel got broken from the downside on Monday, but the price found support on the unconfirmed lower resistance of the ascending channel of a higher degree. From there another attempt has been made but ended as a lower high which indicates that the buyers are starting to lose traction.

Today we have seen a minor breakout to the upside from the last unconfirmed structure which is a symmetrical triangle, but the price hasn’t come up to the horizontal resistance level yet.

Another interaction would be expected as the price is still in an upward trajectory but I believe that it is going to end as another rejection that is set to push the price back down below its current support level and potentially below the 1.618 Fibonacci level.

As the previous minor ascending channel has been labeled as a WXY correction the movement that followed could be its prolongation in which case the current upside movement would be its final wave Z.

The now expected downside movement would be a third correctional structure, most likely another ABC Zigzag which would in conjunction with the previous two correctional structures constitute a higher degree three-wave correction.

If this occurs I would be expecting to see the price of Bitcoin below $5000 again.

ETH/USD

From yesterday’s open at $183.87 the price of Ethereum has fallen by 4.2% at first at its lowest point today which is at $176.14 but has come up to the levels of the yesterday’s open at its highest point today, from where a minor retracement occurred.

The price is currently sitting at around $181.5 and has started to move to the downside again.

On the 15-min chart, we can see that the price of Ethereum came up to the significant horizontal resistance level today and since the interaction, a minor retracement has occurred, but the price has managed to stay above its current support level above $180 where the 3rd Minor impulse wave’s ending point is.

As after an impulsive increase we have seen last week on Wednesday we have seen a three-wave move to the downside I would have been the 4th wave which is corrective in nature. If this is true then the ascending structure we have seen followed was most likely the development of the 5th wave.

The ascending structure looks more corrective then impulsive which is why I think we are still seeing the development of the 4th Minor impulse wave but it could very well be the final 5th wave as a higher high was been made compared to the one which has been labeled as the 3rd wave.

Now that the price is in an upward trajectory if we see the continuation of the uptrend and the price managed to make a higher high, I would think that it was the 5th wave of a higher degree impulse, but if we see another downfall below the $180 I would consider that we are more likely still in a corrective stage of the 4th wave with another increase ahead as the 5th wave should develop.

XRP/USD

From yesterday’s open at $0.36347 the price of Ripple has fallen to $0.3511 at its lowest point today but started increasing immediately after and came up slightly below the level from which the downfall was made and is currently being traded around $0.359.

On the 15-min chart, you can see that the minor descending trendline got broken which could be an early indication that another increase has started but this won’t be validated until the price exceeds the 0.5 Fibonacci level.

As the price of Ripple made a substantial increase last week a shart downfall was made and is considered to be the 4th wave of a higher degree five-wave move. If this is true then the following structure is the 5th wave and in particular as the price came slightly above the 3rd wave’s ending point.

If we seeing the development of the 5th impulse wave the price is now headed for another higher high as the downward corrective movement we have seen from Friday would be the 4th wave of the Minute degree.

Conclusion

The prices have been struggling to keep up the upward momentum but have still been succeeding it. Even though the increase we have seen is slow it could be the continuation of the last impulse wave to the upside in which case a higher high would be expected.

The other possibility would be that the impulse wave to the upside ended in which case we are seeing the corrective structure after the downward movement starts.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): April 9, 2019

Bitcoin Price Prediction: BTC/USD Exchange Rate Value

From last Tuesday when the price of Bitcoin was sitting around $4192 at open we have seen an exponential increase for the price of Bitcoin as on the same day the price increased to $4894 which was an increase of around 17% in a matter of hours.

The following the day the price continued its upward trajectory and has come up by another 8.15% before a significant pullback occurred on Friday when the price fell by approximately the same as the previous increase, as it came down from $5327 to $4861.9 which was a decrease of 8.73%.

Over the weekend the price continued increasing and came up to $5332 level again which has proven to be a significant resistance point as the price previously came to that level which caused a sharp pullback, and has attempted another breakout yesterday but has been stopped out at those levels.

Today the price again came close to the horizontal resistance level before starting to move to the downside again.

The is still above the still unconfirmed ascending channel of a higher degree resistance level which serves as a minor support point as the price found support twice there, after attempting to surpass the most recent high level but failed to do so.

As we seeing clear signs of struggle the BTC price is now most likely to attempt another run up which could exceed the prior high if there's enough momentum in which case then I wouldn't expect it to go past the $5562 horizontal level intersection with the upper ascending trendline which serves as resistance.

The interaction with the area is expected but only as another attempt for the price to break out from the current structure which will most likely end as a rejection causing the price to start moving in a downtrend for a deeper retracement.

Ethereum Price Prediction: ETH/USD Exchange Rate Value

From last Tuesday when the price of Ethereum was sitting at around $143.21 at its lowest point, measured to $186.41 which is the highest point the price has been yesterday and is the weekly high so far, we have seen an increase of 30.1%.

From yesterday’s high the price has fallen by 5.53% to today’s low at $177.13 but started moving upwards again and is currently sitting at around $180.

With the price of Ethereum making a higher high compared to Wednesday’s one, we have likely seen the development of the 5th impulse wave out of the five-wave move to the upside. As the 5th wave hasn’t ended (indicated by the wave structure), another increase is expected before we see the start of the downtrend developing.

The price is expected to go to the 1.272 Fibonacci level which is in price terms at $194 but after it ends a move to the downside would be expected to start. This downside movement could be the start of the trend continuation if the seen increase was corrective in nature which I think it was, or it could be another retracement before further upside movement.

In either way, we are soon most likely to see the start of the downside movement from whos momentum and depth we are to see the likelihood of the projected scenarios. Read all of the ethereum price predictions here to see past movements for today's market.

Ripple Price Prediction: XRP/USD Exchange Rate Value

Last Tuesday, the price of Ripple was sitting around $0.31362 at the open. From there the price increased exponentially by around 19% like in the case of Bitcoin until the following day when it reached $0.374 area.

From Wednesday until Friday we have seen a sharp pullback of 11.57% as the price came down to $0.33 area but another increase with strong momentum was seen, recovering the price back to the levels from which the downfall was made.

Over the weekend we have seen a corrective decrease for the price of Ripple which pushed the price down to around the 0.382 Fibonacci level which serves as a support. Now that the interaction has been made with the Fibonacci level the price has started moving to the upside again.

From the current upside movement, we are to see the likelihood of another upswing but since the wave structure hasn't developed fully I think we are to see another increase which would be the 5th impulse wave out of the five-wave move to the upside.

Before the 5th wave should start developing the current correctional structure has to end, and we could see the prolongation with another move to the downside potentially before it starts. The price is set to interact with some of the upper Fibonacci levels for the 5th wave completion so the most optimal level I would be looking for is at the 0.786 or in price terms at $0.4177

Bitcoin Cash Price Prediction: BCH/USD Exchange Rate

From last Tuesday when the price of Bitcoin Cash was sitting at $162.7 at the open, we have seen an increase of 110.41% as the price came up to $351.3 on the following day. From there the price has started retracing and fell to $273.2 which was a decrease of 21.82% and has started moving sideways since.

As you can see from the hourly chart the wave structure implies that the increase we have seen last week was the 5th wave of the impulsive move to the upside ending as an interaction with the ascending channels trendline.

The structure that developed after the increase was made resembles the one after the price made the initial recovery from 15th till 24th of December last year which implies that the upswing has most likely ended.

If this is true then we are seeing the start of the downward movement like we did last time the price exponentially increased which is why now more downside would be expected for the price of Bitcoin Cash in the upcoming period.

Conclusion

The prices of the major crypto coins have been showing first signs of struggle as they have encountered their significant resistance points to the upside. In some cases, the price has a bit room to the upside but the start of the downside movement is getting close as in some cases it has most likely already started.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP): April 8, 2019

BTC/USD

From Friday’s open when the price of Bitcoin was sitting at around $4906, we have seen an increase of 8.68% measured to the highest point the price has been today which is at $5332.9. The price has fallen from there by 3.73% as it came down to $5137.9 at its lowest today but is currently sitting at around $5208.

Click to see the full size image

Looking at the hourly chart you can see that the price of Bitcoin came above the presumed ascending channels resistance level and has retested it on today’s low as it bounced from it but hasn’t come up to the broken support of the minor ascending channel that was formed from Friday.

Since the price was below the 1.618 Fibonacci level an impulsive move was made past the upper resistance and the price continued its upward trajectory for another higher high after the interaction with the resistance of the ascending channel which served as support. The higher high was made to the levels of the previous one made on 3rd of April and since then the price started impulsively moving to the downside.

This could mean that the 5th wave of the upward impulsive move has ended which would then implicate that now we could be seeing the start of the retracement. As the price of Bitcoin experienced an exponential increase last week the price has entered into its corrective stage from 3rd till 5th ending as a three-wave ABC.

As we have seen the completion of the three-wave correction followed by what appears to be another five-wave move in an ascending channel the five-wave move of a higher degree has most likely ended as a retest of the prior high. We might see another increase if the 5th wave hasn’t ended but considering that the prior high was retested and the price found resistance there which it into a downward trajectory breaking out from the ascending channel in which the increase was made I believe that we have seen the end of the corrective upswing.

There is also a possibility that the minor ascending channel was corrective in nature and is a part of the same correction as the prior ABC. If this is true that the price is now headed for another correction to the downside which will be the 4th wave out of the higher degree five-wave movement to the upside and in that case, another increase would be expected past the prior high at $5339.

ETH/USD

From Friday’s open at $157.73 the price of Ethereum has increased by 19.16% measured to today’s high at $187.9. The price has retraced from there and fall to $175 level which is a decrease of 6.91% but managed to recover quickly to around $179 where its currently sitting.

Click to see the full size image

On the hourly chart, you can see that the price of Ethereum has created a similar pattern to that of Bitcoin but the ascending structure was broken from the upper side and the price made a higher high and came to the horizontal resistance at $187.47.

The upside movement still has some room until the end as I think that we are to see another increase to the 1.272 Fibonacci level which is the significant resistance point. The price is currently retesting the broken ascending structure’s resistance for support which is most likely the 4th Minute wave of the last 5th wave of a higher degree which means that another increase could be made as the impulsive move develops fully.

As the price came up past the prior high which was the 3rd wave from the Minor count the 5th wave is near completion. This means that very soon we are to see the start of the downside movement as this increase was corrective according to my count and was the Y wave from the WXY Intermediate correction that started around 15th of December when the price of Ethereum was $83.

From there until today’s high, the price of Ethereum recovered by 125.47% and from the start of the last upward move by around 80% so now a retracement back to some of the significant support levels would be highly likely even if the price is to continue moving to the upside.

If we have seen the end of the Intermediate WXY correction the expected downside movement would be impulsive as the trend continuation should start, but if we are seeing the prolongation of the mentioned correction, expected downside movement could be the second wave X from the WXYXZ correction which would result in another higher high before the expected trend continuation starts.

This we are to see from the further development of the price action movement especially from the expected downside movement and its momentum.

XRP/USD

The price of Ripple has entered into its corrective stage over the weekend as it increased by 16.17% on Friday, coming from $0.33 to $0.38348 at the highest point. This increase was most likely the 3rd wave of the five-wave move of a lower degree which the last wave from the higher degree impulse wave.

Click to see the full size image

As the 3rd wave came up to the 0.5 Fibonacci level which serves as significant resistance point a retracement occurred back to the previous one at around $0.35. The three-wave structure developed over the weekend which is why I think that today’s interaction with the 0.382 Fibonacci level was the end of the Minuette 4th wave.

If this is true then the price is set to start increasing from here as the 5th wave to the upside should start developing going past the prior resistance at the 0.5 Fibonacci level and potentially ending on the 0.782 at $0.4177 or lower at the 0.618 Fibonacci level at $0.3894.

Conclusion

The cryptocurrency market has continued moving to the upside over the weekend but with slow momentum. This increase is according to my analysis the 5th wave from the corrective upswing so now that it most likely still hasn’t ended we are to see a continuation from the movement to the upside.

Currenty Crypto Market Overlook:

Source: Coin360.com – Click to see the full-size image.
Source: Coinlib.io – 24hr Money Flow – Click to see the full size image

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC): April 5, 2019

BTC/USD

From its highest point on Wednesday when the price came up to $5336.6 at its highest point, we have seen a decrease of 9.41% yesterday as the price fell to $4834 at its lowest point. Since that low, the price has increased by 5% measured to the highest point today at $5076 but has retraced since then and is currently sitting at around $5049.

Click the image above to see it in full-size

Looking at the hourly chart you can see that the price of Bitcoin came up to the 1.618 Fibonacci level again today for a retest of resistance and the resistance was there judging by the wick from the upside on the current hourly candle as well as the one that first came to it. It looks like a three-wave move to the downside has ended which is why we are seeing a minor uptrend developing but this uptrend could be only a prolongation of the correction that is now taking place after the price increased impulsively.

We could also very well be seeing the start of another increase which is set to surpass the Wednesday's high if the impulsive move to the upside hasn't ended so depending on the interaction with the resistance levels below we are to see the potential behind the further price action movement. If the price continues moving above the 1.618 Fibonacci level I would consider that another increase is coming, but if we see a rejection the most likely scenario would be that the increase ended.

Previously we have seen an ascending channel which could have been the 5th wave out of the five-wave impulse in which case the now seen correctional structure would be the start of the downward movement of a higher degree as the Intermediate Y wave ended. If this is true then the price of Bitcoin is headed for more downside below the point from which the last increase was made at around $4300 where the significant horizontal resistance point is, and considering that the level got broken with strong momentum a retracement back to those levels for a retest of support would be optimal.

But if the increase hasn't ended the price of Bitcoin could continue moving to the upside for a one more high in which case I would be expecting an interaction with the $5562 horizontal support level which now serves as resistance and is likely getting interacted with.

ETH/USD

From Wednesday’s high at $181.75 the price of Ethereum has fallen by 14.6% until yesterday when it came down to $155.21 at its lowest point. From there, there started a minor increase and has managed to recover by 7.54% measured to its highest point today which was at $166.92 around which the price is currently sitting at $167.1.

Click the image above to see it in full-size

Looking at the 4-hour chart we can see that the price of Ethereum increased to its lower resistance level on Wednesday and spiked above it. As the price entered the seller's territory an immediate retracement occurred as the selling was triggered which is why the price fell below the mentioned level again and is currently still there even though we have seen some bullish action today.

As you can see there is a possibility of another increase if the 5th impulsive move hasn’t ended in which case the retracement we have seen develop yesterday would be the minor correction which is the 4th wave out of the five-wave move to the upside.

Now that we are seeing the price in an upward trajectory again, soon the potential of another increase would be evaluated and the level of validation that is going to serve in this case would be the mentioned horizontal resistance level at $174.4.

If the price find resistance there then we are most likely seeing the top of the previous increase and a consolidation afterward that is set to develop as the first descending structure out of the higher degree move to the downside, but if the price now retraced back after today’s increase with a higher low, then today’s increase could be the start of the 5th wave out of the Minor impulse wave.

LTC/USD

From Wednesday's high at $99.55 the price of Litecoin has fallen by 18.25% measured to the lowest point yesterday at $81.38 but since then it started increasing again and has managed to recover by 9.66% as it came up to $89.311

Click the image above to see it in full-size

On the hourly chart, you can see that the price of Litecoin started decreasing in a three-wave manner from its highest point on Wednesday and as it ended another minor uptrend has started as we have seen in the case of Bitcoin.

As I have counted the sub-wave I believe that the recovery is over or is near completion if we see the 5th wave continue moving to the vicinity of the yesterday's open level but when it ends I would be expecting another move to the downside.

As the price of Litecoin increased exponentially in a five-wave manner we are now seeing consolidation taking place like expected but as the structure is still developing it is not clear whether or not it is going to be a quick correction before another run up or would this consolidation be the one before the start of a higher degree move to the downside.

We have seen an increase above the significant resistance point which got broken with strong bullish momentum so a pullback for the establishment of support is now needed if the price is to continue moving to the upside but if the increase ended altogether we are could be seeing the start of a trend continuation of a higher degree as this upward movement was correctional.

Conclusion

On Wednesday we have seen the prices of all the major cryptos showing first signs of the encountered resistance which set off the prices into a consolidative stage and a minor decrease was seen that ended yesterday.

Now that the prices started increasing again today we could be seeing the start of the final movement to the upside which would be the 5th wave of of the five-wave move to the upside but it is still unclear whether or not the previously encountered resistance would be enough to stop the price out at another attempt.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,BCH,XRP): April 4, 2019

BTC/USD

From yesterday’s high at $5331 the price of Bitcoin has started decreasing and has spiked down to $4842 at its lowest point today, but the price recovered shortly and came up above the $4970.5 which is a minor horizontal support level today.

Click to see the full-size image.

On the 15-min chart, you can see that the price action formed an ascending channel until yesterday when the price spiked above the significant resistance, entering the sellers territory above the still unconfirmed ascending channel’s resistance level and the 1.618 Fibonacci level.

As the price made a quick peek above the range it was being traded the selling was activated which is why we have seen a 9.19% pullback from yesterday’s high to today’s spike to the downside and after that, a corrective increase took place in what appears to be a three wave move that ended as an interaction with the Fibonacci level that serves as support, setting the price into a downward trajectory again.

This could be the start of another downfall like we have seen from yesterday’s high which is the A wave of an ABC correction now likely developing which is why a move with a similar momentum to the downside is now expected.

If we have seen the end of the five-wave move to the upside, this current downside movement could be the start of a higher degree impulsive move so the price action could develop in a five-wave manner instead of the projected three-wave correction. If this would occur we are to see further downside then the lower Fibonacci level at $4685.

ETH/USD

The price of Ethereum has decreased by 11.71% from today’s high as the price fell to $160.15 level on today’s low and even spiked further down to $151.8 but the buyers have caught the price there and have pushed it back up making a fast recovery that left a large wick on the hourly chart.

Click to see the full-size image.

As you can see the price spiked down to the 0.786 Fibonacci level and has retested it for support but made a recovery only to the median point of the current range between the Fibonacci levels which could be an early sign of weakness.

This movement is indicating the correction after the price tops so we could be seeing the end of the five-wave movement to the upside as the price increase exponentially. Counting the sub-waves I think the price of Ethereum has still one more wave to the upside before this bullish momentum ends but as the previous correction is making it hard to say where the start of the impulsive move should be counted we could have seen the end of the increase altogether.

The price came above the prior high level, spiking to $181.4 at its highest point but since it encountered resistance there an immediate pullback occurred inside the prior range. As the price increased exponentially we are now seeing consolidative price action that could either end as a correction after another run-up or would be the second wave of a higher degree move to the downside, so depending on the depth of the retracement and the momentum behind the selloff we are to see the potential of the further price action movement.

I would be expecting the price to come back down for another decrease like we have seen from yesterday’s spike to today’s low as it would be the third wave of the downside movement which started after the upswing ended so a proper interaction with the 0.786 would likely occur.

XRP/USD

From yesterday’s high at $0.37426 the price of Ripple has decreased at first to $0.35177 before coming up again to around the same levels from which the decrease was made but started falling even strongly from there as the high was retested and came down by 12.17% to $0.32875 at its lowest point today.

As the price fell down fast the buyers have caught the price again and have managed to make a recovery to $0.34255 which is today significant horizontal level which is currently being retested from the downside.

Click to see the full-size image.

Looking at the hourly chart you can see that the price action moved in 4 waves for now which is why I would be expecting to see another downside movement as the 5th wave should develop to the downside. The 5th wave development has most likely already started after the price came up to the 0.382 Fibonacci level for a retest of resistance and since it got rejected there another downfall has started.

We could be seeing the start of a higher degree correction to the upside if the downside movement ended as a three-wave correction but as this structure looks corrective altogether I think that this would end as a five-wave move to the downside which would be the higher degree first wave to the downside.

The price is still above the $0.3366 horizontal level which is a good sign but before the current downside movement ends I would be expecting either a proper retest of it for support with some of the hourly candles closing on it or even a breakout to the downside potentially ending on the lower Fibonacci level at $0.32504.

BCH/USD

From yesterday when the price of Bitcoin Cash was sitting at $351.3 at its highest point we have seen a decrease of 17.6 measured to the level on which the price found support today a couple of times which is at $289.5. The price spiked even further down, to $266 but an immediate recovery has been made above the mentioned level which serves as horizontal support today.

Click to see the full-size image.

On the hourly chart, you can see that the price has started a retracement after reaching its most upper resistance levels around the still unconfirmed ascending channels resistance as well as the horizontal support level at around $317 which serves as resistance. The price has even gone slightly above those significant resistance points but as it entered the seller's territory an immediate pullback occurred below the mentioned levels.

This pullback could be an early sign of a top similar to what we have seen after the Intermediate W wave ended with a huge spike before the price started moving to the downside in a corrective manner. As I have counted five waves I think the increase has ended although there could be further upside movements if the 5th wave hasn’t ended.

Now that the price is starting to show signs of the momentum slowing down we are most likely to see some corrective consolidation that could push the price back to retest the ascending channels resistance levels again before the interaction setting the price for more downside movement.

This could be the start of the trend continues as the Intermediate correction ended or could be a further prolongation of the mentioned correction but in either way, now I would be looking at some of the significant support points for interaction as the support is to be established.

Conclusion

The market has started to pullback after we have seen the bullish momentum started losing strength which is why today we have seen spikes to the downside as the selloff most likely started. If this is a quick correction before further downside one lower low would occur before an immediate increase, but if we are seeing the start of a higher degree downside movement as the prices have finished their run up the prices are going to take their time correcting further.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,NEO,XRP): April 3, 2019

BTC/USD

Yesterday, the price of Bitcoin was sitting at $4198.5 at the open from where it started increasing parabolically by 21.13% measured to the highest point the price has been today which is at $5081.

Click to see the full-size image.

Looking at the hourly chart you can see that the price came up to the 1.618 Fibonacci level extension where it was stopped out on yesterday’s spike before coming back below it only for a proper interaction today.

Counting the sub-waves of the current ascending structure I have counted Minuette five waves which is why now I believe that we are to see some consolidative structure develop which would be a retracement, most likely to the lower Fibonacci level at $4685.5.

This consolidative structure would be the 4th wave from the Minor degree count which means that another increase would be expected after it ends. This five-wave increase that we have seen was expected to develop after further downside from 25th of March but it looks like the three-wave correction which was expected to push the price lower to some of the significant support levels ended on the interaction with the 0.618 Fibonacci level, which is why the increase started sooner.

Now that it did we are seeing the third wave from the Intermediate Y wave from the correctional count that started on 15th of December and is going to end as a 5-3-5 correction, which is why now I would expect to see further development of the now occurring five-wave impulse.

ETH/USD

The price of Ethereum has increased by 25.42% from yesterday’s low at $141.53 measured to the highest point the price has been today at $177.51. Currently, the price is sitting at $171.26 but it has lower as it fell to $165.5 at its lowest point today after the upward momentum started slowing down.

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On the hourly chart, you can see that the price came above the prior high level where it encountered resistance as it entered the seller's territory which is why an immediate downfall below it occurred today.

The price started increasing impulsively from inside the ascending channel which was formed by the upward Minute WXY correction. As we have seen a minor five-wave move to the downside afterward I believed that this was only a lower degree wave from a larger move to the downside which would be the Y wave from the Minor WXY correction after a Minor five-wave increase was made.

Since the Minor WXY correction ended on a minor breakout from the ascending channel when the price came down to $133.4 the third wave from the Intermediate Y wave started as we have seen a Minuette five-wave move developed and pushed the price back inside the territory of the ascending channel whos resistance line was retested at the ending point of the Minuette increase.

As this was only the 1st wave from a Minor five-wave move to the upside we have seen the 3rd and the strongest impulse wave develop which is why, now, we are most likely going to see some correctional structure starting which would be the 4th wave. After this consolidation ends another increase would be expected as the 5th wave should develop potentially to the next Fibonacci level which would bring the price of Ethereum up to $194.18.

XRP/USD

The price of Ripple has increased by 18.6% from yesterday’s low at $0.3159 as it came up to $0.37467 at its highest point today. The price fell from there to $0.3516 level and spiked even lower to $0.3452 but left a large wick on the hourly chart indicating that the buyers are very much present.

Click to see the full-size image.

The price came up slightly above the 0.5 Fibonacci level but since it peaked above into the seller's territory the selling was triggered which cause the price to decrease by 7.78% in a matter of two hours, but the buyers have started picking up the traction again as they have managed to keep up the price above the 0.382 Fibonacci level.

As the price is currently in the mid-range between the Fibonacci levels I think that the 4th Minor wave development has started which is going to be a corrective structure most likely forming some kind of a triangle inside which the consolidation is to take place before finally, buyers are to push the price further up as the 5th wave should develop.

NEO/USD

From yesterday’s open at $10.05 the price of NEO has increased by 28.96% measured to the highest point on today’s spike which was at $12.96.

Click to see the full-size image.

Looking at the hourly chart, you can see that the price of NEO came above the ascending resistance line which is the upper level from the ascending channel in which the price action has been bouncing from 15th of December which is why this interaction is significant especially considering that we have seen the price exceeding it slightly only to fall back below it again as is currently forming a cluster.

As this was most likely the end of the Minute five-wave move and the price has interacted with its significant resistance we are going to see a retracement developing to 1.414 Fibonacci level which is the prior high ending point level.

This doesn’t mean that we can’t see further increase above the major resistance at the 5th wave could get extended.

Final Thoughts

The cryptocurrency market has experienced a sudden increase which caught off guard many as well as myself but now as I am seeing that the momentum is slowing down and that the majority of the increase has been developed a bit more upside could be expected in the following period before but not before we see some consolidation taking place.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,BCH,XRP): April 2, 2019

BTC/USD

From yesterday's open at $4163 the price of Bitcoin has increased by 22.7% today measured to the highest point the price has been which is at $5108.

Click to see the full-size image.

On the hourly chart, you can see that the price came to the descending trendline on Saturday when the interaction has been made after which a minor retracement occurred to the 0.786 Fibonacci level where the price found support on a quick spike as it came back to the significant resistance level and was hovering around before finally going above it slightly, retested it from the upside after which strong momentum was shown to the upside as the price increased impulsively and parabolically.

I was expecting that the interaction with the significant resistance level would end as a rejection with the price going down first to establish support on the lower ascending trendline around $3666 before we see a breakout to the upside but instead, the price continued moving to the upside and has managed to break major key resistance levels along the way.

This bullish momentum could be the continuation of the Intermediate Y wave and as the price spiked to just little over $5100 and retraced by around 7% after we are now seeing the first signs of the momentum slowing down. From today's highest point the price has retraced by 7.48% but has started increasing again and is currently 5.25% lower than on its highest point which could be an early indication that the momentum would continue.

As the price has increased exponentially we are now most likely to see consolidation above the 1.272 Fibonacci level which will now most likely get tested for support.

ETH/USD

From yesterday’s low at $142.26 the price of Ethereum has increased by 10.07% to its highest point today at $156.59. The price is currently sitting at 155.43 and is still in an upward trajectory.

Click to see the full-size image.

Looking at the hourly chart, you can see that the price of Ethereum broke out form the ascending triangle from the upside and has managed to come above the 0.786 Fibonacci level which served as resistance.

As the price of Ethereum created an ascending structure after a descending one I was expecting to see a breakout to the downside as the ascending structure was corrective in nature and was considered the second wave out of a higher degree three-wave correction to the downside.

This count still hasn’t been invalidated even though we have seen a breakout to the upside. The upward momentum has come as a surprise but now as the five-wave move looks near completion we will see if the price is headed for more upside or was this movement still the part of the projected scenario in which we are to see more downside.

If the price continues moving impulsively to the upside we could be seeing the start of the higher degree five-wave move but if we see an immediate retracement from here this could be only an overreaction of the corrective increase.

XRP/USD

The price of Ripple has increased by 10.44% from yesterday's open at $0.31367 measured to its highest point today at $0.34641.

Click to see the full-size image.

On the hourly chart, we can see that the price of Ripple came above the horizontal resistance level at $0.3366 but hasn't come to the 0.382 Fibonacci level yet which is why further increase would be expected as the price action is to complete its five-wave pattern. Currently, we are seeing the signs of a struggle around the mentioned horizontal resistance level but as the price is still above it which can be viewed as a good sign.

The level is most likely going to serve as support but further retesting would be needed, and considering that we have most likely seen the development of the 3rd wave, now the 4th wave could develop above the level which would mean that now we could see some consolidation before another runup.

BCH/USD

From yesterday’s low at $166.5 the price of Bitcoin Cash has increased by 14.1% measured to the highest point the price has been which is to around $190. The price is currently sitting around $185 but is still in an upward trajectory much like in the case of other major cryptos today.

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Unlike in the case of other major cryptos, the price of Bitcoin Cash was expected to continue increasing for one more high as the 5th wave out of the five-wave impulsive move to the upside didn’t develop and now that the price increased to the projected levels around the resistance zone we are going to see if the projected scenario gets validated.

The price has gone above the $180 resistance and as it could have entered the seller's territory an immediate start of a downtrend would be expected as the Intermediate Y wave most likely ended or is near completion.

If this is true then the price of Bitcoin Cash would now start to move to the downside either as a trend continuation or a minor retracement before further corrective upside movement.

Conclusion

The cryptocurrency market has seen a surprising increase today, lead by Bitcoin who increased the most out of the top major cryptocurrencies which followed the momentum. The seen increase broke major significant resistance points but it is still unclear whether or not this increase is the past of the prior corrective increase or are we seeing the start of a new impulsive move to the upside which is set to push the prices even higher and with stronger momentum then currently seen.

This will soon be validated by the price action as if we see an immediate pullback with the equal or similar momentum to the downside we have likely seen another attempt for a breakout ending as a fakeout, but if the price pulls back steadily and only by around 30-40% before starting to move to the upside again, we could be seeing the development of a new uptrend.

Current Market Overview:

Coin360's Sea of Green – Click to see the full-size image.
CoinLib 24hr Money Flow – Click to see the full-size image.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP): April 1, 2019

BTC/USD

Over the weekend the price of Bitcoin has gone to $4203 at its highest point on Saturday’s open from where the price decreased at first and came down to $4145, but then again started increasing and came up to the same level on Saturday’s open, on today's.

On the hourly chart, you can see that the price of Bitcoin came up to the ascending triangle’s resistance level which was retested today as the price is once again at those levels. As the price was stopped out at the significant resistance point we are yet to see if the increase continues but as the price action created a similar pattern like it did when the interaction with the 0.786 Fibonacci level was made I would be expecting a retracement.

The price has increased from last Monday when it was sitting at around $3940 below the horizontal support but slightly above the ascending triangle’s support line intersection with the 0.618 Fibonacci level which was the significant support point.

As the buying was activated there an increase has been made but as the price now came to the most significant resistance level which was well respected in the past we are most likely to see the start of another downside movement.

Considering the market context I believe that the upswing from last Monday was correctional as previously we have been seeing some sideways movement before the price dropped down with strong momentum so the increase which followed could be another corrective increase before the trend continues to the downside.

The upward movement might continue if from 4th of March we have been seeing the development of the wave to the upside which is labeled as an upward ABC correction according to my count but I could have also been a five-wave correction to the upside which ended today.

If the price continues moving above the current significant resistance line I would be expecting an increase to around $4300 where the next horizontal resistance level is, but more likely now we are to see the start of the move to the downside.

ETH/USD

From Friday when the price of Ethereum was sitting at around $140 at its lowest point we have seen an increase of 6.54% measured to the highest point the price has been over the weekend which was at $149.13 on Saturday.

From there the price started decreasing and came down by 4.16% to $142.94 and has been moving sideways in the horizontal range out of which the mentioned level is its support and the resistance is around $144.5 around which the price is currently hovering.

On the hourly chart, you can see that the price of Ethereum created an ascending wedge in which we have most likely seen a five-wave correction which could also be true in the case of Bitcoin as the price action created a similar structure.

If this is true then the increase we have seen over the weekend ended and the price is now set to immediately start moving to the downside with a stronger momentum as either the next correctional structure is to develop or we are to see the start of an impulsive move. The price of Ethereum is in the mid-range of its current ascending structure as its support was retested today and is getting close to the apex so soon we are to see a decisive move.

As we have seen a five-wave impulse to the upside after which a move to the downside developed, now that the ascending structure is near completion most likely a breakout to the downside would occur. There could be a possibility of another increase like in the case of Bitcoin in which case I would be expecting a 5th wave extension to retest the upper resistance points which would in the case of Ethreum be around $151 around the 0.786 Fibonacci level but as the momentum behind the bullishness shown over the weekends is slowing down I don’t believe that’s likely.

The price of Ethereum is now more likely headed for a breakout to the downside in which case I would be expecting to see an interaction with the lower ascending trendline which is the significant support point which would bring the price down to around $130.

XRP/USD

The price of Ripple has been hovering around the same levels over the weekend, unlike other major cryptos which experienced further increase although a minor increase was made of around 3.4% coming from Friday’s low at $0.3105 to $0.3208.

On the hourly chart, we can see that as the five-wave move the upside ended another minor increase has been made but only to around mid-range between the lower horizontal support level and the prior high level which could be viewed as correctional.

If the previous five-wave increase was the C wave of a lower degree fro the B wave of a higher, now the C wave of a Minute count is to develop to the downside.

If this happens the price of Ripple is set to go down to $0.29405 where the next significant horizontal support level is but that could only happen if the price is to continue the presumed ABC correction to the downside.

If the increase we have seen over the weekend isn’t correctional we could be seeing the start of an impulsive move to the upside in which case I would be looking for an interaction with the 0.3366 horizontal resistance level, but as the price broke both of its horizontal support levels prior to the current increase I believe that we are seeing the development of an impulsive move to the downside out of which the uprising was correctional.

Conclusion

The prices of the major cryptocurrencies have increased over the weekend and have gone past its prior high in some cases like in Bitcoin’s which could be an early indication that the price is headed further up for a retest of its upper resistance levels, but as the retest occurred and the price was stopped out again on the same levels now a movement to the downside would be expected.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,NEO,XRP): Mar 29, 2019

BTC/USD

From yesterday’s open at $4102 the price of Bitcoin fell to $4065 at its lowest point but started increasing from there and came up to $4185.2 where it’s currently sitting. The price is still in an upward trajectory so we could see a higher price today but as the price increased by around 6% from Monday on a minor uptrend I wouldn’t expect to see it go for much further.

Click to see the full-size image.

Looking at the hourly chart you can see that I have readjusted my count as to include today’s increase as the 5th wave as the previously labeled ending point of the 5th wave was only the end of the 3rd one.

As the price continued moving for another high impulsively I believe that the C wave from the Minuette ABC correction to the upside ended which means that the B wave from the Minute count ended as well.

As the B wave ended the C wave is expected to develop to the downside which is why now I would be expecting an immediate downfall below the 0.786 Fibonacci level which served as resistance and was broken today.

If my count is correct the C wave from the previous Minute ABC correction to the upside ended on the 0.786 Fibonacci level but this current increase could be the prolongation of that correction like we have seen after the Intermediate W wave ending on 24 of December last year after which a similar structure developed to the one after the second impulsive move to the upside ending on the 0.786 Fibo level.

If this is the prolongation of the mentioned correction the price is set to go to the most significant resistance level which would be around $4300 before we are to see the start of a down move.

But if the C wave ended as my primary count suggests this current increase would be only a minor correction inside the third corrective structure to the downside which already started developing.

ETH/USD

From yesterday’s low when the price of Ethereum was sitting at $139.58, we have seen an increase of 4.35% measured to the highest spike the price has been today which is at $145.65. The price came down fast as the hourly candle closed around $143.92 around which the price is currently being traded.

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On the hourly chart, you can see that the price broke out from the descending trendline on the upside, but has started showing signs of struggle below the prior high level which has been labeled as the ending point of the C wave, unlike in the case of Bitcoin were today’s increase exceeded the C wave’s ending point.

But as my primary count still remains the price is now most likely going to start moving the downside again and the peak above the resistance line inside the seller's territory just might be what the price needed in order for the selling to get triggered.

The increase looks five-wave-ish but the price is most likely been correcting in the B wave from the third corrective structure to the downside which is set to push the price of Ethereum lower to retest some of the significant support levels in which case the intersection between the 0.5 Fibonacci level and the ascending trendline would be expected as it is a zone of interested which already served as support and was strong enough to hold the momentum behind the initial sell-off made on 24th of February.

XRP/USD

From yesterday’s open at $0.31479 the price of Ripple has decreased by 1.77% at first coming to $0.30923 but then made another attempt for an increase only to end to around the same levels as before coming to $0.31479 again after which another decrease was made to $0.31042 around which the price is currently sitting.

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On the hourly chart, you can see that the price of Ripple unlike in the case of Bitcoin and Ethereum fell today, but is still following the general market movements which is why after this decrease ends I would be expecting another increase from here to around the levels from which the previous downfall was made around the 0.236 Fibonacci level which is in price terms around $0.325.

As this would be further correctional movement most likely the A wave from the ABC of a lower degree the B wave is set to develop fully from the Minute ABC to the downside which was likely started developing after the price interacted with the mentioned Fibo level, ending as rejection.

We are to see further sideways movement with more upside potential but ultimately as I would be expecting a decrease when it ends we could see the price of Ripple falling down below the 0.29404 level which serves as a significant support point.

If the price continues moving even lower than that the 0 Fibonacci point which is the beginning point of the correctional price movement might get retested, but if the price stars moving further up above the 0.236 Fibonacci level I would consider my projection invalidated.

NEO/USD

From Tuesday when the price of NEO was sitting at $8.65 at its lowest point we have seen an increase of over 11% for the price of NEO as it came up to $9.62 at its highest point today around which it is currently sitting.

Click to see the full-size image.

Zooming into the hourly chart, you can see my Elliott Wave labelings which point out that the X wave ended on a three-wave move. If this is true then the current increase would most likely be the B wave from the next, third correction to the downside which started after the X wave ended in which case the previous 12.71% move to the downside would be its first wave A.

We can also see the similarity in chart pattern with the A wave from the previous ascending three-wave move although of a higher degree with the current one. This could point out the validity of my count as well as the projection that is currently in play. According to my projection, the price is now heading for a small retracement below the 1 Fibonacci level potentially around the interrupted purple line which is the median line of the lower range at $9, before going back up above the 1 Fibonacci level but only as a corrective spike which would trigger another round of selling which would bring the price of NEO down to the ascending channels support level around $8.2

Conclusion

The prices of the major cryptos have continued increasing for a bit more but as this increase is most likely corrective and is near completion, over the weekend we are most likely to see the market in red as now an impulsive move to the downside is being awaited.

This weeks price breakdown:

  • BTC, ETH, LTC, and XRP Coin Analysis (March 25th)
  • Bitcoin, BCH, Ethereum, and XRP Price Prediction (March 26th)
  • BTC, ETH, EOS, and XRP Technical Analysis (March 27th)
  • Bitcoin, BCH, Ethereum, and Litecoin Price Prediction (March 28th)

Current Market Overlook:

Coin360 – Click to see the full-size image.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC,BCH): Mar 28, 2019

BTC/USD Price

From Monday’s low at $3946.5 the price of Bitcoin has increased by around 4% measured to the highest spike on today’s open when the price was $4104.

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On the hourly chart, we can see that the price of Bitcoin increased impulsively from yesterday which is most likely the C wave from a Subminuette ABC correction to the upside which started on Monday when the price fell to its significant support level at the ascending trendline intersection with the 0.618 Fibonacci level.

As the zone served as a strong support point an increase has been made after the interaction but as the increase looks corrective and especially considering that the price has been consolidating since the upswing ended I think that we are most likely to see the start of a downside movement now.

Previously, according to my count, a Minute ABC correction to the upside ended which was the second corrective structure after the price of Bitcoin ended its five-wave move to the upside reaching the area around $4130. This means that another third Minute correction has now started developing out of which the current increase would be its second wave.

If this is true then the price is now to start developing a five-wave move to the downside as the C wave should start which is why from here I would be expecting more downside for the price of Bitcoin to around the vicinity of the prior low at around 0.5 Fibonacci level or even lower to $3600 area if the move potentially being impulsive and no corrective.

ETH/USD Price

From Monday’s low at $133.8 the price of Ethereum has increased by 6.26% measured to today's opening price of $142.17 which is the highest price has been this week so far.

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On the hourly chart, you can see that the price of Ethereum came up above the broken ascending trendline and has been stopped out with the price action forming a cluster which by judging from the seller's pressure indicated by the wick from above is going to be its ending point.

With the price bearly making to the descending trendline which serves as resistance and has started to fall back, we have likely seen the ends of this minor upswing which was validated by the sub-wave count as I have counted five Subminuette waves which is why I believe that we have seen the development of a corrective wave before the next downtrend starts.

As previosly the ABC correction to the upside ended we are seeing the development of a third to the downside which could be another three-wave ABC move or a five-wave impulse wave. The price has moved in a five-wave manner until Monday after which the current upswing occurred and now that it has most likely ended or is near completion the start of a down move would be expected as the third wave should start developing.

The potential price target for the expected down move would be around the vicinity of the prior low at around $126.76 or if impulsive count continued moving even lower in which case the 0.382 Fibonacci level would serve as a significant support point.

An impulsive move is expected in either way as the C wave has five waves but if a trend continuation starts out of which the 24th February decrease of over 20% would be the initial wave the price of Ethereum is set to move even lower then projected.

LTC/USD Price

From last Thursday when the price of Litecoin around $61.58 we have seen sideways movement in a range between $62.5 which was the resistance level and $58.2 which was the support level. With the price currently sitting around $61.613 and has retested the horizontal resistance level of the mentioned sideways range on today's open.

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On the hourly chart, we can see that the price of Litecoin ended its five-wave to the upside and has formed a descending structure after. The price has today broken its resistance line but has been stopped out at the minor horizontal resistance level with the price currently being in a downward trajectory. As the price is still above the resistance zone I was expecting a retest of its significant level at $57.558 which hasn't occurred but the price fell close to it on Tuesday coming to $58.

This could indicate that the retested support was there as the price started increasing after and came up by 7.23% on the last increase. Considering that we have most likely seen the end of the five-wave impulse wave to the upside in an ending diagonal, we are most likely seeing the development of the now expected downside movement which could be either corrective if the Intermediate correction is to get prolonged or an impulsive move if the correction ended.

In either way, the increase we have seen ending on today's open was most likely corrective and would be viewed as such until the price exceeds the prior high at around $68.

BCH/USD Price

From Tuesday’s low at $153.3 which was the lowest price has been from the start of the week measured to the levels of today’s open of around $172.8 at its highest spike, we have seen an increase of 12.67%. The price has started moving to the downside after today’s opening and is currently in a downward trajectory sitting at $166.

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On the hourly chart, you can see that the price of Bitcoin Cash came up to the resistance level of the newly formed ascending channel in which it is consolidating after an increase of around 26.25% on the 3rd impulse wave.

We are most likely seeing the development of the 5th wave in an ending diagonal and considering that the price today came to the resistance levels of the current range and has started showing signs of weakness the price is now likely heading for a retracement back to its support levels which would start to intersect the horizontal resistance level at $155.9

The interaction with the mentioned horizontal resistance level is now expected as a retest of support if the price is to complete another upswing which would be the 5th wave. This upswing could very well end around the upper resistance zone at around $180 but after it ends I would be expecting another movement to the downside with strong momentum.

The prices have started showing their first signs of weakness as the upswing ended and we are most likely to see now the start of the expected downtrend or a minor correction before another higher high which would be the final one before the expected downtrend starts.

Cryptocurrency market has been mostly moving sideways from 25th of February and slightly to the upside which looks corrective so after this last increase ends I would be expecting a decisive move the to the downside stronger than the one seen on 24th of February.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,EOS): Mar 27, 2019

BTC/USD Price Watch

From yesterday’s $3951, the price of Bitcoin increased by 3.73% today as it came up to $4098 at its highest point. The price has been increasing impulsively with more room to go before the upswing ends and as the price has retraced slightly and is currently sitting at $4082 we could soon see another higher high today.

Click to see the full-size image.

On the hourly chart, you can see that the price action looks impulsive as the price increased parabolically to the upside in a five-wave manner which hasn’t ended which is why another interaction with the 0.786 Fibonacci level could occur before it ends.

The price is again above the horizontal resistance at $3994.4 which is a good sign and has come up above the previously seen sideways correction which ended on a breakout to the downside. This could indicate further price recovery but we are to see the potential behind the increase as we could be seeing the start of another corrective movement after the price of Bitcoin previously came down by 4.31%.

If we are seeing the start of another corrective structure this five-wave movement would be its first wave which means that we could see the price spiking even further to the upside on the C wave, potentially breaking the resistance around the 0.786 Fibonacci level.

But as this would be another retest of the above resistance it could very well be the 5th wave of five-wave correction instead of a three-wave ABC.

In either way, since we have seen the end of the upward ABC correction I am expecting more downside from here so after this increase ends another movement to the downside with strong momentum would be expected.

ETH/USD Price Watch

From yesterday’s low at $134 the price of Ethereum has increased by 5.18% as it came up to around $141. The price is still in an upward trajectory, currently sitting slightly lower than the highest point.

Click to see the full-size image.

On the hourly chart, you can see that the price of Ethereum made a recovery above the minor ascending trendline which served as support and was formed by the last ABC correction to the upside, and now that the price is in an upward trajectory we are most likely to see a retest of the descending trendline which serves as a significant resistance point.

The price is now heading toward the mentioned resistance but a rejection is awaited as we are most likely seeing the B wave developing for the next ABC correction that started after the previous interaction ended as a rejection which makes the possibility of the projected scenario more likely as this already happened recently.

If the price of Ethereum is to continue moving above it I would be looking at the 0.786 Fibonacci level which would be around $151 and as it wasn’t retested by the sideways correctional structure after the initial drop on 24th of February we could very well see a retest before the expected impulsive move to the downside starts.

XRP/USD Price Watch

Yesterday the price of Ripple fell down below the $0.3 as it came down by 4.21% to $0.29868 at its lowest point but since, started to increase again and has surpassed the level from which the 4.21% decrease was made as it came up to $0.315 at its highest spike today.

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The price of Ripple has come up to the broken lower horizontal support level and is retesting it now for resistance. As I see five waves this could be the end of this current upswing and especially considering the interaction with the broken support for the resistance.

If the price starts declining from here which I think is now highly likely for the reasons stated an interaction with the horizontal support level at $0.29405 would be expected before the end of the breakout to the downside but if we have seen the end of the downward move this increase could be the corrective B wave of a higher degree which would mean that another five-wave move to the downside would be expected after it ends.

The price of Ripple is now heading for a downtrend as the interaction with the current resistance would end as a rejection but another increase above it could also be a possibility in which case the price could go for a retest of the 0.236 Fibonacci level at $0.32504 which was more significant than the current support levels.

Looking at the momentum I don’t believe that’s likely as the price of Ripple has broken out from the upper range and is now heading towards some of the significant support levels below for the establishment of support.

EOS/USD Price Watch

In the last 24 hours, the price of EOS has increased by 14.34% from yesterday's low at $3.6467 to its highest point today at $4.1673. The price has retraced since and is currently sitting around $4.099. As the price of EOS was in a correction after a decrease of over 23% seen on 24th of February we could now be seeing the end of the second corrective structure to the upside.

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On the hourly chart, you can see that a minor symmetrical triangle was broken out off but the price was stooped out at the 0.618 Fibonacci level which serves as resistance. This could indicate that the momentum behind the increase isn't as strong as initially seen.

The price of EOS was been moving sideways after the initial drop was made which has been labeled as two consecutive three-wave corrections and now that the price came up to its significant resistance level and has been stopped out there with clear signs of struggle (as indicated by the wick from above) the second ABC correction to the upside has most likely ended.

We have seen the price of EOS establishing support around the 0.5 Fibonacci level at $3.66 which is why it is most likely going to serve as strong support level again on the way down but if we are to see another third correction to the downside now starting to develop it would very likely be broken especially if we are to see an impulsive decrease.

The downside is expected from here as the price prior to the sideways correction came up by over 101% in a five-wave manner. Considering that after that increase ended we have seen a decrease of around 23% after which this sideways action occurred with now price increasing to its significant resistance we have been most likely seeing the start of the retracement out of which the current increase would be the second wave out of a higher degree movement to the downside.

The cryptocurrency market has started increasing today with the prices of major cryptos showing bullish price action. This is most likely corrective as the prices have previous to the increase interacted with their significant resistance levels and were rejected setting them for a breakout to the downside.

Buy the looks of the current wave structures seen on the charts of the analyzed cryptos the increase has ended which is why now we could see either a minor retracement before another increase of the same momentum after which the expected move to the downside is to develop, or the end of the corrective wave B which means that now we are to see the start of the five-wave move to the downside as the wave C would develop.

Green Crypto Market:

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This weeks Technical Analysis:

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): Mar 26, 2019

The prices of the major cryptocurrencies have started decreasing yesterday and have either finished their minor downward trajectory yesterday or today, which is why now we are seeing the interacted support levels being retested again.

We are most likely to see a corrective increase today or at least some consolidative patterns after the next downfall starts as the cryptocurrency market has started its retracement after a bullish period. This retracement could be the beginning of the downtrend of a higher degree but since in either way more downside is expected from here, from its depth and the momentum behind the sell-off, we are to see what the potential behind the decrease would be.

BTC/USD

From yesterday when the price of Bitcoin was sitting at $4050 around the open we have seen a decrease of around 2.74% today as the price fell to $3939.6 at its lowest point.

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On the hourly chart, you can see that the price of Bitcoin broke down below the ascending trendline which was the minor trendline from 4th of March and retested it from the downside for resistance last Saturday which cause the price to start moving in a downward trajectory once more.

As the price continued its downward trajectory over the weekend, yesterday we saw another impulsive decrease down to the next ascending trendline intersection with the 0.618 Fibonacci level at $3936 which serves as a support point. Now that the price found some temporary support there. It is struggling to make a recovery as it looks from the last couple of hourly candles. The price fell below the falling wedge resistance line again so this movement around it couldn’t be interpreted as a breakout and is more like a retest of the descending resistance from both sides.

As the price of Bitcoin previously ended its ABC correction to the upside a downtrend was expected, but we are yet to see if the price starts moving impulsively to the downside further now as we are most likely seeing the start of the third correction to the downside.

ETH/USD

From yesterday’s high at $ 138.2 the price of Ethereum has decreased by slightly below 4% as it fell to $132.68 at its lowest spike yesterday. Today the price of Ethreum came up to around $136.17 at its highest point but since then started decreasing again and came down to around $133.94 yesterday at its lowest point which is a higher low compared to the yesterday’s one.

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On the hourly chart, you can see that the price of Ethereum fell below the 0.618 Fibonacci level which served as support and but since a large wick from the downside of the last hourly candle occurred indicating buying pressure we are likely to see the price again above the Fibonacci level or at least a retest of it for resistance.

The price fell to the level of last Thursday's low which was the impulsive move to the downside after a corrective increase which has been labeled as a C wave of the ABC correction to the downside after the C wave of a Minute degree to the upside ended.

As we are most likely seeing the start of another structure to the downside out of which the current wave structure would be the first wave of a higher degree, more downside would be expected from here. But first, we are most likely going to see a retest of the broken horizontal support level or even a quick peek above it which would trigger another round of selling.

I was expecting an interaction with the 0.786 Fibonacci level for the ending point of the C wave which could still occur if we are seeing the 4th wave prolongation but as the price decreased impulsively on Thursday last week I don’t believe that’s likely.

More likely we are seeing the start of another impulsive decrease to the downside which is a continuation of the initial decrease made on 24th of February when the price of Ethereum fell by over 20% in one go.

XRP/USD

From yesterday’s open when the price of Ripple was $0.31185 which was the highest point, we have seen a decrease of 3.73% measured to the lowest spike price has been today which was at around $0.3.

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Looking at the hourly chart, you can see that the price spike above the 0.236 Fibonacci level. It served as resistance, but after entering the seller’s territory we have seen the price starting to move to the downside with strong momentum as the price fell by around 5.17% from Wednesday to Thursdays low breaking the lower ascending trendline which served as support.

As the ascending trendline got broken a retest for resistance has been made confirming that the level now serves as resistance which was indicated by the rejection around $0.3168 where the intersection with the horizontal support also was.

The price is currently sitting below the minor horizontal support level from the prior range around its median line. Hence, considering the momentum shown I don’t believe that it is going to hold for much longer as its significance is low. Most likely we are going to see another downfall to the most significant support level to the downside which would be either around the $0.29405 or even lower to $0.28528.

BCH/USD

From Saturday’s high when the price of Bitcoin Cash was $168.7, we have seen a decrease of 9.56% as the price fell to $152.6 at its lowest point today.

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On the hourly chart, you can see that the price of Bitcoin Cash fell below the horizontal resistance level at $155.9 today which served as support but considering that the price fell to the support level of the ascending channel for a quick interaction that ended as a bounce we can’t say that the price has entered its lower range.

As the price previously ended its five-wave move to the upside another five-wave move to the downside developed and as it is now over or near completion we are most likely going to see another increase which would retest the broken resistance level or exceeding it slightly before a proper breakout to the downside is to be made.

The movement to the downside is now expected as the price of Bitcoin Cash ended two impulsive Minute impulse waves to the upside so either we are going to see a retracement or the start of the downtrend.

If the price starts increasing from here we are most likely going to see the price retesting the resistance level at $155.9 or even going back to the upper ascending trendline from the newly formed channel before the movement to the downside starts.

Crypto Market Update:

Coin360 – Click to see the full-size image.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): Mar 25, 2019

Over the weekend we have seen the price broke their minor support levels which got retested on Saturday. This retest ended as rejection which is why the prices have continued moving to the downside.

This could serve as an early indication of the start of the expected downtrend for the cryptocurrency market after the corrective upswing ended, or is more corrective movement before the upswing ends on a one more higher high.

In either way, soon a downtrend is to be expected as the prices have most likely ended their recovery period.

BTC/USD

From Friday when the price of Bitcoin was $4063, we have seen the sideways movement as the price increased to $4082 at its highest point on Saturday from where another minor downtrend has started which caused the price moving to $4010 at its lowest point yesterday.

Currently, the cryptocurrency is being traded at $4030 and is in a downward trajectory.

On the hourly chart, you can see that the price of Bitcoin is retesting the minor horizontal level for support around the vicinity of the A wave’s ending point slightly higher than the horizontal support/resistance at $3994.4 and is still above the falling wedge resistance line.

The ascending trendline from the start of the wave A has been broken last Thursday and was retested on a minor uptrend but since the interaction ended as a rejection, over the weekend we have seen the price starting a minor downtrend.

Now that the price is in a downward trajectory again and is getting close to the weekends low at around $4020 we could expect to see more downside as the price is most likely going to look out for support around those levels and potentially going even further below for the establishment of support around the $3994.4 level.

If the price ended its Minuette 5th wave that would mean that the C wave from the upward correction has ended, but if the 4th wave as a corrective wave got prolonged we are seeing the development of the third correction of a lower degree which is set to retest the support around the vicinity of the 1st wave’s ending point before continuing another increase as the 5th wave should start developing and could come to the ascending triangle’s resistance level at around $4212 before we are to see the start of a move to the downside.

ETH/USD

From Friday’s low at $136.78 we have seen an increase at first over the weekend as the price of Ethreum came up to around $140.41 at its highest point on Saturday but since then started decreasing again and came down to around $137 today where it is currently being traded.

On the hourly chart, you can see that the price of Ethereum broke out from the last descending triangle to the downside but found support around the 0.618 Fibonacci level. As the price action formed two consecutive corrections we could be seeing the start of the third structure which would be to the downside as previously the upward ABC correction ended.

I was expecting an interaction with the 0.786 Fibonacci level for the ending point of the C wave which could still occur if we are seeing the 4th wave prolongation buy as the price decreased impulsively on Thursday last week I don’t believe that’s likely.

More likely we are seeing the start of another impulsive decrease to the downside which is a continuation of the initial decrease made on 24th of February when the price of Ethereum fell by over 20% in one go.

After this initial decrease, the price action formed an ABC correction to the upside which could be the second wave out of the five-wave impulse of a higher degree. The other possibility is that the price action is going to form another third correction if what I referred to the initial decrease was corrective in nature and not impulsive so in either way I would be expecting more downside from here as the price of Ethereum has increased by over 61% previous to the mentioned corrective structures and has now come down about half of the increase made.

As the price usually retraces back by around 70% after an impulsive move – if the retracement is corrective I am expecting another movement to the downside below the 0.618 Fibonacci level potentially to the 0.5 Fibonacci level for an interaction. But if the price is to continue its downtrend after the corrective movement to the upside ended further lows would most likely develop.

XRP/USD

On Friday the price of Ripple was $0.31688 at its highest point from where the price decreased to $0.31347 on Saturday but came back to the levels of the Fridays high on the same day as the horizontal resistance level got retested again.

The retest ended as a rejection which caused the price to start moving in a downward trajectory and came down to $0.30836 at its lowest point today.

On the hourly chart, we can see that the price of Ripple broke out from the lower ascending trendline which served as support, retested it the the horizontal support level of the prior range before continuing to move to the downside. This indicates that the price of Ripple is now most likely heading down for further lows as the ascending structure that was broken over the weekends was most likely the 4th wave of a higher degree like presumed.

This means that another 5th wave should start developing to the downside, and considering that the ascending structure’s support got broken we could very well be seeing the start of that 5th wave. Interaction with the horizontal support level at $0.3058 is now expected but if we are seeing the development of the 5th wave the price is set to fairly lower then the mentioned horizontal support, to at least the vicinity of the 3rd wave’s ending point which is at around $0.28528 where the 0 Fibonacci level is.

LTC/USD

From last Monday, March 18th, when the price of Litecoin was $64.287 at the open which was the highest point since the beginning of the year, measured to the current level on which the crypto is sitting at $60.1 we have seen a decrease of 6.53%.

The price came down lower last week as it was being traded at around $59 at its lowest on Thursday but from there made a recovery to around $62.45 before the start of the minor downtrend on Saturday.

On the hourly chart, you can see that the price of Litecoin came up to the ascending trendline which is the resistance line of an ending diagonal seen on a higher time-frame and as it encountered resistance there on the spike which interacted with the level last Monday another descending structure started forming as the interaction ended as a rejection.

The price is currently around the horizontal support level of the current range which was the resistance level of the previous one and is retesting it for support. As the price went below it last week and stayed there for some time the level isn’t as significant which is why another downfall below it would be likely.

As the price retested the descending structure’s resistance line on Saturday another minor downtrend has started and judging by the wave structure the first five-wave move has ended or is near completion which is why now another retest could be likely which would be a corrective three-wave move to around $61.4 before another five-wave move to the downside starts.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): Mar 22, 2019

  • Cryptocurrency market has experienced a decrease in the last 24hours which looks more decisive than the previous upward movement and has shown strong momentum which is why I believe we are most likely seeing the start of the trend continues to the downside.
  • The prices are increasing today but the increase looks corrective which is why when some of the broken support levels get retested I would expect to see another impulsive move like yesterday.

BTC/USD

From yesterday’s open at $4136 the price of Bitcoin has been decreasing and fell by 3.2% at first coming to $4004 at its lowest point yesterday but has managed to recover from there and is currently sitting at $4046.2.

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On the hourly chart, we can see that the price of Bitcoin again made it out from the territory of the falling wedge as the price is again above its resistance line which was retested on a minor downtrend today, but we still cannot say that the price definitely started breaking out because of the vicinity of the level.

As the price fell steeply and aggressively we could see another downfall from here as this minor increase could be corrective in nature. It is worth mentioning that the falling wedge resistance level although significant wasn’t well respected in the past as the price moved above it numerous times since its formation which is why the price moving above it isn’t indicative of a potential start of another uptrend.

The interaction more indicates that the resistance is still around those levels so until we see the price higher than the 0.786 Fibonacci level I wouldn’t be looking at a bullish scenario. Most likely we are seeing the start of the next structure to the downside which could either be the third impulse wave or more likely the third correctional structure which could also move to the downside in a five-wave manner.

As the price fell yesterday below the descending triangle’s support level and hasn’t exceeded the prior high at the 0.786 Fibonacci level it looks like the sellers are starting to gain control which is why I think that the price isn’t going higher any more before the expected downward movement starts as I think it started yesterday.

ETH/USD

From yesterday’s high at $142.55 the price of Ethereum has been decreasing and came down by 5.26% at its lowest point yesterday at $135.05. The price is currently sitting slightly higher at $139 level as its un an upward trajectory again.

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Looking at the hourly chart you can see that I was expecting another increase to the vicinity of the prior high like happened in the case of Bitcoin as the price of Ethereum started breaking out from the descending triangle on the upside.

The breakout ended as a fakeout as the price started plummeting down fast and came below the 0.618 Fibonacci level which serves as a support. Considering the momentum shown yesterday which whipped out all the gains made from last week I don’t believe that the price is heading up for interaction with the 0.786 Fibonacci level as expected.

The seen downside movement could be the prolongation of the Minuette 4th wave but it doesn't look like it as the price moved impulsively to the downside, which is why I think that we are seeing the start of the next wave structure.

This could be a third Minute correction so another three-wave move to the downside would be expected but it could very well be a five-wave move as the price of Ethereum ended its upward correction which is why we could see an impulsive move to the downside developing which would be a continuation of the initial decrease made on 24th of February when the price of Ethereum dropped by over 19% on one day.

XRP/USD

From yesterday’s highest point at around $0.33 the price of Ripple has decreased by 6.4% coming to $0.3086 at its lowest point yesterday moving to the downisde aggresivellly like we have seen in the case of Bitcoin and Ethereum.

The price has managed to recover since yesterday and is currently being traded at $0.31603 level.

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On the hourly chart, you can see that I was expecting an increase yesterday if the price was to complete its Z wave to the upside but the price fell below its second ascending trendline which serves as a support and is currently retesting it from the downside for resistance.

The price action on the Ripple’s chart is choppy which makes it hard to count the waves, but as we have seen the end of the ABC to the upside a downside move was expected but I believed that the retest of the lower support isn’t going to happen as the price interacted with the upper support level and was staying there respectfully.

Now that the price most likely ended the correction inside the ascending structure we are most likely seeing the start of the impulsive move the downside which could result in the price going to $0.294 which is the most significant horizontal support point to the downside.

If the price continues increasing from here as its un an upward trajectory today, I would be looking at the retest of the upper ascending trendline for its ending point which would bring the price of Ripple back to around $0.32 levels.

BCH/USD

From yesterday’s high at $158.7 the price of Bitcoin cash has fallen by around 7.35% coming to $147.1 at its lowest point yesterday. Since then the price made a recovery and is currently sitting at $157.8 above the horizontal resistance level and is un an upward trajectory.

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Looking at the hourly chart, you can see that the price of Bitcoin Cash ended its five-wave move to the upside which was the third wave from the correction to the upside. Since the descending triangle was formed a breakout to the downside was expected and the price started moving above the triangle’s resistance level at first but later ended as a fakeout with the price starting to plummet down below the significant resistance level which served as support.

Now that the price is in an upward trajectory we are most likely seeing a corrective minor three-wave correction which appears to be near completion, so after this minor increase ends I would be expecting the start of another impulsive move to the downside.

If we have seen the end of the second Minute correction now we are most likely seeing the start of the third structure to the downside. If impulsive the price of Bitcoin Cash could go down below the previous horizontal support at $135.3 depending on the momentum behind the sell-off.

If we are seeing the development of the third consecutive correction the price could end its downward trajectory higher which will depend on the momentum.

Crypto Market Update:

Coin360 – Click to see the full size image.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,XRP,BCH): Mar 21, 2019

Get today's latest bitcoin price prediction along with Ethereum, Ripple and Bitcoin Cash chart value analysis along with real-time live prices and insights.

Bitcoin Price Analysis (BTC/USD)

From yesterday’s low at $4074 the price of Bitcoin has increased by 1.63% as it came up to $4140 at its highest point today, around which it is currently sitting.

On the 15-min chart, you can see that the price of Bitcoin continued moving to the upside after the price retested the falling wedge resistance line for support and came slightly above the 0.786 Fibonacci level at the vicinity of the prior high.

The BTC/USD price hasn’t stayed above the Fibonacci level for much longer as it entered the sellers’ territory and immediately came below it to $4101 at its lowest spike today but is currently again above the Fibonacci level sitting around $4134.

As the BTC price started entering the seller's territory again I would expect a downfall again below it like we have seen the last time. The wave structure looks more corrective then impulsive which is why I still believe that we aren’t going to see much further upside if any.

If we have seen the completion of the 4th Minuette wave inside the triangle, now we are seeing the final 5th wave which could end around the vicinity of the 3rd wave’s ending point, especially if it’s corrective in nature for Bitcoin.

We could see an increase of around 2-4% as there are other significant resistance points above the price which could be retested before the down move starts but judging by the current momentum I don’t believe that the price is heading up for much longer.

Ethereum Price Analysis (ETH/USD)

From yesterday’s low at $139 the price of Ethereum has increased by 2.56% today as it came up to $142.66 to its highest point. The price is currently slightly lower and is sitting at around $141.90.

On the 15 min chart, you can see that the price of Ethereum broke out from the descending triangle on the upside and managed to exceed the previous minor high but with small momentum.

As we have most likely seen the completion of the 4th Minuette wave inside the descending triangle we are seeing the start of the 5th wave to the upside. Looking at the presumed 2nd Minuette wave out of the five-wave impulse we can see the resemblance in structure.

You can see that the yellow area was a double minor bottom which retested its lower support from the range in which it was correcting much like it was recently when the price action showed a similar behavior inside the descending triangle.

Now, most likely the first wave out of the 5th wave to the upside has started as indicated by the red fractal from the 2nd wave. The price is set to exceed the 3rd wave’s ending point but is still unclear where the potential target could be, but if we are to see an interaction with the 0.786 Fibonacci level, we are going to see the price around $151.7.

This five-wave impulse to the upside would be the C wave according to my count which means that when it ends I would be expecting the start of a move to the downside as a trend continuation or the third correction after the price of Ethreum recovered by over 64% until 24th of February.

Ripple XRP/USD

From yesterday’s low at $0.31897 the price of Ripple has increased by 2.37% to its highest point today when the price was being traded at $0.32652.

On the hourly chart, you can see that the price of Ripple has started moving to the upside from yesterday’s interaction with the ascending trendline which served as support and has managed to go above the 0.236 Fibonacci level but came back below it on a minor retracement.

As the price ended another ABC correction to the upside a three wave move the ascending trendline was made after which now we are seeing most likely the start of another upward movement which could be the start of a five-wave move to the upside.

A breakout above the 0.236 Fibonacci level is expected as the Minor Z wave to the upside should start developing but it is still unclear whether the price is potentially heading for a downside move at first as the ABC to the upside ended.

The price of XRP coin has been moving to the upside in an ascending channel which looks corrective in nature but with the sellers being around the same levels at the Fibonacci level the resistance would soon be diminished as the buyers are constantly putting pressure on the level.

If a breakout to the upside occurs I would be looking at the horizontal resistance level at $0.3366 for its the ending point of the increase or the next Fibonacci level at $0.34964, but if the price gets rejected by the resistance found at the 0.236 Fibonacci level I would be looking at a retest of a lower ascending trendline for support at around $0.3144

Bitcoin Cash BCH/USD

From yesterday’s low at $154.7 the price of Bitcoin Cash has been moving to the upside and has made an increase of 2.69% measured to its highest point today at $158.9. The cryptocurrency is currently being traded at around $158, slightly lower than today’s high but is still sitting around those levels, putting pressure at the resistance above.

On the 15-min chart, we can see that the price action completed an ABCDE correction inside the descending triangle and started to break out from the structure which could be an early sign of another increase ahead but the price didn’t come above the prior minor as it encountered strong resistance at the upper horizontal range support now serving as resistance.

The price still above the horizontal support at $155.9 which is a good sign and considering that we have seen a Subminuette five-wave move, this ABCDE could be the correction of the higher degree move which is according to my count the wave C from the ABC correction to the upside and is the wave Y from a higher degree Minute correction.

This means that after potentially one more increase the price heading in a downtrend as this upswing is corrective in nature. The price could go higher than projected around $180 area where the resistance zone’s lower level is but we are yet to see from the momentum ahead.

This Week's Latest Crypto Coin Price Analysis

Author: Nikola L


 

Crypto Price Analysis: (BTC,ETH,XRP,BCH): Mar 20, 2019

Bitcoin BTC/USD Price Watch

From yesterday’s low at $4061 the price of Bitcoin has increased by 1.05% today as its currently being traded at $4104.

Click to see the full-size image.

On the hourly chart, you can see that the price of Bitcoin started breaking out from the upside as off of the descending triangle and past the falling wedge resistance line which was retested today and proved to serve as support as indicated by a large green hourly candle that followed after a red one that tested the level.

This could be an early sign that the price of Bitcoin will continue moving to the upside as the 5th Minuette wave would develop.

I was expecting a breakout to the downside at first for the price to retest the horizontal level at $3994.4 for support on the 4th wave but now it looks like the 4th Minuette wave has ended inside the descending triangle.

The price could go up to the ascending triangle’s resistance which is the next significant resistance point to the upside and is the triangle formed by the Intermediate correction so a retest of its resistance level would be an optimal scenario.

If that happens we are to see the price of Bitcoin at around $4210 before this corrective upswing ends, but we could see the 5th wave ending lower, around the 0.786 Fibonacci level which is slightly higher then the 3rd wave’s ending point excluding the wicks.

We could also see the price higher than the resistance point around the ascending triangle’s upper trendline as the most significant resistance point around $4300 is the horizontal resistance zone above.

Ethereum ETH/USD Price Watch

On yesterday’s open the price of Ethereum was $140.59 from where we have seen sideways movement until today when the price decreased to $138.88.

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As the price fell below the horizontal support level of the descending triangle formed by the price action I was expecting an interaction with the 0.618 Fibonacci level for a retest of support but instead, the price started increasing again and is currently above the $140.91 level from where the decrease was made.

We are yet to see how the price will behave now as it reached its minor horizontal resistance but considering the momentum shown in the last couple of hours I believe that we are going to see a breakout to the upside from the descending triangle.

This would mean that the price is heading for another higher high which could be to the next Fibonacci level to the upside which would in price terms be around $151.74. This would be the final increase according to my count as this upward movement is correctional which means that when it ends more downside would be expected.

This would be the Minute WXY correction to the upside and more downside would be expected since it is most likely the sub-wave of a higher degree move to the downside after the Intermediate WXY to the upside ended.

If this is true then the current upswing could exceed the higher degree high at $170 which would be the invalidation level.

Ripple XRP/USD Price Watch

From yesterday’s open when the price of Ripple was $0.32155 we have seen a decrease to $0.31950 after which an increase occurred to $0.32378, slightly higher than on the open but an immediate decrease below the minor horizontal level as the price came down to $0.31790 at its lowest spike today.

Click to see the full-size image.

On the hourly chart, you can see that the price of Ripple moved sideways around the first ascending trendline which serves as support but has gone below it today which could be the early sign of weakness. The price managed to recover quickly and is currently above it and as we have seen on the Bitcoin’s and Ethereum’s chart we could see this quick dip triggering buyers which would result in an impulsive increase above the 0.236 Fibonacci level again.

The choppy price action makes it hard to count the waves so we could have seen the end of the expected C wave as I’ve counted five sub-waves but we could very well see another increase even as a corrective one after the price fell below the Fibonacci level.

In either way when the C wave ends I would be expecting a move to the downside as the Minute WXY correction to the upside would end according to my count. First, we could see the price come up to around $0.3366 horizontal resistance level as the C wave could have some more room to go or even retest the prior high at $0.349649.

Bitcoin Cash BCH/USD Price Watch

From yesterday’s open at $160.5, measured to the lowest the price has been today which is at $153.4 we have seen a decrease of 4.43%. Since the price came down to the levels of today’s lowest another increase has been made but only to $158.8 before we have seen first signs of weakness.

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On the hourly chart, you can see that the last hourly candle is currently a hammer as a large wick from the upside appeared and considering that the price is currently above the prior higher high and has ended its three wave correction to the upside I believe that now a move to the downside would start developing.

This move to the downside might be correctional before one more higher high if my count is incorrect or the start of the third correctional structure to the downside if my count is correct.

According to my count, this was the second corrective structure after the increase to the upside ended around the $155.9 level which would be the B wave of a higher degree ABC or an WXY depending on the complexity of the correction. So if this is true now the third wave is to be expected to the downside below the horizontal resistance level at $135.3 and even further low if the price is to move impulsively.

Another alternative scenario would be that the increase above the prior high at $155.9 was the third wave of another impulsive move that started as the Minute WXY correction ended (green) in which case another 5th wave to the upside would develop. In that case, the price could increase to around $180 where the resistance zone above is.

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This weeks price watch:

  • Bitcoin and Top Altcoin Price Analysis: BTC, ETH, XRP, BCH Value Forecasts (Mar 18)
  • Analysis for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and BCH (Mar 19)

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC,BCH): Mar 19, 2019

Bitcoin BTC/USD Price

From yesterday’s open at $4068 the price of Bitcoin increased at first by 1.23% coming to $4119 but since it came up to those levels slightly lower than the Saturday’s high an immediate downfall occurred to the same levels as it did after the Saturday's decreased ended at around $4050 area.

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The price is currently again in an upward trajectory sitting at around $4080 close to the falling wedge resistance line. On the hourly chart, you can see that the price action created a descending triangle after the increase has been made on Saturday when the price came up to its significant resistance zone at the intersection between the 0.786 Fibo level and the falling wedge resistance line.

Now that a minor retracement occurred we are to see if the price is to continue moving to the upside for interaction with the upper resistance zone at around $4200-4300 in which case strong momentum will be needed to break out from the current resistance zone.

Considering that this increase made is most likely corrective according to my count I doubt that we are going to see the needed momentum for the price to continue its upward trajectory. Most likely as the price has found itself in a strong resistance zone and has formed a descending triangle we are to see a breakout to the downside from here after further interaction.

When this Minute Y wave ends and it looks like it could have ended we are going to see an impulsive movement to the downside as we did on 24th of February in which case the price of Bitcoin would decrease significantly from these levels back to around $3600.

Ethereum ETH/USD Price

From yesterday’s high at $144.83 the price of Ethereum has fallen by 4.41% at its lowest point yesterday but started increasing from there again and is currently sitting at $141.23.

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Like in the case of Bitcoin, Ethereum’s price action has created a descending triangle whose support line is the horizontal resistance level which was broken on the way up and now serves as a support. As the interaction with the 0.786 Fibonacci level was expected for the completion of the Y wave we could see further increase especially if the correction ends if a five-wave move instead of the projected three-wave.

As the price is above the 0.618 Fibonacci level which serves as the support we could see a breakout to the downside from the current descending triangle for a retest of support before further upside movement but considering that this three-wave upswing is most likely corrective when it ends I would be expecting that the price of Ethereum continues its downward trajectory which started on 24th of February after a five-wave impulse to the upside ended.

The price is looking like it could move impulsively to the upside as from 4th of March when the interaction with the 0.5 Fibonacci level was made we could be seeing the development of the uptrend. This isn’t very likely considering that after the five-wave impulsive move to the upside ended we have seen an impulsive decrease of 19.72% as the price of Ethereum fell from $168.5 to $135.21 which is why after this three-wave correction to the upside ends I would be expecting a continuation to the downside.

If the price starts decreasing from here I would be expecting a breakout from the current range to the downside below the 0.5 Fibonacci level which is at $126.76

Ripple XRP/USD Price

From yesterday’s high at around $0.321 the price of Ripple has decreased by 2.26% to its lowest point today at $0.31957. Since then the price has started increasing again and is currently sitting at $0.32158 which is around the horizontal support level from the prior range and is now serving as resistance.

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Looking at the hourly chart you can see that the price of Ripple came down to the upper ascending trendline which is the baseline support from the current corrective structure as it encountered resistance.

Now as the support level gets retested we are going to see if the price finds support there or continues moving to the downside to its lower support level. If this occurs the price of Ripple would come down to around $0.3145 but as we are currently seeing the interaction resulting in a slight increase the support will most likely be there.

The price hasn’t come up to the projected target level at $0.3366 so we could see further increase from here but as this increase is correctional when it ends I would be expecting a breakout to the downside.

As previously the price of Ripple experienced an impulsive five-wave increase a correction to the downside started and the price fell down by 13.64% in one go which was an indication of the start of the trend continuation.

The current corrective structure to the upside could be the second wave out of the five-wave impulse to the downside so a third wave should start developing soon. This could be the third correctional structure if the Intermediate correction got prolonged by two more waves so in either way I would be expecting a movement to the downside after this increase ends.

Litecoin LTC/USD Price

From yesterday’s high at $64.1 the price of Litecoin has fallen by 6.63% today measured to the lowest point at $59.855. The price is currently sitting at $60.484 slightly higher than today's low and is trying to establish support on the prior horizontal range resistance line.

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Looking at the hourly chart you can see that the price of Litecoin came up above the resistance zone once more and to the upper ascending trendline which serves as resistance. This trendline is the resistance from the expanding diagonal which was the 5th wave ending point according to my count but now that another interaction has been made I believe that the structure has developed fully.

Now that we have seen the interaction with the price’s most upper resistance point we are most likely going to see the start of a downtrend as the price of Litecoin increased by 176% in the last 91 days.

The price came up above the resistance zone but I don’t believe that it will stay there for much longer as it has entered the seller's territory so another round of selling would soon get triggered.

The first area which serves as support would be the lower horizontal levels of the resistance zone which is at around $50 level but if we are to see the start of the trend continues to the downside the price will fall further down below those levels.

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Author: Nikola L


 

Crypto Price Analysis: (BTC,ETH,XRP,BCH): Mar 18, 2019

Bitcoin BTC/USD

From Friday’s low at $3948 the price of Bitcoin has increased by 5.32% at its highest point over the weekend as it came up to around $4166 level on Saturday. From there the price pulled back to the around $4050 where the minor horizontal support level is and attempted to surpass the prior high but failed to do so today as it came lower to $4122.7 at its highest point.

The price is currently sitting slightly above the mentioned minor horizontal level as its currently being traded at $4063 but since the price came up to its significant resistance zone and has interacted with the falling wedge resistance line the start of a downtrend is expected from here.

The increase that occurred over the weekend was corrective in nature according to my count and was expected as the Y wave from the second Minute correction so the price is most likely heading down from here as the Y wave developed.

If my count is correct we have seen the completion of the second corrective structure after the impulsive increase ended on the 24th of February which is the prolongation of the Intermediate WXY correction as the second wave X.

We could be seeing the development of the five-wave move to the downside out of which the first Minute correction would be the first wave and the now seen increase would be the second corrective wave which means that now a third most stronger one would soon start developing to the downside.

The price could continue its upward trajectory before the third wave structure starts developing in which case I would expect to see an interaction with the upper resistance levels at first to the ascending triangle’s resistance or to the horizontal resistance at $4300 which is the most upper resistance point once serving as support.

Ethereum ETH/USD

From Friday’s open at $134.6 the price of Ethreum has increased by 9.61% on Saturday as it came up to $147.52 at its highest point. As the price pulled back to the $140.53 level from there another attempt has been made for the price to keep up its upward trajectory but the attempt ended as a lower high which is an early indication of the start of the downtrend.

Looking at the hourly chart we can see that the price came above the 0.618 Fibonacci level as the momentum behind the upward move was strong but not strong enough for interaction with the upper Fibonacci level at 0.786 which was expected.

Instead, the price came slightly above the previous structure before the start of a pullback which is why we are yet to see if the price reaches the expected price target, but by looking at the current structure I believe that the expected Y wave has ended.

This was the second three-wave correction according to my count as the price previously increased impulsively so now that it has most likely ended a move to the downside would be expected.

There is some more room to the upside like in the case of Bitcoin before the expected downtrend starts, but the current wave structure implies that the expected downtrend might already start as the price action created its first lower highs and lower lows.

This might be only a slight pullback before another increase which we are yet to see but depending on the support levels that are currently below the price and the strength behind them we are going to see the potential behind the down move as my projected scenario would bring the price of Ethereum down to its optimal support level at around $122.1.

Ripple XRP/USD

From Friday’s low at $0.31658 the price of Ripple has increased by 4.19% on Saturday as it came up to $0.32984 at its highest point. Since then the price has depreciated and is currently sitting at $0.32146.

On the hourly chart, you can see that the price of Ripple bearly made it past the prior high which is why like in the case of Ethereum we could see some minor further increase to the horizontal resistance point at $0.3366 before this upswing ends.

The price is currently below the 0.236 Fibonacci level and is struggling to keep up the upward momentum which is why I would now expect to see a retest of the lower ascending trending which is the baseline support from the current structure as the interaction with its upper resistance levels was made and if the price is to continued moving to the upside an establishment of support is needed.

Bitcoin Cash BCH/USD

From Friday’s open the price of Bitcoin Cash has increased the most as it came up from $130.6 to $164 at its highest point on today which was an increase of 25.55%. The price has pulled back from its highest point today and is currently being traded at $160.8.

On the hourly chart, you can see that much as I said in the last analysis I didn’t believe that the Y wave ended which proved to be true as the price continued moving to the upside above the $135.3 horizontal resistance level and past the prior high at $155.9 which was retested today on a minor pullback.

If my count is correct we are to see the start of a downtrend from here as this was the Y wave from the second corrective structure after the price impulsively increased and broke out from the descending channel.

If we are seeing the start of the impulsive move after price broke out more upside would be expected from here but we are going to see that from the depth of the now expected downtrend.


Crypto Price Analysis: (BTC,ETH,XRP,BCH): Mar 15, 2019

Bitcoin BTC/USD Price

From yesterday’s low at $3936 the price of Bitcoin has increased today by 1.51% as it came to $3994.4 at its highest point today around which it is currently sitting.

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On the hourly chart, we can see that the price of Bitcoin has interacted with the horizontal resistance level and has found resistance there once again as indicated by the wick from the upside on the green hourly candle after which a red one appeared.

This interaction is set to end as a rejection most likely as minor downside movement is expected after the current Minuette ABC correction to the upside develops and now that the price has reached its upper level we are most likely going to see the start of another Minuette correction to the downside develop which would mark the end of the Minute X wave.

As the price has been stuck in the horizontal range between the 0.618 Fibonacci level which serves as a support and the horizontal resistance line at $3994.4 we are seeing correctional movements that are set to retest the significant support/resistance levels.

Now that they got retested numerous time we could finally see a breakout and from what the chart is currently implying we are to see a breakout to the downside as the lower support level needs to get retested again if the price is set to go higher then the $3994.4 level.

This minor downfall is most likely going to end on the ascending trendline which is the upper support level from the ascending triangle which was formed from 15th of December when the Intermediate correction started.

After this interaction, one more attempt for an increase would be made according to my count as the price is heading for its most significant resistance around $4200 for a retest of resistance.

Ethereum ETH/USD Price

From yesterday’s low at $133.8 the price of Ethereum has increased by 2.94% today measured to its highest point at $137.64 where it is currently sitting.

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The price of Ethereum has reached the 0.618 Fibonacci level which serves as a strong resistance point and as the price is still in the upward trajectory we might be seeing the start of the expected increase although I believe that the price is heading for a minor retracement as the third Minuette ABC should develop fully, potentially going for another Minuette lower low which would be around $130.42.

This increase would be corrective according to my count as it would be a continuation of the Minute WXY correction to the upside that started on 5th of March when the first significant increase was made of around 13%.

Another increase with similar momentum is expected so the price target for its ending point would most optimally be at around the 0.786 Fibonacci level or in price terms around $151.74.

As this increase is corrective after it ends more downside would be expected for the price of Ethereum as we are most likely seeing the start of the impulsive move to the downside after the Intermediate correction ended.

If the Intermediate WXY correction got prolonged by two more waves which could be a possibility as the price action looks more corrective then impulsive we are seeing the development of the second wave X which would most likely end on the support level formed by the correctional structure which would be around $121.11.

Ripple XRP/USD Price

From yesterday’s open when the price of Ripple was at its highest sitting at $0.32213 the cryptocurrency has depreciated in value by 1.92% to its lowest point today at $0.31594 but started increasing again and is currently in an upward trajectory sitting at around $0.32 level.

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The price action on the hourly chart looks choppy and indecisive more than in the case of other major cryptos which is why it has been difficult to confidently count the subways of the current structure, but as the market is strongly correlated and the chart of Ripple indicates we are to see an increase from here as the Y wave from a Minute correction will most likely develop to the upside.

As the price is in the upward trajectory and is below the 0.236 Fibonacci level we are most likely to see an interaction with the level which serves as resistance like in the case of Bitcoin and Ethereum who already completed the pattern.

The interaction with the upper resistance zone would lead to a retracement potentially to some of the ascending support levels formed by the Intermediate correction so the price would, in that case, retest the lower support level before continuing its upward trajectory more decisively.

Y wave from a Minute count is set to optimally end around the $0.3366 horizontal level but it might continue moving to the upside as the prior high might get retested as well.

Like in the case of other cryptos, when this upswing ends I would be expecting more downside for the price of Ripple

Bitcoin Cash BCH/USD Price

From yesterday when the price of Bitcoin Cash was $133.6 at its highest point we have seen a decrease at first to around $128.5 level after which the price started increasing again and came up to $138.2 at its highest point today.

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Looking at the hourly chart you can see that the price of Bitcoin Cash has increased like I projected but sooner than projected which makes it hard to say if the Minute Y wave ended or are we seeing the same scenario like expected in the case of other major cryptos – minor retracement before further upside.

The price above its significant resistance level at $135.3 but has been there on the first corrective increase after the initial drop of over 19% we have seen on 25th of February.

I don’t believe that this was the Minute Y wave so I would be expecting that the price immediately starts falling back below the resistance point as it entered the seller's territory.

If the price continues moving higher to the upside then we are most likely seeing the development of the Minute wave Y which could increase further up before the next downfall starts.

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Crypto Price Analysis: (BTC,ETH,LTC,EOS): Mar 14, 2019

Welcome to Today's BitcoinExchangeGuide.com top cryptocurrency coin price prediction and forecast analysis overview. We will be reviewing four coins today in Bitcoin, Ethereum, Litecoin and EOS.

Today's Bitcoin Price Prediction (BTC/USD)

From yesterday things haven’t changed much for the price of Bitcoin as it is still hovering around the same level. On yesterday’s open the price of Bitcoin was $3966.8 from where a downfall to $3925.9 occurred but the price managed to recover since and came up to $3962.6 at its highest point today but is currently sitting at $3951.5.

On the hourly chart, you can see that Bitcoin's price is still above the 0.618 Fibonacci level which serves as a support as it was retested today again proving that the buyers are present at those price levels.

Above the current price position is the seller's territory above the $3994.4 horizontal level which is why we are seeing the price being stuck in the current range from last Tuesday when an increase of over 5.4% has been made as the price found support at the intersection between the 0.5 Fibonacci level and the ascending trendline from the triangle which was formed by the current correctional structure from 15th of December.

As the wave structure implies we are going to see the further sideways movement as the price is most likely to retest the above resistance line once more before falling down again below the 0.618 Fibonacci level at $3936.8.

This would be another ABC correction to the downside which would be the end of the Minute X wave out of the presumed WXY correction in the opposite direction. After this expected move to the downside ends another increase would be expected in a similar momentum like we saw on last Tuesday on 5th of March as it would be the continuation of the mentioned correction.

Today's Ethereum Price Prediction (ETH/USD)

From yesterday’s high at $136.31 the price of Ethereum has decreased by 1.97% measured to today’s lowest point at $133.62. The price started increasing again from there and has spiked up to $138.53 but the spike ended as a large wick on the hourly chart as it quickly pulled back to the levels from where the increase was made. Ethereum's price is currently sitting at $134.72 but is still in an upward trajectory which means that we could see further increase today.

On the hourly chart, you can see that the price action created a five-wave move to the downside after which today we have seen a minor increase. As the price previously ended an ABC correction to the upside we are now most likely seeing the third to the downside which is why I believe that after today’s increase ends we are to see another five-wave move to the downside as the C wave should develop.

This would mark the end of the X wave as three consecutive corrections would end which means that another increase to the upside should be expected as we’ve seen last Tuesday when the price of Ethereum increased by over 12%.

This would be the continuation of the WXY correction to the upside which is the second correction after the first one ended on the 0.5 Fibonacci level at around $126.76. This means that after it ends a third correctional structure to the downside should start developing but first, we are to see some of the upper resistance line getting retested for resistance or even a quick spike above inside the sellers’ territory.

The expected increase would trigger another round of selling which could have enough momentum to push the price below the 0.5 Fibonacci level if it is to be another five-wave move to the downside, but if we are seeing the prolongation of the Intermediate WXY correction the price could correct further before finally establishing support around $121.93.

Today's Litecoin Price Prediction (LTC/USD)

On yesterday’s open the price of Litecoin was sitting at $57.996 which was yesterday’s high as the price started declining from there and came down to $56.122 at its lowest point today which is a decrease of 3.23%.

Since then the price attempted to recover but failed to exceed the prior high and break out above the current resistance zone inside which it is currently consolidating. The price made it out of the resistance zone last week but the encountered resistance above proved to be stronger than the upward momentum which is why the price pulled back inside the territory of the resistance zone again.

On the hourly chart, you can see that the Litecoin price made an increase to the resistance zone in a five-wave manner and created an rising wedge around those levels as the 5th wave ended as an ending diagonal.

Now we are seeing a corrective movement to the downside out of which Tuesday’s increase was most likely the B wave from the ABC three-wave correction which is why after it ends I would be expecting another movement to the downside as the C wave should develop.

This expected move to the downside is set to retest some of the horizontal support levels inside the zone out of which the first significant support would be at around $52.4 which would be the median line and the lower support level would be around $49.236

Today's EOS Price Prediction (EOS/USD)

From last Thursday the price of EOS was $3.9564 at its highest point the price has been in a minor downtrend and came down to around $3.5 at its lowest point of the week on Tuesday which was a decrease of 11.6%. On Tuesday we have seen an increase of 6.63% as the price came up to $3.7414 at its highest point but again started trending to the downside moving below the 0.5 Fibonacci level again.

The 0.5 Fibonacci level serves as significant support/resistance point as you can see from the hourly chart and now that the price came below it we could see the interaction with the support at around $3.2787 where the first correction ended after the initial drop of over 18% we have seen on 25th of February. After this corrective move to the downside which I have labeled as a Minute WXY we are most likely seeing the second correction in the upside direction which is why after this minor downtrend ends I would be expecting another increase like we saw started on last Monday when the price increased in a five-wave manner to the upside.

This increase would have to wait for the current downtrend to end which is why from here I would be expecting another lower low at first and potentially an interaction with the lower support line at $3.2787 so depending on the depth of the expected decrease we are to see where the increase could end. The most optimal EOS price prediction target for the expected increase would be around the 0.618 Fibonacci level at around $4.162 but when it ends I would be expecting more downside for the price of EOS.


Crypto Price Analysis (BTC, ETH, XRP, BCH): Mar 13, 2019

Bitcoin BTC/USD Price

From yesterday’s open at $3952.3 the price of Bitcoin has decreased at first to $3902 which was 1.26%. From there the price of Bitcoin started increasing and came up to $3976 at its highest point yesterday from where it again started moving to the downside to $3926.3 and is currently sitting at slightly higher at around $3960.

Click to see the full-size image.

On the 15-min chart, we can see that the price action has ended been moving in a five-wave manner and as it came down to the 0.618 Fibonacci level today where it has established some minor support an upside move was expected which is what happened.

But since that would be the 5th minor wave it is likely going to end on the horizontal resistance at $3994.4 as a retest of resistance before correcting some more in another three wave manner to the downside.

As this was a three wave correction to the upside the third correction to the downside would be expected before we could see a breakout to the upside as the price needs to establish further support which is why the horizontal support levels below the prior one could serve as a support zone for the expected minor decrease.

This decrease would be the last Minuette correction out of the Minute X wave which means that when it ends another increase would be made according to my count as the Y wave should start developing to the upside.

The Minute Y wave would mark the end of the second correction after the price made the initial decrease of over 10% so according to my count, this would be a correctional upside movement before further downside.

Ethereum ETH/USD Price

From yesterday’s low at $130.85 the price of Ethereum has increased at first by 6.16% coming to $138.92 at its highest point yesterday. After the increase ended another downtrend started which pushed the price to $133.5 at its lowest point today, but since the price fell to those levels another attempt of recovery has been made as the price is currently sitting at $135.56.

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On the 15-min chart, we can see that the price of Ethereum increased impulsively yesterday which was the C wave from the previous upside correction and as it ended we are seeing the formation of the third correction to the downside which would mark the end of the Minute wave X.

Looking at the current wave structure we can see that the price action has created 4 Minuette waves which means that another one to the downside would be expected as it is most likely already the start of the expected correction to the downside out of which the A wave would be a five-wave move meaning that we are most likely going to see another Zigzag correction before the X wave ends.

The expected B wave would most likely retest the resistance at the 0.618 Fibonacci level around $137 area before another Minuette low would be established and it could end lower than projected on the above chart.

After this current downtrend ends I would be expecting an increase which would be the Minute Y wave out of the three-wave correction in which the price is from last Monday, February 4th.

Ripple XRP/USD Price

From yesterday’s low at around $0.312 the price of Ripple has increased by 6.58% today to its highest point at $0.33256. The price has retraced since and is currently sitting at 0.3266 area but is still in the upward trajectory.

Click to see the full-size image.

Looking at the 15-min chart you can see that my projection played out which validated my count once again as the expected C wave to the upside started developing. The price is currently above the 0.236 Fibonacci level which was retested on the way down and the price went quickly below it, but the bullish momentum is still present which is why we are most likely going to see another increase.

The C wave is set to interact with the resistance at $0.3366 but it could end lower than that as I have counted 3 waves out of the C wave which is five-wave move so another increase could lead the price higher but not higher then the mentioned resistance level.

When the C wave ends more downside would be expected for the price of Ripple as it would end on the upside, but it is still unclear whether or not the expected move to the downside would be another correction or would it be an impulsive move like we saw on the initial drop when the price of Ripple decreased by over 13%.

If the Intermediate correction ended we are going to see an impulsive wave 3 to the downside as this horizontally ascending price action would be the corrective wave 2, but there is a possibility that this whole structure is a prolongation of the Intermediate correction.

In either way from the resistance at $0.3366 more downside would be expected from which we are going to see which count is valid.

Bitcoin Cash BCH/USD Price

From yesterday’s low at $125.2, the price of Bitcoin Cash increased by 2.85% to its highest point today when it came up to $128.6 but is currently sitting slightly lower at around $127.8 level.

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Looking at the 15-min chart you can see that yesterday’s increase was a three wave move with a bit more room to the upside but looking near completion. This means that the ABC correction to the downside most likely hasn’t ended which is why we are likely to see another minor low before the expected corrective increase.

The price of Bitcoin Cash has been following the major cryptocurrency price e charts which is why we are seeing a similar pattern like in the case of Bitcoin but unlike in the case of Bitcoin, the price of Bitcoin Cash is set to go to retest its horizontal resistance level from the first horizontal sideways correction at $135.3.

As the price is set to retest its significant resistance like in the case of other cryptos we are most likely to see a similar scenario – a retest of the significant resistance ending as a rejection which will propel the price in a downward trajectory again.

The Minute Y wave would develop to the upside after this minor expected decrease so depending on its momentum we are going to see if the horizontal resistance gets broken but I don’t believe that it is likely considering that the choppy price action we have seen from 25th of February is the wave 2 from the five-wave move to the downside.

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Crypto Price Analysis (BTC, ETH, XRP, BCH): Mar 12, 2019

Bitcoin BTC/USD

From yesterday’s open at $4006 the price of Bitcoin decreased by 2.56% as it came down to $3903 at today’s lowest point. As the price was above the horizontal resistance level at $3994.4 the seller's territory was encountered which is why another strong downfall started below the 0.618 Fibonacci level which served as support.

The price found support on the upper horizontal support from the previous sideways horizontal range from where another increase has been made in a five-wave manner which is most likely the C wave from the ABC correction to the upside after the first one to the downside.

This would mean that another third correction to the downside should be expected as the Minute X wave should develop to the downside around the 0.618 Fibonacci level or potentially above it to some of the horizontal support levels from the previous lower range.

Click to see the full-size image.

After more sideways movement we are to see another increase like seen on last Tuesday when the price of Bitcoin increased from around 4.6%. The expected increase is set to retest some of the resistance levels above and is likely going to end around the intersection between the 0.786 Fibonacci level and the falling wedge resistance line which is at $4130.

We could see an increase even further to the upper bold black line which is the resistance line from the ascending triangle formed from the start of this current correction to the upside on 15th of December last year and extends even further to 20th of November.

This would leave a target zone of around $4300-4100 where many of the resistance points are concentrated with the horizontal resistance at $4300 being only the lower resistance from the upper resistance zone.

This is why we could see the interaction with those resistance levels trigger another round of selling which is expected after this increase ends.

Ethereum ETH/USD

From yesterday’s open at $138.93 the price of Ethereum has fallen by 4.62% to its lowest point today at $132.51.

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Looking at the hourly chart you can see that the price fell below the 0.618 Fibonacci level as the downtrend continued but since today's low the price has started increasing again which was the continuation of the ABC correction to the upside, and now that the price got rejected by the resistance at the 0.618 Fibonacci level another third Minuette ABC correction to the downside should occur.

These three consecutive ABC corrections are constituting the second wave out of the WXY correction to the upside which means that another increase should be expected as we saw last Tuesday when the price of Ethreum rose by around 11%.

This would be the third wave Y out of the second Minute and like on a minor scale a third one would be expected to the downside when it ends. The price is prior to that going higher but until were, we are yet to see. My best estimation is that we are going to see an interaction with the 0.786 Fibonacci level where the next significant resistance level is and the rejection there would be enough to set the price on the expected downward trajectory afterward.

Ripple XRP/USD

On yesterday’s high the price of Ripple was sitting at $0.32142 and from there as the price was trending down it decreased by 3.07% to today’s low at $0.31155. From there the price started increasing again as it fell to its lowest support levels inside the buyer's territory which is why immediately the price recovered back to the support which was previously broken now retesting it from the downside again as it managed to pull above.

Click to see the full-size image.

If the price manages to continue moving forward if the support is established we are seeing the start of the increase as the Y wave out of the second Minute correction to the upside should start developing. This would be a continuation of the impulsive increase we have seen last Tuesday when the price of Ripple increased by 6.39% measured to $0.32718 above the Fibolancci level.

Again the price is expected to increase above the Fibonacci level which serves as strong support but the price most likely isn’t heading up further then the next horizontal resistance level at $0.3366.

After this correction to the upside has ended we are to see a move to the downside which would be the continuation of the initial drop we have seen on Monday 25th of February. The price set to go lower from there but it is still unclear where the decrease could end as we are still seeing the price being stuck in a range so either we are going to see its support levels retested or a breakout to the downside which depends on the momentum behind the downmove.

Bitcoin Cash BCH/USD

From yesterday’s open at $131.2 when the price of Bitcoin Cash was at its highest we have seen a decrease of 4.52% as the price fell to $125.3 at its lowest point today.

Click to see the full-size image.

From there the price started increasing and currently at the prior minor high level forming a U shape which is an indication of the bottom and since an increase to the upside is now expected we could be seeing the start of that increase.

As like in the case of other cryptos, this increase would be correctional and would most likely go slightly over the $135.3 horizontal resistance level to the next horizontal resistance at around $140. This would be a continuation of the three-wave correction to the upside which is why we are most likely seeing this increase.

It would be the end of the second Minute correction after which the price is set to go lower as another should develop to the downside forming a double three correction. Depending on the ending point of the currently expected increase we are to see what the optimal target for the expected decrease would be, but if this was the second wave out of the higher degree three-wave correction we could see more downside for the price of Bitcoin Cash as Y wave would impulsively push the price down.

Cryptocurrency Market Overlook:

Coin360 Market Update – Click to see the full-size image.

 


Crypto Price Analysis (BTC, ETH, XRP, BCH): Mar 11, 2019

Bitcoin BTC/USD

On Friday’s open when the price of Bitcoin was $3960 we have seen an increase at first but a straight downfall from $4021 to where the increase was made to $3851 at its lowest spiked which was a decrease of 4.23%.

After the price fell it started increasing again and came higher than previously to $4045 but when the price ended this bullish upswing the price started declining again and from there came to $3920 at its lowest point today but is currently sitting at $3942.4.

Click the image to see it in full-size.

On the 15-min chart, you can see that this sideways movement we have seen over the weekend meant a breakout from the ascending channel but the price only quickly went below the 0.618 Fibonacci level and is currently retesting it again for support.

The price went above the $3994.4 horizontal resistance level but the resistance encountered there was too strong which is why after the price entered the sellers' territory above it, we have seen another downfall to the last support level which is the mentioned Fibonacci level.

The current structure looks like another correction taking place and judging by the price action movements we are going to see another increase from here now which would be similar to what we have seen after the price fell to the baseline support for a retest and started increasing impulsively as the next correction to the upside started.

Now that the price fell back to its support levels we could see a breakout to the downside but only for another retest of the ascending trendline which is the support from the now formed triangle that started on 15th of December last year when the first impulsive increase has been seen.

The downfall we saw over the weekend followed by the current corrective movement is most likely the wave X from the second Minute WXY to the upside which means that after it ends I would be expecting another increase as we saw on the first W wave.

This increase would set to interact with some of the resistance levels above, optimally with the falling wedge inside whos territory, the price is currently in resistance line intersection with the 0.786 Fibonacci level at 4130.

Ethereum ETH/USD

On Friday when the price of Ethereum was $140.7 we have seen an increase of 1.66% at first to $143.09 but since the price came to those levels another downfall has been seen like in the case of Bitcoin but in the case of Ethereum it was around 8% measured to the lowest spike at $131.26.

Click the image to see it in full-size.

Looking at the 15-min chart you can see that after a downfall the price attempted to recover and came back up to around the same levels from which it fell similarly to what we have seen after the initial drop we saw on Monday 25th of February.

As the price started declining again and is currently sitting below the 0.618 Fibonacci level I would be expecting to see the price continues moving to the downside for a bit longer until it reaches some support level for a retest which could be around the vicinity of the ending point of the spike we saw over the weekend at $131.

After this move ends I would be expecting one more impulsive move to the upside which would be the Y wave from the Minute correction that is the second correction after the price impulsively increased to $170.

But after this upside correction ends I would be looking for more downside for the price of Ethereum as this correction could be the second wave from a higher degree WXY correction in which case the third wave Y could start developing.

Ripple XRP/USD

Over the weekend the price of Ripple was been moving sideways going up and down and came from $0.32168 at the open on Friday to $0.3105 at its lowest point but from there started recovering to $0.325 from where another downfall has been made to $0.31437 at its lowest point today.

Click the image to see it in full-size.

On the 15-min time-frame, we can see that the price encountered resistance at the 0.236 Fibonacci level today from where the price started decreasing to its current horizontal range support level which wasn’t been displayed on the chart above but is obviously present as the price ended most of the correction around the current vicinity.

The upside would be expected from here as the price of Ripple is most likely undergoing another correction which would be the to the upside and as we are currently seeing a symmetrical triangle formed a breakout from it could occur on the upside which will bring just enough momentum for the last C wave to the upside to develop.

The price target for the expected increase would be higher than the previous high buy lower than the first correction C wave ending point as if this is another Minute correction like we are seeing in the case of Ethreum and Bitcoin after it ends more downside should be expected which is why the price couldn’t exceed the 0.382 Fibonacci level at around $0.349 according to my count.

Bitcoin Cash BCH/USD

On Friday’s high the price of Bitcoin Cash was sitting at $131.2 and from there much like in the case of other cryptos fell steeply and aggressively by 4.09% as it came down to $125.8.

From there the price made a significant recovery going above the level from which the prior decrease was made as it came up to $135.2 level.

Click the image to see it in full-size.

On the 15-min chart, we can see that the $135 horizontal level served as resistance which is why the price has n’t exceeded it instead it got rejected by the encountered resistance which set the price moving downward again to its minor horizontal support line on which it is currently sitting.

You can also see my projected scenario in which this increase was predicted which I’ve left to elaborate on the current expectation. You can see that the price could have ended its 3rd corrective wave and the followed increase could be the first wave out of the next 5-wave impulse which would be the Y wave from a Minute WXY correction to the upside much like in the case of other cryptos.

This will soon be validated as if the price continues moving lower below the beginning point of the last seen increase the scenario would be invalidated, but that would only mean that the 2nd wave hasn’t ended which is why the price would continue moving down until it does.

Crypto Market Update:

Coin360 Market Overview – Click to see the full-size image.

Crypto Price Analysis (BTC,ETH,XRP,BCH): Mar 8, 2019

Bitcoin BTC/USD Price

On yesterday's open the price of Bitcoin was $3954 and from there the price increased at first to $3987, then fell to $3945 from where it increased again to $3994.4 and then fell again to $3968.

Click to see the full-size image.

Looking at the hourly chart you can see that the price action continued creating minor higher highs and higher low as it is still in the ascending channel but now an interaction has been made with the horizontal resistance at $3994.4 so now we are going to see if the price will be rejected or will we see further increase.

The price is above the 0.618 Fibonacci level which serves as a support but the tight horizontal range in which the price action is currently in is making it hard to keep up the bullish momentum which is why we are seeing this ascending channel around the mentioned levels as it is most likely a cluster in which the buyers are the sellers are struggling for control. The buyers are currently in control as the price is moving in an uptrend but this might lead to exhaustion after which the sellers' could start gaining control which would then lead to a breakout to the downside.

The other possible scenario would be that the sellers are going on a temporary halt as they would be willing to sell at a better price which is why they could stop defending the range which would remove the current resistance the price is facing. If this logic gets put into practice we are going to see another impulsive increase to the upside with the price potentially exceeding the prior high at $4261 although the next significant resistance point is at $4063 which needs to be broken after which the 0.786 Fibonacci level at $4130 serves as resistance.

Zooming out to the 4-hour chart you can see my projection in which the price increases from here on another impulsive move to the upside which would be another 3 wave correction similarly to what we saw after the intermediate W wave ended in a Minor WXYXZ correction. This fractality could provide further indication that we are going to see the correction prolonged by two more waves out of which we are in that case seeing the formation of the second wave X.

Ethereum ETH/USD Price

The price of Ethereum has behaved in a similar fashion like in the case of Bitcoin which is reasonable as the market is strongly correlated. From yesterday’s high at $142.6 the price has fallen by 2.6% to its lowest point today but has recovered slightly since and is currently being traded at $140.39

Click to see the full-size image.

On the hourly chart, you can see that a similar scenario is expected as the price has been similarly which is why I believe that we are seeing the second wave X from the prolonged correction and by looking at the price action after the Intermediate W wave ended and the first X wave started you can see the resemblance with the current structure.

The price is now likely to head up for another increase which could be in a five-wave manner instead of the projected three-wave correction to the upside as this was shown after the Minor W wave ended.

As this movement would be correctional when it ends more downside would be expected from the price of Ethereum as if we are seeing the development of the second wave X the price will go down to around either the ascending trendline from the two points of the Intermediate correction or some of around the 0.382 Fibonacci level at $116.46.

If we see the price moving lower from here the 0.618 Fibonacci level at $137 would serve as support and would only be the completion of the second wave X out of the now presumed Minute WXY correction to the upside.

Ripple XRP/USD Price

From yesterday’s open at $0.32512 the price of Ripple has fallen by 2.72% today measured to its lowest point at $0.31627 but has started to increase from there and is currently sitting at $0.31829

Click to see the full-size image.

On the hourly chart, we can see that the Minuette ABC correction ended as I’ve counted 5 sub-wave of the C wave which is why now we are most likely to see another 5-wave move to the upside.

If this is true then the price of Ripple could increase to the prior high level at $0.34964 or slightly lower then that around $0.3424 below the W wave ending point.

This would be another correction to the upside after previously the price action made a three-wave move to the downside which was the X wave according to my count and if so we are to see a further decrease for the price of Ripple to some of the support levels for the establishment of support before further correctional movements to the upside.

Bitcoin Cash BCH/USD Price

Looking at the Bitcoin Cash 15-min chart you can see that I have counted three consecutive ABC corrections after which a five-wave move to the upside started, and after it ended the prices started correcting to the downside and now that it too has most likely ended with potentially moving a bit lower to retested the channels support once more we are to see a breakout to the upside as the third wave should start developing.

Click to see the full-size image.

We are yet to see if this is the start of the impulsive move altogether and since there were three corrections we could see this happen. Another possibility would be that this would be the start of another correctional structure to the upside which would correlate with the expected scenarios in the case of the previously analyzed cryptocurrencies.

The price of Bitcoin Cash will continue moving to the downside from there if it is set to follow the market so we are yet to see what happens when and if the price comes to the expected target levels which would be around $146.3 at the first expected increase.

If the movement ends as a three-wave move and the price starts falling down below the support level on which the price is currently being traded, then that would very likely mean that we are seeing the prolongation of the correction of a higher degree out of which this move to would be the second wave X.

Crypto Market Update:

Coin360.com Market snapshot – Click to see the full-size image.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, LTC): Mar 7, 2019

Bitcoin Price Analysis (BTC/USD)

From yesterday’s open at $3951 the price of Bitcoin has been moving sideways – declining to $3918 at first after which a minor increase has been made to around $3994.4 level but the price has retraced since and is currently sitting at around the same level as on yesterday’s open.

On the hourly chart, you can see that the price of Bitcoin came up to the horizontal resistance level at $3994.4 where it has retested it for resistance which is why the price has retraced since the interaction as the level still serves as a respectable resistance point.

We are seeing the price action forming a minor ascending channel which resembles the one prior to the initial drop we have seen on last Monday from which the price broke out from the upside and has continued moving impulsively higher as the 5th wave developed.

Since the BTC price is now impulsively increasing again and has created another similar pattern a similar scenario would be expected meaning that from here most likely we are to see a breakout to the upside with the price continuing its impulsive trajectory.

If the price continues moving impulsively up it could end its bullish momentum at around 0.786 Fibonacci level which would in price terms be around $4130 at max as the 3rd impulse wave has made the majority of the increase for today's Bitcoin price prediction.

Most optimal target would be below the Fibonacci level, around the resistance of the Minor 4th wave from the previous impulse wave to the upside which would be around $480.

Ethereum Price Analysis (ETH/USD)

From yesterday the price of Ethereum hasn’t changed much and like in the case of Bitcoin, moved sideways, forming an ascending channel.

On the hourly chart, we can see that the price has managed to stay above the 0.618 Fibonacci level which serves as support but since the price encountered resistance at the horizontal resistance level which was well respected when the price moved sideways in the first horizontal range after the initial drop, which is why we are seeing struggling to keep up moving to the upside.

The wave structure looks impulsive which is why I would expect to see another increase from here as the 5th Minuette wave should start developing soon. This upswing has started after the first Minute correction ended to the downside which is why this move has been either another correction to the upside or is the start of another impulsive increase.

If this is another correction to the upside we could see a three-wave structure develop which would mean that another increase could occur. This increase would be the Minute wave Y as the correction is most likely to be another three-wave correction.

Previously the Intemediate Y wave ended and is the initial decrease suggested we are to see a trend continuation to the downside, which is why I don’t believe that the price could exceed the prior high for Ethereum's price forecast of today.

Most likely this isn’t the start of the impulsive move and is more likely the prolongation of the mentioned correction. If this is true that the currently expected three-wave increase would be the wave out of the Minor correction that is going to be the second wave X out of the prolonged correction.

If this is not true that we could see the ETH price starting to swift its trend to the downside and continued moving down as this increase would then be the second corrective wave from a higher degree impulse.

Ripple Price Analysis (XRP/USD)

From Monday, when the price of Ripple was $0.3075 at its lowest point, measured to the highest price has been today at $0.327, we have seen an increase of 6.37%.

On the XRP hourly price chart, you can see that I’ve counted the sub-wave from the upswing that started on Monday and as you can see the first five-wave move has ended as well as the Minuette ABC correction.

This means that now another increase should be expected as the Minor Y wave should develop, but the development of another impulsive move to the upside might not happen straight away as the ABC correction might only be a lower degree three-wave move from a larger corrective structure that is set to fully develop after the initial increase was made.

The expected impulsive move to the upside would probably end around the vicinity of the Minor W wave ending point which would be around the 0.382 Fibonacci level which is in price terms around $0.344-0.35 area.

After the increase ends I would be expecting a retracement back to retest some of the support levels in order to establish support but it is still unclear where that support might be which is why we are going to closely monitor the price action in the following period and adjust the projection accordingly for the Ripple cryptocurrency coin.

Litecoin Price Analysis (LTC/USD)

From Monday when the price of Litecoin was around $46 at the open, measured to its highest point at $58.63, we have seen an increase of 27.52%.

Looking at the Litecoin hourly chart, you can see that the price has entered the resistance zone once more and has managed to come up to its upper level, even going slightly above it. But since the resistance, there was strong the price has started struggling to keep up its bullish momentum.

The price action has formed a higher degree ascending wedge in which the 5th wave developed and it came up to the upper level of the support zone which now serves as a strong resistance point. This was expected as the price of Litecoin previously completed another Minute WXY correction, but now that the increase has most likely ended and the price came up to the most significant resistance we are going to see the start of the trend continuation to the downside as the WXY correction ended.

We might see another attempt for a breakout to the upside, but I wouldn't expect it to continue for much longer as it will most likely end as a fakeout. According to my count, we have seen the end of the three-wave correction to the upside, so now either a trend continuation should occur or further prolongation of the mentioned correction in a form of the second wave X.

Top Cryptocurrency Market Cap Coin Price Analysis

As you can see, Bitcoin, Ethereum, Ripple and Litecoin all stand to see some movement as a whole. As it stands today, the morning of March 7, 2019 – here are the stats from the top coins.

  • Market Cap: $133,715,167,446
  • 24h Vol: $30,992,657,418
  • BTC Dominance: 51.5%
  • 📈 BTC – $3,915.08 USD (+0,65%)
  • 📈 ETH – $139.15 USD (+0,83%)
  • 📈 LTC – $56.59 USD (+5,89%)
  • 📈 EOS – $3.80 USD (+1,45%)
  • 📈 XRP – $0.316923 USD (+0,99%)
  • 📈 ADA – $0.042818 USD (+0,62%)
  • 📈 NEO – $8.85 USD (+0,89%)
  • 📉 TRX – $0.023353 USD (-1,20%)

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Mar 6, 2019

Bitcoin BTC/USD Price

From yesterday’s interaction with the baseline support when the price was at around $3790 at the open, measured to the highest point the price has been today which was at $3986.6 we have seen an increase of 5.18%.

Click to see the full-size image.

Looking at the 15-min chart we can see that the price moved in 5 waves to the upside and came close to the projected target level at the horizontal resistance at $3994.4 but the was no interaction, instead, the price spiked up quickly before falling down equally strong and is currently retesting the 0.618 Fibonacci level in a lookout for support.

As we haven’t seen the interaction with the mentioned level and as the wave structure looks undeveloped we are most likely to see another attempt for the price to continue its upward trajectory which would be the 5th wave from the now seen impulsive move to the upside.

This was expected as previously another Minute correction to the downside ended but it is still unclear whether or not the current upward move is the start of another correction to the upside or is this the last wave from the previous correction.

In either way now that the price moved impulsively to the upside and came close to its resistance we are going to see a retracement or the start of another move to the downside.

The now expected decrease would be most likely a three wave structure as we have seen a five-wave move to the upside, after which I would expect to see another five-wave move to the upside as I believe that this current upside movement is another Minute WXY correction following the previous one.

Ethereum ETH/USD Price

From yesterday’s open at $127.91 the price of Ethereum has increased by 12.48% measured to its highest spike today at $143.87.

Click to see the full-size image.

On the hourly chart, you can see that I’ve started shifting towards my alternative coun as I’ve incorporated the first five-wave move to the downside in the correctional count instead of leaving it as the potential first wave of a higher degree impulse.

This is due to the fact that we have seen an impulsive five-wave move to the upside today which was included in my primary projection but as the structure from last Monday looks more corrective then impulsive I believe that we are most likely seeing the prolongation of the Intermediate WXY correction in which case the refereeing structure would be the second wave X.

If this is true then the current move to the upside is the second wave out of the Intermediate X wave and is set to go upward to around the media level of the current range which would be at around $149.

Now that the upward move ended we are going to see a movement to the downside from whose depth we are going to see if the count gets validated. If this is the Minute correction to the upside we are to see the price retrace before increasing again.

Ripple XRP/USD Price

From yesterday’s low at $0.30726 the price of Ripple has increased by 5.8% today, measured to the highest point the price has been today at $0.325.

Click to see the full-size image.

Looking at the hourly chart you can see that after the Intermediate Y wave ended the price fell impulsively to the downside which meant that we were most likely seeing the start of the impulsive decrease as a trend continuation after the correction ended, but after some period of consolidation the price increased equally strong to the upside coming close to the level from which the decrease was made.

This increase to the upside was due to the coinbase pro listing but since the price came close to the levels from where the major decrease was made another correction took place and the price action formed a descending triangle.

As I’ve counted a three-wave move inside the triangle and considering that today’s increase lead to a breakout to the upside we can say that the Minute WXY has most likely ended which is why another structure started forming and as the market is strongly correlated I would presume that it will be another Minute correction to the upside just like expected in the case of Bitcoin and Ethereum.

The price action for the price of Ripple has been moving sideways more than other cryptos which is why it has been hard to say where are we in the market context sense, but if we are to follow the logic of market correlation we could be seeing another correctional wave as the Intermediate correction got prolonged.

Bitcoin Cash BCH/USD Price

The price of Bitcoin Cash has increased by 9.4% – coming from $122.1 at its lowest point yesterday, to $133 at its highest point today.

On the hourly chart below we can see that the price encountered resistance at the horizontal resistance level but an interaction hasn’t been made like in the case of Bitcoin which is why we could see another minor increase before another move to the downside starts.

In the case of Bitcoin Cash, I wanted to present an alternative possibility in which from here the price could go further down without one more five-wave increase that is expected and this scenario also could be applied on previously analyzed cryptos.

Click to see the full-size image.

In this scenario I’ve includes the first decrease made on last Monday as the start of the correction like in the case of other cryptos but in this scenario, the difference is that the Minute correction hasn’t ended on the three wave move but is instead a five-wave correction out of which the current increase would be the second wave X.

If this is true, that would mean that another move to the downside is coming which would form a lower low potentially to the vicinity of the horizontal support at $107.4 as it is the most significant support to the downside.

In either way now that the increase has ended and we are seeing the prices interacting with their resistance point a minor downtrend would now most likely occur from which we are to see which count gets validated.

Overall I believe that this correctional movement is the second wave X from the Intermediate correction which means that when it ends another move to the upside would occur as the last Intermediate wave Z is to develop.

Cryptocurrency Market Update:

Coin360.com's market overview – Click to see the full-size image.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Mar 5, 2019

Bitcoin BTC/USD

From yesterday’s high at $3908 the price of Bitcoin has fallen at first by 3.11% as it came down to $3786 at its lowest yesterday. Starting from today’s open the price has started increasing again and is currently sitting at $3915.8 slightly above yesterday’s high and has gone further up to $3936 at its highest point today.

BTC-USD
Click here to see the full-size image.

Looking at the hourly chart you can see that the price of Bitcoin fell to the baseline support for one more interaction like expected which was the 5th wave of a minor 5-wave move to the downside and as it has ended another third correction has started to the upside.

As the projected scenario is playing out like expected, this increase that we are seeing is most likely corrective which is why there isn’t much momentum for a breakout to the upside above the $3936 resistance level, instead of the Fibonacci level has rejected the price for now so we are soon going to see if my projection is valid.

The price broke out from the horizontal range in which the price action was forming a descending channel and now that the price is back to its resistance we are likely to see further trend continuation to the downside.

Three consecutive corrections would be the second wave from a higher degree impulse or at least the second wave out of the three wave corrective wave to the downside if the Intermediate correctio got prolonged in which case this downside move would be the second wave X.

If the price continues moving higher and I don’t believe that it will we could see an interaction with the $3994.4 horizontal resistance level which could reject the price strongly a would propel it in a downward trajectory again.

Ethereum ETH/USD

On yesterday’s open the price of Ethereum was $134 and since the price was in a downtrend a decrease continued by another 5.46% as the price came down to $126.66 at its lowest point yesterday.

From today’s low at $127.7, the price of Ethereum has increased by 8.34% measured to its highest point at $138.39 but since the price encountered resistance at the intersection between the 0.618 Fibonacci level and the descending trending which is the resistance line from the channel out of which the price broke out to the downside.

ETH-USD
Click here to see the full-size image.

On the hourly chart, you can see my alternative count in which I have accounted the first 5-wave move to the downside as the start of the correction as to show that even if the ending point of the correction is opposite I would still expect downside from here as a third correction should occur.

In my primary count, the first 5-wave move to the downside are the start of the impulsive wave of a higher degree out of which the horizontal range in which the price was consolidating was the second wave but as the second wave usually retraces back by around 70% after the first direction wave, and as you can see that didn’t happen, I am starting to lean more toward my alternative count.

This would, in that case, be the second wave X out of the Intermediate WXYXZ correction as it got prolonged by two more waves.

Soon we are going to see which count gets validated as the price of Ethereum will soon retrace and from the depth of the retracement, we could start to see some indications.

Ripple XRP/USD

From yesterday’s high at $0.31952 the price of Ripple has fallen by 3.85% to its lowest point yesterday as it came down to $0.30721 at first but since then it started increasing again and has come up to $0.3214 at its highest point today which was an increase of 4.56%.

XRP-USD
Click here to see the full-size image.

Looking at the hourly chart you can see that the price of Ripple has ended its 5-wave move to the downside as the price came to the horizontal support line (purple interrupted line) and found support there retesting the level for two times before starting to increase again.

As the first Minute WXY correction to the upside ended we are most likely seeing another to the downside or at least some further correctional movement out of the same correction of a higher degree, in which case the current increase would be the upward wave Y.

In either way, the price of Ripple has been struggling to keep up the upward momentum shown after the initial drop which is why I strongly believe that this whole move seen on the hourly chart above is corrective and is why I would expect to see more downside from here.

The sideways movement makes it hard to say when the move should start but if this current increase is the upward facing wave Y then after it ends we could see another impulsive decrease to the downside.

This would be the 3rd wave according to my primary count but could also very likely be the prolongation of the Intermediate correction like in the case of Ethreum which we will soon validate.

Bitcoin Cash BCH/USD

From yesterday’s high at around $130 the price of Bitcoin Cash has decreased at first by 5.7% as it came down to $122 at its lowest today but has started increasing again, following the major cryptos and is currently sitting at $129.6 struggling to keep up the upward momentum around the vicinity of the yesterday’s high.

BCH-USD
Click here to see the full-size image.

On the hourly chart, you can see another variation of my count like I said it could have been in the price of Ripple. This is still according to my primary count in which the initial decrease we have seen last Monday was the start of the impulsive move to the downside.

The current structure is, in that case, most likely the second wave out the mentioned higher degree 5-wave move so after it ends more downside would be expected for the price of Bitcoin Cash as the 3rd wave should start developing.

If this is true, then the price of Bitcoin Cash could fall to around $107 on the next run down as it is the next horizontal level in line that could serve as support.

Crypto Market Update:

Coin360-3-5
Source: Coin360.com. Click to see the full-size image.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Mar 4, 2019

Bitcoin BTC/USD Price

From Friday open when the price of Bitcoin was around $3900 at the open the price has increased at first by 1.28% as it came up to $3950 which was the highest point the price has been over the weekend as it started decreasing from there to $3868 were the lowest horizontal support level was then increased again to the descending trendline which serves as resistance before falling down to the most significant support line above which it is currently sitting.

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This sideways movement we have seen over the weekend was the X wave of the second Minute WXY correction to the downside and as it retested the baseline support with a 5-wave move it most likely ended.

From today’s highest point when the price of Bitcoin was $3907.5 measured to the lowest point, the price has been today at $3768 we have seen a decrease of 3.57%. This decrease was most likely the Y wave, so now as it ended on the 5-wave move we are seeing the start of another correction to the upside.

The similarities in the last Monday’s drop after which we’ve seen the first Minute WXY correction to the upside and the current drop could be seen in the wave structure which is why I believe we are to see a similar correction.

The expected third Minute correction would most likely end around the vicinity of the horizontal resistance either at $3994.4 or lower to the vicinity of the first Minute correction ending point around $3960.

If this is true, then more downside should be expected for the price of Bitcoin as this would be the completion of the 2nd wave of a higher degree impulse out of which the 1st wave would be the 10%+ drop we’ve seen last Monday.

This is still to be confirmed as there are different and alternative counts.

Ethereum ETH/USD Price

From Friday’s open when the price of Ethereum was $130.8, measured to the current level at $128.76 we have seen a decrease of 7.4%. The price hasn’t fallen in a straight line, instead, it moved sideways over the weekend as expected before finally dropping today.

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Looking at the 15-min chart you can see that the price fell below the 0.618 Fibonacci level and found support on the descending channel’s support line from which it bounced back to the Fibo level where it got rejected. As the Fibonacci level served as resistance once the price fell below it the price was sent in a downward trajectory and is currently below the descending channel’s support line.

As previously we have seen a correction to the upside which ended on the descending channel’s resistance line the sideways movement we have seen over the weekend following today's drop is most likely the second Minute correction.

I have counted 5 waves which means that in either way the downward movement is over so we are soon going to see what follows. According to my count, we are most likely to see a third correction which would be to the upside and could push the price much higher than projected.

There is a possibility that from here we see a bullish increase as the price has retraced to the 0.5 Fibonacci level from the last impulsive move to the upside which according to my count was the Intermediate wave Y.

The Intermediate correction might get prolonged by two more waves in which case this whole movement to the downside we’ve seen from last Monday could be the second wave X, which would mean that another increase to the upside could be made but until something dramatically changes my primary count remains.

Ripple XRP/USD Price

From Friday's open when the price of Ripple was $0.32057 measured to the current level at $0.30951, the cryptocurrency has depreciated in value by 3.45%.

The price increased at first from Friday’s open it came up to $0.33173 at its highest point which was the ending of the third Minuette ABC correction which is why when it ended the price started moving impulsively to the downside like expected.

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Now that the price came close to the projected target area and is looking like it found support there with potentially retesting it once more we are going to see the price increase from here but till when we are yet to see as this could be the first impulsive move out of the 3rd wave of a higher degree impulse out of which the Minute WXY correction was the 2nd and the 13.66% decrease we saw last Monday is its 1st.

We could very well see another correction to the upside which is in my mind more likely as the Minute WXY correction could get prolonged by two more waves in which case the current decrease we saw from Friday would be the second wave X and that the last Z wave would bring the price much higher before the mentioned 3rd impulsive move to the downside starts.

Bitcoin Cash BCH/USD Price

From Friday when the price of Bitcoin Cash was $133.1 at its highest point, measured to the lowest levels the price has been today, we have seen a decrease of 9.43% as the price came down to $120.5 at its lowest point today.

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On the 15-min chart, you can see that the Y wave ended much lower than I was expecting it to but the price came down exactly to the levels I’ve projected. As the Minuette WXY ended we are seeing the trend continues to the downside. The decrease looks impulsive and is most likely the start of the 3rd impulsive move which still hasn’t ended as the 5th Minuette wave should develop.

After the decrease ends and it will soon we are going to see which of my counts gets validated as I have presented different outlooks in today’s report. The market is strongly correlated still which is why the EW count is similar in the case of every major crypto so what applies to those, applies to the majority.

Crypto Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Mar 1, 2019

Bitcoin BTC/USD

From yesterday's open at $3870.9 the price of Bitcoin has increased at first by 3% as it came to $3986.9 at its highest point yesterday, but started immediately decreasing from there, leaving a wick on the 15-min chart and fell to $3893 at today's open.

The price is currently sitting at around $3926 on the descending trendline which served as a significant resistance point, so we are now going to see if the price is to get rejected by it or are we going to see a breakout to the upside.

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Looking at the 15-min chart you can see that the price of Bitcoin in undergoing further correctional movements most likely so there aren’t still any decisive moves on the horizon but as the last ABC to the upside ended we are now going to see if the price starts impulsively going to the downside as the trend continuation should occur, or are we going to see further prolongation of the corrective range.

I have counted the sub-waves and they imply that this structure is most likely the second wave out of the higher degree impulse but we are to see if this is true as the price could be very well preparing for another increase before that expected trend continuation starts.

Monday’s decrease is the first impulsive move from that expected trend continuation but it could very well be the second wave X from the previous WXY correction as now it got prolonged by two more waves X and Z. If this is true then the price of Bitcoin could exceed the prior high on the Z wave although not very likely as the Monday’s decrease looks more impulsive than corrective in nature.

Over the weekend we might see some indication on the breakout direction but until then the more sideways movement is expected.

Ethereum ETH/USD

From yesterday’s open at $136.49 the price of Ethereum has increased by 3.38% at first coming to $140.20 at its highest point today but retraced since and is currently sitting at $139.12.

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On the 15-min chart, you can see a similar projection like in the case of Bitcoin as the market is strongly correlated it is similar on the chart of most major cryptocurrencies. The current range has been made by correctional movements which will most likely end as a Minute WXY correction and is the second wave out of the impulsive move to the downside that started on Monday.

Currently, the price action is in the development of its third wave so another increase from here would be expected before we see the trend continuation. If the price increase from here I would be looking at the ascending trendline that was formed by the W wave and is still unconfirmed for interaction and an ending point of this Minute correction.

We might see further sideways movement if the correction gets prolonged by two more waves in which case the price could go significantly higher than expected buy in either way when it ends I would be looking at more downside for the price of Ethereum.

Ripple XRP/USD

From yesterday’s open at $0.31545 the price of Ripple has increased by 4.08% measured to the currently traded level at $0.32872 which is the highest point today.

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Looking at the 15-min chart we can see that the second ABC correction ended which is why another 3rd one in the opposite direction started.

The C wave out of the last correction has almost come to an end as I have counted 5 sub-waves so another pullback is soon to start. As we’ve seen two consecutive corrections now most likely the 4th one is to take place which is why over the weekend we could see a further price drop for Ripple or it could mean the end of the correction altogether as we have seen three corrective structures.

The price is currently above the 0.236 Fibonacci level which serves as significant support/resistance point but I don’t believe that it is going to stay above it much longer as the price has entered the territory of the upper horizontal range where sellers’ territory is.

Price action has started forming a U shape so we could potentially see the formation of the cup and handle pattern out of which the handle would be the start of the 3rd wave out of the higher degree impulse.

If another correction takes place and we are not seeing the start of the 3rd impulsive move, then another 5th correction is to take place before it does, which means that the price of Ripple could go up again for one more lower higher before it does.

Bitcoin Cash BCH/USD

From yesterday’s high at $132.3 the price of Bitcoin Cash has fallen by 2.77% to its lowest point today at $128.7 but has managed to recover slightly as its currently sitting at $131.

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On the 15-min chart, you can see that unlike in the case of other cryptos analyzed the price action on the Bitcoin Cash chart has created a symmetrical triangle. The price is currently sitting at its median point and is getting close to the apex which means that a breakout is to be expected soon.

As the wave structure implies the breakout will most likely be from the upside as the Y wave out of the Minuette WXY correction should develop fully and count go above the horizontal support/resistance at $135.3 but only for a while as more downside would be expected from there as a trend continuation from a higher degree impulse.

We could see further prolongation of the mentioned correction but that would be unlikely considering the momentum behind the Monday’s sell-off I think that a decisive move is coming very soon.

Cryptocurrency Market Update:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, EOS): Feb 28, 2019

Bitcoin BTC/USD

From yesterday’s high at $3928 the price of Bitcoin has decreased at first by 4.16% as the price dipped to $3764 at its lowest point. After the price fell it quickly came back to the levels around yesterday’s high where it is currently sitting.

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On the hourly chart, you can see that the price came down to the baseline support which is the most significant trendline of them all as it is the support line from the start of the bear market where interaction was made in order to retest it for support.

The support was there judging by how fast the price came back and that of an equal amount which is potentially why the price is now staying steadily at the same level from which the decrease was made.

Previously we have seen a strong downward momentum which indicates that the sellers’ have been triggered but the current ascending channel that was formed after might serve as a recovery point.

The struggle between the buyers and the sellers and the uncertainty the market has been overruled by has caused stagnation which could be prolonged until the weekend when we might see the first decisive move.

Considering that the 5-wave impulse ended and with it the WXY correction according to my count we are either seeing the prolongation of that correction or the start of the trend continues to the downside, but judging by the current structure and how corrective it looks the first scenario looks more likely.

If we are seeing the prolongation of the correction that started around 15th of December last year, what we are currently seeing is the second wave X which then started on Sunday when the first significant decrease was made, but that also means that the Z wave to the upside should develop after so another increase beyond the prior high could happen before the expected trend continuation which we will soon verify.

Ethereum ETH/USD

From yesterday’s low at around $138 we have seen an increase of 3.84% at first, after which the price started moving to the downside fast and came to $128.88 at its lowest point but managed to recover equally quick and came back to above $140 level where it is currently sitting.

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Looking at the hourly chart, you can see that the impulsive move to the upside ended as I have counted 5 waves so after the price interacted with the ending point of the Fibonacci retracement around $170 area it started its retracement and found support around the 0.618 Fibo level around which an ascending channel started forming.

Yesterday we have seen a huge spike to the downside but the movement ended as a fakeout as the price quickly came back inside the territory of the channel and has been hovering around its support since.

You can see my projected WXY count which I haven’t readjusted on purpose as I am still unsure whether or not the yesterday’s decrease was the X wave’s ending point or was the decrease made as the correction ended.

In either way, I would be expecting more sideways movement with a potential increase if the Y wave hasn’t ended after which a decrease should occur, as according to my count a Y wave of an Intermediate degree ended and we are seeing the start of the trend continuation.

XRP/USD

From yesterday’s open at $0.324 the price of Ripple has decreased at first by just over 4% as it came down to $0.3109 at its lowest point yesterday but like in the case of Bitcoin and Ethereum managed to pull back up equally strong as it came back to around the levels from which the majority of the decrease has been made and is currently sitting at $0.31808.

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On the hourly chart, you can see that after Sunday's decrease, the price of Ripple has come back up, trying to make up for the loss previously made but the price came lower than the Sunday’s high as it encountered resistance around those levels.

This propelled the price in a downward trajectory again which looks corrective in nature and I have counted the first 5-wave correction and now the second 3-wave correction in the opposite direction which is why now I would be expecting more downside for the price of Ripple as either another third consecutive correction is to take place or the trend continues.

The price dipped to the horizontal support level at $0.3057 which is the previous impulse wave’s 4th wave ending point and was serving as support on Monday’s decrease where the price landed and managed to start increasing again, but I don’t believe that it will hold for much longer as it already stopped out two powerful attempts and the longer the pressure is put on the level the weaker it would get.

This is why I would be expecting to see now a breakage of the mentioned horizontal level and further decrease but we could also see the current three wave correction currently labeled as an ABC prolonged in which case the price could get up to form another lower high before the further downfall.

EOS/USD

Unlike in the case of other cryptos, from yesterday’s open the price of EOS has only been increasing and has managed to come up by 6.37% at its highest point today as it came from $3.4588 to $4.679 but has retraced since slightly and is currently sitting at around $3.6 level.

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On the hourly chart, you can see that the price is interacting with the 0.5 Fibonacci level, retesting it for resistance from the downside. As it does serve as strong resistance I would be expecting a rejection soon which will propel the price further to the downside but with potentially going quickly above it on the current Subminute 5th wave.

As you can see, according to my count the move to the downside we have seen ending on Monday was most likely the first impulsive move out of the expected trend continuation in which case the current structure could be the second corrective wave which would be a three wave correction out of which the third Y wave is the 5-wave upswing.

This is why after the price interacts further with the 0.5 Fibonacci level and attempts to go above it we are most likely going to see another downfall as the sellers’ could get triggered but the upswing.

Current Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 27, 2019

Bitcoin BTC/USD

From yesterday’s open at $3932 the price if Bitcoin has been moving sideways, decreasing at first to $3880 at its lowest point today which was a decrease of 1.33% but started increasing after and is currently only around the same level as on yesterday’s open.

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Looking at the 15-min chart you can see that the price action has created an ascending channel both a major once (labeled with a blue outline) and a minor one (labeled with an interrupted black line) inside its territory.

The price is currently interacting with the resistance of the minor channel which is why I would now be expecting a decrease to its support line or even spiking further down in order to activate buying necessary for another attempt of a breakout to the upside making a higher high inside the major channel.

According to my count, this move would be only correctional as the price previous decreased impulsively much like we have seen immediately after the decrease labeled as the first orange ABC. As the price decreased afterward in the same three-wave manner we are most likely seeing the third consecutive correction which would be to the upside and potentially retest the horizontal resistance at $3994.4 before further trend continuation.

A breakout to the downside is expected from here as the ascending channel is most likely the second corrective wave after the first impulsive out of the 5-wave impulse to the downside which started as previously the Intermediate WXY correction ended.

Ethereum ETH/USD

From yesterday’s open at $142.35 the price of Ethereum has been decreasing at first as it came down by 3.12% to its lowest point today at $137.91 but since it came to those level the price started increasing again and has managed to come above yesterday’s open level but only for a short time as it didn’t stay long at $143.2 before falling again to $141.

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This sideways movement was the end of the symmetrical triangle in which the price was consolidating after the initial decrease ended on Monday’s open and as the price got near to its apex a breakout from the upside occurred but the breakout was short-lived as the momentum behind the increase came to a stop just in the last couple of hours when the price started decreasing again.

Looking at the 15-min chart you can see that the price action is starting to create a similar formation like on the higher time-frames as we have seen an Intermediate WXY correction after a strong decrease similarly to what can now be seen on a lower time-frame after the Intermediate Y wave ended which could serve as an indication on where the market is going next.

According to my EW count, the price could continue its started increase but only for a little while as the price has some significant resistance point above it out of which the validation of the ascending channels resistance line would be an optimal possibility before we see further trend continuation as it would be an interaction with the mentioned level and would end as a rejection.

This would be enough to set the price of in a downward trajectory and with so much uncertainty I believe that will set off an overreaction as the market participants could get triggered for another round of selling as they have seen the price of Ethereum decrease of about 20% on Sunday.

This would be the beginning of the 3rd impulsive wave to the downside which is known to be the most powerful so the expected price decrease exceeds the seen chart but if this is true then the price is definitely going below the 0.618 Fibonacci level which for now still serves as a support.

Ripple XRP/USD

From yesterday’s open at $0.336 the price of Ripple has been decreasing and came down by 5.42% to the lowest point today at $0.31786 which was an interaction with the minor uptrend support line.

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Since the interaction, the price started increasing again but is still below the 0.236 Fibonacci level which serves as resistance and is most likely going to serve now again.

I am still not sure what the current structure is going to ends as but correctional movements could be seen everywhere which is why I believe that this whole structure is the second corrective wave out of the higher degree impulse as the C wave of a Minuette count ended below the begining point of the Sunday’s decrease which would be the first wave of the presumed impulsive move.

This count presumption still needs further verification which is why I still haven’t been labeling it on my charts but looking further into the price action of Ripple and how the market participants are behaving we are likely to see further correctional prolongation in the case of Ripple before any decisive moves.

Bitcoin Cash BCH/USD

From yesterday’s high at $136.4 the price of Bitcoin Cash has decreased at first by 4.86% coming to $129.7 at its lowest point today but like in the case of other cryptos another minor increase has been made and the price is currently sitting at $131.7.

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On the 15-min chart, you can see that the price of Bitcoin Cash has started putting pressure on its minor uptrend support line out of the current ascending channel in which it is consolidating after a strong decrease so we might see a breakout to the downside any moment now.

However I don’t believe that we will as the wave structure implies that the price would most likely increase at first as the Minuette WXY correction is to fully develop its Y wave.

This will result in a rejection which would propel the price into further downside trajectory with new lower lows ahead as according to my count this ascending channel is only corrective in nature.

Cryptocurrency Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 26, 2019

Bitcoin BTC/USD

From yesterday’s open at $3828 which was also the lowest price has been we have seen an increase of 3.57% at first as the price came up to $3965 to its highest point yesterday but started falling down again and came down to $3864 at its lowest point today from where another minor increase has been made and the price is currently sitting at around $3911.

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On the hourly chart, you can see that this sideways movement that we have seen from yesterday’s open has created an ascending channel in which the price is consolidating after the Monday’s downfall and is trying to recover for the loss made.

The price has landed on the most significant support line which is the baseline support dating since the beginning of the bear market and found some support there which is why this ascending channel has been formed above it.

The baseline support has been broken on a downfall from $6500 area after which we have seen a correctional movement out of which this last increase was its ending point as I have counted 5 waves to the upside, and now that it has ended we are most likely seeing the start of the expected trend continuation to the downside.

If this is true then the yesterday’s decrease would be the first impulsive wave and this ascending channel that has started to form would be the second, correctional wave, which is why after it ends another downfall would be expected.

As the horizontal resistance level at $3994.4 is close to the apex of the ascending channel we could see the price retest the level from the downside ending as a rejection which would propel the price in a further downfall.

Ethereum ETH/USD

From yesterday’s open at $135 which was also the ending point of Monday’s downfall we have seen an increase of 7.26% at first as the price came up to $144.85. From there the price started falling down again but managed to stay above yesterday’s low making a higher low at $138.67.

The price is currently sitting at around $139.5 level and is getting close to the apex of the newly formed symmetrical triangle seen on the hourly chart below.

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The price managed to stay above the 0.618 Fibonacci level which serves as support but this could only be temporary as the symmetrical triangle could be interpreted as a bearish pennant which is known as a trend continuation pattern.

As the price came close to its apex we are going to see a breakout soon and considering that we are seeing a symmetrical triangle a breakout from both sides is equally possible. The sellers’ momentum shown on Sunday definitely indicates that more downside should be expected but we could see an increase at first as a breakout from the mentioned triangle on the upside in which case it would be a correctional wave 2 of the impulsive move to the downside out of which the Sunday’s decrease would be the first wave.

Previously the Intermediate Y wave out of the WXY correction that started on 15th of December ended so this expected decrease would be a trend continuation according to my Elliott Wave count, but we could see a further prolongation of the mentioned correction.

If the correction gets prolonged we could see further sideways movement in which case the now developing structure would be the second wave X after which a final increase could be made on the Z wave.

In either way, the price of Ethereum has most likely ended its bullish period which is why now we are to see the further downfall.

Ripple XRP/USD

From yesterday’s open at $0.304 the price of Ripple has increased by 13.42% measured to its highest point at $0.34481 yesterday but when it came up to those levels the price started depreciating again and came down to $0.3239 at its lowest point today.

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The price of Ripple is currently in an upward trajectory and is sitting at around $0.329 but as the price action started forming another descending structure after yesterday’s increase I wouldn’t expect it to go for much longer up.

If the Intermediate Y wave ended and according to my count it did, we are seeing the development of the impulsive move to the downside as a trend continuation, out of which the yesterday’s increase would be accounted as the second, corrective wave.

I have labeled my projection unlike on other charts as the price of Ripple has given some indication yesterday on whether or not it is heading further up, but I don’t believe that the downfall would be in a straight line like depicted on the above chart.

You can see that I have labeled with an azure rectangle the recent area in which the price action resembles the current one which could indicate the type of structure that should now be expected, but the projection outlines some of the significant levels that should be looked out for.

Bitcoin Cash BCH/USD

From yesterday's open at $126 the price of Bitcoin Cash has increased by 8.8% measured its highest point yesterday at $137.3 but like in the case of other cryptos it started decreasing again and came down to $131 making a higher low.

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Looking at the hourly chart we can see a similar chart pattern like in the case of Bitcoin as the price action created an ascending channel by the recent sideways movement.

By further examining the wave structure inside the ascending channel I have come to a conclusion that it correctional so after its completion, I would be expecting a breakout to the downside which would most likely be the third wave of the impulsive decrease which started on Sunday.

The third wave cannot be the shortest which is why an even stronger downfall is to occur if my count is correct and the most optimal target for its completion would be around $106 area.

Current Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 25, 2019

Bitcoin Price Analysis (BTC/USD)

Over the weekend the price of Bitcoin has increased at first as it came up from $4023 up to $4277 at its highest point on Sunday which was an increase of 6.31%. From there it started falling down fast as it came to $3832 which is a decrease of 10.41% and has been hovering around those level since.

Looking at the hourly chart, you can see that the price came to my target area of around $4300 where the horizontal support zone is serving as resistance on the 5th wave to the upside which is why this downfall was expected to develop.

Currently, the price is hovering around the most significant support line which is the baseline support from the start of the bear market and was serving as strong resistance on the way up, but the momentum was there in order for the price to go past it.

Now that the price has started falling again it is again serving as support but since the level was broken on the way up without any hesitations and rejections – pushing the price for a retracement, it probably won't hold as support for much longer especially considering the momentum shown by the sellers’.

The price action formed what is known as a lower leg and it usually indicates consolidation before a trend continuation which is why now especially considering that the Intermediate Y wave ended we are most likely to see more downside for the price of Bitcoin with news lows ahead as this recovery was only correctional according to my count which got validated numerous times.

We could see the Intermediate WXY correction prolongation which would result in further sideways movement with a potential of another increase on the Z wave, but considering the momentum shown by the sellers,’ it has most likely ended in which case we are seeing the start of an impulsive move to the downside as a trend continuation.

Ethereum Price Watch (ETH/USD)

From Friday’s open when the price of Ethereum was around $146 at the open we have seen an increase of 16.38% as the price came up to around $170. From there the price started falling fast like in the case of Bitcoin and came down to $135 area where it is now which is a decrease of 20.5%.

On the hourly chart, we can see a similar pattern like in the case of Bitcoin as the market is strongly correlated and is similar to the chart of other major cryptocurrencies. The price came up to the prior high level of the Intermediate W wave where the ending point of the Fibonacci retracement tool is and found resistance there which propelled the price in a downward trajectory.

The 5th Minor impulse wave has ended and with it the Intermediate Y wave which is why this downfall would be the next logical step in the price progression. Considering what has been said for the price of Bitcoin and the fact that the market is strongly correlated we can say that the price of Ethereum is sharing a similar outcome.

Now that the Intermediate Y wave ended we are most likely seeing the start of the first impulsive move to the downside which is the expected trend continuation of the correction ended, or we are seeing the prolongation of the mentioned correction but in either way, I would be expecting more downside for the price of Ethereum in the following period with sideways movement and finally a lower low or at least a retest of the previous one at $83.

Ripple Coin Forecast (XRP/USD)

From Friday’s low at $0.32207 the price of Ripple has increased by 8.53% as it came up to $0.34955 area on Sunday’s high from where it started decreasing and came down to $0.30407 at its lowest point today which was a decrease of 13%.

The cryptocurrency is currently being traded at around $0.30858 slightly higher than its lowest today but also slightly lower than its highest point today at $0.30941.

On the hourly chart, you can see that the price of Ripple came up to the 0.382 Fibonacci level from Friday’s low which was the ending point of the 4th wave out of the Minor 5 wave impulse wave, and came up to the vicinity of the 3rd wave ending point.

Since the price found strong resistance there and the impulsive move ended the sellers’ have started pushing the price down fast and a breakout to the downside occurred from the horizontal range between the Fibonacci levels which served as support.

The price is currently sitting around the levels of the 2nd wave’s support line but considering the momentum behind the downfall and the fact that the 2nd wave’s support line isn’t that significant we could expect to see a further decrease from here.

Bitcoin Cash Market Prediction (BCH/USD)

From Friday’s low at around $140 the price of Bitcoin Cash has increased by 12.5% as it came to $157 at its highest point on Sunday but following the correlated market moves it too started decreasing fast from there and came down by 19.58% to its lowest point today at $126.2.

Looking at the hourly chart we can see that the 5th wave ended as an interaction with the horizontal resistance level at around $155 from where the price started impulsively moving down. The price currently in an upward trajectory trying to make up for the loss made but since it fell below the $135 horizontal support level it is likely going to retest it from the downside for resistance now and will end as a rejection.

The price previously broke out from the descending channel in which it was correcting since 24th of December last year but as this descending structure was the Minor WXYXZ correction and the X wave of a higher degree this bullish upswing was the Y wave from the Intermediate count, and as it now most likely ended we are seeing the start of the trend continuation which is why after this small consolidation I would be expecting further downfall from the price of Bitcoin Cash.

Author: Nikola L


Crypto Price Analysis (ETH, XRP): Feb 23, 2019

Ethereum and XRP have been fighting for the second spot based on market cap ever since XRP first surpassed it back in September of last year. At the time of writing Ethereum is in second place at $16.2 billion market cap vs XRP that is only $3 billion behind at $13.3b in market cap.

As always, this is a good time to mention that depending on who you ask, CoinMarketCap doesn’t necessarily display the correct XRP market cap because they do not account for those coins held in escrow by the Ripple team. Nevertheless, both cryptocurrencies bring value in different ways which is the reason they are in the top 3.

When looking at the trading volume of both ETH and XRP we notice that there is much more activity with the former crypto. Ethereum boasts trading volume of over $3.8 billion in the past 24 hours, while XRP comes in at $487 million, almost one tenth that of ETH. Furthermore, it looks like ETH is traded at 400 exchanges while XRP is only traded at 328.

While the difference in the amount of cryptocurrency exchanges doesn’t seem significant, what does seem interesting is how there are over 90 exchanges for which ETH has a trading volume of over $10 million, compared to XRP which only includes 17 exchanges.

Another surprising statistic is that the top pair for ETH’s volume is ETH/USDT on LAToken, which based on overall trading volume ranks at #17. XRP’s volume makes more sense as its top trading pair is XRB/BTC on the ZB.com exchange which ranks at #3 based on volume.

Ethereum Price News

When it comes to recent ETH news, one major event that is coming up is the long awaited Constantinople fork. The upgrade is planned for block 7,280,000, which is estimated to happen sometime on Feb. 25th. As a result of the upcoming fork, long positions for ETH have increased in anticipation for the network upgrade. That definitely explains the 4% rise for ETH today as most other cryptocurrencies, including XRP are remaining dormant.

XRP Price News

XRP is making headlines of its own with a recently released interview with Prajit Nanu, the Co-Founder and CEO of InstaRem – a cross border payment provider.

When asked about current problems with cross border payments, Prajit said: “There are two key issues associated with them. It’s cost and speed. [] A lot of people are trying to solve the cost problem, [] but the speed problem is the key one which needs to be solved”

Nanu goes further to clarify that RippleNet is “one of the fastest growing partnerships we have.” He goes on to clarify that they are adding customers across multiple markets such as a bank in Malaysia, a bank in Thailand.

RippleNet is Ripple’s blockchain system which aims to help companies with cross border payments. It has proven to be extremely successful with the amount of partnerships it received. RippleNet is one of the biggest reason for Ripple’s and XRP’s success and what brought it to the top 3 market cap position.

Final Thoughts on Ripple and Ethereum Battling for #2 Spot

While both Ethereum and Ripple are fighting for the top 2nd spot, both cryptocurrencies are tackling different markets. As such, the competition between them is healthy and beneficial to the crypto industry overall.

Author: Mark A


Crypto Price Analysis (BTC, ETH, XRP): Feb 22, 2019

Bitcoin BTC/USD Market

From yesterday’s high at $4065 the price of Bitcoin has fallen at first by 1.74% to $3982 at its lowest point yesterday from where the price started increasing again and is currently sitting at $4039.8.

Click above to see the full-size image.

Looking at the 15-min chart we can see that the price action has started creating an ascending channel which can be interpreted as consolidative range similar to what we have seen after the first significant increase was made on 8th of February.

According to my count, this is the 4th wave after the second increase has been made this week so another increase would be expected from here when this consolidation ends. In theory, the 4th wave could go down to retest the 1st wave’s ending point which would bring the price of Bitcoin down to $3783 before another increase to the upside is made, but considering the momentum behind the bullish move, I don’t believe that this 4th wave would be that deep.

Most likely we are to see further sideways movement inside the ascending channel before the price starts increasing again similar to what we have seen on Ethereum’s chart after the first impulsive move as the price action also created an ascending channel afterward.

For these reasons, the most optimal target for the 4th wave would be a retest of support on the bold black line which was the most significant resistance to the upside before another increase starts developing whos target I see fit at the horizontal support zone which now serves as resistance out of which its lower level is at around $4300 area.

Alternatively, we could have seen the end of the recovery wave Y of the Intermediate count if the previous Minor correction ended with a three-wave Z wave which you can see on the hourly chart below

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In either way, after the Y wave ends I would be expecting more downside for the price of Bitcoin as this movement was correctional according to my count but would be reevaluated after the price starts pulling back.

Ethereum ETH/USD Market

From yesterday’s high at $152.5 the price of Ethereum has fallen at first by 4.21% measured to its lowest point today at $146.06 but has managed to recover since as its currently being traded at $150.56.

Click above to see the full-size image.

On the 15-min chart, you can see that the price action created a symmetrical triangle from which the price broke out today but was again stopped out at the 0.786 Fibonacci level like it was on at the end of the 3rd wave of the impulsive move that started on 8th of February.

You can see that after the 1st wave ended an ascending channel was formed much like what we are currently seeing developing in the case of Bitcoin which could indicate further price increase for this cryptocurrency as the chart patterns indicate similar behavioral patterns.

Now that that the price of Ethereum has encountered the same resistance point and started getting rejected there (indicated by the price wicks from the upside on the current candles) we are most likely going to see the price fall down to the still unconfirmed descending channel.

The 4th wave could push the price significantly lower but I don’t believe that it will considering the momentum shown in the past period. Most likely we are to see a small pullback before another increase as the 5th wave should start shortly.

The most optimal price target for the expected increase would be at around $158 are but we could see the interaction with the 1 Fibonacci level, depending on the momentum, which is the ending point of the first impulsive increase that lasted until 2th of December last year.

Since the Intermediate X wave ended 24% than the start of the W wave (the mentioned first impulsive move) we could see the Y wave easily exceeding the W wave’s ending point which is at $156.

If the price of Ethereum exceeds the W wave’s ending point the target could very well be at around $194 are where the 1.272 Fibonacci level is an would be 24% higher than the W wave’s ending point.

Ripple XRP/USD Market

From yesterday’s high at $0.33971 the price of Ripple has fallen at first to by 5.76% to its lowest point today at $0.32014 but the price started increasing again and is currently sitting at $0.32740.

Click above to see the full-size image.

On the hourly chart, you can see that the 4th wave has interacted with the 1st wave’s ending point which could be expected in the case of Bitcoin and Ethereum as the price of Ripple broke out from the descending triangle on the downside.

The price has fallen below the 0.236 Fibonacci level but found strong support below (indicated by the big green candle) and has managed to come above it in an ascending manner.

As the 3rd wave ended this 4th wave retracement was expected but it might not have ended as I think that this minor ascending structure is its continuation and that one more minor low would develop potentially ending on the same level as before retesting it for support before the final 5th wave starts.

The target for the 5th wave would be at the 0.5 Fibonacci level on in price terms around $0.3695 but it could also end around the vicinity of the 3rd wave’s ending point at around $0.35 area.

After this increase has ended, more downside would be expected for the price of Ripple like as like in the case of other cryptos, according to my count, this upside movement was only correctional

Crypto Market Update:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, LTC, EOS): Feb 21, 2019

Bitcoin BTC/USD

From yesterday’s low at $4054 the price of Bitcoin has fallen by 1.52% as its currently being traded at $3994. The price has spiked up today to $4138 but the rise ended quickly as it came up leaving a wick on the hourly chart.

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On the hourly chart, you can see that the price of Bitcoin managed to go past the bold black line which was the most significant resistance line to the upside and interaction with the 0.786 Fibonacci level was made today but only as a quick spike.

This was expected as the price was still in an upward trajectory inside an expanding ending diagonal which indicates top but also an attempt from buyers to keep up the momentum going. Since the interaction with the upper resistance line of the current range, the price has started falling again as the selling was triggered and the price is currently sitting on the $3994.4 horizontal support level where it is looking for support.

The support where isn’t going to hold for much longer as the level isn’t that significant and as the impulsive move to the upside ended a retracement is now expected for the price of Bitcoin, which would most likely end as an interaction with the bold black line.

The wave structure implies that another increase should be expected as the 5th wave is to develop, but considering that the Minor correction’s ending point is still unclear we could have seen the end of the 5th wave.

Depending on the depth of the correction we are going to see if the price has ended its upward trajectory or are we going to see one more increase in a form of the correctional wave’s prolongation.

Ethereum ETH/USD

From yesterday's high at $151.93 the price of Ethereum has been decreasing and is currently 3.61% lower as its being traded at $146.89 at the moment.

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On the hourly chart, you can see that the price of Ethreum has started its retracement in a form of a descending channel which is still unconfirmed as another interaction with its support line is expected before a confirmation.

The price has started moving sideways slightly to the downside which is an early sign of consolidation that is set to push the price higher after it ends. The depth of the correction is still unknown but first, the most optimistic target would be at the $141 area where a minor cluster was formed when the price was in the upward trajectory.

The second and the most optimal price target would be at the 0.618 Fibonacci level where some support could be found, but if not the most pessimistic target price before my count get invalidated would be at the 0.5 Fibo level.

After the 4th wave ends one more increase would be expected as the 5th wave should start developing to the upside which would mark the end of the Intermediate WXY correction and the trend continuation should start as the price would continue moving to the downside with new lows ahead.

If the correction gets prolonged by two more waves we might see further increase before this expected trend continuation but on that in due time.

Litecoin LTC/USD

From yesterday’s high at $53.685 the price of Litecoin has fallen by 8.93% today measured to its lowest level today at $48.891. The price is currently sitting a bit higher as it is searching for support on the lower level off of the resistance zone but hasn’t managed to pull back up which is why it is likely heading down now.

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Looking at the hourly chart you can see that the price of Litecoin has met my target as the 5th wave fully developed it came up to the horizontal support zone's median line now serving as strong resistance. The horizontal range has been entered but since the interaction with the median line yesterday, the price has quickly started falling and came down by 6.76% in a matter of hours, indicating that the price has indeed entered the sellers' territory.

Considering the fact that I have counted the end of the impulsive move and the fact that the price has come inside the resistance range we are likely to see a retracement now. For now, the entire structure has been labeled as a Minor WXY correction and if it ended on the Y wave we are now going to see a continuation which is why new lows could be expected for the price of Litecoin, as this was only a minor recovery.

The recovery might not have ended as we could see a prolongation with two more waves, but in either way when it ends, I would be expecting new lows. Currently, the price has found support on the horizontal range lower level so if the support isn't there we could see a breakout to the downside today.

EOS/USD

From yesterday’s high at $4.06 the price of EOS has fallen by 6.4% to its lowest point today at $3.7464 when the price fell quickly and steeply.

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Looking at the hourly chart you can see that the wave structure looks similar to that of Litecoin as the 5th wave to the upside was most likely ended and with it the Intermediate Y wave out of the WXY correction. Now a retracement should be expected as the price increased by 151.8% in total from the start of the correction when the price of EOS was $1.57 at its lowest point.

The downside move that is now expected could be either a prolongation of the mentioned correction in which case we are going to see another increase before it ends as the Z wave should develop to the upside or the correction ended which is why now we are going to see a continuation.

The 0.382 Fibonacci level would be the first significant support line so if it holds we could be seeing the second X wave, but if the price manages to go below it the most likely scenario is that the correction ended and that further lows would develop.

Current Crypto Market

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 20, 2019

Bitcoin BTC/USD

From yesterday’s open at $3971 the price of Bitcoin has been increasing slightly in a sideways manner and came to $4083 at its highest point today but has come down since and is currently sitting at $4024 which is an overall increase of 1.35%.

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Looking at the hourly chart you can see that the price of Bitcoin broke the baseline support line which served as resistance and is in conjunction with the upper descending trendline forming a falling wedge on a higher degree time-frames inside whos territory the price has now entered.

The price is above the horizontal level at $3994.4 and the 0.618 Fibonacci level but the interaction with the 0.786 Fibonacci level still hasn’t been made which is why I would be expecting from here another minor increase to $4129 before a minor retracement as the 4th Minor impulse wave should start developing.

In theory, we can the price back for interaction with the bold black line as a retest of support before further upside movement which would be around the vicinity of the 1st wave’s ending point. This could only occur if the price is set for another week of stagnation as we saw after the first impulsive move.

The price has increased by more than 18% in the last 12 days so another prolonged consolidation for the 4th wave before another impulsive increase would be very likely, although considering the momentum that was shown there still isn’t any reasons to believe that a retracement would be that deep.

After the mentioned retracement one more wave to the upside is expected as the last 5th impulse wave should develop and it could end on the 0.786 Fibonacci level if the price doesn’t interact with it on the current increase.

If the price doesn’t get stopped there the next potential target would be at around $4300 area where the falling wedge resistance line is intersecting the horizontal resistance zone’s lower level.

Ethereum ETH/USD

From yesterday’s open at $152.93 the price of Ethereum has fallen at first to $144.66 but has managed to pull back up to $151.4 and since then it has fallen again and is currently sitting at $148.94.

Click above to see the full-size image.

On the hourly chart, you can see my projection in which I am would be now expecting a retracement after one more upside move which would be the 5th impulsive wave out of the Intermediate Y wave.

Now that the price has reached the 0.786 Fibonacci level and found resistance there it started pulling back and has already created a lower high and a lower low. I have outlined to now still unconfirmed descending channel in which I believe the majority of the correction will take place but this will be re-evaluated after some further price action development.

In theory, we could see that the price go all the way down to the 0.5 Fibonacci level on the 4th wave to the vicinity of the 1st wave ending point but considering the momentum shown I don’t believe that it would be past the 0.618 Fibonacci level before the end of the 4th wave which would in price term be at $137 which be the most optimal target.

The most optimistic target for the ending point of the 4th wave would be at around $141.2 area where the minor cluster was being formed.

Ripple's XRP/USD

From yesterday’s high at $0.34966 the price of Ripple has fallen by 6.21% measured to the lowest point today which was at $0.32794. Since then, the price has recovered slightly as it came to $0.34212 at its highest point today but fell again and is currently sitting at $0.33361.

Click above to see the full-size image.

On the hourly chart, you can see that the price action has started forming some kind of a triangle either a symmetrical one or a descending one which we will soon see but my yesterday’s projection is proving to be true as we are most likely seeing the development of the 4th wave out of the 5-wave impulse.

The price is currently sitting on the unconfirmed trendline so we are going to see if it serves as a support or not, but eventually, I think it would be broken as the corrective moves look steep and aggressive.

The 4th wave’s ending point would optimally be at around the 0.236 Fibonacci level or in price terms at $0.325 where the price made a spike already on today’s open. After it ends another increase to the upside is expected as the 5th impulse wave is set to push the price higher than the previous 3rd wave’s ending point but the target for its ending point would depend on the depth of the 4th wave’s retracement.

Bitcoin Cash BCH/USD

From yesterday’s open when the price of Bitcoin Cash was $147.7, we have seen a decrease at first of 6.08% as the price fell to $138.7 on today’s open. From today’s open the price has started increasing again and came up to $146.4 at its highest point today where it encountered resistance making a lower high compared to the yesterday’s and the price has fallen again to the levels on which it is currently being traded at $143.4.

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Looking at the hourly chart you can see that the impulsive move has ended its 3rd wave and the price action is starting to form a descending structure which most likely is the 4th wave correction.

The price is currently in a downward trajectory so we might see an interaction with the still unconfirmed lower support line for a confirmation, but a further sideways movement is highly likely now that the price has ended its most powerful impulse wave.

Like I said in the cases of other cryptos the 4th wave could, in theory, push the price all the way down to the vicinity of the 1st wave’s ending point, but considering the bullish momentum that was exuberated over the last week and a half I don’t believe that we are going to see it go by that far.

The most optimal target would be at around $135.3 where the horizontal support level of the now entered price range is.

After this retracement ends more upside is expected as the last 5th wave should develop whos target I see fit at around $165-6 area, but highly depends on how the current retracement ends.

Cryptocurrency Market Update:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, EOS): Feb 19, 2019

Bitcoin BTC/USD

From yesterday's open at $3708 the price of Bitcoin has increased by 7.68% as its currently being traded at around $4010 where the price has encountered resistance around the $3994.4 horizontal resistance level.

Click the image to see it in full-size.

Looking at the hourly chart you can see that the price broke out from the descending channel in which it was retracing since the first increase to the upside was made on Friday 8th. The retracement was more of consolidation since we have seen it throughout the last 10 days.

Strong momentum was shown as the price broke out many of the significant resistance points to the upside from which the most significant one is the bold black line which is the baseline support since the start of the bear market and was serving as resistance when it got broken on 21th of November last year.

The price is currently inside a horizontal range between the 0.618 Fibonacci level which serves as a support and the horizontal resistance at around $4000 which is why we are seeing a cluster starting to form as the price is consolidating again after an exponential increase. If the price wants to continue the upward trajectory it needs to retest some of the broken resistance levels for support and since the bold black line was the most significant resistance point we could likely see a pullback to its level potentially in a form of a descending triangle or a channel like we saw after the first impulsive increase.

Since my primary count got validated in which the Minor WXYXZ correction which was the Intermediate X wave, this increase from the Friday 8th is considered the Intermediate Y wave. If this is true then a five-wave structure is to develop out of which we are currently seeing the 3rd wave. This current increase which is considered the 3rd wave may not have ended so we are soon going to see a confirmation in a form of a direction of a breakout from the current range.

Ethereum ETH/USD

From yesterday’s open when the price of Ethereum was $136 at the open measured to its highest point today at $153.12, we have seen an increase of 12.56%.

Click the image to see it in full-size.

Looking at the hourly chart you can see that the price of Ethereum has broken out from the ascending channel on the upside and managed to continue going beyond the 0.382 and the 0.5 Fibonacci retracement levels which both served as resistance points. This indicates strong momentum behind the upward movement as the price hasn’t even acknowledged the levels and just continued moving past then.

As the price encountered resistance at the 0.786 Fibonacci level we are likely going to see a retracement back to the previous one for support which correlates with the EW count as now the 4th wave should start. There is a possibility that the 3rd wave hasn’t ended and that a one higher could happen but even if that is to occur I don’t believe that the increase would be anything more than a quick spike above the 0.786 Fibonacci level.

This is only logical considering that the Intermediate Y wave that was started after the Minor WXYXZ correction ended is the continuation of the impulsive move that lasted until 24th of December last year. After this minor correction, more upside is expected as the 5th wave should start developing to the upside.

Ripple's XRP/USD

From last yesterday’s open when the price of Ripple's XRP was $0.30786 to today's spike at $0.3548, we have seen an increase of 15.29%. From today's spike, the price has fallen quickly leaving a wick from the upside on the hourly chart and is currently the upward trajectory at $0.34763.

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Looking at the hourly chart you can see that my Elliott Wave count implies that this was the end of the 3rd wave which is why now we are likely going to see some correctional movement much like what is expected in the case of Bitcoin.

Some significant resistance points have been broken, out of which the most significant one is the horizontal resistance at the 0.236 Fibonacci level and is why the ending point of the 1st wave which could be interacted with on the 4th that is expected to develop. Considering the momentum behind the increase I don’t believe that it will be likely that the depth of the 4th wave would be that far but there is a a posibility.

Most likely we are going to see a retracement to around the mid-range between the Fibonacci levels which would be around $0.3352 but in either way, another increase to the upside is expected from there as the last 5th impulsive move to the upside should start developing.

The price target for the expected completion of the impulsive move is still unknown but it could also be the ending point of the 3rd wave at the 0.786 Fibonacci level as the 5th wave could end on its vicinity. However, considering the momentum shown I believe that we are to see a higher high before the increase ends.

EOS/USD

From yesterday's open at $2.09 the price of EOS has increased by 32.5% measured to its highest point today at $3.847.

Click the image to see it in full-size.

On the hourly chart, we can see that the price of EOS has done what is expected in the case of Bitcoin and that is a full development of the Intermediate Y wave as I have counted the 5 waves to the upside. The price broke the major resistance point which is the horizontal resistance at around $3.278 and continued to the 0.5 Fibonacci level spiking even beyond it but since the price entered the sellers' territory an immediate pullback occurred.

As the 5-wave move has most likely ended for we are now going to see a retest of the broken resistance for support at least to the 0.382 Fibonacci level but if the Intermediate WXY correction ended and will not have any prolongations we might see a continuation of the previous downward move and new lows for the price of EOS.

Current Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 18, 2019

Bitcoin BTC/USD

From Friday when the price of Bitcoin was $3651 at its lowest point we have seen an increase of 6.89% measured to the current level of around $3900.

Click above to see the full-size image.

The price of Bitcoin broke out yesterday from the descending channel in which it was correcting since the first increase was made on Fridays 8th so we have seen a week of sideways movement which ended on Sunday.

As the price is currently interacting with the bold black line which is the most significant resistance point to the upside we are going to see if the momentum behind the increase is stronger then the now encountered resistance.

The momentum is in fact, strong but since the bold black line was pierced an interaction with the 0.618 could be expected at least before we see some correctional movements. The current increase is the continuation of the impulsive move that started on Friday 8th and is likely going to ends as a 5-wave impulse, out of which the current increase would be the third wave.

Considering the vicinity of the bold black line and the 0.618 Fibonacci level we could very likely see the 4th wave start to develop now around those resistance lines as its start could get triggered by that resistance.

Bullish momentum looks strong but this is considered still to be only a correction after a downfall from $6500 so I wouldn’t expect it to go for much longer.

We could see the price increase up to $4230 area but certainly not in a straight line so we will closely monitor and see what happens at these levels.

Ethereum ETH/USD

From Friday’s low at $122.47 the price of Ethereum has increased by just over 20% as its currently being traded at $147.77.

Click above to see the full-size image.

On the 15-min chart, you can see that a breakout to the upside occurred like expected which is why my primary count got validated as the ascending channel was a minor consolidation before the further increase.

What we are seeing is now definitely a continuation of the increase made until 24th of December which is why we are seeing an impulsive increase from the start of the day in the cryptocurrency market.

The price is currently interacting with the descending trendline which isn’t that significant like in the case of Bitcoin but still serves as resistance point which is why we are seeing the price having a tough time going beyond it and is most likely heading for a retracement now.

Considering that this was the third move and that we are most likely seeing the Intermediate Y wave which would develop as the 5-wave impulse the expected retracement potentially now triggered by the interaction with the descending trendline resistance point, would be the 4th wave. This means that another increase would be expected but that could only mean that the price of Ethereum is headed significantly higher.

From the depth of that retracement we are going to see if our expectations hold some truth but if that happens I wouldn’t be surprised if the price goes up to only to the 0.786 Fibonacci level which is slightly higher than the previous high.

Ripple's XRP/USD

Unlike in the case of previously discussed cryptos, the price of Ripple wasn’t at its lowest on Friday. Instead, the price of Ripple came down to its lowest yesterday, when it spiked down to $0.3018.

This spike might have served as a trigger of buy orders as the price immediately started increasing following the market in general and came up to $0.325 today which is an increase of 7.6%.

Click above to see the full-size image.

Looking at the 15-min chart you can see that today’s high was the interaction with the $0.236 Fibonacci level which serves as resistance. The price has broken out from its descending range as well and is currently in the upward trajectory but as like in the case of other cryptos we are likely going to see a minor pullback as the first significant resistance was encountered.

The price is on at the vicinity of the ending point of the first impulse wave to the upside which also serves as resistance so if the price is to continued moving upward strong momentum is needed, and considering that the price of Ripple has started another impulsive move the momentum is definitely there its just a question of are the sellers going to be stronger at the moment.

This increase was expected and is a continuation of the first Intermediate W wave that lasted until 24th of December so after it ends I would be expecting more downside or at least more sideways movement but in the meantime we are going to look out for the potential ending point of the increase.

If this is the mentioned continuation we could expect to see the price of Ripple to $0.418 even.

Bitcoin Cash BCH/USD

From yesterday’s low at $119.2 the price of Bitcoin Cash has increased by 11.68% and is currently sitting at around $133.3 area.

Click above to see the full-size image.

Looking at the 15-min chart you can see that a breakout occurred from the descending triangle and the price has come to my projected target area for the 5th Minute wave which was on the horizontal resistance line above at around $135.

Since a breakout occurred from the descending channel as well as the descending triangle we can say that the buyers have shown strength, but we could see that momentum extinguished for now as the price encountered another significant resistance point like in the case of other cryptos.

Now we are likely going to see a retracement which would be the second wave from a higher degree impulse and would serve as a retest of the broken descending structures before the prices are to continue moving higher to the upside.

How further the increase would last it is still unclear but either it has ended on today’s interaction with the significant resistance point which would be very unlikely considering the momentum shown, or we are to see more continuation in which case the upside potential would be to around 10% move from the current levels.

Current Crypto Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 15, 2019

Bitcoin BTC/USD Price

The price of Bitcoin is currently on the same level as on yesterday’s open as the price is currently sitting at $3680.

Click the image above to see it's full-size.

Looking at the hourly chart we can see that the price of Bitcoin has interacted again with the resistance line from the current descending channel in which it is correcting since the increase we have seen on last Friday.

The price is as I mentioned on the same level as on yesterday's open and is above the 0.382 Fibonacci level which could mean that the buyers are attempting another breakout and that we could, in fact, see it today.

Wave structure implies that a move to the downside should be expected from here before we wee a breakout and if that is true than the most probable target for that decrease would be to around $3600 area or even lower to around the next horizontal resistance which is now most likely serving as support at $3553.

The more this stagnation is lasting the more I believe that it was only correctional. If this is true then we could have seen the prolongation of the Minor WXYXZ correction with the last Friday’s increase being the second wave X and after this consolidation ends an impulsive move to the downside would develop as it would be the start of the wave Z.

If this was a retracement before further increase we would have seen a quicker move to the upside but as this stagnation is lasting for quite some time it could very likely be consolidation and not a retracement.

From the depth of the expected down move, we are going to see which scenario turns out to be more likely as if the price doesn’t go below the $3553 are most likely seeing a breakout to the upside, but if it continues moving lower than the possibility of the price heading for another low would increase.

Ethereum ETH/USD Price

From yesterday’s open at $123.4 the price of Ethereum has increased by 1.09% as it is currently being traded at $124.77.

Click the image above to see it's full-size.

Looking at the 15-min chart you can see that the price action ended the previously expected ABC correction as an ABCDE and formed a descending triangle, but unlike what is commonly expected in the case of the descending triangle a breakout from it happened to the upside.

This is probably since the descending triangle is a lower degree pattern than the ascending channel in which all of this sideways movement is occurring after an increase we have seen last Friday.

As the price is in the upward trajectory and with the third correction ended we might see a breakout to the upside but I don’t believe that this current increase that led to a breakout is the start of the trend continues to the upside. More strong momentum is to be shown in order to take that into account so I believe that most likely we are to see another interaction with the ascending channel’s resistance line before finally, the price would collapse back at first to the channels support and then breaking it to the downside.

This is more likely because if the price is to continue moving to the upside impulsively as it did on last Friday we would see a move develop much quicker, and considering that the price is struggling to move either to the downside or to the upside the momentum will most likely get extinguished and the those who bought are going to turn into sellers which would increase the sellers’ momentum needed for a breakout to the downside.

If this occurs I would still be looking at it as a retracement before a trend continued until it would fell below $117 area where the most significant horizontal support is at the 0.382 Fibonacci level is.

Ripple XRP/USD Price

The price of Ripple is like in the case of other cryptos very close to the level of yesterday's open as not much has changed today for the evaluation of the cryptocurrency market. The price is currently being traded at $0.3095 which is only 0.36% higher than on yesterday’s open.

Click the image above to see it's full-size.

Looking at the 15-min chart you can see that I have slightly readjusted the projection from yesterday but it stayed the same in the context term. The price has broken out from the descending channel but this price action movement reminds me of the time when the price of Bitcoin was getting close to the apex of the descending triangle around $6500 level and everybody was expecting a strong breakout, but a breakout hasn’t occurred, but instead the price just moved out in a sideways manner.

This, in the end, resulted in a collapse of price and strong momentum to the downside was shown, which is what I believe would happen now but on a smaller scale as the price target for the expected decrease would be at the prior horizontal resistance now serving as support at around $0.3 area.

After the move to the downside ends and it retests the prior resistance for the support we are going to see what happens but my primary count is still implying that we are to see further increase at least to the $0.325.

Bitcoin Cash BCH/USD Price

Like in the case of other cryptos the price of Bitcoin Cash hasn’t changed much but the new hourly candles that were formed in the meantime indeed have.

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Looking at the hourly chart you can see that I have outlined the similarities between Minute wave 2 and wave 4 which are both corrective in nature. I have been expecting a breakout to the upside but not before a retest of the wave 1 ending point or its vicinity but the higher degree Minor 1 wave ending point was interacted with which is why we might see an immediate breakout to the upside.

What was said in the case of other cryptos applies here as well – this stagnation could end in both ways but primarily I am expecting a trend continuation so more movement to the upside. This might not happen in a straight line as a pullback would occur as to establish support needed for the expected breakout and further trend continuation.

The current horizontal support level with whom the price has been interacting in the last few days may offer to provide the needed support so a breakout is also possible, but if the price goes below the horizontal level further price decrease would most likely happen and further lookout for support before the increase is to be made.

Current Crypto Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 14, 2019

Bitcoin BTC/USD Analysis

From yesterday’s open at $3687 the price of Bitcoin has increased at first to $3719.3 and fell from there to below the level of yesterdays open to $3652 at its lowest point today. The price is currently at $3658 which is an overall decrease of only 0.79% from yesterday’s open.

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Looking at the 15-min chart we can see that the price is still in a retracement zone which is turning out to be a descending channel. I have counted three ABC corrections out of which the current one is to the downside which constitutes a WXY of a higher degree.

As the price has been in an upward trajectory the descending channel is viewed as a retracement so after it ends more upside would be expected but before it ends we are most likely going to see some further sideways movement and a slight depreciation in price as the support needs to be established before the attempt to break the current resistance can be made.

If the price comes down again to the descending channels support that would be around $3615, but if it goes below the descending channels support we might see a decrease back to the 0.236 Fibonacci level at around $3500 area.

The price could crumble altogether if this increase was the continuation of the previous Minor WXYXZ correction although this is a lesser possibility. If that happens we are going to see a lower low compared to the now labeled Z wave which would, in that case, be the start of the Z wave, but for now, my primary count remains.

Ethereum ETH/USD Analysis

From yesterday’s open when the price of Ethereum was $125, we have seen a decrease of 1.41% as the price is currently sitting at $123.19. The price increased at first from the open and came up to the vicinity of the prior high at the 0.5 Fibonacci level where it retested the resistance and since it ended as another rejection that set the price in a more corrective movement to the downside.

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Looking at the 15-min chart you can see that the price has been experiencing sideways correction since the end of the impulsive move to the upside and similarly to the Bitcoin’s wave structure we have seen three consecutive ABC corrections with the price currently in the development of the third.

These three ABC corrections are probably the WXY of a higher degree count so another low would be expected from here as the last C wave should fully develop. The price target would be at the ending point of the Minuette W wave because the X wave has ended around its beginning so the correction would be a regular flat and is expected to end at $121-120 area.

If the price continues moving lower the next target would be the 0.328 Fibonacci level, but if it goes lower than that I would consider invalidating my count as according to the current one this is a retracement before further uptrend continuation.

Ripple's XRP/USD Analysis

The price of Ripple has decreased by 3.88% from the highest point yesterday at $0.319 measured to the level on which the cryptocurrency is currently being traded which is at $0.3072.

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On the 15-min chart, we can see that the price is still outside the territory of the falling wedge in which the price of Ripple as correcting since 24th of December like the other cryptos and is probably looking for support there around the levels of the prior resistance.

The price action has formed two ABC corrections and is likely forming now the third one which would retest the intersection of the falling wedge and the horizontal support level at $0.30177 before finally continuing its upward trajectory.

If the price goes lower than the mentioned level it might go back to the resistance line of the prior horizontal range from where the increase was made which would be at around $0.29757 but as strong momentum has been shown previously and the price is still outside the territory of the falling wedge I think that its more likely that a breakout occurred and that we are seeing the development of the Intermediate Y wave to the upside.

The price is now going to show us if the scenario gets validated or as we are going to see that from the current retracement – if the price finds support and continues moving to the upside again that would very likely mean that we are going to see further upside, but if the price enter the territory of the falling wedge again we are likely to see a lower low.

Bitcoin Cash BCH/USD Analysis

From yesterday’s high at $124.3 the price of Bitcoin Cash has been decreasing and is currently sitting at $120.3 which is a decrease of 3.31%.

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Looking at the hourly chart we can see that things haven’t changed much as the price is still inside the territory of the descending channel in which it is correcting since the 24th of December. According to my count, the Minor correction inside the mentioned structure has ended which is why the increase that started on last Friday is considered as the start of the impulsive move to the upside.

If this is true then the price of Bitcoin Cash can go below $118-117 area as it is the territory of the 2nd wave, so the level is serving as an indicator of validity. The price is currently in a retracement which is putting pressure on the descending channels resistance line so if my count is correct we are soon to see a breakout to the upside.

Like in the case of other cryptos this increase that we have seen started on Friday could be the prolongation of the Minor WXYXZ correction and if that is true than another low would develop as the Z wave hasn’t ended.

The expected increase’s target would be at $155 but that would only be the first target as if this is the start of the impulsive Intermediate wave Y we could see the price much higher.

Current Crypto Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 13, 2019

Bitcoin BTC/USD

From yesterday’s open when the price of Bitcoin was $3688 at the open the price hasn’t changed much as its only 0.26% lower and is sitting at $3679.

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Looking at the hourly chart, we can see that the price has fallen today for interaction with the minor descending channel support line but it was only a quick spike as the price immediately came up above the 0.382 Fibonacci level.

As the price is still inside the descending range we are still seeing a struggle between buyers and the sellers so a breakout is soon to be expected but the direction of a breakout is still unclear.

Considering the context – the price has increased previously with strong momentum and is currently hovering below the descending channel’s resistance (purple line) which mean that the buyers are still putting pressure, a breakout to the upside looks more likely.

Looking at the wave structure inside the current descending range I see two consecutive corrections – one to the downside and one to the upside which was ended, so if another correction develops of the same degree it would be the third correction to the downside after which a breakout to the upside should occur, but there isn’t any more sideways movement inside the mentioned range we are immediately to see the start of move to the downside as the correction to the upside ended.

Ethereum ETH/USD

From yesterday’s open at around $123 the price of Ethereum has fallen at first to $121 area but has started increasing afterward and came up to $127.45 at its highest point today and spiked a bit further up but the hourly candle closed on those levels which are in the vicinity of the prior high at the 0.5 Fibonacci retracement level which serves as strong resistance.

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On the hourly chart, we can see that the impulsive move to the upside has ended as I have counted 5 waves so what we are currently seeing is most likely a correction which would end as a regular flat correction as the X wave came up to the exact same levels as the last impulsive move so the Y wave would be ending on the vicinity first W wave ending point which is in price terms at around $120.8.

The X wave to the upside has 5 waves and looks impulsive which is a similar pattern that we have seen from the start of the Minor WXYXZ correction that started on 24th of December so if we are to see a similar structure developing there is going to be so further sideways movement in a correction to the downside like the Minor correction was.

Since the momentum behind the Friday’s increase was strong the price is still putting pressure on the 0.5 Fibonacci level but the resistance proves to be significantly stronger since it hasn’t made any progress moving beyond it and considering the momentum it shouldn’t have been a problem.

The price is showing first signs of weakness so a further pullback is now most likely either as a pullback before another runup or a downfall altogether.

Ripple XRP/USD

From yesterday’s low at $0.303 the price of Ripple's XRP has increased to $0.3181 at its highest point today which was an increase of 4.78% but since then it has pulled back and is currently sitting at $0.30755.

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Looking at the zoomed out hourly chart you can see that today’s increase has led the price to breakout from the falling wedge in which it was correcting since the 24th of December and is currently interacting with the resistance line from the upside as it is testing it for support before it could continue the increase to the upside if the projection is valid.

As my target is around the 0.786 Fibonacci level but looking at the wave structure I have labeled the potential price pathway and have accounted the increase we have seen at the beginning of February as the start of that impulsive move. If the Minor correction ended and we are seeing the development of the Intermediate Y wave than the current movement is set to go past the prior high as the 3rd wave should develop.

If however, the price falls to continue its upward trajectory and goes back to the prior support and continues moving below it, then it would be likely that the Minor correction hasn’t ended and that the Y wave has yet to come.

Bitcoin Cash BCH/USD

From yesterday’s low at $118.3 the price of Bitcoin Cash has increased to $124.3 which was an increase of 5.07% but since, it has fallen again and is currently sitting at $120.8.

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On the hourly chart, you can see a similar situation like in the case of Ripple in the sense that the price is in its 3rd impulsive wave stage so if this is true then the price is likely heading for a breakout off of the descending channel on the upside very soon.

If not, we are seeing another retest of the descending channel’s resistance line before further downside as the correction inside it hasn’t ended. To validate each scenario the second Minute wave 4 which is the 3rd wave impulse will serve as an indication.

As the 4th wave cannot go inside the territory of the second wave according to the Elliott Wave Principle theory we are going to see if the horizontal support at $117.7 hold. If not and the price manages to go below it than the primary scenario will get invalidated.

To conclude all that has been said, my primary count remains and it is the one in which we are seeing the start of the Y wave but depending on what is going to happen in the following days we are going to see if it gets validated or not.

Current Crypto Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 12, 2019

Bitcoin BTC/USD

Bitcoin has been mostly hovering around the same levels from yesterday with a slight downward trajectory and is now 1.65% lower than on yesterday’s open at $3734 as its currently being traded at $3684

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Looking at the hourly chart you can see that the price has encountered some significant resistance at the descending trendline (purple) which is the upper resistance line from the descending channel in which the price of Bitcoin was correcting from 24th of December.

The price is still above the 0.328 Fibonacci level which is a good sign but today we have seen it go slightly below it, as the interaction has been made with the support line of the descending triangle in which this minor retracement occurred, and since the price found support there it bounced to the upside again which indicates that buyers are very much present.

Considering that the price grew exponentially on Friday and increased by more than 10% in a matter of hours we can say that the momentum behind the increase was strong but as the current resistance level are also we are yet to see if the uptrend continuation occurs or are we are going to see further retracement before a trend continuation.

If we are to see further retracement the most optimal target would be at the prior horizontal support level at $3555 with is the resistance of the prior range now serving as support and would be 3% lower than the current levels.

But if we are to see a trend continuation I would be expecting to see immediate momentum to the upside followed by a breakout from the descending channel in which the price is correcting.

These two expected scenarios are in line with my primary count in which the Minor WXYXZ correction ended and we are seeing the start of the next impulsive move to the upside.

If this, however, hasn’t happened the price of Bitcoin is headed for another lower low compared to the previous one at around $3430 which would be the last wave Z and the current increase would be the second wave X.

Ethereum ETH/USD

The price of Ethereum has been correcting inside a falling wedge from yesterday’s open at $127.3 and has lost 4.43% until now as the crypto is being traded at $121.7 at the moment.

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On the hourly chart, you can see that the price broke out from the falling wedge today and has now come down to its support line and the horizontal resistance of the previous range for a retest of support.

If the support is present we could expect to see further increase above the 0.5 Fibonacci level but as the wave structure implies we are likely now going to see further retracement as the 5 waves impulsive move the upside ended.

The expected retracement would be the second wave of a higher degree impulse so I wouldn't expect it to go more than 70% from the last high which would bring the price target for the retracement to around $111 area where the horizontal purple line is.

Like in the case of Bitcoin this expectation is based on the count in which we are seeing the start of the second impulsive move after the Minor correction ended, so if the price continues moving lower than that would mean that the current upswing was a prolongation of the Minor correction and that another low should be expected before the start of another impulsive move.

Ripple XRP/USD

From yesterday’s open at $0.31578 the price of Ripple has decreased by 3.13% as its currently being traded at $0.30578. The price hasn’t fallen in a line as it is in the minor falling wedge in which it has been moving sideways but slightly to the downside.

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As you can see from the hourly chart the minor falling wedge resistance is the same resistance line from the falling wedge of a higher degree and the price action is currently creating a cluster around those levels indicating strong resistance from one side and a buying pressure from the other.

Friday’s momentum has been strong but we just might be seeing it getting extinguished as the price increase has been stopped out around the resistance are from the 0.236 Fibo level as well as the falling wedge resistance line.

If this increase was the start of the impulsive move after the Z wave ended we are now going to see a breakout to the upside from the current minor wedge but if this was the end of the second wave X than the current minor falling wedge is the start of the Z wave and a range in which the sellers will gain control.

As the price found support on the minor falling wedge support line and the prior range horizontal resistance level now serving as support, if we are seeing the start of the second Intermediate impulsive move an immediate breakout to the upside should occur, but if now the price is headed for a lower low compared to the previous one at $0.294.

Bitcoin Cash BCH/USD

From yesterday’s open at $126 the price of Bitcoin Cash has declined by 5.25% measured to the current level at $119.5.

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On the hourly chart, you can see that the price has encountered resistance at the descending channel resistance line and has been in a retracement from Friday’s increase. The price is currently in a downward trajectory so the further decrease is expected today and if my count is valid the price isn’t going past the outlined horizontal level at $117.6 which is the ending point of the first impulse wave.

If it does go below it, that would only mean that what we are seeing isn’t the start of the impulsive move but yet another Minute correction out of the Minor WXYXZ. But as my count implies we are most likely seeing the development of the third Minor impulsive wave that is set to break out from the current descending structure and is headed further up.

Current Crypto Market Overview:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 11, 2019

Bitcoin BTC/USD

From Friday's open when the price of Bitcoin was $3437 at the open, the price has increased by 10.6% measured to its highest spike at $3800 but since it has been consolidating and is currently sitting at $3687 which is an overall increase of 7.25%.

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Looking at the 15-min chart we can see that the price of Bitcoin has gone above the 0.382 Fibonacci level and has interacted with the 0.5 Fibonacci level on Friday's spike where it got rejected fast and the price went below the $3783 horizontal resistance level. The price started consolidating after the increase and made a falling wedge from which actually a breakout was made yesterday near today's open on which the price was $3749 which was still lower than the 15 min candle close of the prior high.

Wave structure looks corrective so after this stagnation, I would be expecting a further increase as this would be the 4th wave out of the 5 wave impulse that started to the upside. The price target would be at least to the 0.5 Fibonacci level again but for a proper interaction but we might see it go even further up. Today we are most likely going to see a decrease at first since the third Minuette correction is to fully develop and it will most likely serve as a retest of support at around $3666 area.

There is another possibility in which the 5 wave impulse ended on the now labeled C wave of the second Minuette correction (orange), but this isn’t my primary count since the increase ended lower than the ending point of the 3rd wave. This scenario will be presented on Ethereum’s chart since it’s yesterday’s increase was slightly higher than the previous one.

Ethereum ETH/USD

On Friday, the price of Ethereum was $105 at its lowest point from where an increase has been made to $124.92 on the same day which was an increase of 18.86%. From there the price started correcting and moving sideways but yesterday another increase has been made from $118.19 at its lowest point to $128.11 at its highest spike which was an increase of 8.39% close to today’s open.

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As you can see from the 15-min chart the price fell from there as it entered the sellers' territory above the 0.5 Fibonacci retracement level. Currently, the price is sitting at $124 and is in the upward trajectory but as indicated by the wick from the upside it has encountered sellers’ pressure and is likely heading for a retracement now.

My Elliott Wave count implies that the impulsive move the the upside has ended as I have counted all 5 waves. Yesterday’s increase ended higher than the one we have seen on Friday so you can see the similarities and the differences between its chart and the Bitcoin’s chart.

Ethereum’s chart implies that we are now going to see a retracement potentially back to around 0.382 Fibonacci level at $116 as now a correction will occur after an impulsive move.

As I am expecting to see the price of Ethereum higher than these current level the expected decrease would be a correctional move which would be the second wave of a higher degree impulse.

XRP/USD

From Friday’s open when the price of Ripple was $0.29405 at its lowest point the price has increased to $0.3259 at its highest point on the same day which was an increase of 10.83%.

From there the price has decreased as it encountered resistance at the falling wedge resistance line and is currently sitting at $0.30797.

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Looking at the hourly chart you can see that the price is trying to break out from the falling wedge as it has been interacting with its resistance line from Friday when the increase to it was made.

The price is currently sitting on the 200 MA which may serve as a support for a breakout but the cluster that is currently being formed around it hasn’t provided many indications on the potential direction. RSI is on its midpoint around 45% which again indicates neutrality.

If the Z wave of the Minor WXYXZ correction ended on the interaction with the horizontal support level at $0.29405 then we are seeing the start of the impulsive move that is set to lead the price above the territory of the falling wedge, but the Z wave might not have ended.

In that case, the increase that we have seen on Friday is the continuation of the second X wave, so if the price falls below the minor horizontal support line at $0.30144 (interrupted black line) then the second scenario would be more likely.

The 0 Fibonacci level is the beginning point of the first wave W of the Intermediate count so it would make sense if the price goes further down below it on the last corrective wave.

That scenario would look like on the chart below and as you can see the Friday’s increase was ending point of the second wave X out of the Minor WXYXZ correction and it was a three wave correction to the upside.

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If this is true then the last Z wave to the downside has started and is going to be an impulsive move to the downside potentialy for another interaction with the falling wedge which would be at around $0.23562 before we see the start of the Intermediate Y wave.

Bitcoin Cash BCH/USD

From Friday’s open at $113.5 the price of Bitcoin Cash has increased by 14.24% to $129 at its highest point. As the price increased to the descending channels resistance line and encountered resistance there it has started pulling back and is currently sitting at $120.5

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The price is now on the 200 MA where it is interacting with it for a support testing purposes so if the price find support there, we are likely going to see another move to the upside beyond the descending channels resistance and the first target I see for it would be at the horizontal resistance at $135.

As you can see in the case of Bitcoin Cash the Z wave has ended which is why the increase we have seen after that has five waves followed by a correction and now we are seeing the next 3rd wave of a higher degree ending its development.

Zooming out to the 4-hour chart you can see that my higher degree Minor count which would be the five wave impulse if the Z wave ended so now I would be expecting a breakout from the descending channel on the 3rd Minor wave and then a pullback to the descending channels resistance for a retest of support on the 4th and then another increase to $155 are.

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Crypto Market Update:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, LTC): Feb 8, 2019

Bitcoin BTC/USD

From yesterday’s low at around $3435 the price of Bitcoin has increased by 1.86% measured to the level on which it is currently being traded at $3498.

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Looking at the hourly chart we can see that the price increased impulsively to the upside which could mean that we are seeing the start of the expected reversal. My Elliott Wave count has been readjusted to include the current upward move as the 4th wave, but the 5 wave impulse could have ended on the $3434 low level.

Zooming into the 5-min chart you can see that my count excludes the current move to the upside in an assumption that the downward impulse has ended. If that is true and it looks likely, then we are seeing the start of the first impulsive move to the upside which is the expected recovery – the expected Intermediate Y wave (orange) out of the WXY correction to the upside.

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We can see that indeed the price went impulsively to the upside in a five-wave manner and has been stopped out at the falling wedge resistance level. The price heading for a retracement now that the impulsive move has ended and from that retracement, we are going to see which scenario is going to be validated.

If the price finds support around the 0.236 Fibonacci level and starts impulsively moving upwards again and breaks out from the falling wedge resistance and goes past the horizontal resistance at $3511 which is the prior range support, then that would be a strong indication that the Minor WXYXZ correction inside the falling wedge ended and that we are seeing the start of the Intermediate Y wave.

If the price, however, goes back below the 0.236 Fibonacci level than the price is likely heading for a one more low before the end of the Minor WXYXZ correction.

Zooming out back to the hourly chart you can see that I have projected the ghost bars from the last time the price of Bitcoin increased impulsively which is the Intermediate W wave that ended on 24th of December.

Since then the price of Bitcoin has been correcting in a falling wedge in which the wave structure formed a WXYXZ correction which is the X wave of the Intermediate count and now that it has ended or will end soon, we are going to see another impulsive move similar in momentum that is likely going to go up to the bold black line which is the most significant resistance line and potentially further up to the horizontal resistance level at $3994.4 which exactly matches the projected ghost bars.

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The azure area labeled with an rectangle is looking similar to the current one and the considering that the ghost bars are from the ahead increase but only adjusted to fit the current context this scenario looks very likely.

Zooming out on to the 4-hour chart you can see the significance of the bold black line to which the price is expected to increase. It was the baseline support from the start of the bear market and was broken to the downside on the 21st of November last year when the price of Bitcoin reached $3214 at its lowest point.

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Since that low which is the lowest the price has been since the start of the bear market we have seen the start of this Intermediate WXY correction which was a retest of the prior support for resistance, and this would be the final retest before further downside for the price of Bitcoin.

Ethereum ETH/USD

From yesterday’s low at $105.46 the price of Ethereum has increased today by 5.1% to the level on which it is now at $110.8.

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Looking at the hourly chart you can see that the price has been stopped out at the horizontal resistance level from the current range at $111.19 and with wicks from both sides indicating a struggle.

If we are seeing the start of the Intermediate wave Y than this current increase would be the third wave of the five wave impulse so in that case, I would be expecting to see a further increase above the horizontal resistance, retracement back to the horizontal level for support, followed by further increase – like projected with the ghost bars.

Zooming out to the 4-hour chart you can also see like in the case of Bitcoin the ghost bar projection from the last impulsive move which is expected in resemblance this time as well to develop.

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The price is on its current horizontal resistance much like it was the last time in the previous context labeled as the first rectangle area on the left, and is similar in pattern to the current structure in a way that there was a five wave impulse move to the downside out of which the last 5th wave ended on the vicinity of the 3rd wave’s ending point forming a double bottom and establishing support before starting to increase impulsively.

If we are seeing the start of another increase like that we might see the price of Ethereum increase up to $152 are where the 0.786 Fibonacci level is.

Litecoin LTC/USD

From yesterday’s low at $33.4 the price of Litecoin has increased by 16.27% and is currently being traded at $38.84.

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Looking at the hourly chart you can see that the Minor X wave has most likely ended and we are now seeing the beginning of an impulsive move to the upside which would be the Y wave and the continuation of the Intermediate Y wave.

If this is true and then the potential increase could be even to 36% from the current levels as by projecting the Y wave as the length of the W wave from the presumed X wave ending point we come up with a target of around $54.

Zooming out to the daily chart you can see that would perfectly fit the completion of the U shape and since there is a strong resistance zone once at the projected ending point of the Y wave a retracement will occur which would lead to the formation of a descending channel which would in the combination with the U shape – a cup and handle pattern.

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As that would be the second wave X from a higher degree count I believe that if this scenario plays out as outlined we are going to see a breakout from the handle on the downside and further trend continuation as the final corrective wave Z should start developing.

Crypto Market Update:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, EOS): Feb 7, 2019

Bitcoin BTC/USD Price Analysis

From yesterday’s open at $3513 the price of Bitcoin has fallen by 2.9% at its lowest point to $3403 but was only a quick dip as the price came back above the intraday support at $3439. Since then the price has recovered slightly and is currently sitting at $3452 which is at the resistance line of the horizontal range in which the price is consolidating since yesterday’s downfall.

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Looking at the hourly chart you can see that the price has fallen to my projected levels but only with a spike and is now undergoing another correction to the upside which is the 4th wave for the last downward move and could come up to the vicinity of the 1th wave ending point at 0.382 Fibonacci level before continue moving down as the final, 5th wave should develop.

We could see the 5th wave ending on the 0 Fibonacci level at the prior low according to the Minuette count, but since the price hasn’t gone below the Minute 3rd wave I believe it will go lower.

In either way, a reversal is on the horizon as the ending point of the Minor Z wave looks closer to completion and it is the Intermediate count wave X which is why the Y wave is expected to launch the price impulsively up as we have seen in the period from 15th till 25th of December.

The target for the ending point of the Z wave would be optimally at $3340 which is the intersection with the falling wedge support line and the horizontal support zone, but it could end any time now as the moves are only getting smaller and smaller I wouldn’t come as a surprise if this happens tomorrow.

Ethereum ETH/USD Price Analysis

From yesterday’s open at $108.72 the price of Ethereum has fallen by 4.8% at first as it came down to $103.71 at its lowest point. Since the interaction with the 0.236 Fibonacci level, the price has started recovering and is now in an upward trajectory with the recovered 2.7% today as its currently sitting at $106.54.

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Looking at the hourly chart you can see that the price is still in its last stage with more move to the downside expected before a reversal as the now seen upward move was the 4th wave of a Minuette count which is the 5th impulsive wave of the Minute count and is the ending point of the Minor WXYXZ correction.

The price has interacted with the prior support at the 1st Minuette wave ending point and got rejected there which validates my count and is the reason I believe we are going to see another low before the expected reversal.

The expected price target would be at around $102 slightly below the prior low level. The price could end up at the 0.236 Fibonacci level as the 5th wave could end on the vicinity of the 3rd wave’s ending point especially if the move is bearish, in that way establishing support at one horizontal level.

After the last downward move, I would be expecting a reversal as the Minor WXYXZ correction is the X wave for an intermediate count and the Y wave to the upside should start developing. The target for the expected increase hasn’t been projected as it depends on various factors but if my Elliott Wave count is correct, we are going to see another impulsive move like the one until 24th of December.

XRP/USD Price Analysis

The price of Ripple hasn’t changed much in the last 24 hours as it was mostly been hovering around $0.296 with a small upward trajectory forming a minor ascending strcuture. It did fell from yesterday’s open at $0.303 to those levels which is why the range was formed as an indication of consolidation taking place after a downfall.

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Zooming out to the 4-hour chart you can see my expected scenario. Looking at the last structure you can see that the price of Ripple has at first increased exponentially until the 24th of December last year and was in a Minor WXYXZ correction like the other cryptos.

Now that the Minor correction looks near completion we are soon going to see a reversal as the Y wave to the upside should start developing but before we see that another low is most likely happening as the price has to establish firm support for an exponential increase that is expected once again.

I have deliberately zoomed out to the 4-hour chart so you can see the horizontal support levels on which I would be expecting that the Z wave ends on. The most optimal target would be at the prior low level where the 0 Fibonacci level is but we are yet to see how further could it go. The most pessimistic target would be at the next horizontal support level at $0.2661 which would be the most certain target as it would perfectly fit the interaction with the falling wedge support line with the ending point of the correction that has led to its creation.

EOS/USD Price Analysis

From yesterday's open at $2.42 the price of EOS has fallen at first in the same manner like the other cryptos and that by only 3.54% to its lowest point at $2.33 which was it’s intraday support from where an increase has been made which led the price to the current levels of at around $2.3742.

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Looking at the EOS 4-hour chart you can see that there is a possibility that in its case the impulsive move to the upside has begun as the Minor correction ended on the Z wave slightly lower than the Y wave and in a three-wave manner.

It's hard to say if the increase that we have seen from 29th is the first impulsive move to the upside from the Y wave of an Intermediate count that is awaited to begin in the case of other cryptos but from here I would definitely be expecting a retracement back to the established uptrend support line which was confirmed by the Z wave.

The uptrend support line intersects the falling wedge resistance which was broken on 3rd as a retracement back to those levels for confirmation of support would be the next logical step if the price want’s to continue its upward trajectory so the scenario will pretty much be validated if it does.

If the price manages to get inside the falling wedge territory then there would be a possibility that the Minor correction hasn’t ended and that we have seen a prolongation of the final wave Z.

Crypto Market Update:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 6, 2019

Bitcoin BTC/USD Price Analysis

From today’s open at $3513 the price of Bitcoin has fallen by 2% and is currently at $3442.

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Looking at the hourly chart you can see that the price of Bitcoin feel immediately after the open as it attempted to go above the 0.618 Fibonacci level and failed at the attempt which causes the price to drop hard due to buyers giving up supporting the price.

We have seen a decrease to below the prior low level at $3430 but only for a quick spike as the price quickly came back closing above it. The failed attempt that I referred to is the second wave from the Minuette impulsive move to the downside, according to my Elliott Wave analysis.

The price target for the expected decrease remains the same and is at the falling wedge support line intersection with the horizontal support area at $3340.

At first, a breakout from the horizontal support at the prior low or 0 Fibonacci level would be highly likely after which the 4th wave would be a corrective retest of the horizontal support for the resistance and would end as a rejection with the price continuing for another low.

That would be the end of the X wave for an Intermediate WXY correction count which means that an increase to the upside would be expected as the Y wave starts developing.

Ethereum ETH/USD Price Analysis

From today’s open at $108.88 the price of Ethereum has plummeted down steeply and aggressively as in the case of Bitcoin and came down to $103.57 at its lowest point today which was a decrease of 4.83%. From there the price started consolidating and even attempted to recover the lost value by quickly going back to the exact same levels from which the downfall happened, but the sellers pushed the price back down immediately and is currently sitting at $104.71

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Looking at the hourly chart you can see the wick to the upside and how the price came back down again in the same hour. Currently, the price is interacting with the horizontal support level at $104.73 where it is retesting it for support but judging by the previous situation reading the large green wick I don’t think that the horizontal support will hold for much longer.

The first horizontal level I see fit for a potential target for the expected decrease would be at $102 or even lower to $100-95 which can be-be considered the horizontal support are.

This would be the end of the Z wave if it doesn’t get prolonged by two more waves as the current count indicates that the Z wave will end in a three-wave manner – impulse, correction, impulse).

XRP/USD Price Analysis

From today’s open at $0.3039 the price of Ripple has fallen by 3.72% at its lowest point as it came down to $0.29277 at its lowest point today from which it recovered and is currently at $0.29467.

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Looking at the hourly chart you can see that the price broke out from the descending triangle in which it was correcting and has come down to the vicinity of the horizontal support level zone which is from here to $0.29115.

Since the price of Ripple was in a minor downtrend from last Thursday and it almost came down to the levels from which the increase was made and in particular coming down to the support zone I think that the price is now going to increase but only in a corrective manner although most likely impulsively as from there further depreciation would be expected to the downside.

This is due to the implications of the wave structure which looks like the one on the higher time frames and the scenario that I would be expected after the current Minor WXYXZ correction ends.

The target price for the end of the Z wave remains the same and would me around the intersection of the falling wedge support line and the horizontal support at $0.2661 but depending on the hight of the expected increase the price target could very.

Bitcoin Cash BCH/USD Price Analysis

From yesterday’s open at $117.5 the price of Bitcoin Cash has fallen by 6.38% at first as it came down to $110, but since it did the buyers have pushed the price back to the level of yesterday’s open where it encountered resistance again and is currently a bit lower to $115.2.

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On the hourly chart, you can see that the price has come up to the descending channels median line and spiked up above reaching $121.1 it but was immediately pushed back below it which indicates a strong presence of sellers. As previously price broke out from the symmetrical triangle on the downside the previous support level is now being retested and since the price got rejected fast we are likely seeing a trend continuation.

The ascending channel in which the price corrected to the upside was the second wave off of the three wave correction that consists the Z wave for a Minor WXYXZ correction which is why more downside would be expected.

The price action created a cluster around the medial line which serves as resistance with early signs of bullish action but it now looks extinguished which is why from here I would be expecting an immediate depreciation below the level of the intraday low at $110 and ultimately at the horizontal support level at $93 where the Minor Z wave is projected.

Coin360 Crypto Market Outlook

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 5, 2019

Bitcoin BTC/USD Price Analysis

On Tuesday the 29th of January, the price of Bitcoin was $3430 at its lowest point. The price increased to $3553 at first and then fell down to $3477 which was a higher low compared to the ending point of the 3rd Minute wave ending point.

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This indicated a potential start of an uptrend but was in question when the price attempted to go past the prior high level and just bearly made it spiking up to $3581 but that spike only triggered selling and the price fell back to the prior support level at the 0.382 Fibonacci level and a breakout from the minor uptrend support line which is the support of the ascending channel in which the 4th Minute developed in a WXY manner.

Yesterday we have seen a breakout from the ascending channel which could very likely mean that the 4th wave has ended on the Minuette Y wave and that the last impulsive move to the downside has started. Now the price is in an upward trajectory which is most likely the 2nd Minuette wave of the 5th Minute one and is serving as a retest of the prior support for the resistance which is why the price has interacted with the ascending channels support and was rejected but it pushing the price back to the 0.382 Fibonacci level which is its key support since the price has fallen 4 times on it in a search for support after encountering the sellers pressure.

As the price is now heading upwards it is again going to encounter resistance and this time it would likely be a lower high which is why I have projected that the price would go to around 0.786 Fibonacci level. The price could go further up to the vicinity of the prior high but that would only mean that the 4th wave hasn't ended and that the current movement is the prolongation of the WXY Minuette correction by two more waves X and Z. In that case, the area of the intersection between the falling wedge resistance (upper interrupted purple line) and the horizontal resistance level at $3553 or the 1 Fibo level would be the optimal target.

In any way when this minor increase ends I would be expecting more downside for the price of Bitcoin as the Z wave should end developing to the downside. The price target for the expected decrease would be between around the falling wedge support line intersection with the horizontal support zone from $3367-3340.

Ethereum ETH/USD Price Analysis

From last Monday when the price of Ethereum was $104 at its lowest point measured to the current level on which the crypto is being traded which is at 108.67 we have seen an increase of 3.81%.

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Looking at the hourly chart you can see that the price action created a cup and handle, but the handle broke the horizontal support level at 107.4 and continued moving down until it came to $106 slightly below the minor uptrend support line.

The price started recovering from there and came up to the vicinity of the prior high and spiked a bit higher but since it entered the sellers' territory the selling has been triggered by the spike and the price was sent in a downward trajectory again.

Currently, the price is in between the horizontal support level at $107.4 and the minor uptrend support. This cluster looks like an expanding structure so if the structure develops further we might see another increase to around the vicinity of the horizontal resistance at $108, but when it ends I would be expecting more downside since this would only be a prolongation of the 4th corrective wave out of the 5 wave impulse to the downside.

The target for the expected decrease would be at around $102 area but we could see a further decrease since this would only be the first horizontal support level in line to the downside below the one at $104.

XRP/USD Price Analysis

From last Tuesday when the price of Ripple was $0.2874 at its lowest point measured to current level on which the crypto is being traded which is at $0.3013 the price has increased by 4.75%. The price went up further immediately after the interaction with the falling wedge support line on last Tuesdays low, up to $0.3431 which was interaction with the falling wedge resistance line which ended as a rejection which propelled the price downward again.

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The interaction with the falling wedge resistance was the end of the Minor X wave which is why more downside is now expected as the Z wave has started. The price is currently in some kind of a descending triangle which I haven't labeled on the chart but is evident by the Elliott Wave Z wave, and is currently on the horizontal support from that triangle looking to break out to the downside.

If the breakout occurs and I believe that it will, we are likely going to see enough momentum for breakage of the horizontal support level at $0.29405 and further sideways movement to the next one at $0.26617 where the falling wedge support intersects it.

Bitcoin Cash BCH/USD Price Analysis

From last Tuesday when the price of Bitcoin Cash was $106 at its lowest point measured to the current level of $117.2 we have seen an increase of 10.71%.

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Looking at the hourly chart you can see that last Tuesday’s low was the ending point of the impulsive move to the downside which started after the second wave X from the minor WXYXZ correction ended.

From there the price action created an ascending channel in which the recovery has been made but now the price is at the apex of the symmetrical triangle formed by the downward resistance of the Minor correction and the uptrend support line from the ascending channel.

Since the resistance line dates way before the ascending channel’s support line and is the median line of the descending channel labeled with a purple rectangle it is the dominant one and will most likely outpower the current support which is why I would be expecting a breakout to the downside from here.

Elliott Wave count also implies that more downside should be expected as the Minor correction has to finish the Z wave who target I seen fit at the intersection of the horizontal support at $93.5 and the descending channels support line.

Crypto Market Update:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 4, 2019

Bitcoin BTC/USD Price Analysis

Over the weekend the price of Bitcoin has been increasing and came up from $3470 which was its lowest point on Friday to $3563 which was the highest point on Sunday’s open and is an increase of 2.68%.

Friday’s low was the higher low and the second point of the ascending channels support line which started to be outlined then after the price increased and was broken yesterday again. The breakout occurred after the price encountered resistance on Sunday’s open which has around the vicinity of the prior high and just slightly above it making it the end of the Minuette Y wave.

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Now that the price has broken the support another impulsive move to the downside has started, but not before the prior support gets retested which would likely be the second wave of the expected decrease.

The ascending channel was the 4th wave from the impulsive move of a higher degree and is the Z wave from the Minor WXYXZ correction that started from 24th of December. As the correction formed a falling wedge (interrupter purple lines) it is likely that the Z wave would end on its support since other waves had also and the lines were well respected.

The intersection of the falling wedge support and the horizontal support are is of interest and a probable target zone for the ending of the Z wave, which is in price terms between $3367 and $3340.

Ethereum ETH/USD Price Analysis

From Friday’s low at $106 the price has increased over the weekend by 7.77% as it came up to $114.28 on Sunday’s open. From there the price has started another minor downtrend and is currently sitting at $108.68.

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Looking at the hourly chart we can see that the price action formed a cup and handle but now a similar structure developed forming and the price is again below the minor uptrend support line like it was on the last X wave from a Minuette WXY correction.

This could indicate that another increase is to be expected potentially resulting in a higher high at around 0.382 Fibonacci level if the ascending structure continues with two more waves and ends as an WXYXZ correction to the upside. But I don’t believe that there is enough momentum at the moment for that but rather we are more likely seeing the start of another impulsive move to the downside in which case the price could increase but not above the prior high labeled as the Y wave.

That would be the second Minuette wave which is corrective and considering that the price is currently in a minor cluster between the uptrend support which now serves as resistance and the horizontal support level and is bouncing between then we can say that the second wave has already begun.

After a breakout to the downside from the current cluster, I would be expecting the price to go below the previous Minute degree low at $104.73 to the lower level of the support zone which is around $102 or even lower to around $95. But after one more low a reversal is expected and a recovery period for the price of Ethereum.

XRP/USD Price Analysis

On Friday the price of Ripple was around $0.32 at the open. From there it started a downfall and came down to $0.301 but only as a wick on the hourly chart as the candle closed at $0.3041 where the price is also sitting at the moment.

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Looking at the hourly chart you can see that the price is on the horizontal support level from the triangle that was formed since the price interacted with the descending wedge resistance on Friday’s open. As the is at the apex of the triangle we are going to see a breakout any time soon and the most likely is that the breakout would be to the downside since the triangle is a descending one.

The Friday’s open interaction with the falling wedge resistance was the second wave X from the Minor WXYXZ correction so the current movement to the downside is the last wave Z. The ending point of the Z wave is projected to be on the intersection of the falling wedge support line and the horizontal support at $0.266

The last Z wave will most likely be a five wave correction which is why another interaction with the resistance line of the falling wedge could occur but essentially the price is heading for a lower low than the one labeled as the Y wave at around $0.287

Bitcoin Cash BCH/USD Price Analysis

From Friday’s low at $110 the price of Bitcoin Cash has been increasing over the weekend and came up to $120 at its highest point on Sunday which was an increase of 9.18%. Since then the price has been retracing down and is currently sitting at $117.3.

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Looking at the hourly chart we can see that the price of Bitcoin Cash is in a descending channel from 24th of December like in the case of other cryptos and the channel was formed by the Minor WXYXZ correction.

The correction looks like in the last stages but another low would be expected as a current ascending channel looks corrective in nature so another impulse to the downside is to develop which would end the Z wave on three waves.

If the Z wave is to end on the third wave than the current ascending channel could lead to a further price increase and the interaction with the descending channels resistance line before we see another downfall, but not above the horizontal resistance at $135.

The expected target for the Z wave ending point would be at the intersection between the horizontal support at $94 and the support from the descending channel but it could also get further low if the Z wave gets extended by two more waves.

Crypto Market Update:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Feb 1, 2019

Bitcoin BTC/USD Price Analysis

From yesterday’s high at around $3560 the price of Bitcoin has fallen to $3463 at its lowest today, but has started recovering since and is currently sitting at $3521.8 which is an overall decrease of less than 1%.

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Looking at the 15-min chart you can see that the price of Bitcoin is currently in an upward trajectory after a breakout from the ascending wedge on the downside. The upward move has been stopped out at the 0.786 Fibonacci retracement level measured from the last increase which is why I believe that the price isn’t going up further but is going to start falling down to the level of the prior low.

This would be the development of the Subminuette WXY correction after the initial increase we have seen on Tuesday. This correction would be the X wave from a higher degree Minuette count which is the 4th wave from the Minute count off of the 12345 impulsive moves to the downside.

This means that one more low should be expected before the increase which is set to go when the 5th impulsive Minute move ends and by looking at the significant levels you can see that I have projected the optimal price pathway according to my Elliott Wave count.

The target price for the end of the 5th wave would be on the intersection of the descending wedge support and the horizontal support zone which would be around 5th of February which is perfectly in line with the sideways movement that is expected to occur until then and would be enough time for the price to reach that intersection on the 5th wave.

Ethereum ETH/USD Price Analysis

From yesterday’s high at $112.9 the price of Ethereum has been in a downward trajectory and has fallen today to $105.82 at its lowest but managed to recover quickly as its currently sitting at 108.72.

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Looking at the 15-min chart you can see that the price action broke out from the handle which was formed yesterday on the downside as the minor horizontal level didn’t serve as support. The price fell only by a little below it but enough to say that this cup and handle isn’t bullish.

Now that the price is in an upward trajectory and has managed to come above it once again it is still unclear what this wave is but since the price definitely isn’t showing bullish momentum I believe that we are still in stage 4 of the impulsive move to the downside which is why I am viewing this whole move as another wxy correction.

This current upswing could be the corrective wave X from a correction of a lower degree because it definitely isn’t the going further up at least for now as the first signs of weakness have been displayed as the price encountered resistance which isn’t that significant but yet has stopped the price out.

From here I think that we are going to see a continuation to the downside to the vicinity of the prior low levels which would be the end of the Minuette wave X after which another increase would be developed to the upside to the vicinity of the wave W-ending point optimally.

After this sideways move ends I would be expecting a lower low which would mark the end of the Minor WXYXZ correction as the Z wave would end and with it the Intermediate wave X which is why I would be expecting to see an impulsive move to the upside afterward.

XRP/USD Price Analysis

From yesterday’s high at $0.334 which was only an hour from the open, the price of Ripple has been falling and has reached $0.3037 at its lowest today. Currently, the price is sitting at $0.31260 which is an overall decrease of around 8%.

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Looking at the hourly chart you can see that the yesterday's increase was to the vicinity of the MInor W wave ending point which is perfectly within the rules of the Elliott Wave Principle and is the reason I feel pretty confidante labeling it as the second wave X from this Minor WXYXZ correction that started on 24th of December last year.

The price came up to the 0.33841 horizontal resistance level which is the significant resistance point made at first as a support on the W wave pullback but was well respected as resistance when the price fell below it on the first X wave when the price needed strong momentum to break it to the downside.

All of this implies that the strong bullish momentum that led the price up by almost 16% yesterday has now been exhausted after the attempt to break the mentioned resistance which is why the price has started moving to the downside again.

As this is was most likely the ending point of the second wave X now another low is expected as the Z wave should end, optimally around the descending channels support line (lower bold black line) or in price terms at around $0.25.

Bitcoin Cash BCH/USD Price Analysis

From yesterday’s high at $119 the price of Bitcoin Cash has fallen by 7.62% at first as it was on $110 level at its lowest point today, but since the price reached those levels its started increasing again and is currently sitting at $115.7.

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Looking at the zoomed out hourly chart you can see my count clearly as well as my projection. The Minor WXYXZ correction looks like it hasn’t ended after all, but instead, we are most likely going to see another low to around $102 are or even lower to $95 area depending on the momentum.

The price is currently in an upward trajectory but this is only correctional before further downside as this is the 4th wave of the last impulsive move to the downside which is correctional in nature.

After the Minor correction ends like in the case of other cryptos I would be expecting an impulsive move similar to that we have seen until the 24th of December last year.

Current Crypto Market Prices:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP): Jan 31, 2019

Bitcoin BTC/USD Price Analysis

From yesterday's low at $3464 which was near the open, the price of Bitcoin has by 1.1% as its currently being traded at $3494. The price did go further up as it came to $3561 which was on today's open but since the level was reached another minor downtrend has started.

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On the hourly chart, you can see that the price action has created an ascending wedge since the previous 5 wave impulse has ended which is why I believe that this is the prolongation of the Minor Z wave which still hasn't ended and will end as a five wave move and not the three wave that I was previously expecting. Currently, the price is interacting with the intersection of the 0.236 Fibonacci level and the wedge support line so I think that the support will be there for now.

The price could continue its upward trajectory for another interaction with the descending wedge resistance (upper interrupted purple line) before continuing for another lower low which would be the end of the Minor wave Z and the Intermediate wave X. The price target for the Z wave would be on the $3367 horizontal level or on the lower level from that support range. Optimally the price would at first increase to the descending wedge resistance before going down again which would be enough for the price to come down where the intersection of the descending wedge support line is and the horizontal support.

As Y wave is expected to the upside from here which would be an impulsive recovery move firm support is to be established and the mentioned area would be the perfect fit which is why I believe that this would be very likely. In the upcoming period, I would be expecting to see more sideways movement before another low which would be the end of the Minor correction and the start of a large move to the upside.

Ethereum ETH/USD Price Analysis

From yesterday’s low at $105.7 the price of Ethereum has increased by 2.6% as its currently being traded at $108.

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Looking at the hourly chart you can see that the price action created a cup and handle pattern which would be a bullish pattern, and as the pattern was formed around the ending point of the Minor WXYXZ correction we could see further increase from here.

Currently, the price has fallen to the prior range resistance line, were it is retesting it for support. If we see a bounce from it a breakout from the handle on the upside would be most likely in which case I would expect to see the price of Ethereum reaching the previous range support line which now serves as resistance at $116 where the 0.382 Fibonacci level is.

If the support level doesn’t hold then I would be expected to see a further downside with another low on the lower level off of the support zone at $102-100.

The wave structure looks like the Z wave is going to end as a five wave move in which case the cup and handle that we are currently seeing would be the 4th wave and its count would be valid until $116 where the ending point of the 1st wave is. If the price goes above that level than I would be safe to say that the Z wave ended and that a move to the upside has started.

But considering that the price has fallen approximately by the same amount as it came up yesterday indicating at least equal momentum the projected scenario on the chart above looks more likely.

XRP/USD Price Analysis

From yesterday’s low when the price of Ripple was $0.2919 measured to the current level on which the cryptocurrency is being traded which is at $0.31328, Ripple has decreased by 6.91%.

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On the hourly chart, you can see that the price of Ripple has increased yesterday exponentially when it came from $0.29 to $0.3384 which was an increase of 16.6% in one day. This indicates strong momentum but since the increased price has been plummeting down as aggressively as it came up and is currently at about 7.78% less then it was on the yesterday's peak near the closing hours.

This could mean that the price has entered the sellers' territory which activated hard selling and chasing of the price since the increase made was sudden but strong. The price is currently below both of the upper horizontal resistance lines and has found support on the minor horizontal level which isn't strong enough to hold the momentum behind the sell-off. As the price has started increasing again it might go up to $0.32565 horizontal resistance level before continuing its downward trajectory.

The price has been in a Minor WXYXZ correction since 24th of December and the interaction with the 0.28494 horizontal support level could be the end of that correction. In this case, the increase we have seen yesterday could be the start of the impulsive move to the upside after the correction ended although it is more likely that the interaction with the mentioned horizontal support level was the end of the Y wave from the Minor correction. In that case, the increase we have seen yesterday would be the second wave X from the Minor correction which means that the decrease we are seeing today would be the beginning of the final wave Z.

If the last is true then the price would go lower than the 0.28494 support line potentially for interaction with the lower bold black line which is the support line from the descending channel the price of Ripple has been in from 21th of September last year.

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 30, 2019

Bitcoin BTC/USD Price Analysis

From yesterday’s open at $3508 the price of Bitcoin has fallen at first to $3430 and spiked even lower but managed to hold above it and since the spike down entered the buyers' territory, the buying has been activated.

This has led to a small recovery at first but the price caught some traction and the momentum increased which is why a breakout occurred from the triangle-like structure in which the price of Bitcoin was consolidating currently the price is at $3531 which is above the level of yesterday’s open making it higher high which indicates the start of an uptrend.

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Looking at the 15-min chart you can see that the price in an upward trajectory and is above the 0.236 Fibonacci level which was retested for support and has bounced off of it nicely, indicating that the support is there.

Since the price completed its 5th impulsive move and with it the Z wave from the WXYXZ correction we are now seeing the start of a reversal as the Minor correction was the X wave from a higher degree count out of which the Y wave is expected to develop to the upside.

If this is true then we are going to see a further increase and a breakout from the descending wedge on the upside as the Y wave would be an impulsive move like we have seen from 15th till 24th of December last year when the price of Bitcoin came up from $3233 to $4374.

The target price for the expected increase would be at around $4000 which was the horizontal support level now serving as resistance and the intersection with the descending resistance line previously the key support line since the bear market started.

Ethereum ETH/USD Price Analysis

From yesterday’s low at $104.35 the price of Ethereum has increased by 6.08% as its currently being traded at $110.6.

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The price was consolidating after a downfall and the consolidation took place inside a symmetrical triangle, but since the 5th wave from the impulsive move to the downside a breakout to the upside was expected from here.

Strong momentum has been shown as the buyers have pushed the price to increase by 4.64% in the last couple of hours but the price encountered resistance at the $111.19 horizontal level. Considering that this is only a minor resistance point and on the other hand, the strong momentum that is shown, I believe that the price is going to go past the level and continue its upward trajectory to the 0.382 Fibonacci level at least before some minor correction will occur.

As the price has most likely ended its Minor WXYXZ correction which is the X wave from an intermediate count we are seeing the start of the Y wave to the upside. This wave would be impulsive although corrective in nature since the market is still indecisive.

If the Y wave started developing more momentum will be shown so this could serve as an indicator of whether or not the increase has started. But at the moment since the price of ETH has started gaining some traction I believe that it did.

XRP/USD Price Analysis

From yesterday’s low at $0.28770 the price of Ripple has increased by 12% measured to the current level on which the crypto is being traded which is at $0.32.

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On the 15 min chart, you can see that the price exponentially increased today, showing strong momentum which led to a breakout from the symmetrical triangle in which the price consolidated after the decrease has ended.

As the 5th wave to the downside developed we have likely seen the end of the Minor correction as the Z wave ended. If this is true then the current upward movement is the start of the intermediate wave Y which would push the price up impulsively.

Currently, the price is interacting with it first significant horizontal level which serves as resistance which is why now we could see the price pullback slightly before continuing its upward movement. I don’t expect that pullback to be a significant one but only a small stop before the trend continues.

The target price for the expected increase would be at the upper bold black line which is the resistance line from the descending channel in which the price of Ripple is from 21th of September.

Since this is the most significant resistance line and the price interacted with it 6 times so far, we are likely going to see another interaction. That would in price terms be around $0.35715 to $0.36 where the upper resistance level is from that resistance zone which was previously the support zone.

Bitcoin Cash BCH/USD Price Analysis

From yesterday’s low at $105.9 the price of Bitcoin Cash has increased by just over 10% as its currently being traded at around $116.2

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Looking at the hourly chart you can see that the price of Bitcoin Cash is in a descending channel from 24th of December like the other cryptos, and the descending channel was formed by the Minor WXYXZ correction that I referred to in the previous analysis but on this zoomed out chart you can see it more clearly.

As the Z wave most likely ended we are seeing the start of another upward move like from 15th till 24th of December and a breakout to the upside from the descending channel. Projecting the W wavelength on to the presumed Intermediate X wave ending point we come up with a target for the Y wave at around $183.

This would be the optimal target but I don’t believe that the price is heading up that far. More likely we can see the Y wave ending on the lower horizontal support level which now serves as resistance which is at $156.

Unlike in the case of Bitcoin where the price interacted with its descending structure’s support line on the Z wave, the price of Bitcoin Cash hasn’t. This may be due to the fact that the Z wave hasn’t ended and this applies to the other cryptos as well.

For now the Z wave has three waves- impulse, correction, impulse; and although it has most likely ended there is a possibility for an extension by two more Minuette waves in which case the current increase would be the first extension or the Minuetter second wave X after which we could see the final move to the downside which would be the second extension or the Minuette Z wave before the whole Minor correction ends and we see the start of the Intermediate Y wave.

This will soon be either validated or invalidated as the price has already come up, so now after the first pullback, we are going to see depending on the depth of a pullback. If the price pulls back to the levels of the yesterday’s low or even goes lower than this second scenario is in play and the Y wave hasn’t started.

But if the price pulls back to the levels of yesterday’s resistance point from where the price broke out and finds support there then the primary count in which the Y wave already started will be validated.

Current Crypto Market Outlook:

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP): Jan 29, 2019

Bitcoin (BTC/USD)

On today’s open the price of Bitcoin was $3507. From there which was the end of the 4th wave, the price continued its downward trajectory and came down to $3430 at its lowest point today as it was searching for support on the descending wedge support line since the price interacted with it another increase has been made and the price is currently at $3471.3 which is an overall decrease of 1.2% from today’s open.

Looking at the 15-min chart you can see that the price found support on the descending wedge support as the level was well respected and the candles closed above it. Since the interaction, the price has started its upward trajectory but it encountered resistance at the 0.236 Fibonacci retracement level which was previously broken.

Now that the price encountered the first significant resistance on the upside it is likely heading for a minor pullback before continuing its upward trajectory. As the 5th Minuette impulse wave ended so did the Z wave from a Minor WXYXZ correction which is the Intermediate X wave from a higher degree count.

The Y wave from that Intermediate count is expected to start which is why more upside is expected for the price of Bitcoin in the upcoming period but we might see a period of consolidation before this happens.

If what we have seen today is the start of the Y wave we are going to see the price start increasing impulsively to the upside. That move to the upside will most likely be around the same momentum as the impulsive move we have seen from 15th to 24th of December when the price of Bitcoin came up from $3240 to $4374.

Ethereum (ETH/USD)

From today’s open at $108.45 the price of Ethereum has been falling down and came to $104.3 at its lowest point today. From there the price started increasing again and came up to around the levels of today’s open but encountered resistance at the prior resistance point which is why it started pulling back again to the minor horizontal support.

Looking at the 15 min chart you can see that the price of Ethereum started a correction since the interaction with the $104 horizontal level so this correction could be interpreted as the 4th wave from the impulsive move to the downside or it is the first move to the upside after the 5-wave impulse ended.

The resistance from the 4th corrective wave has been outlined so if the price now doesn’t go further down below $106 and start increasing again going above the resistance level I would consider that the 5-wave impulse to the downside has ended and that we are seeing the start of the new wave to the upside.

The other possibility is that the the upper resistance line is the resistance from a descending triangle that is yet to be established with another verification of its support line before another low is to occur as the 5th wave, in that case, hasn’t started like depicted on the chart.

In either way, a reversal is on the horizon as the move to the downside is near completion. The expected reversal would be the the third Intermediate wave Y from a higher degree count so the completion of the wave Z from a Minor WXYXZ that has developed is the X wave of that higher degree count.

Ripple (XRP/USD)

On today’s open the price of Ripple was $0.2993 and from there the price fell at first to $0.285 horizontal level for interaction with the lower support level off of the support zone with which the price is currently interacting but the interaction ended as a large wick on the 15-min chart as the price quickly came back up above its current horizontal support and then back to slightly below the level of today’s open making a lower high.

The price of Ripple is like in the case of Bitcoin and Ethernet in its final stages of the Minor WXYXZ correction so a reversal is soon to be expected, but the ending point of the Z wave is hard to call out because of the sideways movement that we have seen recently.

As you can see from the 15 min chart the 5th wave completion is still awaited or a confirmation that it has ended. This will be confirmed if the price starts increasing again and breaks the still yet to be validated descending triangle but as the current price action pattern indicates we might see another low and proper interaction with the previously interacted lower support level.

The refereed triangle could be a bearish pennant but another expanding structure looks like it is intersecting the triangle which is not labeled on the chart as there is still no confirmation but if the 5th wave hasn’t started and it does go the the lower support line the expanding structure will start to appear more clearly.

The expanding triangle or a channel on the end of the correction usually indicates a large move ahead so this could very much be the possible scenario.

If the price of Ripple immediately goes below the outlined triangle’s support line I would believe that the 5th wave is playing out as the 4th wave ended as a three wave correction, but if not I would think that the 4th wave could be prolonged by two more waves.

In order to be 100% positive that the WXYXZ correction ended and that the impulsive move the the upside started, we are going to look out for the price going above today’s open and make a higher high.

If the price goes to around the vicinity of today’s open and finds resistance there, that would most likely mean that the 5th wave is going to start from there and another low is coming before the expected trend reversal.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 28, 2019

Bitcoin BTC/USD Price Watch

Over the weekend the price of Bitcoin came up from $3632 at Friday’s open to $3750 at the highest point on Saturday which was only a quick spike as the hourly candle closed at $3705. The spike entered sellers’ territory so the selling was activated and caught momentum which started pushing the price to the downside at first to the minor horizontal support level and then below it to the 0.236 Fibonacci level or in price terms $3474 at the lowest point today.

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Looking at the hourly chart above you can see that the price has created a cluster around the 0.236 Fibonacci level as it is looking for support there after the sellers have pushed the price in a downward trajectory.

The price is now likely heading towards the lower interrupter purple line which is the descending wedge support level in which the Minor WXYXZ correction occurred from 24th of December when the price of Bitcoin reached $4374.

According to my Elliott Wave count, the Minor correction is about to end as the Z wave looks near completion and considering that every corrective wave ending point was on the wedge levels validating them along the way, so would the Z wave most likely end on the interaction with the wedge support.

This might not happen in a straight line as the price is in the 4th Minuette impulse wave which is corrective and could lead up the price of Bitcoin to the prior horizontal support (purple line) for a retest before the 5th wave starts. This would be unlikely but there is a possibility still.

The target for the ending point of the Z wave and the current down move would be at around $3430.

When this move ends this would be the end of the wave X from a higher degree count so another impulsive move is expected as the Y wave should start developing.

Ethereum ETH/USD Price Watch

From Friday’s open at $119.5 the price of Ethereum has been going sideways over the weekend before finally going down further as it broke the horizontal support of the range in which it was going sideways and continued moving lower to $104.73 horizontal support level which was pointed out as a possible target for the end of this decrease in some of my previous analysis.

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Looking at the hourly chart you can see that the price of Ethereum went further below the $104.73 level but only left a wick on the hourly chart as buyers have quickly started holding the price above it which indicates that the support is, in fact, present at those levels.

The question is whether or not the seller's momentum would keep on pushing those buying orders or would the support be enough for the expected reversal. By looking at the wave structure I would say that I don’t believe so as this is for sure an impulsive move which would mean that it should develop in five waves, and only three have developed so far with the 4th on the horizon.

We are most likely going to see some small correction which would be the 4th wave from the current impulsive move to the downside who would optimally end around the 0.382 Fibonacci level or in price terms around $108.5 before continuing its downward trajectory as the 5th wave should start developing whos target I see fit around $100 area or where the 0.236 Fibonacci levels is.

Like in the case of Bitcoin, according to my Elliott Wave count, this would be the end of the Minor Z wave so a reversal is coming which would be the Y wave from an Intermediate count whos WXYXZ Minor correction is the X wave.

XRP/USD Price Watch

From Friday’s open at $0.3234 the price of Ripple like in the case of Ethereum went sideways at first before it finally started moving strongly to the downside today and reached $0.29 which is a 10.52% drop.

The referee sideways movement was the Minuettte WXY correction so after it ended another move to the downside was expected as the Z wave started developing in an impulsive manner. The price found some temporary support at $0.294 horizontal support level which is now being retested as the price is starting to gain some upward traction.

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On the hourly chart, you can see that the price of Ripple has like in the case of Bitcoin and Ethereum most likely in its final stages of the Minor WXYXZ correction so a reversal is soon to be expected.

The price is in its third wave from the second wave X so if it doesn't get extended by two more waves the recovery could start immediately but the current bounce doesn’t look strong enough to repel the selling momentum.

Most likely we are going to see another move to the downside after the price consolidates for a while potentially around the mentioned horizontal level at $0.294 before going to $0.28494

Bitcoin Cash BCH/USD Price Watch

From Friday’s open when the price of Bitcoin Cash was at $129 measured to the current level on which the cryptocurrency is being traded which is at $108.9, we have seen depreciation in price by 15.71%.

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On the hourly chart, you can see that the price found support on the first significant area around the vicinity of the C wave from an ABCDE correction inside the triangle which was the bearish pennant in December last year.

Like in the case of other cryptos the Elliott Wave count implies that this would be the end of the correction that started after the impulsive move to the upside ended on 24th of December, so a reversal is soon to be expected.

But as the price is currently on the insignificant enough level for strong support, needed to repel the sellers’ momentum and cause the trend reversal I believe that another low will happen before that reversal starts.

The target for that expected decrease would be at $104-103 level which is where some significant support could be found.

Current Crypto Market

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Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP): Jan 25, 2019

Bitcoin BTC/USD Price Analysis

Yesterday the price of Bitcoin was $3590 at its lowest point from where an increase has been made to $3666 but since the price encountered resistance at those levels it came back down and is currently sitting at $3604 which is close to the level of yesterday’s low.

Looking at the hourly chart you can see that the price of Bitcoin has been stuck in another range between the prior minor one’s resistance line which now serves as a support and the 0.382 Fibonacci retracement level which serves as resistance.

Currently, the price has started breaking the last uptrend support line as the price is below it, but since the price already went below the level and came back above it leaving wick on the hourly chart we can’t say for sure if the level got broken.

If the price goes lower I wouldn't expect it to go below the horizontal range support line at around $3950 as the price already interacted with the level previously and left a wick on the hourly chart indicating that the buyers are in fact there.

The wave structure looks similar to that before the 12345 move to the downside when the price of Bitcoin fell from $3825 to $3566, so this implies that we are likely seeing another WXY correction to the upside. If this is true then we are going to see an increase to the upside soon when the price finds support either on the uptrend support line or the horizontal support level.

The target for the expected increase would be optimally around the next horizontal resistance level in line to the upside which is at $3718. The price could go higher although highly unlikely since there are numerous resistance points to the upside and strong momentum is needed, the momentum which we still haven’t seen for a while.

When this sideways movement ends I would be expecting further downside for the price of Bitcoin and a breakout from the current support levels resulting in lower lows and further lookout for support.

Ethereum ETH/USD Price Analysis

From yesterday’s low at $116.74 the price of Ethereum has been steadily increasing to $119.5 which was around today’s open. Since the price hit those levels it started decreasing again and has come down to $116.68, slightly below yesterday’s low.

On the hourly chart, you can see that the price is back on the horizontal support level (bold black line) which was established when the price of Ethereum came up impulsively to $157 on 24th of December after which this correction which I referred to as the Minor WXYXZ correction started.

As the market is strongly correlated all of the cryptos are showing a similar chart pattern especially those that are major in market cap, which is why we can say that the whole market is in a similar stage.

This current sideways movement that we are seeing is considered by me as the second wave X so after it ends I would be expecting the final wave Z to the downside and considering the price of Ethereum a breakage of the horizontal support level on which the price is currently.

The price action has created a descending triangle but I don’t believe that the price is heading down just yet.

As the market fractality and the wave structure implies we are going to see another increase at first, optimally to the vicinity of the Minute W wave ending point which is around the 0.5 Fibonacci level or in price terms between $120 and $121.3 which is the upper resistance line and a support from the prior range (purple line)

This correction, the Minueytte WXY (orange), might get prolonged by two more waves x and z which is why the price could end higher than projected but since this would mark the end of the second Minor wave X we are going to see a further decrease in either way.

XRP/USD Price Analysis

The price of Ripple was $0.31799 on its lowers point yesterday. From there the price increased at first as it came up to $0.32457 but started decreasing again from there and came down to the levels of yesterday’s low as its currently sitting at $0.31802.

On the hourly chart, you can see that the price is back on its horizontal support in a lookout for support since yesterday’s high was a lower compared to the previous one which indicated that the sellers are in control, so they have pushed the price back to where the buyers are.

I have labeled the fractals that I was referring to and you can see that the Minute 12345 which was followed by a Minute WXY pattern resembles the Minuette count of the 12345 and the now developing Minuette WXY.

Then the price also held the at the horizontal support for three interactions before it made another attempt for a breakout to the upside which was the Y wave but ended as a fakeout resulting in further lows.

This is why I believe now we are going to see a similar pattern and the reason why I believe that the current support levels are going to hold for another bounce to the upside in an attempt for another breakout which would be the expected Minuette wave Y.

The price target for that expected Minuette increase would be around the prior range support which now serves as resistance which would be in price terms at $0.3281. According to my Elliott Wave count, this would be the end of the second Minor wave X from a WXYXZ correction, meaning that the Z wave should start afterward resulting in more downside for the price of Ripple in the upcoming period.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 24, 2019

Bitcoin BTC/USD Market Analysis

From yesterday’s open at $3643 the price of Bitcoin hasn’t changed much as measured to the current level at $3634 it has only decreased by 0.3% but the price went higher than the open to $3666 area and lower than the current level to $3592 before increasing again close to the levels of the yesterday’s open.

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Looking at the 15 min chart you can see that the price of Bitcoin increased to the 0.382 Fibonacci level where it found resistance once again since the price already interacted with the level the day before and got rejected which is why a pullback started in the first place.

Currently, the price is again on an upward trajectory and has started pulling back slightly lower than the mentioned level as it hasn’t interacted with it today, which could indicate that the level might get broken as another increase is expected to take place after the current pullback ends.

The price might not get past the 0.382 Fibonacci retracement level as it served as strong resistance so another interaction that would lead up with further retreatment would be expected. If the price continues moving above the resistance line the target price for the expected ending point of the increase would be on the next horizontal level in line which is significant enough that will serve as resistance which is at $3720 (upper interrupted purple line),

In any way, as I said after the interaction, sideways movement is expected with finally one further impulsive move to the downside and considering that the current correction is expected to end on the upper side I would serve as a good starting point for the expected impulsive move.

Ethereum ETH/USD Market Analysis

From yesterday’s open at $120.41 the price of Ethereum has fallen to $118.23 which is a decrease of 1.78%. The price did go further down to around $117 were some support has been established but it spiked down also further below to $115.7 but only for a quick dip since the 15 min candle was left with a huge wick as it closed around the support area.

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On the 15-min chart, you can see that the price managed to go above the 0.5 Fibonacci level but hasn’t managed to stay above it since it came back below it to the prior range support zone where it found some support.

The price is currently in an upward trajectory with the potential price target being around the vicinity of the Minuette W wave ending point around $121.28 or even slightly further up to around the support line of the previous range which now serves as resistance.

When the increase end I would be expecting further downside for the price of Ethereum since we have seen another corrective move to the upside resulting in a similar fashion and the sideways movement is the final wave.

The price target for the expected decrease would be to around $111 at first or even lower but the 0.382 Fibonacci level is going to serve as support so it will most likely be the the first stop in a downward trajectory.

XRP/USD Market Analysis

On yesterday’s open the price of Ripple was $0.32412. From there the price came down to $0.318 as it was in a downward trajectory until today. When the price came down to those levels it started increasing again much like we have seen on the charts of other cryptos and is currently at $0.32097 which is around 1% lower from the yesterday’s open.

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The price fell back to the support levels of the prior range which you can see on the chart above and since it found the support it started increasing again as the buyers pushed the price back up.

But as the buyers encountered sellers at the previous uptrend support line when the price reached $0.32303 today it started pulling back to the horizontal support line at around $0.321 which is the X wave according to my Elliott Wave count.

This means that the upward move to the upside should be expected now that the price has pulled back which would be the Y wave from an Minuette WXY correction that started when the price of Ripple came down to $0.31566 on the 5th move to the downside.

The target price for the expected increase would be at the horizontal resistance area between $0.327-0.328 which is the prior range support with whom the price interacted with on two occasions which resulted in a rejection indicating that the area indeed serves as resistance.

When the increase ends that would be the end of the second X wave out of the Minor WXYXZ correction which is why another move to the downside is expected from there as the Z wave should start developing.

Bitcoin Cash BCH/USD Market Analysis

Yesterday the price of Bitcoin Cash has $128 on the open and from there the price increase at first to $134.1 but fell immediately after below the opening price and is currently sitting at $127.3

Click the image to see it in full size.

Looking at the hourly chart you can see that today’s increase was the end of the WXY Minuette correction as the price came up to the vicinity of the W wave ending point below the horizontal resistance level.

Since the correction ended so did the second X wave which is why now if the correction doesn’t get prolonged by two more waves we are going to see the start of the last wave Z from a Minor WXYXZ correction that is in play from 24th of December which would result in the price of Bitcoin Cash going to the next horizontal level I see fit to withhold the momentum behind the downward movement which would be at around $104.

If the correction gets prolonged by two more waves it would be a more sideways movement for the price of Bitcoin Cash before the start of the Z wave, but more downside for the price of Bitcoin Cash is imminent.

Crypto Market Current Picture:

 

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 23, 2019

BTC/USD

From yesterday’s low at $3556.6 when the price of Bitcoin dipped to the lower support level we have seen the price increase by 3.15% as it came up to $3668 on an impulsive move to the upside.

Since that increase was an interaction with the 0.382 Fibonacci level which serves as resistance the price started pulling back and was $3641 at today’s open. From there the price came down to the lower support line of the previous range and back again to the 0.382 which is why another minor range has formed.

Looking at the 15 min chart you can see that the current minor range is a cluster below the 0.382 Fibonacci level indicating that the buyers are putting a lot of pressure on the mentioned level but as the price is in a downward trajectory and is in the final stage of the Minor correction and the 4th corrective move from the Minuette impulse move to the downside.

We might see another increase to the upside as a result of the traction that the price picked up after the yesterday’s dip but I don’t believe its likely but this sideways movement is making it difficult to say.

Overall my analysis points out that the price is heading downward further since the dip that occurred yesterday was only interaction with the expected price target levels. If the 5th wave ended inside the prior lower range which could have happened, we are then seeing the start of the second corrective wave to the upside which means that another move to the downside with the price going lower for proper interaction with the 0.236 Fibonacci level would be expected.

ETH/USD

From yesterday’s open at $117.4 the price of Ethereum has increased by 1.32% as its currently being traded at $119.4. The increase didn’t happen in a straight line as the price went lower than on yesterday’s open and higher than on the current levels.

Looking at the 15 min chart I have zoomed into the sub-waves and have been further examining and counting them so what applies here could also be true for the price of Bitcoin as the market is strongly correlated.

According to my count, the Minuette impulsive move to the downside has ended which is the first wave from the Minute WXY correction which is the final Z wave from the Minor WXYXZ correction that is in progress since 24th of December.

The price is currently in its second Minuette correction wave to the upside so there is one more wave to the upside would be expected to around $123.84 where the minor horizontal resistance line is, but after it ends most likely we are going to see the third movement which would be another impulsive move to the downside.

The price target for the final move to the downside would optimally be at the 0.382 Fibonacci level or in price terms at $111.34.

XRP/USD

On yesterday’s open the price of Ripple was at $0.3237. From there the price fell at first to $0.31571 and spiked even further down to $0.31 but only for a dip as we have seen on other cryptocurrency charts as the price started increasing from there with strong momentum and came up to $0.32581.

From there the price retraced down since it encountered resistance at the horizontal level at $0.3272 which is the lower support line from a prior range. The price fell to the next horizontal support level in line to the downside which is at $0.32.

Looking at the 15 min chart you can see that the price is now on the uptrend support line again as it came back above it and is now retesting it for support. I believe that the support would be there since the previous retracement was the B wave from a third consecutive ABC so this would be the start of the C wave which would be another 12345 impulse wave like the A wave previously that lead the price up to the $0.327.

The price target for the expected increase would be around $0.3322 which is where the horizontal support at the prior range support is, but when the price ends that upward move we are going to see another decrease as this would be the end of the Minute X which means that the Y wave to the downside should develop.

This Minute Y wave ending would mark the end of the Minor Z wave from the Minor WXYXZ correction which occurred from 24th of December whos price target I see fit at around $0.3 area which is the resistance level from the range from which the price of Ripple started the impulsive move to the upside and reached $0.4643 on 24th.

BCH/USD

The price of Bitcoin Cash has increased by 14% from today’s low at $117.4 as its currently at $133.7

Looking at the hourly chart you can see that the chart pattern seems like its a bit ahead from the other cryptos which could indicate that previous projections are highly likely. The three wave move to the upside that is expected for the other cryptos has played out in the case of Bitcoin Cash but in the case of Bitcoin Cash that would be the end of the second Minor wave X which in the case of other cryptos is counted as finished.

The price could go a bit further up from the current levels for proper interaction with the horizontal resistance level above but the move to the upside looks finished which is why I would be expecting the start of the final Z wave to the downside with the potential price target at $104 which is the most significant horizontal level on which the price is likely going to find support after the search out for it ends.

Whole Cryptocurrency Market Outlook

Bitcoin (BTC), Ethereum (ETH), XRP (Ripple) and BCH Top Coin Price Watch (January 23)
Click to enlarge

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 22, 2019

BTC/USD

From yesterday’s open at $3596 the price of Bitcoin has been bouncing inside of a range between there which was the range resistance line to $3556 which is a lower support level of the mentioned range.

Today the price went on to increase after the second interaction with the lower support level and from there it up to $3648 where it is currently sitting which is an increase of 2.54%. But since the price has encountered some resistance at the current levels it is in question if the rise will continue for much longer.

Looking at the 15 min chart you can see that the price has broken out from the mentioned range on the upside and has also broken the prior horizontal support (interrupted purple line) and is currently inside the prior range from which a breakout occurred previously with strong momentum.

The wave structure looks impulsive although I don’t believe that its the start of an impulsive move altogether, it is more likely that this is a retest of the prior support level for resistance which is why next I would be expecting an interaction with the 0.382 Fibonacci level or in price terms at $3666, before further downtrend continuation.

As the previous move was an impulsive move to the downside this is the 4th wave to the upside before another drop according to my Elliott Wave count, so after it ends I would be expecting that the price falls to the next Fibonacci level at $3499.

ETH/USD

From yesterday’s open at $119.2 the price of Ethereum has like Bitcoin been stuck bouncing inside a range from those levels which are around the range resistance level to $115.65 which is the range support level. The price came down today to $112.34 at its lowest spike which ended as a wich even on the 15 min chart which means that the dip activated buying since the price has been on the rise since and is currently at $120.22 which is an increase of 0.97% from yesterday’s open.

On the 15 min chart, you can see that the price is currently above the 0.382 Fibonacci level and is retesting it for support from the upside. This is a result of a breakout momentum that occurred after a quick dip, which was pushed the price above the range resistance levels and slightly above the mentioned Fibonacci level.

The price is on the intersection between the horizontal Fibonacci level and the descending channels which can be seen on a higher time-frame, resistance line which is why we are seeing a cluster forming. This indicates a struggle between buyers and the sellers but as the momentum is bullish we might see further breakouts to the upside but wicks from the upside on the current candles don’t bring a lot of confidence in that scenario.

I would be expecting an immediate rejection from these levels and further downside as the final Z wave should end significantly lower than the current levels, potentially all the way down to $102 per ETH.

XRP/USD

On yesterday’s open the price of Ripple was at $0.32283. From there the price fell at first since it interacted with the resistance level to $0.31889 which was the first support line of the range in which the price of Ripple was bouncing throughout most of the day.

Since the price interacted with the ranges’ support level another increase was made this time slightly higher than on the opening price as the price came up to $0.32498. Onward the price fell again to the support level of the range but this time slightly lower than the previous low as it came down to $0.31819 which was close to the today’s open.

Today the price went on to increase again but after it came to the prior high lower level it fell this time even lower to $0.3157 and even spiking further down to $0.31 but the buyers have immediately brought the price back up to above the support line of the mentioned range, and ultimately this led to a breakout from the range on the upside as the buying momentum was caught.

On the 15-min chart, you can see that the price action has created an expanding triangle out of the previous horizontal range since the price created higher highs and lower lows. Looking at the wave structure I have outlined that the current upward move must be the third corrective structure to the upside which means that after it ends more downside would be expected for the price of Ripple.

More downside is expected due to the fact that the price has been in a Minor WXYXZ correction from 24th of December when the price of Ripple experienced the impulsive move in which more than 60% recovery has been made, and as the previous structure to the upside was most likely the second wave X, the final wave Z should push the price to around $0.3 which is the price target.

BCH/USD

From yesterday’s open at $122 the price of Bitcoin Cash has fallen today to $120 at its lowest point. From there, an increase occurred as the price is currently around $130 level.

Looking at the hourly chart you can see a similar chart pattern like in the case of other analyzed coins except I have labeled it differently. According to these alternative labelings which I have chosen to display can also be applied to the previous analysis.

What is different in this scenario is that the Minute X wave ended today on the dip which we have seen al more or less all cryptos. This could be highly possible since the impulsive move that we have seen on t14th of January, Monday last week, resembles the current one which could be interpreted as the Y wave because of the similarities in momentum.

If we are to project the W wavelength on to the assumed X wave ending point we come up with a target of $133.3 for the Y wave which would be slightly lower than the ending point of the W wave, which is only natural considering that the X wave is also lower than the starting point of the W wave.

Ultimately in every scenario, the same implies – this would be only either a prolongation of the second wave X or the start of the final Z wave to the upside out of which the current upside movement is the corrective wave.

The target price for the expected decrease would be around $104 area which is where the most significant horizontal support line is below the current one.

Overall Market Outlook

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 21, 2019

Bitcoin BTC/USD Price Analysis

From yesterday’s high at $3789.2 the price of Bitcoin has fallen by 5.4% as its currently being traded at $3585. The price of Bitcoin reached $3839 at its highest point over the weekend but as that move to the upside was corrective in nature another downfall as a trend continuation occurred.

The second X wave from a Minor WXYXZ correction ended which is why this current downside movement is most likely the final move out of this correction that is in play from 24th of December.

Looking at the hourly chart you can see that the price fell below the 0.382 Fibonacci level which served as strong support and below the minor horizontal support level at around $3630 (interrupted purple line) which was the support level from the previous range which resembles the current one.

Judging by my Elliott Wave count there is one more move to the downside before this current downfall ends but it’s most likely not the end of the Minor correction and the ends of the Z wave. After the price falls further to the 0.236 Fibonacci level is going to undergo a correction much like it did last time on a higher time-frame fractal.

After this expected correction develops, further downtrend continuation would be expected and the end of the Minor WXYXZ correction who’s price target I have projected to the next horizontal support level in line which is at $3367.3.

Ethereum ETH/USD Price Analysis

From yesterday’s open at $126.66 the price of Ethereum has fallen by 6.36% as its currently being traded at $118.3. The price went further down to $115.74 today, but since, the price has recovered slightly.

Looking at the hourly chart you can see that the price action has created a similar pattern to that of Bitcoin as the market is strongly correlated. But unlike in the case of Bitcoin, the price of Ethereum hasn’t gone below its minor horizontal support level of the prior range or the ending point of the Minor wave Y.

The price did go below the 0.5 Fibonacci level but has managed to come up above it today, since recovery of 2% has been made. Now we are likely seeing another correction of a lower degree which is why most likely we are going to see a further decline from here for the price of Ethereum.

Like in the case of Bitcoin, the price of Ethereum is in a Minor WXYXZ correction and is currently in the last stage of that correction as the Z wave started developing. The target price for the ending point of the Minor correction is at $104 but we might not see a straight downfall from here as the price of Ethereum is most likely going to find support on the 0.382 Fibonacci level at first, start recovery which is going to retest the broken support probably the one at the minor horizontal level at $115.7 and then continue its downside trajectory for a one more low.

XRP/USD Price Analysis

On yesterday’s open the price of Ripple was at $0.33632 from where it decreased to $0.31813 at its lowest point yesterday which was a 5.31% drop. Currently, the price is being traded around $0.32214 as some recovery has been made.

The price went even further today as it came to $0.32694 at its highest point today but only as a spike to retest the broken support for the resistance which you can see on the hourly chart below.

Since the horizontal support zone from $0.3281 to $0.32702 was broken with strong momentum and the price was quickly rejected there with immediate retracement afterward we can say that it is only a minor consolidation before further downside.

As like in the case of Bitcoin and Ethereum, the price of Ripple has also ended its second X wave most likely and the Z wave to the downside has started but the expected decrease isn’t going in a straight line.

We are most likely going to see the price heading further sideways after this current decrease has ended and maybe even a bit of upside to the vicinity of the Minute Y wave as the Minute correction could get prolonged by two more waves X and Z.

If this is true the sideways movement could confuse many into believing that the Minor correction ended so in order to have a confirmation we can say that if the price goes above the Minute Y wave the Minor correction ended, but if the price goes further below after the expected decrease from this current range we can say that the Z wave still hasn’t ended.

The target price for the Z wave is at the horizontal support level around $0.3 area which you cannot see on the above chart but is the ending point of the first impulsive move that we have seen from 16th of December when the price of Ripple came up from around $0.287 to $0.4461.

Bitcoin Cash BCH/USD Price Analysis

The price of Bitcoin Cash has declined by 7.5% yesterday when it came down from $129.5 at its highest point to $119.8 at its lowest. Currently, the price is being traded at $121.8 as a minor recovery has been made in which the price came up to $123 at its highest point today.

Looking at the hourly chart you can see that the price of Bitcoin has is in a Minor WXYXZ correction after an impulsive move from 16th of December when the price of Bitcoin Cash came up from $74 to $230 at its peak.

As the impulsive move ended a correction occurred out of which I believe that the current downside movement is the final wave Z. Like in the case of other cryptos the price of Bitcoin Cash previously ended the second wave X on the Minute Y wave when the increase to the upside was made over the weekend but the increase hasn’t exceeded the ending point of the Minute W wave which is why after a steady decline occurred a more aggressive one followed.

Since the price is currently in a minor range a breakout to the downside should be expected from here and a further downfall. The target price for the Z wave would be at the horizontal support around $104 but we might not see a straight downfall as the price might undergo some further sideways movement after the expected decrease.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 18, 2019

Bitcoin BTC/USD Price Watch

From today’s open at $3723 the price of Bitcoin fell to $3666 which is a decrease of 1.48%. From there it started increasing again and came up to $3700 before another downfall and is currently sitting at $3672.

BTC/USD

The price is still above the 0.382 Fibonacci retracement level which was retested today for support after which the move to the upside was made indicating that the buyers are there and are willing to hold the price again.

As the price previously interacted with the horizontal resistance when it came up to the levels of today’s around $3723 which is the previous lower high ending point, and since it got rejected, showing that the sellers are still present at those levels the price has entered another move to the downside which could very likely result in another breakout below the 0.382 Fibonacci level and on to the horizontal support at $3631.

Counting the sub-waves of the current corrective structure seen from the increase on Monday we can see that the price action created two corrections with the third one currently in play. As its most likely going to and as another three waves WXY, the Y wave to the downside is expected from here and the first level significant enough for interaction is the mentioned horizontal level which is why it is the optimal target.

After the move to the downside has ended an increase would be expected as seen on Monday. This is the second wave X from an Minor WXYXZ count which is why after it ends the price of Bitcoin is headed for another downfall, as the last wave Z should start developing to the downside.

Ethereum ETH/USD Price Watch

From today’s open, when the price of Ethereum was at $126.2 the cryptocurrency has depreciated in value by 3% as its currently being traded at $122.32. The price at first fell to those levels but spiked up again to $124 before going back down again.

This kind of price movement is logical considering that the price is getting close to the end of the current consolidation which can be seen as a descending triangle. As you can see from the 15 min chart the price fell again to the triangle’s support line and is again putting pressure on the level with a breakout to the downside looking imminent.

If the Y wave from the second Minuette correction (orange brush) ended than the third correction to the downside has begun (green brush), if the correction gets prolonged by two more waves we are going to see more sideways movement before the start of the third correction which will lead to a breakout to the downside.

This expected third correction is expected due to the fact that it would most likely be the end of the Minute X wave and since after it ends a move to the upside is expected, the correction of a minor degree that is currently developing has to end on the downside on the support levels.

The target for the expected decrease depends on the current second correction and if it ends on the Y wave or on the Z wave. If the correction ended on the Y wave then the target would be higher, and if it gets prolonged by two more waves I would expect it to go lower. In either way, I wouldn't expect it to go below $118.

After this ends, I would be expecting another increase as we have seen on Monday – an impulsive move to the upside reaching the levels of the previous high or potentially even going a bit higher which would be the end of the Minor second wave X.

XRP/USD Price Watch

From today’s open at $0.3345 the price of Ripple has fallen by 2% as its currently being traded at $0.32814. Today’s open was an interaction with the descending triangle’s resistance line so after the interaction ended as a rejection the price started its downward trajectory again and has currently gone below the first horizontal support level at $0.32810 and is likely heading for the next one at $0.32702 which is the lower support level from the minor support range.

Looking at the hourly chart you can see that the price action has been stuck inside a descending triangle since the start of the week and has been bouncing inside and is now close to its apex which indicates that a breakout is to be expected which means that a move with a greater momentum is likely about to happen any time soon.

Like in the case of other cryptos, as the market is strongly correlated we are going to see a breakout to the downside in which case I wouldn't expect the price to go below $0.32216, before another increase like the one we have seen on Monday.

The expected target for that increase would optimally be at the horizontal support at $0.35382 but could end significantly lower if the price continues falling down from here.

This would be the end of the second wave X which means that further downside is expected for the price of Ripple after this sideways movement ends.

Bitcoin Cash BCH/USD Price Watch

From today’s open at $129.5 the price of Bitcoin Cash has fallen down to $126 where it is currently sitting which is a decrease of 2.88%.

Looking at the hourly chart we can see that the price has fallen back to the levels of the support line from the triangle that started forming from Monday when the price of Bitcoin Cash increase by 10% coming up to $135.3.

What has been stated for other cryptos is true for the price of Bitcoin Cash – a minor downfall is to be expected followed by an increase of the similar magnitude like the one we have seen on Monday, which would be the end of the second wave X from a WXYXZ correction of the Minor count.

The target for the expected minor decrease would be to $122.3 where the x wave from a Minuette correction is (orange). The price target for the expected increase would be at around the hight of the previous high which would be at $135.3.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, EOS): Jan 17, 2019

BTC/USD

From today's open at $3631 the price of Bitcoin has been increasing and came up to $3685,5 and even spiked higher to $3725 but the spike ended as a wick on the hourly chart. The price is currently at $3668.8 which is an overall increase of 1.04% so far.

BTC-USD

Looking at the hourly chart you can see that I have labeled what was previously labeled as a 12345 wave as the second wave X as the wave structure looks corrective and not impulsive, although the structure will end up going a bit up as expected. This is because if this is the second wave X it is likely a three wave correction out of which the current triangle is the wave X, and another increase like the one that occurred on Monday is to be expected.

The price attempted a breakout in the previous hour but the price was quickly pushed back inside the territory of the triangle but hasn't come down below the triangle's support line. As it even didn't go past the 0.382 level we might see the support holding which would result in the immediate breakout to the upside one the current hourly candle. This was the third interaction with the triangle's resistance which indicates that the buyers are putting pressure from the upside but since the level was respected the sellers have managed to be as aggressive which lead to the formation of the symmetrical triangle.

Since the breakout point is getting close, as the price is close to the triangles' apex, it will be also likely that the sellers are going to push the price down below the 0.382 Fibonacci level and the triangle's support but only for a quick dip which would activate more buying momentum that is needed for expected recovery and the ending point of the second wave X.

In any way after this minor recovery ends I would be expecting more downside for the price of Bitcoin as this was a continuation of the correction which is developing since 24th of December when the price of Bitcoin came up to $4374.

ETH/USD

On Monday’s open the price of Ethereum was at $117,8. This was the end of the previous down move when the price of ETH fell from $165,5. Since that low, the price started gaining some momentum and came up to $132,48 which was an increase of 14.42%

ETH-USD

As it encountered resistance the price started pulling back at first slightly and then it dropped fast from $132.16 to $120.15 which was a drop of 9.42%. Now that the price pulled back and managed to stay above the ending point of the first Minuette impulse wave we are likely going to another increase to the upside.

If this wave was not impulsive the price could drop to the levels of the beginning of the move which was on the horizontal support level at $116 or where the ending point of the Minor W wave as the prior low.

In either way, after this last minor pullback, I would be expecting another move to the upside and the interaction with the downtrends resistance line before the start of the final move the downside in this Minor WXYXZ correction.

This Minor WXYXZ correction is only the second wave X from a higher degree count which means that after it ends I would be expecting another impulsive move to the upside like we have seen previously when the price of Ethreum went from $83 to $163 in one go.

XRP/USD

From yesterday’s open at $0.33116 the price of Ripple has increased at first coming to $0.3379 at the highest point yesterday from were it started decreasing again and fell to $0.32831 today. From there the price continued moving upward and is currently at $0.33354 which is on the levels of today’s open.

XRP-USD

On the hourly chart, you can see that the price of Ripple has been bouncing off of the triangle’s support and resistance levels since the price started a minor correction after the increase we saw on Monday.

Currently, it is close to the triangle’s resistance so another minor pullback is expected as the correction inside of the triangle looks five wave-ish. After the price pulls back and interacts with the triangle’s support once again I would be expecting an upward move as this is most likely the second wave X from the Minor count correction which started after the price of Ripple increased to $0.45574.

The target for the expected increase would be at the most significant horizontal level at $0.403 which serves as strong resistance and is most likely getting retested before the price can continue its downward trajectory for one more time before the correction ends.

A breakout to the downside from the current triangle in which the price action is bouncing for the last couple of days as the Minuette Z wave could be another three wave correction to the downside, but in that case, I wouldn't expect it to go below the prior low level which is at $0.32.

EOS/USD

Since Monday when the price fell to $2.26 at it's lowest point from the prior downtrend move, the price has started increasing with strong momentum as it came up by 11.45% to $2.52. From there as the price encountered strong resistance a retracement occurred as the price is currently sitting at $2.447.

EOS-USD

Looking at the hourly chart, you can see a similar projection like in the case of Litecoin as the market is strongly correlated. The current upward movement has formed an ascending wedge, which is most likely going to end as a breakout to the downside with further downtrend continuation as it is definitely corrective in nature. The impulsive move to the downside that we have seen last week is the third wave Y, which means that the ascending wedge structure is the 4th wave X, and is the reason why more downside should be expected as the 5th wave Z to the downside is most likely going to start after one more minor increase.

The target for the expected minor increase would be around the 0.236 Fibonacci level or at where the most significant resistance is. After it ends the wave Z should start, which will lead the price down and the first target for its ending point would be on the next horizontal support area from $2.11-$1.94.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 16, 2019

BTC/USD

From yesterday’s open at $3761 the price of Bitcoin fell at first to $3721 and started increasing again, but when it came back to around the levels of the open it started decreasing again and this time with stronger momentum.

The price fell to $3640 yesterday which is the prior range resistance now retested for support as the price once again started moving to the upside and is currently sitting at $3698 which is an overall decrease of 1.7% from the yesterday’s open.

Looking at the hourly chart you can see that the price has fallen a bit further down than I was expecting it, but it only confirmed my EW count as it came to the proximity of the ending point of the 1st impulsive wave.

As the 5th wave develops I have lowered my initial target as the 4th wave ended lower, which is why now I believe that the price isn’t going past the 0.5 Fibonacci level as it encountered some strong resistance and a dip pullback indicating that the momentum behind the upward has diminished significantly.

For this reason, I don’t believe that the price is heading above the 0.5 Fibonacci level which serves as strong resistance, so another attempt ending as a rejection seems most likely.

After the rejection, I would be expecting further downside for the price of Bitcoin potentially below the 0.236 Fibonacci level, as this upward move was most likely a minor correction to the upside from this last downtrend.

ETH/USD

From yesterday’s open at $132.2 the price of Ethereum has fallen at first by 9% at its lowest point yesterday when it came down to $120.25. From there the price started increasing and is currently sitting at $125 which is an overall decrease of 5.83%.

On the hourly chart, we can see that price fell below the minor support line but since it started increasing again it continued above it and spiked all the way up today to $130 area but came down since, with the equal momentum as it came up and found support on the minor support level.

This would probably lead to further increase as the 5th wave develops and would either go up to he levels of the 3ed wave, which would bring the price of Ethereum back to around $133.4 or go a bit further up.

Optimally I would be expecting an interaction with the downward channel’s resistance line before the price starts moving to the downside again.

We are most likely going to see further downtrend continuation as this move to the upside looks like it was a corrective move. The momentum was not supported and judging but the large almost same size red candle, the sellers are as equally strong.

If the downtrend continues we are likely going to see the price of Ethereum land on the next strong horizontal support level that can hold the momentum behind the downward pressure is around $104.

XRP/USD

From yesterday’s low at $0.32688, the price of Ripple has been increasing today and came up to $0.34181 at its higher point today, but quickly fell from there as the hourly candle closed at $0.338.

From there the price continued moving to the downside and is currently sitting at $0.334 which is an overall increase of 2.37% from yesterday’s low.

On the hourly chart, you can see that the price action created a symmetrical triangle as the price consolidates after the drop from around $0.4 area. After the consolidation ends I would be expecting a breakout to the upside as the fifth impulsive wave should start.

The 5th Minuette wave could end up at $0.35382 horizontal resistance level as it's currently below it so a retest of resistance looks very likely. However, since the price action is indicating that the momentum is decreasing we can see the price go only up to the ending point of the 3rd wave which is at $0.34439 were a minor horizontal resistance level is.

Y wave from a higher degree count is almost complete but we may not see the expected increase before another low, as this current upward move looks corrective after all so it would probably end as the second wave X.

BCH/USD

From yesterday’s low at $124.8 the price of Bitcoin Cash has increased by 2.89% as its currently being traded at $128.4. The price did go further up today when it spiked up to $130.5 but that was only for a short time period as it came back down in the same hour as the candle closed at $129.

On the hourly chart, there is a clear sign that the price of Bitcoin Cash is heading for a further increase from here as it previously broke out from the descending range and has now come down to retest it for support on the 4th wave.

The price created a cluster below the current minor descending resistance line as it attempted to move upwards. Since the minor retracement occurred and the price found the support we are now likely going to see the further upward movement as the wave 5 should start developing.

The 5th wave could go up to the horizontal resistance level at $155.9 in theory but I don’t believe that this is likely since the momentum is needed for the increase and considering that the momentum is slowing down we only might see the increase to the minor horizontal resistance at $136.6 which would be at the peak of the today’s increase since it retested the horizontal level for resistance.

Author: Nikola L


Crypto Price Analysis (BTC, BCH, ETH, XRP): Jan 15, 2019

BTC/USD

On yesterday’s open the price of Bitcoin was $3580. From there the price started increasing and has spiked up to $3801 at its highest point but it came back down and the hourly candles closed at $3770. Currently, the cryptocurrency is being traded at $3741 which is only 0.5% less than on today’s open as the price is in a minor retracement after the increase.

Looking at the hourly chart you can see that the price started retracing after the rejection at the 0.5 Fibonacci level. As the wave structure looks impulsive, I believe that the move to the upside has one more wave to go. That is why after the retracement I would expect the price of Bitcoin to go up to $3880 or even higher.

The retracement will most likely end on the 0.382 Fibonacci level, which would mean that the price could go further down to $3666 before increasing for another 5-6% measured to the $3880 level, but the price could increase further potentially all the way up to $3994.4 horizontal resistance before this move has ended.

Looking at the Elliott Wave labelings you can see that price is in the second stage X of the Minor WXY (orange), which means that if the X wave has ended on the Y wave of the Minute WXY (dark green), we are now seeing the start of the third Y wave impulsive move to the upside, which could push the price of Bitcoin higher than the previous high at $4367. But the Minute WXY might get prolonged by two more waves, which could mean that the current Minuette 12345 move to the upside is the second wave X and that another Z wave to the downside is to develop afterward.

ETH/USD

On yesterday’s open the price of Ethereum was $116.1 which is the horizontal support level or the prior low or where the minor W wave ending point is. From there the price started increasing and it first came up to $120 and fell to $118.9 from where it spiked up to $134.51 at its highest point yesterday.

Since that high, another minor retracement has occurred and currently, the price is again in an upward trajectory and is sitting at $131.63 which is an overall increase of 13.45% measured from yesterday’s open.

On the hourly chart, you can see that the price has entered the territory of the prior range going past its resistance and the current retracement looks like it will fall back to the support line of that range retesting it for support.

The price came down today for interaction with the $127.53 level so we might see another increase soon as the I would be expecting that the price goes to the support line of the ascending channel which was broken out of previously which would be around $141.

According to my Elliott Wave count, the price has ended the Y wave from a Minor WXY (green) so if the correction isn’t prolonged by two more waves we are seeing the start of another impulsive move to the upside which would be the Y wave of a higher degree and could bring up the price of ETH up to $188.

If the correction gets prolonged by two more waves, this would be the second wave X of a Minor degree and would then result in further downside as the Z wave starts and could lead up to downfall to $104 before the start of the expected impulsive move in which case the target for the increase would be significantly lower.

XRP/USD

The price of Ripple was at $0.3215 on yesterday's open. From there we have seen like in the case of Bitcoin and Ethereum, at first a minor increase with a minor retracement and then another increase with stronger momentum to the upside when the price reached $0.348 at the highest point.

Since the high, the price has been pulling back steadily and is currently again in an upward trajectory sitting at $0.3383 which is an overall increase of 5.37% so far.

On the hourly chart, you can see that the price has spiked to the minor horizontal resistance level from the prior range and came back, closing the hourly candles below it. The price still hasn't reached the lower level of the prior range. That is why I expect it to go a bit lower even though a minor interaction did happen before continuing its upward trajectory again. As the upward move looks impulsive I would expect another increase from here to the resistance line of the next range $0.35382 at least to $0.37 at max.

But when the increase ends I would be expecting to see more downside for the price of Ripple as the current move is most likely a corrective wave to the upside before a continuing for another downside move, which would be the end the Minor Y wave.

BCH/USD

Yesterday the price of Bitcoin Cash was $124.2 at the open and from there it fell at first but not as much as it came down to $122.4 before spiking up like the other cryptos and came to $136.7 at its highest point yesterday.

From there the price started declining again as another minor retracement occurred and it looks like it has ended, as the price is once again in an upward trajectory and is currently sitting at $131 which is an overall increase of 5.13%.

On the hourly chart, you can see that the price has encountered the resistance at the prior range resistance which is why it has started pulling back. As the wave structure looks impulsive I believe that there is one more wave to the upside before another minor retracement but if the Intermediate X wave has ended the price of Bitcoin Cash is heading for another increase as we have seen before this last downtrend.

Projecting on the length of the Intermediate W wave on to the presumed X wave ending point we come up with the target price of $268. But like in the case of other cryptos that we have analyzed this increase that we are currently seeing could be the second wave X of the Minor correction and the X wave of a higher Intermediate count would end up much lower before we see the expected increase.

In that case, the target price for the Intermediate Y wave would be significantly lower as it depends on the ending point of the X wave.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP): Jan 14, 2019

BTC/USD Price Analysis

Over the weekend the price of Bitcoin was in a sideways movement but was decreasing overall. The price held above the 0.382 until yesterday when the price fell from $3706 to $3578.

Today the price started increasing again and has started slowly at first but spiked up in the last couple of hours up to the 0.5 Fibonacci level when it reached $3800. Currently, the price is sitting at $3758 which is higher than the Friday’s open when the price of Bitcoin was $3730.

As the five-wave move to the downside ended we are now seeing a recovery to the upside, but it is still uncertain if the move would be an impulsive one or just another corrective move.

The Y wave ended so what we are seeing currently is either the second corrective wave X or the start of another impulsive move like we have seen before this correction when the price of Bitcoin came from around $3230 to $4370.

If this is true, then the price of Bitcoin could see a significant increase and a period of recovery which could lead the price of Bitcoin above the prior high level at $4370. Strong momentum is to be seen in order to suspect that and we have definitely seen it today, but since it was only one green candle it is still unclear whether or not the momentum will continue on.

If the price of Bitcoin continues past the 0.5 Fibonacci level and manages to stay there I would consider that the correction has most likely ended and that we are seeing the start of another impulsive move.

If the price, however, falls back below the 0.382 Fibonacci level, then I would consider the current upswing to be as another minor corrective move before further downside.

ETH/USD Price Analysis

From Friday’s open at $131.4 the price of Ethereum has fallen over the weekend by 11.64% to its lowest point on Sunday when the price was at $115.43. From there the price started recovering and was $119.8 at today’s open but quickly after that, it started increasing fast and has spiked up to $134.59 at its highest point today, and has retraced slightly, currently sitting at $133.11.

On the hourly chart, you can see that the price fell to my projected target for the wave Z which was the third Minute correction after the initial Minor degree impulsive move when the price of Ethreum rose up by 86.56% coming from $83.11 to around $155.

As the three Minute corrections are the WXY wave from the higher degree count we have likely seen the end of the correction with the current increase being the third impulsive move to the upside which is the Y wave from the Intermediate count in which case, by projecting the Intermediate W wavelength on the the apex of the Intermediate X wave we come up with a target of $188.43.

This might not be true as the Minor WXY correction which is the X wave from an Intermediate count might get prolonged by two more waves in which case the current increase that we are seeing is the second wave X which is also corrective in nature.

As the price previously broke out from the ascending channel I am now expecting a retest of its previous support for the resistance. If the resistance is there and the price gets rejected I would be most likely viewing the current up move as a correction, but if the price goes down from here, finds support on the descending structure support line and continues inside the territory of the ascending one I would be most likely be viewing the current move as the impulsive move to the upside.

XRP/USD Price Analysis

The price of Ripple has been increasing today’s also as the market is strongly correlated. On Friday’s open the price was at $0.33832 and from there fell to around $0.32 area which was its lowest point on Sunday and a 5.38% depreciation in value.

From there the price started increasing today and has come from $0.3219 to $0.348 but pulled back quickly below $0.343 where it encountered resistance and is currently trying again to go past the level as the current green candle is at $0.34320.

On the hourly chart, you can see that I have labeled in a bearish manner unlike in the case of Ethereum as to point out the differences in projection. Moreso, the price of Ripple may offer some clues as to where the market is heading next.

As you can see a similar chart pattern is currently occurring to that when the price of Ripple started impulsively increasing and came up from $0.2872 to $0.35382 where the horizontal resistance was. If we are to see a similar move develop the price of Ripple could go up to around $0.37123 area, but it would only be the corrective wave X from the third Minute correction which would mean that another decrease is coming next before this correction ends.

The price has encountered some resistance at the prior range resistance and is currently forming a cluster around it, with the current candles having wick from both sides, which indicates that the buyers are trying to keep up the momentum going while sellers are putting pressure.

If the price doesn’t continue its upward trajectory I would be expecting immediate pullback the the levels on which the price has started the increase which would be at around $0.3277 or a formation of some consolidative pattern like a triangle.

As the market is correlated this may mean that the other cryptos are experiencing the same and that the corrective counts that have been labeled in the case of Bitcoin and Ethereum are going to be prolonged by two more waves.

In either case after the end of the current Minor correction, I am expecting another impulsive increase which is also corrective in nature. This means that the upward movement is only a correction before further trend continuation and more downside for the cryptocurrency market in general but that is more of a long-term perspective.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 11, 2019

Bitcoin BTC/USD Market

From yesterday’s open at $4094 measured to the current levels of $3732.2 the price of Bitcoin has decreased by 8.85%. The price went further down yesterday to $3688.5 but since it interacted with the horizontal support level it started consolidating and recovering and is currently in a sideways but upward trajectory above the horizontal support.

Looking at the 15 min chart you can see that the minor ascending channel has started to which looks like a lower leg cluster on a higher time-frame. The price has gone yesterday below the horizontal support at $3994.4 and the ascending channels support line when it started creating a lower leg in the mid range which I said looks like a bearish pennant.

After the price broke out from the bearish pennant it continued its downward trajectory and has come down to the next horizontal level that serves as a support point which is at $3692. The price has entered the descending channels territory and is now likely heading up for a retest at the resistance line.

My Elliott Wave count implies that the upside movement inside the current ascending channel is the 4th wave from the impulsive move to the downside as it is the last Y wave from a higher degree corrective count, so another move to the downside is expected when the price ends the current consolidation.

In theory, the price could recover all the way up to $3994.4 as the 4th wave develops but I don’t believe that it's likely. More likely we are going to see a rejection around the descending channels resistance line which was well respected in the past and strong momentum needed for a breakout on both sides. The target for the 5th wave would be around $3550-3450 area but it could continue on further to the downside.

Ethereum ETH/USD Market

From yesterdays open at $154.29 the price of Ethereum has decreased by 15.86% as its currently being traded at $129.34. The price went further down yesterday when it came from the opening price at $130.9 to $125 at its lowest point, but has since recovered slightly.

On the 15 min chart, you can see that the price fell steeply and quickly down to the ascending wedge support line at first and went slightly below it which happened in the past but the price managed to pull up above it which is what didn’t happen this time as the price continued moving downward.

Currently, the price is stuck in a range between the resistance point of the previous retracement descending trendline. The move to the downside has been labeled as the WXYXZ as I believe that it will end as a five wave move similarly like in the case of Bitcoin.

Now that the price is putting upward pressure on the encountered resistance the buyers are likely going to push the price back to the level around the rising wedge support line which now serves as resistance for a retest.

That would be the 4th wave of the third Minute correction which is why I would be expecting another move to the downside as the 5th corrective wave should develop. Its target would potentially be to the levels of the prior low of the first retracement labeled as the minor W at $117 when the price of Bitcoin retraced from $157.

It could further down to the horizontal support level at $111.27 where the 4th wave from the impulsive move to the upside ending point is. This would leave this whole correction as a Minor WXY which would be an expanded flat with the X wave sticking out above the ending point of the impulse wave.

XRP/USD Market

From yesterday’s open the price immediately spiked up to around $0.4 area and from there quickly started falling after it failed the exceed the horizontal resistance encountered at those levels.

It kept falling throughout most of the day and reached $0.3288 at its lowest point. The price has started recovering since and has been $0.3385 at today's open from where it fell at first to $0.33221 which was the higher low and the first sign of a minor uptrend.

Looking at the 15 min chart you can see that the price broke out from the symmetrical triangle with strong momentum and has gone below the horizontal support level. Now that the price is again in an upward trajectory it