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Today's BTC, BCH, ETH, and XRP Price Prediction: Cryptocurrency Forecast Analysis

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

Contents

Coin Value 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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Crypto Price Forecast:(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.


Coin Price Forecasts: (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.

Click to see the full-size image.

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.

Click to see the full-size image.

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.

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Coin 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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Coin 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.

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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.

Click to see the full-size image.

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.

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Coin 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.

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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:

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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:

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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.

Click to see the full-size image.

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:

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

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.

Click to see the full-size image.

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.

Click to see the full-size image.

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.

Click to see the full-size image.

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.

Click to see the full-size image.

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.

Click to see the full-size image.

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.

Click to see the full-size image.

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.

Click to see the full-size image.

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.

Click to see the full-size image.

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.

Click to see the full-size image.

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 (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.

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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.

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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.

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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.

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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.

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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%.

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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.

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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.

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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.

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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%.

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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.

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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.

Click the image above to see it's full-size.

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.

Click the image to see it in full size.

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.

Click the image to see it in full size.

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.

Click the image to see it in full size.

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, 2018

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, 2018

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, 2018

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, 2018

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 is most likely heading upward for a retest of the broken support levels.

The second Minute correction ended so I believe that this is the third one and is likely going to be a three wave correction with the current ascending structure being the second wave to the upside. If this is true, an equal length as the first move is to be projected on the second wave expected apex in order to come up with the target.

Doing so target appears to point at the lower bold black line which is the support line from the descending structure the price action is on a higher time frame but is a significant support level. Considering that the price previously interacted with the descending structure’s upper level on the 5th impulse wave, it is now very likely heading towards it’s lower levels.

This would be the end of the third Minute correction which would constitute the Minor WXY correction after a Minor 12345 impulse wave, which means that a trend continuation is to be expected after it ends.

Bitcoin Cash BCH/USD Market

From yesterday’s open when the price of Bitcoin Cash was at $159, the price increased at first, spiking to $164 but starter falling down fast from there and reached 126.6 at its lowest point today. Currently, the price has managed to stay above the $130 which is an overall decrease of 17.9% measured from yesterday’s open.

Looking at the 15 min chart you can see a similar situation like in the case of Ripple – after an impulsive wave, a correction is taking place and the current move to the downside was the first wave of the third Minute correction or the Y wave from a higher degree Minor WXY.

The price came down below the support point from is why it is most likely heading upward as the X wave develops, but I don’t believe it would go further than the levels of the first minor resistance which is at $142.

From there another decrease is expected around the same length as the first wave which brings the price target at $108.40.

Author: Nikola L


Crypto Price Analysis (BTC, ETH, XRP, BCH): Jan 10, 2018

Bitcoin BTC/USD Market

From yesterday’s open at $4152 the price of Bitcoin has fallen by 6.7% measured to the current level on which the cryptocurrency is being traded which is at $3874.3.

The price has broken the ascending channel’s support line and the minor horizontal support level at $3994.4 with strong momentum. The majority of the decrease happened from $4130 spiking down to $3843 which is a 6.92% decrease in one go.

Since the price action has formed a cluster which looks like a minor bearish pennant. The RSI is at 23.4% below its lower border of 30% which indicates oversold conditions so I don’t believe that another red candle like the previous one will develop afterward.

The price is most likely going to be consolidating for a while, potentially recovering to $3994.4 level for a retest of resistance but I would expect a downfall from there as this current decline is the start of the Y wave from a Minute WXY correction (dark green).

The X wave from that correction is the Minuette WXY (orange) which was the correction that developed the ascending channel in the first place. Since that correction ended a third impulsive move was to be expected which is what started happening.

The target for the expected decline would be at around $3580 which is the W wavelength projected from the X wave ending point. The price could go further down to the horizontal level at $3369, or it could end above the target around the horizontal level at $3690.

Ethereum ETH/USD Market

On yesterday’s open the price of Ethereum was $152.86. In the next hour, it spiked up to $162.56 but then the hourly candle closed at $157.54. From there the price has declined to the horizontal level at $151.82 where it found support and increased again to $154.6 from where it started crashing down to $132 in just a few hours.

Looking at the hourly chart you can see that the price fell to the support line from the ascending wedge in which it is correcting since the 12345 impulsive moves to the upside when the price of Ethereum reached $155.

The price did go higher but only as it was correcting when the second correction which was the five wave WXYXZ sideways movement to the upside ended at $166. But since this move was corrective more downside was to be expected which is what happened and was confirmed today.

The price is currently slightly below the ascending channels support but we can’t say that a breakout is occurring since the level wasn’t much respected in the past as well and the price came back above it eventually.

Since there were two corrections this move from the last Z wave could be the start of the impulsive move to the downside. From here I would definitely be expecting an increase or at least some consolidation as the RSI was at around 12% at its lowest point and has managed to recover to around 21% where it is currently.

As the price of ETH went below the horizontal support at $151, potentially it could go up to there for a retest of resistance before continuing down.

XRP/USD Market

From today’s open which is also the highest point at $0.3965 the price of Ripple has fallen by 17.2% as it's currently in a straight downfall at $0.32675.

On the hourly chart, you can see that the price is dropping fast, as the second correction ended today when the price came up to the horizontal level at $0.4 and got rejected quickly, which most likely signaled that after a third attempt to break the level there just isn’t enough of a buyers momentum currently, and the selling began.

The RSI is currently at 25.6% below its lower border of 30% which indicates the start of oversold conditions which is why I don’t believe that the price will continue falling for much further.

Like in the case of other cryptos most likely are we going to see now a period of consolidation which may lead up to recovery. As the price broke out from the symmetrical triangle area and the minor horizontal support at $0.3538 we could see the price go back to those levels to retest them for resistance.

The price could also continue falling down further in which case I wouldn’t expect it to go below $0.31.

After these corrective moves are done I would be expecting another major increase like we have seen previously when the price of Ripple came up from $0.29 to $0.4 in one go. But for this we are yet to see and calibrate after the current move to the downside has ended.

Bitcoin Cash BCH/USD Market

From today’s high at $163.9 the price of Bitcoin Cash has decreased by 21.27% measured the lowest level which just happened in the current hourly candle when the price came down spiking to $128.9.

Now the price has recovered slightly and is sitting around $134.5 and went a bit further to $139.8 but started retracing as to establish a higher low which will be determined on the current hourly candle close.

On the hourly chart, you can see that this downfall was to be expected after a correction ended so either another one to the downside started or we are seeing the start of another impulsive move.

As the market is strongly correlated we can see that the chart patterns and the Elliott Wave labelings are similar to the similar point from the previous analysis apply here as well -The price has entered oversold conditions and is currently searching for support on the minor levels it could find.

This situation makes it hard to say what is going to happen next but considering that the price dropped this much in just a few hours we could definitely say that the bears are in control of the market.

From here I am expecting some consolidation and minor sideways movement for the price of Bitcoin Cash before further movement.

Author: Nikola L


Crypto Price Analysis (ETC, ADA, XMR, ETH, TRX): Sept 24, 2019

Altcoins are on a recovery backed by exchange listings, pure optimism and BTC correlation. However, even with the shifting sentiment, Cardano, Tron, ETC and Monero are yet to close above key resistance levels at 12 cents, 2.5 cents, $12 and $150 respectively. Cardano bulls are especially concerned because revival anchors on how buyers react at 12 cents.

Cardano Price Analysis

According to Weiss Ratings, an independent Ratings firm supplying high quality advisory information on financial services based in Florida, Cardano and a host of other coins including XLM are poised to bounce back following their 90 percent correction from 2017 peaks. While this is nothing new—history has it that crypto prices often recover after sliding upwards of 90 percent, their calls are true. Cardano added 30 percent in the last week following strong fundamental and technical combination supporting price. Remember, while ADA is available in many other crypto exchanges, Circle—backed by Goldman Sachs did list it for their wide market base.

Cardano Price Analysis

Our analysis circles around Sep 21 high volume bar thrusting above 8 cents and cancelling our last Cardano price projection. Then, we remained adamant on our plan until after there were convincing reversals hitting stops at 8 cents.

Sep 21 candlestick did and now at the back of a market wide crypto recovery, sentiment is changing and we recommend buying at spot price with first targets at 12 cents.

Notice that 12 cents is a former support zone now resistance and it’s where the Aug 8 bear candlestick printed triggering a bear break out pattern.

Chances are this revival might be a re-test phase and that’s why stops should be at 7 cents with targets at 12 cents.

Any breach above 12 cents triggers entry of conservative bulls ramping up on dips with targets at 20 cents and later 40 cents all dependent on the speed of loss recovery.

Ethereum Classic Price Analysis

Ethereum Classic Price Analysis

Relative to other coins, Ethereum Classic remain largely inactive with weekly gains at around four percent. A notable move in the last week is the limited gains of Sep 21 even when volumes were high.

Note that ETC prices are still trading below $12 and with the last two days ending up as bears, sellers are technically in charge. In line with our trade plan, our ETC buys will trigger if there is a follow through breaching the $12 resistance level.

If not and sellers end up closing below Sep 21 lows at $11, then a retest phase would be complete—against market wide expectations.

Needless to say, our shorts are only valid if and only if there are dips below at Sep lows around $10.

As such, we recommend a neutral stand until after any of our trading conditions are met—either there is a move above $12 or a dip below $10 signaling trend resumption.

Monero Price Analysis

Monero Price Analysis

At the top 10, Monero is surely exposed to more liquidity and attention. While market building or development news is scarce, Monero maintains an uptrend and prices are now trading above Sep 14 highs at $120 triggering low time frame longs.

In any case, prices are up five percent in the last week and after bouncing off the main support trend line, we recommend buys on dips with stops at $110 and first targets at $150 or higher depending on how buyers react at $150—another key resistance level.

All things constant, Sep 5 candlestick is a reference point and conservative, risk-on traders should wait until there are solid reversals above $150 before engaging bulls.

Ethereum Price Analysis

Slow gains in ETH meant XRP did temporarily usurped it as the second most valuable coin in the world. Anyhow, Ethereum is back to second place. In other news, Ethereum’s Constantinople test-net under Ropsten should go live next month though there are no set dates for the exact launch. Only block number approximates are available with some pointing out 4,230,000 as the probable activation date on GitHub.

Ethereum Price Analysis

Thanks to Sep 21 super gains, Ethereum prices are up seven percent in the last week. But even with that, the follow through are weak to say the least.

Not only do we have two bear candlesticks damping Sep 21 surges but it appears as if prices are reversing right at $250, an important resistance level in our analysis.

Because of this development, we suggest taking a neutral stand until after there are surges above $250—triggering short term, aggressive longs building on last week resurgence.

On the same vein, conservative bulls should add longs only when there is conclusive, high volume close above Sep highs at $300. Thereafter, ETH bulls can buy on dips with targets at $350 and later $400 important resistance levels.

Tron Price Analysis

Tron Price Analysis

The area around 2.5 cents is clearly important for TRX bulls. Not only are they finding resistance threatening our previous TRX long calls—following the break and close above Sep 17 highs at 2 cents, but 2.5 cents is Sep 5 highs—a high volume bearish engulfing pattern.

If anything, last week’s 20 percent gain is largely attributed to Sep 21 gains but if that was a burn out move pointing ends of a pull back, then we might end up with trend resumption if there are moves below 2 cents today.

It’s because of this that our Tron price prediction relies on how prices react at 3 cents—our main resistance line. Any close above this level automatically triggers risk on bulls on every pullback in lower time frames targeting 4 cents and 5 cents.

Nonetheless, we remain bullish but today's and this week’s move depends on how deep prices correct as they build up for higher highs in Q4.

Author: Azeez M


Crypto Price Analysis (BTC, BCH, XMR, EOS, TRX): Sept 21, 2019

The long term, range bound movements in Bitcoin, Bitcoin Cash, EOS and Monero isn’t good for bulls—of course not for short term bulls. More often than not, the strong market involvement and consequent depreciation of Sep 17 price action influences price action.

Of the five coins under review, Tron is already on the uptrend but its momentum sustenance is of great important to investors going forward.

Let’s have a look at these charts:

Bitcoin Price (BTC) Analysis

Latest Bitcoin News

The open-ended nature of Bitcoin ledger is beneficial for regulators and on numerous occasions, it has been clearly demonstrated that banks are indeed the main perpetrators of money laundering and not Bitcoin as widely believed.

In fact, it has been reported that Danske Bank through its branch in Estonia is responsible for executing suspicious transactions between 2007 and 2015 which has now been showed were proceeds of criminals. The bank has been accused of laundering $234 billion. That’s $34 billion more than the total cryptocurrency market cap.

Complementing this are reports by Europol that Bitcoin are in fact not used for funding terror related activities. In a 78-page report titled Internet Organized Threat Assessment 2018, investigators concluded that banks are still the favorite corridors for terrorist to carry out their devastating attacks.

Bitcoin Price Prediction

Bitcoin Price Analysis
Daily Bitcoin Price Chart by Trading View

At current prices, Bitcoin is up four percent and trading above Sep 17 bear candlestick. Still, the three-month support line acting as the first level of support is buoying prices now that prices are $700 above the main support line at $6,000.

All in all, the side way movement of price isn’t helping day traders desirous of quick sharp movements in either direction.

Going forward and in line with our previous Bitcoin trade plan, caution should precede action and, in that case, we suggest both set of traders to initiate trades if and only if there are movements above $6,800 or $7,200.

Bitcoin Cash (BCH) Price Analysis

Latest Bitcoin Cash News

It’s a hacker strike once more and this time round, a Japanese cryptocurrency exchange–Zaif will have to compensate users following the loss of $60 million worth of Bitcoin, MonaCoin and Bitcoin Cash.

Tech Beau the company that owns the exchange isn’t willing to comment on the hack further infuriating investors who now have solid reasons to believe that hack might after all be because of Zaif carelessness.

Zaif has a wide customer base and though not the largest exchange, it’s a go-to platform for traders wishing to investors on a variety of altcoins.

Bitcoin Cash Prediction

Bitcoin Cash Price Analysis
Daily Bitcoin Cash Price Chart by Trading View

The ramification of the hack is yet to show on price and Bitcoin Cash prices are up 12 percent in the last day.

All in all, the reduction in volatility means our last price prediction holds true since BCH is literally trading within a tight $100 with strong support at $400 and bull triggers at $500.

Needless to say, the lack of consensus on upcoming Bitcoin Cash fork scheduled for Nov 18 could weigh negatively on price.

But before then, we recommend risk off traders to load on pull backs as risk off traders tap the overall resurgence in price.

EOS Price Analysis

Latest EOS News

Block one did release the latest Version of the EOSIO blockchain—1.3.0.

The upgrade includes fixes to how full nodes syncs as the network expand by introducing Replay and Resync and introduction of Trusted Producer Light Validation.

On top of there is wabt, a set of WebAssembly tool.

EOS Price Prediction

EOS Price Analysis
Daily EOS Price Chart by Trading View

Like the rest of the markets, EOS is on a recovery path and in the last 24 hours, the coin is up 11 percent and trading above the $5.5, minor resistance level.

As reiterated in previous EOS trade plan, any move above $5.5 shall trigger short term bull traders eyeing $7.

These trades have been executed now that the whole market is on an uptrend with EOS long traders keen on reversing Sep 17 losses.

Safe stops should be at $5 but once prices edge past $7, bulls can load up with ambitious targets at $15.

Tron (TRX) Price Analysis

Latest Tron News

After getting the much needed support from Binance and Bittrex, Tron is now setting their eyes on Europe and looking to expand.

They recently got a boost from BitBay, the largest exchange in Poland where traders would exchange TRX with BTC, ETH and a couple of other coins as USD, Euro and Polish Zloty.

Tron Price Prediction

Tron Price Analysis
Daily Tron Price Chart by Trading View

Exchange listing is obviously exposing TRX to extra liquidity and yesterday’s break and close above 2 cents was largely expected. From the chart, TRX added 11 percent and that was enough to confirm our previous TRX trade plans.

Then, our trading relied on how prices would react after consolidating following the whipsaws of Sep 17 and 18. It is now clear that that was the much needed follow through now that market participants are pushing TRX towards 3 cents and later 4 cents.

On the cautious end, counter trades that erase yesterday’s gain  retesting supports at 1.8 cents might open a flurry of sell order driving prices towards Jan 24 lows.

Monero (XMR) Price Analysis

Monero Price Analysis
Daily Monero Price Chart by Trading View

Encouragingly, Monero buyers now have an upper hand now that they are trading above $120 activating short term Monero bulls aiming for $150.

Nonetheless, notice that while yesterday ended up higher, the fact that prices were loosely held within Sep 17 high volume bear bar is an indication of the underlying damping trend of the last eight months.

Currently, buyers now have the upper hand going into the weekend. Moving forward, bulls could thrust prices above $150 towards the $200. Considering the break out, safe stops should be at $110.

Author: Dalmas N


Crypto Price Analysis (XMR, ETC, ADA, TRX, ETH): Sept 20, 2019

The last few days have seen increased volatility and even in the midst of all that, altcoins haven’t mustered enough momentum to drive prices above key resistance levels. Cardano is trading below 7 cents despite yesterday’s bulls which eventually culminated in an inverted hammer while TRX, Ethereum Classic and Ethereum are range bound.

Let’s have a look at these charts:

Cardano Price Analysis

Cardano Price Analysis
Daily Cardano price charts by Trading View

Though there were temporary flashes of Cardano prices above 7 cents, the mere fact that prices quickly retracted means the pump wasn’t backed by strong market participation.

Anyway, prices did slow do back to within the past eight days trading ranges cementing our previous Cardano trade plan.

If bears continue to reign supreme and we see price Cardano prices trending below 6 cents, the lower limit of our trade range, then we shall recommend moving stops to break even and letting this trade run to new lows until after strong Cardano price revival patterns print.

At the moment, prices are stable and hovering around 7 cents.

Ethereum Price Analysis

Latest Ethereum News

Weiss Ratings, an independent ratings firm has some rather bold claims fading those of Tim Draper. In a tweet, the firms said Bitcoin is a “one-trick pony” and it shall lose more than 50 percent of it’s market share to Ethereum. Remotely, this might be true but Bitcoin is by far the most capitalized coin in the world with superior hash power.

However, considering the diverse user case application as dApps and Smart contracts, their clams may after all be true. All things constant, Ethereum is better placed to implement scalability solutions than Bitcoin whose developers consider taking a conservative, measured approaches before incorporating BIPs.

Ethereum Price Prediction

Ethereum Price Analysis
Daily Ethereum price charts by Trading View

Overly, Ethereum prices are volatile and moving within a tight $60 range with limits at $170 and $230 on the upside. All in all, Sep 17 and 18 opposing surges means there are no meaningful gains with ETH registering losses in the last day.

Needless to say, in a bear market, Sep 17 bears are likely to follow through as they drive prices below $170 towards $150 and later to $75.

Nonetheless, like we laid out in our last Ethereum price analysis, optimists should first wait until there are solid gains above Aug lows at $250 before loading longs on dips with targets at $300 and $400.

Ethereum Classic Price Analysis

Ethereum Classic Price Analysis
Daily Ethereum Classic price charts by Trading View

Sep 5 is significant and anchors our Ethereum Classic analysis. While the candlestick saw huge single day declines, consequent bars did move within tight trading ranges typical of aftermath of heightened volatility.

All in all, sellers are in charge and unless otherwise there are moves above Sep 17 bearish engulfing pattern, we suggest selling on every high with stops at $11 and first targets at $8 and later $5.

Any move above $12 accompanied by unusually high volume cancels this bear projection in line with our previous Ethereum classic price analysis.

Tron Price Analysis

Latest Tron News

Binance has listed the TRX/BNB trading pair.

Tron Price Prediction

Tron Price Analysis
Daily Tron price charts by Trading View

Still, TRX prices are range bound and trading below the 2 cents bull trigger line despite high volatility of Sep 18.

Nonetheless, the failure of higher highs syncs well with our previous stand and if it persists, then pressure will be on TRX and we might actually see prices bottling below the lower limit of our trade range at 1.8 cents.

However, should there be a reprieve with prices breaching 2 cents at the back of high volumes and wide trade ranges, then we recommend buying on dips with targets at 3 cents.

Before this happens, we suggest taking a neutral stand while aware that any dip below the double bottom or Aug lows will most likely drive prices towards the ideal bear targets of Jan 24—TRX ATLs.

Monero Price Analysis

Monero Price Analysis
Daily Monero price charts by Trading View

A two percent gain in the last day means prospects of higher highs holds. Though it was far-fetched considering the general decline of Monero prices in the last eight months, rejection of prices at the main support trend line and at around $100 was a flicker of hopes for buyers.

At the moment though, it appears as if Sep 17 losses did confirm Sep 5 bear pressure and there are clear reasons backing this. Notice that just like Sep 5, Sep 17 bear candlestick had remarkably high trading volumes thrusting prices over wide ranges.

Then again, bullish attempts on Sep 18 didn’t manage to recoup volumes and most notably the candlestick ended up with a long upper wick hinting of lower time frame rejection of higher highs spilling over to Sep 19.

In any case, yesterday’s higher highs could be the support slowing sellers above $100. However, once there are conclusive break outs we suggest selling on every retest with stops at $110 and targets at $70 as highlighted before.

Author: Dalmas N


Crypto Price Analysis (BTC, XLM, TRX, EOS, LTC): Sept 19, 2019

A single high-volume candlestick was enough to trigger a sell off driving prices back to previous ranges. With that it also means, Bitcoin prices are re-testing the $6,000 even when its dominance balloon above the 55 percent mark. This is obviously negative for altcoins and in days to come, we might see a drop in Litecoin, EOS and even XLM.

Let’s have a look at these charts:

Bitcoin Price Analysis

Latest Bitcoin News

That there is a link between email address and crypto currency exchanges is true—and dangerous for crypto investors alike. According to Mark Fischer, the head of email security at Google recently told CNBC that social media users who happen to register their trading accounts with the same email account at forums and similar media platforms are low lying pickings for sophisticated hackers but only when they chest thump about their crypto holdings. With Bitcoin trading at over $5,000, a simple hack could potentially be a jack pot for these hackers and worse still for the user, the effort might have been negligible because most users tend to use the same password for exchanges and email accounts.

Bitcoin Price Prediction

Bitcoin Price Analysis
Daily Bitcoin Price Charts by Trading View

Even if Bitcoin prices did find support yesterday still Sep 17 bears overshadow their effort. They are still far off the $6,800 and $7,200 resistance zone we mentioned in our last Bitcoin price forecast.

What could a real bummer for buyers in days to come is Sep 17 high volume dump that saw prices sliding from $6,500 to $6,200 within hours as sellers retest the first layer of support near the $6,000 level.

Considering these developments which did confirm the overshadowing effect of Sep 5 bear movements, we recommend patience now that our previous Bitcoin buys are now null.

To reiterate, any dip below $5,800 would open the sluices for Bitcoin sellers to drive prices towards the $4,500 and $3,000 marks.

On the flip side, any drive and close above the eight-month resistance trend line and preferably $7,200 might lead to BTC printing $8,500 or even $10,000 by the end of the year.

Litecoin Price Analysis

Latest Litecoin News

With sliding Litecoin prices, critics are having a field day. At the top of this list is MultiCoin Capital managing partner Tushar Jain who is in the front-line throwing salvo at Litecoin in general and Charlie Lee in particular. In a critiquing blog post, Jain says Litecoin is a pre-smart contract relic and at current prices it is over-valued insisting that current prices are propped by churned incentives. He concluded by saying that no one sees the value of Litecoin and its claim of complementing Bitcoin is nothing but a bait to draw demand in an otherwise dead coin that users found hard to make use of even after insiders “pushed” for CoinBase listing.

Litecoin Price Prediction

Litecoin Price Analysis
Daily Litecoin Price Charts by Trading View

In 34 days, Litecoin prices have retested the $50 main support mark in three different occasions thereby cementing the significance of this support level.

Encouragingly, during these times of retest, bears don’t muster enough momentum to breach it and instead, prices often bounce off this level like we saw last week. However, despite bullish attempts of last week, it appears as if sellers are back in contention clipping last week’s 10 percent gain and quickly driving back prices to $50.

In any case, our previous upbeat expectations have been quashed and at the moment, we suggest taking a neutral stand until after there is a break out above $60 or below $50 triggering a wave of sellers aiming for $30 and later $10.

Though we are skewed against sellers, fitting stop losses would be at lows or highs of the break out candlestick.

Stellar Lumens Price Analysis

Stellar Lumens Price Analysis
Daily Stellar Lumens Price Charts by Trading View

Of all the coins under our preview, price movements in Stellar Lumens have been modest to say the least.

In fact, coin trackers show that XLM has been successful in absorbing bear pressure and up five percent in the last day pumping their overall week over week gains to eight percent.

Regardless, our previous Stellar Lumens trading stands and until there are movements above 25 cents triggering buyers aiming for 50 cents or a break below 18 cents ushering bears aiming for 8 cents, we remain neutral going forward.

Tron Price Analysis

Latest Tron News

Bittrex, the US crypto currency exchange has listed TRX/USD pair for their diverse customer base.

Tron Price Prediction

Tron Price Analysis
Daily Tron Price Charts by Trading View

Of all the coins, TRX is perhaps the only one at cross-roads. First, TRX prices are in consolidation mode and trading inside a 1 cent range with caps at 2 cents on the upside and 1.8 cents on the down side. The 1.8 cents marks Aug 2018 lows and double bottom which we previously highlighted.

While TRX continue to oscillate within Sep 13 high low buoying Tron bulls, Sep 17 high volume bear engulfing candlestick reversing from 20 cents could signal trend continuation despite yesterday’s bullish attempts—TRX prices are up seven percent.

Since our TRX long stops were hit on Sep 17, we recommend taking a neutral stand as we wait for a trend defining break out from this range.

Any dip below 1.8 cents and sellers should sell on pull backs with targets on Jan 24 lows while gains would effectively thrust buyers towards 3 cents or 4 cents immediate resistance level.

EOS Price Analysis

Latest EOS News

Citing speed and low cost of transaction in the fee-less EOSIO network, BancorX plans to launch another platform on the EOSIO network. The service will not only allow trading between different EOSIO tokens—just like they do in Ethereum, but will also enable trading between EOS and Ethereum tokens. The DEX will position itself as a cross chain liquidity protocol allowing for seamless, token trading between different market participants at low fee and latency.

EOS Price Prediction

EOS Price Analysis
Daily EOS Price Charts by Trading View

The failure of EOS bulls to close above $5.5 after ranging is an indication of strong sellers. Although we don’t suggest taking shorts at current prices even if Sep 17 is a real pointer of underlying bear strength, traders should hold off their trading until after there are drops below $4 and $4.5 or a spike above $5.5. After all, yesterday was bullish and EOS is up six percent.

All in all, considering the depth of market participation and sellers who are technically in charge—more so from a top down approach, it’s likely that EOS might drop below $4 and in that case traders should short with every high with first targets at $1.5 as mentioned in our previous EOS price preview.

That’s unless of course there are strong spike above Sep 17 highs clearing $5.5 and triggering longs as a result.

Author: Dalmas N


Crypto Price Analysis (NEO, DASH, ETC, mIOTA, ADA): Sept 18, 2019

Often, the aftermath of rapid gains or losses are not accompanied by instant confirmations as many expect. Instead, bar confirmations are usually slow, characterized by counter trades. That’s exactly what we are seeing in most coins under our radar. After last week’s rejection of lower prices, NEO, IOTA, ETC and even Cardano are struggling against sellers. Of all coins, Cardano movements is a stand out and though printing higher highs, a 1 cent barrier is preventing buyers from closing above 7 cents and hopefully finding a footing for further gains above 8 cents.

Let’s have a look at these charts:

Cardano Price Analysis

Latest Cardano News

Investors can now trade Cardano with over 100 coins/tokens at Cryptomate

Cardano Price Prediction

Cardano Price Analysis
Daily Cardano Price Charts by Trading View

All things constant, Cardano drop and close below 7 cents after Sep 12 did trigger our shorts and regardless of the tight movements, prices are still trading below 7 cents, our sell trades are valid.

Therefore, unless there are sharp spikes in trading volumes lifting Cardano prices above 8 cents and invalidating our short trades, we remain bearish on this pair.

DASH Price Analysis

Latest DASH News

No doubt, the fact that DASH is fast, censor free and cheap to transact with makes it a preference coin for may Venezuelans. On matters adoption, DASH tops the chart in the once oil-rich enclave and the foundation is doing whatever it can to extend their reach by introducing smart phones with in-built DASH tokens and creating partnership with QR.CR, a point of sale system for example. All these draws demand for the coin propping price as a result.

DASH Price Prediction

DASH Price Analysis
Daily DASH Price Charts by Trading View

The zone between $210-$220 is no doubt a strong resistance previous support level and so far, it has been successful acting as a liquidation point.

From the chart, Sep 5 bear engulfing candlestick anchors our analysis and even after 12 days of attempted higher highs, buyers have been unsuccessful in reversing losses.

This means, despite all the “shift of momentum” fun fair, sellers are in charge just from an effort versus result angle. Of course, this view will charge if and only if DASH prices breach $230 and Sep 5 highs.

As such, we expect prices to drop going forward. $160 shall be the ideal sell entry point with targets at $130 and later at $110.

Ethereum Classic Price Analysis

Ethereum Classic Price Analysis
Daily Ethereum Classic Price Charts by Trading View

Regardless of changing sentiment against Ethereum and the consequent reversal, ETC are yet to follow through.

Here, we notice that Ethereum prices are actually moving within a tight consolidation and trading below $12 cents with main support at Sep 12 lows at around $10.

Though fundamentals developments make Ethereum Classic an undervalued coin, technical candlestick formation hints of further devaluation as set by Sep 5 and 8 candlesticks.

In line with our last trade plan, odds are prices might inch higher but before that happens, ETC prices must first trade above $11. On the flip side, any drop below $9.5 or Sep 12 lows cancels our short-term bullish stand.

NEO Price Analysis

NEO Price Analysis
Daily NEO Price Charts by Trading View

After periods of weak higher highs along the main support trend line, NEO did print a eight percent loss in the last day bringing total week over week losses to 10 percent.

Yesterday’s losses meant prices are now trading below the main support trend line and most likely, sellers might drive prices towards Aug lows at $15.

This is why we suggest taking shorts on every pull back in lower time frames with stops at $20 today.

The only move that shall cancel this projection is if there is a spike in price and market participation reversing losses, hitting our stops and printing above $21.

IOTA Price Analysis

IOTA Price Analysis
Daily IOTA Price Charts by Trading View

The support zone between 50 cents and 55 cents is important for IOTA in the next few days.

While we must note that the past few days has been scarce of news as prices were moving within a tight 10 cents range with tops at 60 cents and bottoms at 50 cents, our last IOTA trade plan would have been activated subject to buyers thrusting prices above 60 cents in the process confirming the Morning Star pattern of Sep 13.

At the moment, none has happened and our last IOTA price prediction holds true.

So, unless there are sharp declines below 50 cents sucking in sellers or bulls breaking above 60 cents, we retain a neutral but bearish over-view on IOTA.

Author: Dalmas N


Crypto Price Analysis (EOS, XRP, XMR, BCH, ETH): Sept 17, 2019

Leading the recovery is Ethereum (ETH) which is stable but above $200. Indicating resurgence is recent Ethereum news that there was a marked increase of ETH trading volumes at BitFinex shortly after Arthur Hayes encouraged his followers to short ETH on margin. On the other hand, Ripple is leading the way with market building partnership moving Ripple products and XRP closer towards global use by financial institutions.

Let’s have a look at these charts:

EOS Price Analysis

Latest EOS News

In a dApp ecosystem that is dominated by gambling and betting apps, hackers did find a weakness in two gambling dApps running in the EOSIO blockchain making away with $250,000 worth of EOS last week. The first exploitation saw $24,000 worth of EOS siphoned off from DEOSGames in what development team termed as a good “stress test” which has resulted in significant improvement in the contract level. EOSBet was next and here, hackers could win money without staking any EOS and in the end the company had to fill a $236,000 hole.

EOS Price Prediction

EOS Price Analysis
Daily EOS Price Chart

On a weekly basis, EOS is up six percent but pretty stable on a daily basis. It’s easy to see why. Notice that Sep 13 candlestick did trigger short term buys after that high volume bar hit $5.5. Though our expectations was a confirmation of that bull engulfing candlestick, the result has been a lower time frame consolidation which are good entry levels now that prices didn’t dip below Sep 13 lows. If anything this is a classic effort versus reward scenario and as long as prices are above $4.5 and above the upper half of Sep 13 candlestick buyers stand a chance. In the meantime, risk on or conservative traders can wait for solid closes above $7 before initiating longs with targets at $9 and later $15 assuming there is a major price recovery.

Ethereum Price Analysis

Latest Ethereum News

Signaling a bottoming market, Ether weekly market volumes spiked to 2.9 million last week while on Sep 13, ETH daily volumes soared to 850,000 ETHs, the highest in more than a year. This is definitely a mark of a revival and coincides with periods where several analysts and developers had expressed their fears on the future of ETH, the facilitating currency of the Ethereum smart contracting platform. In the meantime, unsubstantiated reports claim that the Constantinople hard fork will hit the Ropsten test net by Oct 9. Shortly afterwards, the hard fork would be implemented on the main chain.

Ethereum Price Prediction

Ethereum Price Analysis
Daily Ethereum Price Chart

Sep 12 high volume pin bar did open the sluices for Ethereum buyers to enter the market. The result has seen a nine percent increase in the last week and the activation of short-term buys targeting Aug lows at $250. Visible from the charts, buyers are following through on the Morning Star pattern of early last week and going forward, Ether buyers can load on dips with stops at $180 in line with our last ETH price analysis. A counter move driving prices below $170 automatically nullifies this bullish projection.

XRP Price Analysis

Latest XRP News

At the rate at which Ripple is signing deals, the US Company may end up being the much sought-after financial solution provider by the end of this year just like Brad Garlinghouse, the CEO of Ripple, had projected. This is so because shortly after the South Arabian Monetary Authority (SAMA) had signed a deal that will see Saudi banks use xCurrent for monitoring capital flow in and out of the economy, NCB–National Commercial Bank (NCB), has announced a deal that will likely see the $120 billion bank join the Ripple Network as a connector between Asian and North American banks.

XRP Price Prediction

XRP Price Analysis
Daily XRP Price Chart

Overly, XRP prices are stable and likely to edge higher. By the end of last week, XRP prices are up one percent and building on that double bottom following the bounce off the 25 cents support mark. Of course, this is positive but from a neutral point of view, XRP bulls are not yet in charge as Sep 5 bearish engulfing candlestick overshadows bullish attempts. Going forward, we suggest initiating low volume XRP buys only when prices thrust above 30 cents while conservative traders are free to enter longs with targets at 70 cents once there is a conclusive, high volume close above 40 cents.

Monero Price Analysis

Monero Price Analysis
Daily Monero Price Chart

By adding seven percent in the last week, Monero prices did bounce off the main support trend line and $100 as projected in our last Monero price analysis. If anything, bulls are building on the three bar bullish reversal pattern and high volume candlestick of Sep 13 and odds are the first bull targets at $150 might be hit. Technically, Monero remain bearish and for this reason, the only time Monero conservative buyers are free to join in is when there is a strong breach at $150. When that happens, XMR traders are free to load up longs on dips with targets first at $200 and later $300.

Bitcoin Cash Price Analysis

Latest Bitcoin Cash News

During the CoinsBank Blockchain Cruise, Roger Ver said the fuse of computer science and economics is the main reason why he holds cryptocurrencies as Bitcoin Cash so dear. He went on to say that there are many benefits that cryptocurrencies can bring to the community and the economic freedom is the only way that will spur large scale mass adoption of cryptocurrencies.

Unexpectedly, Roger Ver also said people should use Litecoin more than Bitcoin because the latter “lost its way”. Insisting that there is a stark contract between what it was in 2011 and what it has turned out to be in recent times, he said the core root is because Blockstream and Bitcoin developers know nothing about economic code but are proficient in software code.

Bitcoin Cash Price Prediction

Bitcoin Cash Price Analysis
Daily Bitcoin Cash Price Chart

Though there is market wide revival of price, Bitcoin Cash is down eight percent week over week but candlestick formation in the daily chart could be the basis of higher highs this week. Encouragingly, Bitcoin Cash prices are still trading inside Sep 13 high volume bullish engulfing candlestick meaning the three bar bullish reversal pattern is still valid. For short term buys, we suggest Bitcoin Cash risk off buyers to initiate longs only when there are strong gains closing above $450. In that case, buying on dips with targets at $600 should be feasible as laid out in previous Bitcoin Cash price analysis. On the flip side, any dip below $400 cancels this projection and might see prices printing $300.

Author: Dalmas N


Crypto Price Analysis (BTC, BCH, ADA, EOS, TRX): Sept 14, 2019

With Bitcoin adding just four percent in the last 24 hours has had a magnifying effect on Bitcoin Cash, Cardano and a host of other cryptocurrencies. Conspicuous enough are the rapid gains in Tron, Bitcoin Cash and EOS. EOS for example broke off the upper limit of the consolidation which printed shortly after Sep 5 losses. All in all, it’s likely that altcoins would stabilize and inch higher as the week comes to close.

Let’s have a look at these charts:

Bitcoin Price Analysis

Latest Bitcoin News

The Chief Commercial Officer at BitPay, Sonny Singh says their company has “never been so bullish” on Bitcoin like they are now. Citing some fundamental development that could slow down sellers and in turn propel Bitcoin prices to new levels, Singh said they are in fact adding more staff to help deliver their services. BitPay is a Bitcoin and Bitcoin Cash payment processing provider for merchants and currently, Singh said, the Bitcoin market is “fishing for a catalyst”. Announcement that Morgan Stanley is plans on launching a Bitcoin derivatives market with underlying asset as Bitcoin could be a market trigger following Goldman Sachs temporary withdrawal.

Bitcoin Price Prediction

Bitcoin Price Analysis
Bitcoin Daily Chart by Trading View

In three months, Bitcoin price has bounced off the monthly support trend line in three different occasions. The recent bounce off from $6100 is but a clear indication that bulls are ready to drive Bitcoin prices towards our first buy trigger line at $6,800 and perhaps $7,200 a level from previous Bitcoin price analysis showed resistance.

In our case, we suggest placing mid-range buy triggers at around $6,500 and should it be hit today then risk off bulls can load small BTC sizes with first targets at $6,800 and $7,000.

However, for conservative traders waiting for clear Bitcoin buy signals, patience until after bulls breach the $6,800 mark is important. Thereafter, buyers can begin loading on dips with first targets at $7,200 and later $8,500 as by our Bitcoin price predictions.

Cardano Price Analysis

Latest Cardano News

Recent announcement from Emurgo, the business development wing of Cardano, said Metaps shall integrate ADA by November 2018. When they do, reports indicate, ADA shall be the preferred form of payment in more than 33K stores in South Korea. Undoubtedly, this shall be supportive of ADA whose prices have sunk more than 95 percent from after peaking late last year.

Cardano Price Prediction

Cardano Price Analysis
Cardano Daily Chart by Trading View

From previous Cardano price analysis, 12 cents on the upside and 7 cents as the lower limit were but important levels—and they still are. Notice that though our ADA sells are now active following Sep 12 high volume drop below 12, yesterday’s lack of confirmation could likely build enough upward momentum triggering our stops at 8 cents. It’s a possibility that we must be aware of and because of that, caution must prevail today.

In that case, we recommend holding off taking shorts for today and any thrust and close above 7 cents would certify Sep 12 break below as a fake break out. However, should Cardano sellers jump in and drive ADA prices below 6 cents, then our previous Cardano price prediction holds and we should let the trade run only exiting when solid reversal patterns print in days to come.

EOS Price Analysis

EOS Price Analysis
EOS Daily Chart by Trading View

A 10 percent spike in the last day translates to a breach above $5.5 triggering longs in the process. Thanks to yesterday’s bullish engulfing candlestick with relatively high volumes or market participation, odds of bulls having a go today is high. Due to these encouraging developments, we suggest buying EOS at pull backs in lower time frames with stops at yesterday’s lows at $5 with first targets at $7.

Tron Price Analysis

Latest Tron News
  • Beginning Sep 17, Bittrex will offer fiat trading pair for the TRX/USD. Like before, only select states will be eligible to trade and accounts formed after Sep 4 cannot trade this pair until later dates.
  • Sato Wallet and Exchange is the latest partner to join hands with the Tron Foundation. This partnership is a welcome addition to the community and token/TRX holders at this wallet can directly swap TRX for other tokens and vice versa. Besides, all internal transactions within the Sato Wallets would be free of charge.

Tron Price Prediction

Tron Price Analysis
Tron Daily Chart by Trading View

The last 24 hours has been perfect for TRX price and with a double-bottoms at Aug lows, Justin Sun’s coin is poised to add more. Notice that TRX added an impressive 15 percent by close of yesterday and the result is a rejection of sell pressure following Sep 12 pin bar which hinted of buys since volumes were remarkably high. Since yesterday’s trade range was high, our Tron price prediction points of bulls. As such we suggest buying TRX in lower time frames with stops at 1.6 cents and immediate targets at 3 cents.

Bitcoin Cash Price Analysis

Latest Bitcoin Cash News

Bitcoin Cash Price Prediction

Bitcoin Cash Price Analysis
Bitcoin Cash Daily Chart by Trading View

With a double bar bull reversal pattern and a bullish engulfing bar translating to a nine percent gain by close of Sep 13, it’s seems like Bitcoin Cash prices might be heading higher going forward. From yesterday’s Bitcoin Cash price analysis, Bitcoin Cash buyers should initiate long trades once there are solid moves above $500 or Aug lows. However, as we highlighted, considering the rates at which BCH is gaining ground, shift of momentum is largely due to shift of sentiment. In this regard, we suggest small size BCH buys with stops at Sep 12 lows at $410. Immediate targets should be at $600.

Author: Dalmas N


Crypto Price Analysis (ETH, ETC, TRX, XMR, ADA): Sept 13, 2019

A bright spot as bears threaten to drive prices lower is the contrarian trade that is about to print in Ethereum. It’s ambitious, yes but could spell the beginning of a new phase of bulls slowing down sellers and helping markets recover. Should ETH close higher, then Ethereum Classic (ETC) could follow suit now that UTrust has announced support.

Let’s have a look at these charts:

Ethereum (ETH) Price Analysis

News Highlights

The recent ETH tailspin has been damaging for many portfolios and it’s only naturally for affected investors to take to social media to express their two cents on the matter. However, in the midst of all the emotional filled opinions, sense prevails in Kevin Rooke, a cryptocurrency researcher and analyst. According to his research, ETH liquidation isn’t stopping any time soon and could be disastrous for price should ICO fund managers liquidate their $600 million worth of ETH in coming months.

In his eye opening findings, Kevin notes that this month’s expenditure of ETH has been the highest in five months tallying well with separate findings from Santiment, a crypto analytic service provider. Worse still, there are no “useful” dApps on the Ethereum network that could draw value. Further fueling the decline is Arthur Hayes literal encouragement of his followers to trade ETH/USD pair on margin at his BitMex exchange.

Price Analysis

Ethereum (ETH) Technical Analysis
Ethereum Daily Chart by Trading View

A 25 percent decline by end of Sep 12 saw ETH prices trading below the all important $200 mark but the sell party might be coming to an end. Considering all the noise of ETH sells, we shall take a contrarian approach mainly advised by yesterday’s event. After all, it’s up seven percent in the last day.

Notice that Sep 12 candlestick ended up as a pin bar with a remarkably long lower wick and behind the rejection of lower prices were high trading volumes.

In normal situations, this would have lead to a rapid depreciation towards our ultimate bear targets at $150 but prices were relatively stable absorbing bear pressure. Because of this, we recommend exiting part of ETH sells and fading the market at spot price with targets at $250 with stops at $165.

Tron (TRX) Price Analysis

News Highlight

Vitalik opinion that it will be hard for the cryptos to print 1000X gains in the near future caused a Twitter storm. And Justin Sun couldn’t hold his thoughts. In a tweet that got a response from Buterin, Sun believed that the entire world will turn into cryptocurrencies like a “black hole”. He added that before Google and Amazon reach the $1 trillion market capitalization, cryptos would be recording market caps upwards of $10 trillion. Though we agree with his assessment, only time will tell knowing that any figure near that market cap means a super rally is on the cards.

Price Analysis

Tron (TRX) Technical Analysis
Tron Daily Chart by Trading View

Like most coins under our preview, TRX prices are stable to say the least. Though registering reds, prices are stable and bears are yet to drive prices below Aug 14 lows triggering sells as laid out in previous TRX trade plans.

As such, we recommend taking a neutral to bearish position of TRX because of a prohibitive risk reward ratio preventing traders from executing trades in an uncertain market.

Thanks to a slight recovery in altcoins yesterday, chances are we might see gains today and in that case, aggressive traders can initiate longs at spot prices with stops at yesterday’s lows at 1.6 cents. Targets should be at Sep 5 highs at around 3 cents.

Cardano (ADA) Price Analysis

News Highlights

According to a recent update by Charles Hoskinson, the Cardano development team is of the opinion that human readable addresses shall mass adoption due to obvious benefits and ease of use. This is why the team is working on making this a reality. On the same mass adoption vein, Emurgo—the business development wing of Cardano announced that Metaps shall integrate ADA by November this year making it possible for users to make purchases using ADA in more than 33k business across South Korea.

Price Analysis

Cardano (ADA) Technical Analysis
Cardano Daily Chart by Trading View

A six percent drop by close of Sep 12 candlestick did drive prices below ADA’s ATLs at 7 cents. As seen from the chart, though we have a long lower wick, yesterday’s candlestick did close above 7 cents triggering our sells as laid out in previous trade plans.

Though there is a divergence, I recommend trading with our initial plan and that means selling at spot price, placing stops at 8 cents and letting this trade run until solid reversal patterns begin print. In the meantime, any high volume surge of prices above 8 cents nullifies this sell stance.

Monero (XMR) Price Analysis

Monero (XMR) Technical Analysis
Monero Daily Chart by Trading View

To reiterate, Monero is at a precipice and still trading within a down trend. Luckily though, Monero is finding support and is up three percent in the last day. Better still, bears didn’t push prices below the monthly support trend line and $100.

However, should there be a dip below $100, we suggest trading on break outs with stops at $110 and targets at $70 in line with our last Monero price analysis. On the flip side, any high volume spike that will see prices racing towards $110 shall nullify this projection.

Ethereum Classic (ETC) Price Analysis

News Highlights

UTrust, a payment platform has announced support for ETC and plans to integrate the coin.

Price Analysis

Ethereum Classic (ETC) Technical Analysis
Ethereum Classic Daily Chart by Trading View

From the charts, aside from adding three percent in the last day, the coin is moving in the direction set by Sep 5 depreciation which saw ETC sellers rejecting higher highs and reversing gains above $12.

However, what should steel bulls is hints of higher highs in lower time frames as buyers seems to make inroads all thanks yesterday’s long lower wick. If anything, sellers did retest Aug 14 lows and a more cautious approach before executing trades is to wait for how today close.

If price do close high then we suggest taking longs only when bulls print above $12. In that case, targets would be at $15 and later $18, the upper limit of our last trade range.

Author: Dalmas N


Crypto Price Analysis (BTC, EOS, TRX, XLM, LTC): Sept 12, 2019

While Bitcoin slows, news of Stellar Foundation acquisition of Chain did slow down XLM losses and instead injected momentum which drove prices towards the 22 cents mark. Though XLM don’t hold much swerve in the crypto space, these gains are a relief and could spur the next wave of altcoin buyers possibly rejecting lower lows. After all, the US SEC might change their stand on Bitcoin ETF and follow the Canadian route invigorating the dwindling hopes of crypto investors.

Let’s have a look at these charts

Bitcoin (BTC) Price Analysis

News Highlights

While the US SEC “work things out” Canada did break the ice on matters investment when they approved the first Bitcoin Trust Fund via First Block Capital Inc, an equivalent of mutual funds, allowing accredited investors to channel their capital from Retirement Savings or Tax Free Accounts to Bitcoin.

Although there are restrictions and retail traders are barred from making investment in a market that is considered volatile and risk, institutional grade investors can purchase units of this Bitcoin Trust fund available at Neo Connect under the ticker symbol FBCBT.

In this arrangement, FBCBT unit buyers would have exposure to Bitcoin but won’t be holding the underlying asset just like the way ETFs are structured. History shows that Canada always lead the US on matters finance and or adoption of new trade instruments and even as the US SEC ‘protect” their investors from “unregulated and unverified” crypto securities, the leap of faith shown by Canada might after all thaw the stance the US has towards market rejuvenating Bitcoin ETF.

Price Analysis

Bitcoin (BTC) Technical Analysis
Bitcoin Daily Chart by Trading View

Price wise, Bitcoin is pretty stable and even bullish attempts in the last day isn’t enough to change our bearish stand. After all, last week was extremely bearish with BTC registering double digit losses.

Considering the rapid rate of price declines and the level of market participation, it’s only obvious that bears might accelerate their drain.

Advised by this, we maintain a negative outlook and even though it would be ideal for sellers to breach and close below our support zone between $6,000 and $5,800, any close below $6,000 today or in the next day shall trigger the first wave of sell positions with conservatives heading full throttle once prices close below 2018 lows or the lower limit of our support zone. As before, our bear targets remain at $3,000 with expected intermediate targets at $4,500.

EOS Price Analysis

News Highlights

$4 billion later and it appears as if Block One, the publisher of the EOSIO blockchain has no “clue” of what to do with the money/profits. While they have been clear that part of their annual inflation would be channeled towards a treasury that will then fund dApp development, the proceeds of EOS token sale remain blurry. So far, there is no official working wallet. Neither is there a solid dApp from the team and that is a cause of worry.

Price Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

A four percent drop in the last day and the weight of Sep 5 sell pressure is beginning to show in EOS.

Needless to say, following that >25 percent single day drop of Sep 5, the tune was set by sellers and as long as prices are below $7, traders shall maintain a bearish stand. From the way candlesticks are laid out, we recommend holding out trading today until after there are solid breaks below $4, the lower limit of our $1 support zone in the daily chart.

However, risk off sellers can initiate shorts at spot rate with stops at $5.5 and aim for ambitious targets at $1.5—the same targets conservative traders should aim for once EOS break and close below $4.

Litecoin (LTC) Price Analysis

News Highlights

There is a new update for Litecoin core: Version 0.16.2 and all users are recommended to upgrade to this new edition. Launched on Sep 3, the releasing team said the update fixed several bugs and made some improvements on the code making it more robust. Development team did away with -blockmaxsize option and instead created a lee way specifically for miners to decide the weight of their blockchain through the -blockmaxweight option.

Price Analysis

Litecoin (LTC) Technical Analysis
Litecoin Daily Chart by Trading View

A seven percent drop in the last day makes Litecoin one of the top losers in the top 10 coming second only after Cardano (ADA).

Visibly, chances are today we might see a whole candlestick printing below the $50 mark which also doubles up as Aug 2018 lows triggering sells as emphasized in previous LTC trade plans.

However, considering the rate of erosion, aggressive traders can load up at spot prices with stops at $60 and target the penultimate $30 support level. On the reverse side, any sudden spike of price registering gains above $60 re-balances this projection and cancels our bearish stand.

Tron (TRX) Price Analysis

Tron (TRX) Technical Analysis
Tron Daily Chart by Trading View

Despite partnerships, exchange listings and TRX use at several outlets as Bitcoin Superstore, TRX is grappling with sellers.

From the charts, TRX is on a down trend shedding eight percent in the last day and likely to break below Aug 14 pin bar and lows at 1.5 cents.

If this happens today and a whole bear candlestick happens to print below this level, then we suggest taking shorts with targets at Jan 24 ultimate lows.

In the mean time, TRX sell trades are still running and traders can actually lock in some profits as traders anticipate bears to breach 1.5 cents.

Stellar Lumens (XLM) Price Analysis

News Highlights

Stellar Foundation, the custodian of the Stellar blockchain has acquired Chain in cash for around $40 million, a source privy to the matter has revealed. The new acquisition has lead to the formation of a new entity, the Interstellar where the former CEO of Chain, Adam Ludwin will act as the project CEO while Jed will fill the CTO position. The deal was concluded on Sep 5 though there has been no official communication from the two parties.

Price Analysis

Stellar Lumens (XLM) Technical Analysis
Stellar Lumens Daily Chart by Trading View

The response from the market has been immediate and so far, XLM did contain losses after initially adding eight percent.

Though we now have a three bar bullish reversal pattern printing right in the midst of sellers, the fact that this reversal did happen at around 2018 lows could potentially be a hint of positive things to come.

Because of this, traders should exit their shorts and hold off trading only until after XLM prices breach the 25 cents mark. When that happens, buyers can load on dips with targets at 30 cents and later 50 cents.

On the flip side, any clip of yesterday’s gains driving back prices below 18 cents could potentially lead to XLM printing 8 cents in days to come.

Author: Dalmas N


Crypto Price Analysis (DASH, ADA, ETC, NEO, mIOTA): Sept 11, 2019

Every bear candlestick that prints is shaking out weak positions. At the moment, Cardano is the center of attention. If today we see ADA sellers following through Sep 5 depreciation and printing below the coin’s all-time lows at 7 cents, we might see a flurry of sell positions entering the market potentially pushing prices to oblivion, just like in Tron. On the bright side, DASH is steeling the altcoin market and closed higher yesterday.

Let’s have a look at these charts:

Cardano (ADA) Price Analysis

Cardano (ADA) Technical Analysis
Cardano Daily Chart by Trading View

On a weekly basis, Cardano (ADA)—is bleeding and down 30 percent. Worsening the already tight situation is yesterday’s nine percent dip. The result has been a bear candlestick and sellers testing ADA’s all-time lows at around 7 cents.

Though this was expected following early August breach and close below 12 cents, the trend resumption phase which we are currently trading at could see ADA printing new 2018 lows below 7 cents. Because our sell trades initiated after Aug 8 holds true, we recommend locking in some profits while those who are yet to short can wait for a convincing close below 7 cents before loading on pull backs.

DASH Price Analysis

DASH Technical Analysis
DASH Daily Chart by Trading View

Of all coins under our radar, it is quickly emerging that DASH is after all the most stable. Widespread use in economies ravaged by hyper-inflation might be drawing demand and supporting the coin but technicals point otherwise.

What we do have in the daily chart is a classic effort versus results situation as buyers struggle to reverse Sep 5 gains. Evidently, after yesterday’s pin bar, sellers’ intentions are clear. They are in charge and the long upper wick points to their liquidation on every high in lower time frames.

Therefore, considering the week over week loss of six percent and yesterday’s resistance of higher highs, we recommend taking sell trades at spot rates with stops at Sep 5 highs at $230 with first targets at $160 and later $130.

NEO Price Analysis

News Highlights

Deep Chain, a NEO project that claims to be a digital asset exchange specifically for the AI industry has launched the Deep Token Exchange. The main aim of this platform is to provide the necessary exposure for AI companies struggling to fund their project and consequently break into the AI space.

Technical Analysis

NEO Technical Analysis
NEO Daily Chart by Trading View

Like most smart contract platforms, NEO is on the losing end with majority of these losses stemming from Sep 5 declines. The result has been the resumption of bears.

Even though prices have been steadying in the last day, odds are sellers might build enough momentum, confirm last week’s sell pressure and drive prices below $15 triggering another wave of bear pressure with targets at $4. This level is NEO’s all-time lows.

Ethereum Classic (ETC) Price Analysis

News Highlights

Enthusiasts can now track Ethereum Classic dApps at: dappdirect.net

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Ethereum Classic Daily Chart by Trading View

The thing is: sellers are reigning supreme and reversing gains. A stand out in our analysis is that conspicuous Sep 5 candlestick which not only involved high volumes but was marked by a wide trading range.

The candlestick was enough to stamp ETC sells and since $12 is an important support line in our analysis, we suggest selling on every high despite the last two days rejection of lower lows.

In any case, ideal sell zone would be anywhere between $12.5 and $13 when ETC buyers retest the main resistance line former support at $12. Once a high volume, bearish engulfing candlestick prints confirming Sep 5 sells, traders can initiate shorts with targets at $9.

IOTA (IOT) Price Analysis

News Highlights

The IOTA community is ballooning and with every successful meet up, more developers and pure enthusiasts join the team. This was evident in the last meet up in Hamburg. Aside from internal growth, more businesses especially in Germany are accepting a host of cryptocurrencies including IOTA as payment and this is positive.

Technical Analysis

IOTA (IOT) Technical Analysis
IOTA Daily Chart by Trading View

Technically, IOTA like the rest of the markets is bearish and in the last week for example, IOTA did lose 18 percent. However, in the daily chart, prices are stabilizing and from our analysis, the area between 60 cents and 70 cents is important.

We have mapped out this area as a potential resistance zone and an ideal price range for selling IOTA. Otherwise, conservative sell traders can take a neutral approach only initiating trade once prices break below 50 cents.

Thereafter, they can zoom out to lower time frames and short on every high with targets at 30 cents as highlighted before. All in all, any breach and close above 70 cents or Sep 5 highs nullify this bear projection.

Author: Dalmas N


Crypto Price Analysis (ETH, EOS, XMR, BCH, XRP): Sept 10, 2019

Fundamentals and digital asset prices are diverging with developments on the fundamental front painting a bullish picture in the face of bears. Nonetheless, events of last week could further damp prices even if last week ended on a high. We can see that happening in Ethereum. A combination of unsure ICO fund managers dumping ETH, indecision on matters coin reward and the pressure of Constantinople is fueling sell pressure. In the meantime, EOS and Monero are trending at key support zone and the way today’s candlestick close would most likely influence short to medium trend of these coins.

Let’s have a look at these charts:

EOS Price Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

Regardless of how EOS prices behave today or in the coming days, Sep 5 candlestick will remain influential. It’s not hard to see why, not only did it signal the beginning of the third stage, the bear resumption phase of the bear break-out pattern ignited in early August when bears broke the $7 mark but it also emphasized just how sellers have been rampant reversing 2017 gains.

Either way, yesterday’s price action was a short in the arm for EOS and could potentially be the anchor double bar bull reversal candlestick propelling prices back to $7, our immediate resistance line and Sep 5 highs.

Since our main support line lies at $4, selling at spot prices won’t make sense from a risk reward perspective and therefore, we shall recommend taking a neutral stand today. However, should today end up bullish confirming Sep 8 longs, we shall exit previous sells and initiate small lot size longs with stops at Sep 8 lows and targets at $7.

Ethereum (ETH) Price Analysis

News Highlights

Mining ETH is now unprofitable. It’s cost $152 to mine one ETH and that’s exclusive the cost of electricity and hardware. Well, a massive drop of hash power from 300TH per second to 270 TH per second is the result and it could get worse for industrial miners who have to factor in other costs of human capital and cooling equipment. Further worsening the situation is the massive liquidation of ETH accrued from token sale by ICOs accelerating ETH losses.

Technical Analysis

Ethereum (ETH)Technical Analysis
Ethereum Daily Chart by Trading View

Unless otherwise, ETH bears are in charge and it’s likely that they shall drive ETH prices towards the $150 which is roughly $50 at current spot rates.

Going forward, Sep 5 is a trend setter and even if there is a recovery, $250 would act as our minor resistance line potentially capping gains.

So technically, the combination of fundamentals and sliding BTC prices makes it a tall order for ETH buys and as such we recommend selling on every high in lower time frames with stops at $230 and targets at $150 as suggested in previous trade plans.

XRP Price Analysis

XRP Technical Analysis
XRP Daily Chart by Trading View

From the chart, XRP is finding support at around the 25 cents to 30 cents zone.

The 25 cents mark is defined by that high volume pin bar of Aug 14 and even if we are net bearish due to that high volume, wide trading range candlestick of Sep 5, a close above 30 cents today might be the necessary impetus to drive prices back to 40 cents.

On the other hand, any drop below mid-June three bar bull reversal pattern could drive prices towards the ultimate 15 cents level. For now and factoring in recent price consolidation in the after math of Sep 5 decline, odds of a decline confirming that candlestick is likely.

Monero (XMR) Price Analysis

Monero (XMR) Technical Analysis
Monero Daily Chart by Trading View

Despite shedding 10 percent in the last week, the privacy centric coin Monero is back in the top 10 and just like BTC and ETH; it is stable in the last day. A look in the daily chart and it appears as that Monero prices are finding support at the minor support trend line.

This support is at around the $100 psychological level and previous support line for June and July further asserting its importance. Given the influence of $100 and how it has successfully supported XMR prices, if Monero closes higher today, we recommend exiting previous shorts with targets at $150.

If not and there is a breach of $100 as prices tow with last week’s trend, our previous shorts shall hold true as traders aim for $50.

Bitcoin Cash (BCH) Price Analysis

News Highlights

Soon, a new Bitcoin Cash tipping plugging, Money Button would be launched.

Technical Analysis

Bitcoin Cash Technical Analysis
Bitcoin Cash Daily Chart by Trading View

Regardless of yesterday’s gains, odds are the $450 minor support line would be broken through maintaining our bear stand. Once that happens, the third phase of a bear break out pattern ignited by bears in early Aug would be true.

As such, going forward, taking shorts on every high in lower time frames preferable at or around $530-$580 region is preferable. Bear targets at $300 remain constant though high volume appreciations above the $600 and Sep 5 highs nullifies this projection.

Author: Dalmas N


Crypto Price Analysis (XLM, XRP, DASH, BCH, EOS): Sept 7, 2019

Altcoins are investment opportunities and with raging bears, there might be an opportunity for traders to ramp up their holdings with every low. While appealing, this is not the perfect time especially for Bitcoin Cash enthusiasts and investors. VP of Blockstream, Togami thinks a 51 percent attack is a real possibility and the network should take bold but necessary steps to boost its hashes. In the mean time XLM and its competitor are on a slide but are relatively stable unlike EOS and DASH whose valuation might be headed to $150 after encountering mid-range resistance.

Let’s have a look at these charts:

XRP Price Analysis

News highlights

XRParrot is a complementing service that will facilitate fast and easy conversion of Euro to XRP. The product is yet to launch but the creator says he prioritizes simplicity. As such, to expedite conversion, a simple phone number and a SEPA account would be needed required.

Technical Analysis

XRP Technical Analysis
XRP Daily Chart by Trading View

Even though yesterday was positive for XRP coin holders, the fact that prices are now trading below the bull flag set in motion by Sep 5 candlestick should pour cold water on bullish attempts. As a matter of fact, yesterday’s gains should be another platform for traders to unload their sell positions at better prices. In that case, stops should be at Sep 6 highs at 35 cents with targets at 15 cents as laid out in our previous XRP trade comments.

DASH Price Analysis

Bitcoin Cash (BCH)Technical Analysis
Bitcoin Cash Daily Chart by Trading View

If anything, it was a mid range reversal for DASH. Notice that at around $215, prices did slow down and shortly after, there was a collapse following the general drop of Bitcoin on Sep 6. Though DASH prices were in consolidation mode with main resistance and previous targets at $270 a price tag of our interest, this mid range reversal from previous support now resistance hints of the underlying DASH support—it is weak.

Further spoiling bull attempts are the overall trend in the last eight months which has been draining for bulls. Therefore, while traders were expectant of gains, selling at spot prices with targets at $110 and stops at around $200 would be trading with the trend increasing odds of turning in a profit.

EOS Price Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

Like most coins under review, EOS is also slipping and this is despite efforts by the development team to solve RAM problems and unnecessary hoarding of network resources. Due to recent depreciation, prices did find a glass ceiling at $7—previous support now first level resistance as mentioned in previous trade plans and as it is, prices are on a slide according to Aug 8 ignited bear break out pattern. Considering the wide trade range and high level of participation, EOS sellers are definitely in charge and the digital asset is poised for further losses in this third stage—the bear resumption phase. Targets should be at $4 and later $1.5 with safe stops at around $6.

Stellar Lumens (XLM) Price Analysis

News Highlights

IBM and a couple of other high market cap traditional tech industries are interested in Stellar blockchain. Though yet to be substantiated through an official statement, Facebook are also drawing lessons and exploring the Stellar network. Nevertheless, IBM is leading on implementation race with Blockchain World Wire already in place. This payment solution allows users to come enjoy fast and cheap cross border payment solution reliant on the blockchain technology.

Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Stellar Lumens Daily Chart by Trading View

Regardless of recent price movements, Stellar Lumens was and continues to be stable relative to most coins in the top 10. From the chart, it’s clear that Sep 5 bearish engulfing pattern was enough to trigger a break out breaching our monthly support trend line and the ascending wedge meaning XLM traders are officially in charge.

All things constant—and by trading with the trend, selling at spot prices with targets at 18 cents and later 8 cents increases odds of being profitable. The only caution we should take is a correction closing above 25 cents—our official resistance and bull trigger line. If that doesn’t happen this week then placing stops at that level would be safe enough from bull spikes common after rapid depreciation.

Bitcoin Cash (BCH) Price Analysis

News Highlights

Warren Togami, the VP of solutions at Blockstream—the outfit spearheading Bitcoin LN development–have some tough assessment of Bitcoin Cash. He talks of hash rate and how Bitcoin Cash network is literally a sitting duck against determined attackers keen on creating double spend situations on the network. Over time he notes, the Bitcoin Cash network has been losing hash and as it stands, it’s hash rate is eight percent that of Bitcoin making it vulnerable yet valuable coin.

Technical Analysis

Bitcoin Cash (BCH)Technical Analysis
Bitcoin Cash Daily Chart by Trading View

The susceptibility of BCH spilled over to prices and after sinking 16 percent two days ago, yesterday bears added a further eight percent meaning our sell recommendation following that rejection at $600 is well on course. As such, we recommend selling at stop price with stops at yesterday’s highs with targets at $300 as highlighted in our BCH price analysis.

Author: Dalmas N


Crypto Price Analysis (ADA, ETH, ETC, TRX, XMR): Sept 6, 2019

The influence of BTC is clear and even if most coins were in a temporary bullish state, a recovery of some sorts, a dip in BTC price was enough to trigger a market wide depreciation with some as Cardano (ADA), Ethereum (ETH) and Tron (TRX) losing on average 15 percent.

Still, the market is not slowing down and today we expect prices to edge lower though odds of a consolidation or prices closing higher cannot be discounted. This often happens after periods of high volume volatility as witnessed yesterday. Of all coins, XMR is a stand out for sellers. The coin is reversing from the main resistance line at $150 and its valuation may likely half to $75 in coming weeks.

Let’s have a look at these charts:

Cardano (ADA) Price Analysis

News Highlights

Can Cardano follow the Ether route and spiral towards zero as Jeremy Lubin—the technical advisor of Stellar platform proposes according to his latest piece published at TechCrunch. As a smart contracting platform with similar operations as Ethereum, investors should have valid reasons to ask these sort of questions especially when Charles Hoskinson said tokens would have the same class as ADA, the main native coin. Could this be the trigger that would cause start ups to decline using ADA for dApp or other on chain executions?

Technical Analysis

Cardano (ADA) Technical Analysis
Cardano Daily Chart by Trading View

As reiterated in our previous technical analysis, BTC and altcoins as Cardano share a direct correlation. So, when BTC sunk $300 in less than 45 minutes, it was inevitable for Cardano (ADA) to follow suit. The coin is down 15 percent in the last day and while a dark cloud cover prints, our previous long positions have been cancelled due that high volume bear candlestick. Yesterday’s candlestick means our long position are now null and instead, sellers should initiate trades at spot rates with stops above yesterday’s highs at 11 cents with first targets first at ADA’s ATLs at 7 cents and even lower.

Ethereum Classic (ETC) Price Analysis

News Highlights

CoinBase Pro will soon launch GBP pairings for ETC and other listed coins according to David Farmer, the General Manager of the exchange. This announcement comes a month after the company offered GBP support and acquired an e-license from the FCA.

Technical Analysis

Ethereum Classic (ETC ) Technical Analysis
Ethereum Classic Daily Chart by Trading View

Like the rest of the altcoins market, yesterday’s bearish engulfing pattern crashing ETC past the main support line at $12 is a stand out. With it, our buy trades building on Aug 15 bullish engulfing candlestick were obliterated and at the moment, odds are ETC sellers are in charge. All in all, we recommend shorts now that sentiment is shifting and BTC is on meltdown. Though conservatives can wait for a clear break below Aug 14 and 15 lows, taking shorts now with stops above yesterday’s highs means entering at better prices within an overly bearish market complete with leading candlesticks.

Ethereum (ETH) Price Analysis

News Highlights

Analysts are speculating that ETH is struggling because most ICO fund managers are cashing out or hoarding the coin as they transact OTC. Though this holds some water considering Ethereum is specifically designed for asset tokenization and running special dApps, the general market sentiment made worse by the ideal possibilities of Jeremy Lubin arguments could further damp prices. Besides, miners are disgruntled due to slashed rewards and a potential hiking of the network’s difficulty bomb ahead of Constantinople.

Technical Analysis

Ethereum (ETH) Technical Analysis
Ethereum Daily Chart by Trading View

Surprisingly, Ether is one of the largest coins on the losing end yesterday. On a daily basis, ETH is trading 14 percent lower and Sep 5 candlestick is clearly a break out bar after periods of consolidation as highlighted in previous Ethereum (ETH) price analysis. Now that prices are syncing with the general trend and effectively crashing bulls’ ambition, traders can enter short at every pull back in lower time frames with targets at $150. After all, the break out is a distribution and a resumption of trend set rolling by Aug 8 bears.

Monero (XMR) Price Analysis

News Highlights
  • For some reasons, Changelly, the popular registration free crypto to crypto exchange is under fire for holding a large amount of Monero from a user while basing their defense on suspicion. Saying the risk management team can withhold coins should the user fail to provide the necessary KYC documentations, though that doesn’t prevent them from accepting funds.
  • MEGA 3.39.4 extension of Google Chrome has been compromised and attackers can actually steal your Monero and ETH straight from MyMonero and MEWs.

Technical Analysis

Monero (XMR) Technical Analysis
Monero Daily Chart by Trading View

It might not be that perfect but what we have in the daily chart is a rejection of higher highs at around main resistance line at $150. Following yesterday’s price liquidation, XMR longs can exit their trade and fade their previous move by shorting at current price with stops at $150.

First targets should be at the base of this consolidation at $75 now that it’s clear—across the altcoin spectrum that sellers are on the upper hand. The only move that could potentially cancel this projection is a move similar to yesterday’s rallying past $150 hitting stops.

Author: Dalmas N


Crypto Price Analysis (BTC, XLM, TRX, EOS, LTC): Sept 5, 2019

The crypto market is nascent and in such a developing sector, speculations and rumors can breed paranoia. Like the recent activation of Bitcoin wallet holding 111,114 BTCs after four years of hiatus. While it is good and shows intent, it may as well be a bullish damp now that its owners are liquidating their holdings in several exchanges. Nevertheless, most coins sensitive to BTC and after today’s flash crash, altcoins are literally melting confirming the general skepticism of altcoins bulls.

Let’s have a look at these charts:

Bitcoin Price Analysis

News Highlights

After four years of dormancy, a Bitcoin wallet with 111,114 BTCs worth $800 million at current spot price is now active. As expected, the sphere is ripe with speculations on who might be the owner of the large, old whale account. Some say Satoshi, the anonymous Bitcoin network creator is back while others are a bit cool saying the account might be related to Mt Gox where a civil Rehabilitation Scheme is ongoing thanks to the efforts of the Japanese FCA. Whether they are right or wrong remains unclear but the movement of Bitcoin from this whale account to exchanges mean the wallet owner is keen to cash out and this could contribute negatively to price.

Technical Analysis

Bitcoin (BTC) Technical Analysis
Bitcoin Daily Chart by Trading View

All things constant, recent higher highs in Bitcoin prices have not only been positive for the crypto market but went a long way in instilling confidence in investors battered by bears. From the charts, it’s clear that bull momentum is waning and after today’s five percent dip in prices, we now have a nice bearish engulfing pattern retesting the upper limit of our support. Because of this slowdown, exiting trades at spot is important. Should tomorrow end up lower, we recommend selling and aiming for $6,000 once more.

EOS Price Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

Overly, EOS is bottoming up and it might be reasons to do with on chain developments and most importantly the way RAM resources are made use of in the EOS network. Anyway, at spot prices, it’s clear that bull momentum is fading and after today, we should have a bearish Evening Star pattern in the daily chart.

After all, after today’s break down, prices are down 13 percent in the daily chart and the result is that dark cloud cover at $7, an important resistance level in our analysis. Overly this means buyers found a glass ceiling and sellers are flocking back to the market. Therefore, the best approach to capitalize on this new found momentum and to sync back to long term momentum is to sell at spot with targets at $4 with stops at $7.

Litecoin Price Analysis

Litecoin Technical Analysis
Litecoin Daily Chart by Trading View

Like BTC market, there is a sharp downturn of prices and though unexpected, LTC sellers are back rebuffing bullish attempts as clearly demonstrated in the daily chart. Not only do we have a bearish engulfing pattern right at resistance—previous support at $70 but prices but this strong and high volume rejection of higher highs completes another re-test phase and ushers in the next wave of sell pressure, the bear trend resumption phase. As it is, we recommend shorting Litecoin at spot prices with stops at $70 and first targets at $50 and later $30 as laid out in our last trade plans.

Stellar Lumens Price Analysis

News Highlights

After years of successful partnerships, IBM now has a cross border payment solution, Blockchain World Wire which make use of Stellar platform and XLM to facilitate near instant fiat remittance.

Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Stellar Lumens Daily Chart by Trading View

Of all the coins under our review, Stellar Lumens prices are haphazard to say the least. Aside from printing encouraging highs just like the majority of coins under our radar, prices are moving inside an ascending channel with caps at 25 cents on the upside and the support trend line on the downside is injecting momentum and buoying bulls.

At current prices, XLM is trading near the apex of this wedge and as history shows, a break out is imminent. In case there is a break above 25 cents, then we suggest buying on dips with first targets at 40 cents and 50 cents.

On the reverse side, any breach below the support trend line could mean another wave of sellers aiming for 18 cents—2018 lows.

Tron Price Analysis

News Highlights
  • To spur ecosystem participation, Tron has announced that it shall be rewarding users who vote for their favorite super representatives.
  • Various news sources indicate that the Tron network now has more active accounts than EOS, a claim that has been supported by Tronix.

Technical Analysis

Tron (TRX) Technical Analysis
Tron Daily Chart by Trading View

Though bullish courtesy of last week’s higher highs, TRX continues to taper and confining its movements is Aug 28 high lows and the resistance lines of this clear bull flag.

Either way, today’s 12 percent clip of bullish momentum spells down for buyers and odds are we might see a meltdown as TRX reacts to BTC collapse. Largely because of this, we suggest shorting TRX at spot rates with stops at 2.7 cents and targets at Jan 24 lows. This also translates to exits of previous longs position for risk off traders with active buys after that thrust closing above Aug 17 highs of 2.3 cents.

Regardless, we shall recommend a neutral stand as risk reward scenario remains prohibitive. Instead, once buyers close above 3 cents, traders can ramp up longs on pull backs with first targets at 4 cents.

Author: Dalmas N


Crypto Price Analysis (DASH, NEO, mIOTA, ADA, ETC): Sept, 4 2019

A stand out in the altcoin space is that surge of DASH prices. On a weekly basis, prices are trending above $160 and back in the top 10 after adding 28 percent. Perhaps their near majority share in the Venezuelan market is a reason feeding bulls but it might partly have to do with Bitcoin gains. Other than DASH, Cardano and especially NEO stand a chance of further gains and should in fact be our focus coin of the week.

Let’s have a look at these charts:

Cardano (ADA) Price Analysis

News highlights

The market is generally gearing for Bittrex ADA/USD listing tomorrow. As always, the crypto market is selective and reaction depends on the reputation of the listing exchange. Discouragingly, unless it is CoinBase, most coin listings are none movers. Still, after tomorrow the Cardano market shall have extra liquidity and a wide attention spectrum following this addition. After all, it’s an American exchange though it offers services at select states and international clientele.

Technical Analysis

Cardano (ADA) Technical Analysis
Cardano Daily Chart by Trading View

Two weeks later and ADA is still moving below Aug 17 highs in a range. Nonetheless, we retain a bullish outlook expecting on chain development and other fundamentals to provide the much needed impetus for a break above 12 cents—our main resistance line.

However, as stated in our last ADA  analysis, prices should first break above 10 cents and after that, strong series of higher highs could confirm last week’s gain and cancel the general bear break out pattern set rolling by Aug 8 dip below 12 cents. If not and sellers push prices below 8 cents then sooner or later, there would be a retest of 7 cents, ADA’s ATLs.

NEO Technical Analysis

News Highlights

The Smart Economy network could potentially forge a new working relationship with Japanese local authorities after they receive praise especially for their innovative non-mining BFT based consensus algorithm—dBFT or the delegated Byzantine Fault Tolerance.

Technical Analysis

NEO Technical Analysis
NEO Daily Chart by Trading View

Week over week, NEO is up 14 percent and that means prices are now trading above the main resistance trend line and triggering buys as per our last NEO price analysis. Additionally, prices are trading above Aug 17 highs and with Aug 27 bullish confirmation, our longs are official.

Solely because of this, we recommend taking longs at current prices and placing safe stops at $18 with first targets at $25 and later $40. Notice that at $18, prices did find support and coincidentally that is previous resistance trend line now support confirming our long bias that the market is realigning and buyers are entering the space.

Ethereum Classic (ETC) Technical Analysis

News Highlights

BTC.com-which is one of the largest mining pools in the world that has the backing of Bitmain, the multi-billion dollar ASIC chip monopolist, has announced support for ETC and now interested CPU or GPU miners can connect through their portal. With this new option and mostly influenced by profitability, miners can easily switch their mining power between ETH and ETC just like it is possible between BTC and BCH. Rewards would be in Full Pay per Share basis.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Ethereum Classic Daily Chart by Trading View

Of all coins, ETC is perhaps one of the most undervalued digital asset in the sphere. Like Litecoin, it was a pioneer coin and a fork off Ethereum and was surprisingly available at CoinBase before being purged. Its relisting not only sparks new interest but comes at a timely moment when ETC is trading near all-time lows.

Coupled by technical events that buoy prices as highlighted in our last trade plans, ETC is now trading above main support at $12 and likely to add to their gains this week. Risk off traders can load up at current prices with stops at $13 and first targets at $18 while conservatives and risk on traders should only buy on dips once there is a conclusive close above $18—our immediate resistance line. Thereafter, ETC bulls might enjoy the ride up until a fair value is struck upwards of $40.

DASH Price Analysis

News Highlights

KRIPTO which are DASH supporting smart phones are now available for sale in Caracas, Venezuela. Venezuela is oil rich but is still struggling economically and in the face of hyperinflation which has so far rendered their native currency, the Bolivar useless, citizens are finding solace in DASH and other cryptocurrency. Statistics show that Venezuelans use DASH to settle their day to day undertakings and that’s why DASH are doubling down their effort developing infrastructure to push for mass adoption.

Technical Analysis

DASH Technical Analysis
DASH Daily Chart by Trading View

Last week’s 34 percent acceleration of DASH prices propelled it close to the top 10 and in the process broke above previous resistance now support as Sep 1 candlestick shows. Overly, our DASH trade plan was crystal and going forward we shall retain a bullish outlook with every pull back in lower time frame a buying opportunity for bulls eyeing for $270 or July highs.

It’s simple to see why: First, aside from the break out of Sep 1, there was a spike in volumes and prices edged higher towing with Aug 17 price expectations. Then again, even after yesterday, bears are yet to close below Sep 1 lows meaning bulls have been successful in soaking that sell pressure and from an effort versus result perspective, odds of further upsides remain elevated.

IOTA (IOT) Price Analysis

News Highlights

Straight from creating a scalable network which settles fast and is efficient, IOTA is also cementing its stead when it comes to forming useful collaborations with tech companies. Their partnership with Fujitsu and Volkswagen for example has drawn exposure to the foundation and brains behind the Tangle. Aside from this, IOTA has made their intention known about their plans of creating a data market place.

Technical Analysis

IOTA (IOT) Technical Analysis
IOTA Daily Chart by Trading View

Even a 15 percent surge in price last week didn’t thrust IOT prices into the top 10. At the moment, it is at the fringes but should prices recover, breaking above the minor resistance line of this bull flag and Aug 28 high volume candlestick, IOTA might displace Monero and USDT in the top 10.

After all, there is a high possibility of that happening and from our previous trade plans supported by candlestick formations of the last week, bulls seem to be in charge.

Notice that despite recent lower lows, prices are still oscillating inside Aug 28 high low and confirming Aug 17 bullish engulfing candlestick meaning mores long positions are entering the space.

Author: Dalmas N


Crypto Price Analysis (BCH, XMR, ETH, XRP, EOS): Sept 3, 2019

After weeks of lower lows within Aug 17 high lows, most coins under our review broke above key resistance lines triggering set buys. Leading the pack is Bitcoin Cash which despite on-chain differences between nChain and Bitcoin ABC is up more 20 percent in the last week and trading solidly above $600, our last buy trigger line. Ethereum is lagging but could edge higher this week now that there has been a compromise on matters miner Ether rewards and adjustment of its network mining difficulty.

Let’s have a look at these charts:

EOS Price Analysis

News Highlights

As part of the BlockWorld 2018 conference, EOS was awarded as the best Blockchain protocol and platform for 2018. The event took place in San Jose, California and the theme was about developing the decentralized cloud where blockchain related topics as smart contract development and the future of internet took center stage. In all, EOS continues to chart the way in matters excellence, technology applicability as well as innovation. The Dan Larimer brainchild continue to dominate the CCID chart and in the last three months, EOS continue to top the chart as it is seen as one of the most promising platform to take on the pioneer of smart contracting and asset tokenization platform, Ethereum.

Technical Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

Though not perfect, last week ended up as bullish adding a massive 25 percent on a week over week basis. It’s understandable why gains were a stand out: EOS prices were basically in a consolidation before last week bullish engulfing and trend reversing candlestick. While we can make a trading recommendation from last week’s candlestick and ramp up longs in lower time frame now that we have a clear Morning Star reversal pattern right off $4, the best and the most prudent approach is to wait for conclusive thrusts above $7. This level is the immediate resistance line and buy trigger as laid out in our last EOS trade iterations.

Ethereum (ETH) Price Analysis

News Highlights

One side had to give way and well, it appears the Ethereum difficulty bomb hard code implementation would be delayed by another 18 months. Aside from that, miner Ethereum block rewards would go down to 2ETH from the current 3ETH. This is of course a temporary fix and ways to appease miners who can at anytime shift their hashes should they not find mining Ethereum profitable. Ethereum is preparing for the second hard fork as part of network transition to Serenity and road map towards proof of stake.

Technical Analysis

Ethereum (ETH) Technical Analysis
Ethereum Daily Chart by Trading View

Like the rest of the market, ETH is up five percent but from the chart, prices are actually in range mode and yet to breach the first level of resistance at $330. Regardless, considering the general sentiment and gains, we suggest buying at spot rates with stops right at $250, the floor of this range. Reasonable first targets should be at $350 and later $400 assuming momentum is high.

XRP Price Analysis

News Highlights

Stefan Thomas’s Coil is in closed beta and as it uses XRP and InterLedger protocols, investors of XRP should find a reason to stay positive. Coil wants to solve one of the original sins of internet, the lack of in-build monetization systems via ILPs. Their main objective is to “level the playing ground for content creators”. Though the announcement for testing isn’t public, select parties have been invited for testing.

Technical Analysis

XRP Technical Analysis
XRP Daily Chart by Trading View

Overly, XRP is up three percent and encouragingly, it continues to reject lower lows steeling the resurgent buy momentum of the last couple of weeks. Even if the market is upbeat with most expecting break outs, XRP is yet to close above Aug 17 highs and as a matter of fact, prices continue to accumulate horizontally. From the charts, we can judge that buyers stand a chance simply from an effort versus result perspective—more than 12 days of sell attempts, bears haven’t managed to reverse Aug 17 gains. Because of this, traders can hold off trading but should engage longs once there is a break above that bull flag with immediate targets anywhere between 45 cents and 55 cents.

Monero (XMR) Price Analysis

News Highlights

A controversial report from research group, Satis places Monero valuation at $18,500 in the next ten years. That’s about x100 increase in market valuation at current prices making this privacy centric and high liquid coin one of the most sought after undervalued asset in the space.

Technical Analysis

Monero (XMR) Technical Analysis
Monero Daily Chart by Trading View

A 24 percent surge in the last week means XMR did close comfortably in bullish territory in the process confirming bullish attempts of Aug 15-17. Notice that Aug 31 buy pressure did drive prices above the $100 psychological resistance level and Aug 17 highs and because of this, the path of least resistance seems to be on the upside. That’s why we recommend buying on dips in lower time frames with safe stops at $100–$110 is reasonable. As per our last highlights, first targets should be at July highs at $150.

Bitcoin Cash (BCH) Price Analysis

News Highlights

Encouragingly, Bitcoin Cash prices are immune to Bitcoin SV and Bitcoin ABC drama. With CoinGeek backing, Bitcoin SV launched an alpha version of Bitcoin SV as well as the full node implementation of BCH. Though BSV is struggling against Bitcoin ABC-which has 1444 nodes connecting via its software, the community is working towards striking a compromise between these two opposing camps.

Technical Analysis

Bitcoin Cash (BCH) Technical Analysis
Bitcoin Cash Daily Chart by Trading View

A 19 percent gain in the last week and it’s a straight buy for Bitcoin Cash. It’s easy to see why. Not only do we have a confirmation of Aug 17 bullish engulfing candlestick after Sep 1 high volume and trade range trust above $600 but prices are actually trading above our buy trigger and immediate resistance line. In this case and as per our last recommendation, traders can begin ramping up longs in lower time frames with first targets at $750, $850 and ultimately June highs at $1,300.

Author: Dalmas N


Crypto Price Analysis (BTC, DASH, XLM, XRP, EOS): August 31, 2019

Hard fork talks, OP_code activation and block size increment dominate in the Bitcoin Cash realm. If that will affect price we are yet to know but before November, the community will have a clearer picture of what to expect. Overly, the market is down and if yesterday’s momentum pick up then we might have a technical pattern—a trend resumption phase, picking up in most coins under our radar. Unlike others though, DASH is a stand out and it’s all due to that Aug 27 bullish engulfing pattern.

Let’s have a look at these charts:

Bitcoin Cash Price Analysis

News Highlights
  • Bitcoin ABC and Bitcoin SV proposals continues. Risk of a hard fork elevated
  • Traders can now buy or sell Bitcoin Cash (BCH) and other three coins via TradeIt on Yahoo Finance. After piloting the program in the US, Yahoo is now rolling the program worldwide but the only caveat is that this is possible at exchanges as RobinHood and CoinBase, which support TradeIt API.

Technical Analysis

Bitcoin Cash (BCH) Technical Analysis
Bitcoin Cash Daily Chart by Trading View

On a weekly basis, Bitcoin Cash is up three percent but because of yesterday’s six percent loss, it’s likely that BCH will slow down as the week conclude.

Overly, remain positive and expectant of further gains as spelled out in previous BCH trade plans but should there be a dip below $500, our intra-range support line and Aug 17 lows, then we shall re-align our trade plan.

In this circumstance, the depreciation from around $600 would be a pointer of weak bulls and a confirmation of a re-test  phase and the resumption of bears within a bear break out pattern triggered by Aug 8 bear candlestick.

Before then, we recommend exiting longs while keeping in mind that moves above $600 effectively cancels this bear break out pattern.

XRP Price Analysis

News Highlights
  • Australian traders can now trade XRP/AUD pair at Coinspot.
  • Now available at Swaplab is XRP and three other cryptocurrencies. By adding these coins, the total number of tokens supported at this crypto-to-crypto exchange is up at 50. There plans of supporting fiat-crypto transaction when they incorporate MasterCard and Visa will increase Swaplab and listed coins exposure meaning there will be added liquidity in XRP.

Technical Analysis

XRP Technical Analysis
XRP Daily Chart by Trading View

From previous XRP trade plans, our positions remain clear. Then our longs depended mostly on momentum and how buyers would push and close above Aug 17 highs at 38 cents and 40 cents on the upside.

Well, judging from the charts, our trade plan didn’t come to pass and instead a confirmation of Aug 29 bears means prices are down and within Aug 17 lows.

Besides, it means prices are back in a consolidation and before we settle on a trade decisions, candlestick alignments are heavily stacked against bulls.

Once prices dip below 30 cents, we shall recommend shorts with stops above the break out candlestick with targets at 15 cents as bears resume their bear moves as set out by Aug 6-8 break out bars.

EOS Price Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

Even after market moving break out and follow through cementing Aug 17 bullish moves, EOS movements is finding a ceiling.

At around $7, the lower level of our resistance zone, bull momentum is waning out and what we have now is a three percent drop in the last 24 rejecting further upsides. In any case, we shall retain our prior trade plans but in case sellers dip and breach $5.5 cents, traders should exit their longs.

On the other hand, conservatives can begin loading shorts and syncing with the over-all eight month bear trend by selling on pull backs once prices edge below $4.5, our minor support line and Aug 17 lows.

Stellar Lumens (XLM) Price Analysis

News Highlights
  • The Stellar Network set a new milestone after hitting 1 million accounts fueled mainly by the surge of new account registration since July 2018. During that two month window, 350,000 new accounts were activated according to recent statistics.

Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Stellar Lumens Daily Chart by Trading View

Contrary to expectations, this new milestone has not been well received. As a matter of fact, sellers are reversing the last two days gains and are down four percent in the last day.

At this rate, chances are the monthly support trend line flooring sell pressure would be broken opening doors for 18 cents—2018 lows, to be retested.

Regardless, we shall maintain a bullish outlook expecting prices to edge above 25 cents triggering bulls in line with our last trade plan.

On the reverse side, any dip below 18 cents and 8 cents would be the next realistic target for sellers breaking off a psychological level.

DASH Price Analysis

News Highlights
  • Fuzex—DASH pay has signed a MoU which will see the launching of DASH supporting crypto cards. The service will launch in Q4 2018 and it is their expectations that it will drive the rate of coin adoption where the card will come in handy at point of sales.

Technical Analysis

DASH Technical Analysis
DASH Daily Chart by Trading View

Though most coins are failing to cope with sellers, DASH stands out. After Aug 27 high volume jut and clear rejection of lower lows at $170, our suggestion was to buy on dips in lower time frames.

While it still holds, we shall hold on to that projection unless of course there are strong sell waves reversing recent gains pushing back DASH below $130.

For now, it’s better to hold a neutral stand but any move above $200 would trigger a wave of buying with targets at $300 as spelled out in our last DASH trade plan.

Author: Dalmas N


Crypto Price Analysis (ETH, ETC, ADA, TRX, XMR): August 31, 2019

All in all, the altcoins market is stable. Elon Musk’s comments on Ethereum might provide the much needed impetus while the inclusion of Monero in The Digital Asset Fund Index Fund created by Morgan Creek Capital Management exposes XMR to institutional investment. On the other hand, Tron – whose virtual machine will officially be launched today is already positioning itself for gains should it be received well by the developer community.

Let’s have a look at these charts:

Ethereum (ETH) Technical Analysis

News Highlight

At this point in time, it might be the side effects of Ambien combined with extreme exhaustion following his 120 hour-a-week routine work. Or, it could also be a real need of Ethereum that made him declare to the whole world that he needed ETH even if it was a scam. Well, we can’t really figure it out and some are speculating that it might be a high level sarcasm against Twitter who are having a rough time purging fake account and ETH scam artists making a killing from their illegalities. Nonetheless, that tweet alone triggered a market wide discussion and optimism for the crypto market which is in the road to recovery. Endorsement from market leaders as Musk definitely steels the market fast-tracking loss reversals in coins as ETH which is down 80 percent from 2017 peaks.

Technical Analysis

Ethereum (ETH) Technical Analysis
Ethereum Daily Chart by Trading View

As laid out in our last ETH technical analysis, the coin is technically in a down trend especially when we take a top down approach.

However, when we consider recent movements, ETH is likely on a recovery and yesterday, the market was up three percent building on Aug 27 rejection of $250, our minor support line.

From our trade plan, risk off traders can begin taking long positions at spot prices while conservatives can load once we see conclusive movements above $330 or Aug 17 highs.

Ethereum Classic (ETC) Technical Analysis

News Highlights
  • The 2018 Ethereum Classic Summit scheduled for Sep 12-13 of this year will be streamed live on YouTube from Seoul according to a notice from Zenix Exchange who are one of the partners in this year’s summit.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Ethereum Classic Daily Chart by Trading View

In real sense, ETC prices are all over the place but seems to be gravitating higher if the past two weeks price movements is anything to go by. Our initial recommendation was to sell on pull backs retesting $12, our previous resistance line and main sell trigger but since prices are now trading above $12 that plan no longer holds.

Instead, with a two percent gain in the last day building on Aug 28 breach and close above $12, our longs are active for aggressive traders looking to capitalize on the general altcoins recovery. So, in line with that, we suggest taking longs at current prices with stops at Aug 28 lows with first targets at $18 and later $25.

Cardano (ADA) Technical Analysis

Cardano (ADA) Technical Analysis
Cardano Daily Chart by Trading View

As laid out in our last Cardano (ADA) trade plan, aggressive traders can sync with the trend by taking longs at current prices with stops right at 8 cents and first targets at 12 cents.

This first target doubles up as our immediate resistance line in an overly bearish market where Cardano’s prices are trading inside a bear break out pattern ignited by Aug 8 high volume and trade range break below $12.

On a conservative approach, bull traders can wait for a conclusive breach and close above 12 cents before ramping up longs with first targets at 20 cents and later 40 cents with stops at the break out bar lows.

Tron (TRX) Technical Analysis

News Highlights
  • TRX is now available at Holland’s ICOCryptex.io
  • Apple reviews and accept TronWallet. This means iOS mobile users can download and install the wallet safely from Apple Store. Once up and running, they can transact, check balances or even vote for their favorite super representatives straight from their mobile devices.
  • Tron Foundation has removed another batch of more than 670 million TRX ERC-20 compliant tokens from circulation.

Technical Analysis

Tron (TRX) Technical Analysis
Tron Daily Chart by Trading View

Even with a five percent gain in the last day, TRX is still struggling to break into the top 10. Nevertheless, this week’s series of higher highs complements late last week’s rejection of lower lows.

As a result, TRX prices are now trading above the bullish defining candlestick of  Aug 17 meaning traders can load at current prices and aim for 3 cents and later 4 cents—which doubles up as July 2018 highs.

Monero (XMR) Technical Analysis

News Highlights
  • Taiwan’s ktrade.io lists Monero
  • Monero has been included in a new, privately issued index fund specifically meant for institutional investors and managed by Bitwise Asset Management, The Digital Asset Index Fund. The crypto index fund is a creation of Morgan Creek Capital Management.

Technical Analysis

Monero (XMR) Technical Analysis
Monero Daily Chart by Trading View

Like most coins, Monero is rising with the tide gaining 11 percent week over week. Though we expect a follow through previous bullish attempts of Aug 27 and a potential push above $110, our mid-range resistance line which capped yesterday’s gains, any retracement as long as it’s above $70 and not accompanied by high volumes should be considered as another buying opportunity. Ideal targets stand at $150 and later $300.

Author: Dalmas N


Crypto Price Analysis (ADA, ETC, DASH, mIOTA, NEO): August 29, 2019

It has been a long time coming and following periods of consolidation, altcoins prices are in the recovery seat posting greens. All altcoins under review continue to post impressive gains with DASH, IOTA, NEO and Cardano (ADA) to some extent reversing from main support lines. Because of this, today is another day for exiting shorts and loading longs in line with the new found momentum.

Let’s have a look at these charts:

Cardano (ADA) Technical Analysis

News Highlights

Currently, the Cardano Foundation has a partnership with Runtime Verification where the latter is overseeing the R&D of Cardano’s new Protocol designed to make use of formal semantics and running on a new Virtual Machine. In line with this path, Cardano and IOHK has two testnets for their VM smart contract: IELE VM which is completely registry based and KEVM which is a construct version specified by Runtime Verification’s K-Framework.

Technical Analysis

Cardano (ADA) Technical Analysis
Cardano Daily Chart by Trading View

Perched at eighth in the top 10 liquidity list, ADA is edging higher and building on Aug 27 bullish engulfing pattern that rejected lower lows towards 7 cents-the coin’s ATLs.

Though our ideal and conservative official ADA long triggers will only be finalized once we see prices edging and closing above 12 cents, our main resistance line and former support, we suggest risk off traders to take longs at current spot prices with stops at recent lows at 8 cents with first targets at 12 cents and later 20 cents assuming bulls keep up with this momentum.

NEO Technical Analysis

News highlights

AlphaCat, a cryptocurrency trading robot-advisor released mobile optimized ACAT store user guide for their users.

Technical Analysis

NEO Technical Analysis
NEO Daily Chart by Trading View

In the daily chart, Aug 17 and 27 bull candlesticks are high volumes and have wide trading ranges, a sure indicator of a bottoming if not a recovering market.

Our previous NEO trade plans mostly anchored on the reaction of prices at $22 or Aug 17 highs and the main resistance trend line sliding according to the direction of trend. After yesterday, not only did prices edge higher and break above $22 and that resistance trend line, but buyers did confirm Aug 17 and 27 bulls meaning our buys are now active.

Because of this, trading with the new found momentum with stops at $16 and first targets at $25 and $45 is reasonable.

DASH Technical Analysis

News Highlights

To further increase DASH global adoption, DASH now has a partnership with KRIPTO Mobile Corporation [KRIP] effectively increasing the coin’s user base in South America. While making the announcement at Caracas, Venezuela KRIPTO said they shall work towards creation of cheap smartphones pre-loaded with DASH supporting apps for banked/under-banked Latin America customers. Each of these phones will have a DASH paper wallet.

Technical Analysis

DASH Technical Analysis
DASH Daily Chart by Trading View

What we have in the daily chart is a nice bullish engulfing candlestick printing off the main support and bear target line at $160.

This trend reversing candlestick not only confirms bullish attempts of Aug 15-17 but signals short exits for bears.

As such, and cognizant to chart events, we recommend longs with stops at $160 and targets at $275, the upper limit of our trade range.

Ethereum Classic (ETC) Technical Analysis

News Highlights

PeaceBridge is the latest proposal for bridging Ethereum and Ethereum Classic chains and reducing high gas costs via trust-less custodians. These custodians are tasked with transactions verification.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Ethereum Classic Daily Chart by Trading View

Fundamentally, ETC is a solid buy and this view is supported from the way candlesticks are arranged.

As visible from the charts, ETC bulls are building up momentum following their rejection of lower lows after periods of consolidation in the last nine days or so. Even if it’s a technical buy, still prices are consolidating inside Aug 15-17 high lows.

So, since there is a wide spread market resuscitation of price which might actually lift off ETC, risk off traders can begin loading longs at current prices now that we have these series of higher highs likely to break above $12. In that case, stops would be at $11

IOTA (IOT) Technical Analysis

IOTA (IOT) Technical Analysis
IOTA Daily Chart by Trading View

After Aug 27 high volume, high trading range candlesticks, our IOTA buys were activated. Considering the ways candlesticks are lined up, we suggest taking longs at current prices with stops at yesterday’s lows and first targets at 90 cents, our immediate and main resistance level.

Author: Dalmas N


Crypto Price Analysis (BTC, TRX, EOS, XLM, LTC): August 28, 2019

Last week’s stand out was the mark of green by Bitcoin which added five percent against expectations. In the meantime, all coins under review were registering week over week losses but we expect a comeback in the altcoins market as this temporary arbitrage—thanks to the overwhelming positive correlation—is corrected. On focus this week is Tron and should the community receive their TVM, we expect prices to spike to new levels.

Bitcoin (BTC) Technical Analysis

News Highlights

Whether Bitcoin is a store of value or not is always an open subject and a never ending debate. Fact is, the way BCH and BTC are evolving towards is the very sore point of Bitcoin and Bitcoin Cash purists who hold sharp and diverging opinion on what Satoshi long term gain of Bitcoin. Alexis Ohanian, is the recent crypto influencer to wade into the debate saying over the long run, Bitcoin shall gain more traction as the store of value and that despite its price fluctuation, the Reddit co-founder and investor has “deep” interest in cryptocurrencies. The serial investor believes Bitcoin is especially important for economies with unstable currencies and such scenarios, the intrinsic use of Bitcoin more as a store of value than medium of exchange will give the pioneer crypto “real” traction.

Technical Analysis

Bitcoin (BTC)Technical Analysis
Bitcoin Daily Chart by Trading View

After an impressive five percent gain at close of last week, BTC bulls did follow through yesterday.

While we didn’t have these humongous headline grabbing candlesticks, the fact that prices did stabilize around the lower limit of our support zone at $6,800 and $7,000 reveals a lot about bulls.

In any case, our stand is bullish and as far as optimists are concerned, any break above $7,000 and $7,200 would inevitable usher in a wave of buy pressure in line with our previous Bitcoin technical analysis.

EOS Technical Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

Should buyers keep up and add to yesterday’s 13 percent, our EOS longs would be activated according to our last EOS trade plan.

As laid out then, our immediate long triggers were at $5.5 cents on the upper hand and $4.5 on the lower end—that’s in case sellers neutralize this recent price revival.

Now, considering price action, all we need is a thrust above that resistance line and that is likely to happen today especially if we bring into the picture recent higher highs and rejection of Aug 17 lows, a candlestick which has been defining price action in the last week or so.

Tron (TRX) Technical Analysis

News Highlights
  • Well, many didn’t expect Porn Hub to be faithful. They now accept PumaPay after the initial TRX buzz subsided.
  • Account holders at Kucoin can now buy and sell TRX against ETH or BTC beginning today.
  • After launching TronWallet, developers are now adding an address book and multiple accounts capabilities where a user can split operations into multiple accounts on the wallet as demanded by the community. Besides, the wallet is available in five languages complete with over 100 bug fixes.

Technical Analysis

Tron (TRX)Technical Analysis
Tron Daily Chart by Trading View

Even after adding eight percent yesterday, TRX is yet to break into the top 10.

Encouragingly though, there are hints that the TRX market shall recover and edge higher not only from a top down perspective but more so from the way recent bull candlesticks have lined up.

Notice that after yesterday, TRX bulls have confirmed Aug 17 bullish engulfing pattern and as it stands, we recommend taking longs with stops at 1.9 cents with first targets at 3 cents and later 4 cents.

Stellar Lumens Technical Analysis

News Highlights

Fintech LTD is a DEX built on the financial centric Stellar Network and with a stable coin, WSD, Stellar Lumens (XLM) owners can now convert their coins to fiat—USD, Euro and GBP, without the need of a third party.

Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Stellar Lumens Daily Chart by Trading View

On a neutral perspective, Stellar Lumens prices have been all over the place shortly after that Facebook rumor.

Though it was a necessary shot in the arm in the face of resilient sellers, XLM seems to be steadying and rejecting lower lows going by price action.

Even if Stellar Lumens is consolidating horizontally and our trade plans are yet to be activated, odds are the rapidly changing altcoins sentiment will help raise XLM above 26 cents triggering buys aiming for 40 cents and later 50 cents.

If not and say there is a dip below that monthly support trend line, then we might see a breach below 18 cents with bears digging for 8 cents.

Litecoin (LTC) Technical Analysis

News Highlight

The community is rightly concerned about the lack of inactivity by Litecoin at GitHub. As reported by GitHub charts, other high liquid coins as Bitcoin and EOS are active and posting commits on a regular basis unlike Litecoin whose last update came in April shortly after their partnership with CoinBase.

Technical Analysis

Litecoin (LTC) Technical Analysis
Litecoin Daily Chart by Trading View

Technically, Litecoin prices are moving inside a bear break out pattern after periods of extended consolidation between June and July.

So, even if our trade conditions are met and prices surge above $65 retesting $70, we still need a high volume close above $70—our immediate resistance line to cancel out this bear projection which is solidly backed by the eight month sell streak.

Because of this and the change in sentiment, our instinctive recommendation is to initiate longs at spot with a safety net at $50 should our projection fail. First targets is $70, $90 and later $110.

Author: Dalmas N


Crypto Price Analysis (ADA, ETC, DASH, NEO, mIOTA): August 27, 2019

Aug 17 bullish candlestick is limiting upsides and downside in most coins under our preview. As we have pointed out, NEO, Cardano (ADA), DASH and IOTA prices are all moving inside this bar and while breakouts looks imminent in IOTA and NEO, failure of further gains shall damp bulls’ upbeat expectations and consequently drain momentum.

Let’s have a look at these charts:

Cardano (ADA) Technical Analysis

Cardano (ADA) Technical Analysis
Click here to see the full Cardano Daily Chart by Trading View

In two weeks, Cardano (ADA) prices continue to consolidate and move horizontally within a 3 cents trade range with lows at 8 cents and highs at 11 cents. Overly, we remain bearish on ADA and advised from the candlestick arrangement and more so that Aug 8 break below 12 cents, our main support and sell trigger line, it’s going to take a lot of convincing before we embark on buying.

It’s simple to see why it’s a tall order for buyers to get back in trade and cement their position even if sentiment has been warming up to bulls: the last eight months was bearish. Additionally, despite encouraging gains on Aug 17 gains, the follow through have been dismissive for buyers to say the least.

For now, we shall take a bearish stance until after there is a surge above 12 cents—our last support now resistance. If not and prices dip below 7 cents—Cardano (ADA) ATLs then we shall short on every pull back with stops at 10 cents.

Ethereum Classic (ETC) Technical Analysis

News Highlights

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Click here to see the full Ethereum Classic Daily Chart by Trading View

On a day to day basis, ETC continues to oscillate between stable and bearish. In the last 24 hours for example, ETC is down one percent and on a weekly basis, the rejuvenated coins is down eight percent according to statistics.

Traders can easily see that in the daily chart and while we remain bearish now that prices are below $14, the lower limit of a previous consolidation range and sell trigger, any follow through of yesterday’s bull hints would effectively nullify this projection.

Still, that won’t mean longs for risk averse traders because as per our previous Ethereum Classic (ETC) trade plans, we need strong gains above $18 for that position to hold true.

However—and if there are sustained gains, risk off traders can begin loading longs on lower time frames with stops at $12 and first targets at $18 and later $25.

DASH Technical Analysis

News highlights

It might require one to use 5 DASH to propose amendments in the network but with the overwhelming voice from the community dissenting DASH Core Group CEO Ryan Taylor calling for his ouster speaks tones about DASH governance at work.

Technical Analysis

DASH Technical Analysis
Click here to see the full DASH Daily Chart by Trading View

Unless otherwise, DASH is trading within a bear break out pattern ignited by Aug 13 bear candlestick breaching the $160 main support floor.

As it stands, last week’s nine percent loss isn’t doing much to steel buyers expectant of recover and as laid out in our previous DASH trade plan, traders need to see high volume, wide trading range bar reversing recent losses printing above $180 before we suggest buys.

That would inevitably cancel our sell projection and perhaps oil the next wave of buys aiming for the upper limit of our previous DASH trade range at $280.

IOTA (IOT) Technical Analysis

News Highlights

The IOTA Foundation on Aug 25 released the beta version Trinity Wallet desktop version.

Technical Analysis

IOTA (IOT) Technical Analysis
Click here to see the full IOTA Daily Chart by Trading View

Taking into the account recent price swings, IOTA is undoubtedly one of the most volatile coins in the top 10. Though hovering between stable to bullish going by yesterday’s and last week’s gains, prices are still confined within Aug 17 high low and we might as well take a neutral stand.

Short term bulls will be back on track once 65 cents resistance line is cleared and in that case entering trades at spot prices with first targets at 90 cents will be a nice trade plan.

If not and there is a break out below 45 cents triggering short term sells, then odds are IOTA will be on its way back to 30 cents.

NEO Technical Analysis

News Highlights

There is a new NEO compiler, NEO Storm, allowing dApp developers to write code in Golang based smart contracts which are then compiled on NEO VM ready for launch in the NEO blockchain.

Technical Analysis

NEO Technical Analysis
Click here to see the full NEO Daily Chart by Trading View

As most coins under our review today, NEO is struggling against bears and most importantly rejecting lower lows.

For validation of our long projections then we need to see gains above $22 and in that case a breach above the main resistance trend line or Aug 17 price confining candlestick.

Immediate targets would be at $30 and later $45.

Author: Dalmas N


Crypto Price Analysis (ADA, ETC, mIOTA, DASH, NEO): August 21, 2019

On a weekly basis, most coins under our radar are in the green territory with some as IOTA registering 25 percent gains. Contrary to expectations, technical charts print a different story. In reality, IOTA prices—like most aside from DASH which is actually a sell, continue to oscillate horizontally inside Aug  17 high low.

Let’s have a look at these charts:

Cardano (ADA) Technical Analysis

News Highlights

  • Marlowe is the latest innovation by Cardano’s IOHK. As a domain specific language with user cases mainly in financial contracting, this special language is founded in Haskell—Cardano’s coding language. For ease of use, Marlowe can also be embedded in other languages for easy smart contracting purposes but developers insist that for efficiency users should know how smart contracts work once in the blockchain. It’s along this vein that Meadow, a web tool written in Haskell and partly compiled by Haste compiler, was developed and its main function is for “construction, revision and simulation of smart contracts” written in Marlowe.

  • Speculation is Ledger will offer support of ADA via a firmware implementation by the end of the year as part of Shelley release in Q4 2018.

Technical Analysis

Cardano (ADA) Technical Analysis
Click here to see the full Cardano Daily Chart by Trading View

Week over week, Cardano (ADA) is up six percent with most gains recorded towards the last half of last week.

However, while that morale boosting gains are all over the news, we are yet to see movement on the chart and in real sense, our bearish break out pattern and official sells triggered by Aug 8 candlestick is valid.

In any case, yesterday’s bears-successfully reversing Aug 17 gains-continue to damp positive sentiment and unless otherwise, we suggest selling  should today end up bearish breaking off the four day consolidation after close of that three bar bullish engulfing candlestick of Aug 15-17.

Ethereum Classic (ETC) Technical Analysis

News Highlights
  • Though traders from select US states and verified international accounts are free to trade the ETC/USD markets, the fact that Bittrex will allow direct purchase of ETC straight from the account holder’s bank account in a secure and convenient manner is overly positive for ETC’s liquidity.

  • Interested ETC miners can join Ethereum Classic Mining Pools here.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Click here to see the full Ethereum Classic (ETC) Daily Chart by Trading View

Perched at thirteenth in the liquidity table, ETC is up 17percent in the last week and though that might be a massive gain, prices are actually trading below the main support line at $12.

As per our last trading plan, ETC is technically bearish now that bulls couldn’t muster enough momentum and capitalize on last week’s classic morning star pattern complete with a conspicuous pin bar.

Considering the general sentiment in the market, buyers would be back in track only if they edge past $15—Aug 17 highs and later $18—the upper limit of this consolidation and official buy trigger as laid out in last ETC trade plans. If not, then we recommend shorts especially if today end up bearish closing below $12.

DASH Technical Analysis

News Highlights
  • Often, different digital assets tend to receive media’s attention when registering gains especially in bull markets as we saw last year. While many expect market turnarounds, DASH is laying the framework for further adoption with most analysts touting DASH to be the first cryptocurrency to be used as money around the world. In Venezuela, use of DASH is widespread with people using it to transact, paying for common utilities and even food rather than holding them for speculation.

Technical Analysis

DASH Technical Analysis
Click here to see the full DASH Daily Chart by Trading View

In two short months, DASH prices are now trading below two key support lines at $270 and $160 as the daily chart shows.

While we remain bearish, last week’s events and failure to breach and close above $160 goes on to show how bear momentum is strong.

It’s solely because of this that I recommend trading with the trend and taking sells at spot price with stops at Aug 18 highs at $170 and first targets at $100. This DASH trade plan will only be nullified if we see high volume thrust above our immediate resistance line—at $170.

NEO Technical Analysis

News Highlights
  • Wallet maintenance at Kucoin is complete

  • Binance resumes withdrawal of NEO and GAS
  • Qihoo 360 Core Securities confirmed that it is actually possible to crash the whole network by DDoS attacking the seven NEO master nodes. For their effort, the team was awarded 10,000 NEO coins with the NEO team releasing a fix within an hour of the report.

Technical Analysis

NEO Technical Analysis
Click here to see the full NEO Daily Chart by Trading View

The resistance trend line in the chart is negative sloping meaning the trend is bearish and counter intuitive to fade the market by opening long positions.

That was the case by the end of last week when a Morning Star bull reversal pattern printed signaling the potential of higher highs in the market.

Though that didn’t materialize, chances bears will resume their trend going forward. In that case, sells will be valid once we see prices closing below $15-the bottoms of this seven day consolidation.

On the flip side, buyers would be back in contention should we see bulls pushing above that resistance trend line as they aim to test $25.

IOTA (IOT) Technical Analysis

News Highlights

Technical Analysis

IOTA (IOT) Technical Analysis
Click here to see the full IOTA Daily Chart by Trading View

In the daily chart, IOTA prices are still moving inside Aug 17 high low.

While the trend is bearish, there is optimism across the market and the only way that hopium will be real is when prices edge past Aug 17 highs at 60 cents.

Before then, we recommend pausing trades and waiting for proper trend definition though it’s likely that the markets will be stuck in an extended consolidation following the last three weeks depreciation of prices when prices dropped below 90 cents registering new 2018 lows.

Author: Dalmas N


Crypto Price Analysis (XRP, ETH, XMR, BCH, EOS): August 20, 2019

On average, most coins including the dominant Bitcoin and Ethereum (ETH) are swinging between bullish and bearish gaining three percent as they end the week on a high. Regardless, traders need a lot of convincing before loading up longs and perhaps that might happen this week more so if there is a follow through of last week’s rejection of lower lows. In any case, our trade plan anchors mostly on how buyers react at immediate resistance and previous sell trigger lines.

Let’s have a look at these charts:

Ethereum (ETH) Technical Analysis

Ethereum (ETH) Technical Analysis
Click here to see the full Ethereum Daily Chart by Trading View

Contrary to our expectation-after that three-bar bull reversal pattern, gains are capped and trading below $320, Aug 17 highs. Though there are chances of upsides, fading a clear bear trend especially when we consider a top down approach is counter intuitive.

Nevertheless, our suggestion for low size long position specifically for risk-off traders is advised from Aug 13 high volume pin bar rejecting lower lows.

As visible from the chart, buyers are building up their gains from that candlestick and though gains are limited, buying at spot prices with stops at $270 and first targets at $370 meshes well with the current positive sentiment and bottoms expectations.

Bitcoin Cash (BCH) Technical Analysis

Bitcoin Cash (BCH) Technical Analysis
Click here to see the full Bitcoin Cash Daily Chart by Trading View

Week over week, BCH is still down three percent but still yesterday ended up bullish with Roger Ver’s coin adding two percent ending on a high in the process.

Even though this is position and hints of slowing bear momentum and a possible bottoming market, bulls need to breach and close above $600, our immediate resistance line and former sell trigger line.

In any case, our previous Bitcoin Cash trade position is still valid as long as prices are trading below $600. With this, it means our sell recommendation on any retests and rejection of highs above $600– more so if a high volume bearish engulfing pattern prints around our resistance line damping buy momentum–is valid.

On the reverse side, any convincing close above $600 means a confirmation of end of last week’s morning star pattern and the beginning of a potential reversal that might drive prices towards $850, the upper limit of our last consolidation.

XRP Technical Analysis

News Highlights

The topic of regulation is always a contentious subject in the crypto realm. It is even sticky in the ICO world and as an innovative fund-raising model, regulators are always finding ways of weeding out scammers taking advantage of investors who more often than not compelled by the hype around the project and fail to do their own research. It’s along these lines that Warren Davidson said Ripple is one of the 32 crypto leaders invited for a discussion at the Capitol Hill on the best ways to regulate this fund-raising model. The meeting is scheduled for Sep 25, 2018.

Technical Analysis

XRP Technical Analysis
Click here to see the full XRP Daily Chart by Trading View

Though XRP keep swinging from positivity to bearish, our short-term longs were activated after Aug 17 bull candlestick. While many expected a follow though confirming that bullish engulfing candlestick, it appears as if upside momentum is waning as buyers are yet to clear that trend reversing candlestick at 40 cents.

As spelled out in our last XRP trade plan, risk off traders can initiate long trades at spot rates with stops at 30 cents and first targets anywhere between 45 cents and 55 cents in the upper side.

Any high volume thrust above 55 cents nullify our short projections and provides the next impetus for the next wave of buyers aiming at 70 cents.

EOS Technical Analysis

EOS Technical Analysis
Click here to see the full EOS Daily Chart by Trading View

A four percent gain in the last 24 hours and prices are pretty much stuck within Aug 17 high low. In any case, this could hint of bears who are overwhelmingly in charge especially when we take a top down approach.

From the daily chart, EOS buyers need to cement their long positions by thrusting and closing above $7, our immediate resistance level. In the meantime, aggressive traders can begin loading up small position longs at current spot prices with stops at Aug 17 lows at $4 with first targets at $7.

Before then and as per our previous reiteration, conservatives shall take a neutral approach with a heavy bearish leaning.

Monero (XMR) Technical Analysis

Monero (XMR) Technical Analysis
Click here to see the full Monero Daily Chart by Trading View

Based on candlestick formations in the daily chart, potential supports might be found anywhere between that $120—right around previous support trend line–and the upper limit of the current channel at $150.

As such, the best approach to trade this pair considering the current realignment of candlestick formation is to pause trading and take a wait and see approach as to whether bulls will drive prices above Aug 18 bear pin bar highs or if sellers might resume their drive and clip end of last week’s gain by closing below $85.

Should the latter be the case, then we shall initiate sells in every high once bears close below our previous bear target and main support line at $70. Ideal bear targets would be at $40.

Author: Dalmas N


Crypto Price Analysis (ETH, ADA, ETC, XMR, TRX): August 17, 2019

Even though there are hints of higher highs across all coins under our radar, there shouldn’t be excitement and even hopes of reversal of this bear trend yet. As far as price action is concerned, Ethereum, Cardano, Tron and Monero are trading inside Aug 13 strong bear candlestick and as long as prices are confined inside this bar, sellers are in charge. For reversals, then our trade plan is clear. Cardano (ADA) or Tron (TRX) buyers must build up enough momentum to blast past immediate resistance at 12 cents and 2.2 cents to 2.5 cents respectively.

Let’s have a look at these charts:

Cardano (ADA) Technical Analysis

News Highlights

Unlike most smart contracting platforms as Ethereum for example, Cardano is peer reviewed and research driven that’s why they take their time to unveil new products or make updates. Slow and sure they are but the results are above par just like Yoroi and Icarus. In their latest video announcement, Emurgo led by Ken Kodama who is also the founder of Cardano said this new wallet is light, reliable, user intuitive and above all secure since it has been audited. Its TestNet will be launched this month with the mainnet scheduled for next month.

Technical Analysis

Cardano (ADA) Technical Analysis
Click here to see the full Cardano Daily Chart by Trading View

Still perched at eighth in the liquidity list, ADA is down three percent in the last day and reversing Aug 14 foundation for higher highs. From our last ADA technical analysis, we were net short following that dip and close below 12 cents.

As marked out then, 12 cents was our main support line and sell trigger with any close below that confirming a bear break out pattern with targets at 7 cents, the coin’s ATLs.

At current prices, our trade plan is on course and we suggest shorting on every low in lower time frames, sync with the trend and eye at 7 cents.

Ethereum Classic (ETC) Technical Analysis

News Highlights

Beginning Aug 16, retail traders can now buy, sell and even store Ethereum Classic (ETC) coins at CoinBase. That simple news alone means there is enough liquidity at CoinBase boosting ETC prices by over 25 percent in the process.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Click here to see the full Ethereum Classic Daily Chart by Trading View

From a technical point of view, ETC prices are all over the place and still caged inside a $6 trade range. Yes, we can see that nice three bar bull reversal pattern but then yesterday’s high volume thrust confirms reversals and yanks prices back into a trade range.

In this case, there are two ways we can apply to trade this coin. Risk off traders can begin ramping longs with stops at $12 and first targets at $18. On the other hand conservatives can take a somber approach, wait for close above $18 before executing longs in line with our last Ethereum Classic (ETC) trade plan. Ideally, both approaches leverage on positive sentiment around CoinBase launch with targets at $25.

Tron (TRX) Technical Analysis

Tron (TRX) Technical Analysis
Click here to see the full Tron Daily Chart by Trading View

Countering on chain platform developments and partnerships, Tron (TRX) prices continue to sink both in value and market cap. Fact is, there has been a minor flip with Monero more valuable that IOTA and TRX at current spot prices.

Technically, we expect more losses now that TRX bulls are yet to reverse Aug 13 high low and immediate stops at 2.2 cents. Our trade plan is straight forward: bears are in charge across the market and like most coins, TRX broke below 2.5 cents on Aug 8 triggering sellers targeting Jan 24 lows.

In the run up to these levels, we recommend shorting on very pull back with reasonable stops anywhere between 2.2 cents and main resistance line—the break out level—at 2.5 cents.

Monero (XMR) Technical Analysis

Monero (XMR) Technical Analysis
Click here to see the full Monero Daily Chart by Trading View

This privacy centric coin is one of the top performers this week. Though our first target at $70 was narrowly missed, today will shape our shorts because any bullish confirmation automatically leads to short exits.

On the other hand, any lower low below $80 or Aug 15 low will re-assert our trade position. Either way, trading against the trend and buying is not what we recommend. The only time that will happen is once we see bulls pushing above $110 or Aug 8 highs accompanied by high volumes building up from Aug 15 and 16 bull candlesticks.

Ethereum (ETH) Technical Analysis

News Highlights

News is Liechtenstein Cryptoassets Exchange [LCX] have partnered with Binance and with the new collaboration, a new crypto-fiat exchange will be launched in Liechtenstein to be named Binance LCX. Binance experience in crypto will come in handy for running and maintaining the platform while LCX will implement compliance and coin regulatory approval. Customers shall trade ETH/CHF or Euro and BTC/CHF or Euro.

Technical Analysis

Ethereum (ETH) Technical Analysis
Click here to see the full Ethereum Daily Chart by Trading View

Like most coins under our radar, we maintain a bearish stand on this coin for simple reasons. Yes, there are pockets of buys but other than that bear pin bar of Aug 14 the follow through candlesticks have long upper wicks signaling sell pressure.

Going by this preview, we recommend shorting on every high as long as prices are trading below $330 or Aug 13 highs. Should prices edge past $330 then we shall wait for a retest of $350, our previous support now resistance line, and any rejection of higher highs will usher be a perfect entry for sellers to trade with the trend.

Author: Dalmas N


Crypto Price Analysis (XLM, BTC, EOS, LTC, TRX): August 15, 2019

Surprisingly, Bitcoin (BTC) and Stellar Lumens (XLM) are two coins that are resilient absorbing sell pressure. Even though they are down, their losses are lower when compared to some as EOS and IOTA that are deep in the negative territory. Regardless, sellers are still in the forefront and we might see further losses especially in the altcoins market should we see a Bitcoin price dip below $5,800.

Let’s have a look at these charts:

Bitcoin (BTC) Technical Analysis

News Highlights

Following the steps of crypto friendly Gibraltar, Jamaica Stock Exchange (JSE) will soon allow investors to easily trade Bitcoin and other digital assets with assistance of Canada’s Blockstation. With a MoU already in place, investors will safely and securely trade cryptos within a regulator’s approved space and in the process becoming one of the first stock exchanges to allow crypto trading.

Technical Analysis

Bitcoin (BTC) Technical Analysis
Click here to see the full Bitcoin Daily Chart by Trading View

There is a tad bit of stability within the market and as long as BTC prices are held above $5,800—our main support and sell trigger line, there is hope for buyers.

In previous Bitcoin (BTC) price analysis, we insisted that buyers would be back in contention should there be a high volume up thrust above $6,800.

On the reverse side, any dip and close below $5,800 and the rest of the coin market—especially those without supporting fundamentals—would likely be dragged lower.

So, before any of our trade conditions are met, staying neutral with a bearish skew is but a safe trade strategy.

Stellar Lumens (XLM) Technical Analysis

News Highlights

Fundamentally, Stellar Lumens has been reaping it big since that big Facebook rumor. Then, grapevine had it that Facebook was actually planning on launching their own cryptocurrency on the Stellar network and while Facebook officials met with Stellar team members, the social media giant has since poured cold water on these hot rumors though it helped stabilize price for a while. Nevertheless, Facebook interest in blockchain and cryptocurrency cannot be brushed aside because they have a former board member of CoinBase–David Marcus, leading their own blockchain team.

Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Click here to see the full Stellar Lumens Daily Chart by Trading View

Thanks to the overall slide in altcoins prices and especially EOS, Stellar Lumens is now the fifth most valuable coin in the sphere with a market cap of $3.96 billion at the time of press.

That however didn’t stop sellers from clipping a little bit of XLM valuation since the coin is now trading below 22 cents our previous buy trigger line. As it is, we urge patience until after there is a thrust above 26 cents—Aug 4 high volume bear highs or 18 cents, 2018 lows.

Though odds are we might see a follow through as XLM prices sync with the general trend, still conservatives should hold off until our trade plans are met.

On the flip side though, aggressive can short at spot price with stops at Aug 13 highs at 24 cents with immediate targets at 18 cents and later 15 cents.

EOS Technical Analysis

EOS Technical Analysis
Click here to see the full EOS Daily Chart by Trading View

There has been a flip all courtesy of EOS sliding 35 percent in the last week alone and further shedding seven percent in the last 24 hours helping push price towards $4.

As elaborated in our last EOS trade plan, $4 is our main support line and 2018 lows and from a risk reward ratio it doesn’t make any trading sense to short at current prices. As we can see, prices are less than 50 cents away from the main support line and sell target and because of this, we suggest staying neutral with a bearish inclination though those who are net short should move their stops to break even or even lock in some profits.

Now, should there be a high volume break below 2018 lows at $4, then selling on pull backs with stops at $4 and first targets at $2 would be our trade strategy going forward.

Tron (TRX) Technical Analysis

News Highlights

Justin Sun’s recent acquisition and Tron’s subsidiary, BitTorrent is now one of the platform’s Super Representative.

Technical Analysis

Tron (TRX) Technical Analysis
Click here to see the full Tron Daily Chart by Trading View

Despite these rampant sellers, it appears likely that we might see support today and this is all because of yesterday’s candlestick. As we can see, we had that long lower wick with a small upper wick indicating that Tron was rejecting lower lows.

If that pressure spills over to today then we might see TRX slashing their losses and slowing down the drop towards Jan 24 lows, our ultimate bear targets.

On the flip side though, the only candlestick formation that can cancel this projection is if TRX buyers muster enough momentum print above Aug 13 highs at 2.2 cents and eventually retest 2.5 cent s at the back of abnormally high trading volumes.

That would show support and increasing market participation but still we need prices to close above 2.5 cents before cancellation of our short sell.

Litecoin (LTC) Technical Analysis

News Highlights

Charlie Lee continues to pitch Bitcoin and in a tweet he said Litecoin atomic swap feature will effectively make Litecoin Bitcoin’s side-chain secured by the latter’s proof of work mining and hash rate.

Technical Analysis

Litecoin (LTC) Technical Analysis
Click here to see the full Litecoin Daily Chart by Trading View

A 24 percent week over week loss compounded by a seven percent decline in the last 24 hours is fast driving Litecoin’s prices towards Q4 2017 lows and first bear targets. But, while bears are been in the forefront in the last two weeks or so, we don’t recommend sells as our risk reward ration locks us out.

It won’t make sense to say the least now that we have that nice rejection of lower lows after yesterday’s bear pin bar close.

For trend continuation, sellers should build enough momentum and breach that $50 floor and when that happens, traders can resume their sync with the trend selling at spot with stops at yesterdays high at $50-$55 with first targets at $33 or Q3 2017 lows.

If not and there is support, any close above Aug 10 highs at $65 cancels this Litecoin sell projection.

Author: Dalmas N


Crypto Price Analysis (NEO, DASH, mIOTA, ETC, ADA): August 14, 2019

As traders sync with this bearish market, NEO, DASH, IOTA and Cardano have new 2018 lows with ADA especially seeking to print lower than its all-time lows at 7 cents. In the meantime, IOTA, DASH, NEO are registering double digit losses as ETC test $12 reversing June 2018 gains in the process. Either way, the altcoins picture is gloom but then it’s an opportunity for keen traders to load at a discount and hodl.

Let’s have a look at these charts:

IOTA (IOT) Technical Analysis

From the News

No doubt, Olaf van Wijk is an influencer in the world of IoT and as a member of the IOTA advisory board, his work-the IOTA Pay-proves his mantle. Olaf wants to change the donation user case of IOTA-remember, IOTA Foundation has a partnership with UNOPS. Therefore, finance and donation is just but another application that IOTA Pay solves. It’s something within the network and it is the public nature of transactions and addresses within the Tangle that drove Olaf to come up with a solution that boosts addresses security. IOTA Pay does that and though it’s a work in progress, it remains open source and transacting is free.

Technical Analysis

IOTA (IOT) Technical Analysis
Click here to see the full IOTA Daily Chart by Trading View

Needless to say, IOTA is still struggling with bears and after dropping more than 45 percent in the last week alone, the bear break out and close below 90 cents by week ending Aug 5 was a standout. Even though at current prices IOTA is a tad bit stable, it continues to shed value and in the last day it is down two percent as it oscillates within Aug 11 high low.

In any case, we expect a confirming follow through this week but before that happens, a recovery retesting immediate resistance at 65 cents is ideal. From the way candlesticks are set, selling at spot price with first targets at 30 cents or Q4 2017 lows and stops at yesterday’s highs make perfect sense.

Ethereum Classic (ETC) Technical Analysis

News Highlights

Bittrex, the 23rd largest cryptocurrency exchange in the world, will avail ETC/USD markets to their clients. Though Ethereum Classic continues to draw attention in recent times following that market boosting announcement by CoinBase that it had plans of listing the coin, only verified international customers and select trading accounts from California and other US states would trade.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Click here to see the full Ethereum Classic Daily Chart by Trading View

Like the rest of the market, ETC is struggling to stay afloat. Now, as projected in our previous ETC technical analysis, our shorts are live following that nice double bar bear reversal pattern right off resistance at $18 on Aug 6 and 7.

On top of that conspicuous reversal pattern and long upper wick of Aug 7, there was a spike in trading volumes meaning sellers were back in contention. Since our first targets at $12 are likely to be hit today, I recommend holding off trades or for those who are short moving their stops to break even until after we see a high volume break below $12, our main support line and 2018 lows.

Once that happens, we recommend shorting with stops at $12 and first targets at $12. On the flip side, should ETC find support and prices reverse strongly from June 2018 lows, then we suggest exiting shorts.

Cardano (ADA) Technical Analysis

Cardano (ADA) Technical Analysis
Click here to see the full Cardano Daily Chart by Trading View

From the chart, Cardano (ADA) is down 18 percent week over week and with a five percent dip in the last day, ADA prices are trading well below our main support line and sell trigger line at 12 cents.

Now, as far as price action is concerned, our previous Cardano (ADA) trade plan is live thanks to Aug 8 high volumes break below 2018 lows at 12 cents.

So, dictated by that ADA price analysis, we shall zoom in to lower trading charts and short on every high as we aim for the first bear target at 7 cents which is ADA’s ATLs. With every sell, ideal stops should be fixed at Aug 13 highs while those who sold right after bears melted through 12 cents should move their stops to break even.

NEO Technical Analysis

News Highlights

Aphelion, a project running on the NEO blockchain, has officially launched a mobile web wallet. Aphelion is a DEX and the mobile wallet is available for both iOS and Android users. With it, users can easily send and receive NEP-5 tokens, GAS and NEO, check their NEO portfolio and transaction history.

Technical Analysis

NEO Technical Analysis
Click here to see the full NEO Daily Chart by Trading View

Obviously—and like the rest of the market—NEO sellers are pressing the gas pedal aiming for $12 and maybe NEO’s ATLs at $4. It might be a pessimistic view but then the confirmation of the third phase of our bear break out pattern set rolling by June 12 bear candlestick dictates our preview.

Since prices are now trading below $25, the path of least resistance is southwards and edging closer towards our next supports at $12 as laid out in our previous NEO technical analysis.

To avoid trading against the market, I suggest selling at current spot prices with stops at $23 with first targets at $12. Those who bought earlier can move their stops to break even or lock in some profits.

DASH Technical Analysis

News Highlights
  • You can donate to the DASH Treasury at dashdonates.org
  • Bitmain owns 312,000 DASH coins. This indirectly means Bitmain controls 312 DASH master nodes.

Technical Analysis

DASH Technical Analysis
Click here to see the full DASH Daily Chart by Trading View

By dropping 28 percent in the last seven days and 10 percent in the last day, our first bear target at $150 has been hit. However, that means we should exit our shorts instead, traders can still open more short positions after yesterday’s close below $150 which is also 2018 lows. Next targets would be $120 and later $70, key support line in 2017.

Author: Dalmas N


Crypto Price Analysis (EOS, ETH, XRP, XMR, BCH): August 13, 2019

It’s an obvious altcoins price slide and with XRP and EOS leading the loss, it seems like the floor will come after some weeks. For now, it’s likely that last week’s events would be confirmed and in that case we recommend shorting on every high in lower time frames.

EOS Technical Analysis

EOS Technical Analysis
Click here to see the full EOS Daily Chart by Trading View

If anything, our EOS trade plan is well on course and with every bear candlestick that prints, bears are slowly inching towards our first target at $4. As highlighted in previous EOS trade plan, $4 doubles up as our immediate support line and 2018 lows and that’s why it is important in our analysis.

Since the third stage of the bear break out pattern set in motion by Aug 7 break below our intermittent support at $7 is active, we recommend selling on highs in today and in days to come.

All things constant, we might see a pull back towards $7 as a form of compensation—this often happen following periods of rapid gains or losses—and instead sellers could find perfect liquidation points at or around $7—our immediate resistance line with stops at $8 and targets at $4 as laid out in our the last EOS trade strategy.

Ethereum (ETH) Technical Analysis

Ethereum (ETH) Technical Analysis
Click here to see the full Ethereum Daily Chart by Trading View

By dropping 20 percent on a weekly basis, ETH is now trading at multi-level lows printing new 2018 lows in the process. From that chart we can see that not only did bears broke below June 2018 lows at $400 but bears did press lower breaching $350 and ETH prices is now $50 away from testing Q4 2017 lows. Either way, we are net bearish especially after last week’s events. In line with our Ethereum (ETH) trade plan, we recommend selling on every high in lower time frames with stops at $350 and first targets at $275.

XRP Technical Analysis

News highlights

The XRP community wants Binance to make XRP base following that direct endorsement by Weiss Ratings. After the independent ratings agency carried out their own online survey on Twitter, Weiss came to a conclusion that XRP is cheap and fast when moving funds from one exchange to another.

Technical Analysis

XRP Technical Analysis
Click here to see the full XRP Daily Chart by Trading View

Impeded by SEC failure to categorize the coin and as Ripple the company struggles with law suits, XRP prices is taking a beating. It’s one of the leading coins which registered high losses following their 30 percent drop by close of last week.

Either way, this is what was expected when sellers drove prices below the lower limit of our support at 40 cents two weeks ago. Now, as spelled out in our prior XRP trade plans, we suggest selling XRP at current spot price with stops at 35 cents and take profits at 15 cents.

In the meantime, those who sold after 40 cents should lock in some profits and retain the same bear targets.

Monero (XMR) Technical Analysis

Monero (XMR) Technical Analysis
Click here to see the full Monero Daily Chart by Trading View

Though we might point out the last two days candlestick and remain optimistic of a recovery, you should note that the high low of those two candlesticks are actually confined by Aug 10 bear engulfing bar.

That undoubtedly means sellers are in charge even from an effort versus result perspective. Anyhow, Aug 10 bear engulfing candlestick broke below the psychological $100 support line and at current spot prices we suggest selling on every high with first targets at $70 and stops at $100.

Bitcoin Cash Technical Analysis

News highlights

As the ASIC manufacturer Bitmain prepares for an IPO, news is it held more than one million BCHs by March 31 and just 22,000 BTCs at the same period.

Technical Analysis

Bitcoin (BTC) Technical Analysis
Click here to see the full Bitcoin Cash Daily Chart by Trading View

There are two approaches here, those who sold BCH at around $700 when sellers confirmed Aug 2 break below the main support trend line can now lock in some profits.

For those planning to enter, I suggest selling at current spot prices with stops at $600. The reason for this is pretty simple. First, notice that we have a whole bear candlestick closing below our main support line and following through on Aug 8 break out.

Secondly, not only are current prices new 2018 lows but we have a clear multi-level close below  important support line at $600 and earlier at $750 when bears closed below the monthly and yearly support trend line.

Author: Dalmas N


Crypto Price Analysis (BCH, EOS, DASH, XRP, XLM): August 10, 2019

Price wise, the week has not been kind to altcoins. XRP, EOS and Bitcoin Cash registered new 2018 lows after dropping below key support lines while Stellar Lumens sellers did sink below 22 cents nullifying our previous bullish positions. From a top down approach, we expect this slide to continue though we might first see a ranging market retesting previous break out levels.

Let’s have a look at these markets:

Bitcoin Cash (BCH) Technical Analysis

News Highlights

After periods of stress testing, Bitcoin Cash trading volumes are back to normal processing 15,000 transactions per day. Besides the drop in volume, it’s also profitable to mine or trade Bitcoin now that their drive to flip Bitcoin and dominate is unlikely. The only way you to draw mainstream adoption is if the team behind BCH position it as a medium of exchange and a cheaper alternative to Bitcoin.

Technical Analysis

Bitcoin Cash (BCH) Technical Analysis
Click here to see the full Bitcoin Cash Daily Chart by Trading View

After a 21 percent drop on a week over week basis which was further exacerbated by than five percent drop yesterday, BCH is now trading at new 2018 lows.

It’s also below the $600 main support line and as highlighted in our previous Bitcoin Cash (BCH) technical analysis, our recommendation is pretty much straight forward.

First, our bear break out set rolling by June 22 bears is live and secondly, in the last couple of days, we have seen a multi-level break below key support line both in the daily and weekly chart.

This hints of strong bear momentum and as such, selling and syncing with the main trend is advisable. First bear targets remains at $300.

DASH Technical Analysis

News Highlights

Undoubtedly, blockchain technologies is here to stay and could be a basis of the next generation tech revolution. The only problem is scalability and best ways of solving that more so on the DASH network. It’s along this vein that DASH pay and Arizona State University did collaborate before. Recently they published their results findings on how to best address scalability concerns in a research titled “Block Propagation Applied to Nakamoto Networks

Technical Analysis

DASH Technical Analysis
Click here to see the full DASH Daily Chart by Trading View

While DASH has real user case in Zimbabwe and Venezuela, two countries working towards economic stability after periods of hyperinflation, prices didn’t withstand the strong bears.

At the moment, DASH is down 17 percent week over week but still perched at fourteenth place in the liquidity table.

However, from our last DASH technical plan, we were net bearish shorting the coin with stops at $240 and first targets at $160.

It seems like our targets would be hit today but I suggest locking in some profits considering the strong wave of sellers and moving targets to $100.

EOS Technical Analysis

EOS Technical Analysis
Click here to see the full EOS Daily Chart by Trading View

As expected, yesterday’s EOS price movements were pretty tight hovering around Aug 8 lows. That often happen following periods of heighten volatility and wide trade ranges we saw on Aug 7 and 8 when sellers did break below $7, our intermittent support line.

With that depreciation, our sells were triggered and going forward, we recommend selling on every highs retesting $7. First targets will be at $4 with stops at $7 as highlighted in prior EOS technical analysis.

The only way this trade plan would be cancelled is if there is a spike above $7 hitting our stops and yanking back EOS back to a range.

Stellar Lumens Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Click here to see the full Stellar Lumens Daily Chart by Trading View

Prior to Aug 8 double digit loss, we were net bullish on Stellar Lumens expecting prices to find support at 22 cents, previous buy trigger then support. However, prices obliterated that support effectively canceling our XLM trade plan and inviting sell pressure.

As it stands, we shall retain a neutral approach expecting sellers to drive prices towards 18 cents and 20 cents. There, if there is a break below, then we shall recommend syncing with the overall bear trend and with first targets at 15 cents and later 8 cents.

On the flip side, buyers could find support if and only if buyers muster enough momentum and edge past 22 cents and claw back Aug 4 losses closing above 26 cents.

Accompanying this revival should be high volumes indicating re-emergence of buyers. If not, then we sell on pull backs with targets mentioned above.

XRP Technical Analysis

News Highlights
  • Ripple the company is literally chocking with lawsuits. There are three class action lawsuits in progress and though the proceedings are relatively quiet, Rosen Law Firm is investigating whether the company violated securities rules when they sold Ripple’s XRP tokens. If found culpable, then they might end up paying a heavy penalty besides concluding that XRP is indeed a security that is overseen by the SEC.
  • The Seattle Based cryptocurrency exchange, Bittrex is planning on adding XRP/USD support by Aug 20 according to their recent announcement. Through what they called a Phased approach, the crypto exchange will offer more support in a gradual manner for quality purposes.

Technical Analysis

XRP Technical Analysis
Click here to see the full XRP Daily Chart by Trading View

By closing below 40 cents as projected in our earlier trading plan, XRP dominated headlines. The reason was simple, XRP registered new 2018 lows, lost more than 20 percent on a weekly basis and dropped more than 90 percent from 2017 ATHs.

This confluence and unfavorable fundamentals could further worsen prices. So, in order to avoid trading against prevailing sentiment and sync with our last XRP trade plan, I suggest selling on every high in lower time frames with stops at Aug 8 highs at 38 cents with targets at 15 cents.

Nonetheless, it is likely that we might see a consolidation through the weekend with prices oscillating between Aug 7-8 trade range.

Author: Dalmas N


Crypto Price Analysis (ADA, ETH, ETC, TRX, XMR): August 9, 2019

Other than USDT which gained as traders shifted their holdings back to fiat, all coins registered double digit losses. Traders might have over-reacted to SEC decision to delay their ruling on SolidX Bitcoin ETF.

On the other hand, sellers found a window to liquidate and they did now that prices were retesting key support lines as we saw from previous Altcoin trade plans. Monero (XMR) and Tron (TRX) were some of the biggest losses and while prices are a tad bit stable, it’s likely that this trend will continue in the coming days though at a slower pace.

Ethereum (ETH) Technical Analysis

News Highlights

As a smart contract platform, Ethereum is always under demand and according to EtherScan, the network processes approximately 750,000 transactions per day thanks to the many ICOs that runs on top of it. Of course, there are expectations that ICOs as a fund raising model will continue to gain footing and that means the network must be ready to scale and tame transaction fees and gas costs. Sharding was a horizontal scaling solution proposed by the team but now fears are it will create centralization in the network and won’t solve the syncing problem.

Technical Analysis

Ethereum (ETH) Technical Analysis
Click here to see the full Ethereum Daily Chart by Trading View

By dropping 14 percent in the last week, not only is Ethereum (ETH) trading below the main support line at $400 but our sell targets at $350-or 2018 lows has been hit.

From the chart, it’s obvious that sellers are in charge and we expect that to happen today. As such, we recommend selling on pull backs with stops at $400 or Aug 4 highs.

Then again, because yesterday did confirm the bear break out pattern-following Aug 4 high volume break below $350- as highlighted in our previous Ethereum (ETH) trade plans, our first targets will be at Q4 lows at $300.

Tron (TRX) Technical Analysis

Tron (TRX) Technical Analysis
Click here to see the full Tron Daily Chart by Trading View

Even as more groups contend for the super representative slot, Tron (TRX) is not finding any support. As a matter of fact, the slide is on and with a 14 percent clip of TRX price, our first target-initiated after Aug 3 break below 3.2 cents-at 2.5 cents has been hit.

Now, because of our trade position and the high rate of price erosion, we recommend locking in some profit and shifting targets to 2 cents or lower.

In the meantime, conservative traders can now short with stops at Aug 8 highs at 2.6 cents with similar targets.

Cardano (ADA) Technical Analysis

News Highlights

Emurgo, an arm of Cardano, will announce a new Prometheus based product on Aug 15, 2018 according to Charles Hoskinson most recent video update. Prometheus in itself is a parallel source code written in Rust programming language and developed by the Cardano development team.

It is a modular and third party developers can use it whenever they want to build their wallets or dApps. Its functionality has already been tested on mobile devices. The reason Prometheus is there is to allow more flexibility and choice for their users. The Cardano team believes that by having Prometheus, light clients and mobile users would have a solid foundation and best leverage Cardano’s unique properties.

Technical Analysis

Cardano (ADA) Technical Analysis
Click here to see the full Cardano Daily Chart by Trading View

Just like the rest of the altcoins market, ADA is bleeding losing 12 percent in the last day alone. It could even get worse for Cardano (ADA) and all this is thanks to the weekly chart where a strong bearish candlestick printed last week rejecting mid-July higher highs.

Because of that, it was no surprise that there was a confirmation which saw a whole daily candlestick printing below the 12 cents main support line.

Therefore, in line with our last Cardano (ADA) technical analysis, I suggest selling ADA on every high with mid sell targets at ADA’s ATLs at 7 cents.

For those who are net short and executed sells when prices reversed gains below 20 cents, our previous buy trigger line in late July 2018 rally, they can lock in some profits and ride with bears.

Ethereum Classic (ETH) Technical Analysis

News Highlights

Official words from CoinBase Pro indicates that Ethereum Classic (ETC) will officially launch on their platform via CoinBase. However, CoinBase support would be availed once there is “sufficient” liquidity but inbound transfers at CoinBase Pro are accepted. The good thing about these transfers is that traders would trade assets immediately as there is no more waiting. On top of that, the daily transaction limit for verified US customers has been raised to $25,000.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Click here to see the full Ethereum Classic Daily Chart by Trading View

Liquidity concerns locking out retail traders might partly be a reason why ETC is reversing gains. By yesterday, ETC prices were down three percent and in the process printing that nice double bar bear reversal pattern hitting our stops at Aug 6 lows.

Though our Ethereum Classic (ETC) trade plan suggests staying neutral now that prices are back in the $6 range with limits at $18, we might see ETC towing in with sellers and dropping towards our lower limit at $12.

After all, there was a marked spike in participation volumes on Aug 6 rejecting higher highs and helping sellers reverse last week’s gains.

As such, sellers can begin unloading ETC at current spot rates with stops right at Aug 8 highs at $17.5 with targets at $12.

Monero (XMR) Technical Analysis

Monero (XMR) Technical Analysis
Click here to see the full Monero Daily Chart by Trading View

Aside from Monero syncing with the general bear market, XMR prices are now trading below our main support trend line and moving closer towards our main target at $70.

All in all, our previous Monero (XMR) trade plan is solid and moving as planned.

Because of the general market sentiment, my suggestion is to short Monero (XMR) at current spot rates and aim for our main target at $70 with stops at $120.

Author: Dalmas N


Crypto Price Analysis (BTC, LTC, EOS, XLM, TRX): August 8, 2019

It's A Double Digit Loss For Bitcoin and Altcoins

A simple six percent drop in Bitcoin (BTC) prices and it’s a capitulation for altcoins thanks to their sometimes beneficial direct correlation. EOS, Stellar Lumens, Litecoin and Tron are not only trading below key support lines as mentioned in previous altcoins technical analysis, but have confirmed a bear break out pattern and the resurgence of the third phase—the trend resumption phase of that trade strategy. As such, we expect Litecoin (LTC) for example to hit $50 or lower, Tron (TRX) to test 2018 lows at 2 cents and EOS to trade below $4 in the coming weeks.

Bitcoin (BTC) Technical Analysis

News Highlights
  • There were 3000 Lightning Network full nodes and more than 11,200 active bi-directional channels that helped move $700,000 worth of Bitcoins in a July report on the state of the off chain, scalability solution. At the same time, it was note that the network is more decentralized with Shitcoin.com control being trimmed from 51 percent to less than one percent in the same period.
  • In the midst of uncertainty and bruising regulations, the central bank of Spain Banco de Espana (BDE) has a more open position on Bitcoin (BTC). In their recent report the bank said cryptocurrencies-especially when there is a state version-improves the country’s monetary policy and its financial infrastructure. Besides, using blockchain technology, the central bank can better track their money supply more effectively.
  • Bob Goodlatte, who is also the chairman of the House Judiciary Committee owns about $80,000 worth of Bitcoin with a major portion staked in Bitcoin and Ethereum.

Technical Analysis

Bitcoin (BTC) Technical Analysis
Click here to see the full Bitcoin Daily Chart by Trading View

At a 10 percent week over week drop, it’s likely that last week’s Bitcoin bears will spill over and drive prices lower.

While there was initial excitement yesterday following that $300 gain propelling Bitcoin prices back to $7,100, the reversal has been swift and at this pace, we might see a break below $6,800, our lower limit of our buy zone.

It is solely because of this and the fact that the weekly chart is overly bearish reversing from key resistance trend line that I recommend selling Bitcoin (BTC) at current spot prices with stops at Aug 7 highs at $7,100 with first targets at $6,000—2018 lows.

On the reverse side, the only time we can think of buying is when there is conclusive reversal of these rampant sellers helping propel prices back above $7,300. Only then should we recommend buying on dips and syncing with mid-July bullish sentiment with first targets at $8,500.

EOS Technical Analysis

News Highlight
  • A few days ago, the EOSIO network printed a record 3708 TPS. Should we expect an explosion in TPS today when the network get stress tested?
  • To spur creation of useful dApps on the EOSIO network, EOS VC did unveil a $1 million seed funding program for future EOS Hackathons. The initiative called “Hack. Pitch. Launch” has already saw five teams benefit from the $50,000 seed funding during the Sydney Hackaton.

Technical Analysis

EOS Technical Analysis
Click here to see the full EOS Daily Chart by Trading View

For more than 40 days now, EOS has been trending and from previous EOS technical analysis, we had emphasized the importance of conclusive close below $7.

As we mentioned, any close below the main support line and the lower limit of our $2 trade range automatically confirms June 22 bears.

Well, that happened yesterday and as such, we now suggest selling EOS on every pull back retesting $7 with first bear targets at $4 now that the third phase—the bear trend resumption stage is on course. Safe stops should be at Aug 7 highs at $7.2.

Litecoin (LTC) Technical Analysis

News Highlights

Thanks to a partnership between Ninja Trader and CoinBase, account holders can now view real time market data for Litecoin and three other coins available at CoinBase. Besides viewing, account holders at Ninja Trader would easily access charting and market analysis capabilities thanks to that stream of live crypto data from CoinBase

Technical Analysis

Litecoin (LTC) Technical Analysis
Click here to see the full Litecoin Daily Chart by Trading View

Bitcoin and Litecoin have this sometimes beneficial direct market correlation and with Bitcoin dropping, odds of Litecoin following suit—especially at a time when we didn’t expect market moving news—were high.

Yes, it did and on Aug 7, Litecoin slid five percent and with high market volumes, it’s likely that prices will close below the lower limit of our trade range at $70.

From previous Litecoin (LTC) technical analysis, such would entail selling on pull backs with first targets at $50 because of the confirmation of that bear break out pattern of June 10 and the resumption of bears as the trade strategy dictates.

Tron (TRX) Technical Analysis

News Highlights

Technical Analysis

Tron (TRX) Technical Analysis
Click here to see the full Tron Daily Chart by Trading View

As prices head to the dredges, TRX don’t want to be left behind. As a matter of fact, this kind of depreciation is normal after mainnet launches—we can see the consequent depreciation in EOS and many other coins.

Now, from the chart, TRX is down four percent and most importantly, our first targets are likely to be hit today. Since we are already short as per our Tron (TRX) trade plans, I recommend moving stops to break even and locking in some profits.

At the same time, moving targets to 2 cents would make sense.

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Click here to see the full Stellar Lumens Daily Chart by Trading View

With an 18 percent week over week drop, Stellar Lumens prices are capitulating. Now, after yesterday’s drop is a seven percent drop that has already driven XLM prices below 22 cents and in the process cancelling our previous Stellar Lumens (XLM) trade plan and bullish stand.

Because of this, we recommend pausing and waiting for proper close below June’s lows of 20 cents before we initiate shorts on pull backs with targets at 15 cents and later 8 cents in line with our past Stellar Lumens (XLM) technical analysis.

Author: Dalmas N


Crypto Price Analysis (mIOTA, ETC, ADA, NEO, DASH): August 7, 2019

IOTA is Down 20% and Trading Below 2018 Lows

Even at the back of positive news, most altcoins are still struggling against rapid sellers. Cardano (ADA) for example is still a couple of cents away from 12 cents, our main support line while Ethereum Classic (ETC) is trading above $18, our buy trigger but isn’t finding support for higher highs.

Let’s have a look at these charts:

Cardano (ADA) Technical Analysis

News highlights
  • Apparently, CoinBase is proving to be the only exchange that has so much sway on altcoins. After their initial announcement, we saw Cardano spike upwards of 10 percent and now, news is CoinBase custodial Services is now exploring storage of Cardano (ADA). The storage possibility comes at a time when the exchange has not officially announced support of ADA. CoinBase Custody is a strictly a storage service for institutional investors available in Europe, the US with plans of expansion to Japan.

Technical Analysis

Cardano (ADA) Technical Analysis
Click here to see the full size Cardano Daily Chart by Trading View

Week over week, Cardano (ADA)  is down 15 percent in the last week and encouragingly for buyers, there hasn’t be a break below 12 cents, our main support line and 2018 lows.

However, with the slide and obvious synchrony in the weekly chart, we might see a confirmation of those bears. In that case; I recommend trading with the trend and selling on every high with ideal sell zone anywhere between 12 cents and 14 cents.

That’s roughly 50 percent off last week’s bear engulfing candlestick. But, should sellers drop and close below 12 cents today, then we also suggest shorting with stops at 12 cents and first targets at 8 cents or ADA’s ATLs.

Ethereum Classic (ETC) Technical Analysis

News Highlights
  • Ethereum Classic is now available at RobinHood App
  • After flipping Monero, Ethereum Classic is now the twelfth largest coin by market cap in the world
  • You can now buy/sell Ethereum Classic (ETC) at BitOasis, the UAE based crypto exchange
  • CoinBase integration of ETC is almost ready. It could happen this week.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Click here to see the full size Ethereum Classic Daily Chart by Trading View

Perhaps in the midst of this deep bear trend, traders can find solace in Ethereum Classic (ETC). Not only is it up more than 10 percent in the last day but is now trading above $18, the upper limit of our trade range and buy trigger.

Now, in line with our Ethereum Classic (ETC) technical analysis and trade plan, all that we needed then was a close above $18 or $12.

Following events of Aug 2 and 3 and most notably, the spike in trading volumes on Aug 3, ETC traders found momentum to break and close above $18, our resistance line.

I suggest zooming in to lower time frames and buying on dips with stops at Aug 6 lows at $17 and first targets at $25.

DASH Technical Analysis

News Highlights
  • In a forward thinking, collaborative type partnership, two blockchain solutions DASH and Trive Chain are working on availing choices to users. By integrating and allowing their users to pay for dApps at Biz Store using DASH or Trive Coin, the two hopes to follow the path of We Chat which is raking in millions of dollars yearly through payments executed via Biz Store.
  • Cryptocurrencies in general is finding a footing in Australia and now, news is the government of Queensland is actually looking for ways of fitting in DASH and other cryptocurrencies into their official payment system.

Technical Analysis

DASH Technical Analysis
Click here to see the full size DASH Daily Chart by Trading View

Regardless of these positive fundamentals, DASH is actually bleeding. Well, it remains the fifteenth most valuable coin but is down 15 percent in the last week.

Considering our deduction following DASH bulls failure to close above $270 and confirming the third phase of our bearish break out pattern of June 10, we recommend selling DASH with safe stops at Aug 4 highs at $220. First targets would be at $160.

NEO Technical Analysis

News Highlights

NEO Global Capital (NGC) now has investment in Splyse after purchasing their MCT (Master Contract Tokens) tokens. As shown time and time again, NEO often support good projects on their ecosystem and this investment is one of their ways of believing in the long term viability and diversity of MCT tokens. Through a smart contract, NGC shall hold MCT tokens for one full year.

Technical Analysis

NEO Technical Analysis
Click here to see the full size NEO Daily Chart by Trading View

Regardless of this initiative of bullish nature of NGC on NEO projects, NEO prices are taking a beating.

For the first time this year, we might see NEO trading below the $25 mark and in the process endorsing that bearish break out pattern ignited by that June 12 bears.

It’s along the same vein and in line with our previous NEO technical analysis that we suggest selling on pull backs once a whole bear candlestick close below $25.

Once that happens, we suggest selling with stops at $25—or right about Aug 4 highs at $27 with first targets at $15.

IOTA (IOT) Technical Analysis

IOTA Technical Analysis
Click here to see the full size IOTA Daily Chart by Trading View

That’s it for IOTA. After losing 20 percent week over week and adding 12 percent more in the last day, IOTA prices are now trading below 2018 lows and 90 cents. Now, in line with our previous IOTA trade plan, we recommend selling IOTA with every highs in lower time frames with first targets at 65 cents and later 45 cents. Ideal stops should be above Aug 6 highs at 90 cents.

Author: Dalmas N


Crypto Price Analysis (EOS, XMR, XLM, BCH, ETH): August 6, 2019

Altcoin Sellers Wipes $42 billion in 10 Days

Straight from EOS, Bitcoin Cash, Monero and even Stellar Lumens—which was overwhelmingly bullish a couple of weeks ago, the erosion continues. As a matter of fact, some as Bitcoin Cash are now below key multi-month support lines and might experience accelerated losses this week.

Let’s have a look at these charts:

EOS Technical Analysis

News Highlights

Dan Larimer, the CTO and designer of the EOSIO network is proposing new ways of lowering what he calls the “capital cost of using the network and CPU resources”. As it stands, EOSIO is loading all the costs of launching and running a dApp on the owner and with a billing of a maximum CPU time of 400mS, it’s quite steep for those wishing to run on the network. However, Dan’s proposal of delegating or renting network bandwidth is even spelled out in the EOSIO white paper and so it isn’t something new. To complement this, the next stage will be to create an efficient rental market with deep liquidity and easy price matching.

Technical Analysis

EOS Technical Analysis
Click here to see the full EOS Daily Chart by Trading View

Now, as far as EOS price action is concerned, odds are we might see a breach of our main support and sell trigger at $7 today.

The reason for this leaning is simple: week over week for example, EOS is down 17 percent. Additionally, when we take a top down approach, last week ended bearish meaning chances of confirmation of our previous EOS technical analysis bear break out trade assertion is likely.

Then again, notice the proximity between current spot prices in the last few days and the main support line at $7. If things remain as they are, then we might see a close below $7. Afterwards, we can begin shorting EOS with first targets at $4.

Ethereum (ETH) Technical Analysis

News highlights
  • BitHumb has resumed deposits and withdrawals of Ethereum (ETH) and eight other coins. This comes after hackers made away with more than $25 million of user funds on the third week of June.

  • According to Vitalik Buterin, there is positive development moving Hybrid Casper into full Casper. Casper implementation will be part of the last Ethereum hard fork, Serenity, and once it has been fully implemented, PoS will be a mainstay consensus in the network. Then there will be two chains, the PoS main chain and the POW side chain for staking deposits linking to the main chain via a smart contract.

Technical Analysis

Ethereum (ETH) Technical Analysis
Click here to see the full Ethereum Daily Chart by Trading View

It’s pretty steep for Ethereum buyers right now. As we mentioned before, sellers did break below that mid-range wedge and with a retest of $400 and prices sinking 13 percent week over week, we might see execution of our official shorts this week.

Note that in the weekly chart, there is a clear bearish engulfing pattern breaking off the recent consolidation and confirming that bear break out of June 10.

Before we short, evidence should be there in the daily chart and the signal will be a high volume bear candlestick and a whole candle closing below $400. Afterwards, targets are constant as laid out in our past trade Ethereum (ETH) plans.

XRP Technical Analysis

News Highlights
  • Ripple are partnering with Raising Malawi in a humanitarian campaign raising funds for unfortunate children. The Facebook campaign is in progress concluding end of this month.
  • CoinBase is once again “exploring” and this time XRP is included and might be part of CoinBase Custodial Services. This service is specifically designed to meet financial institutions and hedge fund needs.

Technical Analysis

XRP Technical Analysis
Click here to see the full XRP Daily Chart by Trading View

If anything, XRP is still trending inside a 10 cent trading range with clear support at 40 cents. Overly, we remain upbeat expecting XRP much needed gains, the five percent drain of last week might further fuel sell pressures pushing sellers to close below 40 cents for the first time in 2018.

According to our XRP trade plans, if we see that happening this week, we shall consider it a break below our sell trigger and confirmation of June 22 bear break out pattern retest phase.

It shall also signal the beginning of the bear trend resumption phase. So, as we reiterate, our first targets would be at 15 cents with safe stops anywhere between 50 cents and 55 cents.

Monero (XMR) Technical Analysis

News Highlights
  • Hackers are now using a router, MicroTik to illegally mine Monero according to a report by Simon Kenin of Trust Wave. Trust Wave approximates that as many as 200,000 MicroTik users in Brazil might have been affected by the malware.
  • BitHumb has put on hold the listing of XMR. Citing wide price gap-exceeding 10 percent-between BitHumb market and standard market prices would cause unnecessary volatility once normal service resumes.

Technical Analysis

Monero (XMR) Technical Analysis
Click here to see the full Monero Daily Chart by Trading View

At current prices, XMR is trading well below the 40 day support trend line and is $10 away from our main support line.

From prior Monero price preview, $100 doubles up as a minor support line and sell trigger. Even though at current prices I suggest taking shorts with stops at $130, executing sells at $100 would be safer as our the trend resumption phase would have been confirmed.

After all, the weekly chart is bearish as it gets and it won’t be trading against the trend when we aim for $70.

Bitcoin Cash (BCH) Technical Analysis

News Highlights
  • BitPico Cashes out claims Bitcoin is a manipulated commodity
  • Roger Ver continues with his evangelism claiming Bitcoin Cash is the real Bitcoin as envisioned by Satoshi. Points to Bitcoin’s white paper.

Technical Analysis

Bitcoin Cash (BCH) Technical Analysis
Click here to see the full Bitcoin Cash Daily Chart by Trading View

Like most coins under review, not only is Bitcoin Cash trending lower but is below the 30 day support trend line cancelling our previous Bitcoin Cash (BCH) trade plan.

If anything, we expect sellers to push lower now that not only are prices below the 30 day support trend line but are also trading below the 12 month support trend line in the weekly chart.

Because of this, I recommend selling BCH at current spot price with stops at Aug 4 highs at $750 with first bear targets at $600.

Author: Dalmas N


Crypto Price Analysis (BCH, XRP, EOS, XLM, DASH): August 3, 2019

Most coins under our review are caving in to sell pressure and while EOS and Stellar Lumens are yet to break below key support lines, DASH and XRP might collapse today or the weekend. And when they do, we might see them dropping more than 90 percent for their ATHs and registering new 2018 lows in the process.

Bitcoin Cash (BCH) Technical Analysis

News Highlights

To mark their one year anniversary, Bitcoin Cash processed more than three times the average daily transaction of Bitcoin core. Data from Bitinfochart shows that the BCH network processed exactly 687k transaction on august 2 while BTC could only handle about 240k during the same period. However, could this spike in transaction processing a Bitcoin Cash network stress test of some sorts?

Technical Analysis

Bitcoin Cash Technical Analysis
Click here to see the full Bitcoin Cash Daily Chart by Trading View

Odds are, Bitcoin Cash price analysis would thrash our previous BCH trade plan. When we take a top-down approach, we realize that BCH prices are trending at a 12 month support trend line and being the first main support line, Aug 1 candlestick could offer support.

However, after sellers shaved four percent and pushing prices below our one month intra range support trend line, our solid proposal were cancelled.

Because of that whole candlestick closing below our minor support trend line, I recommend selling with stops at Aug 2 highs at $780 and first targets at $600, our main support line.

EOS Technical Analysis

EOS Technical Analysis
Click here to see the full EOS Daily Chart by Trading View

Our EOS trade position is pretty much solid: Neutral but bearish. To elaborate, we are bearish first because the whole market is bearish and it doesn’t make sense to trade against the market sentiment.

Secondly, because we can interpret the way charts are laid out and notice that EOS prices are trading within a bear break out pattern. Bears were officially released on June 22 following that strong depreciation printing a bearish engulfing pattern as a result.

Furthermore, buyers didn’t build enough momentum even after that resuscitation of bulls in mid-July. What we had instead was a retest of the upper limit of our consolidation at $9 before sellers resumed their erosion.

As highlighted in previous EOS trade plans, we need to see high volumes break below $7 before we settle on selling on every high with first targets at $4 with stops at the break out candlestick’s highs.

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Click here to see the full Stellar Lumens Daily Chart by Trading View

Even in the midst of a multi-month bear trend, the last two weeks bullish events could be a reliever for investors and traders.

However, for confirmations we need buyers to resume trend and convincingly close above 30 cents or that double tops marking June and July peaks.

If not and Stellar Lumens sellers compound yesterday’s four percent loss by driving prices closer to 22 cents, our initial buy trigger, then our Stellar Lumens (XLM) trade plan might be binned.

As mentioned in our previous XLM analysis, any close below 22 cents and more so 20 cents stands to usher in sellers keen on driving XLM prices to 8 cents or even lower.

Should you zoom out then you note that 8 cents is Q2 2017 highs and previous resistance now our second level of main support after 20 cents.

XRP Technical Analysis

News Highlights

  • Malta usurps South Korea to be the leading XRP trader in Q2 2018 according to Ripple’s Quarterly report. $73.53 million worth of XRP sold in the same period. Malta is one of the leading countries in the world that is friendly towards cryptocurrencies.

Technical Analysis

XRP Technical Analysis
Click here to see the full XRP Daily Chart by Trading View

That tight 5 cents gap between 40 cents and 45 cents could either make or break XRP valuation. For starters, XRP has been stuck in a horizontal consolidation for the last 60 days or so. While it did, XRP prices did swing between a 10 cents gap with buy and sell triggers set at 55 cents and 45 cents respectively.

Now, for assurance and as laid out in all our XRP trading plans and analysis, what we need to see is a high volume break below 40 cents before we begin selling on every highs in lower time frames. When that happens, price action would have confirmed June 22 bear candlestick and bear break out pattern whose second phase, the retest was completed in July after buyers failed to breach and close above 55 cents.

Furthermore, the longer it stays this way, the longer the consolidation and the stronger the break out. Before that break out happens, we shall remain neutral and later trade with the trend as always.

DASH Technical Analysis

DASH Technical Analysis
Click here to see the full DASH Daily Chart by Trading View

Earlier we mentioned the importance of $270, our immediate resistance line and how DASH prices needed to breach above it should they want to take control.

From the way it looks like, DASH buyers didn’t muster enough strength but instead caved in to sellers completing the second phase of a typical bear break out pattern—the retest.

As it did so, it ushered in the trend resumption phase where DASH sellers who didn’t short as advised in previous DASH technical analysis can unload this coin once there is a break below that M-formation and floor at $200.

Afterwards, DASH sellers can comfortably target $160 and later $120.

Author: Dalmas N


Crypto Price Analysis (ETH, ETC, TRX, XMR, ADA): August 2, 2019

Altcoin Price Devaluation Continues Despite Positive Announcements

It’s an across the board altcoins price capitulation and leading this march is Cardano (ADA) that is 20 percent down in the last week. While bears are yet to retest the coin’s main support, chances are we might see them blasting though 12 cents and even testing 7 cents-it’s ATLs in coming weeks. In the meantime, it’s no better for Ethereum Classic, Monero, Tron and even Ethereum as they print an average 10 percent loss week over week.

Let’s have a look at the charts:

Cardano (ADA) Technical Analysis

News Highlights
  • It’s yet another milestone for Cardano and after several platform improvement they are now launching the TestNet version of IELE, their virtual machine for testing any developed smart contract before releasing them into the mainnet.
  • Sp8e, a gaming dApp that is built on top of the Cardano blockchain has said they are done with the second stage of its MVP development. With the completion of the second stage, it means blockchain integration is simplified and there is verification of all generated randomness is possible.

Technical Analysis

Cardano (ADA) Technical Analysis
Click here to see the full Cardano Daily Chart by Trading View

Even after strong buy pressure in the last two weeks, ADA prices did stall before collapsing. In fact it has been an epic fall with ADA shedding 21 percent in a weekly basis effectively cancelling our previous Cardano (ADA) trade plan.

Remember, then we had place stops at 15 cents and at current spot rates, our stop has been hit. As things stand, we shall retain a neutral approach because our risk reward ration won’t allow for shorts. Prices are 2 cents away from the main support line.

The best and prudent way of trading ADA is to wait for reactions at 12 cents keeping in mind that any collapse below 2018 lows means sellers might drive prices towards 7 cents, ADA’s ATLs.

Ethereum (ETH) Technical Analysis

News Highlights
  • Samurai & J Partners Co. Ltd is the latest Japanese company that is regulated and listed at the TSE to offer loans backed with Bitcoin, Bitcoin Cash and Ethereum. In a special program dubbed, Samurai Crypto Loan, the TSE listed company will offer these crypto backed loans up-to $2.7 million per annum- through its subsidiary, Samurai Asset Finance. Interest rates would range from 7 percent to 15 percent per annum.
  • Recently, Joseph Lubin the co-founder of Ethereum and the Founder of Consensys said Ethereum is more than a cryptocurrency and that it can comfortably exist in India, an emerging economy that is embracing e-governance. As a decentralized network with smart contracts, Ethereum can be used in cloud computing, database management and delivery of government services. He says Consensys plans on opening a regional hub in India.

Technical Analysis

Ethereum (ETH) Technical Analysis
Click here to see the full Ethereum Daily Chart by Trading View

Undoubtedly, sellers are in charge and so far, ETH prices are down 13 percent week over week. While we were neutral expecting to see gains above $550, it clear that prices are breaking out a mid-range wedge and adding on to the losses.

Solely because of this, we shall wait for reactions at $400 and wait for confirmation of that June 10 bear candlestick. If that happens then we might be well inside the third phase of a bearish break out pattern with recent consolidation at $550 being retests of previous support now resistance and break out level.

In that case, ideal targets as indicated in previous ETH trade plans would be $350 and later $300.

Tron (TRX) Technical Analysis

News Highlights
  • Wallets are considered gateways for blockchains and with it users can transact hence boosting adoption. It’s in the same line of thought that the Tron Foundation have released the first version of TronWallet for their Android mobile users. Users can download it at Google Playstore for free.

Technical Analysis

Tron (TRX) Technical Analysis
Click here to see the full Tron Daily Chart by Trading View

Overly, the announcement of Tron wasn’t widely embraced by the community and we can see a sign of disappointment because Tron prices are not finding support. As a matter off act, after July 30, prices did print below 3.5 cents triggering our stops.

By doing so we are seeing a reversal of July 29 losses and attempts of higher highs above 4 cents.  At current prices, TRX sellers are retesting July lows and odds are our sell trigger in line with our previous Tron (TRX) trade plan would be hit.

When that happens, sellers should unload TRX with stops at 3.5 cents with first targets at 2.5 cents and 2.0 cents.

Monero (XMR) Technical Analysis

Monero (XMR) Technical Analysis
Click here to see the full Monero Daily Chart by Trading View

Like the rest of the markets, Monero (XMR) is on a slide losing 12 percent in the last week alone and over 20 percent in the last month. With those metrics alone, we can see that XMR is technically in a down trend.

Well, supporting this is June 10 break below $150-our immediate resistance and previous support which has been retested on a couple of occasions. Now, as highlighted in our previous Monero trading plan, buyers need to edge and close above $150 for XMR bulls trades to be valid.

However, that is a tall order because should we see a close a below $110 and that two month support trend line, then we shall be completely in sync with bears and moving inside the third phase of a bear break out pattern: the trend continuation phase.

Ideal bear targets would be at $70 with stops at July 31 highs at $140.

Ethereum Classic (ETC) Technical Analysis

News Highlights
  • The network is exploring about prospects of developing side-chains as they try to balance the advantages of a “private network” and the security of the mainnet.

Technical Analysis

Ethereum Classic (ETC) Technical Analysis
Click here to see the full Ethereum Classic Daily Chart by Trading View

Though ETC market cap is up the liquidity ladder and now perched at position 15, ETC sellers are on a rampage shaving 12 percent off ETC in the last week. That depreciation is clear and for the first time in more than 20 days, ETC prices are trading below $15.

What’s more, there was a spike in trading volumes during July 31 break below. Now, from past Ethereum Classic (ETC) technical analysis, our main support stood at $12.

While we suggest selling and trading with the trend, conservatives can take a pause for conclusive tests or break below $12. By selling at current spot prices, safe stops should be at August 1 highs at $16.

Author: Dalmas n


Crypto Price Analysis (BTC, EOS, XLM, LTC, TRX): August 1, 2019

EOS and Litecoin Range Bound But Down 5%

The top 20 altcoins has been painted red and the erosion continues. For one, despite stellar fundamentals in some coins, buyers need to muster enough momentum to reverse these losses and print above certain price levels before long traders jump in. If not, we are likely to see prices printing new lows.

Bitcoin (BTC) Technical Analysis

News Highlights
  • A $10.7 trillion Chicago based, Northern Trust has opened up to cryptocurrencies and is now helping hedge funds invest profitably in Bitcoin. Northern Trust is one of the largest Trust fund in the US and ranks 486 in the Fortune 500 list. Besides working steadily with three mainstream hedge funds and adding cryptocurrencies to their portfolios, they are now exploring ways of integrating blockchain technology to their PE division.

  • As Trump complains about China, the EU and other major economies devaluing their currencies and lowering interest rates (in order to get an edge over the US), the initial trade war is quickly turning into a currency war. For perspective, in the last two months alone, the Chinese Yuan has been on a slide losing 15 percent against the USD. Could this open up doors for Bitcoin as a store of value and a hedge against this “war”?
  • Too much is expected from the SEC when it comes to regulation. What many forget is that it’s not only the US that is racing against time in order to implement regulations that either stifle or support blockchain and cryptocurrencies. South Korea is the main player. Once they device and pass fitting regulations, we might see traders jumping in and driving market volumes towards December levels.

Technical Analysis

Bitcoin (BTC) Technical Analysis
Click here to see the full Bitcoin Daily Chart by Trading View

At around $7,500, Bitcoin (BTC) prices are down seven percent in the last day. That’s not all though. It also means our stops at $7,800 were hit and we exit this trade with about $1,000 in profits following yesterday’s price collapse.

In any case, our strategy remains the same and while sellers can continue unloading the coin, we expect BTC to find support anywhere between $6,800 and $7,000.

That’s former resistance now support and a bullish break out level which initiated the last two week’s surge. For sellers eager to unload at spot prices, fitting stops should be at today’s highs at $8,000.

EOS Technical Analysis

News Highlights

  • Poloniex, which was recently acquired by Circle, is now offering support for EOS. Judging from their prior statement, EOS met all the requirements mentioned in their Circle Asset Framework-Circle’s tool of evaluating various crypto assets before listing them on their exchange. Nevertheless, Poloniex won’t be a platform for converting EOS ERC-20 tokens to EOS mainnet coins neither will it be supporting EOSIO air drops.

  • Demux is the new tool that Block One is releasing to fast track development on their network. The tool draws inspiration from Redux and Facebook’s own Flux Architecture. Demux will simply act as a bridge between blockchain developments and traditional database management systems as Mongo DB.

Technical Analysis

EOS Technical Analysis
Click here to see the full EOS Daily Chart by Trading View

Like Bitcoin and literally all top 10 coins, EOS is bleeding. So far, it is down four percent but still oscillating within our $2 range with $7 acting as our main support and trigger.

In our previous EOS technical analysis, we said that for June 22 bears to be confirmed then EOS sellers should breach and close below $7-our sell trigger.

Thereafter, we shall begin unloading EOS but before that happens, we shall take a neutral stand as we wait for proper break outs.

Stellar Lumens (XLM) Technical Analysis

News Highlights

  • The Bahrain Central Bank has announced that Stellar, a platform where Lumens run from, is Sharia compliant. This means that citizens of that country can freely interact with the platform should they want to tokenize assets or safely move funds from one jurisdiction to another.

Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Click here to see the full Stellar Lumens Daily Chart by Trading View

Even though sellers are clipping Stellar Lumens gains-XLM is down five percent in the last day for example, XLM is technically a buy.

Note this though, sell pressure is strong and our stops at 26 cents were hit yesterday meaning we shall revert to neutral but we shall remain bullish.

Ideal supports remains at 22 cents though we expect prices to spring back anywhere between 22 cents and 25 cents. Any move below 22 cents effectively cancels this bullish projection.

Litecoin (LTC) Technical Analysis

News Highlights
  • Charlie Lee shall advise HTC as they design the first cryptocurrency compatible smart phone, HTC Exodus. In a tweet, the Litecoin co-founder said the smartphone shall support Litecoin and Litecoin’s Lightning Network. The latter is in beta and struggling to attract full nodes.

Technical Analysis

Litecoin (LTC) Technical Analysis
Click here to see the full Litecoin Daily Chart by Trading View

Now, here’s the thing:  As long as Litecoin sellers continue to cap gains, June 10 bear break out trade shall remain valid.

From a technical perspective, sellers are in charge and we might see further depreciation as the third phase of a break out pattern kick in following last week completion of the retest.

As such, my suggestion is that sellers can continue selling on pull backs as highlighted in our last Litecoin technical analysis. First targets in case there is a break out is $50 with stops at $80 or $90-depends on what you’re willing to risk.

Tron (TRX) Technical Analysis

News Highlights
  • Project Atlas is the “secret” project Justin Sun and the Tron Foundation kept marketing. The project was hyped and with disappointed investors, the reception has been poor.
  • Tron Virtual Machine beta version was launched on July 30. The TVM they said will be compatible with EVM but stable, fast and affordable. The community has been invited to test and find bugs on the TVM.

Technical Analysis

Tron (TRX) Technical Analysis
Click here to see the full Tron Daily Chart by Trading View

The erosion is on course and just like in our Tron (TRX) trade plans, the only way bulls can convince traders that they are in charge is if they break out above 4 cents.

If they don’t, sellers can find fitting opportunities to liquidate on every high. At current prices, my suggestion is that traders can sell with stops at 3.6 cents with first targets at 2.5 cents as reiterated in our previous TRX technical analysis.

Author: Dalmas N


Crypto Price Analysis (ADA, ETC, mIOTA, DASH, NEO): July 31, 2019

Altcoins Collapsing, ADA Down 10% in 24 Hours

Coin specific news are generally hawkish for most cryptos under our review but unfortunately that is not affecting price in anyway. For example, we have new TestNet launch for Cardano’s IELE while DASH is a staple in Venezuela. Price wise though, all coins are registering losses with sellers snapping back in trend and towing in with the bear break out pattern drawn in early June.

Cardano (ADA) Technical Analysis

News Highlights
  • In its July 2018 Edition, DPRatings, an independent cryptocurrency ratings-said that Cardano and three other smart contract platform are the most active at GitHub.
  • Two months after launching K-EVM, a conduit that allows developers to run their apps at the Ethereum virtual machine, the Cardano Foundation has now launched IELE TestNet. The aim of the TestNet is to allow Cardano’s own virtual machine to run more effectively and developers to easily predict GAS prices.
  • In an interview by Nick Hellman from Learn Crypto, Charles Hoskinson said he often advises small cap blockchain start-ups post their ICO phases.

Technical Analysis