Cryptocurrency Coin Price Prediction

Welcome to the BitcoinExchangeGuide.com cryptocurrency coin price prediction overview.

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

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  • Today's Top Cryptocurrency Coin Price Predictions
  • Latest Weekly Coin Market Value Forecasts (for historical and past references)
  • Top Altcoin Price Predictions for Each of the Most Popular Tokens along with Bitcoin (BTC)

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Today's Top Crypto Coin Market Price Analysis:

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

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

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

Latest Cryptocurrency Market Value Forecasts:

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

Contents

Crypto Price Analysis: (BTC,ETH,LTC,BCH): June 7, 2019

Bitcoin (BTC) Forecast

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The price of Bitcoin has increased from yesterday low at $7580 to $7980 at its highest point today which is an increase of 5.25% but is currently being traded slightly lower and is struggling to keep up the upward momentum.

As you can see the price came above the ascending triangle's resistance level and continued moving to the upside until it came to the next minor resistance point at the prior downside moves 4th wave where it found resistance which is indicated from the wick on the upper side of the last couple of hourly candles. From here the increase is likely to continue to some of the more significant levels which have been pointed out in my previous analysis and are at $8140 and the next one at $8500.

If we are seeing the development of the higher degree 4th wave out of the five-wave move from last Thursday, the increase would end as a rejection at the first significant level at $8140 but if we are seeing another kind of upside correctional movement the increase could continue to the second at $8500 before the next downturn.

In theory, there is still a possibility of another higher high before the downtrend which could bring the price of Bitcoin to $9400 are around the 0.382 Fibonacci level for interaction but as the market is currently overruled with a bearish sentiment I don't believe that's likely. More likely we are seeing the first wave out of the developing downtrend in which case it would end as a five-wave move with the price getting rejected at around $8140 and going down further to the 0.236 Fibonacci level at $7056 which would be its 5th wave.

As this would be only the first wave further low would be expected for the price of Bitcoin and the first significant support zone is around $6250 which was a significant horizontal resistance point on the way up.

Ethereum (ETH) Forecast

From yesterday’s low at $238.22 the price of Ethereum has increased by 5.73% as it came up to $251.88 at its highest point. The price is currently being traded slightly lower but is still above the previous minor horizontal resistance at $247.

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On the hourly chart, you can see that the price has started moving to the upside but is struggling to keep up the upward movement at the first downfall level made last Thursday. This may be the 4th wave of the five-wave move to the downside from last Thursday in which case the price cannot go any further than it already had, so we could see an immediate depreciation in price but since we have seen some bullish recovery in the market I believe that the price is likely to continue moving to the upside a bit further to the 0.236 Fibonacci level at $260.

This would be the third wave of the correctional upside structure after which further downside continuation would be expected, but if the price exceeds the Fibonacci level and continues moving to the upside we could see it retesting the $273 horizontal level before further downside.

Litecoin (LTC) Forecast

From yesterday's low at $102.3 the price of Litecoin has increased by 11.9% as it came up today to $114.47 at its highest point today. The price is currently being traded at $113.2 as it found resistance at the expanding channels resistance level and is now back inside its territory.

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Looking at the hourly chart, you can see that the price interreacted with the channels resistance level ending as a rejection which means that now we are likely to see a downside move with the price coming at first to the $109.35 which was surpassed on the way up and then further to the downside if we have seen a corrective increase like presumed.

The other possibility would be that the price would continue increasing after it finds support at $109.356 level and starts moving above the expanding channel's resistance level but I wouldn't expect it to go above the 0 Fibonacci level which is at $118.945 which is the prior high's ending point. Above prior high is another significant horizontal resistance level at $122.32 and is the upper level of the resistance zone. As the price struggled to come to this upper level when the buyer's momentum was stronger I wouldn't believe that I could do so now that the bearish has shown to be stronger.

If we have seen the first downside structure from last Thursday, the currently seen upside movement would be it's second with the next one to the downside shortly to be expected. The first area of most significance for support would be at around $83, above the 0.382 Fibonacci level as it was proved to serve as strong support.

Bitcoin Cash (BCH) Forecast

From yesterday’s low at $377 the price of Bitcoin Cash has increased by 6.7% as it came up to $402.2 at its highest point.

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Looking at the hourly chart, you can see that the price came up to the significant resistance level of the descending channel in which it is since last Thursday when the downfall started. As we have likely seen the completion of the 5th wave of a higher degree count, a downtrend has started.

The decrease seen from last Thursday could develop in a five-wave manner in which case the increase seen from 5th would be its 4th wave. The price hasn’t entered the territory of the 2nd wave whole pivot level is at $413 so another interaction with it before another lower would could be seen as an optimal scenario.

Conclusion

Correctional upside movement which was expected has started developing with the prices almost reaching or in the case of Litecoin reached their significant resistance levels so another minor increase would be expected but another downfall over the weekend.

Author: Nikola L


Crypto Price Analysis: (BTC,EOS,LTC): June 6, 2019

Bitcoin (BTC) Live Price and Analysis

From yesterday's open at $7508 the price of Bitcoin has recovered slightly but hasn't come up above $7865 where it found minor resistance. The price is currently being traded at around those levels as another attempt is being made for the price to exceed those levels.

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On the hourly chart, you can see that the price action of Bitcoin formed an ascending triangle from yesterday's open as higher highs have been made but the resistance remained at the same horizontal point as the sellers are putting pressure there. Prior to the formation of the current cluster, we have seen a decrease of 14.52% in a five-wave manner which is the third wave to the downside from last Thursday.

This indicates that now we are likely to see a recovery as the 4th wave would be the one to the upside and the previous five-wave one has ended. This is why I would be expecting a breakout to the upside from the currently seen cluster. If the price goes to the purple interrupted level at $8140 and gets rejected there it would mean that the small recovery was the 4th wave out of the higher degree five-wave move which started last Thursday when the first significant downfall of over 9% has been made and would be a stronger indication of the starting downtrend with the price forming another lower low.

If the increase continues past the mentioned level it would mean that the decrease seen from last Thursday ended as a three wave move in which case the decrease was seen could still be the part of the 4th wave of the Minute count with another higher high ahead and potentially an interaction with the 0.382 Fibonacci level. But if the price gets rejected at around $8500 it could mean that a more complex correction has started to form.

In either way, the price of Bitcoin is expected to go significantly lower after some recovery has been made as the 5th wave of the Minor count has been completed or is near completion. The most significant support zone with whom the interaction would be awaited would be at around $6250 which was a major resistance point on the way up and highly significant horizontal area. If the price breaks the level and continues moving to the downside the next significant support area would be at $4300-4100 but we are yet to see if the seller's momentum would be strong enough to push the price that low.

Litecoin (LTC) Live Price and Analysis

The price of Litecoin has been decreasing from Monday with strong momentum. The cryptocurrency has depreciated in value by 14.61% from Monday's high at $115.52 to the low at the yesterdays open at $98.64 which is the weekly low so far. The price is currently being traded at around $104 as it found some temporary support.

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On the hourly chart, you can see that the price of Litecoin interacted with the still unconfirmed ascending trendline after which it started forming a cluster above the level which is now starting to look like an ascending triangle with the price stuck below $105.455 resistance level from the upside but higher lows have been made. This indicates that the buyers are trying to make a recovery buy the sellers are putting strong pressure on the same horizontal level.

If the buyers manage to catch up some traction and regain control temporarily we are going to see a breakout to the upside from the currently seen ascending triangle but I don't believe that the upward movement would continue past the next significant resistance point which would be at around $109.35 which is the significant horizontal level above which it is considered to be the sellers territory. The next significant resistance point would be at the formed expanding channel to the downside but if the price takes some time to get to the upside it could bring this level lower since it is a descending one, closer to the previously mentioned significant horizontal one and would eventually intersect it.

Last Thursday we have seen the end of the five-wave impulse to the upside which is the sub-wave of the higher degree 5th wave of the Minute count. If this impulse wave ended it means that even a higher degree count has completed with the price starting a downside movement either as a correctional one or a higher degree downtrend. The first significant support zone I would expect to see the price of Litecoin after a corrective upside movement would be at around $83 area, but if we are seeing the starting downtrend this support point would only be the first one with the price eventually going below it as well.

EOS Live Price and Analysis

From Saturday the price of EOS has been in a downtrend and decreased by 29.7% coming from $8.6 to $6 at its lowest point of the week on yesterday's open. The price has started recovering since but has only come up to $6.52 before showing signs of struggle as the sellers have pushed the price back to $6.27 level again with the price currently being traded there.

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Looking at the hourly chart, you can see that the price is looking for support around the 0.236 Fibonacci level as it came below it on yesterday's open but quickly pulled back up and has been retesting it since. The price prior to the downfall made a higher high coming to $8.66 at its highest point which was the ending of the 5th wave from every count which means that we are seeing the development of the downside move which follows the completion of the impulsive move.

Now that the price has decreased by over 29% in one go, we are likely to see a recovery attempt. The price fell below $6.8 significant horizontal support so interaction with it from the downside for a retest of resistance looks likely but the price could continue moving above it if the buyers catch enough momentum and if the price continues moving above it the next significant level would be around half range of the previous decrease which would be at $7.33.

After this recovery ends, more downside would be expected for the price of EOS if the downtrend has started with the next significant support zone being at around $4.6

Conclusion

The prices of the major cryptos have been in a recovery from yesterday’s open but struggled to exceed the minor horizontal resistance which caused the formation of a cluster. A breakout to the upside would be expected but now for much longer as the first significant resistance points are very close.

I would be expecting to see that the prices get rejected at those first resistance points and propel the price into further downside trajectory.

Author: Nikola L


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

Bitcoin (BTC) Live Price and Forecast

From yesterday's open at $8462, the price of Bitcoin has decreased by 11.19% as it came down to $7514 at its lowest point today. Since today's low, the price has started recovering and reached $7930 but is currently being traded around $7876.

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On the hourly chart, we can see that yesterday's open was on the ascending support level from the channel in which it was since the 11th of May. The price fell below it moving further down below the second horizontal level (purple interrupted line) which was the minor resistance point on the way up and later served as support on the first downfall from last Thursday. The sellers have managed to push the price inside the lower range in an impulsive five-wave manner which indicates that the downtrend has started.

Now that the three waves have developed to the downside from last Thursday we are likely to see an upward correction developing. If we are seeing the development of the first five-wave move to the downside from the staring downtrend, the expected move to the upside would be its 4th wave and in that case cannot go above the interrupted purple line at around $8130 after which the 5th wave to the downside should develop.

If we are seeing some complex correction developing the three-wave move from last Thursday could be the first structure with the expected upside move being it's second in which case the increase could continue to $8500 level which is the next significant resistance point. I was expecting an interaction with the 0.382 Fibonacci level before the completion of the bullish upswing but it hasn't occurred so another possibility could be that we even see a corrective upside move to it but I don't believe that's likely.

Ethereum (ETH) Live Price and Forecast

The price of Ethereum has decreased by 5.55% from yesterday’s open at $249.35 coming to $235.5 at its lowest point but is currently trading at $244.3 as a small recovery has been made to the levels of the yesterday’s open where the price found resistance again and has pushed lower.

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Looking at the hourly chart, you can see that the price came down below the 2nd waves of the previous impulse ending point and found support around the vicinity of the higher degree’s 4th wave’s ending point. This invalidates the possibility of a further increase before the starting downtrend which means that we are most likely seen the first three-wave movement from last Thursday out of the expected downside move.

If the price has started its awaited downside move the price is now headed significantly lower to some of the broken resistance levels but there could still be a possibility that the increase might continue if we are still seeing the MInute 4th wave developing as a prolonged three-wave complex correction which I don’t believe is likely.

From last Thursday three-wave move to the downside have developed and if we are seeing the start of a downtrend it should develop in a five-wave manner. As it looks like the decrease which started on Sunday ended an increase to the upside would be expected to start but only as a small correctional one which isn’t going above the 0.236 Fibonacci level.

If the price goes above the 0.236 Fibonacci level we could see the price exceeding the prior high as it would mean that the structure made from 16th of May until today was the 4th wave out of the Minute count.

The first significant zone the price would be expected to go to would be at around $200 depending on the momentum behind the sell-off. The next one after that would be at around $174.

Litecoin (LTC) Live Price and Forecast

From yesterday's open at $105.664 the price of Litecoin has decreased by 6.56% today, coming to $98.7 at its lowest point. The price is currently being traded at $101.96 after it came back to the levels of the yesterday's open and found resitance there causing it to start moving to the downside again.

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On the hourly chart, you can see that the price found support on the still unconfirmed ascending support level out of the previous rising period. From last Thursday the price has moved in a three-wave manner but with the previous move could have been a five-wave one which has made an expanding channel to the downside. We have likely seen the completion of the first downside structure with the price now expected to move to the upside on a minor correction, likely ending as interaction with some of the significant resistance levels.

The first significant resistance would be at $109.356 horizontal level which is considered as the starting point of the resistance zone. The next one would be at the expanding channel's resistance which would be slightly above the prior level but if the interaction takes a bit longer then projected the levels could intersect on the interaction which would bring the resistance point back around the vicinity of $109.

As we have likely seen the ending of the five-wave impulse from 29th of April a breakout to $83 area would be expected shortly which is the first significant support area. As this mentioned impulse from 29th is the sub-wave of the ending 5th wave of a higher degree count the price is likely to continue moving past $83 further to the downside as we are seeing the development of the higher degree downside move.

Conclusion

The prices have continued moving to the downside from yesterday but have reached their minor support point which is why now a corrective increase would be expected. If we are seeing the starting downtrend the expected upside move cannot go above their broken support point on the way down and would likely get rejected at the interaction.

If the prices shortly start another downside it would likely mean that they are going back to the significant resistance point on the way up for a retest of support.

Source – Coin360.com – Click to see a full-size imageAuthor: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC,XRP): June 4, 2019

Bitcoin (BTC) Live Price and Forecast

From yesterday's high at $8742, the price of Bitcoin has decreased by around 10% today as it came down to $7856 at its lowest point. Over the weekend we have seen the price reaching $8970 and has expected to continue potentially increasing for another minor higher high and interact with the 0.382 Fibonacci level at around $9400 after the higher degree downturn starts.

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The price has fallen below the significant horizontal support at $8500 and broke the ascending support trendline made by the previous upside move. This could be an early indication that the expected downturn has started as the price fell outside the territory of the ascending structure in a three-wave manner. The interaction with the 0.382 Fibonacci level might still occur but it looks less likely at the moment as the five-wave impulse looks like it ended.

If we have seen the completion of the five-wave impulse which is the sub-wave of the 5th wave from the Minor degree the decrease seen from last Thursday could be the starting downtrend with the first three-wave structure developing to the downside. As the price bearly made a higher high last Thursday coming up spiking it looked like another increase would occur. This could still happen if the ascending structure is still the 4th wave's correctional movement developing but as the price fell to the 2nd wave's ending point it will more likely not happen.

The price is now expected to go down to some of the broken resistance levels on the way up, out of which the first significant zone would be around $6250.

Ethereum (ETH) Live Price and Forecast

The price of Ethereum has decreased by 9.77% from yesterday’s high at $269.65 to today’s low at $243.31. The price is currently being traded at $250 and is trying to start recovering with the clear signals of some temporary support reached, indicated by the large wick on some of the hourly candles.

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Looking at the hourly chart, you can see that the price has made a lower low which could be an early indication that the downtrend has started after the price completed its five-wave move to the upside.

The price fell inside the territory of the ascending structure which was broken and now that it has it will likely go to its support levels around the intersection with another significant ascending trendline.

This would bring the price of Ethereum back to about $213 but if we are seeing the higher degree downtrend like presumed the price is headed significantly lower after some upside correctional movements.

Ripple (XRP) Live Price and Forecast

The price of Ripple has decreased by 12.36% from yesterday's high at $0.46 as it came down to $0.4035 at its lowest point today. The price is currently being traded at around $0.412 slightly above today's low. As the shart decrease has been made it could be an early indication of the starting downtrend which was expected but the price hasn't exceeded the previous high last Thursday which makes this possibility still in play.

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Looking at the hourly chart, we can see that the price of Ripple fell below 0.786 Fibonacci level which served as support but hasn't come down to the 0.618 Fibonacci level. This means that unlike in the case of Bitcoin, the price of Ripple hasn't entered the territory of the 2nd wave out of the last impulse to the upside and we could potently see another increase from here if this movement is the 4th wave's correctional structure.

Interaction with the 1.272 was expected before the starting downtrend and as the price hasn't gone above the May 16th high it could still do so. The other possibility would be that the 5th wave ended as truncation with the last Thursday's high being its end in which case the three-wave movement seen from there would be the first structure out of the starting downtrend. If this is true we are now likely to see a higher degree move to the downside to some of the significant support level.

The most significant support level would be around $0.348 at 0.382 Fibonacci level which served as significant resistance on the way up, so if the price is to pullback for an establishment of support interaction with the mentioned level would be awaited.

Litecoin (LTC) Live Price and Forecast

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From yesterday's high at $115.674 the price of Litecoin has decreased by 12.48% as it came down to $101.23 at its lowest point today. A small recovery has been made since with the price currently being traded at around $105.7 and in an upward trajectory. On the hourly chart, you can see that a lower low has been made with the price going below the significant horizontal support at $109.356. Now we could see interaction with the level from the downside as a retest of resitance, considering that the price is in an upward trajectory after an impulsive move to the downside. If the price finds resistance there and gets rejected it could confirm the starting downtrend as above it would be the sellers' territory and rejection at those levels would mean that the sellers have lowered their prices.

Last Thursday the price reached $120.8 at its highest point which was the ending wave from the upward impulse most likely so as it has completed this downtrend was expected to shortly start. If we are seeing the starting downtrend it would be the one of a higher degree as the 5th wave from the Minute count was the completion of the ending wave of the higher degree, Minor count.

Is now more downside would be expected for the price of Litecoin we could likely see in it back to 0.382 Fibonacci level at first before a significant upside correction which would bring the price to $85-81 area.

If we are seeing the higher degree downtrend developing the price would continue moving lower then that after an upside correctional move but it is still unclear how far it would continue.

Conclusion

Analyzing the chart of the top cryptos, it looks like the expected downtrend has started with the prices showing impulsiveness and have made lower lows. The confirmation would still be awaited and will be seen as a rejection from the broken significant horizontal support levels.

If we have seen the end of the bullish period the market would start to enter a bearing one which could result in lower lows out of the whole bear market but this will be evaluated in due time. For now at least interaction with the broken resistance point on the way up would be expected.

Crypto Market Overview

Source: Coin360.com – Click to see the full size image
CoinLib 24 Hour Money Flow – Click to see the full size image
Source: Dapp.review – Click to see the full-size image

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC,BCH): June 3, 2019

Bitcoin BTC/USD

From Friday's low at $8126, the price of Bitcoin has continued increasing over the weekend as it made a recovery of 8.54% on Sunday when it came up to $8820 at its highest point. From yesterday the price has been decreasing again, dropping around 4% to $8456 at its lowest point today. Looking at the hourly chart, you can see that the price fell below the significant horizontal level at $8500 but is currently hovering around it as it's retesting it for support. As the price hasn't gone below the $8120 level on Friday and hasn't entered the territory of the lower wave the possibility of another increase still stands and considering that the price has managed to go above the significant horizontal level at $8500 we could be seeing this expected increase developing.

As you can see the price action has made another ascending channel from 13th of May which could be interpreted as an ending pattern for the 5th wave. This would be the 5th wave of the last impulse to the upside both of the Minute and the Minor count which means that after its completion a downturn would be expected but as it hasn't developed fully, an interaction with the 0.382 Fibonacci level is still awaited which would be around $9400.

Ethereum ETH/USD

The price of Ethereum has made a recovery of 11% over the weekend as it came up from $246 at its lowest point on Friday to $273.8 at its highest on Sunday but since then another decrease has occurred of around 4.85% with the price currently being traded at around $262.

On the hourly chart, you can see that the price of Ethereum found support on the significant ascending trendline which was the resistance level of the broken ascending channel from which the price has made a breakout on 15th of May.

The level is serving as significant support as the price interacted with it two times since the breakout occurred and is currently making the third one at the intersection with the 0.236 Fibonacci level. We are likely to see the support point hold for now as the price spiked to the downside today but managed to pull back itself up above the Fib level indicating buyers interest.

If the price finds support here like expected another increase is to be expected with a higher high to around $308 area where the 0 Fib level is which is the next significant resitance point. The increase might have ended altogether as the previous one has shown a five-wave manner movement but since the price hasn’t come down below the significant horizontal level, the uptrend continuation is still a possibility.

After the increase ends, shorty a higher degree downtrend would be expected to start as the wave structure implies that we are seeing the completion of the higher degree five-wave impulse to the upside.

This downtrend would likely bring the price of Ethereum back down to some of the significant resistance levels, broken on the way up, for a retest of support. The most significant one would be at around $214-206 area around the 0.5 Fibonacci level and the ascending resistance level from the higher degree ascending channel from January.

Bitcoin Cash BCH/USD

On Friday the price of Bitcoin Cash has reached $411.9 at its lowest point from where recovery of 9.35% has been made as the price came up to $450 over the weekend. Since Sunday another downfall has been seen to $423 at its lowest point today above which the price is currently being traded at around $426.

Looking at the hourly chart, you can see that the price of Bitcoin Cash came above the significant horizontal resitance level last Friday but since it entered the sellers' territory a shart downfall has been made below it.

Weekends recovery hasn’t been able to push the price back above it, instead, the price came close the the significant level before pulling back down which indicates that the sellers are putting a lot of pressure around the level.

If we have seen the end of the five-wave move last Friday which would be the sub-wave of the 5th wave of a higher degree count the price is shorty to start a higher degree downtrend, end considering the vicinity of the sellers' territory and that the price is losing upside momentum it could start very shortly.

Litecoin LTC/USD

From Friday's low at $104.82 the price of Litecoin has increased by 11.34%, coming to $116.715 at its highest point on Sunday reaching it again today, but has made a downfall to $109.35 horizontal level shorty. With the price currently being traded at around $112.6, we are seeing a sideways range developing which could mean that the price has encountered strong resitance at those levels.

On the hourly chart, you can see that the price made a recovery over the weekend, as it previously fell down impulsively by 13.75% but hasn't come up to the prior high level before it started experiencing strong resistance. This could indicate that the bullish upswing ended last week on the interaction with the 0 Fibonacci level at $118.945. This could also be interpreted by the wave structure which implies that we have seen the completion of the last five-wave move which is the sub-wave of the 5th wave of a higher degree count.

As you can see the weekend's recovery has been expected but only to the first significant horizontal level at $109.35 if we have seen the completion of the previous five-wave move as it would mean that an ABC correction has started. The price continued moving past the horizontal level and is now forming a sideways range which could still mean that the corrective structure has started developing but it could also mean that the price is headed for another higher high if the previous five-wave increase hasn't ended.

The level which is likely to serve as a pivot point for this confirmation would be the mentioned $109.35 horizontal level as it clearly serves as support, so if the price manages to stay above it after today's interaction it would indicate that another increase is in fact likely. But if the price continued moving to the downside and enters the lower range it would more likely mean that we are seeing the beginning of the expected higher degree downtrend.

Conclusion

The price of the majority cryptos have been recovering over the weekend but this recovery could be the one from the starting downtrend in which case it cannot exceed the prior highs made last Friday. It could also mean that the bullish upswing hasn’t ended but since the wave structures are implying that we are seeing the completion of the bullish upswing even if were to continue I wouldn’t expect it to do so for much longer before the downtrend starts.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC): May 31, 2019

Bitcoin BTC/USD Forecasting:

From yesterday's high at $9120 the price of Bitcoin has fallen to $8135 at its lowest point today which was a decrease of 10.8%. The price is currently being traded slightly above today's low and is currently sitting at $8240.

Looking at the hourly chart, you can see that the price was in a sideways range from Monday before it attempted to move to the upside again but barely managed to exceed the previous high made last Sunday which ended as a failure with the price immediately dropping down. The price came down to its first significant support level which is the previous wave's ending point and is considered to be the first wave out of the five-wave move on the Micro degree which the 5th wave of the Minute count.

As the price hasn't entered the territory of the 2nd wave the possibility of another increase is still there as the 5th wave should develop. As the previous spike exceeded the prior high it could have been the 5th wave with the price, in that case, starting the expected higher degree downside move, but I don't believe that it was as the price action looks more corrective in the horizontal sideways range. Also, the price hasn't interacted with some of the significant resistance levels out of which the most significant one is the 0.382 Fibonacci level at around $9400.

If the price holds above the current support level at $8240 and starting moving to the upside again and manages to go back up above $8500 the possibility of another increase to the $9400 would be likely, but if it goes below the current support level and enters the territory of the lower range it could mean that the 5th wave ended with the price currently starting the expected downside move to some of the significant resistance levels for a retest of support.

Ethereum ETH/USD Forecasting:

From yesterday’s high at $290 the price of Ethereum has decreased by 15% as it came down to $246.55 at its lowest point today. The price has started recovering and is currently in an upward trajectory, being traded at $259.26

Looking at the hourly chart you can see that the price fell below the significant ascending trendline but quickly managed to pull back up above it but is still below the 0.236 Fibonacci level with whom the interaction is being awaited.

As the price came down below the significant Fibonacci level the interaction awaited would most likely end as a rejection, propelling the price into further downside movement. The price fell below the 1st wave’s ending point, entering the territory of the 2nd which means that the likelihood of another higher high before the starting downtrend has been invalidated.

The wave structure implies that we’ve seen the end of the five-wave move on every count which means that now a higher degree downturn is to start, and considering the seen impulsiveness in the last 24 hours, it could already have started.

This needs to be confirmed and the most significant confirmation level would be in my mind the interaction with the 0.236 level. If the price gets rejected there it would imply that there isn’t any more momentum to the upside and that the seller’s have taken control.

If we are seeing the starting downtrend this first move should continue dropping to the 0.382 Fibonacci level before a corrective move to the 0.236 Fib level where it would get rejected. This rejection would propel the price for another impulsive decrease and would confirm the starting downtrend.

Litecoin LTC/USD Forecasting:

From yesterday's high at $119.84 the price of Litecoin has decreased by 13% as it fell down to $104.225 at its lowest point today. This decrease is showing impulsiveness in its movement which could mean that the higher degree correction has started.

On the hourly chart, we can see that the price fell below the horizontal support at $109.35 and is currently being traded inside the lower range but is still above the presumed 3rd wave's ending point where it found some temporary support. Looking at the Elliott Wave count you can see that I would be expecting that this downfall would continue for a bit longer with the price coming down to $100.6 before coming back to the broken horizontal support level for a retest after which it would continue moving to its significant resistance zone at the 0.382 Fibonacci level.

If this movement develops like expected it would mean that the higher degree downturn has started and we have seen its first wave developing as corrective one. There is still a possibility that the price could continue moving to the upside for another minor increase but the wave structure implies that the bullish upswing ended as I have counted 5 waves out of the last ending wave of a higher degree.

$109 horizontal level is a highly significant one as it could be viewed as a horizontal pivot point as it was the most significant horizontal support level since the start of the bear market until June 2018 when it finally got broken. The price managed to go above it from Monday but hasn't come to the next significant horizontal resistance level which in conjunction with the previous one is forming a resistance zone. As the price entered the sellers' territory, strong sellers pressure led to a decrease of around 13% below $109 and I don't believe that is going to go above it now that the decrease has been made. A retest of its resitance could initiate another round of selling which would confirm that the price of Litecoin has reached its high.

Conclusion

The prices of the major cryptos are starting to show signs of weakness as they’ve decreased impulsively in the last 24 hours. This could mean that the expected downtrend has started but a clear confirmation is still awaited.

Even if the price is to continue moving to the upside I would expect it to continue doing so for much further as the prices have reached their significant resitance zones. Another move to the upside might just spark the expected sell-off as it would enter the sellers' territory, triggering another round of selling.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC,EOS): May 30, 2019

Bitcoin BTC/USD Forecast

From Monday, the price of Bitcoin continued increasing and has come up to $8949.8 at its highest point on Tuesday after which a minor retracement occurred to $8506 horizontal level which serves as support. The price has found support there and started moving to the upside again but still hasn't exceeded the previous high as it's currently being traded at $8765.7.

On the hourly chart, you can see that the price of Bitcoin is set to reach 0.382 Fibonacci level which is the next significant resitance point on the way up. This minor increase expectation is also validated by the wave count as it also implies that the final 5th wave from the currently seen increase should develop fully. This 5th wave is a sub-wave of the five-wave impulse of the Minute count which is the ending sub-wave of the higher degree Minor count.

This is why after the completion of the currently seen upside move from 23th of May I would be expecting the start of the higher degree downside move. This downside move could be the start of the downtrend as the increase seen from 15th of December could still be correctional, or it could be the 4th wave retracement if the bull market started and we are seeing the development of the first five-wave impulse.

As I would be expecting a move to the downside very soon these possibilities would be evaluated from the depth and momentum of the retracement. In either way, I would be expecting the price to go below the 0.236 Fibonacci level where it would likely find support at first but would continue moving back below it to some of the significant resitance levels which were broken on the way up, for a retest of support.

Ethereum ETH/USD Forecast

The price of Ethereum has continued increasing from Monday as it came up to $289 at its highest point, exceeding the prior high. This has validated my assumption of the 5th wave developing to the upside.

As the wave structure implies another increase from here is likely to around $308-309 area but as this would be the ending wave of every count a higher degree downtrend is to start shortly.

This downtrend is set to bring the price of Ethereum significantly lower to some of the broken resitance levels where some attempt will be made for an establishment of support. The most significant of those resistance levels is the one at $214 at around the intersection of the lower ascending trendline and the interrupted bold ascending level.

If the price goes below that level I would mean further downside would be expected for the price of Ethereum as would see the price entering the territory of the lower range to whose support levels the price might continue.

Litecoin LTC/USD Forecast

From last week, when the price of Litecoin was $84.94 at its lowest point on Thursday 23rd we have seen an increase of around 40% as the price reached spiked to $122.32 at its highest, but found strong resistance at $118 below which the majority of the hourly candles closed.

This increase was expected to play out as an ending wave from the five-wave increase we've seen developing from 29th of April when the price of Litecoin was sitting at $69.23. As the price reached the projected level and has done so in a five-wave manner we have likely seen the end of the increase, although the confirmation is awaited.

If we've have seen the end of the five-wave move it should mark the end of the 5th wave of a higher degree count which goes back to 29th of January when the price was sitting around $30.755 and is the third wave from the structure formed from 15th of December. Now that the third wave has ended or is near completion we are likely to see a downside move of the same degree which could be the start of the downtrend altogether as this increase was corrective or could be another retracement as the 4th wave before further bullish price action.

In either way, as now a move to the downside would be expected at least of around 30% from the current levels we are going to see from its momentum and depth we are to evaluate the likelihood of both possibilities.

EOS/USD Forecast

The price of EOS has increased by over 42% from last week's analysis on Thursday 23rd when it was sitting at $5.759 as it came up to $8.229 at its highest point today. The price has encountered some strong resistance at those levels and has started forming a triangle which now appears to be an ascending one.

As you can see from the hourly chart, the of EOS has been in a five-wave increase from 26th of April and now that the 5th wave has started developing to the upside and came close to my target level another minor increase would be expected to the 0.382 Fibonacci level or in price terms around $9.16 before the completion of the impulsive move.

We could have seen the completion of the 5th wave with the currently seen cluster being the top, but the wave structure implies that another increase should be expected, especially as the currently seen structure is an ascending one, indicating buyers pressure.

Soon we are to see the start of the higher degree move to the downside which could bring the price of EOS significantly lower, potentially back below 0.236 Fibonacci level and even lower to some of the significant resistance levels broken on the way up for a retest of support, out of which the most significant one would be at around $3.27.

Conclusion

The market is likely to continue its increase for another minor high of around 8% before we see the start of the downturn. This could be the start of the higher degree downtrend as the increase seen could be correctional or could be a higher degree retracement before another runup which would confirm the bull market.

From the momentum behind the expected move to the downside and the depth of the support found we are to evaluate the likelihood of both possibilities in due time.

Author: Nicola L


Crypto Price Analysis: (BTC,ETH,LTC,EOS): May 23, 2019

BTC/USD Forecast

From yesterday's open at $8062 the price of Bitcoin has decreased by around 7%, measured to the lowest point the price has been today which is at $7496.6.

Click to see a full-size image.

Looking at the hourly chart, we can see that the price broke the minor horizontal resistance level which started yesterday as the first move down went below the level after which another attempt has been made for the price to keep up the upward trajectory, but the descending trendline validated itself as a resistance point yet once again, before the price collapsed below the significant horizontal level at $7887, and is currently being traded at around $7600.

The price has gone to the ascending trendline like expected for interaction but only as a quick spike for now but further interaction could be expected with the hourly candle closing on its levels. This ascending trendline is the first support point the price has encountered on the way down. Now that the price is in a downward trajectory we are going to see if the weekend's increase was corrective or impulsive as if the price holds above the $7428 level it could be impulsive.

We are most likely seeing a continuation of the last week's downside movement which was made in a five-wave manner but the move could also very well be the 4th wave from the impulsive wave to the upside. The first scenario looks more likely to me as from here I would be expecting further downside below the ascending trendline and in a five-wave manner similarly,like we've seen last week which would result in the price going back to $7000.

ETH/USD Forecast

From yesterday’s high at $259 the price of Ethereum has decreased by 9.94% as it came down to $233 at its lowest point today.

Click to see a full-size image.

On the hourly chart, you can see that the price of Ethereum has fallen today to the ascending trendline like expected previously but hasn’t gone below the prior low made last week on Friday.

Now that the price came down to those levels, it found support as indicated by the price action in the last couple of hours and is now likely headed to the upside as the 4th wave correction ended.

Another possibility would be that the price is yet to continue moving further to the downside below the last week’s low in which case we could see it fall to $208 around the next significant support level, but for now we are yet to see how the price behaves on the way up.

LTC/USD Forecast

From yesterday's high at $91.53 the price of Litecoin has decreased by 6.16% and is currently being traded at $86. The price started moving with strong momentum to the downside on yesterday's interaction with the horizontal support level from the prior upper range and continued on during the day.

Click to see a full-size image.

On the hourly chart, you can see that the price of Litecoin has started falling below the second horizontal support level at $86.4 which is the ending point of the 1st wave of a higher degree. This means that the increase seen over the weekend was corrective as it ended as a three-wave correction. This was validated by the price going below $90.5 which was the significant invalidation point.

We are now most likely seeing the development of another downside move like we've seen last week after Thursday's high was reached. Since the recovery that followed was correctional it could mean that another five-wave impulsive move is coming of an equal length and would be the third wave out of the higher degree correction if we haven't seen the end of the five-wave impulse to the upside.

If we have seen end of the five-wave impulse to the upside the movement could also be the 3rd wave from the higher degree five-wave move to the downside as well, in which case the price of Litecoin is set to go further lower below $84.2 which is the second horizontal level below which is the starting point of the second wave of the higher degree move which the price cannot enter on the 4th.

EOS/USD Forecast

From yesterday's high at $6.334 the price of EOS has fallen by 9.64% as it came down to $5.72 at its lowest point today above which it is currently being traded.

Click to see a full-size image.

Looking at the hourly chart, you can see that the price of EOS fell to the significant horizontal support level from the previous drop but came slightly below it and is currently retesting it from the upper side again. This could be an early indication that the price is headed lower to the next horizontal support level at $5.58 before the end of the downward move or even for a breakout to the downside.

We are most likely seeing the 4th wave from the five-wave move to the upside which is corrective in nature and after its completion another increase would be expected, unless the price continues moving down from here and goes below $5.34 which is the ending point of the 1st wave in which the price can't enter on the 4th. If this price finds support higher then the mentioned level and starts increasing impulsively again the 5th wave would be expected to push the price above the prior high made on last Thursday which is at $6.81.

Conclusion

The prices have been falling in the last 24 hours and this downfall confirmed that the increase seen over the weekend is correctional in nature. As the decrease made is likely a continuation of the impulsive downside move made from last Thursday till Friday, we could see an equally strong move to the downside developing which could push the prices below the Friday’s low.

As this is correctional, after its completion I would be expecting another and the final increase.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC): May 22, 2019

BTC/USD

From yesterday's open at $8020 the price of Bitcoin has been moving sideways, hovering around the level but was mostly holding above $7893 until now when the price started moving below it with it currently being traded at $7802.

Click to see the full-size image.

Looking at the hourly chart, we can see that in the last hour, the price of Bitcoin spiked down to $7757.1 level as the opening of the candle was on the horizontal support level. As the hourly candle still hasn't closed we still can say that a breakout occurred but it definitely looks like it has started. This horizontal level is only a minor one and isn't all that significant, but this breakout could be an early indication of the expected downside move to some of the support levels out of which the closest one would be at the ascending trendline from 11th of May.

It is still unclear whether or not the increase seen from last Friday and continued over the weekend was correctional or impulsive.

This would be verified soon as the price is starting to move to the downside and if it goes below $7450 level it would mean that the increase was correctional as the price would enter the territory of the now labeled B wave which if impulsive would be the 2nd out of the five-wave increase.

If the price holds above the level and starts moving to the upside again a more likely scenario would be that the increase seen over the weekend is another five-wave impulse wave which is set to push the price for a breakout from the descending trendline and higher then the last Thursday's high at $8300.

ETH/USD

From yesterday low at $248.58, the price of Ethereum has increased by 5.51% as it came up to $262.27 at its highest point today, but since it reached those levels a downfall to $250.6 has been made.

Click to see the full-size image.

On the hourly chart, you can see that the price of Ethereum has continued moving upward from the interaction with the minor horizontal level around the vicinity of Friday’s first waves ending point but hasn’t come up above the prior high made over the weekend.

This could mean that we have seen a five-wave move instead of an ABC correction to the upside with the 5th wave ending as truncation but it could also mean that the ABC correction ended with the decrease seen on Monday being its 1st wave and the increase seen ending today its 2nd wave.

The price is now likely headed to the downside as it encountered resistance around the prior high level at $262.12 level and from this downside movement, we are to reevaluate the likelihood of both scenarios.

If the price has started moving impulsively to the upside from last Friday the price cannot go below its starting point which would be at $231.31, but if the price goes below it we could be likely seeing the beginning of the higher degree downtrend. Another possibility would be that the price is headed down below the mentioned level but another increase might come after as it could be a three-wave correction of the higher degree and would be the 4th wave out of the five-wave move to the upside.

LTC/USD

The price of Litecoin has been moving sideways from yesterday and has mostly been hovering around $91.2 without managing to go above $92.5 which was its minor horizontal resistance point. As the price hasn't gone up above the mentioned level but a series of minor higher lows have been made and ascending trendline formed but today it got broken with the price spiking down to $89.45 at its lowest point today.

Click to see the full-size image.

On the hourly chart, you can see that the price went below the ascending trendline which was formed from last week on Friday when the price started recovering after a decrease of around 20%. Similarly like in the case of Bitcoin the price started to break out to the downside from the current structure but we still can't say that this is a valid breakout as the price is above the significant horizontal level at $89.192 which isn't significant as support on itself but is an invalidation level for the assumption that the recovery seen over the weekend is the start of the next impulsive move to the upside.

If we are seeing the 4th corrective wave taking place out of the next five-wave increase the price cannot enter the territory of the 2nd wave which would be below the mentioned level. The price already spiked down below it on Monday which increased the likelihood of the increase being a three-wave correction but the candle managed to close significantly above on the hourly chart which paints an inconclusive picture.

Last week the price reached $107 at its highest point on Thursday which could have been the end of the higher degree five-wave move but it could have also been the 3rd wave with the final one yet to come. This is soon to be verified as the price is now likely headed further to the downside and if it goes below the third horizontal level seen on the hourly chart it would enter the territory of the 2nd wave from the higher degree and would invalidate the presumption of the 5th wave coming after.

Conclusion

The prices have started showing further signs of weakness as they have been stopped out at their minor resistance points and have turned around managing to go below their current minor support points. This could be an early indication that the higher degree move to the downside is coming but it is still unclear where the price is headed afterward as last weeks’ increase which ended on Thursday could have been the end of the bullish period altogether or we could be seeing the 4th wave correction as the last weeks increase was the 3rd one.

Author: Nikola L


Crypto Price Analysis: (BTC,XRP,LTC): May 21, 2019

Bitcoin (BTC) Forecast

Last Monday when the price of Bitcoin was sitting at $6976 we have seen an increase of 18.88% measured to the weekly high at $8294 made on Thursday but immediately after reaching those levels, the price fell sharply and steeply as it came down by 14.36% on the following day coming to around $7100. From Friday and throughout the weekend the price has recovered close to the level of Thursday's high at $8200 on Monday's open.

Click on the image above to see it in full-size.

From Monday the Bitcoin price has been decreasing and came down to $7676 as the price action created a head and shoulder pattern which is considered to be the “top” pattern. As the price fell another upside move has been made after but with the price struggling to exceed the Monday's high before showing signs of weakness as it encountered resistance below it at around $8020. The price is currently being traded at $7936 and has been in an upward trajectory since yesterday but as it hadn't exceeded the previous high on the yesterday's upward momentum it is now likely headed down to some of the significant support levels out of which the currently most significant one would be the ascending trendline made from 11th of April.

Last Thursday the price reached the end of the 5th impulsive move of the lower degree count which is why we've seen a straight downfall after. As this downfall was made in a five-wave manner the increase that followed is likely a correctional one if it ends as a three-wave move, and considering that the price has shown the signs of weakness it is likely to end as a three-wave increase. This still hasn't been confirmed as the price hasn't fallen below the invalidation levels and hasn't come up above the prior high which would mean that the move has been made in five waves.

This makes the outlook uncertain but the most likely outcome would be that we have seen the end of the higher degree 5th wave of the Minor count on last Thursday in which case the price action movement that followed would be viewed as correctional one. The other possibility would be that price is now headed for further upside movement with the increase seen from Friday being the start of the next five-wave increase but considering the resistance shown and the impulsiveness behind the decrease seen last week I don't believe that's likely.

More likely we are seeing the higher degree move to the downside out of which the last weeks decrease is its starting wave with the increase seen after being a correctional second wave of a higher degree. This would soon be verified as the price is to shortly interact with some of the significant levels but for now, I would be expecting further downside movements potently back below $7000.

Read: NYSE Arca Looks to Amend Rules in Order to List Bitcoin Backed ETF

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Ripple (XRP) Forecast

From last Thursday the price of Ripple has fallen by 22.39% as it came down to $0.36952 on the following day. Over the weekend we've seen a slight recovery above the 0.768 Fibonacci level but only as a quick spike as the price immediately after started moving below it and is currently sitting at the 0.618 Fibonacci level where it has been establishing support around $0.39 area.

Click on the image above to see it in full-size.

As you can see from the hourly chart the upward movement was expected and the price came to the significant Fibonacci level on the upward movement but it is still unclear wheater or not this was the end of the expected five-wave increase as the spike to the 1 Fibonacci level could have been the 3rd wave. If this is true that the decrease that followed would be the 4th wave with the final one shortly coming and would set to exceed the last weeks high at around $0.4762.

If the price stays above the 0.618 Fibonacci level before continuing further upside movement we could likely see another increase above the prior high as the 5th wave would develop, but if the price continues moving to the downside and falls below the 0.236 Fibonacci level it would mean that the five-wave increase ended and that the increase seen from last Friday until today is correctional in nature and is a continuation of the 22.39% downfall.

If this were to be true, then we are to see further downside movement for the price of Ripple below the significant horizontal support level found around the 0.5 Fibonacci level but it still needs to be confirmed. If we are seeing the development of another five-wave impulse from last Friday instead of the correctional three-wave move the price cannot fall below the 0.618 Fibonacci level as it would enter the territory of the second wave which it cannot do on the presumed 4th wave which is currently developing and is why the 0.618 Fibonacci level is viewed as a pivot point.

Read Also: ‌‌Ripple (XRP) Opens New Corridor Between Saudi Arabia to India for Cross-Border Remittance

Litecoin (LTC) Forecast

From Monday's open at $96.116 the price of Litecoin has decreased by 7.32% as it came down to $89 on the same day. Since yesterday's low, a small recovery has been made with the price currently being traded at $90.7 but the momentum looks like it's slowing down as a lower high has been made compared to the previous one, made close to today's open.

Click on the image above to see it in full-size.

Looking at the hourly chart we can see that the price came down to the significant horizontal support level last Friday around the vicinity of the 1st wave out of the five-wave impulsive move which started on 26th of April which could be the wave 4 if the impulse hasn't ended. As strong sellers momentum has shown last week the downfall made could be the start of the higher degree downside move as the five-wave impulse ended on Thursday which is soon to be verified.

An interesting situation occurred yesterday for the price action development of Litecoin, namely the price fell below $90.5 level which was the significant indication level of labelings behind the increase seen from last Friday. If the downfall made on Friday was the 4th wave the increase that followed should be the start of the next impulsive move, but as the price fell below the mentioned level and spiked down further it entered the territory of the presumed 2nd wave which it cannot do on the 4th wave which is why I am considering that more likely the five-wave impulse ended and that the increase seen ended as well as the three-wave correction after the initial downfall.

What's interesting is that the price made a large wick to the downside so we still cannot say conclusively that it entered the 2nd wave's territory as the candle hasn't closed inside its territory and the price made a recovery above the significant horizontal level. We are shortly going to see the proper validation but for now, it more likely looks like the price is heading further down as the five-wave increase from 26th of April likely ended.

Read Also: ‌‌‌‌‌‌WhatsApp Now Supports Sending and Receiving Bitcoin (BTC) and Litecoin (LTC) via Lite.Im Bot

Cryptocurrency Market Update:

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

Conclusion

As indicated by the analyzed chart, last Thursday's increase was likely the ending point of the five-wave move to the upside, especially considering the impulsive downfall made after. This means that the weekend’s recovery is correctional with the price of Litecoin showing LTC 1.15, but a proper confirmation is still awaited.

Recent Price Predictions: Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) Price Prediction: Crypto Market Analysis.

Author: Nikola L


Crypto Price Analysis: (BTC,ETH,LTC): May 20, 2019

Bitcoin BTC/USD Forecast

On Friday, the price of Bitcoin has been in a downward trajectory with strong momentum as the cryptocurrency decreased from $7917 to $7105.7 at its lowest point.

From there the price has started increasing again and has continued doing so over the weekend until today’s open when the price reached $8215 which is an increase of 15.62% but since today’s open the price has started decreasing again and is currently being traded at $7881.

Click to see the full-size image

Looking at the hourly chart, we can see that the price of Bitcoin recovered the downfall which started last Thursday with the price getting close to the starting point of the mentioned decrease but has come slightly lower than its highest point before showing signs of weakness.

The downfall which started on Thursday was made in a five-wave manner and with the increase, after developing in three waves we could be seeing the development of the higher degree 5-3-5 correction after the 5th impulse wave ended.

The price action has formed a head and shoulders pattern with the horizontal level at $7890 serving as support which was also indicated by the large wick from the downside seen on the last couple of hourly candles. This could be the first sign that the price of Bitcoin isn’t heading higher on the currently seen upward momentum which started on Friday.

If we are seeing the development of the ABC correction after the 5th impulse wave ended the price is now likely to develop the C wave which would also be in a five-wave manner similar to the downside movement seen from Thursday to Friday.

If this occurs the price would likely find support on the still unconfirmed ascending trendline but if it goes below it and is developing an ABC correction it could end around $6980 area.

The other possibility would be that the decrease seen on Friday was the 4th wave retracement from the previous wave which would mean that the increase seen after is the ending 5th wave and is likely to continue moving further up, but in either way, I would be expecting a retracement first.

Ethereum ETH/USD Forecast

The price of Ethereum has decreased from last Thursday to Friday by 17.29% but since the Fridays low at $230 the price started gaining upside momentum and has managed to recover by 14.4% measured to today’s open at $262.42.

Click to see the full-size image

As you can see from the hourly chart, the price recovered in a three-wave manner which could be the upward correctional movement after the impulsive downside move is seen last week ended with more downward movement ahead.

This will shortly be verified as the price is currently retesting the 1st wave’s ending point which if the price is on an impulsive rise cannot go below. If the price falls below the 247.33 level it would mean that the upward movement has ended as a three-wave increase and has been correctional in which case further downside would be expected.

But if the price holds above the level and continues immediately increasing from here I would mean that the last week’s downfall was a retracement before further upside continuation. As the price of Ethereum has previously broken out form the ascending channel with an impulsive parabolic move the downfall that followed is likely to continues and would result in the retest of the broken resistance level for support.

The question of whether or not we’ve seen the end of the impulsive move of a higher degree altogether is still there but it will shortly be verified by the price action movement.

In the most optimal scenario, I would be expecting a downside move from here to the broken resitance level which would in price terms be around $228 before another and the final run-up from the impulsive move which started on 26th of April and is the ending wave of a higher degree, after which a higher degree downside move would be expected.

The other possibility would be that the impulsive move to the upside ended in which case the last week’s decrease would be the star of the mentioned higher degree downside move but since the price hasn’t gone below $228 level this is still unconfirmed.

Litecoin LTC/USD Forecast

Last Thursday, the price of Litecoin came up to $106 at its highest point from where a decrease of 19.31% has been seen until Friday as the price came down to $85.564 at its lowest point. As Friday's low was made to the significant support area the price started recovering and came up over the weekend by 12.42% measured to today's open at $96.187. Since today's open the price has started moving to the downside again and is currently being traded at $91.2.

Click to see the full-size image

On the hourly chart, you can see that the price came down to the horizontal support zone around the vicinity of the ending point of the first wave which broke out for the descending channel on the 30th of April which could mean that it was the 4th wave out of the five-wave impulsive move. It is presumed that the impulsive move ended on Thursday especially considering that the price started decreasing fast with strong momentum in which case we are seeing the correctional structure developing or even the higher degree downside move.

This will soon be verified as the LTC price is now in an upward trajectory and has developed a three-wave structure which if corrective has ended with the price now headed to the downside which already started. But as it is holding above the Friday's high which is the first wave of the now developing move it could very well be the 4th wave of the next five-wave move to the upside.

If the price manages to hold above $90.51 and starts moving to the upside above today's high at $96.56 we are likely seeing another impulse wave which would be the ending one, but if it continues its downward trajectory and starts moving below $90.51 we are most likely seeing further downside movement below the horizontal support zone.

Complete Crypto Market Overview:

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

Conclusion

The prices of the major cryptos have seen shart decrease last week, followed by a recovery over the weekend. This movement could be interpreted either as a retracement before the start of another and the final impulse wave after which a higher degree downside move would be expected, or it could very well mean that the expected higher degree downside move has already started with the weekend's recovery being corrective.

Author: Nikola L


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

BTC/USD

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

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

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

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

ETH/USD

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

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

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

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

LTC/USD

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

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

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

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

BCH/USD

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

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

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

Conclusion

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

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

Author: Nikola L


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

Bitcoin Price Analysis: BTC/USD Exchange Rate Value

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

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

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

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

Ethereum ETH/USD Anaylsis

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

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

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

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

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

Litecoin (LTC/USD) Analysis

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

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

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

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

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

EOS/USD

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

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

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

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

Conclusion

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

Author: Nikola L


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

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

BTC/USD

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

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

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

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

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

BCH/USD

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

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

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

LTC/USD

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

Bitcoin Price Analysis Today: BTC/USD

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

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

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

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

ETH/USD

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

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

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

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

XRP/USD

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

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

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

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

LTC/USD

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

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

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

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

Conclusion

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

Author: Nikola L


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

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

Bitcoin Price Analysis: BTC/USD Exchange Rate

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

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

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

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

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

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

Today's ETH/USD Price Forecast

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

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

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

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

Today's XRP/USD Price Analysis

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

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

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

Litecoin (LTC/USD) Price Prediction Today

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

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

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

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

Conclusion

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

Author: Nikola L


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

Bitcoin BTC/USD Price Watch

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

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

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

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

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

Ethereum ETH/USD Price Watch

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

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

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

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

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

Litecoin LTC/USD Price Watch

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

BTC/USD

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

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

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

ETH/USD

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

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

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

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

LTC/USD

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

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

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

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

EOS/USD

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

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

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

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

Conclusion

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

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

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

ETH/USD

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

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

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

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

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

XRP/USD

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

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

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

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

BCH/USD

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

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

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

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

Conclusion

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

Author: Nikola L


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

BTC/USD

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

Click to see image in full-size

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

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

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

ETH/USD

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

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

Click to see image in full-size

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

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

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

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

XRP/USD

Click to see image in full-size

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

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

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

BCH/USD

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

Click to see image in full-size

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

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

Conclusion

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

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

Market Update:

Coin360
Source: Coin360.com

Author: Nikola L


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

BTC/USD

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

Click the image above to see it in full-size

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

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

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

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

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

ETH/USD

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

Click the image above to see it in full-size

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

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

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

XRP/USD

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

Click the image above to see it in full-size

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

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

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

BCH/USD

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

Click the image above to see it in full-size

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

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

Conclusion

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

Author: Nikola L


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

BTC/USD Market Analysis

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

Click above to see the full-size image.

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

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

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

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

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

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

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

Click above to see the full-size image.

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

This also implies the price of other cryptos.

ETH/USD Market Analysis

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

Click above to see the full-size image.

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

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

Click above to see the full-size image.

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

XRP/USD Market Analysis

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

Click above to see the full-size image.

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

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

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

Click above to see the full-size image.

LTC/USD Market Analysis

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

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

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

Click above to see the full-size image.

Conclusion

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

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

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

Author: Nikola L


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

Bitcoin BTC/USD Price Analysis

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

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

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

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

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

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

Ethereum ETH/USD Price Analysis

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

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

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

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

Litecoin LTC/USD Price Analysis

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

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

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

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

EOS/USD Price Analysis

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

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

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

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

Conclusion

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

Author: Nikola L


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

Bitcoin BTC/USD Analysis

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

Click here to see the full-size image.

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

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

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

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

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

Click here to see the full-size image.

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

Ethereum ETH/USD Analysis

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

Click here to see the full-size image.

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

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

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

Click here to see the full-size image.

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

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

Bitcoin Cash BCH/USD Analysis

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

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

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

Bitcoin BTC/USD Market Analysis

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

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

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

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

Ethereum ETH/USD Market Analysis

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

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

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

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

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

Ripple XRP/USD Market Analysis

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

Bitcoin BTC/USD

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

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

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

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

Ethereum ETH/USD

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

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

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

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

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

Ripple XRP/USD

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

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

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

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

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

Conclusion

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

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

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

Author: Nikola L


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

BTC/USD Price Watch

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

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

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

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

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

ETH/USD Price Watch

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

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

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

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

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

XRP/USD Price Watch

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

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

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

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

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

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

Conclusion

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

Coin360.com – Click to see the full size image

Author: Nikola L


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

BTC/USD

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

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

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

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

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

ETH/USD

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

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

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

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

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

XRP/USD

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

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

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

LTC/USD

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

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

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

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

Conclusion

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

This weeks Price Watch:

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

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

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

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

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

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

ETH/USD

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

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

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

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

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

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

XRP/USD

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

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

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

ETH/USD

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

Click to see the full-size image

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

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

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

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

XRP/USD

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

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

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

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

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

BCH/USD

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

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

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

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

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

Conclusion

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

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

ETH/USD

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

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

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

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

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

LTC/USD

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

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

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

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

EOS/USD

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

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

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

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

Market Conclusion

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

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

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

ETH/USD

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

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

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

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

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

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

XRP/USD

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

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

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

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

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

BCH/USD

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

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

BTC/USD Forecasting

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

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

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

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

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

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

ETH/USD Forecasting

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

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

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

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

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

XRP/USD Forecasting

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

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

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

BCH/USD Forecasting

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

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

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

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

Crypto Market Conclusion

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

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

ETH/USD

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

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

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

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

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

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

XRP/USD

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

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

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

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

Conclusion

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

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

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

Author: Nikola L


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

BTC/USD

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

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

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

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

ETH/USD

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

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

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

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

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

BNB/USD

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

ETH/USD

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

Click to see the full-size image.

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

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

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

LTC/USD

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

Click to see the full-size image.

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

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

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

EOS/USD

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

Click to see the full-size image.

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

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

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

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

Conclusion

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

Current Crypto Market Snapshot:

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

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

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

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

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

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

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

ETH/USD

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

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

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

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

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

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

XRP/USD

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

Bitcoin Price Prediction: BTC/USD Exchange Rate Value

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

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

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

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

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

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

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

Ethereum Price Prediction: ETH/USD Exchange Rate Value

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

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

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

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

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

Ripple Price Prediction: XRP/USD Exchange Rate Value

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

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

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

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

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

Bitcoin Cash Price Prediction: BCH/USD Exchange Rate

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

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

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

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

Conclusion

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

Author: Nikola L


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

BTC/USD

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

Click to see the full size image

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

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

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

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

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

ETH/USD

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

Click to see the full size image

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

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

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

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

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

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

XRP/USD

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

Click to see the full size image

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

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

Conclusion

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

Currenty Crypto Market Overlook:

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

Author: Nikola L


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

BTC/USD

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

Click the image above to see it in full-size

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

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

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

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

ETH/USD

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

Click the image above to see it in full-size

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

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

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

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

LTC/USD

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

Click the image above to see it in full-size

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

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

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

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

Conclusion

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

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

Author: Nikola L


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

BTC/USD

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

Click to see the full-size image.

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

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

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

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

ETH/USD

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

Click to see the full-size image.

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

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

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

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

XRP/USD

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

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

Click to see the full-size image.

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

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

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

BCH/USD

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

Click to see the full-size image.

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

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

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

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

Conclusion

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

Author: Nikola L


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

BTC/USD

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

Click to see the full-size image.

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

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

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

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

ETH/USD

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

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

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

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

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

XRP/USD

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

Click to see the full-size image.

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

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

NEO/USD

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

Click to see the full-size image.

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

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

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

Final Thoughts

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

ETH/USD

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

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

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

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

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

XRP/USD

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

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

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

BCH/USD

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

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

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

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

Conclusion

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

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

Current Market Overview:

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

Author: Nikola L


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

BTC/USD

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

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

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

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

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

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

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

ETH/USD

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

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

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

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

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

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

XRP/USD

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

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

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

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

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

Conclusion

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

Author: Nikola L


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

BTC/USD

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

Click to see the full-size image.

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

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

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

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

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

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

ETH/USD

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

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

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

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

XRP/USD

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

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

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

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

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

NEO/USD

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

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

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

Conclusion

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

This weeks price breakdown:

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

Current Market Overlook:

Coin360 – Click to see the full-size image.

Author: Nikola L


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

BTC/USD Price

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

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

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

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

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

ETH/USD Price

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

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

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

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

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

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

LTC/USD Price

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

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

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

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

BCH/USD Price

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

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

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