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CZ Continues to Delight the Market with Its Positive TrendsAfter Binance published a blog post in which it answered the question of whether BNB is a tokenized security or a utility token BNB continued its growth and overcame the resistance level of $16.00. Binance listed more than 120 ways in which BNB can be used, which means that the asset has a high potential for active development and robust circulation. As a result, the investors just got another reason to believe in the glittering future and continue to invest in the coin. The return of the BNB/USDT pair rate to above $18.50 will allow to expect sustained upward movement to the $20.00 mark. Please note that the resistance level of $18.50 was established as far back as May of this year and it acted as a level of support, thereby sustaining this position. The bullish scenario remains the most likely until the rate returns to under $16.50, which is still a strong technical level of support. Let's also take notice of the fact that the MACD histogram columns over zero, while the RSI indicator points up but is still significantly lower than 75, which would signal that the currency is overbought. All of this points toward the buyers' willingness to carry on the upwards drive to the $20.00 mark, and we recommend using the trailing feature in trading. We would also like to remind our readers that at the AMA session CZ announced the date of the next burning of BNB, which, according to the announcement, will take place some time this October. This event is yet to come to pass, and in the meantime we are awaiting more detailed information
Long
by Anton_Bartenev
Bitcoin Continues to Lose Its LeadLet us recall that overall the situation on the cryptocurrency market remains fairly stable. At the same time, bitcoin continues to lose its market share, which shrunk to 66.8% from its September high of 71.2%. And of course we can always take the opposite view of the situation and see that it was the altcoins' share of the market that went up. Nevertheless, we are not currently seeing the general increase of the market capitalization, the process that took place from December 2018 to June 2019. Looking at the market capitalization change vector over the last several weeks, we are not seeing any clear cause for optimism. This may be due to the low demand for Bakkt's bitcoin futures or could be a response to yet another rejection by the United States Securities and Exchange Commission of the proposal to launch bitcoin ETF, which was planned by the Bitwise Asset Management in partnership with NYSE Arca platform . Whatever the reason, there is no need to panic yet: the market capitalization holds above the $215B-$216B mark, which has been the level of resistance for quite some time. Consequently, until this number drops below $211B, investors may expect continued growth of BTC and of the vast majority of the other Top 10 currencies in terms of capitalization
CRYPTOCAP:TOTAL
by Anton_Bartenev
EOS, One of the Few Tokens to Not yet Have Gone to All Time LowDespite the positive news about the launch of the EOSIO 2.0 protocol, the rate of EOS/USDT pair is not in a huge rush to bounce back to its ATH. After a strong downward squeeze on September 24 the price was only able to come back up to 3.30. Meanwhile, against the backdrop of a price decline of all altcoins the price dropped to the bottom boundary of the flag . This pattern signifies a continuation of the trend, so there is no point in expecting strong growth right now. The breach of the lower boundary of the flag will trigger a strong wave of selloffs of the coin, which will likely drive the price to the 2.60 mark. As a result, this development will have a negative effect on the asset overall. We cannot currently recommend buying EOS for USDT: the best way to get into the currency would be to wait until the price reaches 2.50-2.60 (upon following the global vector of the trend). At this level it would be sensible to place a limit order to buy.
Short
by Anton_Bartenev
Will XRP Push off the Bottom or Remain an Outsider?While the rest of the world is preparing for the Libra launch, Brad Garlinghouse is "postponing" the project for least another three years. It is not inconceivable that he is just trying to attract attention to his own project amidst all the hype surrounding Libra. The coin's price easily rose above Fibo 50% and hit the “golden ratio” of 61.8%. This speaks to the strong resistance on the part of sellers, and if this level is breached the price will continue its march towards the 0.29 – 0.30 USDT mark. Overall, the coin looks attractive in terms of buying as indicators signal the continuation of the local trend. To be certain that the upwards movement will continue, the MACD sliding averages need to cross the 0 mark, and the price in the daily timeframe to hold above the MA50. At the 0.2690 level it may be recommended to start buying the coin with limited orders , up to 0.2650. It appears quite likely that the coin will continue its climb from these rates.
Long
by Anton_Bartenev
USDT: No Such Thing as Too MuchThe United States Securities and Exchange Commission (the SEC) still believes that the primary cryptocurrency is not a security. As reported by The Block, Cipher Technologies Bitcoin Fund filed an application to register a closed-end interval fund and investment management company. The application states that bitcoin is a security. The SEC experts did not agree with this statement, citing Howe test and the SEC digital asset framework released earlier this year. BTC/USDT rate is currently holding above the technical level of support of $7,800, which is the bottom boundary of the downward-pointing triangle. The breach of the bottom boundary of this pattern can trigger a strong wave of selloffs, crashing the price by another $900-$1,000, to the next technical level of support of $6,800. The bearish scenario will only come to pass if the $7,800 mark is broken through; until that happens there remains a chance that the buyers will restart the growing trend. We will only be able to expect the rate to continue going up if and when the BTC/USDT rate climbs above $8,500. From our reading of the indicators this is still a possible scenario. On the daily graph, the MACD histogram columns are starting to cross the 0 mark from the bottom to the top, and the sliding averages are repeating those of December 8, 2018, the date right before the next rally started. At the same time, the RSI indicator has started showing the recovery and confidently surpassed the 30 mark, which proves that traders do have the purchasing power. Always watch out for risk management As a reference: yesterday 50 million USDT came into the market via Binance. This gives us hope that the owner of the funds will start actively buying the foundational cryptocurrency.
Long
by Anton_Bartenev
Altcoin Season: Did It Really Start from XRP?After a fairly difficult week XRP is now showing good growth, having gained more than 8% in USDT and more than 9% in BTC over just a few hours. One of the factors driving this increase is the news of yet another acquisition by Ripple: beginning today, the company is starting to operate in Iceland through the crypto trading firm Algrim which Ripple just bought. Thanks to the emergence of a great motivator, the XRP/USDT buyers were able to break through the strong technical level or resistance of $0.2500. As a result, we are seeing a wave of growth aimed at $0.2650, which is a mirroring level of resistance. The bullish scenario remains the most likely until the XRP/USDT pair returns to under the $0.2500 mark. We expect that this level is where Stop Loss orders for long positions will be placed. Please note that the rate drop to under the level of support of $0.2500 is a very bad sign for buyers. If the price holds above this level, it will increase of the renewed growth to $0.2900. Moving Average 200 at 4H has been acting as a sliding level of both the support and resistance for quite some time. It must be noted that the price tested but could not breach the MA 200 mark. It is important to closely watch the market reactions now since the breakthrough of this level will increase the chances of a continued upwards movement
Long
by Anton_Bartenev
LCT Kept Some Room for Maneuver… downAfter a fairly strong crash of the LTC/USDT pair from $80 to $50, the sellers decided to take a breather. As a result we are observing a continued consolidation in the ever-contracting price range – for the ninth day in a row LTC is holding in a narrow bracket of $50-57. On the trading graph we are seeing the pennant pattern, which is a continuation of the trend. This means that the breach of the lower boundary of the pattern and the technical level of support of $50 may trigger a powerful wave of selloffs. The bearish scenario envisions the rate dropping to the next technical level at the $30 mark. On the other hand, it cannot be excluded that the buyers will try to resume the push for growth to the upper boundary of the descending channel and the mirroring level of resistance of $62. But this scenario remains less likely in the current market mood. We recommend that you do not overlook rick management strategies . The technical indicator RSI came out of the "oversold" zone, which means that buyers are ready to restart the upwards movement. When the resistance level of $59 will finally be broken, it will be the first signal that the buyers are gearing up to overturn the downward trend.
Short
by Anton_Bartenev
1
$90,000 for BTC: an Impartial Look at the SituationOne of the largest German banks Bayerische Landesbank (BayernLB) just published a research paper in which it predicts that in 2020 Bitcoin price will reach $90,000 :) Despite this incredibly optimistic forecast, the BTC/USDT pair is currently holding at a fairly narrow price range about the technical level of support of $7,800. At the same time, Binance Research analysts have noted earlier that the recent Bitcoin crash had to do with the unrealized expectations concerning the bitcoin futures trading on the new platform Bakkt. But since the sellers' activity remains moderate, and no continued decline has followed, it is hard to exclude the next wave of growth. Let us remind our readers that after the breach of the lower boundary of the triangle at D1, not all of the decline potential was exhausted. This is why traders would be wise to take these risks into account and use protective Stop Loss orders . When the price bounces back to above $8,600, it will be a sign that the buyers are ready to take up the growing trend again. Because the price at D1 continues to hover in a narrow flat, it continues to be extremely difficult to gauge the mood in the marketplace. Meanwhile, the technical indicator RSI remains in the oversold zone, signaling the need to restart the growth in the mid-term perspective. Consequently, traders should be closely monitoring the narrow technical level of resistance of $8,400-8,600, the breach of which will be a good signal for buyers whose target is the $9,000 mark. NB: It is important to keep in mind that this period of uncertainty may be just a pause before the subsequent decline. We recommend to enter the market only after the scenarios we described above have come to pass.
by Anton_Bartenev
Istanbul: a new History Cycle or the Demise of the EmpireThe first day of the week ended with an increase in the rate of all the Top 10 cryptocurrencies, including ETH. Today let us take a look at what is going on with Ethereum, if it's actually doing well, and if it is worthwhile to actively buy this coin now. The Istanbul update to the Ethereum network took place ahead of schedule because of the unusually fast block confirmation. As a result, not all miners were able to update their software, which brought about the split in Ropsten testnet. In the meantime, some developers believe that Istanbul will disrupt the operation of 680 smart contracts that manage such decentralized apps as Aragon and Kyber Network. What further aggravates the situation is the Flag pattern that was formed on the 4H graph. The pattern is the continuation of the trend, and if it comes to pass, the price can reach the $155-160 mark. If the lower boundary of the flag is breached, we recommend setting up sell orders in advance. Taking into account all these risks, it would be unwise to count on the speedy ETH/USDT pair growth to the key technical level of resistance of $200-215. At the same time, however, if all these issues are quickly resolved, this could attract the increased attention to ETH on the part of investors and traders.
Short
by Anton_Bartenev
Red is in VogueOn Tuesday September 24 a fairly dramatic cryptocurrency crash took place, as a result of which BTC/USDT pair rate dropped to $7,800, returning to its lowest level since early June of this year. The wave of selloffs started when the technical support level of $9,200–$9,300, which was also the lower boundary of the triangle, was breached. We have discussed this triangle in one of our previous BTC/USDT reviews. Badly hurt were the BitMEX traders, who got “ sheared ” for over $600 million. This means that the market was expecting growth, and those who failed to use stop-loss orders had their positions liquidated. A number of experts link this latest meltdown with the record drop in Bitcoin hash rate , from 98 TH/s to 67 TH/s. Some suggest that the spectacular collapse of the foundational cryptocurrency rate is due to the keenness on the part of certain market players to buy cheap BTC. In this context it is also necessary to recall the weak start of the cryptocurrency platform Bakkt. We will follow their trading volumes closely: they may very easily reveal the party behind the massive selloffs. We will not at all be surprised if the June 2017 scenario is repeated, when the price shot up to the all-time high of $20K over the 4 months of local growth and the sudden escape from the triangle. Many market participants did not miss out on buying on the down trend and replenishing BTC supply in their wallets, as evidenced by this optimistic tweet by Anthony Pompliano. As a result of the market bust the market capitalization dropped by $30 billion, to $212 billion. The Fear & Greed Index rolled back to 15 points , having lost 24 points (or -61%), which signals that the market is in bearish mood. If the market continues to decline, its capitalization may slide to the levels of May 2019, which were in the $160–$170 billion range. In this situation we do not recommend any active moves on the market until the situation becomes clearer.
CRYPTOCAP:TOTAL
by Anton_Bartenev
USDCHF WATCHING for a Sell...D1- Daily ChartDear Investors, First things first: THERE ISN´T A TRADING SIGNAL YET! Currently I´m watching USDCHF ... I would love to see a nice breakout of the red dottet line and than a reversal...OR..a few dominant bearish candles Please find further details on the chart. I´ll keep you updated if I´m entering this one. Hello Worthy Decide. Commit. Succeed. Wealth consists not in having great possessions, but in having few wants. --Epictetus I wish you success! Please support the setup with your likes, comments and by following on Tradingview thanks.
by HelloWorhty