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Jpktraders

BITCOIN - deepening declines!Another week behind us, which turned out to be another week of declines for Bitcoin among others. At the very beginning of last week, we witnessed a huge outflow of capital from the cryptocurrency market. Capitalization dropped almost to 417 billion dollars. From this place a correction occured and now it is over 556.5 billion dollars. Bitcoin's dominance after seven days remained almost the same and it's around 34%. From a technical point of view, BTC creates sequences of ever lower peaks and holes. In the graph from the D1 interval, we can see that the level of 12 000 dollars has not managed to stop the falls. The price went below 9 500 dollars, after which it returned to test 12 000 as resistance. If the day candle closes at the level in which we are, then we will have a signal to continue the declines, which can reach even the level of 7 900 dollars.
BITFINEX:BTCUSDLong
by jpktraders
BITCOIN - Korea messing (with the heads)Due to the fact that coinmarketcap.com in its cryptocurrency price lists excluded prices from South Korean exchanges, there were several key changes. It caused that the average price of each cryptocurrency was falling. The overall market capitalization of cryptocurrencies also dropped. At present, it is less than 683.5 billion dollars. Of which Bitcoin domination is almost 33%. The first nine cryptocurrencies record decreases in the last 24 hours. Bitcoin's price dropped during the week from $ 16,400 to $ 13,300 at the time of writing this analysis. The trend line of the upward trend did not manage to keep the price. It was knocked down and tested giving a signal to short-term players. The key support is the $ 12,000 level. Here you should look for a signal to buy. If this level does not stop the falls, another important support is $ 10,000.
BITFINEX:BTCUSDLong
by jpktraders
BITCOIN - braked on riseIt's been a long time since our last analysis. It was caused by the Christmas break and the break connected with the celebration of the new year 2018. We realize how important it is for you to observe and analyze the situation on the cryptocurrency market, but you should approach this topic in a healthy way, so as not to detach yourself from important moments in your life just to look at the charts every now and then. Most, especially less experienced investors, think that higher intensity, or more transactions and longer time spent analyzing charts, leads to higher profits. Nevertheless, we are back with our standard analyzes starting the first analysis this year from Bitcoin. The capitalization of the entire cryptocurrency market is already over USD 830 billion. We remind you that it was less than 17 billion dollars a year ago. At the moment, Bitcoin's dominance is only 33.8%. This is a fairly poor result. A month ago it was 67.5%. The Btc price in the last 24 hours has been down 1.7%. In the second place in the cryptocurrency ranking is Ripple, followed by Ethereum. Both cryptocurrencies increase over 7% in the last day. From a technical point of view, on the BTC chart we were dealing with a price correction reaching 50% of the Fibo abolition of the growth impulse. The price tested this level 2 times creating a double bottom structure. These were around $ 12,000. Going to a lower time interval, we see that the next barrier to further increases is 17,100 USD. After breaking it on top and test, you will be able to look for a place to buy. The first TP will be $ 20,000. On the daily chart, you can still see the growing trend, therefore we deliberately do not set a place to take a short position. Trend is your friend.
BITFINEX:BTCUSDLong
by jpktraders
Bitcoin trendWe have another week behind us and another increase in the capitalization of cryptocurrencies. Today it's over 594.5 billion USD. In seven days, it increased by approximately 181.5 billion USD. Bitcoin's dominance has dropped to 55.7%. However, the BTC rate in the last 24 hours has increased by over 6%. The Bitcoin price has already reached almost 20,000 USD. As a result, CBOE could enter the futures market. The CME is tomorrow already - a much larger market, also introduces trade in futures contracts. Many financial analysts assume that the introduction of futures trading can mean the green light for new ETF Bitcoin funds. It may turn out that BTC quotes will again reach new ATH. The ETF for Bitcoin would provide investment and commercial opportunities for those who do not want to deal with buying and storing the cryptocurrency directly. Back to the charts - we can see how the price realized the target 161.8% of external Fibo measurement of the last downward correction. It was a place just before the price of 20,000 USD. The potential end of the correction that begins to create may be support at 17,100 USD level. It will be a good place to buy. If the correction is not fulfilled, the next place to buy will be a breakdown and retest from the top level of 20,000 USD. We set the medium-term target at 24 500 USD.
BITFINEX:BTCUSD
by jpktraders
Ethereum - demand rules!The second in ranking cryptocurrency in the last 24 hours lost over 3%, and its capitalization is over USD 65 billion. In four days, we recorded increases reaching the new ATH at 750 USD. Capitalization, on the other hand, reached a surprising level of over 72.5 billion USD. The ETH network exceeded 10 transactions per second, which resulted in a significant number of pending transactions. Looking at the chart, it can be seen that the downward correction started at the point of 261.8% of the internal Fibo abolition of the previous downward correction. While looking at Fibo's measurement of the recent upward trend, it can be noticed that the price reacted to 38.2% level and moved north. If the declines continue, a good place to buy will be the abolition of Fibo 50% coinciding with the support of 576.5 USD. Alternatively, in the case of further increases from the level in which we are now, a good place to buy will be breaking the resistance of 750 USD and its test from above.
BITFINEX:ETHUSDLong
by jpktraders
LTCUSD - how trend is madeLTC is ranked 6th in the ranking of all cryptocurrencies in terms of capitalization. In the last few days we see it growth, while in the last 24 hours its rate has fallen by almost 2%. From a technical point of view, we are still in the growth channel. After an unsuccessful attempt to break from the bottom, the price turned around and given the opportunity to take a long position (support test from the top at 55.5 USD), reached the first target set by us - 71.7 USD. We are now on the resistance from which we already had the first corrective reaction. If the price will go up now and will test this resistance from the top as support already, it will be a good place to buy. Alternatively, if the price falls again, then level 66.5 will be the second place to buy.
BITFINEX:LTCUSD
by jpktraders
BTCUSD - key triangleCapitalization of the cryptocurrency market increased over the week from 199 billion USD to nearly 234 billion USD. Bitcoin dominance increased from 51.5% to 55.7%. Over the last 24 hours BTC rises 0.5%. Bitcoin Cash drops almost 10.5% Looking at the chart from the D1 interval, you can see that the BTC quotes are consolidating in the 8000 area and the place where the impulse ended since the hard fork. Our long-term goal stays unchanged - 8200 USD. Although it is clear that the Bitcoin price will exceed $ 8200 by the end of the year. Based on the external measurement of the correction, which began immediately after the information that SegWit2x was canceled, our target for the end of the year is 9500 USD. Going down the lower interval, you can see how the triangle formed. After leaving it we will be able to use one of our two scenarios. In case of breaking it from the bottom a good place to buy is 7000 USD, especially since the place has not been tested yet. In the case of going up the buy level we have set to the place where the price will test 7775 USD. If the break will be very fast and we break the level of 8200 USD, then its test from the top will also be a good place to buy. It is therefore important to observe and react to the price behavior. When it turns out that we will hit the top on a large volume immediately, then the current long-term target is set at a price of 10450 USD - the range of formation.
BITFINEX:BTCUSDLong
by jpktraders
BTCUSD - fork after forkThis week the markets were told of the SegWit2x process suspension, which was to double the size of the block. Suspension was announced in an email by Mike Belshe. He reported that SegWit2x was suspended due to a lack of consensus on the network. The response to these reports was reaching new peaks by the BTC, and after that a strong correction that continues to this day. Many investors were hoping to get more free coins after another fork. In addition, at present, the Bitcoin network has overdue more than 174,000 unconfirmed transactions with an increase in fees. Capitalization of the cryptocurrencies market has decreased to 199 billion USD, of which BTC's dominance is currently almost 51.5%. It decreased by about 11% within a week. Bitcoin, since 2X suspension has been announced, notes continuous decline in favor of Bitcoin Cash. This can be characterized as one of the largest capital migrations in the cryptocurrencies market. BCH, the alternative Bitcoin cryptocurrency developed in August during the fork, doubled its value within 24 hours after announcing the SegWit2x information. Within two days its value has increased four times. Many speculators have argued that it is Bitcoin Cash that will now be the main bitcoin. At one point, BCH jumped to second place in the cryptocurrencies ranking while for a long time people were debating when Ethereum would become that number one. Vitalik Buterin, creator of ETH, wrote his congratulations on twitter. Coming back to the charts. A week ago, we reported a potential TP of 7775 USD and a possible bigger correction from this level. The end of the correction was set at around 6500 USD. Looking at the graph below you can see that level 7775 was hit, but the correction reached levels much lower than we expected. We arrived to a place from the Bitcoin Gold fork. Our long position from $ 5200 was closed on a stop loss hedge at 7000 USD, generating a profit of 34.6%. It seems that this may already be the end of the correction. This place is a lifting of 50% of the total growth of the impulse ongoin till 15th September. The upward trend is continuing in the long run. Below we present a scenario to join the upswing. Buy after pounding 6350 USD and his test from the top.
BITFINEX:BTCUSDLong
by jpktraders
Expected reaction on support backed by SegWit2xOur last growth scenario was almost perfectly fulfilled. The price tested support at 4.488 and went straight to our designated TP around 6.30. Over the past 24 hours we have been informed that SegWit2x has been canceled which has resulted in altcoins growths. Lisk, the 14th cryptocurrency in terms of capitalization is growing almost 22%. Going back to the chart. If we break the resistance we are currently located at and test it from the top, it will be a good place to look for a buy. We see, however, that the price has a problem with breaking this resistance, the upper shadows of candles testify of it. So if it can not be broken, then another good place to buy is support 5.45.
POLONIEX:LSKUSDLong
by jpktraders
What will stop BitcoinWhole week we watched the Bitcoin rise to new heights. Over the past 24 hours, we have seen growth of almost 3%. Capitalization of the entire crypocurrency market exceeded 200 billion USD, with BTC dominating over 62.5%. In the top ten only Bitcoin and Ethereum Classic record growth, the rest of the cryptocurrencies are falling. We've reached 6200 USD, 6500 USD, 7000 USD and finally 7500 USD. In our latest analysis we have designated a short-term target of $ 6350, which was reached a few hours after the publication of the analysis. Our long position is doing very good and currently SL is set at 7000 USD (buy was from 5200 USD). Let's look how it looks from the D1 interval. Red rectangles indicate the range of growth impulse of the previous fork and predicted the same range that will be reached by the price after BTG. It stands at 7775 USD. From this place we expect correction. You already see the upper shadows which are the first sign that bulls have problems. This correction can reach even 6500 USD. Our long-term target remains unchanged - 8200 USD, that is 261% of Fibo range.
BITFINEX:BTCUSD
by jpktraders
Litecoin - demand needed urgentlyLitecoin over the last 24 hours dropped about 0.5%. It still moves in the growth channel shown in the chart below. We see that support of 55.5 USD heavily defends against falls. This level also coincides with the lower channel limitation. However, getting smaller peaks and smaller growth responses on this support suggest that it may be broken on the bottom. If this happens then we will treat it as a resistance and with the test from below we will look for short positions. Alternatively, you may want to look for local resistance at around 58.5USD and test from above.
BITFINEX:LTCUSD
by jpktraders
Bitcoin is growing fastWe are already after the Bitcoin fork, as a result of which the new cryptocurrency has been created - Bitcoing Gold. Its current price is 135 $ and over the past 24 hours it has grown by almost 23%. The Bitcoin rates after reaching our assumed TP at 6200 $ went into correction phase. We see that the current correction probably ended its decline after achieving the same range as the previous correction (blue rectangles). Today, the capitalization of the entire cryptocurrency market is over 173 billion USD, with Bitcoin's dominance at 56%. The top ten in 24 hours is growing. Interestingly, Bitcoin Cash, like Bitcoin Gold, is growing at over 21.5%. Going back to BTC, we are in the middle of the range of correction and its price fluctuates in the area of 5800 USD. Going to the 30 minute interval, you can see that after a growth impulse from the assumed end of downward correction (5400 USD), the price has drawn a correction in a form of a flag. The range of this formation gives us another level where the price should reach within a few days - 6350 USD. Below scenario to join the growths - buy after breaking the 6200 USD resistance and its test. As you can see during the writing of the analysis, the price has moved upward on a large volume, which gives us confirmation of the direction of growth. In the last analysis we reported one of our long positions. At the moment, it is still in the game, but we have moved our SL from BEP to 5400 USD.
BITFINEX:BTCUSD
by jpktraders
LISK - altcoins up after forkThis week on our tradingview.com profile, we have been reporting an increase on the LSKUSD pair. Triple-tested support at 4.488 led the price up. We had a very strong breakout of 5.45 resistance. If the price will test it from the top, it'll be possible to look for a moment to join the growths. Bitcoin after the fork loses nearly 2.5% in favor of alts. There are clear increases on most altcoins. Lisk is growing almost 23% today. Above scenario for upcoming hours.
POLONIEX:LSKUSD
by jpktraders
Gold fever on BitcoinAfter a week from our last analysis, Bitcoin continues to grow. We have another important week ahead, as we will have another BTC split on Wednesday. The place where the correction ended was at the level of 5200 USD where we moved to the designated TP at 6200 USD. When the BTC rate reached 6,000 USD, not only did it set a new peak, it also made an important milestone, exceeding its capitalization of 100 billion USD. A month ago, the capitalization of the entire cryptocurrency market was only 99 billion USD. At present it is over 170 billion USD and BTC's share in total capitalization is 57.9%. Let's look at the technical picture of the market. Bitcoin rates have been moving in the range of the channel since June, which has so far failed to hit the top. Price after the correction at 5200 USD once again reached its upper limit. The support has been not yet tested at 5,000 USD. The formation of the evening star can be seen in the diagram of the D1 interval. If today's drop candle closes at least 50% of the first candle from this formation, it will be a sales signal. Additional confluence is mentioned above the upper limit of the growth channel and the target reached 161.8% Fibo. Then the possible target spots of its end will be levels of 5400 USD converging with the Fibo fall of 23,6% of growth impulse starting September 15th and surroundings of the lower channel limit market on the chart as the D1 support zone. Alternatively, in the event of breaking the growth channel at the top, the long-term scenario assumes an increase to 8195 USD. But let's focus on the upcoming fork on Wednesday. Let's remember that although Bitcoin Cash and Bitcoin Gold are technical bits of Bitcoin, they do not affect Bitcoin in any way, and they are not a threat to Bitcoin. They simply use (in most cases) Bitcoin and distribute their currency proportionally to all Bitcoin owners.
BITFINEX:BTCUSD
by jpktraders
Ethereum stable after the forkEthereum rates before the Byzantium fork were moving in consolidation. We showed its range in the last analysis. Later the price hit the top and reached the first TP, then completed the purchase scenario testing the upper range of consolidation and re-reached the first expected TP. It was around 350 USD. As we see the price has returned to the scope of consolidation. It seemed that after a major resistance at 315 USD, the price would rise. But that did not happen. Scenarios are therefore still valid as in the last analysis. We added only another level of support that could be an important place to reverse the downtrend, it's the level of 250 USD.
BITFINEX:ETHUSD
by jpktraders