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EOSUSD - 1D Chart AnalysisLike with the rest of the coins, the increase of the total market capitalization and the higher trading volumes than usual, have brought the price of EOS above the 20 days Moving Average on the 8th of February and a bullish trend (on a 1D chart) has begun. This growth of 0.70$ (or 29%) was registered in only 5 days and it was announced on the 8th of February by the Stochastic's "fast" line which went above the "slow" one, showing a change in the price direction would appear, but also by the MACD which departed from the Signal line and stabilized at the top. At this stage, only the MACD seems to be constant in showing that the trend may continue while the rest are showing the opposite, as it follows : * The RSI is 62, closer than before to the "overbought" level of 70 and it's current position is suggesting that the chances to see another aggressive movement in the near future are quite low; * The Stochastic's Moving Averages are both above the level of 80, meaning that the price is considered "overbought" and on top on this, we also have a crossover which is indicating a possible change in the price direction; * The upper standard deviation of the Bollinger Bands has been reached and this is also considered as another "overbought" rating for the price; * On the other hand, the trading volumes are lower for now and we also have to consider the previous 5 failed attempts of the price of going above the level of 3.01$. Based on the actual circumstances, the price has more chances to reach the Pivot Level of 2.67$ in the upcoming days.
BITFINEX:EOSUSD
by ReadBTC
Ultimate '19 Bear Market Target >>$1350 (Bollinger Bands weekly)If you check out the Bollinger bands on the weekly BTC chart, you would see how over extended they become when BTC hits its all-time highs. Using a basic analysis on the Bollinger Bands bottom (lows) at each all time high, gives a very good projection/indication of the lowest price range of BTC in each following bear market. Projecting the above theory to the December 2017 bubble, we can project that the BTC bottom will be around the $1350 price (ranging between $950 and $1755) within the March-May 2019 window . My best guess is a quick shot down to the $1350 target from the $3k levels sometime in late Feb/early March, followed by a swift U-shaped recovery back to the $3k levels in April to begin the new consolidation phase & Bull market...
BITSTAMP:BTCUSD
by Leb_Crypto
5
NEOUSD - 1D Chart AnalysisAfter 24 days of bullish trend, not only that the price of NEO has crossed back the 20 days Moving Average but this trend change has been also confirmed by the red candlestick which was created on the 11th of January. Since then, the price had 2 attempts of crossing the same level again but because of the low trading volumes both attempts were failed. On top of this, the RSI is still on the "neutral" area and as long as the MACD is still below the Signal, we have all the reasons to believe that the following days will not be favorable for NEO. The only indicator which is showing the opposite direction is the Stochastic as long as it's "fast" line has crossed the "slow" one but given the circumstances it would rather show a sideways movement rather than a clear direction. If the trading volumes will remain at the same level, we can consider a target price close to 7$ for the following days.
BITFINEX:NEOUSD
by ReadBTC
BCHUSD - 1D Chart AnalysisOut of the major coins, the one which had the most aggressive price drop was Bitcoin Cash by far. Based on a market capitalization which has decreased significantly, the fundamentals also played an important role and these ones were not good at all. In more than one month, the price of Bitcoin Cash has dropped from 627$ (value which was reached on the 6th of November) to 95$, which is more than 80% and the worries regarding the future of this coin seem to be very relevant. At this stage, also from the technical perspective, the odds doesn't seem to be very favorable at all as long as there is a contradiction between the technical indicators as it follows: - The RSI is 17, meaning that the price is considered "oversold". But this scenario was caught off since the 19th of November and we couldn't see any "bounce back" yet. - The Stochastic is also below the level of 20 since the 17th of November but even if we could see many crossovers since then, none of it signaled any "correction" of the price - Starting with the 9th of December, the MACD has finally "jumped" above the Signal but we could see 2 red candlesticks instead - Even if the ones above are indicating that a price increase may come any time soon, the trading volumes are still very low, meaning that we shouldn't expect for big changes. Overall, the bearish trend which has "officially" started on the 14th of November (once the price has crossed the 20 days Moving Average) seem to last longer and if the trading volumes will remain the same, probably we'll see an attempt of reaching the Pivot Value of 124.26$, followed by another price drop towards the Support Level of 69.19$.
BITSTAMP:BCHUSD
by ReadBTC
BTCUSD - 4h Chart AnalysisAfter a period in which the trend was considered bearish, because the price was between the lower standard deviation of the Bollinger Bands and the 20 days Moving Average, this one has crossed the latter and based on higher trading volumes it created a "break out" from the trend channel and also went through the first Resistance Level of 3463$. From the technical perspective, the indicators are again in contradiction as it follows : * The RSI is 66, meaning that the price is not considered "overbought" yet; * The MACD is still above the Signal, meaning that the price has still more room to increase; * The Stochastic has just registered a crossover, meaning that we might see the price changing it's direction anytime soon. Although the general trend remains Bearish, it is possible to see the price reaching 3600$ in the upcoming hours before the market will continue to drop again.
BITFINEX:BTCUSD
by ReadBTC
XRPUSD - 1D Chart AnalysisAfter 29 days of a bearish trend and a drop of 36%, the price is finally going through a better period and is about to register the 3rd consecutive day of growth. Another important detail is given by the crossover of the 20 days Moving Average meaning that, according to the Bollinger Bands, we are assisting to a trend change which can also be confirmed if the price will finish the day higher than 0.3367$. As we've mentioned on the previous posts, this first candlestick which is fully created after the price has crossed the 20 days Moving Average, can be considered as a very powerful confirmation of the trend. And the easiest way to check it is to follow the chart and to identify the previous similar situations : - On the 5th of November, after the price has "jumped" above the 20 MA, the green candlestick has confirmed the increase which followed; - On the 20th of November, after the price went below the same MA, the red candlestick has confirmed the decrease. Having a look to the technical indicators as well, we can easily identify favorable circumstances for this scenario, as it follows : * The RSI is 48 and it can be considered "neutral". It has managed to recover from the "oversold" position and it has potential go go even higher; * The Stochastic`s crossover from the 16th of December has signaled the uptrend and the distance between the "fast" and the "slow" lines is still big enough. On top of this, there is still more room for the price to increase before the level of 80 will be reached; * The MACD also above the Signal since 2 days ago, meaning that the uptrend has big chances to continue. With the actual trading volumes, it seems that the odds are favorable for the price of Ripple and we have big chances to see the price reaching 0.36$ in the following days.
BITFINEX:XRPUSD
by ReadBTC
ETHUSD - 1D Chart AnalysisBased on the market capitalization which has started to recover from the ground which was lost, the Ethereum also followed the rest of the coins and it's price has increased with 64.21% since the 14th of December (from 82.99$ to 136.28$). The bullish trend has "officially" started on the 18th of December, as soon as the price has crossed the 20 days Moving Average at the value of 109.49$ and in the meantime the price has also reached the upper standard deviation of the Bollinger Bands, meaning that the price got close to the "overbought" area. Looking to the other technical indicators we can see that the RSI is only 61, the Stochastics are above the level of 80 but there is no crossover yet and also the MACD is still above the Signal, meaning that there is still more room for the price to increase. In these circumstances, as long as the trading volumes will remain the same, the next level which can be considered a cautious target price for the following 1-2 days is the Resistance Level 2 at 146.19$.
BITFINEX:ETHUSD
by ReadBTC
ADAUSD - 1D Chart AnalysisSame situation with Cardano. Once the market capitalization has started to recover from the lost ground, it's price has started to increase since the 16th of December from 0.0268$ to 0.0430$ and has registered an growth of 60.44% until now. But the beginning of the bullish trend was registered on the 17th of December, once the price has crossed the 20 days Moving Average at the value of 0.0334$. From the technical perspective, we have some contradictions as it follows : * the upper standard deviation of the Bollinger Bands has been reached, meaning that the price is in the "overbought"" area and a "correction" may come anytime soon; * on the 21st of December, the price has finished the day at the same value where it started and it has created a Doji candlestick. Usually, the Doji candlesticks are indicating the market's indecision and a possible trend change. It wasn't the case here. * the Stochastic is close to 80 but there is no crossover yet, meaning there are some chances to see a slight continuation of the uptrend; * the RSI has recovered from the level of 28 in the last days but is only 61 now, meaning that the increase can go on; * the trading volumes are not at the same level as 2 days ago but are still increasing; * the MACD is still above the Signal, meaning that there is still more room for the price to continue it's growth. In these circumstances, there are reasons to believe that the market is getting close to the area in which it will start to slow down. This Slow down can be defined in 2 different ways : 1. If the trading volumes will remain the same as in the last 2 days, the price has big chances to get close to the first Resistance of 0.0492$ and then to go down to 0.0399$ which is the Pivot Level (the average price) 2. If the trading volumes will increase, we might see a slow down of the market for a couple of days, followed by another rally.
BITTREX:ADAUSD
by ReadBTC
EOSUSD - 1D Chart AnalysisLike the rest of the coins, EOS managed to recover some of the losses in the last 10 days, with it's price being stimulated by the total market capitalization which seem to go through slight recovery process, at least for the moment. The Bearish trend of EOS has started on the 13th of November and in more than one month, the price has dropped from 5.46$ to 1.56$, meaning a decrease of 72.42 %. But on the 17th of December, after 2 days in which the trading volumes have been increased, the price has crossed the 20 days Moving Average and the bullish trend has started. The latter was also confirmed one day later, once the first candlestick fully created above the 20 MA was a green one. The contradiction between the technical indicators is also similar to other coins, as it follows : * The RSI has gone above the "neutral" area but it hasn't reached the "overbought" one yet; * The Stochastic has an "overbought" position but during the last few days it's crossovers didn't announce big movements; * The MACD is still above the Signal, meaning that the increase is not over yet; * The upped standard deviation of the Bollinger Bands has been reached, meaning that the price is "overbought". In the past, whenever we could see similar contradictions, these ones have announced a slow down of the trend. In these circumstances, we can say that the price of EOS has some chances to break the resistance level of 3.09 and also to get close to the level of 3.48$ supported as well by the similar trading volumes. But overall, the long term trend remains bearish and it seems that the price is only searching for another "peak" before it will start to go down again.
BINANCE:EOSUSD
by ReadBTC
ETHUSD - 1D Chart AnalysisOn the 14th of November, the Ethereum's price has started to decrease aggressively based on the massive sell-offs and it has also crossed the 20 days Moving Average, which from the technical perspective represented the beginning of a bearish trend. It's important to notice that this trend change has been clearly signaled by 2 technical indicators : * The "fast" line of the Stochastic has bounced back from the level of 55, showing a change of the price direction; * The MACD went below the Signal, confirming the trend which was about to start. Another important day was the 18th of December when the price has crossed back the 20 days Moving Average and the bullish trend has started. Like on the previous time, this crossover was signaled in advance by the same 2 technical indicators. Today, Ethereum is traded around the Pivot Level which represents the average price for this interval. But from the technical perspective, there are 4 reasons to consider a possible retrace of the price, as it follows : * The Stochastic has registered a "Crossover" on the 6th of January and the price has started to decrease slowly since then; * The MACD is about to go below the Signal, showing the possibility of another bearish trend to begin; * The trading volumes are decreasing; * Based on the principle according to which any aggressive "impulse" of the price is followed by a "correction" of around 45%, we can expect Ethereum to drop with another 32$. If this scenario will get caught off, we can consider a target price of around 120$ for the following days.
BITFINEX:ETHUSD
by ReadBTC
LTCUSD - 1D Chart AnalysisAlthough in the last month the price of Litecoin has increased with almost 39% and it managed to recover from the losses registered in November, it seems that the odds have been favorable only temporary. After 25 days in which the price has been traded above the 20 days Moving Average, the latter has been crossed meaning that a Bearish trend is about to begin. The first day of this new trend can be considered the 11th of January, day in which we can identify 2 reasons to believe that the market will drop: * The MACD has crossed the Signal, indicating the price decrease; * The first candlestick which was fully created after the price has crossed the 20 days MA is red and it can be considered as a confirmation of the trend change. On the other hand, the RSI is "neutral" and even if the Stochastic is getting close to the region of 20, it's "fast" line is still below the "slow" one and there is no change in the price direction which is shown at this stage. Considering also the trading volumes which are quite low, it is possible to see the price of Litecoin starting to move sideways for a couple of days, period which will be followed by another drop. In these circumstances, the target prices which can be considered for the next couple of days are 29.18$ and 25.67$ in extension.
BITFINEX:LTCUSD
by ReadBTC
TRXUSD - 1D Chart AnalysisAlthough most of the cryptocurrencies have experienced oscillating developments over the last few weeks, caused mainly by the decline of the market capitalization, TRON seems to be one of the ones which had trading volumes above the average and it also managed to recover the losses registered in November. Therefore, the bullish trend which has started on the 17th of December continued with the price which crossed the 20 days Moving Average and remained between it and the upper standard deviation of the Bollinger Bands until today. At this stage, we have a contradiction of the technical indicators as it follows: * The RSI at the level of 70, meaning that the price is considered "overbought' and it can have a correction anytime soon. * On the other hand, the Stochastic is between the "neutral" area and the "overbought" one but the "fast" line is still above the "slow" one and there are no reasons to expect a trend change, at least for now. * The MACD has indicated the increase on the 4th of January and it's position is still about the Signal, meaning that the growth has big chances to continue. What is important to know is that all these 3 indicators had similar positions on the 23rd of December, day in which the price has started to move sideways for 11 days, period which was followed by another increase. If the market will follow the same pattern, a target price which can be considered realistic is 0.0274$.
BINANCE:TRXUSD
by ReadBTC
BTCUSD - 1D Chart AnalysisAfter 11 days of sideways movements, the price of Bitcoin has started the year with the right foot and it had a progress of 4.97% so far. The bullish trend has started on the 18th of December(on a 1D chart) and since then we could see 4 attempts of the price to cross back the 20 days Moving Average but all 4 were failed. At this stage, the RSI is 51 so it can be considered "neutral", the Stochastic is close to have a crossover which will indicate a possible continuation of the uptrend, while the MACD is still above the Signal and it can be considered as a confirmation of this scenario. Considering the trading volumes as well, we have to admit that these ones had better days in the past and any movement we are expecting it should't be to big. Without any big fundamentals, there are big chances to see the price getting close to the Resistance Level 1 of 4283$ in the following days.
BITFINEX:BTCUSD
by ReadBTC
LTCUSD - 1D Chart AnalysisAs we already know from the previous months, the aggressive movements of the prices are followed by some long intervals in which the movements are sideways but not necessarily big enough to be considered short term investing opportunities. Overall, we can see how the bearish trend has started on the 10th of November once the price has crossed the 20 days Moving Average and since then it also had two slight attempts to return but both have failed. From the technical perspective, the RSI and the Stochastic have "oversold" positions already for some time and the MACD has just registered a slight cross over the Signal. But maybe it is too early to consider a "correction" of the price, like the one between the 25th of November and the 2nd of December, as the trading volumes are still very low. If the fundamentals aspects will delay to appear, the chances for the price to "test" the level of 20$ are considerably increasing
BITFINEX:LTCUSD
by ReadBTC
IOTAUSD - 1D Chart AnalysisIota is also one of the crypto currencies which has the price in the "middle" and like the rest, it's price has dropped starting with the 13th of November being influenced by the massive decrease of the market capitalization and since then it has started a sideways movement. At this stage, it is traded below the Pivot Level (average price) for 1 week and as long as the trading volumes will remain the same, the chances to see a big change in the price movement are quite low. From the technical perspective, the Stochastic is very close to the level of 20 but the %K (blue line) seems to be about to cross the %D (red line), indicating a slight drop of the price. On the other hand, the RSI is 29 and it's position is indicating a possible increase of the price, confirmed as well by the MACD as long as the latter has just crossed the Signal. Having this contradiction between the technical indicators we can expect another short period of time in which the price has big chances to move sideways, close to the Pivot's value. If the trading volumes will remain at the same level, the awaited "correction" of the price can last longer and a possible target price can be 0.2059$.
BINANCE:IOTAUSD
by ReadBTC
XLMUSD - 1D Chart AnalysisAs with other crypt coins, although we have seen a slight "correction" over the last few days, it seems that the bearish trend of Stellar which has started on the 19th of November is "here to stay". This is due to the price which is still between the 20 days Moving Average and the lower standard deviation of Bollinger Bands and seems to have a considerable distance to recover until this indicator will show the opposite. On the short term, we can observe some very low price fluctuations due to the decrease of the trading volumes and also of the technical indicators which are in contradiction as it follows: - The Stochastic has registered a crossover on the 7th of December, indicating the slight increase which we could see in the days after, but another crossover that shows the opposite may be seen anytime soon. - The RSI is 28 and is also indicating an "oversold" position which can be followed by another price increase but this scenario could be seen starting with the 4th of December and the price changes were not impressive; - On the other hand, the MACD is still below the Signal and in line with this indicator, the price can go even lower. At this point, it seems that we have two possible scenarios: 1.We will be able to see the MACD crossing the Signal, which would be considered as a confirmation of a possible short term uprend, supported as well by the RSI and the Stochastic. In this case, we can consider the "Buy" positions with a possible target price around 0.1550$ which is also the first Resistance Level. 2.If the MACD remains below the Signal , we may consider that the RSI and the Stochastic are indicating more a slow down of the price movemets rather than an increase and this period will be followed by another drop. For this scenario, we can consider $ 0.0918$ as possible target price, which is also the first Support Level.
BITFINEX:XLMUSD
by ReadBTC
1
XRPUSD - 1D Chart AnalysisLike most of the Coins, Ripple also went through a "dark" period starting with the 19th of November which was followed by sideways movements in the last 10 days. In this short interval, we could see the price having a daily moving average of 8.79% (or 0.0312$) and the levels where it had difficulties in advancing were 0.3986 (Resistance Level) and 0.3458 (Support Level 1). Even if the RSI is "testing" the "oversold" area, followed by the Stochastic's crossovers which we could see often in the last days, the MACD is still below the Signal meaning that there is more room for the price to decrease. So we have a contradiction! At this stage, with the trading volumes which are decreasing, we can "officially" say that the market has slowed down and it's still undecided while this scenario can be described as one in which the price is "in the middle". The traders with experience might say that the "patience" is a virtue now. In these circumstances, the optimists can consider the Resistance Level of 0.39864$ as the next target price, while the pessimists will notice that the price is still between the 20 days Moving Average and the lower standard deviation of the Bollinger Bands, meaning that it can go even lower. As a possible target price for this second scenario, we can consider the Support Level of 0.3104$.
BITFINEX:XRPUSD
by ReadBTC
ETHUSD - 1D Chart AnalysisFollowing the aggressive movements when the whole market has dropped, the price of Ethereum has started it's sideways movements since the 23rd of November. The Pivot Level (or the average price) for this interval is 116.88 and at this stage the coin is traded nearly below it. Considering the RSI's level of 29 (oversold), the Stockastic's crossover below the level of 20 and the MACD which has just crossed the Signal, it is possible to see the price having a slight increase at least above the Pivot with a possible target price of 13.73$ in extension. But the expectations shouldn't be that high as long as the trading volumes are quite low and a 19$ movement of the price was not registered since the 25th of November.
BITFINEX:ETHUSD
by ReadBTC
BCHUSD - 1D Chart AnalysisAfter the big drop of the market capitalization and negative fundamentals, the price of Bitcoin Cash also had an aggressive movement and became one of the coins which are leading the drop. Looking at the chart, we can easily compare the current decrease of the price with the ones we could see the US Stocks having in the middle of the previous financial crisis. Well, it's obviously that we have a bearish market as long as the current price it's almost 48% lower compared to it's last "peak" but the technical indicators are a bit in contradiction as it follows: * We have 2 indicators which are showing that the price has reached the "oversold" area : -The RSI is 27; -Stochastic's crossover below the level of 20. * And another 2 indicators which are shoring that there is still more room for the regress to continue: -The price didn't reach the lower standard deviation of the Bollinger Band which can also be considered as a Support Level, meaning that it should't have any difficulty in going even lower; -The MACD is still below the Signal, meaning that there is no reason to believe that the price will change it's direction very soon. At this stage, if the price will follow the same pattern as in the interval 15th-18th of November, we can expect it to have some sideways movements before it will drop again, with the possible target price at 315$.
POLONIEX:BCHUSD
by ReadBTC
BTCUSD - 1M Chart AnalysisAfter the market capitalization has been decreased a lot, the prices of the major coins have dropped aggressively with Bitcoin breaking the previous "bottom" and reaching the Support Level of 4295$. Well, the price decrease of almost 29% since the beginning of the month has made a lot of people to be confused about the future of the crypto currencies. We can easily describe this moment like one in which we have to admit that the market will remain unpredictable regardless the level of expertise we have. At this stage, the RSI on a 1M chart is moving away from the "neutral" area (registering the level of 47) while the Stochastic's crossover didn't occur yet. Also the MACD is still below the Signal line which means that there is still more room for the price to go even lower. But what's the most important aspect is the red candlestick which has big chances to be fully created below the 20 days Moving Average if the price will not end up the month higher than 6377$ at least. And like we've mentioned on the previous posts, this red candlestick can be considered as a confirmation of the bearish trend, meaning that the next Support Level of 2045$ can be a possible target in the future. Of course, if the positive news will start to come and it will bring higher trading volumes, the situation can change and the price will have chances to go again above the Resistance Level of 6641$. "Hoddlers", let's pray harder! :)
BITFINEX:BTCUSD
by ReadBTC
ETHUSD - 1D Chart AnalysisBased on a trading volume which is constantly decreasing, the price of Ethereum has dropped with 11.17% so far, just like all of the major crypto currencies. For now, there are 3 indicators which have registered "oversold" positions and are indicating a possible "correction" of the price : * The RSI is 23; * The lower standard deviation of the Bollinger Bands is reached; * Both MA of the Stochastic are below the level of 20, awaiting for a crossover which will indicate that the price may change it's direction. However, as long as the trading volumes will continue the decrease and also the MACD line will stay below the Signal one, an advanced reading of the chart will be the one in which the we consider that the RSI, the Stochastic and the Bollinger Bands are indicating just a short term slow down of the price (or sideways movement), followed by a continuation of the drop. As a possible target price we can consider the Support Level 1 of 145$.
BITFINEX:ETHUSD
by ReadBTC
BTCUSD - 1D Chart AnalysisExcepting the 15th of October when the price of Bitcoin has registered a "spike", reaching the level of 7803$ and having also a quick retrace, we could see a long period of 67 days when this one has oscillated between the minimum of 6119$ and the maximum of 6896$, with many traders who rushed with their optimist scenarios. And here we are, finding ourselves in front of the 3rd consecutive day of dropping after the price of Bitcoin has offered us a surprise, but different than the one we were expecting. More precisely, the latter recorded a new minimum for this year after the previous one of 5835$ was set on the 28th of June. Now, even if most of the oscillators are indicating "oversold" positions and we can consider somehow normal a "correction" after a drop in price of almost 1000$, there are 2 indicators which are showing a possible scenario in which the price may continue the drop as it follows : * The Stochastic's crossover on the 13th of this month indicated the price decrease which we could see, but the "oversold" area was not reached yet. * The MACD which also gave us a clue about the "break down", has it's line still below the Signal one, meaning that the "correction" may be delayed. At this stage, a target price of 5974$ can be considered realistic for the medium term, but this doesn't mean that it has no change to reach 5486$ before.
BITFINEX:BTCUSD
by ReadBTC
XRPUSD - 1D Chart Analysis Like most of the cryptocurrencies, Ripple was also affected by the drop in the market capitalization we could see today, losing 9.83% of it's value so far. Based on this higher volatility, we could see the price crossing the 20 days Moving Average and ending the 10 days interval in which the trend was bullish. At this stage, the RSI is heading slowly towards the "oversold" area, the Stochastic is confirming the drop, while the MACD is about to cross the Signal indicating that the price decrease has not ended. If the this scenario which is based on these technical indicators will get caught of, the next target price can be considered 0.4504$ and even 0.4219$ in extension.
BINANCE:XRPUSD
by ReadBTC