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Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 26

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

While various cryptocurrencies are vying to attract investors attention, stablecoins have silently gained popularity. Currently, most stablecoins are pegged to the U.S. dollar. United Kingdom-based cryptocurrency payment processor Wirex has announced plans to launch stablecoins pegged to various fiat currencies. This, according to them, will allow “for swift, international remittance without the need for local liquidity providers.”

Many projects are focused on ironing out issues in cross-border payments using blockchain technology. A prominent name among them is JPMorgan Chase (JPM), which has been able to attract more than 220 banks across the globe to its Interbank Information Network (IIN). JPM is working towards a quick resolution of the problems associated with international payments that get stuck.

Around 20 of the biggest traders in the crypto market met in January to discuss the steps needed to make the asset class more attractive to institutional investors. The next leg of growth will need the involvement of institutional players, but some institutions are still skeptical due to the stigma attached to the asset class. However, if cryptocurrencies show a sustained recovery, many will be forced to take the plunge.

BTC/USD

Bitcoin (BTC) is facing selling on a rebound from the 20-day EMA. This suggests profit booking by the bulls and probable short initiation by the bears. If the price slides below the 20-day EMA, it will indicate weakness and a fall to $4,914.11 will be on the cards. This is a major support. If this breaks down, the next stop is the 50-day SMA.

If the bulls defend the support zone between the 20-day EMA and $4,914.11, the BTC/USD pair will again try to resume its up move. The levels to watch on the upside are $5,600 and above it $5,900. We expect a strong resistance in this overhead zone. Hence, we recommended closing partial positions above $5,600 in our previous analysis.

Until then, the stop loss on the remaining long positions can be kept at $4,800. The pair is giving mixed signals. While the uptrending moving averages and the RSI in the positive territory are bullish, the developing negative divergence on the RSI is a red flag. The next few days are critical for the leading digital currency.

ETH/USD

Ethereum (ETH) plunged below the 50-day SMA on April 25 and hit our stop loss on the remaining long positions at $150. Nonetheless, we like the way the bulls are attempting to bounce off the 50-day SMA. If they succeed in propelling the price back above $167.32, it will indicate that the current fall was a bear trap.

But if the ETH/USD pair fails to scale above $167.32, the bears will again try to break down of the 50-day SMA. If successful, the pair can decline to $144.78 and below it a drop to the trendline of the ascending triangle pattern is probable.

The 20-day EMA has started to turn down and the RSI has dipped below 50. This suggests that the bears are staging a comeback. We will wait for the price to sustain above $167.32 before turning positive once again.

XRP/USD

Ripple (XRP) has plummeted back into the channel and has dropped to the critical support of $0.27795. If this support breaks down, the next stop is the retest of the yearly low at $0.24508.

The moving averages have completed a bearish crossover and the RSI is close to the oversold levels. Though these are negative signals, we will disregard them because the XRP/USD pair is range bound.

The best way to trade in a range is to buy close to the bottom and sell at the resistance, but we suggest traders avoid buying now because the pair has been a huge underperformer in the past few days. This suggests a lack of buying interest.

Our bearish bias will prove to be incorrect if the digital currency bounces off sharply from the current levels and rises above the channel once again. We do not find any reliable buy setups at the current levels.

BCH/USD

Bitcoin Cash (BCH) is trying to hold the critical support zone between $255 and $241.97. If this zone breaks down a fall to the 50-day SMA is probable. Below this level, the digital currency can complete a 100% retracement of the recent rally.

If the bulls defend the support zone and secure a strong bounce from it, the BCH/USD pair might remain range bound for a few days. The pair is at a critical level. As the pair has a history of vertical rallies and waterfall declines, we will wait for a buy setup to form before suggesting a long position in it.

LTC/USD

Litecoin (LTC) has been taking support at the 50-day SMA for the past two days. Both the moving averages have flattened out and the RSI is just below the midpoint. This points to a consolidation in the near term.

Currently, the bears are facing selling at the 20-day EMA and the resistance line of the descending channel. If the LTC/USD pair breaks out of the channel, it can move up to $84.3439 and above it to $91.

On the contrary, if the bears sink the pair below the 50-day SMA, it can drop to $62.450. A breakdown of this support will turn the tide in favor of the bears. We will wait for the digital currency to form a bullish setup before suggesting a long position.

EOS/USD

EOS is trying to take support at the 50-day SMA. The uptrend line of the rising wedge and the horizontal support of $4.4930 are also just below this level. Hence, we expect a strong defense by the bulls.

However, the 20-day EMA is sloping down and the RSI is in the negative territory, which shows that the bears are back in action. A breakdown of the wedge will be bearish and it has a pattern target of $2.80.

On the upside, a breakout of the 20-day EMA and the downtrend line will indicate strength. The targets on the upside are $5.6163 and above it $6.0726. We shall wait for the EOS/USD pair to sustain above the downtrend line before turning positive.

BNB/USD

Binance Coin (BNB) is in a strong uptrend. It has again bounced off the 20-day EMA, which shows that the buyers are keen to support it on any dip. The bulls will again try to make a new high. On the previous three occasions, the price turned down from the resistance line. Hence, this is a major resistance to watch out for. If the cryptocurrency breaks out of the wedge, it will invalidate a bearish pattern, which is a bullish sign.

But if the BNB/USD pair fails to rise to new highs or sustain it, the bears will again try to pull it back to the 20-day EMA. The pair remains strong as long as it stays above the uptrend line of the wedge. A breakdown of the wedge will be the first warning that a deeper correction is likely.

For now, both the moving averages are trending up and the RSI is also in the positive territory. This suggests that the path of least resistance is to the upside. We will wait for the price to sustain new highs before suggesting a long position.

XLM/USD

Stellar (XLM) broke below the uptrend line of the rising wedge pattern on April 25. This is a negative sign but the bulls are making an attempt to push the price back into the wedge. On the upside, they will face a stiff resistance at the moving averages and above it at $0.12039489.

If the XLM/USD pair fails to sustain above the uptrend line, it might turn down once again and break below the wedge. This will give it an immediate target of $0.080. The moving averages are on the verge of completing a bearish crossover, which shows that the bears are in command. We suggest traders wait for the pair to show some strength before initiating any long positions.

ADA/USD

Cardano (ADA) continues to trade inside the descending channel. It has dipped to the 50-day SMA, which is a strong support. Though the bulls have managed to hold on to this level, they have not been able to secure a bounce. This shows a lack of urgency to buy at these levels.

The 20-day EMA has started to turn down and the RSI has dropped into the negative zone. If the support zone between the 50-day SMA and $0.063230 breaks down, it will indicate that the bears have the upper hand.

A breakout of the descending channel will be the first positive that can carry the ADA/USD pair to $0.082952. We will wait for the price to scale $0.094256 to turn positive. Currently, we are neutral on the pair.

TRX/USD

Tron (TRX) is trying to bounce off the support at $0.02094452. It is likely to face some resistance at the moving averages, above which it can move up to $0.02815521. The bulls have managed to push the price above $0.02815521 thrice in this year but they have not been able to sustain the breakout. This shows selling at higher levels. The digital currency might pick up momentum above $0.03278079.

On the other hand, if the TRX/USD pair fails to break out of the moving averages, the bears might again try to break down below $0.02094452. The next support on the downside is $0.01830, which is likely to hold. We will wait for the price to break out and sustain above the range before suggesting a trade in it.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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First Since 2017: Bitcoin Price Logs Double-Digit Gains for Third Week

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  • Bitcoin has recorded double-digit gains for three consecutive weeks, a feat last seen during the height of the bull market in 2017.
  • BTC’s quick recovery from Friday’s low of $6,178 indicates “buy the dip” mentality is quite strong. Further, the daily and weekly charts are biased bullish. Prices, therefore, could rise to $8,500 (July 2018) this week.
  • Before such a rise, however, we may see a correction to $7,500–$7,200, according to the hourly chart.
  • The short-term outlook would turn bearish only if prices find acceptance below the 30-day moving average, currently at $6,239.

Bitcoin (BTC) is looking strong, having registered double digit gains for three consecutive weeks.

The leading cryptocurrency by market value closed last week with 17.5 percent gains, having rallied 22.16 percent and 10.62 percent in the preceding two weeks, respectively, according to Bitstamp data.

The last time BTC witnessed a similar bullish run was in the final quarter of 2017, when the cryptocurrency had logged in double digit gains for five weeks straight to hit an all-time high of around $20,000 on Dec. 17.

The latest weekly winning streak could be extended further, as BTC’s quick recovery from Friday’s lows below $6,100 to a high of $8,299 on Sunday indicates a strong “buy the dip” mentality.

As of writing, BTC is changing hands at $7,903, representing a 1.36 percent drop on the day.

Other top cryptocurrencies like ether (ETH), litecoin (LTC), binance coin (BNB) and XRP are also reporting moderate losses, according to CoinMarketCap.

Weekly Chart

As can be seen, BTC has logged its first three week run of double digit gains since December 2017.

Notably, prices bounced up sharply from the 5-week moving average (MA) last week and closed on a positive note, reinforcing the bullish view put forward by that ascending average.

There have also been two bullish crossovers in the last week: one of the 5- and 100-week MAs, and another of the 10- and 50-week MAs, suggesting the path of least resistance is to the higher side.

What’s more, BTC closed well above September 2018 high of $7,411 last week. The cryptocurrency, therefore, appears on track to test the next resistance at $8,500 (July 2018 high).

Daily chart

Bitcoin closed with nearly 13 percent gains on Sunday, marking a strong follow-through to the dip demand highlighted by Friday’s long-tailed daily candle.

The short-term outlook, therefore, remains bullish with scope for a rally to $8,500, as suggested by the weekly chart.

Confirming the bullish case is the positive reading on the Chaikin money flow (CMF) index, indicating increasing buying pressure. Further, the 10-day moving average (MA) is also trending north in favor of the bulls.

The outlook as per the daily chart would turn bearish only if and when the price finds acceptance below the 30-day MA, currently at $6,239. That average resistance was breached with a high-volume rally upside move on Feb. 8 and has reversed pullbacks ever since.

While the weekly and daily charts are biased bullish, the short duration view below indicates a pullback to $7,500 may be in order before a rally to $8,500.

Hourly chart

On the hourly chart, BTC is currently trading above the head-and-shoulders neckline of $7,848, having dived out of a rising wedge – a bearish reversal pattern – in the Asian trading hours.

A head-and-shoulders breakdown would be confirmed if prices drop below $7,848, opening doors for a deeper correction to the $7,500–$7,200 support zone.

That said, with the longer duration charts biased bullish, any dips to $7,500 or below will likely be short-lived.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; technical charts by Trading View

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TRON Price Prediction Today: Daily (TRX) Value Forecast – May 20

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Tron-Surpasses-1-Billion-In-Trading-Volume-Reaching-New-Highs-In-Over-12-Months

Tron-Surpasses-1-Billion-In-Trading-Volume-Reaching-New-Highs-In-Over-12-Months

  • The short and medium-term outlook is in a bearish trend.
  • Traders may consider selling at key areas.

TRX/USD Medium-term Trend: Bearish

• Supply zones: $0.04000, $0.05000, $0.06000
• Demand zones: $0.01000, $0.00900, $0.00800

TRON is in a bearish trend in its medium-term outlook. After bullish exhaustion at $0.03319 in the supply area, the bears took control of the market. The cryptocurrency is in an ascending channel a correction pattern for downward price continuation.

The bulls manage a push to $0.02880 as the high of yesterday market before exhaustion and the bears stage a return.

The bearish 4-hour opening candle at $0.02830 sustained the bearish momentum with the cryptocurrency down at $0.02703 in the demand area.

The stochastic oscillator signal points down at 47% while price is between the two EMAs. These suggest downward momentum with more candle opened and closed below the two EMAs due to increased pressure by the bears.

$0.02655 in the lower line of the channel and a subsequent break may occur in the medium-term.

TRX/USD Short-term Trend: Bearish

The cryptocurrency is in a bearish trend in its short-term outlook. The double-top10 formation at $0.02870 in the supply area favour the bears in the short-term. Confirmation to the downward movement occurred at the bread of the two EMAs by the large bearish candle at$0.02830.

TRXUSD is currently down at $0.02697 in the demand area with $0.02550 in the demand area is the initial bears’ target. This was confirmed by the signal of the stochastic pointing down at % in the oversold region coupled with price below the two EMAs.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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Game Changer for Bitcoin? VanEck ETF Decision Tomorrow –  All You Need to Know

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One of the events the entire cryptocurrency community has its sights turned to is the VanEck/SolidX Bitcoin ETF proposal. It was published in the Federal Register back on February 20th, giving the SEC a legal timeframe of 90 days to make a further decision. This means that the Commission must come up with a decision tomorrow, May 21st.

May 21st – An Important Date for Bitcoin

The saga around VanEck/SolidX Bitcoin ETF proposal has been going on for quite a while now. Last year, their application was withdrawn after being delayed on multiple occasions by the US Securities and Exchange Commission (SEC). However, shortly after that, the application was submitted again, reigniting hope among those who believe that a Bitcoin ETF would catalyze a further increase in the price of the cryptocurrency, as well as further adoption.

The new application was filed with the Federal Register on February 20th, giving the SEC a binding term of 90 days to come up with a decision to approve, deny, or delay it. Interestingly enough, another Bitcoin ETF application was also filed with the Register on February 15th – that of Bitwise. The SEC delayed its decision on the latter, while even deciding to use the full 90 days term to make up its mind on the application of VanEck and SolidX. This is why May 21st is an important date to expect.

According to famous legal expert among the cryptocurrency community, Jake Chervinsky, however, the chances of a delay or denial are much higher than the chances of approval.

He bases his merit on the fact that the SEC is unlikely to approve the first-ever Bitcoin ETF without taking the full 240 days period that it legally can. Moreover, he also finds it rather unusual that the Commission didn’t delay the VanEck Bitcoin ETF together with that of Bitwise.

The lawyer also cited some of the reasons for the delay of the application of Bitwise, which include:

  • The nature of the market for Bitcoin
  • The efficiency of that market
  • The susceptibility of that market to manipulation
  • How the market is similar to markets for other commodities
  • Reports that a large percentage of reported volume is fake

Chervinsky pointed out that if VanEck has any chance of approval, then the SEC “would need to delay & aks all these same questions to them as well.”

What Does This Mean For Bitcoin?

While it’s anyone’s guess how a potential approval of a Bitcoin ETF would impact Bitcoin’s price and whether it would surge, the majority of the cryptocurrency community is undoubtedly sure of it.

According to Josh Roger, a well-known cryptocurrency trader and investor, the different scenarios will have different impacts on the price.

The upcoming VanEck ETF decision could certainly have a serious impact on BTC price.

Denial = Pull back the current price regardless of how good it looked this weekend.

Approval = push the price to new yearly high and create mass FOMO buying.

Delay = Expected & likely little change.

Be the first to know about our price analysis, crypto news and trading tips: Follow us on Telegram or subscribe to our weekly newsletter.


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Game Changer for Bitcoin? VanEck ETF Decision Tomorrow –  All You Need to Know

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One of the events the entire cryptocurrency community has its sights turned to is the VanEck/SolidX Bitcoin ETF proposal. It was published in the Federal Register back on February 20th, giving the SEC a legal timeframe of 90 days to make a further decision. This means that the Commission must come up with a decision tomorrow, May 21st.

May 21st – An Important Date for Bitcoin

The saga around VanEck/SolidX Bitcoin ETF proposal has been going on for quite a while now. Last year, their application was withdrawn after being delayed on multiple occasions by the US Securities and Exchange Commission (SEC). However, shortly after that, the application was submitted again, reigniting hope among those who believe that a Bitcoin ETF would catalyze a further increase in the price of the cryptocurrency, as well as further adoption.

The new application was filed with the Federal Register on February 20th, giving the SEC a binding term of 90 days to come up with a decision to approve, deny, or delay it. Interestingly enough, another Bitcoin ETF application was also filed with the Register on February 15th – that of Bitwise. The SEC delayed its decision on the latter, while even deciding to use the full 90 days term to make up its mind on the application of VanEck and SolidX. This is why May 21st is an important date to expect.

According to famous legal expert among the cryptocurrency community, Jake Chervinsky, however, the chances of a delay or denial are much higher than the chances of approval.

He bases his merit on the fact that the SEC is unlikely to approve the first-ever Bitcoin ETF without taking the full 240 days period that it legally can. Moreover, he also finds it rather unusual that the Commission didn’t delay the VanEck Bitcoin ETF together with that of Bitwise.

The lawyer also cited some of the reasons for the delay of the application of Bitwise, which include:

  • The nature of the market for Bitcoin
  • The efficiency of that market
  • The susceptibility of that market to manipulation
  • How the market is similar to markets for other commodities
  • Reports that a large percentage of reported volume is fake

Chervinsky pointed out that if VanEck has any chance of approval, then the SEC “would need to delay & aks all these same questions to them as well.”

What Does This Mean For Bitcoin?

While it’s anyone’s guess how a potential approval of a Bitcoin ETF would impact Bitcoin’s price and whether it would surge, the majority of the cryptocurrency community is undoubtedly sure of it.

According to Josh Roger, a well-known cryptocurrency trader and investor, the different scenarios will have different impacts on the price.

The upcoming VanEck ETF decision could certainly have a serious impact on BTC price.

Denial = Pull back the current price regardless of how good it looked this weekend.

Approval = push the price to new yearly high and create mass FOMO buying.

Delay = Expected & likely little change.

Be the first to know about our price analysis, crypto news and trading tips: Follow us on Telegram or subscribe to our weekly newsletter.


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PSA: Bitconnect ‘2.0’ Triggers Countdown to Resurrect Greatest Crypto Ponzi Ever

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By CCN: In 2016 a cryptocurrency project named BitConnect came along offering 1% daily compounded interest for those who purchased and staked its token.

When the BitConnect (BCC) bubble inevitably burst, the owners, as expected, made off everyone’s money. The BCC token price sunk by 99.9%, and a previously $2.5 billion valued project became worthless.

Now, the greatest scam ever sold is back. Enter BitConnect 2.0.

Hey, Hey, Hey: BitConnect 2.0 Arrives for a Second Bite at the Cherry

A website and Twitter profile advertising the arrival of BitConnect 2.0 appeared in the last few days. The website shows a countdown to the rebirth of one of the worst cryptocurrency scams of all time.

Bitconnect countdown

The Twitter profile contains just two posts – one is a link to the new website; and the other is a Binance referral link with the directive ‘Buy Now’.

Of course, there are no BitConnect tokens (either 1.0 or 2.0) hosted on Binance. If we take a look at the domain registrar details for the new website – BitConnect.io – we see some strange peculiarities.

Despite the Twitter post promising a July 1st launch, the website’s domain name is set to expire two weeks before that date. The domain, which differs slightly from the original BitConnect.co website, was registered in 2017.

bitconnect domain

Scamception: A Scam Inside a Scam

All of this adds up to what looks like a scam inside a scam. Assuming the site domain isn’t renewed before the expiration on June 19th, then perhaps what we have here isn’t BitConnect 2.0 at all.

Rather, it appears someone with an old domain name is attempting to squeeze as much money out of their Binance referral link as possible before the site expires. The Twitter profile shows almost 1,000 followers already, despite the first post not appearing until one day ago. However, the new website is also registered in the same geographic location as the original – Panama.

One person who was able to see the funny side of the BitConnect revival was former BCC front-man, Carlos Matos. Famous for his exuberant and dramatic on-stage sale pitch, Matos continues to post memes about the BitConnect saga. Recently he revived his infamous ‘Hey, Hey, Hey…’ slogan to comment on BitConnect 2.0; which he apparently has no part in.

[embedded content] [embedded content]

Matos even posted this meme expressing a skeptical take on the project’s revival.

bitconnect grand theft auto meme

Too Late for Skepticism

Ultimately, the same skepticism would have been useful several years ago, before gullible investors were taken for all they had. From the ICO price of $0.17, the value of BCC tokens shot up to $509.99 in one year – marking ridiculous gains of 299,894%.

bitconnect charts

Of course, those gains were never cashed out. When the exit scam hit in January 2018, the value of BCC dropped like a stone. Data for the token price continued to be tracked up until August 2018, when it held a value of just $0.263786, before being removed from all exchanges.

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