Cryptocurrency Bitcoin (BTC/USD) is trading at 6362.87. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin. At the moment, the quotes of the cryptocurrency are moving near the lower border of the bands of the Bollinger Bands indicator. A test of the level 6500.20 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 5950.20.
Bitcoin (BTC/USD) forecast and analysis on July 12, 2018
The conservative area for Bitcoin sales near the middle border of the Bollinger Bands indicator strip is at 6600.50. The abolition of the variant of the continuation of Bitcoin fall will be the breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes above the 6700.50 area, indicating a change in the bullish trend for BTC/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.
BTCUSD Analysis: The latest recovery and the bigger picture [Video]
Bitcoin remains under pressure in 2018 with the market consolidating off the yearly low and still at risk for deeper setbacks. However, on a short-term basis, the recent break above $6,830 has triggered an inverse head & shoulders formation that has succeeded in taking the immediate pressure off the downside.
In this analysis, we take a look at Bitcoin each day, highlighting all of the need to knows for anyone looking to extract up to date information about major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding the crypto asset, looking for an idea of where they may want to consider making that next conversion.
The cryptocurrency update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.
IOTA (IOT) Technical Analysis:| JULY 23, 2018 |
IOTA (IOT) Technical Analysis
After three attempts by sellers, we now have a triple bottom right at 90 cents, our main support line and 2018 lows.
This line, borrowing from previous IOTA analysis, anchors our trade plan and we still maintain the same stand: As long as IOTA price action is trending within 90 cents and $1.3, we shall remain neutral.
The best approach here is to trade a break out in either direction and gains above $1.3 or July highs will no doubt help resuscitate buyers helping push valuation back to $2 or higher.
Tron (TRX) Technical Analysis:| JULY 23, 2018 |
Tron (TRX) Technical Analysis
Undoubtedly, Tron is doing everything it can to compete and with the release of Tron Link, developers would have an easy time to interact with the Tron blockchain. Through an API, they can freely contribute dApps to the Tron ecosystem without compromising on security thanks to the robust encryption is use. Tron Link is an end product of Tron Watch who are also the creators of the Tron Wallet and is simply a chrome extension.
Check out Tronlink, the Chrome extension built by @TronWatch! Developers will now be able to create and interact with DApps from a browser, a major step before our Virtual Machine Testnet launch on July 30! Stay tuned https://t.co/4BuNDvPDTX
— Tron Foundation (@Tronfoundation) July 21, 2018
A simple Fibonacci tool between last week’s high low and we can see that TRX prices are finding support right at the 78.6 percent retracement level. Despite this encouraging development, we still remain neutral with bearish expectations unless of course we see gains above 4 cents, a previous support line and immediate resistance.
Remember, TRX bears are technically in charge and it’s clear when we draw a simple trend line between May-July highs. As such, we remain positive on price recovery but should sellers dip below July lows at 3 cents then we recommend shorting on every pull back with targets at 2.5 cents.