Bitcoin (BTC/USD) Price Analysis:
The largest coin of the crypto market is not indicating any positive sign. The currency shows a moderate price trend in the last week. The Market Cap of Bitcoin is dealing around $203,170,646,589 at 11:18 UTC. For understanding the momentum of the coin, let’s analyze the BTC price chart.
Above chart is indicating a price fall. The week started with 6th August. Bitcoin price was trading at $11827. The coin booked a downtrend of 2.94%. BTC dropped to $11480. On 7thAugust, the coin jumped from $11480 to $12001. The escalation was of 4.56%. Further, on 8th August, the price counter changed from $12001 to $12085 by 0.70%. On 9th August, the Bitcoin slipped from $12085 to $11909 by 1.50%. On 10th August, the coin took another drop of 4.76%. The price changed from $11909 to $11342. On 11th August, the coin escalated from $11342 to $11572 by 1.96%. Currently, the Bitcoin price is at $11401. BTC might be seen rising towards the end of the week.
Ethereum (ETH/USD) Price Analysis:
The second-largest coin of the crypto market is currently dealing at $212.53. The Market Cap of Ethereum stands at $22,768,359,000 (11.23 UTC). The upsurge in the ETH coin is expected to continue for quite some time.
The week-long Ethereum price chart is reflecting a downfall, but from the past few days, the coin started recovering. On 6th August, the coin opened at $233.81 and slipped to $226.32 by 3.17%. The coin kept a moderate movement on 7th August. ETH price changed from $226.32 to $225.64. On 8th August, the coin slipped from $225.64 to $221.98 by 1.58%. On 9th August, Ethereum price slipped from $221 to $214. The regression was of 3.33%. On 10th August, the coin changed places from $214.58 to $206.58. The fall was of 3.61%. Yesterday, the coin picked up from $206.58 to $217.05. The progression was of 5.15%. Ethereum is recommended for long-term traders. ETH coin would be touching new highs in the near future.
Ripple (XRP/USD) Price Analysis:
The third-largest coin of the crypto market, Ripple (XRP) is trading at $0.30. The coin is dealing with bearish nature. The Market Cap of XRP is at $12,858,954,724 (11:27 UTC). Let’s have a look at the XRP price chart for the last week.
Ripple price was at $0.320 on 6th August. The coin slipped from $0.320 to $0.311 by 2.69%. On 7th August, XRP kept a moderate movement. The price changed from $0.3118 to $0.31116 by 0.18%. On 8th August, the coin slipped from $0.31116 to $0.30922. The regression was of 0.62%. There was a major downtrend in the price of Ripple on 9thAugust. XRP price switched from $0.30922 to $0.30036. The regression marked was of 2.79%. On 10th August, the coin escalated from $0.300 to $0.302. The hike was of 0.62%. The coin again maintained a low profile on 11th August. Ripple price moved from $0.3021 to $0.3022 by 0.03%. Today, XRP coin opened with a downtrend. The coin slipped from $0.302 to $0.300. The regression marked was of 0.69%. Investing in the third-largest wouldn’t go futile. As per analysis and historical data, the long-term investment plan is most suited for Ripple.
Bitcoin price prediction: BTC/USD stuck between strong levels of support and resistance – Confluence Detector
- BTC/USD went down slightly from $8,811.45 to $8,750.50 this Wednesday.
- BTC/USD has three healthy resistance levels on the upside at $8,800, $8,990 and $9,000.
After suffering a slightly bearish Wednesday, wherein it fell from $8,811.45 to $8,750.50, BTC/USD has had a bullish start to this Thursday and is currently priced at $8,768.85. Since the price is sandwiched between strong resistance and support levels, further growth might be hampered. On the upside, there are three healthy resistance levels at $8,800, $8,990 and $9,000. While on the downside, healthy support levels lie at $8,755 and $8,530.
BTC/USD Confluence Detector
Looking at the resistance levels – $8.800 has the one-hour Previous High, 4-hour Bollinger Band middle curve, 15-min Bollinger Band upper curve, one-hour Bollinger Band upper curve, one-day Fibonacci 61.8% retracement level and 100-day Simple Moving Average (SMA 100), while $8,990 has no confluence detected. $9,000 has the 4-hour Bollinger Band upper curve and SMA 10.
On the downside, $8,755 has the SMA 5, SMA 10, SMA 50, SMA 100, SMA 200 and one-hour Bollinger Band middle curve. Finally, $8,530 has the one-month Fibonacci 61.8 retracement level.
Bitcoin to soon be accepted at 65,000 Swiss Retailers
- 65,000 Swiss Retailers will be able to soon start accepting Bitcoin.
- The new development comes on the back of a partnership between Bitcoin Suisse and Worldline.
It is reported that a new system will be available for the 65,000 Swiss merchants currently using Wordline’s nationwide payments infrastructure, dubbed SIX Payment Services.
65,000 Swiss retailers will shortly be able to start accepting Bitcoin as a means of payment. It comes following a partnership announcement between the Swiss broker Bitcoin Suisse and the European payment and transaction services provider Worldline.
It is reported that local publication Switzerland Global Enterprise has announced that both companies have signed a letter of intent. It covers ground that they promise to offer Swiss traders and consumers the possibility of paying with BTC. In terms of the partnership, it will be allowing the country’s 65,000 retailers who already use Wordline’s infrastructure to accept Bitcoin payments.
Bitcoin technical analysis: BTC/USD price is consolidating outside of bullish flag
- 2Bitcoin price is trading in positive territory, up some 0.50% in the second half of the session.
- BTC/USD price action is within consolidation mode, failing to attract commitment.
- The bulls must again breakdown and hold above the $9000 price mark for greater upside.
BTC/USD weekly chart
The price is sitting just on top of a breached weekly flag structure.
BTC/USD daily chart
Daily price action is also moving within a bullish flag, subject to a potential breakout higher.
Spot rate: 8,771.49
Relative change: +0.50%