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Bitcoin Cash (BCH/USD) forecast and analysis on August 23, 2019

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 297. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on August 23, 2019

As part of the Bitcoin Cash forecast, a test of level 305 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 275. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 332.

Bitcoin Cash (BCH/USD) forecast and analysis on August 23, 2019

The cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area of ​​the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and the closing of quotations of the pair above the area of ​​336. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on August 23, 2019 implies a test level of 305. Further, it is expected to continue falling to the area below the level of 275. The conservative area for selling Bitcoin Cash is located area of 332. Canceling the option of falling cryptocurrency will be a breakdown of the level of 336. In this case, we can expect continuation growth.

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Top 3 price prediction BTC, ETH, XRP: Libra launches crypto-space arms race

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  • Facebook’s Libra project has sparked a race for a cake valued at $80.14 trillion (world GDP).
  • Tunisia was the first to enter the world of digitized currencies, China will not be the last.
  • US and European decisions will set the framework for the next decades.

China has announced that the deadline for the digital yuan to kick-off is in approximately three months.

After the first real test of the Central Bank of Tunisia on Monday, China has surprised the world by accelerating the implementation of its model of a sovereign cryptocurrency.

Many observers are wondering about the strange urgency transmitted by central banks on this issue. Such institutions are usually in no hurry to accelerate any project.

The ecosystem of means of payment has been a revolution for decades since the emergence of PayPal. The eruption of cryptocurrencies supposed a faster pace and provoked this need to have a product on the market.

How does Libra fit in?

Facebook’s initiative has triggered alarms even in the South Pole. Central banks responded within hours. The proposal led by the Calibra Foundation combines technology, financial muscle and a potential market of 2.4 billion prospective users.

The impact was clear from the virulence and speed with which the brainy central bankers and legislators have acted. 

They have a competitor that can take the market share away from them – if it has a chance. They have reached the conclusion that a counter-proposal capable of keeping most of the percentage of capital flow under the control of governments must be put forward quickly.

ETH/BTC Daily Chart

The ETH/BTC pair is currently trading at the price level of 0.0213 (+0.58%), enjoying the third consecutive day of gains. The path to the 0.022 level is more robust than expected, weakened by the short intraday range we see in the pair’s two components.

Above the current price, the first resistance level is at 0.022; the second one at 0.023 and the third at 0.024.

Below the current price, the first support level is at 0.0206, the second at 0.020 and the third one at 0.019.

The MACD on the daily chart is very robust and retains the slope and openness between the lines as it crosses the bullish neutral level of the indicator.

The DMI on the daily chart shows an extension of buyers’ control. The bears eventually give up and continue their decline.

BTC/USD Daily Chart

BTC/USD is currently trading at the $8,766 price level, playing with the price congestion support level at $8,750. China’s round turn on cryptocurrencies and Bitcoin, in particular, maybe working to curb falls.

The main moving averages are moving in an increasingly narrow space with low volatility. The fact that the encounter between these moving averages occurs in an environment of low volatility prevents a quick solution.

Only a sudden increase in price volatility could force moving averages crosses and speed up the process.

Above the current price, the first resistance level is at $8,950, the second at $9,000 and the third one at $9,500.

Below the current price, the first support level is at $8,750, the second one at $8,400 and the third at $8,200.

The MACD on the daily chart shows a continuation of the downward cross that was active at the end of last week. It does not increase the downtrend or openness between lines and reinforces the bullish rebound scenario as soon as it reaches the neutral level of the indicator.

The DMI on the daily chart shows the bulls with a small advantage over the bears. The meeting between the two sides of the market will take place in a few days.

ETH/USD Daily Chart

ETH/USD is currently trading at $187.2 and is set to attack the first price congestion resistance level at $190.

Above the current price, the first resistance level is at $190, the second at $195 and the third at $200.

Below the current price, the first support level is at $180, the second at $170 and the third is at $160.

The MACD on the daily chart loses all biases and openness between the lines. It is a faithful representation of the narrow daily price range that it has experienced over the past few days. A bullish rebound is possible, and that may give way to an extension of the previous bullish trend.

The DMI on the daily chart clearly shows the bulls controlling ETH/USD and keeping the bears at the lows. The negative point is the low ADX level, confirming the complete loss of trend strength.

XRP/USD Daily Chart

XRP/USD is currently trading at $0.273 and is attempting to breach the SMA100, the resistance level at the $0.276 price level.

Above the current price, the first resistance level is at $0.276, then the second at $0.283 and the third one at $0.285.

Below the current price, the first support level is at $0.27, then the second at $0.267 and the third one at $0.26.

The MACD on the daily chart retains its bearish potential as there is no improvement in either slope or line opening. The bearish scenario is still active.

The DMI on the daily chart confirms the MACD scenario. The bears control XRP/USD while the bulls give no sign of wanting to move higher.


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet

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Bitcoin Cash (BCH/USD) forecast and analysis on November 13, 2019

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 288. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on November 13, 2019

As part of the Bitcoin Cash forecast, a test of level 282 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 312. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at the level of 275.

Bitcoin Cash (BCH/USD) forecast and analysis on November 13, 2019

Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of ​​265. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on November 13, 2019 implies a test level of 282. Further growth is expected to continue to the area above the level of 312. The conservative area for buying Bitcoin Cash is located area of 275. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 265. In this case, we should expect a further fall.

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Top 3 price prediction BTC, ETH, XRP: EOS comes out of the darkness and kicks off the bullish season

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  • EOS/USD breaks the bearish trend and enters a scenario of multiple options.
  • The altcoins segment is making its moves while Bitcoin looks for fresh money.
  • XRP/USD remains weak and may drop as low as $0.25 to look for solid support.

In technical analysis, charts represent the price footprint over time. 

In this trip over time and price, assets draw a path that is subject to specific rules and conditions that allow us to analyze it.

The charts are like a blank sheet in which the analyst detects and draws scenarios –  present and future. When a price exits a certain setup, a new one begins – but remains dependent of the past.

In today’s Crypto Today article, I have highlighted the upward break in EOS/USD of the long term bearish trend line.

This break has generated a new scenario that – at least for now – enables an upward trend in the future – although it does not guarantee it.

EOS/USD daily chart.

The first precise observation of the change in course is the upward break of the long-term bearish trend line. The second point comes from the structure of the MACD, which shows a pattern of depletion in the short term. 

Graph structures of this type develop according to two patterns that carry high probabilities: 

– The price receives a new impulse and looks for the next resistance level, in this case, at the SMA200 price level of $4.60. In this scenario, the MACD bounces back up at the first cross attempt. The DMI on the daily chart supports this thesis, as the bulls remain above the ADX line.

– The buying side is exhausted after the bullish break of the bearish trend line. It then seeks support on the top of the bearish line and awaits the entry of new money attracted by the bullish break.

How to trade it:

– Above the $3.70 price level, we can take upward positions, with a primary objective of $4.60. The stop-loss protection for this trade at $3.33.


ETH/BTC Daily Chart

ETH/BTC remains upbeat.  The current price level is in the 0.0212 area has been a mid-point for months – generating significant resistance. 

Above the current price, the first resistance level is at 0.0213, then the second at 0.022 and the third one at 0.023.

Below the current price, the first support level is at 0.0206, then the second at 0.020 and the third one at 0.019.

The MACD on the daily chart shows a proper bullish inclination and enough openness between the lines to safely cross over to the bullish zone of the indicator.

The DMI on the daily chart shows that the bulls are moving into the bullish zone with a distinct advantage over the bears. The representatives on the selling side seem to give up and continue their way down.

BTC/USD Daily Chart

BTC/USD is currently trading at $8,734 after getting stuck under price congestion resistance at $8,750. The main moving averages are compacting around the $9,200 zone. Every day it is more likely to drop to the $8,000 environment where you will find fresh money.

Above the current price, the first resistance level is at $8,800, then the second at $9,200 and the third one at $9,350.

Below the current price, the first support level is at $8,400, then the second at $8,200 and the third one at $8,000.

The MACD on the daily chart prolongs the bearish cross but achieves minimal inclination and even less opening between the lines. If the zero level holds, the bearish scenario drops and we could see a robust upward rebound.

The DMI on the daily chart shows that the situation is neutral. Neither side of the market takes advantage of the other. The ADX line moves above both bulls and bears and highlights the lack of directionality of the BTC/USD pair.

ETH/USD Daily Chart

ETH/USD is right now the pure definition of compression. Today’s chart shows a small “Doji” compressed between the SMA100 and the EMA50, separated by just 2 dollars.

Above the current price, the first resistance level is at $186.7, then the second at $190 and the third one at $195.

Below the current price, the first support level is at $184.2, then the second at $180 and the third one at $170.

The MACD on the daily chart shows a slightly downward inclined profile. The separation between the lines is minimal, a sign of a lack of bearish strength.

The DMI on the daily chart indicates that the bidding side controls ETH/USD. Bears stay above the ADX line, which facilitates a possible leadership dispute.


XRP/USD Daily Chart

XRP/USD continues to show weakness and is trying, by all means, to stay above the $0.27 level and not enter weak support zones that could drag it down to the $0.25 level.

Above the current price, the first resistance level is at $0.276, then the second at $0.282 and the third one at $0.29.

Below the current price, the first support level is at $0.27, then the second at $0.267 and the third one at $0.257.

The MACD on the daily chart increases the bearish profile and the opening between the lines. We will likely see more price declines, even risking the relative lows at $0.205.

The DMI on the daily chart shows the bulls dominating, but they can’t get lost for a moment, or the bears will take the leadership away from them. The ADX situation indicates low volatility, which may be beneficial for the XRP/USD pair.


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet

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