Price analysis 9/16: BTC, ETH, XRP, DOT, BCH, BNB, LINK, CRO, LTC, BSV

Bitcoin and a few altcoins have broken above key resistance levels, which suggests that the bulls are attempting to take control of the market. This week MicroStrategy, a Nasdaq-listed company, announced that it had added 16,796 Bitcoin (BTC) to its existing holding of 21,454 Bitcoin. This means in less than a year the firm has amassed 38,250 Bitcoin. This is a defining moment as MicroStrategy becomes the first public company to adopt a Bitcoin standard.  Other large companies may follow in MicroStrategy’s footsteps but they are likely to purchase at…

Crypto Price Analysis September 16: BTC, ETH, LTC, TRX, EOS

The cryptocurrency market is trying to recover. And if such assets as Bitcoin and Ethereum are looking quite confident in favor of further growth, the other ones, like Litecoin and EOS are very likely to fall and test their respective support areas. Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. After the cryptocurrencies complete these movements, signals for further growth may appear and they may try to form new ascending…

Bitcoin, Ethereum, Gold Analysis, Levels to Watch

Bitcoin for the first time since the early September crash, is showing signs of its comeback. Yesterday’s gain of 3.95% supported a breakout from the ending diagonal pattern. Currently, the price is above the dynamic resistance of the ending diagonal pattern and is above the 100MA. We are still looking at the penetration of the $10 760, which will lead Bitcoin towards 200MA at an important support and resistance of $11 120 – $11 200. If rejected, BTC most likely will be back in the diagonal and fall to find…

Price analysis 9/14: BTC, ETH, XRP, BNB, DOT, LINK, BCH, CRO, LTC, BSV

Bitcoin and several altcoins are trying to break out of their respective overhead resistance levels in order to restore bullish momentum. Most retail traders find it difficult to go against the herd and buy when the market is down. They generally wait for the price to recover and for improvements in sentiment before jumping in. By doing this, retail traders typically miss the larger part of relief rallies and pocket a smaller profit. On the other hand, professional investors capitalize on sharp corrective moves by purchasing if they believe that…

Price analysis 9/11: BTC, ETH, XRP, LINK, BCH, DOT, BNB, LTC, CRO, BSV

Although Bitcoin price is range-bound, a few altcoins have started a relief rally which could push them above key resistance levels. The President of the European Central Bank (ECB) Christine Lagarde said that the coronavirus pandemic has acted as a catalyst in boosting the adoption of digital payments in the European Union. Lagarde expects the majority of the consumers to continue using digital services even in the future. In order to support the digitalization, the ECB has formed a task force, which is “exploring the benefits, risks and operational challenges”…

Crypto Price Analysis September 9: BTC, ETH, LTC, BCH, EOS

Cryptocurrencies have gone in descending corrections again. Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. However, even now, on the Bitcoin and Ethereum D1 charts, ascending patterns confirming a leap upwards are forming; note that those are the same patterns. However, there is room for another decline before the patterns are complete. Hence, the market may slump even deeper down before reversing upwards. On W1s of the Bitcoin and Ethereum,…

Price analysis 9/7: BTC, ETH, XRP, LINK, BCH, DOT, BSV, BNB, LTC, CRO

Bitcoin and altcoins could consolidate in a tight range for a few days before making the next decisive move. Corrections are healthy for the strength of an uptrend because they shake out the excess exuberance and provide an opportunity to the traders who missed the bus earlier to make an entry at lower levels. About 68 crypto investors did the same thing when they used the recent dip to purchase anywhere between 1,000–10,000 Ether (ETH).  Buying against the prevailing short-term negative sentiment during a correction is not an easy task…

Price analysis 9/4: BTC, ETH, XRP, LINK, BCH, DOT, LTC, CRO, BNB, BSV

A dead cat bounce from Bitcoin and altcoins’ critical support levels may attract further selling that could result in lower levels over the next few days. The Nasdaq, S&P500 and Dow all corrected sharply on Sep. 3 and opened today with additional downside, suggesting that traders are rushing to the exit. Bitcoin (BTC) and several other major altcoins have also witnessed a strong bout of profit booking that has pulled down the total crypto market capitalization from $394 billion on Sep. 2 to about $339 billion today. Even gold, which…

Price analysis 9/2: BTC, ETH, XRP, LINK, BCH, LTC, BNB, CRO, BSV, ADA

If the bearish patterns on Bitcoin and altcoins complete the current correction could see prices drop to new lows. The U.S. stock market continues to hit new all-time highs while gold, which acts as a safe haven asset has retreated from it’s all-time highs. This suggests that there sentiment is to own risky assets. Meanwhile, Bitcoin (BTC), which at times behaves as an uncorrelated asset, remains stuck in a range. However, with the U.S. presidential elections approaching, the volatility in all the markets is likely to pick up.  If President…

Crypto Price Analysis September 2: BTC, ETH, LTC, BCH, EOS

The crypto market is trying to grow after another correction. Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. The Ethereum is ahead of the others that do not hurry to renew the highs. Moreover, on D1s of such cryptocurrencies as the Litecoin or Eos, reversal patterns are forming, promising a decline, and if the buyers fail to keep the nearest support levels, the crypto market may experience another serious drawdown.…