Tag: Analysis

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

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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

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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

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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.…

Bitcoin Price & Technical Analysis: BTC in the Black Again

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On Tuesday, September 1st, the BTC finally showed some growth after several days of rather feeble trading. It is generally trading at $11825 USD. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. On D1, the technical picture of BTC/USD hardly changes: after a pullback, the pair keeps developing an uptrend. The aim of the growth is the resistance level at $12700 USD. The MACD histogram is in the positive area, which increases the chance for further development of the ascending impulse after the correction. The signal lines of the indicator are growing…

Price analysis 8/31: BTC, ETH, XRP, LINK, BCH, LTC, BSV, CRO, BNB, EOS

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Bitcoin and altcoins have bounced off their range lows but they are likely to encounter resistance at higher levels. The U.S. stock market is on track to clock its best August performance since 1984. Meanwhile, Bitcoin (BTC) is attempting a positive close for the month, after having declined consecutively in August 2018 and 2019. However, gold futures and the U.S. dollar index (DXY) have not been in favor as both could end the month in the red. Berkshire Hathaway disclosed a 5% stake each in five leading Japanese trading companies…

On-Chain Analysis Suggests There Are Few Bitcoin Sellers Preventing a Rally

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Bitcoin has seemingly entered no man’s land, with the price ping-ponging between $11,000 and $12,000. A top analyst has corroborated this sentiment, recently noting that neither his bull nor bear case has been confirmed. Chances are that this consolidation will resolve upward, though, according to a new analysis. This analysis suggests that there is little on-chain resistance stopping BTC from rallying to new local highs and beyond. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, ETH DeFi Boom, BitMEX KYC Bitcoin Could Be Buoyed as Few Sellers Remain According to recent…

Price analysis 8/28: BTC, ETH, XRP, LINK, BCH, LTC, BSV, CRO, BNB, EOS

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Bitcoin and altcoins are holding key support levels, suggesting bulls will try to break above overhead resistance levels soon. In his speech on Aug. 27, U.S. Federal Reserve chairman Jerome Powell said that the central bank will allow inflation to stay above its 2% target level if the figure has been languishing below that level for a long time. Some analysts believe that this could mean no rate hikes for at least five years.   In response to the speech, the U.S.dollar index (DXY) resumed its downtrend while gold is trading…

Price analysis 8/26: BTC, ETH, XRP, LINK, BCH, LTC, BSV, CRO, BNB, ADA

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Bitcoin and altcoins are likely to remain range-bound in the short-term as the bulls and the bears attempt to assert their dominance. On Thursday, U.S. Federal Reserve chairman Jerome Powell is expected to deliver an important speech that will highlight a new strategy of targeting “average inflation.” This means that the Fed might allow inflation to overshoot the 2% target temporarily if it has spent a long time below that level. If the Fed adopts this new strategy, it could keep interest rates near zero for five years or more,…

Price analysis 8/24: BTC, ETH, XRP, BCH, LINK, LTC, BSV, CRO, BNB, ADA

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The bulls are aggressively defending the 20-day EMA in Bitcoin and select altcoins, which could result in the resumption of the uptrend. The coronavirus pandemic has forced people to change several social behavioral habits. Along with maintaining social distance from one another, people are also averse to using notes, coins or cards as they might transmit COVID-19.  A new report from the Bank for International Settlements suggested that social distancing procedures and the “government-to-person payment schemes” have accelerated the efforts towards launching central bank digital currencies (CBDCs). The paper shows…

Price Analysis 8/21: BTC, ETH, XRP, BCH, LINK, LTC, BSV, ADA, BNB, CRO

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Bitcoin and several altcoins have formed bearish divergences, which suggests that the bullish momentum has weakened. Rich Dad Poor Dad author Robert Kiyosaki believes that Warren Buffet’s recent closure of his bank stock positions is a warning sign that the world might be starting a “major banking crisis.” Therefore, Kiyosaki suggests traders buy safe haven assets such as gold, silver and Bitcoin (BTC) to protect themselves from the downward spiraling value of the fiat currencies. Popular Bitcoin derivatives trader Tone Vays believes that Bitcoin could breakout to new all-time highs…