Bitcoin’s $780 Price Recovery

First, you’ll be introduced with some major facts about the recent price recovery of the most known cryptocurrency, the Bitcoin, and then you will get to know the details surrounding this topic. Here is some important information regarding the rise of the Bitcoin:

  • Just yesterday, the most famous cryptocurrency in the world, Bitcoin has made a bullish hammer candle, meaning that today’s UTC close was pivotal. Also, a close just above $10,380 will probably make some very strong buying pressure and will be essential for the rise to $11,000, which is fantastic.
  • If Bitcoin doesn’t manage to hold above 10,000 in the following day, then it could likely fall to $9,600, which was the price from Thursday.

BTC’s remarkable $780 recovery after being at $9,600 for 18 days has surely neutralized the bearish setup. On the other hand, follow-through is a must to put the bulls back on track. Bitcoin, the number one cryptocurrency, currently, by market value, has picked up a bid which was approximately $9,600. That was the lowest level of the BTC since the 1st of September. That was on Thursday by the Asian Trading hours, and it has risen to the satisfying price of $10,380 in the trading hours of U.S.A. That swift recovery kept the bulls in action, as Bitcoin was looking quite fragile beneath the key support of $9,855.

The rise of the price from $9,600 to $10,380 formed a candlestick-like shape, also known as the „bullish hammer.” This pattern can be seen when an asset makes the large early drop disappear to the end of the day on a highly positive note at or somewhere close to the high of the current day. This Thursday, the price of Bitcoin has fallen in a significant manner to $9,600, only to rise to $10,380 before it printed a UTC close right around at $10,271. When a hammer is seen, then it is considered to be an early warning that a rally will happen soon. Nevertheless, traders have a tendency to wait for a quite strong follow-through before they make their bids on the cryptocurrency market. The follow-through should be a UTC close which is just above the high of the hammer candle.

Right now, the main focus happens to be on today’s UTC close. At the moment, Bitcoin is changing hands at around $10,140 on Bitstamp, and it has also made a $10,208 high just earlier today. Bitcoin has made a continuation pattern, the bull flag. If a breakout was to be confirmed, it would without a doubt mean that the rally from $9,600 will resume and it will make some space for a rally to $10,950. The chances that a Bitcoin is going to print an impressive close above $10,380 would rise in a situation where the flag will end up with a bullish breakout.

Although the close above $10,380 will mean a good thing for the BTC, a complete revival of the bull needs an upside break of a contracting triangle in a period of three months. The upper-triangle edge is at $10,822, while the lower edge is at $9,450. That lower edge could possibly go into play if BTC closes beneath the level of $10,000, as of today.  

https://finance.yahoo.com/news/bitcoin-780-price-recovery-makes-110011299.html

Current Ethereum Price Status

Right now, the price of Ethereum is trading in a bearish zone compared to these two well-known currencies, one being the USD and the other Bitcoin. First, some relevant facts regarding the current status of the Ethereum price:

  • The price of Ethereum has suffered a downfall recently breaking the supports of $180 and $185 when compared to the U.S currency.
  • Right now, the price is close to the resistances at $172 and $175.
  • There is a slight possibility that a short-term upside correction can happen, but the more likely end-result would be that the outcomes will be capped at around $180.
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ETH Price Analysis

Looking at the previous week, a major decline has happened in the most popular cryptocurrency, Bitcoin and Ethereum are just beneath $10000 and $180 respectfully when you compare it to the USD. Ethereum price has also hit a new low below the support of $175 and the 100 SMA, which stands for the simple moving average. Furthermore, a break happened beneath the support of $170, and also the ETH price has traded near the level of $163. For a couple of days, the price began a solid upside correction from the swing low of $163.

The price has successfully risen above the level of $170, adding the Fib retracement level of 23.6% of the most recent fall. The drop had happened from the high level of $195 to the low level of $163. Nevertheless, there are many obstacles close to the levels of $178 and $180. Additionally, a massive bearish trend line which formes close to the resistance of $180. That bearish trend line has almost come to the Fib retracement level of 50% of the most recent drop which had occurred from the high level of $195 to the swing low level of $163.

Just above the current trend line, the following significant resistance happens to be close to the level of $184 and the 100 simple moving average.  A whole new Fib retracement level of 61.8% of the most recent drop which happened form the quite high level of $195 to the low level of $163. The before-mentioned Fib retracement level of 61.8% is waiting close to the resistance zone of $182 to act as a type of resistance. So, the price really has to climb somewhere above $184, $182 and also $180 to go back to the positive zone as soon as possible.

But, the current disadvantage is that immediate support is very close to the level of $165. In a situation where the price of Ethereum doesn’t go above the support area of $165, there’s a big chance that there will be more downsides. In the before-mentioned bearish situation, the price of Ethereum could suffer a new low somewhere below the support level of $160.

At the moment, the ETH price happens to trade in the bear zone beneath the level of $180, but if somehow an upside correction occurs close to the level of $180, then the bears will surely defend the following upsides.  

The Price Of Ripple (XRP) Will Likely Go Downhill

Right now, the price of XRP trades close to the resistance of $0.275 when compared to the USD. Because of that, the XRP price could go beneath $0.2620. Here is some crucial information about the current state of XRP on the cryptocurrency market:

  1. The price of XRP had begun an ascending correction when it traded to a whole new low of $0.258 against the currency of the USA, the US Dollar.
  2. The price of the most known currency on this market, Bitcoin is once again back to higher than $10000, but it faces some resistances close to the $10250 level.
  3. The XRP and the US Dollar will encounter some resistance close to the level of $0.275 and the 100 hourly SMA.
  4. The $0.267 resistance was breached recently on the hourly chart of the Ripple and the USD.

The Analysis Of XRP Price

Just about yesterday, there was a huge decline in the price of Ripple, when the price went beneath the levels of $0.28 and $0.27 when compared to the USD. Also, the price went below $0.27 and the 100 hourly SMA. Ultimately, the Ripple price has broken the support, which was $0.262 and traded to a low $0.2581 level. Nowadays, the XRP has established an upward correction, and it has traded between these two resistance levels; $0,265 and $0.262.

Besides, the price of XRP exceeded the 23.6% Fib retracement level of the most recent downhill from the high of $0.2919 to the low level of $0.2581. What’s even more important, is that yesterday’s declining channel with the $0.267 resistance has been breached on the hourly chart of Ripple and the USD. These two cryptocurrencies have ascended to the $0.27 level. On the other hand, they’ve come across a formidable resistance close to the level of $0.275.

Also, there was a 50% Fib retracement level of the most recent decline going from $0.2919 to $0.2581, which happen to act as a huge resistance at the time. Also, it seems that the 100 hourly SMA slows down the upward break above $0.275. In a situation where a triumphant close above the 100 hourly simple moving average and $0.275, happens, a rise could happen shortly.

Meanwhile, if the bulls resume suffering close to the $0.275 level, the price of the Ripple could go downwards in quick fashion. Today, the support is close to the level of $0.265. A downside break beneath the level of $0.265 could set the pace in the direction of additional losses to the $0.26 and $0.285 levels. If the price continues to go downhill, the Ripple price might go to a $0.25 level.

Right now, the XRP price is encountering a major resistance close to the 100 hourly SMA and the level of $0.275. Moreover, the bears could target a new decline beneath the level of $0.265 and $.026. A victorious close above the $0.275 level could assist the bulls in regaining their full strength.

Bitcoin And The Whole Cryptocurrency Market Approaches Some Resistance: The Analysis Of ETC, BCH, EOS, And TRX

First, some important facts regarding the current state of the crypto market:

  1. Right now, the cap of the crypto market happens to correct higher in the direction of this resistance; $268-270B.
  2. The price of the biggest cryptocurrency, Bitcoin also approached to a massive resistance somewhere close to these levels; $10,200 and $10,500.
  3. The price of EOS has successfully recovered by an incredible 5% and approached to the resistance of $3,650.
  4. The price of Ethereum Classic skyrocketed by 20% and surpassed the resistance limit of $7.
  5. The price of Tron (TRX) has risen by 8% and reached the resistance limit of $0.0185.

The giant of the cryptocurrency market, Bitcoin and the entire market cap itself is correcting the recent losses. While some are only on the rise like IOTA and ETC( Ethereum Classic), others such as Ethereum, Litecoin, and Ripple have faced much better days.

Analysis Of The Bitcoin Price

Just after a break beneath the $300 support, the price of the Bitcoin has tested the $290 level when compared to the USD. These two currencies have found support, and they have begun an upside correction, which is surely great news. The USD and BCH happen to trade between these levels; $300 and $305. Nevertheless, this pair is going towards the $315 and $320 levels while making some major resistances.

On the other hand, the $300 support might be short-term support, and very likely, the price will decline beneath that level according to the experts.

Analysis Of EOS, TRX and ETC Price

Recently, a rise in the price of the Ethereum Classic has been established near the support area of $5. The price of the Ethereum Classic ascended 20% and reached the levels of $6.5 and 7$. In the case of a downside correction, the identical resistances, $6.5 and $7 will be the supports.

The price of Tron was recovering when it reached $0.0165, its worst monthly level. TRX price went up by 8%, and right now it trades above the level of $8. Nonetheless, there happens to be a great number of resistances on the upside, just close to the levels of $0.0185 and $0.0192.

The EOS price didn’t get off the course retaining the $3.350 level, and it started to recover pretty well nowadays. Also, the price of this cryptocurrency had a 5% increase and today; it trades close to the resistance of $3.650. If more gains show up soon, the EOS price could go the $3800 resistance really quick. Something that is not so fantastic is that the major supports happens to be $3350 and $3500.

A few days ago, the cryptocurrency market cap went to $250.  Meanwhile, by today, it has recovered to $260, but resistance is waiting on the upside close to these levels; $268 and $270B. All in all, the upsides are probably going to remain with, of course, Bitcoin, followed by EOS, TRX, Ethereum Classic, IOTA, ripple and so on.

Can Bitcoin Price Get Past $12K­­?

The price of the most famous cryptocurrency in the world, Bitcoin, is once again on an uprise. But, the question is, can it get past the $12K? According to experts, there’s a high possibility for that, because the price of the Bitcoin is showing some rather good signs. For the time being, the Bitcoin price isn’t managing to clear the $12K resistance against the USD. As the stock markets across the globe are still dealing with the unexpected trade war in which the participants were USA and China, the Bitcoin has proved one more time to be a dominant cryptocurrency as it continues to rise, but not above $12k.

bitcoin in dollars 12.000

Right now, the Bitcoin is a haven for traders. Why? Because the global stock market has had its worst time in all 2019. The well-known company, Dow Jones suffered a loss of 1000 points on August 5th, when China responded fiercely to the wart threats made by the current president of the United States of America, Donald Trump. The yuan currency experienced quite a downfall, as China’s legal tender slipped beyond the $7 level, causing a massive capital flow out of yuan. Thre are speculations that a portion of that money flowed in Bitcoin on August 8th.

The Analysis Of The Bitcoin Price

Not long ago, an insignificant downside correction was spotted in the Bitcoin when compared to the USD. These two currencies have traded just below the support of a whopping $11800. Also, recently there was a break somewhere beneath the 100 SMA and $11650. SMA stands for Simple Moving Average. Nevertheless, a strong cryptocurrency for which it is known, Bitcoin came close to the support area of $11500. The important thing is that the Bitcoin price has regained its old glory.

Then, a break happened and it exceeded the 100 simple moving average and also the resistance of $11800. Furthermore. There was also a break which also exceeded the main contracting triangle with the resistance of astonishing $11860 on the hourly chart of the cryptocurrency Bitcoin and the USD. These two have also came to the $12k resistance, but they didn’t pass the limit of $12000. But, not long after the BTC/USD came to $12077.

The price of the Bitcoin traded just beneath the $12K limit wit the addition of the 23.6% Fib retracement level. This happened thanks to the wave between $12077 and $11495. Moreover, there’s a very steady support between 100 SMA and the $11750 level. What’s also interesting, that there was a 50% Fib retracement thanks to $11495 and $12077 wave which helped to make a mighty support which reached the level of almost $11786. Also, the triangle zone, which was broken, can be interpreted as a support to the level of $11750.

The support is close to the level of $11500, and if it goes below, it could easily turn bearish. All in all, if the Bitcoin wants to progress, even more, it has to break the level of $12K, and that way it will be an even more formidable cryptocurrency.

A Frosty Week In The Cryptocurrency World For Alts

It’s fair to say that this week wasn’t a good one for the altcoin in the cryptocurrency universe. A couple of them dumped double digits, which is far from great. The main currency in this Internet-bound market, Bitcoin is still powerful, but that doesn’t go for the somewhat smaller currencies, which have had a major downfall recently. There’s a possibility that they freeze over again soon.

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The whole of 2019 has not been a successful year of altcoins. But, they’ve survived the harsh crypto winter which lasted for a while. Seven days ago, the Crypto market grew by an impressive 7%, but the thing is that the altcoin weren’t the ones who could take credit for that. From last week to today, the Bitcoin has risen by over 12% and this currency was the one which is responsible for the exponential growth of the crypto market. Right now, the whole market cap is somewhere around $304 billion, which is quite impressive, because the week before, it was around $284 billion. Bitcoin is quite dominant, as the market share of this cryptocurrency comes at above 71%. Unfortunately, the altcoins are getting weaker by the day.

Today, Ethereum has plummeted by over 5% and below the $215 level. A couple of days, 1 Ethereum was $238, but since then it has fallen for more than 10%. Since this currency is quite weak in technical terms, it could be going below $200 in the next seven days.

Another altcoin is on the verge of collapse, the XRP. This cryptocurrency lost 2% today, and it is now below the regular limit of $0.300, which doesn’t sound good. The Bitcoin Cash was down by 3% this morning and by somewhere around 8% this week. The current value of this cryptocurrency is $325.

The value of Litecoin happens to vary day by day. At the beginning of this week, Litecoin’s value was back at three figures. But, in the next couple of days, the price has fallen by a significant margin. This week, the all-time high was $105. A day after, LTC price plummeted by 17% and today, its value is $87.

The nightmare for altcoins continues as the price of another cryptocurrency, EOS plunges to beneath $4 recording a 6% fall. From the start of this week, this altcoin dropped by 10% in value. EOS earned its reputation as a promising cryptocurrency, but now it seems not as much promising as it used to be. Other cryptocurrencies which can freeze in the winter are NEO, Chainlink and Cosmos. The value of the majority of altcoins seem to fall every minute and they have to rise to survive the harsh crypto winter, which is unforgiving for a weak cryptocurrency.

Not everything is bleak as it seems, as there is one special rising star on the cryptocurrency market. That altcoin is called Binance coin, which has reached a value of $30, which is its all-time high.