Price Analysis 4/27: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, XLM – BTC Ethereum Crypto Currency Blog

Bitcoin prices are holding up well but the fact that many altcoins are witnessing profit booking suggests that the focus is shifting back to BTC.

Crypto traders seem to be approaching the Bitcoin halving without any fanfare. Bitcoin’s (BTC) price action has been marginally positive in the past few days but it has only recently overcome the sharp crash of March 12. When the markets approach an important event without the overhang of huge expectations, it does not have to worry about disappointment and large-scale liquidation of positions. This could turn out to be in favor of the bulls.

According to the Crypto Fear & Greed Index, trader’s sentiment that had remained in the “extreme fear” zone for seven weeks has improved to fear. As several nations discuss reopening their economies, traders might stop hoarding cash and start putting it to use over the next few days. Some percentage of the money is likely to flow into Bitcoin and other altcoins as they have largely held their own during one of the worst crises in decades.

Daily cryptocurrency market performance. Source: Coin360

However, not everyone is bullish on the prospects of Bitcoin. In a recent interview, billionaire investor Mark Cuban said that he was bearish on Bitcoin. He said that his opinion would change only after if it becomes so easy to use Bitcoin that even “grandma can do it.” Until then, Cuban opines that bananas are easier to trade as a commodity compared to Bitcoin.

As Bitcoin’s halving is less than 15 days away, will the traders dump their altcoins and shift their attention only to Bitcoin or will the digital asset pull the whole sector higher? Let’s analyze the charts to find out.

BTC/USD

Bitcoin (BTC) was stuck close to $7,500 levels between April 23-25. The only positive thing was that the bulls did not allow the price to dip and sustain below the breakout level of $7,454.17 during the period.

BTC–USD daily chart. Source: Tradingview

This attracted buying on April 26, which helped the biggest cryptocurrency to resume the recovery. However, the bulls are struggling to push the price towards the immediate target of $8,000.

The current recovery has been gradual with several intermittent periods of consolidation. Even after breaking above resistance levels, the BTC/USD pair has failed to pick up momentum. This suggests a lack of confidence among the bulls that the rally is on a strong footing.

When the trend is weak, it is susceptible to a pullback on any adverse news. If bears sink the pair back below the breakout level of $7,454.17, a drop to the 20-day exponential moving average ($7,190) is possible.

If this support holds, the bulls will make another attempt to carry the pair to the $8,000-$8,175.49 resistance zone. Above this zone, the rally can extend to $9,200.

Conversely, if the bears sink the price below the 20-day EMA, a drop to the 50-day simple moving average ($6,676) is possible. The trend will turn negative on a break below $6,471.71.

The stops on 50% of the long positions can be kept at $7,000 while the rest can be trailed higher to $6,450. This move will reduce the risk and protect paper profits.

ETH/USD

Ether (ETH) rallied close to the psychological resistance at $200 on April 26 but could not break above it and reach the resistance of the ascending channel at about $207. This suggests that the bears are defending the $200-$207 resistance zone.

ETH–USD daily chart. Source: Tradingview

The bears will now attempt to drag the ETH/USD pair to the 20-day EMA ($175.7) and below it to the support line of the ascending channel. The 20-day EMA is sloping up and the RSI is in the positive zone, which suggests that buyers have the upper hand.

If the bulls buy the dip to the 20-day EMA or the support line of the channel, the pair will continue its upward journey inside the channel. The pair will pick up momentum on a break above the channel and will turn weak on a drop below the channel. Therefore, the stop-loss on the long positions can be trailed higher to $160.

XRP/USD

XRP has been trading above the 20-day EMA ($0.189) for the past four days but the bulls have not been able to carry the price to the top of the $0.17372-$0.20570 range. This suggests that the bulls are in no urgency to buy as they are not certain about the next uptrend.

XRP–USD daily chart. Source: Tradingview

If the XRP/USD pair dips below the 20-day EMA, a drop to the bottom of the range at $0.17372 is likely. This is a critical support to watch out for because if this gives way, the trend will shift in favor of the bears. Hence, the stop-loss on the long positions can be kept at $0.170.

Conversely, a strong rebound off the 20-day EMA will signal renewed buying interest. If the bulls can drive the price above $0.20570, a new uptrend is likely. The first target to watch out for is $0.25 and then a rally to the long-term downtrend line at $0.28.

BCH/USD

Bitcoin Cash (BCH) has been struggling to break above the overhead resistance of $250 for the past four days. This shows that the bears are aggressively defending this resistance. Currently, the altcoin is attempting to hold the 20-day EMA ($234.69).

BCH–USD daily chart. Source: Tradingview

If the BCH/USD pair bounces off the 20-day EMA, the bulls will once again try to drive the price above $250. If successful, a move to $280.47 is likely.

However, if the bears sink the pair below the 20-day EMA, a drop to $215 and below it to $200 will be on the cards. A break below $200 will complete the bearish head and shoulders pattern, which will be a huge negative. Therefore, the stop-loss on the long positions can be retained at $197.

BSV/USD

Bitcoin SV (BSV) has been trading inside a tight range of $187.16-$203.40 for the past four days. This suggests that both the buyers and the sellers are not placing large bets as they are uncertain about the next directional move.

BSV–USD daily chart. Source: Tradingview

A break below $187.16 can drag the price to the next critical support at $170. A breakdown of this support will sway the advantage in favor of the bears. Below $170, the next support on the downside is at $146.20. Therefore, the traders can protect their long positions with stops at $165.

The BSV/USD pair could attract buyers after a breakout above $203.40. Above this level, a move to $227 is likely.

LTC/USD

Though the bulls pushed Litecoin (LTC) above the overhead resistance of $43.67 on April 24, they have not been able to carry the price to the next level of $47.6551. This suggests a lack of buyers at higher levels.

LTC–USD daily chart. Source: Tradingview

Currently, the LTC/USD pair has dipped to the 20-day EMA ($42.69). If the pair can bounce off this support, the bulls will make another attempt to rally to $47.6551.

Conversely, a break below the 20-day EMA can drag the pair to $40 and below it to $35.8582 levels. For now, the stops on the long positions can be kept at $35. If the pair shows weakness, the traders can contemplate closing half of the position at $39.50.

EOS/USD

The bulls have not been able to push EOS above the overhead resistance of $2.8319 for the past four days. This suggests that the bears are defending this level. If the price turns down and breaks below $2.586, a drop to $2.3314 is possible. That will keep the altcoin range-bound for a few more days.

EOS–USD daily chart. Source: Tradingview

On the other hand, if the EOS/USD pair takes support at the 20-day EMA ($2.60) and breaks above $2.8319, a rally to the $3.1802-$3.3324 zone is possible. Above this zone, the up move can extend to $3.8811.

The pair will turn negative on a break below the support at $2.3314. Therefore, the traders can retain the stop loss on the long positions at $2.20.

BNB/USD

Binance Coin (BNB) has been gradually moving higher in the past few days. The 20-day EMA ($15.39) is sloping up and the relative strength index is in the positive territory, which suggests that bulls have the upper hand.

BNB–USD daily chart. Source: Tradingview

However, the slow pace of rise suggests that the bulls are cautious in their purchases. Currently, the bears are posing a stiff challenge at $16.8183.

If the BNB/USD pair turns down from the current levels but bounces off the 20-day EMA, the bulls will once again attempt to push the price above $16.8183. If successful, a rally to $21.50 is possible.

However, if the bears sink the pair below the 20-day EMA, a drop to the next support at $13.65 is likely. The traders can trail the stops on the long positions to $14.50.

XTZ/USD

Tezos (XTZ) broke above the overhead resistance of $2.7529 on April 25 but the bulls could not build up on the breakout. This shows that the bears are aggressively defending this level, as suggested in the previous analysis.

XTZ–USD daily chart. Source: Tradingview

The bears will now try to sink the XTZ/USD pair to the 20-day EMAv($2.30), which had acted as a strong support on two previous occasions (marked as ellipse on the chart).

If the pair bounces off this support once again, the bulls will attempt to push the price above the recent highs of $2.8969. If successful, a rally to $3.2712 is possible. Therefore, the traders can keep the stop loss on the remaining long positions at breakeven.

This bullish view will be invalidated if the pair breaks below the 20-day EMA. Such a move can drag the price to the next support at $2.0618.

XLM/USD

Stellar Lumens (XLM) has overtaken Chainlink (LINK) as the tenth largest cryptocurrency in terms of market capitalization. Hence, it has been included in our analysis today.

XLM–USD daily chart. Source: Tradingview

The XLM/USD pair picked up momentum on a break above $0.052443 on April 22 and quickly rallied to the next target objective of $0.062805 on April 23. However, since then, the bears have been aggressively defending this overhead resistance.

Repeated attempts by the bulls to break out and sustain above $0.062805 have failed in the past four days. Nevertheless, the positive thing is that the bulls have not given up much ground, which increases the possibility of the resumption of the up move.

The 20-day EMA is sloping up and the RSI has been trading in the overbought zone, which suggests that the bulls are in command. On a break above the $0.062805-$0.066102 resistance zone, a rally to $0.073434 is possible. Conversely, if the bears sink the pair below $0.060, a drop to the 20-day EMA ($0.053) is likely.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Price Analysis 4/24: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK – BTC Ethereum Crypto Currency Blog

Bitcoin is close to breaking out of its overhead resistance. This has resulted in strong price action in some altcoins, which suggests that the investor sentiment is bullish.

The total crypto market capitalization has bounced from just below $200 billion on April 22 to over $214 billion at press time. This is a positive sign as it shows that the sentiment is to buy the dips. If the market capitalization rises above $217 billion, it would open the gates for a rally to about $250 billion. A positive sign during the recent bullish move has been that along with Bitcoin several altcoins have also shown strength.

As Bitcoin halving nears, tweets regarding “halving “ have picked up and are currently ranked second among the topics discussed related to Bitcoin, according to crypto social sentiment analysis firm TheTIE.

Another survey conducted by the global peer-to-peer Bitcoin marketplace Paxful states that 50% of the respondents believe that a failure in the traditional finance system could result in a shift to Bitcoin. The chief operating officer and co-founder of Paxful Artur Scahabck said that many participants expect “mainstream adoption” in the next 6 to 10 years. However, the survey also had non-believers who said that the crypto bubble could burst in the same 6-10 years time frame.

Daily cryptocurrency market performance. Source: Coin360

Argentina is in talks with some of the world’s largest institutional investors to avoid a ninth sovereign debt default. The Argentine pesos has been one of the worst global currencies to hold as it has lost about 75% of its value against the US dollar since 2018. Interestingly, during the same period, the weekly volume of Bitcoin purchased with Argentine pesos has surged 1,028%. This shows that when investors lose faith in fiat currencies, they gravitate towards cryptocurrencies.

Global Macro Investor CEO Raoul Pal believes that the current crisis caused by the coronavirus outbreak could drive investors towards gold and Bitcoin. Pal expects Bitcoin to “go from a $200bn asset class to a $10tn asset class” in the next five years.

BTC/USD

Bitcoin (BTC) surged above the symmetrical triangle and the horizontal resistance at $7,454.17 on April 23. This was a huge positive but the bulls have not been able to take advantage of this breakout.

BTC–USD daily chart. Source: Tradingview

This shows hesitation at higher levels. The bears will now attempt to drag the BTC/USD pair below $7,454.17. If successful, a retest of the breakout level from the symmetrical triangle at $7,220 is possible.

If the pair rebounds off this level, the bulls will again attempt to drive the price above the $7,454.17-$7,740.37 resistance zone. If successful, a rally to $8,000 and then to $9,000 is possible.

The 20-day exponential moving average is gradually sloping up and the relative strength index is in the positive territory, which suggests that the bulls have a slight advantage.

The first sign of weakness will be a break below the 20-day EMA and the bearish scenario will come into play below $6,471.71. Therefore, the stop loss on the long positions can be retained at $6,200.

ETH/USD

Ether (ETH) continues to trade inside the ascending channel with a positive bias. The 20-day EMA ($169) is sloping up and the RSI is in the positive territory, which indicates that the bulls have the upper hand.

ETH–USD daily chart. Source: Tradingview

If the bulls can propel the ETH/USD pair above the ascending channel, the momentum is likely to pick up. Above the channel, a rally to $250 is possible. The pair remains bullish as long as it trades inside the top-half of the channel.

The first sign of weakness will be a break below the 20-day EMA and the trend will turn in favor of the bears on a break below the channel. Therefore, the stop-loss on the long positions can be trailed higher to $155.

XRP/USD

The bulls pushed XRP above the downtrend line on April 23 but could not sustain the price above it. Currently, the bulls are again attempting to sustain the price above the downtrend line.

XRP–USD daily chart. Source: Tradingview

If successful, a move to $0.20570 is likely. The bears might again defend this level but a break above it can start an uptrend that can result in a rally to $0.25.

The gradually upsloping 20-day EMA ($0.187) and the RSI just above the midpoint suggests a marginal advantage to the bulls.

However, if the XRP/USD pair turns down from the current levels or from the overhead resistance at $0.20570 and breaks below $0.17372, the trend is likely to favor the bears. Therefore, the protective stop-loss on the long positions can be trailed higher to $0.170.

BCH/USD

Bitcoin Cash (BCH) is facing stiff resistance at the overhead resistance of $250. The failure to break above this level will keep the altcoin range-bound between $200 and $250 for a few more days.

BCH–USD daily chart. Source: Tradingview

If the bulls can thrust the BCH/USD pair above $250, a move to $280.47 is possible. A breakout of this level will invalidate the bearish head and shoulders pattern, which could result in a rally to $350.

Conversely, a break below $200 will complete the bearish H&S pattern, which has a target objective of $119.53. The stop-loss on the long positions can be kept at $197.

BSV/USD

Bitcoin SV (BSV) is close to the resistance line of the symmetrical triangle. A breakout of the triangle will be a positive sign that can result in a move to $227. The bears are again likely to mount a defense of this level.

BSV–USD daily chart. Source: Tradingview

However, if the bulls can push the BSV/USD pair above $227, a new uptrend is likely. The first target on the upside would be $268.842 and above it $319.424.

Conversely, if the pair turns down from the current levels and plummets below the support line of the triangle, it will signal weakness. Below $170, the pair can decline to $146.20 and then to $100. Therefore, the stops on the long positions can be kept at $165.

LTC/USD

The bulls are attempting to push Litecoin (LTC) above the overhead resistance of $43.67. If successful, a move to $47.6551 is possible. The bears are likely to defend this level aggressively but if crossed, a new uptrend is likely to begin.

LTC–USD daily chart. Source: Tradingview

Above $47.6551, the LTC/USD pair can rally to $52.2767, which might act as minor resistance. However, if the bulls can break above this level, a rally to $63 is possible.

Conversely, if the bulls fail to sustain the price above $43.67, the consolidation is likely to extend for a few more days. A break below $35.8582 will open the gates for a further decline. Therefore, the long positions can be held with a stop at $35.

EOS/USD

EOS is trading in the upper half of the $2.3314-$2.8319 range. The 20-day EMA ($2.56) is gradually sloping up and the RSI is in the positive territory, which suggests that bulls have a slight advantage.

EOS–USD daily chart. Source: Tradingview

If the bulls can drive the EOS/USD pair above $2.8319, the momentum is likely to pick up. The target objective for the breakout from the range is $3.3324. If the traders can push the price above this level, the uptrend can reach $3.8811.

However, if the bulls fail to break out and sustain the price above $2.8319, the pair might spend a few more days inside the range. Lower levels can be expected on a break below the support of the range at $2.3314. Therefore, the protective stops on the long positions can be kept at $2.20.

BNB/USD

Binance Coin (BNB) has bounced off the 20-day EMA ($15) and has re-entered the rising wedge. However, the rebound lacks momentum, which shows hesitation among the bulls to buy at higher levels.

BNB–USD daily chart. Source: Tradingview

If the BNB/USD pair turns down from the current levels or from the resistance line of the wedge and breaks below the 20-day EMA, it will signal an advantage to the bears. Below the 20-day EMA, the next support is at 13.65.

Conversely, if the bulls can drive the pair above the wedge, it will invalidate the bearish pattern. This could result in a rally to $21.50. For now, the stops on the long positions can be kept at $13.

XTZ/USD

Tezos (XTZ) picked up momentum after bouncing off the 20-day EMA on April 21. Today, the altcoin reached our first target objective of $2.75. The bears are likely to defend this level aggressively.

XTZ–USD daily chart. Source: Tradingview

This could result in a minor correction or a few days of consolidation. Therefore, the short-term traders can book partial profits if the bulls struggle to scale the XTZ/USD pair above the overhead resistance. The stops on the rest of the long positions can be trailed higher to breakeven.

With the 20-day EMA ($2.15) sloping up and the RSI in the overbought zone, the advantage is with the bulls. Above $2.7529, a rally to $3.2712 is possible. This bullish sentiment could take a beating if the bears sink and sustain the price below the recent swing low of $2.0618.

LINK/USD

Failed breakouts are usually the first warning sign of waning demand at higher levels. Chainlink (LINK) climbed above the resistance at $3.83 on April 23 but the bulls could not sustain the breakout.

LINK–USD daily chart. Source: Tradingview

Currently, the bulls are again struggling to hold the price above $3.83. This shows selling at higher levels. However, the positive sign is that the LINK/USD pair has not given up much ground.

The 20-day EMA ($3.32) is sloping up and the RSI has been sustaining above the 60 levels, which suggests that bulls have the advantage.

If the pair can climb and sustain above $3.83, the uptrend is likely to resume. The first level to watch out for is $4.2023 and then $4.9762. The first sign of weakness would be a drop below the trendline.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Price Analysis 4/22: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK – BTC Ethereum Crypto Currency Blog

The bounce in most major cryptocurrencies shows demand at lower levels and also increases the possibility of an up move in the next few days.

The recent carnage in US crude oil futures and the selling in Brent affected the equity markets but did not cause any noticeable fall in the crypto markets. This is a positive sign as it suggests that the crypto markets are gradually decoupling from other assets that are perceived as risky. 

A recent Bloomberg report outlined several reasons to support their view that Bitcoin is ready for a bull run in 2020. According to Bloomberg, “the unprecedented monetary stimulus” in the wake of the COVID-19 crisis will benefit both gold and Bitcoin. It has said that Bitcoin will become digital gold in 2020. This suggests that mainstream media is also gradually recognizing the potential of Bitcoin, a point crypto enthusiasts have been proclaiming for a long time.

Daily cryptocurrency market performance. Source: Coin360

Being a new asset class, the transition from fiat to crypto will take time and this slow pace of change sometimes rattles investors. Veteran trader Peter Brandt recently asked whether Bitcoin was “actually living up to its high expectations?” He pointed out the low corporate interaction as the reason that made him voice his concern about Bitcoin adoption.  

While the world goes into a money printing spree, Bitcoin’s upcoming halving in the midst of the largest crisis in decades is a reminder of how it is different from fiat. Global events and political aspirations cannot tamper with it. Advantages such as these could gradually attract people towards crypto and the rate of adoption could increase due to the current crisis.

BTC/USD

Bitcoin (BTC) has been trading inside the $6,471.71-$7,454.17 range for the past few days, without a clear sense of direction. The 20-day exponential moving average ($6,931) is flat and the relative strength index has been hovering around the 50 mark, which suggests a balance between the bulls and the bears.

BTC–USD daily chart. Source: Tradingview

A symmetrical triangle, which usually acts as a continuation pattern, is forming inside the range. If the bulls can push the BTC/USD pair above the triangle, it will be the first indication that the bulls have overpowered the bears and an up move is likely.

On a break above $7,454.17, a quick move to $8,000 is possible. The bears might mount a defense of this level but it is likely to be scaled. Above this, the up move can reach $9,000 levels.

Conversely, if the bears sink the pair below the triangle, it will signal weakness. Below the triangle, a drop to $6,471.71 is likely but if this level also gives way, the pair is likely to drop to $5,600. Therefore, the stop loss on the long positions can be trailed higher to $6,200.

ETH/USD

Ether (ETH) is currently trading inside an ascending channel. On April 20, the bulls purchased the dip to the 20-day EMA ($162.60), which is a positive sign. This shows that the sentiment is to buy the dips.

ETH–USD daily chart. Source: Tradingview

The 20-day EMA ($165.23) is sloping up and the RSI is in the positive territory, which suggests that bulls have the upper hand. 

If the buyers can push the ETH/USD pair above $176.103, a move to the resistance line of the ascending channel is possible. This level might again act as a resistance but if the bulls can drive the price above the channel, a rally to $250 is likely.

The bearish scenario would come into play if the bears sink the pair below the ascending channel and the horizontal support at $148. If this level cracks, it could result in a deeper correction. Therefore, the long positions can be protected with a stop loss of $145.

XRP/USD

The bulls purchased the dip to the support of the $0.20570-$0.17372 range on April 20. While this is a positive sign, the failure of the bulls to carry XRP above the downtrend line could indicate a lack of demand at higher levels.

XRP–USD daily chart. Source: Tradingview

Currently, both moving averages are flat and the RSI is also close to the midpoint, which suggests a balance between the buyers and sellers.

The XRP/USD is likely to pick up momentum after the bulls propel the price above $0.20570. Above this level, a rally to $0.25 is possible. 

However, if the pair turns down from the current levels or from the downtrend line and breaks below $0.17372, it will indicate that bears have the upper hand. Therefore, the stop loss on the long positions can be kept at $0.165.

BCH/USD

Bitcoin Cash (BCH) has been trading below the moving averages since April 20, which is a negative sign. A bearish head and shoulders pattern is also developing that will complete on a break below $200. 

BCH–USD daily chart. Source: Tradingview

If the BCH/USD pair sustains below $200, the H&S pattern has a target objective of $119.53. Therefore, the long positions can be protected with a stop loss of $197.

This bearish view will be invalidated if the bulls can carry the price above the moving averages and the overhead resistance at $250. Such a move will indicate strength. The momentum could pick up above $280.47, opening the gates for a possible rally to $350.

BSV/USD

Bitcoin SV (BSV) is attempting to bounce off the support line of the symmetrical triangle. The next trending move could start after the price breaks out or breaks down from the triangle. Currently, the 20-day EMA ($187.95) is flat and the RSI is close to the midpoint, which suggests a balance between supply and demand. 

BSV–USD daily chart. Source: Tradingview

A breakout of the triangle will be the first indication that the bulls have gained the upper hand. The bears might again defend the overhead resistance at $227 but if this level is crossed, an up move to $268.842 is possible.

Conversely, if the bears succeed in breaking below the triangle and the horizontal support at $170, the BSV/USD pair could decline to $110. Hence, the long positions can be protected with a stop loss of $165.

LTC/USD

Litecoin (LTC) dipped below the 20-day EMA on April 20 but the bears could not sink the price to the horizontal support of $37.8582. The altcoin is attempting a bounce off $39.5823, which is a positive sign as it shows that the bulls have stepped in at a higher level instead of waiting to buy at the support.

LTC–USD daily chart. Source: Tradingview

If the LTC/USD pair breaks out of the $43.67-$47.6551 resistance zone, a rally to $52.2767 and then to $63 is possible.

On the other hand, if the pair turns down from the overhead resistance zone, it can drop to $35.8582. A break below this level could be a huge negative as it will indicate that the bears have overpowered the bulls. Therefore, the stop loss on the long positions can be kept at $35.

EOS/USD

EOS is range-bound between $2.3314 and $2.8319 for the past few days. The 20-day EMA ($2.54) is flat and the RSI is just above the midpoint, which suggests a balance between the buyers and sellers.

EOS–USD daily chart. Source: Tradingview

The advantage will tilt in favor of the bulls on a break above the overhead resistance at $2.8319. A breakout of the range gives the EOS/USD pair a target objective of $3.3324. If this level is also crossed, the next level to watch on the upside is $3.8811.

This view will be invalidated if the pair breaks down from the range at $2.3314. Such a move will give it a target objective of $1.8309. The stop loss on the long positions can be kept at $2.20.

BNB/USD

Though Binance Coin (BNB) broke below the bearish rising wedge pattern on April 20, the bulls held on to the 20-day EMA ($14.88). This is a positive sign as it shows that the bulls are buying the dips to the 20-day EMA. 

BNB–USD daily chart. Source: Tradingview

The gradually upsloping 20-day EMA and the RSI in the positive territory suggests that bulls have the upper hand. If the bulls can push the BNB/USD pair above the resistance line of the wedge, it will invalidate the bearish pattern. The next level to watch on the upside is $21.50.

However, if the current bounce fizzles out and the pair turns down and plummets below the 20-day EMA, it will signal weakness. A break below the horizontal support at $13.65 will indicate the likelihood of a deeper decline. Therefore, the protective stop loss on the long positions can be retained at $13.

XTZ/USD

Tezos (XTZ) dipped below the breakout level of $2.185 on April 20 but found support just above the 20-day EMA ($2). This is a positive sign as it indicates buying on dips to the 20-day EMA. 

XTZ–USD daily chart. Source: Tradingview

Currently, the bulls are attempting to push the XTZ/USD pair above the overhead resistance of $2.3756. If successful, a rally to $2.75 is likely. The upsloping 20-day EMA and the RSI in the positive territory suggest that bulls have the upper hand. 

This bullish view would be in danger if the pair turns down from the current levels and breaks below the 20-day EMA. A break below $1.8271 will shift the advantage in favor of the bears. Therefore, the stops on the long positions can be maintained at $1.75. If the price sustains above $2.40, the stops can be trailed higher to $2.

LINK/USD

The bulls repeatedly failed to clear the overhead resistance of $3.83 from April 18-20. This resulted in a drop to $3.3729, which was purchased by the bulls. Currently, the bulls are again attempting to propel Chainlink (LINK) above the overhead resistance at $3.83. 

LINK–USD daily chart. Source: Tradingview

If successful, the LINK/USD pair is likely to pick up momentum and resume its up move towards $4.9762. The bears might offer resistance at $4.2023 but the possibility of a break above this level is high.

The first sign of weakness would be a break below the trendline and the 20-day EMA ($3.22). If the bears sink the pair below $2.9450, a deeper decline is possible.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK – BTC Ethereum Crypto Currency Blog

Many major cryptocurrencies are not seeing follow up buying even after breaking out of resistance. This points to consolidation or a minor dip in the next few days.

WTI crude oil price today plunged over 92% to hit an intraday low of $1.1 per barrel at press time, a level which none of us would have even imagined to see just a few months back. This year alone, the asset class is down by over 98%.

Excess production, a sharp drop in demand due to the ongoing pandemic, margin calls and the rising popularity of electric cars are some of the factors that have soured sentiment in the asset class.

Though the fiat currencies have held up well during the current crisis, the incessant money printing, loss of trust in the central banks and fiat losing value could lead to a currency crisis in the future. We already see many investors piling up on gold to protect their purchasing power. In the future, as investors recognize the potential and advantages of crypto, huge money is likely to flow into the sector.

Daily cryptocurrency market performance. Source: Coin360

Renaissance Technologies’ Medallion Funds has received the green signal from the regulator to invest in the Bitcoin futures market. Renaissance plans to trade only in the “cash-settled futures contracts traded on the CME.” Renaissance’s $10 billion hedge fund has been in the news this year as it has been a huge outperformer, gaining 24% in 2020 when several funds are nursing huge losses.

In another positive, the regulators in Hong Kong have given permission to Arrano Capital, the blockchain arm of Venture Smart Asia, to launch a cryptocurrency fund. Venture Smart Asia targets $100 million under management for the tracker fund, which will be buying and selling Bitcoin. Later in the year, the fund hopes to launch a second fund dealing with a basket of tokens.

BTC/USD

Though the bulls have not been able to propel Bitcoin (BTC) above the overhead resistance of $7,454.17, they have maintained the price above the moving averages, which are on the verge of a bullish crossover.

BTC USD daily chart. Source: Tradingview

If the BTC/USD pair bounces off the current levels and rallies above $7,454.17, it is likely to pick up momentum and quickly move up to $8,000. After a minor consolidation or a dip at this level, we anticipate the rally to extend to $9,000 levels.

However, if the bears sink the price below the moving averages, a drop to $6,471.71 is possible. If this level holds, the pair might remain range-bound between $6,471.71 and $7,454.17 for a few more days.

Our bullish view will be invalidated if the pair drops below $6,471.71. Therefore, the traders can protect the long positions with stops at $6,000.

ETH/USD

Ether (ETH) rallied and closed (UTC time) above the overhead resistance of $176.103 on April 18. This was a huge positive but the bulls have not been able to build upon this move. This shows hesitation at higher levels.

ETH USD daily chart. Source: Tradingview

Nonetheless, if the ETH/USD pair rebounds off $176.103 and rises above $189.402, a rally to $208.50 and then to $250 is possible.

If the bears sink the price below $176.103, a drop to the 20-day EMA is possible. The bulls have been defending the 20-day EMA for the past few days, hence, we expect the ETH/USD pair to rebound off this support.

Contrary to our assumption, if the bears sink the pair below the 20-day EMA and the horizontal support at $148, the trend will turn in favor of the bulls. Therefore, the stop loss on the long positions can be trailed higher to $145.

XRP/USD

XRP is trading close to the middle of the $0.20570-$0.17372 range. The flat moving averages and the RSI just above the 50 level suggests a balance between the bulls and the bears.

XRP–USD daily chart. Source: Tradingview

A break above $0.20570 will indicate that the bulls have overpowered the bears. Above this level, the rally can reach $0.25. We anticipate this level to act as resistance. But if crossed, the up move can extend to the long-term downtrend line at $0.28.

On the other hand, if the bears sink the XRP/USD pair below the support at $0.17372, a drop to $0.145 is possible. The stops on the long positions can be trailed higher to $0.165.

BCH/USD

Bitcoin Cash (BCH) is facing stiff resistance at the overhead resistance at $250. The 20-day EMA is flat and the RSI is just below the midpoint, which suggests range-bound action for a few days. The level to watch on the upside is $250 and on the downside is $200.

BCH–USD daily chart. Source: Tradingview

A break above the $250-$280.47 resistance zone will be a huge positive. Above this zone, the BCH/USD pair can rally to $350.

Conversely, if the bears sink the pair below the immediate support at $200, a drop to $166 is possible. Therefore, the traders can retain the stop loss on the remaining long positions at $197.

BSV/USD

Bitcoin SV (BSV) has been trading inside the $227-$170 range for the past few days. The bounce off the support of the range on April 16 fizzled out at $209.580 on April 18, which shows a lack of buyers at higher levels.

BSV–USD daily chart. Source: Tradingview

Both the moving averages have flattened out and the RSI is close to the 50 levels, which points to a range-bound action for a few more days.

If the bears sink the BSV/USD pair below $170, a drop to $146.20 is possible. Therefore, the stops on the long positions can be retained at $165.

On the other hand, if the bulls can drive the price above the overhead resistance at $227, the pair is likely to pick up momentum. Above this level, a rally to $268.842 and then to $319.424 is possible.

LTC/USD

The bulls are struggling to propel Litecoin (LTC) above the $43.67-$47.6551 resistance zone. The 20-day EMA ($42) has flattened out and the RSI is just below the 50 level, which suggests a balance between the bulls and the bears.

LTC–USD daily chart. Source: Tradingview

If the LTC/USD pair dips below the 20-day EMA, a drop to $35.8582 is likely. If this level holds, the pair is likely to remain range-bound for a few more days.

Conversely, if the pair bounces off the current levels and breaks above the resistance zone, a new uptrend is likely. Above $47.6551, a rally to $63 is possible. The traders can keep the stops on the long positions at $35.

EOS/USD

EOS has been trading between $2.3314 and $2.8319 for the past few days. The moving averages are on the verge of a bullish crossover and the RSI is just above the midpoint, which suggests that the bulls are at a marginal advantage.

EOS–USD daily chart. Source: Tradingview

A break out of $2.8319 will signal strength. Above this level, a rally to $3.1802 is possible. Though the bears might attempt to defend this level, we expect it to be crossed. If the momentum is strong, the up move can extend to $3.8811.

Contrary to our assumption, if the EOS/USD pair turns down from the current levels or $2.8319 and slips below $2.3314, the trend will turn negative. Therefore, the stops on the long positions can be trailed to $2.20.

BNB/USD

Binance Coin (BNB) has been trading inside a bearish rising wedge pattern for the past few days. If the bears sink the price below the wedge and the horizontal support at $13.65, it will be a huge negative. Therefore, the stop loss on the long positions can be kept at $13.

BNB–USD daily chart. Source: Tradingview

The 20-day EMA is sloping up gradually and the RSI is just above the midpoint. This suggests that the bulls have a slight edge.

The BNB/USD pair is likely to pick up momentum after it breaks above the rising wedge. The failure of a bearish pattern is a bullish sign. If the bulls can drive the pair above $17.50, a move to $21.50 is possible.

XTZ/USD

Tezos (XTZ) broke above the overhead resistance of $2.185 on April 18. Currently, the bulls are attempting to keep the price above the breakout level. If successful, an uptrend to $2.75 is likely.

XTZ–USD daily chart. Source: Tradingview

However, if the XTZ/USD pair dips below $2.185, a drop to the 20-day EMA is possible. The bulls have not allowed the price to dip below the 20-day EMA since April 7, hence, we expect the pair to rebound off it once again.

The moving averages are on the verge of a bullish crossover and the RSI has been trading in the positive territory, which suggests that bulls have the upper hand. If the bulls can carry the price above $2.3756, the uptrend will resume.

Conversely, if the bears sink the pair below the 20-day EMA ($2), a drop to $1.8271 is possible. A break below this support will be a huge negative. Therefore, the traders can retain the stop loss on the long positions at $1.75.

LINK/USD

Chainlink (LINK) broke above the overhead resistance of $3.6412 on April 18 but the bulls have not been able to capitalize on the breakout. This shows selling at higher levels.

LINK–USD daily chart. Source: Tradingview

If the LINK/USD pair dips below $3.447, it can drop to the 20-day EMA ($3.16) where it is likely to find support. If the pair bounces off this level, the bulls will make one more attempt to push the price above $3.83. If successful, a rally to $4.2023 is possible.

The 20-day EMA is sloping up and the RSI has been trading in the positive territory, which suggests that bulls have the upper hand.

Contrary to our assumption, if the bears sink the pair below the 20-day EMA, it will signal weakness. A break below $2.945 will be a huge negative.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK – BTC Ethereum Crypto Currency Blog

Most major cryptocurrencies appear ready to start new uptrends after recently bouncing off strong support levels.

Binance chief executive officer Changpeng Zhao said that trading activity across major crypto exchanges had increased between 3 to 5 times. This is a bullish sign as it “means there are a lot more people coming into the industry.” While quantitative easing and fresh money coming into cryptocurrencies is a positive development, the bull run might not start immediately. However, in the long run, as the supply of fiat currency increases, Zhao said that “mathematics will eventually work” as Bitcoin is a limited asset.  

In the short-term, Bitcoin’s halving is an important event that can increase the volatility. PlanB,the creator of the stock-to-flow (S2F) Bitcoin price model  expects the price action to follow the model. If that happens, Bitcoin’s price could embark on a huge bull run following the halving in May. However, if the price action does not follow the model, PlanB has said that he would discard the model. 

Daily cryptocurrency market performance. Source: Coin360

Grayscale’s ten crypto funds had their best quarter on record with an inflow of $503.7 million, according to the latest quarterly report released by the company. The company said that 88% of the investments were carried out by hedge funds. This shows that even during the current uncertain times, investors are flocking to cryptocurrencies. Grayscale’s Bitcoin Trust now holds about 1.7% of the available supply of Bitcoin.

The fundamentals of the sector are improving and the long-term looks even more positive. Nonetheless, the short-term looks uncertain due to the ongoing crisis. Let’s look at the major cryptocurrencies and analyze whether they are likely to resume their uptrend or enter into a correction once again. 

BTC/USD

The breakdown from the bearish rising wedge pattern has not resulted in a sharp fall. Though Bitcoin (BTC) dipped below the 20-day EMA ($6,827) on April 15, the bears could not sustain the lower levels.

BTC USD daily chart. Source: Tradingview

On April 16, the BTC/USD pair rallied from a low of $6,471.71 and broke above the 50-day SMA ($6.997), which shows strong demand at lower levels.

The bears might present resistance at $7,454.17 but if this level is crossed, the uptrend is likely to resume. The first target is a move to $8,000, then a rally to $9,000 is possible.

Contrary to our assumption, if the bulls fail to propel the price above $7,454.17, the pair might remain range-bound for a few days. The trend will turn negative on a break below $6,471.71 and traders can trail their stop loss on the long positions to $6,000.

ETH/USD

Ether (ETH) finally broke above the 50-day SMA ($161.52) on April 16, which is a positive sign. If the buyers can push the biggest altcoin above $176.103, the momentum is likely to pick up.

ETH USD daily chart. Source: Tradingview

Above $176.103, the ETH/USD pair can rally to $208.50 and then to $250. The gradually upsloping 20-day EMA and the RSI in the positive territory also suggests that the bulls have the upper hand. 

Our bullish view will be invalidated if the pair turns down from the current levels and plummets below $148. For now, the stop loss on the long positions can be maintained at $135. The stops can be trailed to $145 after the pair closes (UTC time) above $177.

XRP/USD

XRP dipped below the 20-day EMA ($0.185) on April 15 but quickly reversed direction on the next day and scaled above the 50-day SMA ($0.186). This is a positive sign as it indicates demand at lower levels.

XRP–USD daily chart. Source: Tradingview

The bulls will now try to carry the price to $0.20570 where the bears might again mount a stiff resistance. If the XRP/USD pair turns down from this level, it might remain range-bound for a few more days. The flattish 20-day EMA and the RSI just above the 50 level also point to a few days of consolidation.

However, if the bulls can propel the pair above $0.20570, a rally to $0.25 is likely. Conversely, the pair will turn negative on a break below $0.15708. For now, the stops on the long positions can be maintained at $0.155.

BCH/USD

Bitcoin Cash (BCH) bounced from just above the psychological support of $200 on April 16. This is a positive sign as it shows that the bulls are unlikely to surrender without a tough fight. 

BCH–USD daily chart. Source: Tradingview

Currently, the buyers are facing resistance at the 50-day SMA ($242). If the bulls can propel the price above this level, a move to $280 is likely. Once $280 is overcome, a rally to $350 will be on the cards.

Conversely, if the price turns down from the current levels, the BCH/USD pair might again dip to $200. A break below this level will tilt the advantage in favor of the bears. Therefore, the traders can protect their remaining long positions with the stops below $197.

BSV/USD

Bitcoin SV (BSV) dipped below both the moving averages on April 16 but turned around from $172. Both moving averages are close to one another and the RSI is just above the midpoint, which suggests a balance between buyers and sellers.

BSV–USD daily chart. Source: Tradingview

The bulls will now try to carry the price to the overhead resistance at $227. If the BSV/USD pair turns down from this level, it is likely to remain range-bound between $227 and $170 for a few more days.

On the other hand, if the bulls can scale the price above $227, a rally to $268.842 and then to $319.424 is possible. The pair will turn negative on a break below $170. Therefore, the stops on the long positions can be maintained at $165.

LTC/USD

Litecoin (LTC) reversed direction from $37.8768 on April 16, which shows that the bulls continue to buy the dips. If the buyers can propel the altcoin above the $43.67-$47.6551 resistance zone, the momentum is likely to pick up.

LTC–USD daily chart. Source: Tradingview

The 20-day EMA is flattening out and the RSI is close to the midpoint, which suggests a balance between the buyers and sellers.

If the LTC/USD pair turns down from $43.67, it is likely to remain range-bound for a few more days. The pair will turn negative on a break below $35.8582. Therefore, the stops on the long positions can be retained at $35.

EOS/USD

On April 16, EOS bounced from $2.3371, which shows that the bulls are attempting to form a higher high closer to $2.4001. The altcoin is likely to pick up momentum on a close (UTC time) above $2.8319.

EOS–USD daily chart. Source: Tradingview

The 20-day EMA ($2.50) has flattened out and the RSI is just above the midpoint, which suggests that the bulls are attempting to gain the upper hand. The levels to watch on the upside are $3.1802 and above it $3.8811.

However, if the EOS/USD pair turns down from the current levels, it will be a negative sign. For now, the stops on the long positions can be retained at $2 but can be trailed higher to $2.25 after the pair sustains above $3.20 for four hours.

BNB/USD

Binance Coin (BNB) again took support and bounced off the 20-day EMA ($14.25) on April 16. This is a positive sign as it confirms that the 20-day EMA has flipped from resistance to support. 

BNB–USD daily chart. Source: Tradingview

The moving averages are on the verge of a bullish crossover and the RSI is trading in the positive territory, which shows that bulls have the upper hand. The momentum is likely to pick up on a close (UTC time) above $16.

Though $17.5 might act as a resistance, we expect this level to be crossed. The next level to watch on the upside is $21.50. Therefore, the stops on the long positions can be maintained at $13.

Contrary to our assumption, if the BNB/USD pair turns down from the current levels, it might remain range-bound for a few more days. The pair will turn negative on a break below $13.47.

XTZ/USD

Tezos (XTZ) rebounded sharply from the 20-day EMA ($1.90) on April 16, which is a positive sign. If the bulls can now push the price above the immediate resistance at $2.1850, a rally to $2.75, followed by a move to $2.98 will be on the cards.

XTZ–USD daily chart. Source: Tradingview

The moving averages are on the verge of a bullish crossover and the RSI has also risen from close to the midpoint. This suggests that bulls have the upper hand.

If the bulls fail to scale the price above $2.185, the XTZ/USD pair might remain range-bound for a few more days. The pair will turn negative on a break below the immediate support at $1.8271. The traders can trail the stops on the long positions to $1.75 after the pair sustains above $2.2 for four hours. 

LINK/USD

Chainlink (LINK) rebounded sharply from the moving averages on April 16, which is a positive sign. This shows that the bulls are keen to buy on dips to strong support levels.

LINK–USD daily chart. Source: Tradingview

The moving averages have completed a bullish crossover and the RSI continues to trade in the positive territory, which suggests that bulls are in command. If the LINK/USD pair can break above $3.6412, a move to $4.9762 is possible.

Though the bears might mount a stiff resistance at $4.2023, we expect this level to be crossed. 

Alternatively, if the price turns down from $3.6412, the pair might remain range-bound for a few more days. Our bullish view will be invalidated if the bears sink the pair below the moving averages.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK – BTC Ethereum Crypto Currency Blog

The trading range of most major cryptocurrencies has tightened, meaning a sharp directional move could occur within the next few days.

Lately, a great deal of attention has been focused on the correlation between Bitcoin and the S&P 500, meaning crypto traders need to keep track of the fundamentals of the equity markets. Global markets continue to be negatively impacted by the coronavirus pandemic and according to a report from the International Monetary Fund, the resulting lockdown in several countries will lead to one of the worst contractions in 90 years.

According to the IMF, “even if the spread of the virus peaks in the second quarter for most countries in the world, and recedes in the second half of this year” the global economy will witness a 3% recession year-over-year.

As a comparison, the previous financial crisis in 2008 had clocked only a moderate 0.1% drop in GDP growth year-over-year.

Daily cryptocurrency market performance. Source: Coin360

Usually, the expectation with such a negative forecast is a sharp fall in equity prices. However, the investors have already been expecting a sharp slowdown. Therefore, these stark warnings might only see a short-term knee-jerk reaction. The markets are likely to be more concerned about the rate of recovery after the slowdown ends. If the expectation is that the economy will spring back quickly, the equity markets might not break below their recent lows.

Even if the high correlation between Bitcoin and the S&P 500 remains intact in the short-term, a sharp fall below $5,000 level looks unlikely. As the spread of the coronavirus slows down and the world tries to limp back to normalcy, Bitcoin is expected to chart its own course driven by its fundamentals.

Therefore, investors could choose to not to be too bogged down by the performance of equities markets and only use them as a reference.

Let’s study the charts of Bitcoin and the major altcoins to determine the path of least resistance.

BTC/USD

The bears have not allowed Bitcoin (BTC) to rally above the 50-day simple moving average for the past few days. This is a negative sign as it shows that the bears are in command. They are currently attempting to sink the price below the 20-day exponential moving average ($6,840).

BTC USD daily chart. Source: Tradingview

If the BTC/USD pair sustains below the 20-day EMA, it will signal weakness. With the 50-day SMA sloping down and the relative strength index gradually turning down, the bears have a slight advantage. The immediate support is at $6,553.21 but if this fails to hold, the decline can extend to $5,660.65.

Conversely, if the bulls buy the current dip, we anticipate another attempt to scale the price above the 50-day SMA ($7,033). If successful, a move to $7,454.17 and $8,000 is possible.

We anticipate the pair to start a decisive move within the next few days. For now, traders can protect their long positions with a stop loss of $5,600.

ETH/USD

Ether (ETH) continues to trade between both the moving averages, which are converging. This shows that volatility has dropped but this is unlikely to continue for long. We anticipate a sharp move within the next few days.

ETH USD daily chart. Source: Tradingview

If the bears sink the ETH/USD pair below $149, the follow-up selling can drag the price to $135 and below it to $100. Therefore, the stop loss on the long positions can be kept at $135.

On the other hand, if the pair turns around from the current levels, the bulls will try to propel the price above $176.103. If successful, an up move to $208.50 and $250 is possible.

XRP/USD

The bulls are struggling to keep XRP above the 20-day EMA ($0.184), which is a negative sign. The 50-day SMA ($0.188) continues to slope down and the RSI is also gradually moving lower. This suggests that the bears are attempting to tilt the advantage in their favor.

XRP–USD daily chart. Source: Tradingview

A break below $0.175 will be a negative sign as it will increase the possibility of a drop to $0.15708. This is the critical level to watch out for because, below this level, a retest of the recent low at $0.114 is possible.

Conversely, if the XRP/USD pair turns around from the current levels or from one of the support levels and rallies above the recent swing high of $0.20570, a new uptrend is likely. Hence, the stop loss on the long positions can be retained at $0.155.

BCH/USD

Bitcoin Cash (BCH) has been sustaining below the 20-day EMA ($233.51) for the past two days, which is a negative sign. This shows that the bulls are not confident buying even at these levels.

BCH–USD daily chart. Source: Tradingview

The BCH/USD pair can now drop to $200 and if this level cracks, the decline can extend to $166. With both the moving averages sloping down and the RSI in the negative territory, the advantage is with the bears.

As the trend looks bearish, we suggest traders close half of their long position at the current levels and keep the rest with the stops at $197.

Our bearish view will be negated if the pair turns around from the current levels and rises above the $250-$280.47 resistance zone. Such a move will open the gates for a rally to $350.

BSV/USD

The volatility in Bitcoin SV (BSV) has dropped sharply in the past few days. This shows that traders are not clear about the next move, hence, they are not placing any large bets in either direction.

BSV–USD daily chart. Source: Tradingview

However, this state of confusion is unlikely to remain for long. Within the next few days, there could be a large thrust in either direction that can result in a directional move.

As the moving averages have completely flattened out and the RSI is also at the midpoint, it is difficult to predict the direction of the breakout.

If the bulls make the first move, they can carry the price to $227 and above it to $268.842, which is the 61.8% Fibonacci retracement of the recent decline. Conversely, if the bears force a breakdown, a drop to $146.20 is possible. Therefore, the traders can maintain the stops on the long positions at $165.

LTC/USD

Litecoin (LTC) has been trading below the 20-day EMA ($41.94) for the past two days. This is a negative sign as it shows a lack of buyers even at these levels. The altcoin can now drop to the next support at $35.8582.

LTC–USD daily chart. Source: Tradingview

The 50-day SMA ($44.82) continues to slope down and the RSI is gradually dropping lower. This suggests that the bears have the upper hand. A break below $35.8582 will be a huge negative, hence, the traders can hold their long positions with stops at $35.

Before surrendering to the bears, the bulls might make one last attempt to defend the support at $35.8582. If successful, the LTC/USD pair is likely to remain range-bound between $35.8582-$43.67 for a few more days. The pair will pick up momentum after it climbs above $47.6551.

EOS/USD

EOS has been trading close to the $2.4001 level for the past few days. The 20-day EMA ($2.47) has flattened out but the 50-day SMA ($2.65) continues to slope down. The RSI has dipped below the 50 levels, which shows that the bears might be at a slight advantage.

EOS–USD daily chart. Source: Tradingview

A break below $2.4001 will indicate that the bears have made their move and a drop to $2.0632 is likely. If this support also cracks, a drop towards the recent lows at $1.42 is possible. Hence, the traders can retain the stops on the long positions at $2.

Conversely, if the EOS/USD pair bounces off the current levels or $2.0632, the bulls will make another attempt to push it above the recent swing high of $2.8319. If successful, a new uptrend is likely.

BNB/USD

Binance Coin (BNB) climbed above the 50-day SMA ($14.77) on April 13 and followed it up with a move above $15.49 on April 14. This should have cleared the path for a move to $17.50 but the bears are not relenting.

BNB–USD daily chart. Source: Tradingview

The BNB/USD pair has pulled back to the moving averages, which are on the verge of a bullish crossover. We anticipate this level to act as a strong support. If the pair bounces off this support, it is likely to resume its journey towards $17.50.

If the momentum picks up and breaks above $17.50, the next target to watch out for on the upside is $21.50. The traders can trail the stops on the long positions to $13.

A bullish view will be invalidated if the bears sink the price below the breakout level of $13.65. Such a move will indicate that the markets have rejected the higher levels and a drop to $11.2552 is likely.

XTZ/USD

The range continues to shrink as Tezos (XTZ) is largely stuck between both the moving averages. This tight range trading could lead to a sharp directional move within the next few days.

XTZ–USD daily chart. Source: Tradingview

A break below the 20-day EMA ($1.88) will be a huge negative as it can drag the XTZ/USD pair to $1.65. If the downward momentum is strong, a drop to $1.4453 is also possible. Such a move will signal that the breakout above $1.955 was a bull trap.

Contrary to our assumption, if the pair dips just below the 20-day EMA but then quickly reverses direction and rallies above the 50-day SMA ($2.03)-$2.185 resistance zone, it will signal an advantage to the bulls. For now, traders can retain their stops on any long positions at $1.40.

LINK/USD

Chainlink (LINK) has turned down from just above the 61.8% Fibonacci retracement level of the recent drop. This shows that the bears are unlikely to give up without a tough fight.

LINK–USD daily chart. Source: Tradingview

The LINK/USD pair is likely to take support at the moving averages, which are close to each other. If the pair rebounds off this support, the bulls will make another attempt to scale the price above $3.6412.

If successful, a rally to $4.9762 is possible. The bears might pose another challenge at $4.2023 but we expect this level to be crossed.

Contrary to our assumption, if the bears sink the pair below the moving averages, a drop to $2.50 and $2 is possible.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Flyp.me Crypto-to-Crypto Accountless Exchange Launches Android App

Bitcoin Press Release: Flyp.me has announced a new app for Android users providing easy access to the world’s pioneering accountless cryptocurrency exchange with support for over 30 cryptocurrencies.

April 8, 2020. Accountless cryptocurrency exchange Flyp.me is launching an all-new cryptocurrency exchange platform for Android users that doesn’t require an account to exchange your crypto. With the help of this platform, crypto users and traders can easily “flyp” cryptocurrencies in a borderless way securely. The exchange offers a unique experience that will help the crypto industry grow and increase its accountless capacity

Key Features of the Flyp.me Platform

The Flyp.me platform is a unique option available in the crypto world as it doesn’t require users to make an account before exchanging/trading cryptocurrencies. The service has been available for crypto users since 2017 and has now been made available on Android phones. Due to this approach, many useful key features of cryptocurrencies are preserved and the control is handed back to the user. Flyp.me allows users complete control over their private keys. This is an extremely important functionality extended to the user. The private keys allow the users complete control over their cryptocurrency holdings and diminishes the power of the exchange in the spirit of the decentralization philosophy.

Conventional cryptocurrency exchanges are popular right now but they are also receiving criticism for their continuing demise of the rights and functionalities of cryptocurrencies. By giving users control of their private keys, Flyp.me helps protect users’ rights while providing the functionality needed.

Key features of the new accountless crypto exchange include:

  • Support for over 30 cryptocurrencies.
  • 24-hour availability for users around the world.
  • Fast transactions and the ability to flip between different popular cryptocurrencies supported in the platform.
  • Private operations as the exchange doesn’t require an account to start trading.
  • Safe operations as the operations are end-to-end supported by state-of-the-art security protocols and measures.
  • Open API integration for other websites and crypto services platforms. This allows other platforms to have a useful symbiotic relationship with the Flyp.me exchange. Flyp.me allows businesses and users to accept or send cryptocurrency with ease, anytime, anywhere.

Head to Google Play) to download the app.

HolyTransaction, the first multicurrency web wallet since 2014. There is no registration necessary and no hidden analytics tracking you. Moreover, Flyp.me does not control users’ funds, so your private keys are not at risk of being held on third-party services. It is created for the good of the community especially HODLers around the world who like to keep it simple and accountless.

Flyp.me currently supports over 30 cryptocurrencies and is continuing to add more: Bitcoin, Ethereum, Zcash, Augur, Litecoin, Syscoin, Pivx, Blackcoin, Dash, Decred, Dogecoin, Flyp.me Token, Gamecredits, Peercoin, Aidcoin, 0x, Vertcoin, Basic Attention Token, BLOCKv, Groestlcoin, Essentia, DAI Stablecoin, Power Ledger, Enjincoin, TrueUSD, Cardano, Storj, Monero, Maker, DigiByte and TetherUS.

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BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK – BTC Ethereum Crypto Currency Blog

Most major cryptocurrencies are attempting to bounce off their immediate support levels, which is a huge positive as it suggests buying on dips.

Famed investor Mike Novogratz believes that additional crypto adoption and more drastic central bank actions will benefit Bitcoin. The Galaxy Digital CEO said that hedge funds and high-net worth individuals have been buying Bitcoin (BTC). However, Novogratz expects the U.S. equity markets to go down, hence, he “got short Friday for the first time in a while — both stocks and credit.”

Several analysts have suggested that the current crisis is likely to be far worse than the previous financial crisis, which led to the birth of Bitcoin. Gemini co-founder Cameron Winklevoss said that the current coronavirus “pandemic will be an inflection point for Bitcoin and the Metaverse.” For this reason Winklevoss has advised his followers to “hodl” their Bitcoin holdings.

Daily cryptocurrency market performance. Source: Coin360

However, longtime Bitcoin critic Peter Schiff has a different opinion as he expects gold to outperform Bitcoin over the long term. Over the next several years, Schiff believes that Bitcoin will crash “back to earth” while “gold moons.”

Currently many analysts believe that over the next few weeks, equity markets and Bitcoin will decouple, leading each asset to chart its own course. If this were the case, then investors might gradually warm up to Bitcoin as the central banks and governments around the globe resort to further easing measures. The upcoming Bitcoin halving could also be another factor that turns out to be bullish for the largest cryptocurrency.

Over the past week, several major cryptocurrencies turned down from their respective 50-day simple moving average after failing to cross above it. Many investors now wonder if the bulls will regroup at lower levels and carry prices higher? 

Let’s analyze the charts to find out.

BTC/USD

After showing promise, Bitcoin’s (BTC) relief rally is fizzling out. There are two negatives, one is the breakdown from a rising wedge pattern and the second is a break below the 20-day exponential moving average ($6,840). Both these suggest that the bears are gaining strength.

BTC USD daily chart. Source: Tradingview

There is a minor support at $6,553.21, below which the decline can extend to the critical support at $5,660.65. If this level also cracks, the BTC/USD pair can drop to the support line of the symmetrical triangle at $5,000.

This negative view will be invalidated if the pair rebounds off the current levels and the bulls propel the price above $7,454.17. Such a move will indicate strong buying by the bulls at lower levels. For now, the stops on the long positions can be retained at $5,600. 

ETH/USD

After trading between the moving averages for the past few days, the bears are currently attempting to sink Ether (ETH) below the 20-day EMA ($153.14). If successful, it will indicate that the recent breakout of $155.612 was a bull trap.

ETH USD daily chart. Source: Tradingview

The 20-day EMA has flattened out and the relative strength index has turned down from the 60 levels and slipped below 50 levels. This suggests that the bulls are losing steam. 

Below the 20-day EMA, the ETH/USD pair can decline to $137.086 but if this support also fails to hold up, the next level to watch out for on the downside is $117.09. The traders can protect their long positions with a stop loss at $135.

However, if the pair rebounds off the current levels and breaks above the 50-day SMA ($168) and $176.103 resistance zone, it would indicate strength. The first target on the upside is $250 and above it $288.599.

XRP/USD

XRP has slipped below the 20-day EMA ($0.184) after staying above it for the past few days. This is a negative sign as it shows that the bears are gaining the upper hand. On a break below $0.175, a drop to $0.15708 is possible. If this level breaks down, it will be a huge negative.

XRP–USD daily chart. Source: Tradingview

Conversely, if the XRP/USD pair rebounds off the current levels or the support at $0.15708, the bulls will make another attempt to scale above the $0.2057-$0.21608 resistance zone. 

If successful, a new uptrend is likely that can reach $0.25 and above it $0.28. Therefore, the bulls can keep the stop loss on the long positions at $0.155.

BCH/USD

Bitcoin Cash (BCH) dropped below the 20-day EMA on April 10 and the attempts by the bulls to push the price back above it failed on April 11 and 12. As a result, the bears have resumed their selling.

BCH–USD daily chart. Source: Tradingview

Both the moving averages are sloping down and the RSI has also dipped into the negative zone, which suggests that bears have the upper hand.

The next support on the downside is $200 and if this level also cracks, the decline can extend to $166. Therefore, the stops on the long positions can be kept at $197. 

Our bearish view will be invalidated if the BCH/USD pair rebounds off the $200 support and rises above $250. Such a move will increase the possibility of a new uptrend.

BSV/USD

Bitcoin SV (BSV) has been trading close to the $185.87 support for the past two days. Both the moving averages have converged and the RSI is at the midpoint. This points to a directionless tight range trading for a few days. 

BSV–USD daily chart. Source: Tradingview

If the BSV/USD pair dips below $176.90, a drop to $146.20 is possible. On the other hand, if the bulls can push the price above $183.04, a move to $227 is likely.

A break below $146.20 will be a huge negative as it can drag the price to $120 and below it to $100 levels. The stop loss on the long positions can be retained at $165.

LTC/USD

After holding the 20-day EMA ($42.11) for the past three days, Litecoin (LTC) has dipped below it today. The 20-day EMA has started to turn down and the RSI has slipped into the negative territory, which suggests that bears have the upper hand.

LTC–USD daily chart. Source: Tradingview

The next support on the downside is $35.8582. If this support also cracks, the LTC/USD pair can plummet to $29.3296 and below it to $23.9777. Therefore, the stop loss on the long positions can be kept at $35.

Our negative view will be invalidated if the pair rebounds off $35.8582 and breaks above the recent swing high of $47.6551.

EOS/USD

EOS had dipped below the breakout level of $2.4001, which is a bearish sign. If the price sustains below this level, it will suggest that the recent breakout was a bull trap. The next support on the downside is $2.0632.

EOS–USD daily chart. Source: Tradingview

The 50-day SMA continues to slope down and the 20-day EMA has also started to turn down. The RSI turned around from the 60 levels and has slipped into the negative territory. This suggests that the bears have the upper hand.

Our negative view will be invalidated if the EOS/USD pair rebounds off the current levels and rallies above $2.8319. Such a move will indicate strength and can result in an up move to $3.86. The stop loss on the long positions can be retained at $2.

BNB/USD

The bulls have not been able to propel Binance Coin (BNB) above the 50-day SMA but the positive thing is that they have aggressively defended the support at $13.65. This is a positive sign as it shows demand at lower levels.

BNB–USD daily chart. Source: Tradingview

Both the moving averages are on the verge of a bullish crossover and the RSI has been oscillating between the 50 and 60 levels, which is a positive sign.

If the bulls can drive the BNB/USD pair above the 50-day SMA ($14.76) and $15.49, a quick rally to $17.50 is likely. Above this level, the rally can extend to $21.50. 

Our bullish view will be invalidated if the bears sink and sustain the pair below $13.65. Below this level, a drop to $11.2552 is possible. For now, the stop loss on the long positions can be kept at $11. The stops can be trailed higher to $13 after the price sustains above $15.50 for four hours.

XTZ/USD

Tezos (XTZ) has been stuck between both the moving averages for the past few days. This shows a state of balance between the bulls and the bears as both are unwilling to take large bets.

XTZ–USD daily chart. Source: Tradingview

However, this tight range trading is unlikely to continue for long. We expect the range to expand within the next few days.

If the bulls can propel the price above the 50-day SMA ($2.07) and $2.185 resistance zone, the XTZ/USD pair is likely to start a new uptrend that can reach $2.75 and above it $3.33. 

Conversely, if the bears sink the pair below the 20-day EMA ($1.87), a drop to $1.65 and below it to $1.4453 is likely. The traders who are long can keep a stop loss of $1.40 to protect their positions. 

LINK/USD

Chainlink (LINK) continues to be one of the strongest major cryptocurrencies. It has been sustaining above the 50-day SMA for the past few days, which shows that the bulls are holding their fort.

LINK–USD daily chart. Source: Tradingview

The buyers are currently facing resistance near the 61.8% Fibonacci retracement level of $3.5948. However, the positive thing is that the bulls have not given up much ground, which shows strength.

The moving averages are on the verge of a bullish crossover and the RSI has been maintaining close to the overbought levels, which shows that bulls are in command. A break above $3.5948 can carry the LINK/USD pair to $4.8671. 

Contrary to our assumption, if the pair turns down from the current levels and plummets below the 20-day EMA ($2.82), it will signal weakness. However, we give this a low probability of occurring.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Litecoin Foundation Produces Johnny Knoxville Horror Flick – BTC Ethereum Crypto Currency Blog

The Litecoin Foundation has acted as an executive producer for the recently released satanic heavy metal-themed comedic horror movie “We Summon the Darkness.”

The Litecoin Foundation acted as an executive producer for the heavy metal horror flick “We Summon the Darkness.”

The film was produced by the Los Angeles-based film production company and Litecoin advocates Common Enemy and was released digitally on April 10.

Litecoin Foundation among executive producers for comedy-horror film

On April 13, the Litecoin Foundation shared the trailer for a satanic heavy metal-themed comedic horror movie for which it acted as executive producer. The foundation’s logo can be seen in the trailer’s opening credits.

We Summon the Darkness stars Alexandra Daddario and Amy Forsyth, and also features an appearance from Johnny Knoxville. The movie premiered at Fantastic Fest in Texas during September 2019 and was released digitally last week.

The film was produced by Common Enemy, a production company Jarod Einsohn and Kyle Tekiela — with the foundation having previously described Tekiela as a Litecoin community volunteer. Three of the 11 videos currently hosted on Common Enemy’s YouTube channel promote Litecoin (LTC) as a means of payment. 

Litecoin Foundation engages the film industry to drive adoption

The Litecoin Foundation has been quietly working to cultivate a presence in the film world for roughly one year, with the organization sponsoring the San Diego International Film Festival in October 2019.

Festival-goers who purchased a six-day pass were given Litecoin they could donate to films accepted for screening at the event. The film to collect the most LTC donations would win the “Litecoin Foundation Award” and receive an additional $1,000 in Litecoin. Guy Davies’ “Philophobia” won the foundation’s award.

Litecoin creator Charlie Lee stated, “Mass adoption requires two things: awareness and real-world use cases. The film industry checks off both of these boxes in a compelling way.” 

Lee added, “Litecoin has the potential to be a powerful tool for film financing, and by collaborating with the creative and influential people in this space we have an opportunity to introduce Litecoin to millions of individuals across the globe.”

In May 2019, Anthony Mackie, the actor who played Hawkman in “The Avengers,” promoted Litecoin in an “Everything I Do In A Day” video published by Vanity Fair.

Original Article
Author: btcethereumadmin

Top Venezuelan Exchange Launches Support for Offline Bitcoin Transfers – BTC Ethereum Crypto Currency Blog

Venezuelan digital asset exchange Criptolago has introduced SMS-based cryptocurrency transfers.

Venezuelan crypto exchange Criptolago has announced that it will launch a text message-based payment system that can process transactions in Venezuela’s oil-backed Petro (PTR) and other cryptocurrencies.

The system may expose new segments of Venezuela’s population to cryptocurrencies amid the country’s ongoing hyperinflation crisis — with the value of the Venezuelan bolivar fluctuating by 1.58% in the past 24 hours and roughly 2,500% in 12 months.

Criptolago unveils SMS-based crypto transfers

In a tweet published on April 6, Criptolago stated that it developed the service in response to a call from the country’s president for financial companies to develop payment platforms parallel to the Venezuelan banking system that can process Petro transfers:

“Following the guidelines of our president @NicolasMaduro and in favor of our #criptonation, with the new function of Payments for #SMS we have opened the possibility for all the Venezuelan people to carry out #Petro transactions in a very practical way.”

The SMS-based payments system can also process offline transactions in all crypto assets supported on Criptolago, meaning that Venezuelans can now transfer Bitcoin (BTC), Litecoin (LTC), Dash (DASH), Venezuela bolivares and the proprietary token of the Venezuelan “investment cryptobank” Glufco without an internet connection.

With roughly 30% of Venezuela’s citizens unable to access the internet, Criptolago’s SMS-based payments system will likely enable new segments of the population to engage with cryptocurrencies. The service is exclusively available to registered users.

Venezuela is already the dominant source of volume on other offline crypto payment platforms — with the country representing 95% of the transactions using DashText since May 2019.

Venezuelans unable to agree on the price of Petro

Despite efforts from Venezuela’s president and former-bus driver Nicolas Maduro to mandate the use of PTR as a means of exchange in the country, an apparent uncertainty in the market makes the instrument unsuited for use as a currency.

According to local crypto news site Morocotacoin, on April 6, PTR was trading for $23 on Criptolago and $11.5 on AmberesCoin while official sources claimed Petro’s price to be above $50.

Original Article
Author: btcethereumadmin