Price Analysis 7/1: BTC, ETH, XRP, BCH, BSV, LTC, BNB, ADA, CRO, EOS – BTC Ethereum Crypto Currency Blog

Bitcoin and a few altcoins have bounced off their recent lows, suggesting that the sentiment remains to buy the dips.

Bitcoin (BTC), gold, crude oil, and the US equity markets all rose sharply throughout the second quarter of this year. This shows that investors’ appetites remain strong as they are confident that central banks will continue to keep the money supply flowing. 

While monetary easing can be a short-term solution, if it is not rolled back at the right time it can destroy the economy in the long-term, as seen in Zimbabwe.

Although the top-ranked asset on CoinMarketCap has been stuck in a range for the past few days, the participation from both institutional investors and retail investors has been increasing. This shows that informed investors have been buying Bitcoin for the long-term.

Daily cryptocurrency market performance. Source: Coin360

The third quarter has historically been the weakest quarter for the US stock markets, according to CFRA Research chief strategist Sam Stovall. If history were to repeat itself and the correlation between Bitcoin and the S&P 500 remains high, Bitcoin’s price action might remain subdued for a few more weeks.

BTC/USD

The bears were unable to take advantage of the breakdown from the trendline of the ascending triangle on June 27 as there was no follow up selling in Bitcoin (BTC) below $8,825. This indicates that selling dries up at lower levels.

BTC/USD daily chart. Source: Tradingview

Currently, the bulls are attempting to push the price back above the trendline. Even if they are successful, they will face stiff resistance at the 20-day exponential moving average ($9,314) and also at the 50-day simple moving average ($9,428).

A breakout of the 50-day SMA will signal strength and is likely to attract further buying, resulting in a move to $10,000.

This view will be invalidated if the BTC/USD pair turns down from the overhead resistance. In such a case, the bears will try to sink the price below $8,825 and if they succeed, a drop to $8,638.79 and $8,130.58 is possible.

ETH/USD

The rebound off $216.06 has reached the 20-day EMA ($230), which is likely to act as a stiff resistance, but if the bulls can push Ether (ETH) above this resistance a rally to $253.556 is possible.

ETH/USD daily chart. Source: Tradingview

Conversely, if the second-ranked cryptocurrency on CoinMarketCap turns down from the 20-day EMA, a retest of $216.006 is possible. A break below this support can result in a deeper correction to $200 and below that $176.112.

The 20-day EMA is flattening out and the relative strength index has risen to the midpoint, which suggests a balance between supply and demand. This could keep the ETH/USD pair range-bound for a few more days until the bulls drive the price above $253.56 and resume the uptrend.

XRP/USD

The relief rally in XRP could not scale above the $0.18 level, which shows a lack of buying support at higher levels. If the bears sink the price below $0.173278, a retest of the recent lows at $0.169012 is likely.

XRP/USD daily chart. Source: Tradingview

Both moving averages are sloping down and the RSI has been trading near the oversold zone, which suggests that bears are at an advantage.

A break below $0.169012 is likely to attract further selling that can drag the price to the support line of the descending channel. A break below the channel could intensify selling resulting in a drop to $0.14.

This bearish view will be invalidated if the bulls can push the fourth-ranked cryptocurrency on CoinMarketCap above the descending channel.

BCH/USD

After rising above $217.55, the buying in Bitcoin Cash (BCH) has dried up, which has resulted in a tight range trading for the past two days. A bounce off the current levels is likely to face stiff resistance at the moving averages.

BCH/USD daily chart. Source: Tradingview

The 20-day EMA ($232) is sloping down and the RSI is in the negative territory, suggesting that bears have the upper hand.

If the fifth-ranked cryptocurrency on CoinMarketCap slips below $217.55 a drop to the critical support at $200 is possible.

For this bearish sentiment to change the bulls will have to drive the BCH/USD pair above the 50-day SMA ($239).

BSV/USD

The relief rally in Bitcoin SV (BSV) fizzled out at $162.53 on June 28, which suggests that the bulls are hesitant to buy at higher levels. However, the bounce off the lows today indicates that lower levels are attracting some buying by the bulls.

BSV/USD daily chart. Source: Tradingview

Both moving averages are sloping down and the RSI is close to the oversold zone, which suggests that the path of least resistance is to the downside.

If the bears can sink the sixth-ranked cryptocurrency on CoinMarketCap below the $146.20–$135 support zone, the downtrend is likely to resume. The next target objective on the downside is $110.

Conversely, the first sign of strength would be a breakout and close (UTC time) above the breakdown level of $170.

LTC/USD

For the past three days, Litecoin (LTC) has been trading in a tight range of $40.5–$42, which shows that the bulls are struggling to carry the price higher. The 20-day EMA ($43) is sloping down and the RSI is in the negative zone, suggesting that the bears have the upper hand.

LTC/USD daily chart. Source: Tradingview

If the bears again sink the seventh-ranked cryptocurrency on CoinMarketCap below $41, a retest of $39 will be on the cards. A break below this critical support could signal the start of a new downtrend, with a short-term target objective of $35 and below it $32.50.

However, if buying picks up and the bulls are able to push the price above both moving averages, a rally to the resistance of the $39–$51 range is possible. The next trending move is likely to start after the LTC/USD pair breaks out of the range.

BNB/USD

The bulls are trying to propel Binance Coin (BNB) back above the overhead resistance at $15.72. Above this level, the recovery is likely to hit a wall at the 20-day EMA ($16).

BNB/USD daily chart. Source: Tradingview

If the eighth-ranked crypto-asset on CoinMarketCap turns down from the current levels or the 20-day EMA, the bears will attempt to sink the price below the immediate support at $14.80. Below this level, a drop to $13.65 is possible.

However, if the buyers can push the price above the 20-day EMA, a move to the 50-day SMA ($16.54) and then to $18.1377 is possible. The next trending move is likely to start after the BNB/USD pair breaks out of the large $13.65–$18.1377 range.

ADA/USD

Cardano (ADA) has broken out of the symmetrical triangle and the overhead resistance at $0.0901373, which indicates a resumption of the up move.

ADA/USD daily chart. Source: Tradingview

The pattern target of the breakout of the triangle is $0.10686 but it is unlikely to be a straight dash to the target as the bears might attempt to stall the uptrend at $0.10.

However, as both moving averages are sloping up and the RSI is close to the overbought territory, the advantage remains with the bulls.

This view will be invalidated if the ninth-ranked cryptocurrency on CoinMarketCap turns down from the current levels and plunges below $0.0901373.

CRO/USD

Crypto.com Coin (CRO) hit a swing high of $0.133539 on June 30, which was just below the target objective of $0.135202 as suggested in the previous analysis. A series of higher highs, supported by the upsloping moving averages, confirms an uptrend.

CRO/USD daily chart. Source: Tradingview

However, the bearish divergence on the RSI is warning that the uptrend might be weakening and a minor correction or consolidation is likely.

Sometimes, in strong uptrends, such divergences are invalidated as the asset continues the uptrend but traders should remain cautious when a divergence develops because several times they forecast a correction.

If the bears sink the 10th-ranked cryptocurrency on CoinMarketCap below the 20-day EMA ($0.116), it will be the first warning that the uptrend is weakening. A break below $0.11 will signal the likelihood of a deeper correction.

This view will be invalidated if the CRO/USD pair breaks above $0.133539 and resumes its journey towards the target objective of $0.135202 and then $0.15306.

EOS/USD

Although the bulls purchased the sharp dip on June 27, they are struggling to carry EOS higher, which suggests that buying dries up at higher levels. The price has been consolidating close to the $2.3314 support for the past three days.

EOS/USD daily chart. Source: Tradingview

If the price does not move up, the bulls might lose interest and that could result in another fall towards $2.1926.

The downsloping 20-day EMA ($2.49) and the RSI below 40 level suggests that bears have the advantage in the short-term. If the bears can sink the 11th-ranked cryptocurrency on CoinMarketCap below $2.1926, the decline can extend to $1.80.

This bearish view will be invalidated if the EOS/USD pair bounces off the current levels and breaks above 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

Price Analysis 6/29: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, CRO, ADA – BTC Ethereum Crypto Currency Blog

Bitcoin’s price dropped below the ascending triangle trendline, suggesting further bearish price action for BTC and altcoins.

The total crypto market capitalization has been stuck roughly between $240 billion and $280 billion for about two months. This range-bound action suggests that cryptocurrencies are waiting for a trigger to propel the market cap higher. As the saying goes, the longer the consolidation, the stronger  the eventual breakout from it will be. 

Daily cryptocurrency market performance. Source: Coin360

Researchers responsible for the recently published Crypto Research Report have projected a long-term target of $397,727 for Bitcoin (BTC) by 2030. For 2020, the report forecasts a target of $19,044. 

The researchers believe that the top-ranked asset on CoinMarketCap has penetrated only a fraction of its total addressable market, and over the next few years as the penetration increases, Bitcoin’s price is likely to surge. The report also projected bullish targets for several altcoins based on the same metric.

BTC/USD

Bitcoin (BTC) broke below the trendline of the ascending triangle on June 27. This has invalidated the bullish setup, which is a bearish sign. The bears are currently defending the trendline that has flipped from being a support to a resistance. 

BTC/USD daily chart. Source: Tradingview

If the BTC/USD pair turns down from the trendline, the bears will try to sink the price below $8,825. If the bears succeed, there is a minor support at $8,638.79 and if this level breaks down, a decline to $8,130.58 is possible.

The moving averages have completed a bearish crossover for the first time since mid-April, and the relative strength index is in the negative zone, which suggests that bears are at an advantage.

This bearish view will be invalidated if the pair breaks above the moving averages. Such a move will suggest strong buying at lower levels.

ETH/USD

Ether (ETH) broke below the $225.783 support on June 27. In doing so, the biggest altcoin also broke and closed (UTC time) below the 50-day simple moving average ($224) for the first time since April 16.

ETH/USD daily chart. Source: Tradingview

The bulls are currently attempting to push the second-ranked cryptocurrency on CoinMarketCap back above $225.783. The 20-day exponential moving average ($230) is just above this resistance.

If the bulls can propel the price above the 20-day EMA, the pair might attempt to rally to $253.556.

Conversely, if the price turns down from either resistance, the bears will try to sink the ETH/USD pair below $216.006. If successful, a drop to $200 and then to $176.112 is possible.

XRP/USD

XRP is currently trading inside a descending channel, and both moving averages are sloping down, and the RSI is close to the oversold zone. This suggests that bears have the upper hand.

XRP/USD daily chart. Source: Tradingview

Although the bulls purchased the dip to the support line of the channel on June 27, they are struggling to carry the price to the resistance line of the channel, which is a bearish sign.

If the fourth-ranked cryptocurrency on CoinMarketCap turns down from the current levels or from the resistance line of the channel, the bears will try to resume the down move.

A break below the support line of the channel will intensify selling, and the first strong support on the downside is at $0.14. If this support breaks down, the decline can extend to $0.124412, which is the pattern target of the breakdown from the triangle.

Contrary to the assumption, if the bulls can push the price above the channel, then this could signal the start of a trend change.

BCH/USD

Bitcoin Cash (BCH) broke below the immediate support at $217.55 on June 27 and fell to a low of $204.93. The bulls purchased this dip and pushed the price back above $217.55 on June 28, which suggests demand at lower levels.

BCH/USD daily chart. Source: Tradingview

However, the bears are not allowing the bulls to have it easy. The downsloping 20-day EMA ($233) and the RSI below 40 level suggests that bears have the upper hand. They will again attempt to sink the fifth-ranked cryptocurrency on CoinMarketCap below $200. 

If successful, a new downtrend is likely. The first support on the downside is at $180, and if that cracks, the next level to watch out for is $140.

If the BCH/USD pair rebounds off $200 again, it will increase the possibility of a move to $240.

BSV/USD

Bitcoin SV (BSV) plummeted to $135 on June 27 and currently, both moving averages are sloping down as the RSI is close to oversold levels. This suggests that the trend favors the bears.

BSV/USD daily chart. Source: Tradingview

The bulls are currently attempting a pullback, which is likely to face stiff resistance at the breakdown level of $170. If the sixth-ranked cryptocurrency on CoinMarketCap turns down from this level, the bears will try to resume the downtrend and sink the price to $110.

Another possibility is that the BSV/USD pair turns down from $170 but stays above $135. In such a case, a few days of range-bound action is likely. The bearish view will be negated if the pair rises and sustains above $170.

LTC/USD

Litecoin (LTC) plunged below $41 and hit a low of $39.1843 on June 27. Currently, both moving averages are sloping down, and the RSI is close to the 40 level, which suggests that bears have the upper hand.

LTC/USD daily chart. Source: Tradingview

Although the seventh-ranked cryptocurrency on CoinMarketCap bounced sharply from $39.1843, the bulls are struggling to sustain the price above $41. This suggests a lack of buyers at higher levels.

If the LTC/USD pair does not break out of the 20-day EMA ($43.26) within the next few days, the bears are likely to make another attempt to break below the $39 support. If they succeed, the price could drop to $34.

This bearish view will be invalidated if the pair bounces off the current levels and rises above the moving averages. This will open up the possibility of a rally back to $51.

BNB/USD

Binance Coin (BNB) broke below the immediate support of $15.72 on June 27 and fell to a low of $14.80. The bulls purchased this dip, but they are struggling to push the price back above the breakdown level of $15.72.

BNB/USD daily chart. Source: Tradingview

This suggests a lack of buyers at higher levels. If the eighth-ranked crypto-asset on CoinMarketCap turns down from $15.72, the bears will try to extend the decline to $13.65.

The downsloping 20-day EMA ($16) and RSI below 40 level suggests that bears have the upper hand. This bearish view will be invalidated if the bulls push the price above the moving averages. 

EOS/USD

EOS broke below the critical support at $2.3314 on June 27, but the bulls purchased this dip and pushed the price back into the $2.3314–$2.8319 range. However, the rebound lacks strength, suggesting that demand dries up at higher levels.

EOS/USD daily chart. Source: Tradingview

The 20-day EMA continues to slope down, and the RSI is close to the oversold levels, which shows that bears have the upper hand.

If the bulls fail to push the price above the 20-day EMA ($2.51), the bears will make another attempt to sink the ninth-ranked cryptocurrency on CoinMarketCap below the $2.3314–$2.1926 support. If this zone cracks, a decline to $1.80 is likely.

This bearish view will be invalidated if the EOS/USD pair rebounds off the current levels and rises above the moving averages.

CRO/USD

Crypto.com Coin (CRO) bounced off the 20-day EMA ($0.114) on June 28, suggesting that the bulls continue to view dips as buying opportunities. The upsloping moving averages also show that the trend favors the bulls.

CRO/USD daily chart. Source: Tradingview

The 10th-ranked cryptocurrency on CoinMarketCap has risen above the immediate resistance of $0.118234 and is now likely to retest the highs at $0.126245. A breakout of the highs can result in a rally to $0.135202 and then to $0.15306.

The only negative development on the chart is the bearish divergence on the RSI. This suggests that the uptrend is weakening. If the bulls fail to sustain new highs, it could result in a pullback below $0.11. Therefore, traders should exercise caution. 

ADA/USD

Cardano (ADA) has formed a symmetrical triangle. The 20-day EMA ($0.0797) is gradually moving higher, and the RSI has bounced off the 50 level, which suggests that bulls are at a slight advantage.

ADA/USD daily chart. Source: Tradingview

The first sign of strength will be a breakout and close (UTC time) above the resistance line of the triangle. If the momentum can carry the 11th-ranked cryptocurrency on CoinMarketCap above $0.0901373, the uptrend is likely to resume. 

The next target on the upside is $0.10 and above it $0.10686, which is the pattern target of the breakout from the triangle.

Conversely, if the bears sink the ADA/USD pair below the support line of the symmetrical triangle, a drop to $0.069488 is possible. Below this level, the decline can extend to $0.0549, which is the pattern target of the breakdown from the triangle.

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 6/26: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, CRO – BTC Ethereum Crypto Currency Blog

Bitcoin price continues to lose momentum, signaling the possible start of a deeper correction below $8,200.

Grayscale Investments has been taking in Bitcoin (BTC) at a frantic pace. In the last week alone, the fund gobbled up 19,879 Bitcoin, which is way over the 7,081 Bitcoin mined during the period, according to crypto researcher Kevin Rooke. This shows that demand far exceeds supply at the moment, which is a positive sign.

However, Tone Vays believes that if the S&P 500 breaks below 3,000, it could fall another 12%. Due to the strong correlation between the S&P 500 and Bitcoin a crash in the equity markets could drag the top-ranked asset on CoinMarketCap to the $7,000 levels. Vays expects Bitcoin to consolidate “between $6,000 and $10,000 for the majority of this year.”

Daily cryptocurrency market performance. Source: Coin360

Social Capital CEO and Virgin Galactic Chairman Chamath Palihapitiya has once again suggested that investors should put about 1% of their money in Bitcoin as an insurance against bad government financial decisions.

However, Palihapitiya does not want Bitcoin to skyrocket to the moon because he believes that such a move will happen only if the financial system collapses and that would wreck the lives of friends and family who are not hedged in Bitcoin.

BTC/USD

Currently, the bulls are attempting to defend the trendline of the ascending triangle. If Bitcoin (BTC) bounces off this level and rises above the moving averages it will signal that investors remain keen to buy each dip.

BTC/USD daily chart. Source: Tradingview

The critical level to watch on the upside is the $10,000–$10,500 zone because if the bulls can propel the price above this area a new sustained uptrend is likely.

Conversely, if the rebound off the trendline of the triangle turns down from the moving averages, it will increase the possibility of a break below the triangle. If that happens a deeper correction is likely.

The first support is at $8,638.70 but if this level cracks, the decline can extend to $8,130.58. This is a critical support, hence, the bulls are likely to defend this level aggressively.

ETH/USD

Ether (ETH) has dropped to the support at $225.783. The 50-day simple moving average ($223) is just below this level, hence, the bulls are likely to aggressively defend the $225.783–$218.331 zone.

ETH/USD daily chart. Source: Tradingview

A strong bounce off the support zone is likely to keep the second-ranked cryptocurrency on CoinMarketCap between $225.783 and $253.556 for a few more days. The flat 20-day exponential moving average ($233) and the relative strength index just below the midpoint also supports this view.

However, if the bears sink the price below the $225.783–$218.331 support zone, the ETH/USD pair is likely to start a deeper correction that can reach $200 and below that $176.112.

XRP/USD

XRP closed (UTC time) below the support line of the symmetrical triangle on June 24, which completed the pattern. The target objective of this breakdown is $0.124412.

XRP/USD daily chart. Source: Tradingview

Both moving averages are sloping down and the RSI is below the 40 level, which suggests that bears are in command. The next support on the downside is $0.16 and if that breaks, a drop to $0.14 is possible. Any pullback is likely to face stiff resistance at the 20-day EMA ($0.19).

This bearish view will be invalidated if the fourth-ranked cryptocurrency on CoinMarketCap rises and breaks above the downtrend line of the triangle. Such a move will suggest that the current breakdown was a bear trap.

BCH/USD

The bulls have not been able to sustain Bitcoin Cash (BCH) above the moving averages and the bears have failed to sink the price below the immediate support at $217.55.

BCH/USD daily chart. Source: Tradingview

The 20-day EMA ($238) has been sloping down gradually and the RSI has been trading between 40 and 50 levels. This suggests that bears are trying to make a comeback.

A break below $217.55 will be the first indication that bears have gained the upper hand. Below this level, a drop to $200 is possible.

Alternatively, if the fifth-ranked cryptocurrency on CoinMarketCap breaks above the moving averages, a move to $255.46 is likely. A break above this resistance will indicate the advantage is with the bulls.

BSV/USD

The bulls are struggling to keep Bitcoin SV (BSV) inside the large $170–$227 range. Both moving averages are sloping down and the RSI has slipped below 40, which suggests that bears have the upper hand.

BSV/USD daily chart. Source: Tradingview

If the sixth-ranked cryptocurrency on CoinMarketCap drops below the $170– $165.380 support zone, the decline can extend to $146.10. If the strong downward momentum breaks below this level, the next target is $110.

The possibility is low, but if the BNB/USD pair bounces off the current levels and breaks out of the moving averages it can move up to $209. Above this level, a rally to $227 is possible.

LTC/USD

Litecoin (LTC) has been gradually moving lower for the past few days. On the upside, the bears are defending the moving averages while the bulls are attempting to hold the altcoin above the immediate support at $41.

LTC/USD daily chart. Source: Tradingview

Today, the seventh-ranked cryptocurrency on CoinMarketCap bounced sharply from $41.3866, which is a positive sign. If the bulls can push the price above the moving averages, a rally to $47.50 and above it to $51 is possible.

Conversely, if the LTC/USD pair again turns down from the moving averages, the bears will attempt to sink the price below $41. If successful, a drop to $39 is likely.

BNB/USD

Binance Coin (BNB) is struggling to stay above the $15.72–$15.40 zone. This suggests that the bulls are not confident that the support will hold, hence, they are not buying in a hurry even at these levels.

BNB/USD daily chart. Source: Tradingview

The 20-day EMA ($16.36) is sloping down and the RSI has dipped below the 40 which suggests that bears have the upper hand. A drop below the support zone can result in a fall to $15 and then to $13.65.

Contrary to this assumption, if the eighth-ranked crypto-asset on CoinMarketCap rebounds off the current levels and rises above the moving averages, a move to $18.1377 is likely. However, the possibility of such a move looks bleak.

EOS/USD

EOS rebounded off $2.3889, which suggests that the bulls have still not given up on the altcoin. However, until the price remains below the moving averages it will continue to face selling from the bears.

EOS/USD daily chart. Source: Tradingview

If the price again turns down from the moving averages, the bears will make one more attempt to break below $2.3314. If they succeed a new downtrend is likely. The first support on the downside is $2.00 followed by $1.80.

The gradually downsloping moving averages and the RSI oscillating between 40 and 50 level suggests that bears have the upper hand.

This bearish view will be invalidated if the bulls can propel the ninth-ranked cryptocurrency on CoinMarketCap above the moving averages.

ADA/USD

Cardano (ADA) has held the 20-day EMA ($0.079) for the past two days but the bulls are struggling to sustain the rebound. This suggests that higher levels are attracting selling by the bears.

ADA/USD daily chart. Source: Tradingview

The 20-day EMA is still gradually sloping up and the RSI has been consolidating between 54 and 62 levels, which suggests that bulls have a minor advantage.

A breakout and close (UTC time) above $0.085 will signal strength. Above this resistance, a retest of $0.0901373 will be on the cards. If this level is scaled, the 10th-ranked cryptocurrency on CoinMarketCap can rally to $0.10.

Conversely, if the bears sink the ADA/USD pair below the 20-day EMA, a deeper correction is likely. The next support zone on the downside where buyers might step in is $0.0722722–$0.0694880.

CRO/USD

Crypto.com Coin (CRO) slipped below the $0.118234 support on June 25. However, the uptrend is intact as both moving averages are sloping up and the price remains in the positive territory.

CRO/USD daily chart. Source: Tradingview

The gradual fall from the recent highs suggests that only a few bulls have closed their positions, which is a positive sign.

If the 11th-ranked cryptocurrency on CoinMarketCap rebounds off the 20-day EMA ($0.112), the buyers will attempt to resume the uptrend. Momentum is likely to pick up above $0.126245 and the target levels to watch out for are $0.135202 and then $0.15306.

This bullish view will be negated if the CRO/USD pair breaks and sustains below the 20-day EMA. Such a move can drag the price to $0.101266.

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 6/24: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, CRO – BTC Ethereum Crypto Currency Blog

A few major cryptocurrencies are close to breaking below their critical support levels, indicating further downside in the next few days.

Coronavirus cases are jumping across the world as nations reopen their economies and this raises the risk of a second wave which could slow down the current recovery in major markets. Global debt levels are already at astronomical levels but it seems safe to assume that a resurgence in cases will result in central banks pumping more liquidity into the markets.

OKEx CEO Jay Hao recently said that Bitcoin (BTC) rallied about 58% from $6,580 to $10,400 after the first stimulus bill was signed in late March. There are also expectations that the Trump Administration may announce a second $1 trillion stimulus package. 

If this happens, Hao believes that a portion of funds from investors will re-enter Bitcoin as institutional investors “spread their risk across risk and haven assets.”

Daily cryptocurrency market performance. Source: Coin360

Even if institutional investors park roughly 1% of their money in the top-ranked cryptocurrency on CoinMarketCap, this could result in an inflow of about $480 billion. According to Messari researcher Ryan Watkins, this fresh influx could boost “Bitcoin’s market cap above $1 trillion, or over $50,000 per BTC.”

This suggests that the long-term prospects for Bitcoin are strong, hence, any weakness can present an opportunity to buy at lower levels.

BTC/USD

Bitcoin (BTC) showed promise on June 22 but the rally fizzled out at $9,795.06. This suggests that a huge wall of sellers is defending the $10,000–$10,500 resistance zone. The price turned down sharply and plunged below the moving averages today.

BTC/USD daily chart. Source: Tradingview

The repeated failure of the bulls to break above the resistance zone could attract long liquidations from short-term traders. If the bears take advantage of this and sink the price below the trendline of the ascending triangle, a drop to $8,638.70 and below that to $8,130.58 is possible.

If the BTC/USD pair rebounds off $8,130.58, it could point to a few days of range-bound trading between $8130.58–$10,000. The view will turn bearish if the bears sink the pair below the critical support at $8,130.58. 

Alternatively, if the price rebounds off the trendline of the triangle, the bulls will make one more attempt to push the price to $10,000 levels. 

ETH/USD

Ether (ETH) turned down from just under the overhead resistance of $253.556 today, which suggests that bears are defending this level aggressively. This could keep the biggest altcoin range-bound between $225.783 and $253.556 for a few days.

ETH/USD daily chart. Source: Tradingview

The flat moving averages and the relative strength index just above the 50 level also suggests a balance between supply and demand.

This advantage will tilt in favor of the bears if they can sink the second-ranked cryptocurrency on CoinMarketCap below $225.783–$218.331 support zone. If this zone cracks, a drop to $200 and below it to $176.112 is likely.

Conversely, if the ETH/USD pair rebounds off the 20-day exponential moving average ($224), the bulls might make one more attempt to push the price above $253.556. If the price sustains above this level, the uptrend is likely to resume.

XRP/USD

XRP has broken down from the support line of the symmetrical triangle. If the bears can sustain the price below the triangle, a new downtrend is likely. 

XRP/USD daily chart. Source: Tradingview

The downsloping moving averages and the failure of the RSI to even reach 50 level suggests that bears have the upper hand. The pattern target of this breakdown is $0.124412.

However, it is unlikely to be a straight fall as the bulls will try to stall the decline at $0.16 and then at $0.14.

This bearish view will be invalidated if the fourth-ranked cryptocurrency on CoinMarketCap reverses direction and rises above both moving averages. However, the possibility of such a move looks bleak.

BCH/USD

Although Bitcoin Cash (BCH) rose above the moving averages today, the bulls could not sustain the higher levels. The altcoin quickly turned around and dipped below the moving averages.

BCH/USD daily chart. Source: Tradingview

The bears will now try to sink the fifth-ranked cryptocurrency on CoinMarketCap to $217.55. This level has been holding up well for the past several days, hence, the bulls are likely to defend it aggressively once again.

A bounce off $217.55 will keep the BCH/USD pair range-bound between $217.55–$255.46 for a few more days. Both moving averages are flattish and the RSI has been oscillating between 40 and 50, which also suggests a range-bound action but with a negative bias.

BSV/USD

The rebound in Bitcoin SV (BSV) hit a wall at the 20-day EMA ($180), which is a negative sign. The 20-day EMA is sloping down gradually and the RSI is in the negative territory, suggesting advantage to the bears.

BSV/USD daily chart. Source: Tradingview

If the bears can sink the price below the support at $170, the sixth-ranked cryptocurrency on CoinMarketCap is likely to start a new downtrend. This will be a huge negative as it can result in a decline to $146.20 and then to $110.

However, if the BSV/USD pair rebounds off $170, the bulls will make another attempt to push the price above the moving averages. If that happens, the pair is likely to remain range-bound between $170–$227.

LTC/USD

The bears are not allowing Litecoin (LTC) to rise above the moving averages. This is the third such occasion (marked as ellipses on the chart) when the price has turned down from the moving averages. 

LTC/USD daily chart. Source: Tradingview

If the seventh-ranked cryptocurrency on CoinMarketCap slips below $41.63, it can dip to the critical support at $39. This support has not been broken down convincingly since April 2, hence, the bulls are likely to mount a strong defense of this level.

A sharp rebound off $39 can keep the LTC/USD pair inside the large $39–$51 range for a few more days. 

The 20-day EMA ($44) has started to turn down gradually and the RSI has been struggling to climb above the 50 level, which suggests a minor advantage to the bears. This bearish view will be invalidated if the pair turns around and rises above the moving averages.

BNB/USD

Binance Coin (BNB) has turned down from the moving averages. The bears will now try to sink the price below the immediate support zone of $15.72–$15.40. If they succeed, the altcoin is likely to turn weak in the short-term. 

BNB/USD daily chart. Source: Tradingview

Below the $15.72–$15.40 support zone, the selling is likely to pick up that can drag the eighth-ranked crypto-asset on CoinMarketCap to the critical support at $13.65.

The gradually downsloping 20-day EMA ($16.50) and the failure of the RSI to cross above the 50 level suggests a slight advantage to the bears.

However, if the bears do not take advantage of this situation, the BNB/USD pair is likely to bounce off the support zone once again.

EOS/USD

EOS again turned down from the moving averages. This suggests that the bears are aggressively defending this resistance. Repeated failure to break out of a resistance results in long liquidation by short-term traders.

EOS/USD daily chart. Source: Tradingview

That could drag the ninth-ranked cryptocurrency on CoinMarketCap to the critical support at $2.3314. As this support has not been breached convincingly since April 6, the bulls are likely to defend it aggressively once again.

However, if the selling picks up momentum and sinks the EOS/USD pair below $2.3314, a new downtrend is likely. The next key support on the downside is $2 and then $1.80.

This negative view will be invalidated if the pair turns around from the current levels or  $2.3314 and rises above the moving averages.

ADA/USD

Although the bulls carried Cardano (ADA) above $0.085, they have not been able to sustain the breakout. This suggests that bears are aggressively defending the $0.085–$0.0901373 zone. 

ADA/USD daily chart. Source: Tradingview

The 10th-ranked cryptocurrency on CoinMarketCap has again dipped back below $0.085 and the bears will now try to sink the price below the 20-day EMA ($0.079).

If they are successful, the short-term traders are likely to close their positions that can drag the price of the ADA/USD pair to the $0.0722722–$0.0694880 support zone.

However, if the pair again bounces off the 20-day EMA, the bulls will make one more attempt to propel the price to $0.0901373.

CRO/USD

Crypto.com Coin (CRO) is facing selling above $0.125 levels. The sharp downturn in price today has pulled the RSI back below 70 and it has started forming a bearish divergence as suggested in the previous analysis.

CRO/USD daily chart. Source: Tradingview

If the 11th-ranked cryptocurrency on CoinMarketCap breaks down and sustains below $0.118234, it will signal weakness.

The uptrend will be in danger of being broken if the bears sink the price below the 20-day EMA ($0.111). Below this level, a drop to $0.101266 is likely.

This view will be invalidated if the CRO/USD pair bounces off the 20-day EMA. In such a case, the bulls will once again attempt to resume the up move.

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 6/22: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, CRO, ADA – BTC Ethereum Crypto Currency Blog

Bitcoin is flashing some bullish signals as volatility is expected to pick up over the next few days.

The current economic environment has made it difficult for pension funds to sustain their expected rate of return. The U.S. Federal Reserve has continued along the path of cutting rates to zero and it seems likely to keep them there for at least a couple of years. This means pension funds may be forced to explore other strategies to increase their returns.

Morgan Creek Digital co-founder Anthony Pompliano has suggested that pension funds allocate a small amount of 1 to 5 percent of their portfolios to Bitcoin (BTC). Such a move “would increase the risk-adjusted returns for a public pension fund,” according to Pompliano.

Daily cryptocurrency market performance. Source: Coin360

However, several traditional investors remain skeptical of the top-ranked cryptocurrency on CoinMarketCap. Although investment guru Jim Rogers believes that people who use cryptocurrency are smarter than governments, he also predicted that governments will use their armed power to make cryptocurrencies worthless.

BTC/USD

The largest digital asset on CoinMarketCap has been consolidating near the overhead resistance zone of $10,000–$10,500 for the past few weeks. In doing so, it has formed an ascending triangle, which is a bullish setup.

BTC/USD daily chart. Source: Tradingview

For the uptrend to resume, the bulls will have to push the price above the $10,000–$10,376.38 resistance zone. This will complete the bullish pattern, which has a target objective of $11,869.42.

If the BTC/USD pair reverses direction from the current levels or from the overhead resistance, the bears will try to sink the price below the trendline of the triangle. Such a breakdown will weaken sentiment and attract selling by the short-term traders.

Selling could intensify on a break below $8,910.04 and this could sink the pair to a critical support at $8,130.58.

ETH/USD

Ether (ETH) has bounced sharply off the $225.783 support and has cleared the hurdle at $239.45. This suggests renewed buying interest in the biggest altcoin. The next level to watch out for is $253.556.

ETH/USD daily chart. Source: Tradingview

If momentum picks up, the second-ranked cryptocurrency on CoinMarketCap is likely to break out of $253.556 and move towards $288.599. This is an important resistance level, which is likely to be defended aggressively by the bears.

This bullish view will be invalidated if the ETH/USD pair reverses direction from the current levels or from $253.556 and breaks below the 50-day simple moving average ($220). Below this level, a drop to $200 and then to $176.112 is possible.

XRP/USD

XRP closed (UTC time) below the support line of the symmetrical triangle on June 21 but the price has quickly turned around and re-entered the triangle. This suggests a lack of follow up selling at lower levels.

XRP/USD daily chart. Source: Tradingview

If the fourth-ranked cryptocurrency on CoinMarketCap rises above the 20-day exponential moving average ($0.19) a move to the downtrend line of the triangle is possible. A breakout of this level will signal advantage to the bulls.

However, if the XRP/USD pair turns down from the 20-day EMA, it will indicate a lack of demand at higher levels. In such a case, the bears will once again try to sink the price below the triangle. If they are successful, a new downtrend is likely.

BCH/USD

Bitcoin Cash (BCH) has been trading between $255.46–$217.55 for the past few days. The flat moving averages and the RSI close to the midpoint suggests that the range-bound action is likely to continue for a few more days. Trading in a small range can be difficult because the price action is usually choppy.

BCH/USD daily chart. Source: Tradingview

If the bulls drive the fifth-ranked cryptocurrency on CoinMarketCap above the moving averages, a rally to $255.46 is possible.

This is an important level to watch out for because a few days back, it had acted as a stiff resistance (marked via ellipse on the chart). Therefore, a breakout of it will be the first indication that the bulls are back in the game.

This view will be invalidated if the BCH/USD pair turns down from the moving averages. In such a case a drop to $217.55 is possible.

BSV/USD

The bears have not been able to sink Bitcoin SV (BSV) below the critical support at $170. This suggests a lack of sellers at lower levels. This has kept the price inside the $170–$227 range.

BSV/USD daily chart. Source: Tradingview

The bulls are currently attempting to carry the sixth-ranked cryptocurrency on CoinMarketCap above the 20-day EMA ($180). If that happens, a move to the 50-day SMA ($190) and then to $200 is likely.

However, if the price turns down from the 20-day EMA, it will be a negative sign as it will indicate a lack of buyers at higher levels. That will increase the possibility of a break below the critical support at $170.

LTC/USD

Litecoin (LTC) is getting squeezed between the moving averages and $42. If the bulls can push the price above the moving averages, a move to $47 and then to $51 is possible. The bears are likely to defend this level aggressively.

LTC/USD daily chart. Source: Tradingview

If the seventh-ranked cryptocurrency on CoinMarketCap turns down from $51, the range-bound action is likely to extend for a few more days.

However, if the bulls fail to sustain the price above the moving averages, the bears will make another attempt to sink the LTC/USD pair to $39.

The next trending move is likely to start after the pair breaks out of the range. Until then, the volatile range-bound action is likely to continue.

BNB/USD

Binance Coin (BNB) has been trading in the top half of the $13.65–$18.1377 range for the past few days. On June 20, the bears attempted to sink the price below the $15.72 support but failed.

BNB/USD daily chart. Source: Tradingview

This suggests that the bulls are aggressively defending the $15.72 level. Currently, the eighth-ranked crypto-asset on CoinMarketCap has bounced off the support and the bulls are attempting to propel the price above the moving averages.

If successful, a move to $18.1377 will be on the cards. A breakout of this resistance will signal the possible start of a new uptrend.

However, if the bears again defend the moving averages, the price might dip back to $15.72. A breakdown of this support can drag the price down to $13.65.

EOS/USD

EOS remains stuck inside the $2.3314–$2.8319 range. The flat moving averages and the RSI just below the 50 level suggests that this range-bound action is likely to continue for a few more days.

EOS/USD daily chart. Source: Tradingview

Currently, the bulls are attempting to push the price above the moving averages. If successful, the ninth-ranked cryptocurrency on CoinMarketCap can move up to $2.8319, which is a critical resistance to watch out for.

Conversely, if the EOS/USD pair turns down from the moving averages, the bears will attempt to break the critical support of $2.3314. If they succeed, the pair can decline to $2 and below it to $1.80.

CRO/USD

Crypto.com Coin (CRO) broke above the overhead resistance of $0.118234 on June 20 and resumed the up move. The trend remains strong with both moving averages separating out and the price well above the 20-day EMA ($0.1090).

CRO/USD daily chart. Source: Tradingview

The bulls will now try to carry the 10th-ranked cryptocurrency on CoinMarketCap to $0.135202 and if that resistance is crossed, the next target is $0.15306.

The only warning sign on the chart is the possibility of the RSI forming a bearish divergence. However, until the price slips and sustains below $1.118234, there is no danger to the uptrend.

This bullish view will be invalidated if the CRO/USD pair turns down and slides below the 20-day EMA. Such a move will indicate selling at higher levels.

ADA/USD

The dip from $0.0844398 on June 18 was short lived as the bulls defended the 20-day EMA ($0.078) aggressively. This suggests that the bulls continue to buy the dips as they expect Cardano (ADA) to resume its rally.

ADA/USD daily chart. Source: Tradingview

The trend is bullish as both moving averages are sloping up and the RSI is in the positive territory. A breakout of the downtrend line and the $0.085 resistance will signal the possibility of a retest of $0.0901373.

Contrary to this assumption, if the 11th-ranked cryptocurrency on CoinMarketCap turns down from the downtrend line, the bears will try to sink it to the $0.0722722–$0.0694880 support zone.

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 6/19: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, CRO – BTC Ethereum Crypto Currency Blog

Most major cryptocurrencies are stuck in a range suggesting a balance between supply and demand.

Kraken crypto exchange CEO Jesse Powell has said that a large number of both retail and institutional investors have opened accounts with them. This shows that all types of investors are concerned about the current economic condition, hence they have been diversifying their portfolio using cryptocurrencies. The influx of institutional money is a positive sign because it will give confidence to the other institutions to take the plunge.

WisdomTree Investments, a New York-based asset manager has sought approval to launch an exchange-traded fund that plans to invest about 5% of its net assets in cash-settled Bitcoin (BTC) futures and the rest in four commodity sectors. If the ETF receives the regulatory nod, it would be a huge positive.

Daily cryptocurrency market performance. Source: Coin360

For the past few days, the S&P 500 has been rising but BTC, the top-ranked cryptocurrency on CoinMarketCap, has stalled. PlanB, the creator of the stock-to-flow model, said that both assets are highly correlated but their current performance is showing a large divergence in the short-term. Hence, he anticipates either the stock market to correct or Bitcoin to rally.

BTC/USD

Bitcoin (BTC) has been facing stiff resistance at the 20-day exponential moving average ($9,476) for the past few days. The flat 20-day EMA and the RSI just below the 50 level suggest that the bulls are losing their grip.

BTC/USD daily chart. Source: Tradingview

If the bears sink the price below the trendline of the developing ascending triangle pattern, a drop to $8,638.79 and then to $8,130.58 is likely. If the price rebounds off this strong support, the BTC/USD pair might remain range-bound for a few days. However, if the pair slips below $8,130.58, it would be a huge negative.

On the other hand, if the bulls can scale the price above the 20-day EMA, a move to $10,000 is possible. A breakout of the $10,000–$10,376.38 zone will complete the bullish ascending triangle pattern that has a target objective of $11,869.42.

ETH/USD

Ether (ETH) is currently consolidating between $225.873 and $239.35. The 20-day EMA ($232) has flattened out and the RSI is close to the midpoint, suggesting a balance between supply and demand.

ETH/USD daily chart. Source: Tradingview

A break below $225.783 and the 50-day simple moving average ($219) will tilt the advantage in favor of the bears. The next support on the downside is $196.875 and then the critical level of $176.112.

Conversely, if the second-ranked cryptocurrency on CoinMarketCap rebounds off the current level and breaks out of $239.35, a move to $253.55 is possible. Above this resistance, the momentum is likely to pick up and the next level to watch out for is $288.599.

While in a range, it is difficult to predict which way the breakout will happen. Therefore, it is best to wait for the price to start a trending move before initiating any trades.

XRP/USD

XRP has dipped to the support line of the symmetrical triangle. The downsloping 20-day EMA ($0.195) and the RSI in the negative territory suggest that bears have the upper hand.

XRP/USD daily chart. Source: Tradingview

If the altcoin breaks and closes (UTC time) below the triangle, the bears will try to drag the price to $0.162 and then to $0.144.

This bearish view will be invalidated if the fourth-ranked cryptocurrency on CoinMarketCap turns around from the current levels and breaks out of the downtrend line of the triangle. A close (UTC time) above the triangle can push the price to $0.214616 and then to $0.235688.

BCH/USD

Bitcoin Cash (BCH) turned down from the moving averages on June 17. The bears are currently attempting to sink the price to the support at $217.55. If this support cracks, the decline can extend to $200.

BCH/USD daily chart. Source: Tradingview

Conversely, if the fifth-ranked cryptocurrency on CoinMarketCap turns up from the current levels, the bulls will try to push it back above the moving averages. If successful, a move to $255.46 is possible.

If the BCH/USD pair turns down from this level, the range-bound action is likely to extend for a few more days. However, if the bulls can propel the pair above $255.46, a rally to $280.47 is likely. This is a critical resistance because above this, the rally can extend to $350.

BSV/USD

The bears are attempting to sink Bitcoin SV (BSV) below the $170–$165.380 support zone. The 20-day EMA ($183) is sloping down and the RSI has drifted below the 40 level, which suggests that bears have the upper hand.

BSV/USD daily chart. Source: Tradingview

Although a fall to the support of a large range is usually a good level to buy, traders should wait for the price to rebound before initiating any long positions because, on the way down, there is a risk that the support might not hold.

A break below the support zone will indicate that the bears have overpowered the bulls. The next support on the downside is $146.2 and if that also breaks, the decline can extend to $120.

Conversely, if the sixth-ranked cryptocurrency on CoinMarketCap rebounds off the current levels and breaks above the moving averages, it will increase the possibility of a rally to $200 and then $227.

LTC/USD

The bears again defended the moving averages on June 19. If Litecoin (LTC) breaks below $41.7326, a drop to the support at $39 is possible. This is a critical level to watch out for because if it breaks, the next support is at $32.50.

LTC/USD daily chart. Source: Tradingview

However, if the seventh-ranked cryptocurrency on CoinMarketCap rises from the current levels and breaks above the moving averages, the bulls will attempt to carry it to the resistance at $51.

If the LTC/USD pair turns down from this level, a few more days of range-bound action is likely. However, if the bulls can propel the price above $51, the momentum is likely to pick up with the next target objective being $64.

BNB/USD

Binance Coin (BNB) has again dropped to the support of the $15.72–$18.1377 range. Repeated retests of a support level tend to weaken it. The downsloping 20-day EMA ($16.70) and the RSI in the negative territory suggest that bears have the upper hand.

BNB/USD daily chart. Source: Tradingview

If the eighth-ranked crypto-asset on CoinMarketCap breaks below the $15.72–$15.40 support, a drop to $13.65 is possible.

Conversely, if the BNB/USD pair rebounds off the current levels and breaks above the moving averages, a rally to $18.1377 is possible. A breakout of this resistance can attract buyers who can push the price to $21.50.

EOS/USD

EOS has again turned down from just below the moving averages. The 20-day EMA ($2.61) is gradually sloping down and the RSI is in the negative territory, which suggests that bears have a slight advantage.

EOS/USD daily chart. Source: Tradingview

The bears will now try to sink the ninth-ranked cryptocurrency on CoinMarketCap to the critical support at $2.3314. A breakdown of this support will be a negative sign and could result in a new downtrend.

Conversely, if the EOS/USD pair rises from the current levels and breaks above the moving averages, it can reach $2.8319. This level has been acting as stiff resistance for the past few weeks. If the pair again turns down from this resistance, a few more days of range-bound action is likely.

On the other hand, if the bulls can push the price above $2.8319, a rally to $3.1104 is possible.

ADA/USD

The bears are attempting to stall Cardano’s (ADA) rally at $0.085. However, the positive thing is that they have not been able to break the price below the 20-day EMA ($0.077), suggesting demand at lower levels.

ADA/USD daily chart. Source: Tradingview

If the bulls can carry the price above $0.085, the 10th-ranked cryptocurrency on CoinMarketCap can reach the recent highs at $0.0901373. A breakout of this resistance will signal resumption of the uptrend.

This bullish view will be invalidated if the ADA/USD pair slips and sustains below the 20-day EMA. Such a move can drag the pair to $0.069488 and if this support gives way, the next level to watch out for is the 50-day SMA ($0.064).

CRO/USD

Crypto.com Coin (CRO) has reached close to the overhead resistance of $0.118234. Both the upsloping moving averages and the RSI near the overbought territory suggest that bulls have the upper hand.

CRO/USD daily chart. Source: Tradingview

If the bulls can push the price above $0.118234, the uptrend is likely to resume. The first target objective is $0.135202 and if this resistance is scaled, the rally can extend to $0.15306.

However, if the 11th-ranked cryptocurrency on CoinMarketCap turns down from $0.118234, it could get stuck in a range for a few days. The first sign of weakness would be a break below $0.101266.

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 6/17: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, CRO – BTC Ethereum Crypto Currency Blog

Bitcoin price is struggling to overtake $9.6K even as Federal Reserve policy appears to be driving new investors into BTC.

Stephen Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia, believes that the supremacy of the U.S. dollar is likely to be challenged and the greenback could decline by as much as 35%. This impending dollar weakness could benefit gold and cryptocurrencies.

Several large traders have been accumulating Bitcoin (BTC) and according to on-chain data this has boosted the number of whales — traders holding 1,000 or more of the top-ranked cryptocurrency on CoinMarketCap — to 1,882. Usually, large traders build huge positions when they expect a sustained uptrend. 

Daily cryptocurrency market performance. Source: Coin360

Another interesting development is that investors over the age of 55 had largely stayed away from crypto assets but new data shows they have started investing in cryptocurrency. 

Bitcoin financial services firm River Financial Inc., said that its clients have doubled every month in 2020 and 77% of the volume growth has come from the investors above the age of 55. 

This shows that the current economic environment and the huge stimulus measures delivered by the central banks are attracting new investors into the crypto space.

BTC/USD

Although the rebound off the lows on June 15 indicated strong demand at lower levels, the bulls are struggling to push Bitcoin (BTC) above $9,600. This suggests selling by the bears at higher levels.

BTC/USD daily chart. Source: Tradingview

The 20-day exponential moving average ($9,489) has flattened out and the relative strength index is close to the midpoint, suggesting a balance between supply and demand.

A break below the 50-day simple moving average ($9,355) and $8,910.04 support zone will tilt the advantage in favor of the bears. Below this zone, a drop to the critical support at $8,130.58 is possible. The bulls are likely to defend this level aggressively.

On the upside, if the bulls can propel the price above the resistance line of the symmetrical triangle, a retest of $10,500 is likely. A break above this level could start a sustained uptrend.

ETH/USD

Ether (ETH) rebounded sharply from the 50-day SMA ($218) on June 15 but the bulls are struggling to push the price above the immediate resistance of $239.35. This suggests that the bears are unwilling to throw in the towel easily.

ETH/USD daily chart. Source: Tradingview

The 20-day EMA ($233) has flattened out and the RSI is just above the 50 level, which suggests that the bulls are losing their grip.

If the bulls fail to push the second-ranked cryptocurrency on CoinMarketCap above $239.50 within the next few days, the bears will again try to sink the price below the 50-day SMA. A close (UTC time) below the 50-day SMA could drag the price to $196.875 and then to $176.112.

Conversely, if the bulls can propel and sustain the price above $239.50, a move to $253.556 is likely. A break above this level could resume the up move with a target objective of $288.599.

XRP/USD

The rebound from the June 15 lows is facing resistance at the 20-day EMA ($0.19). This suggests that the bears are aggressively defending the higher levels. The bears are now likely to again attempt to sink XRP below the support line of the symmetrical triangle. 

XRP/USD daily chart. Source: Tradingview

If successful, a new downtrend is likely. The first support is at $0.162 and below that $0.144. The 20-day EMA is gradually sloping down and the RSI is in the negative territory, which suggests that bears have a slight advantage. 

Conversely, a break above the 20-day EMA will be the first sign of strength. The fourth-ranked cryptocurrency on CoinMarketCap is likely to pick up momentum after it breaks out of the downtrend line of the symmetrical triangle.

BCH/USD

Although Bitcoin Cash (BCH) rebounded from the low of $224.35 on June 15, the bulls are struggling to push the price above the moving averages. This suggests that bulls are buying aggressively at lower levels but buying interest dries up at higher levels. 

BCH/USD daily chart. Source: Tradingview

If the fifth-ranked cryptocurrency on CoinMarketCap turns down from the moving averages, a drop to $217.55 is likely. If this support cracks, the decline can extend to the critical support of $200. A break below this level could start a new downtrend.

Conversely, if the bulls can scale the BCH/USD pair above the moving averages, a move to $255.46 and above it to $280.47 is possible. A breakout of this resistance could signal the start of a new uptrend.

BSV/USD

Bitcoin SV (BSV) pulled back from $165.380 and closed (UTC time) above $170 on June 15. This suggests demand at lower levels but the bulls have not been able to carry the altcoin above the 20-day EMA ($186).

BSV/USD daily chart. Source: Tradingview

This suggests a lack of demand at higher levels. The 20-day EMA is sloping down and the RSI remains in the negative territory, which suggests that bears have the upper hand.

If the sixth-ranked cryptocurrency on CoinMarketCap breaks below the $170–$165.38 support zone, a new downtrend is likely. The first support on the downside is $146.2 and if this cracks, a drop to $120 is possible.

This bearish view will be invalidated if the BSV/USD pair can breakout of the moving averages and the $200 resistance. 

LTC/USD

Litecoin (LTC) has again reached the moving averages, which are close to the center of the large $39–$45 range. Both moving averages are flat and the RSI is just below the 50 level, which suggests a balance between bulls and bears.

LTC/USD daily chart. Source: Tradingview

If the seventh-ranked cryptocurrency on CoinMarketCap once again turns down from the moving averages, a drop to $39 is possible. This is a critical support to watch out for because if this gives way, the decline can extend to $32.50.

Conversely, if the bulls can push the LTC/USD pair above the moving averages, a rally to $51 is likely. A breakout of this resistance could start a new uptrend that can carry the pair to $64.

BNB/USD

Although the bears broke below the $15.72 support on June 15, they could not sustain the lower levels. Strong buying again propelled Binance Coin (BNB) back into the $15.72–$18.1377 range.

BNB/USD daily chart. Source: Tradingview

However, the bulls are struggling to push the price above the moving averages, which suggests a lack of urgency to buy at higher levels. If the price turns down from the current levels, the bears will make another attempt to break below $15.72.

If the price closes (UTC time) below $15.72, the eighth-ranked crypto-asset on CoinMarketCap can drop to $13.65. 

Alternatively, if the bulls can propel the BNB/USD pair above the moving averages, a rally to $18.1377 is likely. A breakout of this level might start a new uptrend.

EOS/USD

EOS has been range-bound between $2.3314–$2.8319 for the past few days. On June 15, the bulls stepped in to support the altcoin at $2.4208. If the bulls can push the price above the moving averages, a move to $2.8319 is likely.

EOS/USD daily chart. Source: Tradingview

The bears are likely to defend the $2.8319 resistance aggressively. If the price turns down from this level, the ninth-ranked cryptocurrency on CoinMarketCap is likely to extend its stay inside the range. 

If the EOS/USD pair turns down from the moving averages, the bears will attempt to sink it below the critical support at $2.3314. If successful, a new downtrend is likely.

ADA/USD

Cardano (ADA) rebounded sharply from the intraday low of $0.069488, which is just below the 50% Fibonacci retracement level of $0.0705811. This suggests that the sentiment is to accumulate on dips.

ADA/USD daily chart. Source: Tradingview

Today, the bulls have pushed the price above the overhead resistance at $0.0806825, which is a positive sign. The 10th-ranked cryptocurrency on CoinMarketCap can reach $0.085 and then retest the recent highs at $0.0901373.

The 20-day EMA is gradually sloping up and the RSI is in the positive zone, which suggests that bulls still hold the advantage. 

This bullish view will be invalidated if the ADA/USD pair turns down from the current levels and breaks below $0.0740613. If that happens, a retest of $0.069488 is possible. If this support also cracks the pair can drop to the 50-day SMA ($0.0634).

CRO/USD

The dip in Crypto.com Coin (CRO) on June 15 did not even reach the 20-day EMA ($0.102). This suggests that the bulls were in no hurry to book profits as they expect higher levels in the future.

CRO/USD daily chart. Source: Tradingview

Both moving averages are sloping up and the RSI remains near the overbought territory, which suggests that bulls are in command. 

A breakout of $0.118234 will signal resumption of the uptrend. The next level to watch on the upside is $0.135202 and above it $0.15306.

On the other hand, if the 11th-ranked cryptocurrency on CoinMarketCap turns down from $0.118234, a few days of range-bound action is likely. A deeper correction can be expected on a break below $0.101266.

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

Enhanced Privacy and Scalability: Charlie Lee Breaks Down ‘Litecoin 2.0’ – BTC Ethereum Crypto Currency Blog

Creator of Litecoin, Charlie Lee, discussed the upcoming MimbleWimble upgrade which aims at enhancing Litecoin’s privacy and scalability.

The creator of Litecoin, Charlie Lee, discussed the upcoming MimbleWimble upgrade which aims at enhancing Litecoin’s scalability and privacy.

Lee noted that Litecoin’s upcoming implementation will be able to scale much better than other privacy-focused protocols, like Monero or Z-Cash.

“It does privacy and scare very well compared to other implementations”, he said.

Talking about the risks involved, Lee pointed out “hidden inflation”, a bug commonly affecting privacy coins which allows hackers to counterfeit an infinite amount of coins.

However, “The risk is manageable”, Lee noted, pointing out that the privacy feature will be implemented solely on the MimbleWimble extension block, which means it would not affect main Litecoin’s layer.

Lee also noted that Litecoin’s reputation as a “boring” coin is actually an advantage, since the “build fast and break things” is not a good approach to money, in his opinion:

“You want money to be stable and you want it to work. Litecoin has worked flawlessly over the past 9 years.”

Lee also points out that given his role as “benevolent dictator” over the Litecoin protocol, the cryptocurrency can undergo upgrades more efficiently than Bitcoin.

“It takes forever to get anything implemented on Bitcoin because consensus is slow […] With Litecoin if we want to do something we can move pretty fast on it.”

Check out the full interview on our Youtube channel and make sure to subscribe!

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Author: btcethereumadmin

Price Analysis 6/15: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, CRO, ADA – BTC Ethereum Crypto Currency Blog

Recent surges in open interest on Bitcoin and Ethereum options contracts suggests institutional players are continuing to build positions in the top two cryptocurrencies.

Bitcoin (BTC) futures daily trading volume plunged sharply from about $20 billion on June 11 to about $5 billion on June 13. This is a negative sign because the volume increased during the sharp fall on June 11 but reduced during the rebound on June 12 and 13.

On June 14, the top-ranked cryptocurrency on CoinMarketCap declined but the futures volume picked up, suggesting a higher number of bearish trades on market declines and a lesser number of bullish trades during pullbacks.

While the trading volume fell, open interest on Bitcoin derivatives has risen to about $4 billion for the first time in three months. This suggests that the long-term players are not liquidating their positions yet as they do not see a major decline from the current levels.

Daily cryptocurrency market performance. Source: Coin360

It is not only Bitcoin open interest that has been increasing, Ether (ETH) futures contracts have also been creating records. This suggests that institutional investors are diversifying their crypto portfolio by increasing positions in the biggest altcoin.

Retail investors are also not to be left behind. Data by glassnode shows that the number of wallets containing 0.1 Bitcoin and a similar quantity of Ether (ETH) is at a lifetime high.

BTC/USD

The failure of the bulls to push the price above the 20-day exponential moving average ($9,495) for the past three days attracted further selling. Today, Bitcoin (BTC) broke below the support line of the symmetrical triangle.

BTC/USD daily chart. Source: Tradingview

While the breakdown was a huge negative, the bears could not sustain the selling pressure at lower levels.

The BTC/USD pair turned around from $8,910.04 and has currently climbed back inside the triangle. If the bulls can push the price above the 20-day EMA, another attempt to break out of the $10,000–$10,500 zone is likely.

Conversely, if the bears again defend the 20-day EMA, they are likely to make another attempt to sink the pair below the triangle. A close (UTC time) below the triangle will be a huge negative and can result in a decline to $8,638.79 and below it to $8,130.58.

As both the bulls and the bears are locked in a tussle to gain the upper hand, the volatility is likely to remain high for the next few days.

ETH/USD

Ether (ETH) broke below the ascending channel on June 11. Unlike previous breakdowns (marked as ellipses on the chart), the bulls could not push the price back into the channel and sustain it.

ETH/USD daily chart. Source: Tradingview

This attracted further selling and the second-ranked cryptocurrency on CoinMarketCap broke below the uptrend line. There is a minor support at the 50-day simple moving average ($217) below which the decline can extend to $196 and then to $176.112.

On the other hand, if the ETH/USD pair bounces off the 50-day SMA and sustains above $225.783, it will signal strong demand at lower levels. That could result in consolidation between $253.556–$225.783 for a few days.

XRP/USD

The weak rebound off the support line of the symmetrical triangle indicates a lack of buyers at higher levels. Currently, the bears are attempting to sink XRP below the triangle. The downsloping 20-day EMA ($0.197) and the relative strength index in the negative territory suggests an advantage to the bears.

XRP/USD daily chart. Source: Tradingview

On a close (UTC time) below the triangle, the third-ranked cryptocurrency on CoinMarketCap can drop to $0.16 and if this support also cracks, the next support is at $0.14.

However, if the bulls manage to keep the BCH/USD pair inside the triangle, it will signal accumulation at lower levels. The advantage will turn in favor of the bulls on a break above the triangle.

BCH/USD

Although Bitcoin Cash (BCH) has been trading inside the large $200–$280.47 range for the past few months, the price has been stuck inside a tighter $217.55–$255.46 range for the past few days.

BCH/USD daily chart. Source: Tradingview

Currently, the bears are attempting to sink the fifth-ranked cryptocurrency on CoinMarketCap below the $217.55 support. If successful, a drop to $200 is likely. The bulls are likely to defend the $200–$217.55 zone aggressively and a break below this zone will be a huge negative.

Conversely, if the BCH/USD pair rebounds off the $200–$217.55 zone, it will indicate accumulation at lower levels. This will also keep the pair inside the range and could offer a buying opportunity to the traders.

BSV/USD

Bitcoin SV (BSV) broke below the critical support of $170 for the first time since April 2. This is a negative sign as it suggests that the bulls are not able to defend this level.

BSV/USD daily chart. Source: Tradingview

The 20-day EMA ($188) has started to slope down and the RSI is close to the oversold levels, suggesting that bears have the upper hand.

If the sixth-ranked cryptocurrency on CoinMarketCap closes (UTC time) below $170, it will indicate that the range has resolved to the downside. Below $170, a drop to $146.20 and then to $120 is likely.

This bearish view will be invalidated if the BSV/USD pair closes (UTC time) above $170. Such a move will suggest that the bulls are defending the support levels and the range-bound is likely to continue for a few more days.

LTC/USD

The rebound after the sharp fall on June 11 could not rise above the moving averages. This suggests a lack of demand at higher levels. The bears are now likely to attempt to sink Litecoin (LTC) to the support of the large $39–$51 range.

LTC/USD daily chart. Source: Tradingview

The $39 level has not been breached on a closing basis since April, hence, the bulls are likely to buy the dip to this level aggressively.

A strong rebound off this support will increase the possibility that the range-bound action will continue for a few more days. In a large range, a strong bounce off the support can be viewed as a buying opportunity.

This view will be invalidated if the bears sink the seventh-ranked cryptocurrency on CoinMarketCap below $39. If that happens, a drop to $32.50 is likely.

BNB/USD

Binance Coin (BNB) has been range-bound between $18.1377 and $15.72 for the past few days. After failing to break out of the range between May 21–June 2, the bears are currently attempting to sink the altcoin below the support.

BNB/USD daily chart. Source: Tradingview

The 20-day EMA has started to turn down and the RSI is in the negative territory, suggesting that bears have the upper hand.

If the eighth-ranked crypto-asset on CoinMarketCap closes (UTC time) below $15.72, a drop to $13.65 is possible. This support has held for more than two months, hence, the bulls will try to defend it once again.

However, if the bulls defend the $15.72 levels on a closing basis, it will be a huge positive and can result in a move to $18.1377. A breakout of this resistance is likely to start a new uptrend.

EOS/USD

The rebound in EOS following the fall on June 11 could not even reach the moving averages. This suggests a lack of buying interest at higher levels. The altcoin has turned down and can now reach the critical support at $2.3314.

EOS/USD daily chart. Source: Tradingview

If the bears sink and sustain the ninth-ranked cryptocurrency on CoinMarketCap below $2.3314, it suggests that bears have overpowered the bulls. This could result in a drop to $2.09 and below it to $1.8309.

However, the bulls have repeatedly defended the $2.3314 support. If the bulls successfully defend $2.3314 once again, the EOS/USD pair might extend its stay inside the range for a few more days.

CRO/USD

Crypto.com Coin (CRO) has been in a strong uptrend for the past three months. This has helped the altcoin become the 10th-ranked cryptocurrency on CoinMarketCap.

CRO/USD daily chart. Source: Tradingview

The strong rally from the lows had pushed the RSI deep into overbought territory. The CRO/USD pair is currently correcting the overbought levels but the trend remains up.

Both moving averages are sloping up and the RSI is in the positive zone, which suggests that bulls have the upper hand.

The first support on the downside is at the 20-day EMA ($0.100). If the pair bounces off this support, the bulls will again attempt to resume the uptrend.

However, if the bears sink the pair below the 20-day EMA, the selling can intensify and drag the price to the 50-day SMA ($0.079).

ADA/USD

Cardano (ADA) has broken below the 20-day EMA ($0.075), which suggests that the bullish momentum has weakened. The 20-day EMA has flattened out and the RSI has dropped to the 50 levels indicating a balance between supply and demand.

ADA/USD daily chart. Source: Tradingview

The bulls are currently attempting to defend the 50% Fibonacci retracement level of $0.0705811. If the 11th-ranked cryptocurrency on CoinMarketCap bounces off this support, it can move up to $0.080 and above it to $0.0901373.

Conversely, if the support cracks, the ADA/USD pair can decline to the 50-day SMA ($0.062). This is a critical support to watch out for because if this level breaks down, the decline can extend to $0.0510249.

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

Turkish Real Estate Firm Antalya Homes Now Supports Bitcoin Payments – BTC Ethereum Crypto Currency Blog

Turkish real estate firm Antalya Homes announced that its customers can now pay for properties listed on its platform with Bitcoin.

Turkish real estate firm Antalya Homes announced that its customers can now pay for properties listed on its platform with Bitcoin (BTC).

According to a June 15 announcement, Antalya Homes claims to have recorded the highest-valued real estate sale ever made while using Bitcoin as a payment in Turkey.

Per the company, the coronavirus pandemic forced the real estate industry to innovate. More precisely, Antalya Homes reacted by offering virtual home tours and adding support for Bitcoin on its website. The firm’s chairman Bayram Tekce explained:

“In the sale of a villa in Antalya, we recorded visuals of the house with a drone and did an online viewing tour with the customer. Then, we brought the buyer and the seller together on an online meeting and finalized the negotiations. Antalya Homes brokered the payments with Bitcoin. This sale, worth [$1.25 million], was the highest valued property sale ever made by Bitcoin in Turkey.”

Antalya Homes’ website features a dedicated “Pay with Bitcoin” section, which notes that the company also facilitates payments with XRP, Bitcoin Cash (BCH), Litecoin (LTC), Bitcoin Gold (BTG), Tether (USDT), Stellar (XLM) and Ether (ETH).

Cryptocurrency use in the real estate market

The fees imposed on big transactions by traditional financial services make such payments a good use case for cryptocurrencies. For instance, real estate investor Ben Shoaul sold a condo in Manhattan’s Upper East Side for $15.3 million, but in Bitcoin.

In October 2019, a 150-year-old English church was also offered for sale for $1.5 million worth of Bitcoin.

Original Article
Author: btcethereumadmin