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

DMX Markets Review: Benefits and Risks of Trading With This Broker

DMX Markets is one of the trending brokers people use presently to navigate the muddy financial markets.

The Forex Market boasts approximately $5.3 trillion in daily trading volume, making it the largest and most liquid market in the world. Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period.

Today, the Forex market is one of the biggest accessible markets in the world, and has been shaped by several important global events in history. 

We assure you that reading this article is no coincidence of any sort, rather it’s an eye-opener as we would be introducing you to DMX Markets, it’s a company established for the sole purpose of making trading online easier and safe.

Here is an overview for the rest of the article:

  • Understanding DMX Markets.
  • Benefits Traders Enjoy with DMX Markets.
  • Basic characteristics of DMX Markets.
  • Is DMX Markets stable?
  • Traditional Risks Involved in Trading with DMX Markets.

Understanding DMX Markets

DMX Markets is known all round for being a reliable online Forex trading broker. The company has proven Its efficiency by providing traders far and wide and across the world with an extensive cutting edge Forex trading technology to offer unattainable  top tier institutional grade spreads. DMX Markets has also provided a distinct security of tight financial regulation.

DMX Markets is a top grade provider of contracts for difference (CFD) delivering trading facilities on shares, commodities, indices and foreign exchange alongside an innovative trading technology. DMX is  reliable for traders empowerment, it broadens the traders’ sight of online trading.

Benefits Of Using DMX Markets

As a trader, the first question you want to ask is what’s in it for you if you decide to ditch your broker and switch to DMX Markets. Also as a beginner, you may wonder what unique features offered by the broker can help you reach your targets.

Well, let’s consider the following benefits:

  • Provides distinct trading services to clients, regardless of their balance: DMX Markets doesn’t necessarily need a trader’s big paycheck to provide the best services. They are committed to all types of clients irrespective of the client’s balance. 
  • DMX Markets educates its clients about the financial markets and the risks involved in the trades: The company ensures that the clients are aware of all the risks involved in a particular trade. 

DMX Markets at all times provide ideal suggestions on how to avoid certain loopholes in the trading market. The company comes up with effective alternative methods to go about trading, making sure that clients are well informed about the financial markets and efficient strategic steps to benefit from the trade.

  • Promotes transparency and best practices in the financial markets industry: DMX Markets ensures that the clients can see through their administrative procedures, ensuring trust, commitment, and reliability. The company offers the best practices.

Other Things to Expect on DMX Markets

  1. There are No Hidden Charges or Surprises

All charges and fees are disclosed to you beforehand and there will be no hidden costs. Clients can definitely trust them because DMX Markets strongly believe in fair business trading and trust.

  1. A Safe & Secure Trading Platform.

The broker’s SSL certified platforms always make sure that all the information is safe which makes our platforms 100% safe and secure.

  1. Free Forex Trading Education

You can learn the most effective trading strategies with all the assistance and training that you’d need to become an expert.

4.  Excellent Trading & Learning Support

The broker is interested in the success of clients and for this reason provides a dedicated support & service team to guide you whenever you need.

Multi-Platform Support

Another distinct feature of DMX Markets include the offering of trading platforms across devices. 

For the basics, a trading platform is computer software that market participants can use to research, place, monitor, and edit trades with a broker or other financial intermediary. 

There are many trading platforms to choose from, including desktop platforms, trading apps, web-based platforms, and third-party programs. 

DMX Markets provides the following trading platforms for clients:

  • Meta Trader(MT4)
  • Mobile Trader.
  • Webtrader.

Many people might not really understand how this really works. Some might misinterpret these terms for another which might be misleading. Well, let’s look into them and explain them one by one for a better understanding.

Meta Trader (MT4)

MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. 

Metatrader 4 is free for download from the website. On the first launch, you will be prompted to open a free demo account to enable you to test all features of the trading platform. This demo enables you to practice trading without investment. It helps broaden the trader’s mind to what trading really entails.

Mobile Trader

Mobile trading allows investors to access trading platforms from their telephones rather than being confined to traditional trading methods via computer which is more complex. Such technology allows easier access for smartphone users to actively manage their portfolios even when they are away from a desktop or laptop. 

How Mobile Trading works

While mobile devices, such as Android phones and iPhones, have always allowed users to check the performance of the stock market, mobile trading apps provide access to online trading platforms, which can be utilized to execute trades instantly from anywhere.

Every major brokerage has an Android app or iPhone app or both, to allow their customers to trade directly from their mobile devices which is easier to access.

Mobile trading has allowed individuals to become traders and investors, not only from the comfort of their own homes but also from anywhere in the world with an Internet connection. 

This means that people can trade from work or even on vacation in faraway lands. With mobile trading-only apps, such as Robinhood and its commission-free trading, mobile seems to be the most convenient and indeed cheapest way for most people to trade. DMX Markets provides this feature on a standby.

WebTrader

This form of trading is best for traders that trade directly from the internet, as it doesn’t require any form of installation or application download.

If you’re the kind of person who’s interested in trading the markets without putting a lot of effort and time into comprehensive market research, then WebTrader is the perfect platform for you! It doesn’t require any installation and it’s available on any computer on any browser, this is a very good trading platform too.

What Can I Trade on DMX Markets?

  • Forex.
  • Indices.
  • Commodities.
  • Stocks.

FOREX

The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency.

On DMX Markets you can trade the most popular currency pairs, including: 

  • NZD/USD
  • AUD/USD
  • USD/CAD
  • USD/CHF
  • USD/JPY

INDICES

An index is an indicator or measure of something, and in finance, it typically refers to a statistical measure of the change in a securities market. In the case of financial markets, stock, and bond market indices consist of a hypothetical portfolio of securities representing a particular market or a segment of it.

There are different types of indices which are as follows:

  • S&P 500
  • Nikkei 225
  • CAC 40
  • EURO STOXX 50
  • ASX 200 
  • Hang Seng
  • FTSE 100
  • DAX 30

COMMODITIES

A commodity market trades in goods such as coffee, cocoa, and mined products such as gold and oil. 

We have 4 basic types of commodities which will be explained below:

Agriculture

Corn, soybeans, wheat, rice, cocoa, coffee, cotton, and sugar are few examples of Agricultural commodities. on DMX Markets, you can trade CFDs based on these commodities. 

Energy:

In the aspect of the Energy commodity, some examples include crude oil, heating oil, natural gas, and gasoline.

That aim to replace crude oil as a primary source of energy, can all have a huge impact on the market prices for commodities in the energy sector.

Livestock and Meat:

Agricultural commodities include lean hogs, pork bellies, live cattle, and feeder cattle.

Metals:

Metals commodities include gold, silver, platinum, and copper.

STOCKS

A stock market, equity market or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms.

Investment in the stock market is most often done via stock brokerages and electronic trading platforms such as DMX Markets. Investment is usually made with a strategy in mind (either short or long term). 

Using DMX you can trade stocks for the most popular companies in different sectors, including

  • Cyclical Stock.
  • Non-Cyclical Stock.

Cyclical Stock

A cyclical stock is the kind of stock that reacts in conjunction with an economic condition. This means, when economic conditions are favorable, these companies tend to perform well.

Non-Cyclical Stock

Unlike Cyclical stock, non-cyclical stocks have a good performance during the period of adverse economic circumstances.

Here’s an example of the different stock market sectors:

Energy –  Shell

Materials –  Valvoline

Industrials –  Caterpillar

Consumer discretionary – Amazon

Consumer staples – Coca-Cola

Health care – Pfizer

Financials – Goldman Sachs

Information technology  Salesforce

Telecommunication services – Verizon.

Utilities – NextEra

Real estate – Examples are like a Real estate Group or company.

Is DMX Markets Stable? 

DMX is a stable, secure, and trustworthy financial services provider. 

The wide range of services provided by DMX Markets has enabled the broker to build a market-leading position providing active traders with global access to investment opportunities anywhere, anytime. 

The powerful and award-winning MT4 platforms (software, web trader and mobile) offered by this broker perfectly meets the expectations of everyone to help them become better traders.

Not only does the broker provide clients access to hundreds of different currency pairs, indices, commodities and shares, but also offers some of the tightest spreads in the industry. 

Clients enjoy leverage as high as 1:400 as well as mini-lots and micro-lots, offering a fair deal to traders with lower budgets. The deal-execution systems are fully automated; there is no human intervention which results in fairer execution of client’s trades.

Traditional Risks involved with Trading

While DMX Markets offers an intuitive and easy to use platform for traders, you still would have to protect yourself from traditional risks involved with Trading. 

These include :

  • Leverage Risks

In Forex trading, leverage requires a small initial investment, called a margin, to gain access to substantial trades in foreign currencies. Small price fluctuations can result in margin calls where the investor is required to pay an additional margin. 

During volatile market conditions, aggressive use of leverage will result in substantial losses in excess of initial investments. 

As noted earlier, DMX Markets offers leverage up to a 1:400 ratio. 

  • Interest Rate Risks

In basic macroeconomics courses you learn that interest rates have an effect on countries’ exchange rates. If a country’s interest rates rise, its currency will strengthen due to an influx of investments in that country’s assets putatively because a stronger currency provides higher returns.

Conversely, if interest rates fall, its currency will weaken as investors begin to withdraw their investments. Due to the nature of the interest rate and its circuitous effect on exchange rates, the differential between currency values can cause prices to dramatically change.

  • Transaction Risks

Transaction risks are an exchange rate risk associated with time differences between the beginning of a contract and when it settles. Forex trading occurs on a 24-hour basis which can result in exchange rates changing before trades have settled. 

Consequently, currencies may be traded at different prices at different times during trading hours. The greater the time differential between entering and settling a contract increases the transaction risk. Any time differences allow exchange risks to fluctuate, individuals and corporations dealing in currencies face increased, and perhaps onerous, transaction costs.

In Conclusion

The vision of DMX Markets is to provide an unsurpassable benchmark for personalized, best-practice service through round-the-clock coverage delivered by one of the world’s largest and most accomplished client coverage teams. It is a recommended broker.

If you’re looking forward to becoming a trader with DMX Markets, then you have not made a wrong choice as it’s probably on the list of best brokers in the market right now.

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!

Original Article
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

Market Update: Bitcoin World Reserve Theories, Market Cap Loses $16B, Analyst Predicts $7,500 ETH – BTC Ethereum Crypto Currency Blog

Digital currency markets are down on Sunday evening roughly 2.14% as global trade volume has slid by 31% this weekend. Coins like ethereum, bitcoin, litecoin, and bitcoin cash are all down between 1-2% in the last 24 hours.

Crypto Assets Shed $16 Billion in Two Days

At the time of publication, the cryptocurrency market capitalization is around $261 billion and it has lost around $16 billion in the last two days. In addition to the market cap losses stemming from all 5,000+ coins, global trade volumes have been lower than usual. At the moment, bitcoin (BTC) is swapping for $9,279 per coin. The crypto asset has a market cap of around $170 billion and the currency is down 2.1% in the last 24 hours

Ethereum (ETH) is currently trading for $230 per unit and the crypto asset has lost 3.67% in fiat value today. After hovering at $0.20 per coin, XRP is down 2.3% today and trading for $0.188 per XRP. Tether (USDT) of course, is doing quite well with markets losing value as the stablecoin captures two-thirds of the market share of trading pairs. Right now at a U.S. dollar per unit price, the stablecoin has a $5.76 billion market cap.

Bitcoin cash (BCH) is down 2.2% today as it’s trading for $234 per unit during the evening trading sessions. BCH is the fifth-largest market cap by value below USDT and above BSV. At the time of writing, BCH has a market valuation of $4.3 billion.

‘Monster Move’ Coming Soon for Bitcoin

While bitcoin (BTC) and many other crypto assets have been consolidating and following a triangular pattern, many traders think a big move is in the works for a variety of digital currencies. On June 13, 2020, the popular trader Crypto Birb tweeted out to his 83,000 followers that a “monster move” is expected for BTC.

”Consolidating for 1.5 months already. This is going to be a monster move for BTC soon,” Crypto Birb tweeted. “70% of my BTC holdings are long term spot long that I take profits from on a regular basis as we grow. Short is only a hedge,” the trader added.

Bitcoin Could be a World Reserve Currency Says Financial Author and Tech Visionary Jeff Booth

On June 11, 2020, the entrepreneur and best-selling author, Jeff Booth, spoke with Max Keiser of Keiser Report about bitcoin (BTC). Booth seems to think that BTC has a good chance of being a “world reserve currency.” The author tells Keiser that the central banks’ massive creation of money has been a force that is driving bitcoin’s trend toward being a world reserve.

Entrepreneur and best-selling author, Jeff Booth.

“Those forces, competing against each other, are driving essential asset prices up… People are trying to work harder to keep up with rising asset prices that are created in the first place by the central governments’ trend to stop deflation,” Booth said. The CEO of e-commerce company Builddirect also added:

I see bitcoin as a likely, a very likely candidate for a world reserve currency. So, I see it has a really good chance of winning over time as it works on a network effect.

Placeholder VC Partner Chris Burniske Expects Ethereum to Touch $7,500 if Bitcoin Reaches $50K

On June 14, 2020, the former lead researcher at Ark Invest and Placeholder VC partner, Chris Burniske, discussed ETH price predictions on Twitter.

Former lead researcher at Ark Invest and Placeholder VC partner, Chris Burniske.

On Sunday, Burniske tweeted: If BTC goes [to] $50,000 in the next cycle, and ETH/BTC returns to its former ATH, then expect to see ETH [to] $7,500.” The Placeholder VC partner and analyst further said:

Why bitcoin to $50,000? As discussed in May 2019, if BTC is half as volatile in this cycle as it was in the last, we would still expect it to cross $50K and $1 trillion in network value. $1 trillion has been a long time coming for this macro-asset. Meanwhile, to the mainstream, ETH will be the new kid on the block — expect a frenzy to go with that realization.

What do you think about crypto-asset markets this Sunday? Let us know in the comments below.

The post Market Update: Bitcoin World Reserve Theories, Market Cap Loses $16B, Analyst Predicts $7,500 ETH appeared first on Bitcoin News.

https://news.bitcoin.com/market-update-bitcoin-world-reserve-theories-market-cap-loses-16b-analyst-predicts-7500-eth/

Original Article
Author: btcethereumadmin

Price Analysis 6/12: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ – BTC Ethereum Crypto Currency Blog

Bitcoin sold off as stocks corrected on June 11, but BTC and altcoins are failing to recover even as equities markets move higher.

The S&P 500 plunged 5.89% on June 11, its fourth-worst fall this year. This brought back memories of the sharp sell-off seen in March when investors dumped most asset classes as the coronavirus pandemic took hold. 

Although gold managed to close in the green on June 11, Bitcoin (BTC) plunged 6.16%. This suggests that investors sought the safety of gold over BTC, the top-ranked cryptocurrency on CoinMarketCap.

The Organization for Economic Co-operation and Development said in a report that governments should prepare for a possible second wave of coronavirus cases. The OECD heavily emphasized the continuance of ultra-accommodative monetary policies and higher public debt until inflation and economic activity picks up and unemployment levels fall.

Daily cryptocurrency market performance. Source: Coin360

During the current crisis, the U.S. debt has crossed the $26 trillion mark. As the central banks balance sheets continue to balloon, several institutional investors may consider investing in higher risk assets like Bitcoin to hedge their portfolio against future currency crises. 

If the second wave of coronavirus is as bad as medical experts predict, the short-term panic selling in cryptocurrencies cannot be ruled out but lower levels are likely to witness strong buying by long-term investors. 

BTC/USD

Bitcoin (BTC) broke above the resistance line of the symmetrical triangle and reached the five-figure mark on June 10. However, $10,000 again proved a stiff hurdle to cross as the price turned down sharply on June 11.

BTC/USD daily chart. Source: Tradingview

This suggests that the bears are aggressively defending the overhead resistance zone between $10,000 and $10,500.

The bulls held the 50-day simple moving average ($9,177) on June 11 and managed to keep the BTC/USD pair inside the triangle. However, buyers are struggling to push the price above the 20-day exponential moving average ($9,529). 

If the pair turns down from the 20-day EMA and breaks below $9,078.96, a decline to $8,130.58 is possible. If this level cracks then the pair could start a new downtrend.

On the other hand, if the bulls can scale the price above the 20-day EMA, another attempt to climb the $10,000–$10,500 zone is likely. If successful, the pair is likely to pick up momentum and start the next leg of the sustained uptrend.

ETH/USD

Ether (ETH) broke above the $247.827 resistance on June 10 and 11 but failed to sustain it. This attracted profit booking that dragged the price back below the support line of the ascending channel on June 11.

ETH/USD daily chart. Source: Tradingview

The bulls again purchased the drop to the uptrend line, which makes this an important support to watch closely. 

Currently, the bulls are attempting to push the second-ranked cryptocurrency on CoinMarketCap back into the ascending channel. If successful, a rally to $253.556 is possible.

Conversely, if the ETH/USD pair plunges below the uptrend line it will signal a possible change in trend. 

XRP/USD

The sharp drop in XRP was arrested at the support line of the symmetrical triangle on June 10. This is a positive sign as it shows that the bulls are defending this support aggressively. They will now attempt to push the price back to the downtrend line of the triangle. 

XRP/USD daily chart. Source: Tradingview

A breakout of the downtrend line will be a positive sign and it could offer a buying opportunity to the traders.

Above the triangle, the third-ranked cryptocurrency on CoinMarketCap can rally to $0.235688 and then to the pattern target at $0.2707. 

However, if the XRP/USD pair fails to sustain the rebound, the bears will try to sink the price below the triangle. If successful, a drop to $0.16 and then to $0.14 is likely. 

BCH/USD

Bitcoin Cash (BCH) broke above $255.46 on June 10 but could not scale above the $260 level. This resulted in profit booking by short-term traders and the price plunged back below the moving averages.

BCH/USD daily chart. Source: Tradingview

The bulls are currently attempting to push the fifth-ranked cryptocurrency on CoinMarketCap back above the moving averages. If successful, a rally to $255.46 is possible. The BCH/USD pair is likely to show strength above $260 and pick up momentum above $280.47.

Conversely, if the pair turns down from the moving averages, the bears will try to sink it to the next support at $217.55. If this support holds, the pair might remain stuck between $217.55–$255.46. If the $217.55 level cracks the pair can drop to $200.

BSV/USD

Bitcoin SV (BSV) again failed to break above $200 on June 10. This attracted selling that resulted in a sharp fall on June 11. The bulls are currently attempting to defend the strong support at $170. 

BSV/USD daily chart. Source: Tradingview

If successful, the sixth-ranked cryptocurrency on CoinMarketCap is likely to extend its stay inside the $170–$227 range. In a large range, the rebound off the support can offer a buying opportunity to the traders but if the BSV/USD pair breaks below the $170 support, a drop to $146.20 is possible. 

LTC/USD

Litecoin (LTC) broke below the moving averages and dropped towards the first support at $41.72 on June 11. The bulls purchased this dip and are currently attempting to push the price back above the moving averages.

LTC/USD daily chart. Source: Tradingview

If successful, the seventh-ranked cryptocurrency on CoinMarketCap will try to move up to $51. A breakout of this level will signal the start of a possible uptrend. Above this level, a rally to $64 is likely.

Conversely, if the LTC/USD pair turns down from $51, a few more days of consolidation can be expected. Both moving averages are flat and the relative strength index is just below the 50 level which points to a range-bound action for a few days.

The trend will turn in favor of the bears if the pair turns down from the current levels and plunges below the critical support at $39.

BNB/USD

The moving average support finally gave way on June 11 and Binance Coin (BNB) dropped to $15.93. The bulls purchased the dip and are currently attempting to push the price back above the moving averages. 

BNB/USD daily chart. Source: Tradingview

If successful, the eighth-ranked crypto-asset on CoinMarketCap will again try to rise above the overhead resistance of $18.1377. In doing so, the momentum is likely to pick up and a rally to $21.50 and $24 is possible. 

Conversely, if the BNB/USD pair turns down from the moving averages and slips below $15.72 a drop to $13.65 is likely.

EOS/USD

After failing to cross above the overhead resistance of $2.8319, EOS succumbed to selling pressure on June 11. This shows that the aggressive bulls who were expecting a breakout of $2.8319 dumped their positions.

EOS/USD daily chart. Source: Tradingview

The $2.3314 level has acted as a strong support from early April and the bulls purchased the dip to $2.4250 on June 11.

This increases the possibility of a range-bound action between $2.3314–$2.8319 for the next few days.

The ninth-ranked cryptocurrency on CoinMarketCap is likely to show strength on a breakout and close (UTC time) above $2.8319. Conversely, a break below $2.3314 will tilt the advantage in favor of the bears.

ADA/USD

Cardano (ADA) is currently attempting to resume the uptrend after bouncing off the 20-day EMA ($0.075) as suggested in the previous analysis. The 38.2% Fibonacci retracement level of the most recent leg of the up move is also close to the 20-day EMA and working as a strong support.

ADA/USD daily chart. Source: Tradingview

The first target objective on the upside is a retest of $0.0901373. If the 10th-ranked cryptocurrency on CoinMarketCap turns down from this level a few days of range-bound action is likely.

If the bulls can propel the price above $0.0901373 the ADA/USD pair might rally to the $0.1–$0.10652 resistance zone.

The pair will signal weakness if it turns down from the current levels and breaks below the 20-day EMA. 

XTZ/USD

Tezos (XTZ) plunged below both moving averages on June 11 but the bulls aggressively purchased the dip to the support line of the descending channel. This is a positive sign as it shows that the bulls are still buying the dips.

XTZ/USD daily chart. Source: Tradingview

However, the recovery is facing resistance at the moving averages. If the 11th-ranked cryptocurrency on CoinMarketCap turns down from the current levels, the bears will make another attempt to break below the channel.

If successful, a drop to the critical support at $2.24 is possible. A break below this level could start a new downtrend. 

The first sign of strength would be a breakout of the resistance line of the channel. Above this level, a rally to $3.1384 and then to $3.60 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

Liquidations May Loom as Altcoin Bulls Hold Despite Shorts Spiking – BTC Ethereum Crypto Currency Blog

Many altcoin bulls are holding longs in spite of yesterday’s sudden down-turn in the Bitcoin markets. However, altcoin shorts are quickly rising too.

Despite yesterday’s 8% crash in the price of Bitcoin (BTC) driving many BTC bulls from the markets, altcoin longs have only seen slight declines, with Ether (ETH) longs defying the trend with a slight rally test of recent all-time highs on Bitfinex.

However, altcoin bears are quickly emerging from the woods, with shorts against many top altcoins piling up quickly amid Bitcoin’s recent drop. 

With many altcoin bulls holding on despite the increase in shorts, numerous leading crypto assets could see a surge in liquidations regardless of what direction the markets ultimately take.

Bitcoin longs retrace heavily

The BTC shake-out saw long positions on Bitfinex plummet by over 10%, dropping from 28,800 to roughly less than 26,000. BTC/USD short positions also saw an increase of nearly 16%.

BTC/USD longs on Bitfinex, 4hr: Tradingview

The crash also drove wholesale liquidations across crypto derivatives exchanges, with more than $71 million in margin calls on BitMEX and $66 million on Binance Futures taking place in the last 24 hours — the third-largest daily liquidations of the past month according to Cryptometer.

Ether longs bulls hold steady

While altcoins did not see heavy liquidations across futures platforms, a sharp spike in short positions coupled with stubborn bulls may create the perfect storm for an aggressive round of margin calls.

While many Bitcoin bulls quickly became bearish, ETH longs saw a slight increase of 2.5% — currently testing recent record highs of 1.77 million on Bitfinex. 

The persistent buying activity suggests that some market participants are predicting that Ether can continue to make gains over the dollar despite bearish signals in the Bitcoin markets.

ETH/USD longs on Bitfinex, 4hr: Tradingview

Altcoin shorts spike suddenly

However, the Bitcoin crash also drove an aggressive increase in ETH/USD short positions, which spiked by more than 18% in less than 60 minutes.

ETH/USD shorts on Bitfinex, 1hr: Tradingview

Similar trends can be observed across other leading altcoin markets, with Litecoin (LTC) longs dropping just 2.5% as shorts increased by over 30%, and XRP bulls retreating by only 3.5% as shorts flew by 15% over a few hours.

Original Article
Author: btcethereumadmin

Price Analysis 6/10: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ – BTC Ethereum Crypto Currency Blog

Institutional investors are showing greater interest in cryptocurrency and this could result in a sharp move within the next few days.

About one-third of institutional investors surveyed by Fidelity said they have invested in digital assets. 25% of the survey participants said that they hold Bitcoin (BTC) and 11% confirmed that they hold Ether (ETH). While these are encouraging signs, the future looks even brighter as 91% of survey participants expect to hold at least 0.5% of their portfolio in crypto assets in the next five years.

Total Bitcoin options open interest has risen from $1 billion on May 7 to over $1.5 billion on June 9, according to data from Skew. This shows growing interest among institutional investors who expect the top-ranked cryptocurrency on CoinMarketCap to make a decisive move within the next few days.

Daily cryptocurrency market performance. Source: Coin360

For the past few weeks, the U.S. stock markets have been surging as optimism for a sharp economic rebound grows. The technology-heavy Nasdaq hit new lifetime highs which shows the euphoric sentiment among investors. However, eToro CEO Yoni Assia has cautioned investors of a stock market crash within three weeks.

If the equity markets do correct sharply, the money is likely to flow into safe haven assets. Even if a fraction of these funds enter Bitcoin a sharp move to the upside could take place.

Let’s study the charts to determine the critical levels to watch.

BTC/USD

Bitcoin (BTC) is getting ready for a large move. As the 20-day exponential moving average ($9,556) is gradually sloping higher and the relative strength index is in the positive territory, the advantage is with the bulls.

BTC/USD daily chart. Source: Tradingview

A breakout and close (UTC time) above the symmetrical triangle will signal strength and could result in a possible rally to $10,500. This is the critical resistance to watch out for because if the bulls can scale the price above it, the BTC/USD pair is likely to pick up momentum and rally to $12,000.

This bullish view will be invalidated if the pair reverses direction from the current levels and plummets below the support line of the triangle. Below the triangle, a decline to $8,130.58 is likely. A break below this critical support will turn the trend in favor of the bears.

ETH/USD

Although Ether (ETH) scaled above the immediate resistance of $247.827 on June 9, the bulls could not sustain the breakout. This suggests a lack of demand at higher levels. The price has again dipped back into the $247.827–$233.449 range.

ETH/USD daily chart. Source: Tradingview

However, as long as the price remains inside the ascending channel and the moving averages continue to slope up, the advantage remains with the bulls.

If the second-ranked cryptocurrency on CoinMarketCap rebounds off the 20-day EMA ($231), the bulls will attempt to push it above the $249.699–$253.556 resistance zone. If successful, a move to the resistance line of the ascending channel at $280 is likely.

Conversely, if the bears sink the ETH/USD pair below the 20-day EMA, a drop to the uptrend line and then to the 50-day simple moving average ($212) is possible. A break below the 50-day SMA will signal a possible change in trend.

XRP/USD

XRP has been trading close to the moving averages for the past few days, which shows that both the bulls and the bears are not waging large bets. The flat moving averages and the RSI close to the midpoint suggests a balance between supply and demand.

XRP/USD daily chart. Source: Tradingview

The third-ranked cryptocurrency on CoinMarketCap has formed a symmetrical triangle. The next trending move is likely to start after the price escapes the triangle.

If the bulls can breakout and close (UTC time) the price above the resistance line of the triangle, the uptrend is likely to begin. The pattern target of this formation is $0.2707. However, it is unlikely to be a straight dash up as the bears will mount a stiff challenge at $0.235688 and again at $0.246094.

The bearish view will come into play if the XRP/USD pair turns down from the current levels and plummets below the support line of the triangle. Below this level, the target objective is $0.1244. However, the bulls are likely to defend the $0.16 and the $0.14 levels aggressively.

BCH/USD

Bitcoin Cash (BCH) has bounced off the 20-day EMA ($248), which is a positive sign. If the bulls can sustain the price above $260, a move to the top of the range at $280.47 is possible.

BCH/USD daily chart. Source: Tradingview

If the bulls can carry the fifth-ranked cryptocurrency on CoinMarketCap above $280.47, a new uptrend is likely. The target objective of this up move is $350.

However, if the BCH/USD pair turns down from $280.47, a few more days of range-bound action is likely.

The bearish scenario will come into play if the pair breaks below the moving averages. Such a move will indicate that the bears have overpowered the bulls and a drop to $200 could be on the cards.

BSV/USD

Bitcoin SV (BSV) has been trading just below $200 levels for the past few days. Both moving averages are flat and the RSI is close to the midpoint, which suggests a balance between buyers and sellers.

BSV/USD daily chart. Source: Tradingview

If the bulls can push the sixth-ranked cryptocurrency on CoinMarketCap above $200, a move to $227 is possible. If the BSV/USD pair turns down from this level, the range-bound action is likely to continue. Instead, if the bulls can propel the pair above $227, a new uptrend is possible.

On the downside, the critical support to watch out for is $170. If this support holds, the pair will extend its consolidation for a few more days. But if the support breaks down, the pair can drop to $146. Traders can wait for the pair to make a decisive move out of the range before initiating a positional trade.

LTC/USD

Litecoin (LTC) has been gradually grinding lower. The bulls have held the 50-day SMA ($45) for the past few days but unless the altcoin bounces off strongly from the current levels, the risk of a breakdown is high.

LTC/USD daily chart. Source: Tradingview

Below the 50-day SMA, the seventh-ranked cryptocurrency on CoinMarketCap is likely to drop to $41.72 and then to $39. If this support holds, the LTC/USD pair might extend its stay inside the $39–$51 range for a few more days.

Alternatively, if the pair rebounds off the current levels, it can reach the overhead resistance at $51. If the price turns down from this level, the range-bound action is likely to continue. But if the bulls can propel the pair above $51, the momentum is likely to pick up. The target objective of this new uptrend is $64.

BNB/USD

Although bulls have not been able to propel Binance Coin (BNB) above the overhead resistance of $18.1377, they have not allowed the price to sustain below the moving averages either, which is a positive sign.

BNB/USD daily chart. Source: Tradingview

The bulls are likely to make another attempt to push the eighth-ranked crypto-asset on CoinMarketCap above $18.1377. If successful, the momentum is likely to pick up. The first target objective is $21.50 and then $24.

Conversely, if the BNB/USD pair slips below the moving averages, the bears are likely to be back in action. They will attempt to drag the pair to $15.50 and then to $13.65.

EOS/USD

EOS has been stuck between the moving averages and the overhead resistance of $2.8319 for the past few days. Both moving averages have flattened out and the RSI is just above the 50 level, suggesting a balance between supply and demand.

EOS/USD daily chart. Source: Tradingview

A break below the moving averages will indicate an advantage to the bears and can drag the ninth-ranked cryptocurrency on CoinMarketCap to $2.3314.

On the other hand, if the EOS/USD pair bounces off the moving averages and breaks out of $2.3314, it will suggest that the bulls have overpowered the bears.

Above this resistance, a move to $3.1104 is possible. If this level is also scaled, the momentum is likely to pick up, which could open the doors for a rally to $3.8811.

ADA/USD

Cardano (ADA) is witnessing profit booking after a strong run. The altcoin can pull back to the 38.2% Fibonacci retracement level of $0.0751964. The 20-day EMA ($0.0748) is just below this level. Hence, the bulls are likely to defend this zone aggressively.

ADA/USD daily chart. Source: Tradingview

If the 10th-ranked cryptocurrency on CoinMarketCap rebounds off the 20-day EMA, the bulls will attempt to propel it above $0.0901373. If successful, the uptrend is likely to resume with $0.1–$0.10652 as the target objective.

Conversely, if the bears sink the ADA/USD pair below the 20-day EMA, a drop to the 50% retracement level of $0.0705811 is possible. A break below this support will indicate that the momentum has weakened.

XTZ/USD

There is a tough tussle between the bulls and the bears near the 20-day EMA ($2.85). If Tezos (XTZ) breaks below the 20-day EMA, it could slide to the immediate support at $2.7301.

XTZ/USD daily chart. Source: Tradingview

The 20-day EMA has been flattening out and the RSI is just above the midpoint, which points to a balance between demand and supply. In the short-term, the 11th-ranked cryptocurrency on CoinMarketCap might remain stuck between $2.7301 and $3.1384.

The advantage will shift in favor of the bulls after the price breaks above $3.1384. Above this level, a rally to $3.60 and then to $3.9499 is possible. Conversely, if the bears sink the XTZ/USD pair below $2.7301, a drop to $2.24 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