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Key Points Bitcoin cash price declined after it failed to break the $445-450 resistance against the US Dollar. There is a connecting bearish trend line in place with resistance at $442 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair must stay above the $430-435 area to avoid a downside break towards $400. Bitcoin cash price is under pressure below $445 against the US Dollar. BCH/USD may continue to face sellers near the $440-450 resistance zone. Bitcoin Cash Price Analysis During the past few days, there were multiple rejections near the $440 and $450 levels in bitcoin cash price against the US Dollar. The BCH/USD pair failed to gain momentum above $450 and remained in a bearish zone. The recent swing high was $445 and the price dipped below the $440 level. The price is currently trading well below the $440 level and the 100 hourly simple moving average. It tested the $434 support area, which is acting as a strong buy zone. The price may bounce bac...

Key Highlights ETH price failed to move above the $203 resistance and declined recently against the US Dollar. There is a new bearish trend line formed with resistance at $201 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains supported on the downside near the $196 and $197 levels. Ethereum price declined towards the range low against the US Dollar and bitcoin. ETH/USD could drop further towards the $197 support level. Ethereum Price Analysis Yesterday, we saw a nice upside move above the $200 level in ETH price against the US Dollar. The ETH/USD pair traded above the $202 level and the 100 hourly simple moving average. It even broke the 50% Fib retracement level of the last drop from the $207 swing high to $198 low. However, the price struggled to clear the $203 resistance zone, which acted as a solid barrier. The price was also rejected near the 61.8% Fib retracement level of the last drop from the $207 swing high to $198 low. As a result, there was ...

Key Highlights ETH price failed to stay above the $202 support and declined recently against the US Dollar. Yesterday’s highlighted important bullish trend line was breached with support at $202 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently under pressure below $202 and it could extend its slide in the near term. Ethereum price broke key support levels against the US Dollar and bitcoin. ETH/USD may decline in the short term towards $198 or $196. Ethereum Price Analysis Yesterday, we saw a short term top near the $207 level in ETH price against the US Dollar. The ETH/USD pair started a downside correction and traded below the $205 level. Later, sellers gained traction and pushed the price below the $202 support. Moreover, there was a break below the 100 hourly simple moving average, which is currently at $202. During the drop, the price moved below the 50% Fib retracement level of the last wave from the $196 low to $207 swing high. More importa...

Key Highlights ETH price declined recently below the $200 level before buyers emerged near $196 against the US Dollar. There is a major bullish trend line with support at $201 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair must clear the $207 hurdle and the 100 simple moving average (4-hours) to gain momentum. Ethereum price is trading near crucial levels versus the US Dollar and Bitcoin. ETH/USD must surpass the $207 and $214 levels to gain upside momentum. Ethereum Price Analysis This past week, there was a slow and steady decline below the $215 level in ETH price against the US Dollar. The ETH/USD pair even traded below the $200 support and settled below the 100 simple moving average (4-hours). The price traded as low as $196 and later started an upside correction. It traded above the $200 level and recovered more than 2%. During the climb, it broke the 23.6% Fib retracement level of the recent decline from the $219 high to $196 low. However, there is a...

Bitcoin so far has been able to find support above the so-called bottom area below $6,000. But it is not enough to beat the long-term bearish bias, according to a famous cryptocurrency analyst. Crypto Thoreau, in one of its  latest tweets , predicted that Bitcoin price is in for a drop towards $3,500. The analyst backed his prediction by a historical price action between early-2014 and mid-2015 in which Bitcoin price can be seen dropping 83.39 percent after forming 626 bars on the daily chart.  The pattern, which looks identical to the one building these days, indicates a similar downside run after a breakdown action of 626 bars in 626 days, eventually to a point where Bitcoin will establish a nearly 83 percent drop to $3,500 by mid-2019. Image Credits: Crypto Thoreau | A Bitcoin-Volume graph indicating price action similarity. It is, of course, theory and even Crypto Thoreau admits that. The fundamental dynamics between the two timelines are poles apart. 2014 and 2015 ...

Key Points Bitcoin cash price traded lower recently and tested the $440 support against the US Dollar. There was a break above a short-term declining channel with resistance at $441 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is struggling to gain momentum above the $450 and $455 resistance levels. Bitcoin cash price is currently holding the $440 support against the US Dollar. BCH/USD needs to clear the $450 level and the 100 hourly SMA to gain traction. Bitcoin Cash Price Analysis There was no upside break above the $460 resistance in bitcoin cash price against the US Dollar. The BCH/USD pair started a downside move and traded below the $450 support. There was also a close below the $450 level and the 100 hourly simple moving average. However, buyers successfully defended losses below the $440 support. The price formed a low at $438 and is currently consolidating. It has moved back above the $440 level with a few positive signs. Moreover, ther...

The question of whether Bitcoin has bottomed already has again surfaced following the latest drop in the digital currency price. Bears have no explanation as to why BTC has been holding this price for so long… as if it were forming a floor. Those bullish can explain this – BTC has fully corrected… and equal to the previous corrections of 0.236 [23% in real value]. pic.twitter.com/8brzXRxBsJ — dave the wave (@davthewave) October 13, 2018 The BTC/USD pair last week fell 7 percent to near 6222 after pursuing a sideways consolidation trend for weeks. There were predictions of an extended sell-off period amidst a bearish crypto market, which targeted 6000 as a potential short target. Also, bears on community forums called for a possible dive below this year’s bottom, predicting a wild swing action towards 4500, which upon testing would wake the bulls, and Bitcoin would reverse the trend. But, as the aggregated BTC price data details, BTC downtrend has already been deflected. Bitc...

Key Highlights ETH price declined heavily and traded as low as $184.5 against the US Dollar. There are two important bearish trend lines in place with resistance at $208 and $218 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may correct higher, but there are many hurdles near $207 and $212 on the upside. Ethereum price is facing many barriers versus the US Dollar and Bitcoin. ETH/USD remains at a risk of more losses as long as it is below $212. Ethereum Price Analysis This past week, there was a sharp downside move from the $234 resistance zone in ETH price against the US Dollar. The ETH/USD pair tumbled and broke the $206 and $200 support levels. It tested the $184-185 support and formed a low at $184.5. The price later started an upside correction above $190, but it is still way below the 100 simple moving average (4-hours). It has moved above the 23.6% Fib retracement level of the last decline from the $230 high to $184 low. However, there are many res...

So you’ve pivoted to the upper echelons of your newfound expertise and are looking to increase your skill set to enable a greater understanding of the markets. When combined with other technical tools, pivot points are valued among day traders for their ability to analyze price movement of an asset as well as defining the support and resistance levels during a short-term trading session. What are pivot points? Pivot points were first developed by floor traders to predict support and resistance levels in the equity and commodities markets. They can also help to determine overall market trends, whereby if prices break upward past a certain area they can be considered bullish or, conversely, bearish if they pass below the same region. The most common way to calculate a pivot point is the “five-point system.” This comprises an average of the numerical high, low and close of the previous trading period to plot a course for five levels: two sets of supports, two sets of resistance l...

Key Highlights ETH price found support near the $213-214 zone after yesterday’s decline against the US Dollar. There was a break above a key bearish trend line with resistance at $221 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently trading with a positive bias above the $218 and $220 levels. Ethereum price is slowly recovering against the US Dollar and bitcoin. ETH/USD is likely to correct further higher towards the $230 level in the near term. Ethereum Price Analysis Yesterday, we saw a major downside move below $220 in ETH price against the US Dollar. The ETH/USD pair even broke the $218 level and traded towards the $213-214 support zone. A low was formed near $214 and later the price started an upward move. There was a break above the $218 resistance and the 23.6% Fib retracement level of the recent decline from the $239 high to $214 low. More importantly, there was a break above a key bearish trend line with resistance at $221 on the hourly ...

Key Points Bitcoin cash price gained traction and moved above the $500 barrier against the US Dollar. There is a key contracting triangle in place with support near $510 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to break higher towards the $575 and $600 levels in the near term. Bitcoin cash price is trading in a bullish zone above $500 against the US Dollar. BCH/USD may continue to find buyers on the downside near $500 and $480. Bitcoin Cash Price Decline This past week, there was a solid rally in bitcoin cash price from the $400 support zone against the US Dollar. The BCH/USD pair surged above the $450 and $500 resistance levels to move into a positive zone. There was even a close above the $475 level and the 100 simple moving average (4-hours). The price traded as high as $592 and later started a downside correction. It corrected below the 23.3% Fib retracement level of the last wave from the $424 low to $592 high. However, the d...

Key Points Bitcoin price gained bullish momentum and surged above the $6,480 and $6,550 resistances against the US Dollar. Yesterday’s highlighted key bearish trend line was breached with resistance near $6,475 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair traded above the $6,900 and is currently correcting lower towards key supports. Bitcoin price broke key resistance at $6,550 against the US Dollar. BTC/USD is back in a bullish zone with a close above the $6,620 high. Bitcoin Price Analysis Yesterday, we discussed a few important hurdles near $6,550 in bitcoin price against the US Dollar. The BTC/USD pair traded in a range above the $6,400 level and later surged higher. The price started an upward move and cleared the $6,480 and $6,550 resistance levels. Moreover, there was a break above the last swing high at $6,620 and the 100 hourly simple moving average. During the upside, yesterday’s highlighted key bearish trend line was breached with res...

Key Highlights Ripple price found a strong buying interest around $0.3120 and recovered sharply against the US dollar. There was a break above a key connecting bearish trend line with resistance at $0.3340 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair tested the $0.3550 resistance and is currently consolidating gains above $0.3200 . Ripple price reversed yesterday’s losses and gained traction against the US Dollar and Bitcoin. XRP/USD broke the $0.3350 level to move into a positive zone. Ripple Price Upside Move Yesterday, we saw a bearish reaction below the $0.3300 level in Ripple price against the US Dollar. The XRP/USD pair tested an important support area near $0.3120 where buyers emerged. A low was formed at $0.3125 before the price started an upside recovery. The price broke the $0.3300 resistance to start a decent recovery. Later, it cleared the 61.8% Fib retracement level of the last drop from the $0.3534 high to $0.3125 low. It opened ...

Key Points Bitcoin price declined and tested the $6,200-6,220 support area against the US Dollar. There is a major bearish trend line forming with resistance near $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting higher, but it could struggle to move past $6,480 and $6,500. Bitcoin price failed to move above $6,600 recently and declined against the US Dollar. BTC/USD is recovering, but it may possibly continue to face sellers near $6,480. Bitcoin Price Analysis There was yet another failure near the $6,550 resistance in bitcoin price against the US Dollar. The BTC/USD pair topped at $6,549 and started a downside move. It broke the $6,350 and $6,300 support levels. It traded close to the $6,200 where buyers appeared and defended more losses. A low was formed at $6,222 before the price started an upward move. The price recovered above $6,300 and the 38.2% Fib retracement level of the last decline from the $6,549 high to $6...

Key Highlights ADA price made a nice upside move from the $0.0845 low and broke $0.100 against the US Dollar (tethered). There was a break above a major bearish trend line with resistance at $0.0980 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair must is currently correcting lower and it remains well supported above $0.090. Cardano price is following a bullish path against the US Dollar and Bitcoin. ADA/USD is likely to move past $0.1000 and $0.1100 for more gains in the near term. Cardano Price Analysis There was a decent support base formed near $0.0845 in cardano price against the US Dollar.  The ADA/USD pair started an upside move and traded above the $0.090 and $0.1000 resistance levels. It even broke the $0.1100 level and formed a high near $0.1121. During the upside move, the price also cleared a strong sell wall near the $0.1050 level and settled above the 100 hourly simple moving average. Moreover, there was a break above a major beari...