BTC/USD Breakout above Resistance Trend Line, Buyers aim $7,200

Latest Bitcoin News Thing is, Bitcoin is just more than a medium of exchange. In 10 short years, the world’s most valuable coin has evolved from being a Cypherpunk thing to a medium of exchange and now it is a solid store of value. It has been so thanks to last year’s super rally. Bitcoin position as a store of value has been also been strengthened by hyperinflation in countries as Venezuela and embargoes on countries as Iran. Also Read: Marc Andreessen: Bitcoin Is a “Very Important Idea” In Venezuela,…

Bitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Woo

Twitter Facebook LinkedIn When the bitcoin price flatlined near $6,500 in mid-October, many crypto analysts predicted that the bears had finally become winded following a market downturn that has persisted for nearly a year and that the market could be primed for a December rally. However, technical analyst and trader Willy Woo does not believe that the flagship cryptocurrency’s immediate future is quite so rosy. Writing on Twitter, Woo said that he does not expect the bitcoin price to find a floor until the second quarter of 2019, meaning that…

Falling Wedge Indicates Interim Breakout Scenario

Twitter Facebook LinkedIn Bitcoin on Tuesday extended its downward momentum, dropping 0.67-percent against the US Dollar. The BTC/USD trading pair opened the Asian trading session at 6288-fiat and attempted an upside correction to as high as 6309-fiat. The selling pressure around the 6309-level resumed the downtrend. As a result, the pair kept forming red candles for the rest of the Asian and European trading session. It is now trading at 6294-fiat. The macroeconomic view of the US Dollar posted bullish sentiment for the currency. But it is not looking the…

XRP Posts 6% Gains as Japan and Brazil Adopt Ripple Tech for Payments

Twitter Facebook LinkedIn Ripple’s XRP token has a posted a 6 percent profit to establish a fresh weekly high towards $0.534. The bullish behavior also got the coin close to replacing Etherum as the second-largest cryptocurrency by market cap. SOURCE: TRADINGVIEW.COM The XPR/USD value appreciated from 0.506-fiat to 0.535-fiat on Monday. The price action underwent a weak downside correction later. It found support at 0.516-fiat and is since hinting a further upside bias. The pair is now trading at 0.532-fiat, looking to reclaim the weekly high, followed by a breakout towards…

Smallcap Token Cobinhood (COB) Gains 14.26% in Wider Market Downturn

Twitter Facebook LinkedIn The COBINHOOD token ‘COB’ has been reported across various sources such as CoinMarketCap as having appreciated significantly over the past 10-12 hours at the time of writing, when compared to the same trading values from the previous 24 hours. Current token value stands at $0.024001, a reported 6.81% increase in average trading price compared to the previous 24hrs. One Day Chart The highest price seen so far has been at 23:04:07 PM (UTC), where the coin rose to 0.027935 USD value from a low of 0.021245 at…

Bitcoin Price Watch: BTC/USD Could Tumble Below $6,250

Key Points Bitcoin price extended losses and traded to a new weekly low at $6,261 against the US Dollar. There is a major bearish trend line in place with resistance at $6,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is at a risk of more declines below the $6,275 and $6,260 support levels in the near term. Bitcoin price is currently in a downtrend below $6,350 against the US Dollar. BTC/USD could tumble once there is a break and close below the $6,250…

Ethereum Price Analysis: Close Below $206 Could Be Destructive for ETH/USD

Key Highlights ETH price is facing a tough resistance near the $209.00 and $210.00 levels against the US Dollar. Yesterday’s highlighted major bearish trend line is intact with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate declines if there is a close below the $206 support. Ethereum price is trading near key supports against the US Dollar and bitcoin. ETH/USD needs to climb above $209 and $210 to avoid a downside break. Ethereum Price Analysis Yesterday, we discussed an important support…

Bitcoin Price Bleeds to Low $6,300 as Investors Carefully Observe the Market

Twitter Facebook LinkedIn Over the last 24 hours, the price of Bitcoin has fallen from around $6,400 to $6,300, recording two consecutive sell candles on its daily chart. Although the volume of Bitcoin remains above $4.4 billion, up more than 46 percent from earlier this month when the daily trading volume of the dominant cryptocurrency averaged at around $3 billion, BTC is struggling to sustain momentum in the mid-$6,000 region. In the short-term, it is highly likely for BTC to retest the $6,200 region unless it swiftly bounces above the…

Ethereum Classic Price Analysis: ETC/USD Could Tumble Below $9.00

Key Highlights Ethereum classic price is currently under pressure below the $9.25 support against the US dollar. There is a major bearish trend line in place with resistance at $9.25 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair remains at a risk of more losses below $9.00 if it fails to move above $9.25. Ethereum classic price is currently in a bearish zone against the US Dollar and Bitcoin. ETC/USD may perhaps continue to decline towards $8.80 or $8.60. Ethereum Classic Price Analysis In…

Ripple Price Analysis: XRP/USD Consolidating Above $0.5000

Key Highlights Ripple price recovered a few points, but it faced sellers near $0.5250 against the US dollar. There is a short term bullish trend line formed with support at $0.5050 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may continue to consolidate above the $0.5000 support in the next couple of sessions. Ripple price is currently trading in a range against the US Dollar and Bitcoin. XRP/USD must break the $0.5200-0.5250 resistance to move into a bullish zone. Ripple Price Analysis Yesterday, we…