Various Technical Indicators are Showing Bitcoin is Severely Oversold

Williams %R, a technical analysis oscillator that demonstrates oversold or overbought conditions of an asset, is demonstrating highly oversold conditions for Bitcoin. As Olga Kharif at Bloomberg reported, the Williams Percent Range (WPR) of Bitcoin is hovering at around -83 percent. In WPR, -80 to -100 percent is considered oversold and -0 to -20 percent is oversold. Analysts state that the oversold condition of Bitcoin demonstrated by WPR could lead to a short-term corrective rally in the future, which may enable Bitcoin to break out of a major resistance level…

Bitcoin Price Technical Analysis: BTC/USD Hinting Breakdown Action

Bitcoin price on Wednesday recorded a marginal drop of 0.25 percent against a strong U.S. dollar. The BTC/USD today stayed on its prevailing sideways trend, exhibiting intrarange fluctuations of just around $100. The pair began the Asian trading session sheepishly, forming lower highs towards 6308-fiat and lower lows towards 6219-fiat. The sideways sentiment continued as the pair headed into the European session. The Bitcoin market generally suggested an equivalency between supply and demand. Traditionally, the period of consolidation should continue until a breakout/breakdown action gives it away. BTC/USD Technical Analysis…

Bitcoin (BTC) Technical Analysis: Prices Reversing From $6,000

From a top down approach, it’s clear that sellers are in charge as BTC is down a massive 11 percent thanks to Sep 5 selling spree. Regardless, there is optimism for cryptocurrencies and Bitcoin in particular stemming mainly from bullish fundamental developments. This divergence means there is potential for BTC to recover in coming days. Because of yesterday’s double bar reversal pattern right at $6,000, a foundation for a potential recovery above this descending wedge is probable. From the News Around this time last year, Bitcoin and China were synonymous.…

EOS, Litecoin, Stellar Lumens, IOTA, Tron Technical Analysis

As altcoins prices fluctuate, out trade plans continue to hold true. While we remain bullish on most coins as EOS, Tron, Litecoin and IOTA, the latter shows promise. It all has to do with on chain development and with Roman simulation prove that it’s possible for the tangle to reach consensus within seconds and process up-to 11,500 TPS, IOTA investors should be upbeat—and they are. Just finished a basic test of ~95.000 network simulations for our consensus theory. Confirmation time from few seconds up to few minutes depending on the…

Ethereum (ETH) Technical Analysis: Ethereum (ETH) Undervaluation Persists

Contrary to sentiment and upbeat expectation from within the crypto market, Ethereum is struggling against sellers. At spot prices, the second largest coin is down four percent. This is amid claims of discontentment  by some developers that the Constantinople hard fork deadline and expectations are overwhelming—if not unrealistic. From the News In a bid to contribute towards a more open financial system that helps foster creation of equal opportunities, efficiency and above all economic freedom via cryptocurrency and blockchain, CoinBase will try to evangelize the benefits of crypto and innovate…

IOTA, EOS, Stellar Lumens, Cardano, Litecoin Price Technical Analysis

It’s a ball park four percent gain in the altcoins market with IOTA spearheading the recovery with a 15 percent gain yesterday. Based on price action, we expect a continuation of yesterday’s greens and in that case positives in ADA, Stellar Lumens, IOTA, EOS and even the deep Litecoin which is less than $5 from $50 main support line. Let’s have a look at these charts: EOS Technical Analysis EOS Daily Chart by Trading View Though the EOSIO blockchain is vulnerable to RAM exploitation, the community is always innovating devising…

EOS, Litecoin, Stellar Lumens, Monero, Cardano (ADA) Technical Analysis

On a second look, there is a low level altcoin loss reversal in the making. Prices are in the red but with a five percent gain in Bitcoin over the same period, we might see higher highs in EOS, Litecoin, Monero, Stellar and Cardano (ADA) today if not for the rest of the week. The reason is simple: Bitcoin leads the altcoin market. Since most are pegged to it, any gain or loss in Bitcoin would draw altcoins in that direction regardless of coin specific fundamentals in question. Let’s have…

Litecoin (LTC) Technical Analysis: Litecoin Mass Adoption a Priority, Not Price

Superseding everything else is mass adoption and that is what Litecoin figure heads and Foundation is pushing for. Currently price isn’t center stage, coin demand is and for obvious reasons: the later precedes value. While we might see short term recoveries edging prices towards $70, our break out levels, news of adoption break through or announcement of strategic partnerships aside from CoinBase efforts might ignite a wave of loss reversals with first targets at $110, the upper limit of our former trade range. From the News Whether Litecoin is undervalued…

Stellar Lumens, Tron, Litecoin, EOS, IOTA Technical Analysis

On a positive note, altcoins are stabilizing near our historical reversal drops—90 percent down from 2017-18 peaks. For now, we recommend taking a neutral to bullish stance especially in Litecoin, Stellar Lumens—retesting a monthly support trend line, IOTA and EOS. Fundamentally, TRX might get a boost but that’s largely dependent on the reception of their virtual machine launch. Let’s have a look at these charts: EOS Technical Analysis EOS Daily Chart by Trading View By adding three percent, EOS prices remains relatively unchanged oscillating within our previous $1 trade range…

Bitcoin Cash (BCH) Price Technical Analysis: Sellers Reversing 2017 Gains

On a weekly basis, Bitcoin Cash is stable shedding less than one percent all due to higher highs attempts by end of last week. Though there were expectations of a price follow through, it appears as if sellers are having the upper hand. Bears are likely to reverse those gains and edge towards $300 regardless of the technical developments and scheduled hard fork of Nov 15. From the News 97 days after forking in May 15, Bitcoin ABC, the development team behind Bitcoin Cash “peer to peer electronic payment system”…