Jump to content

FXOpen

MEMBER
  • Content count

    70
  • Joined

  • Last visited

  • Time Online

    56m 26s

About FXOpen

  • Rank
    Member

Personal Information

  • Gender
    Not Telling
  • Country
    Saint Kitts And Nevis

Contact Methods

  • Website
    http://www.fxopen.com/
  1. Bitcoin Up by 13 Percent Bitcoin is currently quoted at $8,520 dollars per coin, up by $952 dollars since our last update. This is a gain of close to 13 percent, 12.82% to be exact. This is largely a technical rebound after the large +50% drop that transpired from January 28th to February 6th. During this time bitcoin peaked at $12,161 dollars only to drop to a low of $5,980 only ten days later. The major source of market stress during this time was news that the U.S. government subpoenaed both Bitfinex and Tether. On the daily charts, BTC/USD technically remains in a downtrend. Before we can call this trend over we need to see a decisive breakout above the $9,475 swing high. Above here the $10,000 round figure should act as resistance but a more important level is $12,161 dollars. A breakout above it could start a new rally. Below current prices, we find weak support at the previous swing lows of $7,841 and $7,705, followed by the $7,000 and $6,000 round figures. The multi-month low at $5,980 dollars is another notable support, a break of which could intensify the losses. On the weekly charts, BTC is range-bound while the monthly is still keeping the bullish bias. Read about LTC/USD in our blog.
  2. Sure, many people do. You can try cryptocurrency trading on a demo account first.
  3. Bitcoin Drops by 40 Percent in 6 Days The news about the Tether subpoena last week shook market confidence. Bitcoin prices dropped by 40 percent in 6 days to hit a low of $5,980 dollars. Here we got somewhat of a rally to $8,468 dollars but there is no certainty that this will be more then a ‘dead cat’ bounce. We are quoted at $8,415 dollars right now, much below the $19,850 all-time high. The downtrend on the daily charts continues. To end it the bulls will need to push prices above $12,000 dollars. A new uptrend requires a breakout above the $12,982 swing high. Support on the way down can be found at the most recent swing low at $5,980 followed by the $5,000 round figure. This is an important milestone for BTC/USD as well as a previous major resistance. A clear break of this level could lead to more BTC losses. On the longer-term weekly charts bitcoin is range-bound. The monthly charts are still keeping the bullish bias. Read about LTC/USD in our blog post.
  4. Ether Rallies 13% then Loses All Gains Ether prices rallied over 13% versus bitcoin yesterday and hit 0.121 BTC per coin. The highs were quickly sold into however as the general crypto market saw declines. Bitcoin is currently down almost 15% versus the U.S. Dollar and that usually triggers altcoin losses as well. The ETH/BTC pair is quoted at 0.0976 right now. As you can see on the chart above, the V-shaped formation shows that all gains during the past 24 hours have been lost. Nonetheless the pair remains in an uptrend. To end it the bears will need to push us below the 0.087 BTC swing low. A break below 0.08 BTC may start a new downtrend. Above these levels we find support at 0.095 BTC. Higher up there’s resistance at yesterday’s high of 0.121 BTC followed by the 0.15 round figure and the 0.15098 all-time high. On the longer-term weekly and monthly charts ETH/BTC is still looking bullish. Read about DSH/BTC in our blog post.
  5. Bitcoin Drops on Tether Subpoena Bitcoin prices dropped over 10 percent today after Bloomberg leaked a rumor that the U.S. government subpoenaed both Bitfinex and Tether. The outstanding supply of tethers snowballed since December of last year, from below 1 billion to over 2.3 billion. In other news yesterday Tether announced that they were terminating the audit that was expected last year: ‘Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable timeframe,” Tether said.’ According to some speculators, the two companies are printing tethers without USD backing to support crypto prices. More on this controversy HERE. The technical picture is unchanged. Bitcoin is still in a downtrend on the daily charts. To end it the bulls will have to push us above the $13,000 handle. A break below the $9,211 swing low could exacerbate the losses. On the longer-term charts BTC/USD is still keeping the bullish bias. Read also about LTC/USD in our blog post.
  6. Bitcoin Stable in a Downtrend Bitcoin prices have been volatile during the past seven days but ultimately ended up close to where they started. We are only down by $364 dollars since last Tuesday or around 3.1 percent. This is a very small percentage change for a crypto-currency. On the chart above the most recent week is shown with a rectangle. Above current prices we find some resistance at $11,595, $12,629 and $12,992 dollars. But the bulls need a breakout above $14,559 dollars to end the current downtrend. A move beyond $17,231 could re-start the rally in BTC/USD. Despite the recent stability, bitcoin remains in a downtrend. Support below can be found at $10,680, $10,000 and $9,211 dollars per coin. A move below here could intensify the losses. On the longer-term weekly and monthly charts BTC remains in an uptrend. On the news front not much new for bitcoin. Today Goldman denied rumors that the Bank will get involved with market making in bitcoin futures. This throws more cold water on the hype around BTC futures, which largely didn’t live up to market expectations. Read also about LTC/USD in our blog post. Start bitcoin Metatrader trading with FXOpen!
  7. Bitcoin Switches to Downtrend After a long time bitcoin is finally in a downtrend on the daily charts. The last time this happened was during September of 2017 and the move lower lasted two weeks with prices eventually bottoming out near the $3,000 mark. One BTC is selling for $11,550 dollars right now. Resistance on the way up can be found around $12,600 – $12,700 dollars per coin, followed by the $15,000 round figure. A breakout above the $17,231 swing high would switch the current trend from down to up. On the way down we have support at the $10,680 swing low, followed by the $10,000 round figure. A clearing of this psychological support area could intensify the losses for bitcoin. On the weekly and monthly charts BTC remains in an uptrend. However keep in mind that changing these two trends will require many weeks/months. More bad news for bitcoin. China is looking to expand the scope of its September crypto exchange ban. Authorities may seek to “end” all forms of centralized trading for Bitcoin and altcoins. The increasingly crypto-hostile government seems to be putting pressure on bitcoin miners as well. According to the FT, a combination of measures will be used to ‘guide’ crypto miners toward an exit. South Korea may clamp down on crypto trading as well. Finance Minister Kim Dong-yeon said earlier today that banning trading in digital currencies was “a live option.” The decision is subject to a thorough government review. This triggered a sharp drop in the price of BTC yet again. After China’s fiat-to-crypto exchange ban last year, South Korea now accounts for the majority of bitcoin trading volume. Read about Litecoin on FXOpen blog
  8. Bitcoin Range Continues After ending the rally on December 22nd bitcoin remained in a range. The top of this range is at $19,850 all-time high while the low is at the latest major swing low of $10,680. A break beyond either of these price extremes could usher in the new trend. For now we remain in ‘wait and see’ mode. On the upside, we have weak resistance at the $15,000 round figure, followed by the latest swing high at $16,470 dollars. Higher still we have two weaker levels at the former swing highs of $17,147 and $17,547 dollars. A major resistance area can be found near the all-time high at $19,850 extending to the $20,000 round figure. A decisive breakout above this important milestone should lead to a new bullish trend on the daily chart. Support on the way down can be found at $12,711 followed by $11,591 dollars. As noted above the $10,680 swing low is a potential downtrend starter. Further down we have the $10,000 round figure, which may act as support to falling prices. On the longer-term weekly and monthly charts, BTC remains in an uptrend. Yesterday’s Gemini auction had a volume of only 0.07 BTC, signalling that most of the market checked out for the holidays. As market participants slowly return from the festivities we should see a pick up of volume and hopefully some directional moves. You can read about LTC/USD in our blog post.
  9. Bitcoin Rally Ends The uptrend started in November is finally over for BTC after prices broke below the important $12,711 swing low last Friday. Subsequently, we saw a low of $10,680 on FXOpen. From here we retraced most of the losses with prices topping out at $16,470 yesterday. We are currently quoted at $13,628 dollars per coin. As you can see on the chart above, we are now in a range. A new rally requires a breakout above the $20,000 round figure. A new downtrend may commence if prices fall below the latest swing low at $10,680 dollars. For now, we remain in ‘wait and see’ mode. Here are some of the important support and resistance levels for bitcoin. On the upside, we have the latest swing high at $16,470 dollars, followed by two weaker levels at the former swing highs of $17,147 and $17,547 dollars. Higher still we have a major resistance area comprised of the all-time high at $19,850 and the $20,000 round figure. A decisive breakout above this important milestone should lead to a new bullish trend on the dailies for BTC/USD. On the longer-term weekly and monthly charts, bitcoin remains in an uptrend. Read also about LTC/USD on FXOpen blog.
  10. Another good week for crypto-currencies. Bitcoin is continuing its climb higher, now in its fifth week with sizeable gains. Litecoin prices have gone parabolic, up from $99 last Tuesday to $301 dollars today. Bitcoin Continues Bullish Trend The bullish trend that started last month is still in play for bitcoin. Yesterday we hit a high of $17,547 dollars per coin, up from $11,712 last week. This is a gain of $5,835 dollars or just under 50 percent. We are currently quoted at $16,473 dollars. If prices close above $14,350 this Sunday, it would be the fifth green week in a row with large gains. To end the current uptrend the bears will have to stage a decisive break of the $10,000 round figure. A new downtrend requires a move below the support area around $7,874 dollars per coin. Above the important $10,000 round figure support can be found at $10,279 swing low and the swings highs at $11,427 and $11,831 dollars. These are followed by more support at the $12,711 swing low and the $15,000 round figure. Considering that we’re trading only few percent below all-time highs, there’s not much in terms of resistance above current prices. The all-time high at $17,547 is a notable level as are the $18,000 and $19,000 round figures but these may not provide much resistance. A stronger level can be found at the $20,000 round figure where some market participants may take profit. On the long-term weekly and monthly charts BTC/USD is still looking bullish. The news cycle has benefited bitcoin. The first futures on traditional markets launched on Sunday at the CBOE. You can follow a delayed price feed for the January contract HERE or HERE. Currently they are trading at $16,870 dollars, a relatively small premium to spot prices. Premiums swung widely since launch however, nearing $1,500-$2,000 dollars at times. Read about Litecoin in cryptocurrency analysis on FXOpen blog.
  11. Altcoins are getting sold aggressively for BTC. Since last Thursday BTC/USD gained over 60 percent while ETH/BTC dropped by close to 45 percent. Now both ETH and Dash are in a bear market versus BTC. ETH/BTC Drops by 45 Percent Ether has lost almost 45 percent of its value versus bitcoin. There’s a speculative rush into BTC, likely preempting the launch of bitcoin futures. The CBOE announced that they will launch bitcoin futures this Sunday at 6 PM EST. Their competitor the CME will do so 8 days later. Today the price of bitcoin hit a new all-time high of $16,614 dollars per coin, peaking at close to $20,000 on some other exchanges. Right now we are trading close to the Fxopen highs at $16,600 dollars. The surge in BTC/USD has led to a massive sell-off in altcoins, with ETH/BTC dropping by 44.83 percent in only seven days. As we said back on Thursday, the bears need to push ETH/BTC below the 0.03712 lows to start a new downtrend. As can see on the chart above since that break the losses in this pair has been massive. A move back above the 0.05 round figure is needed to end this downtrend. A break above the 0.05906 BTC swing high would shift the trend to the upside. On the longer-term charts ETH/BTC is in a downtrend on the weekly chart but in an uptrend on the monthlies. Read about Dash Trend Shifts and Bitcoin on FXOpen blog
  12. Bitcoin Clears $12,000 Dollars After fighting with the $12,000 level BTC finally managed to clear it and head higher. Today we hit a high of $12,478. We are currently quoted close to the daily highs at $12,460 dollars. The rally that started three weeks ago is still in play. To end it we need to see a break below the $8,650 level. Just above here we should have solid support at the $8,811 swing low, followed by the $10,000 round figure. Considering that we’re near all-time highs for BTC/USD, there’s not much resistance on the upper end. Further up the $15,000 round level is another notable resistance. The ‘smaller’ round levels at $13,000 and $14,000 may act as resistance as well. On the long-term charts (both weekly and monthly) #bitcoin remains in a bull market. Bitcoin got a lift from a positive news cycle this weekend. The CBOE futures exchange announced that it will list bitcoin futures on December 10th, eight days before the launch of CME futures. The sudden decision to launch early seeks to seize the first mover advantage in this emergent asset class. Trading will start on Sunday at 18:00 EST. Initially, trading fees will be waived during December. The CBOE futures will be listed under the ticker XBT and will cash-settle based on the Gemini auction. Read about Litecoin on FXOpen blog
  13. Failed Breakout for ETH/BTC Ether had a brief break above the upper end of the range at 0.05545 BTC. A high of 0.05906 BTC was seen on November 25th but prices topped out here. We are currently trading much lower at 0.0435 BTC per coin. After that failed breakout ETH prices are back in a range. The threshold to start a new rally has now moved to 0.05906 BTC. On the lower end the bears need to push ETH/BTC below the 0.03712 lows to start a new downtrend. On the longer-term charts the picture is mixed. On the weekly charts prices are looking bearish but on the monthly the situation is reversed, with ETH still in an uptrend. Read also about Dash and BTC on FXOpen blog
  14. Bitcoin Breaks $10,000 Mark Bitcoin prices hit a high of $10,720 dollars today, breaking the psychological $10,000 level. We are currently quoted just slightly off the highs at $10,660 dollars per coin. Naturally the rally is still in place, to end it the bears will have to push BTC/USD below the $7,769 swing low. Support above here can be found at the $7,887 and $8,369 swing highs. Somewhat weaker support levels are the round figures at $8,000 and $9,000 dollars per coin. A new downtrend requires a breakdown below the $5,426 swing low. Further down we have strong support at the $5,000 round figure. Given that we’re at all-time highs there are no previous resistance levels to note above current prices. It’s hard to say where prices may stop/pause as the $10,000 level is decisively broken. Other round figures like $10,500, $11,000 etc may act as resistance, at least temporarily. On the longer-term charts (both weekly and monthly) bitcoin still looks bullish. Read about LTC/USD on FXOpen blog
  15. Ether Still in Range Despite being up 5.25% today and 17 % since our last update, ether is still in a trading range (vs BTC) on the daily charts. Against the U.S. Dollar, ether peaked above the $400 round figure earlier today and is nearing its all-time high at $415 dollars. As you can see on the chart below, ETH/BTC hasn’t broken the two important swing points at 0.03712 on the downside and 0.05545 BTC on the upside. No clear trend can emerge until one of these levels is decisively broken. Below 0.05545 we find two weaker resistance levels at the 0.05 round figure followed by last week’s high at 0.0541. On the longer-term charts we have a downtrend on the weekly but uptrend on the monthlies. Read about DSH/BTC and BTC/USD on FXOpen blog
×

Important Information

By using CRYPTOCURRENCYTALK.COM, you agree to our Terms of Use.