This week the market was shuffling down and traded in the red. It could be because of the Chinese trying to soothe the hype created around blockchain. They are currently trying to focus on the distinction between Bitcoin and cryptocurrency market and the blockchain technology. Bitcoin’s downturn to the $8,000 area is driving the market’s reaction as the trade volume declines and the fear index rises. Despite the bearish momentum, some altcoins were in the green. Fusion, for example, surged by 300% this week and others have also emerged which shows a mixed trend and further indicates the state of confusion in the cryptocurrency market over the past week. This week, the Bank of America shut down the account of PayPal’s ex-CFO despite him being a client for over 20 years. He shared this

BitcoinThis week the trend is clearly bearish. Bitcoin price lost support at $8,500 and it corrected to the area around $8,000. If support here fails, the price could continue going down to $7,450. The attempts to break up from the downward trend should also be considered. The resistance is at $8,200. Previously, the support line that we marked in October was broken and it was quite sharp. The targets are based on previous breakouts of this trend.EthereumAgainst the USD, ETH lost support at $180 and is pulling down to $170. It’s hard to tell if that’s the support compared to the dip that we saw in October when the price dropped all the way down to $153. These levels must be taken into account. The resistance is at $180 around the 50MA.Against Bitcoin, the price behaves differently and the

We saw a busy week with events and attempts to influence the price. Bitcoin lost a key support level of $9,000 in a sudden move downwards which took its price to where it currently trades at around $8,700. However, the volatility continues and traders who’ve taken up leveraged positions might be in trouble as it’s quite difficult to keep up with the market.The month begins with a little enthusiasm and a quick correction which reminds us that the end of the year is approaching and there’s not a lot of time for the cryptocurrency market to move. Those who plan their taxes will have to close their positions. However, we saw an upward trend throughout most of the year and we don’t expect to see a realization of losses right before the end of the taxation period.On the other hand, Bakkt’s

BitcoinThe support at $9,000 failed and the price now hovers around the area at $8,600. The downward trend is something that a lot of analysts think will continue. The resistance around $8,900 is where the most recent breakout attempt came. It’s also important to consider the level the price could dip to if the 50MA is breached.EthereumAgainst the USD, the volume is increasing and support is around $180 on the 50MA line. If it’s breached, the next support can be expected at $170. Resistance in this range is at $200 and the price breaks above it, the next one is at the 200MA around $220.Against Bitcoin, the trend continues to be positive as the support at 0.02BTC holds. Resistance is at around 0.022BTC. However, the RSI remains high and a short-term correction should also be taken into

The surge of interest in China woke up the entire cryptocurrency market and boosted Bitcoin’s trading volume. Yet, Bitcoin maintains relative stability, and the market is waiting to see the direction in which it will take off towards the end of the year.The altcoin market also felt the surge, and it seems that a lot of them are strengthening their communities and surviving the harsh crypto winter. Moreover, we continue to see a lot of additional fundraising and, perhaps, the relatively small fine that EOS paid won’t scare off entrepreneurs to seek funding, and we could see another wave like the one back in 2017. However, many investors have learned from their mistakes and are no longer in a hurry to throw their money at baseless promises.When it comes to Bitcoin, the week was fairly

BitcoinOn the daily chart, Bitcoin’s price was maintained by the support in the range of the 200MA which is forming around $9100. It’s fragile and it could lose altitude down to the $8600 area. Resistance in this range is at around $9600 and it seems stable. However, it should be accounted for the fact that the market is in a volatile period and it’s not advisable to hold Stop-Loss orders these days.EthereumAgainst the USD, ETH failed to break the resistance at $190 and the price was supported around the 50MA. Support is found around $177 and the trend line has been breached. The strong resistance in the 200MA hasn’t been tested yet.Against Bitcoin, we saw an attempt to break 0.2BTC. Support in this range is around 0.019BTC. Meanwhile, the price is producing higher lows than before which

It appears that China is waking up to blockchain, and this did to the market what Bakkt’s futures failed to. President Xi Jinping urged further adoption of blockchain-based technology, and his statement might have been one of the reasons for Bitcoin’s 40% surge over the past few days.Indeed, Bitcoin had its best week since May. It’s not the first time that statements from China have rocked the markets, although this move left most technical analysts surprised. It also saw a lot of short positions liquidated, especially for those traders who were counting on a correction to $6,000. Now the market is pulling back, and investors are trying to figure out whether the trend is strong enough to sustain itself or if it’s just a bull trap.The timing of the news from China came as the market entered

BitcoinThe spike from $7,350 to $10,348 brought the hype around Bitcoin back and the declines are already behind our backs. The price corrected down to $9100 and we can also see attempts to build support in this range and the 0.38 Fibonacci levels, suggesting a bullish trend on the charts. A healthy correction would restore the 0.618 Fibonacci levels in the $8500 range, leading up to the next level at $10,200.EthereumAgainst the USD, the price is trying to break the resistance built around $190. If it does get through, we can expect the next resistance at $220. The support in this range is around $175.Against Bitcoin, the price is trading around the support where, last week, we saw the levels around 0.019BTC acting as a two-year support. The resistance in this range is at around

Bitcoin continues to lose ground, and the price has remained in the range into which it fell at the end of September when the last sharp correction occurred. It didn’t scare the market away, and money has continued to flow into altcoins which are starting to see a change in the trend. The altcoin market is showing positive signs, but we still don’t expect an “altcoin season” anytime soon.This week, the 18 millionth bitcoin was mined, and the halving is just around the corner. It will be interesting to see how miners behave, as mining will become less profitable overall and they will increasingly rely on the network’s transaction fees.The cryptocurrency market sentiment changes from one moment to another. As the price goes down, the media is flooded with Bitcoin obituaries, while as the

BitcoinThe price was supported on critical levels as indicated in the chart. Meanwhile, it holds positively and produces higher lows that are technically healthy. However, it should be considered that a potential correction could set us back as far as $6,000. Support in the $8,000 range held this week. We saw a failed attempt to break above the 200MA and the upward trend stopped at $8,350.EthereumAgainst the USD, the price has been relatively stable since the last correction. Resistance is at $195. Support in this range is at around $170. The RSI is low and despite the increase in sellers, the price hasn’t been affected.Against BTC, the trend was broke and we’re looking for support. Meanwhile, it’s in the 0.021BTC range. The next level of support is expected at 0.02BTC. Resistance in this

This week, the market continued to stagnate, but we saw some promising signs in the altcoin arena. While most of the attention was directed toward Bitcoin and whether its price support will hold, many traders’ interest seems to have shifted to altcoins.Bitcoin’s dominance rate declined since peaking at 72%, and other cryptocurrencies finally managed to reclaim some ground.Despite the fact that during the past 3 months Bitcoin’s price has shuffled up, its current price point is still respectable compared to the beginning of the year when it was trading in the low $3000’s.Meanwhile, big companies are abandoning Facebook’s Libra, including PayPal, Visa, and Mastercard. There are growing fears that the project won’t launch at all. However, Facebook has said that it will continue with its work

BitcoinWe saw an attempt to break down the resistance at around the 200 MA. Support in this range holds at about $8,000. If it fails, we can expect testing lower levels and this will spell bad news for the market. The chart seems to be technically primed for a turning point.EthereumAgainst the USD, we saw attempts to return to the $200 levels. In the meantime, resistance is currently at $190 while support is at $160. The market could be testing it.Against BTC, the cryptocurrency continues to cautiously push above the resistance at 0.022BTC and we might have to account for a correction in the trend. Resistance is currently at 0.023BTC.XRPAgainst the USD, the price continues to push against the 200 MA. There is a serious resistance at 32 cents but in order to get there, the price has to push

The past week was concerning for Bitcoin bulls, as the BTC price plunged below $8,000. The volatility around this price level and the technical behavior observed on the charts gave traders plenty of room to work with.Fears of a potential return to the bear market also increased this week as the price continued to fall. There are, however, optimists who think that the correction is healthy for the market. In addition, the saga involving Tether and big market manipulation also added to the tension.Altcoins are a mixed bag. There are some like Chainlink which rose around 30% and XRP which gained 7%. At the same time, their declines against Bitcoin halted, and some altcoins have even shown signs of bottoming out. In any case, 2019 has so far been rather bad for the altcoin markets.Telegram’s

BitcoinBitcoin’s price is shuffling around $8,000 which is also the support in this range. The situation hasn’t changed a lot since the previous week. Resistance is built around the 200MA at $8,400. The triangle that we see on the chart becomes bearish. Breaking the trend will change the picture. Taking into account all the increases during this year, when we saw sharp corrections they were usually followed with attempts to surge back up, especially in light of quick declines as it was this week. It’s interesting to see if the effect on the price is only for the short term.EthereumAgainst the USD, the price hovered around the support this week at around $170. The resistance at $180 hasn’t been breached during this week. We can see another last-day attempt and if it breaks, the next