Author: Fakhan

Cardano (ADA) Hits Rock Bottom, Eyes Trend Reversal

Cardano (ADA) is trading at the lower half of the pitchfork on the ADA/BTC chart above. This means that the cryptocurrency has already completed its correction and formed a bottom. RSI conditions for ADA/BTC still show price action to be in downtrend even as it trades under oversold conditions. The VIX profile for the same ADA/BTC weekly chart also shows a strong sign of a bottom formation. The fo...

Is Ethereum (ETH) In Legal Trouble?

Chart for ETH/USD (1W) Ethereum (ETH) had been under a lot of heat from regulatory bodies over its status as a noncompliant security. While this debate may not have much weight in the case of other cryptocurrencies, it holds a lot of significance in the case of Ethereum (ETH) owing to a sale of 60 million ether tokens by The Ethereum Foundation in July 2014. This sale raised 31,000 Bitcoin (BTC) v...

Why Lisk (LSK) Is A Rip-Off Below $3

Chart for LSK/USD (1W) Lisk (LSK) is the popular fork of a cryptocurrency known as Crypti. The ambitious cofounder of Lisk, Max Koredk created the fork version to build his own blockchain for smart contracts and Dapp development. This happened in 2016, the same year Microsoft partnered up with the project for help with its Microsoft Azure Service. Lisk (LSK) recently lost its place in the top 20 l...

How Low Can Bitcoin (BTC) Afford To Fall?

Bitcoin (BTC) has practically done nothing for the last few weeks. The next few days have the potential to decide the fate of Bitcoin (BTC) for the months ahead. So far, the cryptocurrency has done well to stay above $6,000 but having breached that level once, it would not be a surprise if it did that again. However, this time around the consequences will be grave if something like that happened. ...

Ripple (XRP) Might Touch $5 In Q1 Of 2019

Ripple (XRP) is about to begin a new trend. The daily chart for XRP/USD shows that Ripple (XRP) has already broken out of the bullish gartley formation and is due for a breakout anytime now. RSI for the above chart shows that Ripple (XRP) has already broken its downtrend and is now waiting for the rest of the market to recover so it can resume its bull trend. This is not the first time a weak Bitc...

Binance Coin (BNB) Might Take Tether (USDT)’s Spot

Chart for BNB/BTC (1D) Binance Coin (BNB) has attained a unique reputation as a Tether styled coin that continues to remain stable even as the market bleeds. This behavior on behalf of Binance Coin (BNB) was also observed during the past few minor corrections. The coin is down only 33% since its all time high, compared to 70% for Bitcoin (BTC) and 85% for Ripple (XRP). This shows that smart money ...

Why Ethereum Classic (ETC) Bears Are Playing With Fire

Chart for ETCUSDShorts (1W) The whole cryptocurrency market is exploding. Bitcoin (BTC) shorts saw a 20% decline. The same goes for Ethereum (ETH) which declined more than 20%. Ripple (XRP) shorts declined around 18%. Ethereum Classic (ETC) shorts climbed 20%! What?! Even though the price of Ethereum Classic (ETC) climbed above $10 with a 8% growth, the number of shorts climbed even higher. Why is...

Bitcoin (BTC): A Method To The Madness

Bitcoin (BTC) does not just go up and down, breaks supports and resistances based on sudden whims. Most traders are so focused on the 15 min chart that they miss the big picture. They fail to realize that major trading on exchanges is done by algorithmic bots. These bots are programmed to print a certain set of patterns. Have a good look at the above daily chart for BTC/USD. This is a pattern curr...

Litecoin (LTC) Continues To See Rising Institutional Interest

Chart for LTC/USD (1W) Gemini just announced Litecoin (LTC) support. A new exchange backed by TD Ameritrade has already made clear its intention to list Litecoin (LTC). Coinbase already has it and so does Circle. During a recent survey conducted by Fundstrat, a vast majority of institutions showed enormous interest in Litecoin (LTC). A lot of people believe that Bitcoin (BTC) is already working fa...

Ripple (XRP) Remains Undeterred By Bitcoin (BTC) Uncertainty

Ripple (XRP) seems to be undeterred by Bitcoin (BTC)’s uncertain moves. It did fall yesterday like the rest of the market. However, it was very keen on reversing those losses today. The above chart for XRP/USD on the daily time frame shows Ripple (XRP) in a clear ascending channel. RSI for the above chart is also in a clear ascending channel. It appears that Ripple (XRP) has just begun its next wa...

Ethereum Classic (ETC) Can Easily End The Year Above $100

Ethereum Classic (ETC) is highly likely to trade north of $100 by end of the year. This does not require a very bullish Bitcoin (BTC). In fact, if Bitcoin (BTC) trades around $10,000, that would do the job for Ethereum Classic (ETC). Considering that we still have approximately eighty days till the end of the year, Bitcoin (BTC) might easily reach that level. These are very conservative targets fo...

Bitcoin (BTC) Bears And The Coil Spring

Bitcoin (BTC) had a steep decline yesterday. During the last hour of trading, it plunged further into the red. This marks the completion of the final wave of capitulation. Bitcoin (BTC) has now begun the day in green. However, all of this happened for a reason. First of all, BTC/USD was trading in a big rising wedge on the 4H chart. It had to break below it at some point. Most news outlets linked ...