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Bitcoin (BTC)’s Next Decline Likely To Begin Before Month’s End

Bitcoin (BTC) is attempting to break the biggest resistance zone that stands between it and its next bull run. The irony is that majority of the traders that expected this level to hold as support and to never break are now expecting it to be broken in one go as the price is ready to test it as resistance. This speaks volumes about the stage we are currently at. It shows that the market has yet to inflict maximum pain and that we are definitely due for further downside before any trend reversal occurs. Let’s face it, if BTC/USD were...

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Sally Ho's Technical Analysis 7 May 2019

Bitcoin Bitcoin (BTC/USD) found some buying pressure early in today’s Asian session as the pair moved back to the 5750.00 level after declining to the 5651.00 area during yesterday’s North American session. Earlier in the North American session, the pair got as high as the 5753.66 level before spinning lower, a level that is right around the 23.6% retracement of the 5520.00 – 5831.39 range. Notably, BTC/USD was supported above the 5650.01 area during the brief pullback, previously a relative high dating to 23 April 2019. A move back above recent highs will spotlight the 5808.45 area, representing the 50%...

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Ripple (XRP) Seeks Direction As Price Remains Below 50 Day Moving Average

Ripple (XRP) has shown extreme weakness these past few months as the price has had a very hard time staying above the 50 day moving average. The daily chart for XRP/USD shows that the price of Ripple (XRP) fell below the large symmetrical triangle. However, it ended up climbing back above the trend line support turned resistance and is now once again eyeing a break out to the upside. RSI on the daily time frame shows that XRP/USD might be able to test the top of the symmetrical triangle but the stochastic indicator shows that it might not be easy...

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Ethereum (ETH) Still Has Room To Rise Again Before The Next Big Decline

Ethereum is on the move today as price is up more than 2% against Bitcoin (BTC). The daily chart for ETH/BTC shows that Ethereum (ETH) is aiming to retest the trend line support turned resistance as price has now neared oversold territory against Bitcoin (BTC). It is likely that we may see altcoins rally short term as BTC/USD trades sideways with no direction. Most altcoins are likely to test the previous broken trend line support as resistance but they are unlikely to break past it and will most probably begin their next downtrend soon as they visit the trend line...

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Bitcoin (BTC) Shows Extreme Weakness As Price Declines Below $5,800

Bitcoin (BTC) has retraced strongly below the $5,800 level and is currently trading just above $5,600. This move comes after BTC/USD took a swing to the downside when it ran into a confluence of resistances. The price faced a strong rejection at a trend line resistance and the $5,800 resistance level and it decline aggressively. RSI on the daily chart shows the bearish divergence. Stochastic indicator also points to the likelihood of a major move to the downside. It is pertinent to note that BTC/USD is trading within a large rising wedge that could break to the downside anytime now....

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