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Ethereum Classic (ETC) Nosedives After Running Into Trend Line Resistance

Ethereum Classic (ETC) has nosedived after running into a strong trend line resistance. The price is now expected to fall down to the 50 day moving average if not lower. We might see some consolidation short term before a possible move to the upside. That being said, this whole setup is increasingly appearing to be more bearish than ever. If the price ends up falling below the 21 day exponential moving average, it will have a hard time going up. We believe that the price is likely to remain above the 50 day moving average for now and continue to...

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Bitcoin (BTC) Loses Bullish Momentum, Price Eyes A Decline Towards 50 Day MA

Bitcoin (BTC) made its third attempt to breakout today and failed miserably as shown by the daily chart for BTC/USD. This rejection was a lot stronger than the one that preceded it. However, the way the price faced rejection when it tested the trend line resistance a few days back was enough to conclude that this rally did not have the momentum to continue before a retracement. We still believe that BTC/USD might make one last move to the upside before the imminent correction that would see the price fall to a new low in 2019. Bitmex CEO, Arthur Hayes...

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Ripple (XRP) Breaks Trend Line Support, Very Likely To Form A Death Cross

Ripple (XRP) is about to do something that the rest of the market might take a while to do. That something is the formation of a devastating death cross that could see it decline to new lows in 2019. All hopes of a bullish reversal were shattered when Ripple (XRP) formed a gravestone doji a few days back which led to a sharp decline below the 50 day moving average as shown by the daily chart for XRP/BTC. Ripple (XRP) is at a higher risk of forming a death cross compared to most cryptocurrencies as the 200 day and 50...

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Ethereum (ETH) Could Still Determine The Direction Of Cryptocurrency Market

Ethereum (ETH) could still determine the direction of the cryptocurrency market and for good reason. This is because ETH/USD now has a lead on Bitcoin (BTC) and it can pretty much call the shots if it wants to. We saw this happen the past few days when both BTC/USD and ETH/USD went the opposite ways. Bitcoin (BTC) closed below the 50 day moving average whereas Ethereum (ETH) closed above it. Now, investors were left confused as to which one to trust. Historically, it has been Bitcoin (BTC) that has been dominant for the most part and the market sways towards...

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Ripple (XRP) Just Formed A Gravestone Doji Trading Against Bitcoin (BTC)

Just when we thought things could not get any worse with Ripple (XRP), we have seen XRP/BTC form a gravestone doji on the daily chart. The gravestone doji is a strong bearish reversal pattern that often leads to significant further downside. This doji was formed when the price ran into the 50 day moving average but faced a strong rejection and was forced to decline below the 21 day exponential moving average. So, what does all this mean for Ripple (XRP)? It means that the professional traders and retail traders are not on the same page here. The excitement that...

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