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Bitcoin (BTC) Bottom May Not Be In But Bearish Resolve Damaged Beyond Repair

Bitcoin (BTC) does not seem to have bottomed yet. The price has just run into a trend line resistance and is expected to fall significantly in the days ahead. There may be some room for growth after an initial retracement but for now traders should lookout for a pull back before entering any long positions. Shorting BTC/USD at current levels is certainly not a good idea now that the bearish resolve has been damaged beyond repair. We will discuss in this analysis what that really means but first let us look at what Bitcoin (BTC) is really up to. The...

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Bitcoin (BTC) Finally Climbs Past 50 Day MA To Resume Rally Towards $4,500

Bitcoin (BTC) has finally climbed past the 50 day moving average. Yesterday when Ethereum (ETH) was trading well above the 50 day moving average but BTC/USD faced a strong rejection at the 50 day MA, investors were worried as to what is Bitcoin (BTC) really up to. However, as many expected Ethereum (ETH) showed Bitcoin (BTC) the way and the price closed below the 50 day moving average after all. The price has now started a new day in the green and is trading around $3,800 eyeing a rally towards $4,500 which coincides with the 38.2% Fibonacci retracement level. The...

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Ripple (XRP) Breaks Above 21 Day EMA But Demonstrates A Loss Of Momentum

Ripple (XRP) has finally broken above its 21 day exponential moving average but the momentum that we see is a lot different than what we used to see in XRP/USD. During every market recovery, Ripple (XRP) used to be one of the high achieving coins. That does not seem to be the case anymore as we have seen a clear loss in bullish momentum following the JPM coin announcement. This is very alarming to see when a lot of big banks across the globe are beginning to use Ripple’s xRapid service. The effect of those positive developments seems to have...

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Ethereum Classic (ETC) Breaks Past Critical Resistance, Continues To Rally

Ethereum Classic (ETC) has shown a serious rise in interest especially during the bear market. While cryptocurrencies like Stellar (XLM) and Ripple (XRP) have seen a loss of interest over the past few weeks, ETC/USD has seen more money flow into it as development activity on the Ethereum Classic blockchain proceeds with rapid pace. In the past 48 hours, Ethereum Classic (ETC) has climbed past the 21 Day EMA and is now close to testing the 50 Day MA. Soon as it climbs past the 50 Day MA, it will be clear to shoot towards the 200 Day MA. As...

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Bitcoin (BTC) Breakout Attempt Fails Again But Something Big Is In The Offing

The last few weeks have been incredibly confusing for Bitcoin (BTC) traders and investors. The price has failed to make a decisive move to either side. The 4H chart for BTC/USD shows that the bull flag that the price has been trading in since the beginning of the month seems to be going nowhere. The price attempted to break above it in the past 24 hours but it failed miserably and was dragged back inside the flag. After the bullish moving average cross over on the 4H chart, it was expected that Bitcoin (BTC) would break decisively to the upside....

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