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Bitcoin (BTC) Bulls Unlikely To Save The Price From A Fall Below $3,000

Any chance Bitcoin (BTC) had of a short term recovery is now long gone after BTC/USD just got rejected strongly off its 5 Day EMA. The price is now on its way to testing current yearly lows but chances are it will end up falling below $3,000 to find an actual bottom. At this stage, it is too early to tell if that will be the actual bottom for Bitcoin (BTC). However, it will take the price back to the previous market structure near $6,000. This means that regardless of this being the actual or temporary bottom, it is a...

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Ripple (XRP) Is On The Verge Of A Steep Decline Against Bitcoin (BTC)

Ripple (XRP) appeared to have escaped its correction against Bitcoin (BTC) for a while but that situation has changed completely in the last few days. Since the beginning of this month, Ripple (XRP) has been showing signs of weakness trading against Bitcoin (BTC). The 4H chart for XRP/BTC shows that Ripple (XRP) is now trading in a descending triangle against Bitcoin (BTC). This triangle has a strong probability of breaking to the downside. RSI for XRP/BTC is already in overbought territory and has room for further downside. The price action looks very vulnerable and as soon as XRP/BTC falls below...

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Ethereum (ETH) Eyes A Sharp Decline To $80 As Bulls Fail To Defend Price

Ethereum (ETH) is on track for a major decline this week as the bulls failed to defend the price above $90. Earlier this week, Ethereum (ETH) had entered an ascending channel which raised the hopes of buyers but it was short lived as the price broke below that channel soon as Bitcoin (BTC) started to fall. The big picture is still pretty clear and Ethereum (ETH) certainly has completed its correction for the most part. It is not very likely for the price to drop significantly from current levels but a fall to $80 seems inevitable. ETH/USD has now reached...

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Bitcoin (BTC) Yet To Reach Bottom Of Descending Channel

Bitcoin (BTC) is about to complete a yearlong correction which has put a lot of things in perspective. It is now clear that BTC/USD was trading in a descending channel the whole time. Bitcoin (BTC) tested the top of this channel for the first time in October. It kept testing it in November and then finally continued to drop back into the channel after facing a strong rejection. This rejection was significant because it pushed the price below the 21 Week EMA. Currently, the price seems to be at the bottom of this descending channel but it has yet to...

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Ethereum Classic (ETC) Unlikely To Hold Ground As Bitcoin (BTC) Falls Further

Ethereum Classic (ETC) has done a good job at holding ground as the rest of the market declined. In fact, the chart above for ETC/USD shows Ethereum Classic (ETC) in the green while the rest of the market is deep in the red. Now this might give some the false impression that Ethereum Classic (ETC) is invincible, but that is not the case. It is immutable, it is decentralized, but it is not invincible! If Bitcoin (BTC) goes down, Ethereum Classic (ETC) goes down, maybe not immediately but ultimately. If we look at the 4H chart for ETC/USD, we can...

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