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Bitcoin (BTC) Bitcoin Cash (BCH) Ethereum (ETH) Litecoin (LTC) Price Analysis – Where To From Here? Get Ready!

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Bitcoin Price

Since printing another leg lower last Friday (6/22) on large volume as well as moving into our previously noted potential support zones, the entire cryptocurrency sphere has been trading in a side-ways grind over the past five sessions with many beginning to form potential inverted Flag formations, yet again.

If this scenario appears familiar, it is, because we’ve recently seen this movie before as we witnessed similar action on June 10th, whereby we experienced a large move lower on meaningful (large) volume followed by some side-ways grind before resuming the primary trend, which remains lower.

As we can observe from the daily charts below, BTC; BCH; ETH as well as LTC all continue to trade below their 20; 50 and 200-day moving averages with little to zero indications/evidence of turning the tide thus far, which continues to suggest a poor technical posture and unfavorable conditions.

BITCOIN

BITCOIN CASH

ETHEREUM

LITECOIN

As we can observe from the daily time-frame above, Bitcoin; Bitcoin Cash; Ethereum and Litecoin remain in their prolonged downtrend and continue to display poor technical characteristics.

While we may experience and attempt some upside movement in the days ahead and perhaps flirt with the declining 20DMA (yellow line), we suspect that much like a few weeks ago (6/10-6/21), such move, should it materialize, would most likely be rebuffed before another leg lower ensues.

Thus, where do we go from here?

While the daily time-frames continue to portray potential for lower levels, not everything is bleak.

When zooming-out to both the Weekly and perhaps more specifically, the Monthly time-frame/s, we’re nearing an important inflection point from which we suspect that the bleed lower subsides/pauses and in turn, results in a massive counter-trend rally that may begin as early as the next 2-3 weeks.

Nonetheless, we’ll cross that bridge when we arrive and in the meantime, continue to keep readers of Global Coin Report apprised of the technical landscape and what may be in store ahead.

The following levels may be utilized as guides as well as providing evidence/clues with respect to the short-term direction moving forward.

BTC – Potential resistance resides at R1 6300; R2 6425; R3 6850-6900, while potential support can be found at S1 5700 (minor); S2 5400; S3 4900-5000 Zone.

BCH – Potential resistance resides at R1 780; R2  800-825; R3 860-875, while potential support can be found at S1 700-750 and S2 600-650 Zone.

ETH – Potential resistance resides at R1 475-500; R2 525-550; R3 575-600, while potential support can be found at S1 420-440 and S2 350-400 Zone.

LTC – Potential resistance resides at R1 85; R2 92; R3 95-100, while potential support can be found at S1 70-73 and S2 50-55 Zone.

Once again, while we suspect another leg lower to ensue, positive developments await nearby, as we also believe that we’re rapidly approaching levels as well as Time, where both investors/traders are about to witness a rapid/sharp/vicious counter-trend rally that may catch many off guard/balance and travel to levels far beyond what many may anticipate and or comprehend.

Thus, be prepared and ready as we believe it’s only a matter of weeks now before the sea of red subsides and the landscape is littered with green once again.

Happy Trading!!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Anastos Kol via Flickr

Charts courtesy of tradingview.com

Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

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Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

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Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

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Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

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Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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