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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
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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

Stepping off the rollercoaster: Why I’ve fallen out of love with Bitcoin

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Bitcoin
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The very word Bitcoin has almost become synonymous with that of cryptocurrency. It’s basically just a medium of conducting digital transactions – it’s a virtual currency and one of many. So how has it taken on a definition of its own and asserted itself as a leader in the digital financial ecosystem?

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The supporting case for Bitcoin has been a clear one. Its pioneering infrastructure has situated it in a position of dominance in the altcoin realm. Bitcoin has a proven usage case as a store of value. Having existed over 8 years without failure, it has a large lead over most altcoins and has withstood the test of time as younger counterparts join the market. However, it seems to be on a downward slope, or at the very least, not progressing at the speed of the market.

In May this…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

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The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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