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Bitcoin (BTC) Ethereum (ETH) Price Analysis: Judgment Day

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Ethereum

As the reader will likely be no doubt aware, the broad cryptocurrency complex has been up and down the hill and valley characterizing a potential bottom or a potential bear market bounce of dubious meaning over the past month.

Now, we have come to a critical moment of judgment.

Today, we will take a close look at the charts for Bitcoin (BTC) and Ethereum (ETH), gauging their relative position in the course of this adventure from the standpoint of an objective technical analyst. Our goal, as always, is to provide an unbiased and empirical analytic edge to augment your perspective.

Bitcoin (BTC)

Price Analysis

  • High: $7143.6
  • Low: $6938.9
  • 24-Hour Volume: $3.71B
  • 7-day Percent Change: -12.5%

Chart courtesy of tradingview.com

Bitcoin (BTC) has no doubt been the leader for the large market cap coins during the past month of significantly more promising action for those with exposure to that space.

However, over the weekend, we saw a clear dive to shake out the weak hands involved in the bounce, and trigger some very important tests of support. Chief among these tests, we currently see a very live and very current battle for the crucial 50-day simple moving average.

At this point, while support has been holding – and support that includes the $7000 level – we’re hardly out of the woods yet.

First off, the hourly MACD is already rising above the bullish inflection threshold with a histogram reading in “full bull mode”. However, this is a divergence, as Bitcoin (BTC) has barely bounced at all. Generally speaking, this is a bit of a warning sign, though not a conclusive one. In fact, we would prefer to see a bounce like this still registering somewhat oversold levels on oscillators.

In other words, the oscillators can function as something like a turbo boost for the bounce. However, with the bounce just in its infancy, we already have that turbo boost engaged. It would be better if that boost were still in the chart’s “pocket”, as it were.

The first important test on the upside will be at the $7250 level, which could come up on us pretty quickly.

Ethereum (ETH)

Price Analysis

  • High: $413.4
  • Low: $406.09
  • 24-Hour Volume: $1.38B
  • 7-day Percent Change: -10.89%

Chart courtesy of tradingview.com

As we noted in our recent analysis, Ethereum (ETH) has been sharply underperforming many of the other large market cap coins in recent action, at least relative to its positioning on the charts in late June.

In fact, Ethereum (ETH) is already undercutting the June lows, despite Bitcoin (BTC) remaining well above those same relative levels on the charts.

Classically, for the space as a whole, we would far prefer to see the leading edge technology solution – and frankly we see that as Ethereum (ETH) rather than Bitcoin (BTC) – leading the way over the course of the bounce that longs certainly hope represents a more important bullish inflection in the overall cyclical ebb and flow on the charts.

At this point, Ethereum (ETH) is finding strong support at the $400 level, and it could be interesting from an oscillator standpoint. First off, if we were to move higher from here, we would have in place a clear and almost striking bullish divergence where the 14-day RSI measure is concerned.

In addition, as the bounce is progressing, we are seeing not only an affirmation of support levels but a strong bullish signal from the hourly MACD indicator as well. This one will bear close watching.

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 Pexels

Charts courtesy of tradingview.com

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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