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TRX/BTC and XRP/BTC Price Analysis: What Demoralization Looks Like on a Chart

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XRP/BTC
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It turns out that nothing really demonstrates the underlying character of the action we have seen over the past month in the cryptocurrency complex like the charts of some of the more volatile large market cap pairings.

For example, we’re going to take a look at the charts for TRX/BTC and XRP/BTC below, which feature some powerful trends that exemplify the importance of Bitcoin as an island in a sea of volatility.

TRX/BTC

Price Analysis

  • High: 0.00000325
  • Low: 0.00000301
  • 24-Hour Volume: 3.996M
  • MACD Signal: Sell

The TRX/BTC pairing features an extraordinarily consistent downward trend on the chart since late April.

The action has been steady and consistent and suggests a gradual liquidation from secondary to primary in this paired relationship, as one might expect during a flight to safety period for accounts denominated primarily in Bitcoin.

That said, by the same token, one might see this TRX/BTC pairing as a potential indicator of sentiment among more serious crypto traders. In other words, TRX/BTC is where we might see the most important inflection when the animal spirits begin to rise again in the cryptocurrency space.

That said, at this point, the TRX/BTC pair remains in a downtrend mode, trading beneath all its major moving averages with major oscillators camped out in deeply oversold territory.

XRP/BTC

Price Analysis

  • High: 0.00004753
  • Low: 0.00004413
  • 24-Hour Volume: 3.449M
  • MACD Signal: Sell

XRP/BTC has been a relatively uninteresting pair since the extraordinary spike we saw to close out 2017. For the most part, this pair has been in a gradual bearish slide that has only recently begun to accelerate as XRP has fallen off the end of a table against just about everything.

One interesting technical signal we see at present on the XRP/BTC chart is a potential bullish divergence on the 14-day RSI, with the print over the last 48 hours reaching a pivot low around the 20 level, which compares with the print under 13 at the pivot low formed in late July.

Since that late July low was at a much higher level on the XRP/BTC chart, the much lower score on the 14-day RSI is a potentially bullish signal of a loss of downward momentum underneath the surface of this chart.

This is certainly something to watch out for given the explosive nature of this pair when momentum comes back in and animal spirits are engaged.

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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin
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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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altcoins
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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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