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XRP Bitcoin Cash (BCH) Price Analysis – Some New and Interesting Signals

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XRP
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For technical analysts, especially those that one might call “purists”, the process of evaluating the market does not even include recognition of what that market is. A market is a market – it’s an emotional crowd of people.

Hence, the goal is to factor out that which is consistent across time and across assets: people are people. We do in fact see recurring patterns of behavior exhibited in markets time and time again. And that’s the very value at the heart of technical analysis. For traders heavily involved in the cryptocurrency complex, this tool may be more valuable than ever at this point. Volatility is high, emotion is high, and market efficiency is low. That’s almost the very definition of opportunity in trading.

Today, we take a closer look at XRP and Bitcoin Cash (BCH) once again in search of clues creeping into the action that may give us a sense of edge in predicting what these charts may look like around the next corner.

XRP

Price Analysis:

  • High: $0.46190
  • Low: $0.44799
  • Major Resistance Level: $0.50
  • Hourly MACD: Emerging Upside Momentum Potential

Chart courtesy of tradingview.com

In XRP, we are beginning to see some interesting new signals. First off, it would appear as though key support held over the prior weekend action at the $0.42 level, which was followed by a key technical breakout to the upside.

This is an encouraging sign provided it continues to hold as the action moves forward.

As we have noted with this coin, the real breakout level that could define a new wave higher would be a move back above the $0.50 level. Such a move was attempted and resulted in a technical failure early on in July and again last week.

The tail left by those bars on the chart now represent the trigger point for a potential major chasing bid should the coin move above that level as we progress through the end of the month.

At this point, bulls in XRP will have to hang their hat on the fact that this coin did manage to hold its key support level when under pressure, further defining the possibility that the $0.42 level represents a key accumulation level where deeper-pocketed players are consistently getting involved.

Bitcoin Cash (BCH)

Price Analysis:

  • High: $833.20
  • Low: $781.20
  • Major Resistance Level: $875
  • Hourly MACD: Emerging Upside Momentum

Chart courtesy of tradingview.com

The action in Bitcoin Cash (BCH) has been relatively encouraging over recent days. The coin has managed to form at least the potential for a higher low relative to its late June dive down to near test the $600 level.

The concept of a higher low being put in place relative to that late June level is extraordinarily important. A move back up to the $800 level has constituted a decisive bullish break of the downward trend line that has defined this coin since its all-time highs logged back in December 2017. You can see this line shown in red in the image above.

If we get this pairing on a sustained basis – a higher low, a break of a downtrend line, and a move that comes in context defined by an extreme oversold state in the 14-day RSI logged back in late June – this would have the makings of a possible inflection point on the chart that could be more important than any that we have seen in a while.

This is by no means a guarantee, but it does represent a signal potentially worth acting upon with defined risk in Bitcoin Cash (BCH).

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.

Charts courtesy of tradingview.com

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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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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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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