Skip to content Skip to sidebar Skip to footer


  • The total crypto market cap is now placed nicely above the $190.0B support area.
  • Bitcoin price is holding the $7,300 and $7,400 support levels.
  • EOS price is currently consolidating above the $2.600 level and it could rise towards the $2.85 level.
  • Binance Coin (BNB) is struggling to gain momentum above the $16.00 and $16.20 resistance levels.
  • BCH price is currently consolidating near the $220 pivot level.
  • Tron (TRX) price is facing a strong resistance near the $0.0160 and $0.0162 levels.

The crypto market cap and bitcoin (BTC) are showing positive signs. Ethereum (ETH), binance coin (BNB), ripple, BCH, tron (TRX), litecoin and EOS are likely to target more upsides.

Bitcoin Cash Price Analysis

After forming a support base, bitcoin cash price climbed above the $210 resistance area against the US Dollar. The BCH/USD pair tested the $225 resistance area and it is currently consolidating near the $220 pivot level.

If there is an upside break above the $225 resistance area, there are chances of a run towards the $240 and $245 levels. On the downside, there are many supports, starting with the $210 level and up to the $200 handle.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price gained bullish momentum above the $2.500 resistance area. The price even broke the $2.600 level and tested the $2.700 resistance area. It is currently consolidating above the $2.600 level and it could rise towards the $2.85 level. On the downside, the main supports are near the $2.550 and $2.500 levels.

Tron price made a nice upward move above the $0.0155 resistance level. However, TRX price is facing a strong resistance near the $0.0160 and $0.0162 levels. A clear break above the $0.0162 level could set the pace for more upsides towards the $0.0165 and $0.0168 levels.

Binance coin (BNB) is holding the $15.20 and $15.50 support levels. Still, it is struggling to gain momentum above the $16.00 and $16.20 resistance levels. If there is an upside break above the $16.20 resistance area, there are chances of a decent rise towards the $16.80 and $17.00 levels.

Crypto Market Cap Bitcoin

Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a slow and steady rise above the $188.0B and $190.0B resistance levels. The crypto market cap seems to be following an ascending channel with support near the $190.0B level. On the upside, a break above the $200.0B resistance could set the pace for a move towards $220.0B.

Therefore, there are chances of another increase in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.

Aayush Jindal , 2019-11-29 07:30:44

Source link

Leave a comment

NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

Source link