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📈 Price Predictions
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BTC Shook Off Buy and Sell Orders & ETH is Between the Strong Areas: Crypto Price Analysis, Sept. 20, 2018

  • Vaido Veek
    📈 Price Predictions

    Bitcoin made a massive shake off and Ethereum has to fight with heavy intersection area

BTC Shook Off Buy and Sell Orders & ETH is Between the Strong Areas: Crypto Price Analysis, Sept. 20, 2018
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin possible confirmation areas

Last night Bitcoin made very strong and sick moves. The big guys shook off some buy and sell orders and hopefully, now they are satisfied. Like you see on the four-hour chart, one candle range is almost $500, recently this is the biggest shake off that we have seen but let's try to break down the price action and possible confirmations areas.

Bitcoin

Currently, we trade on the triangle (black trendlines), the massive candle was below the triangle and it was above the triangle but the close was inside. Actually, this move was pretty good for the technical perspective that this could mean that probably we don't see those fake moves in the near future and technical analysis confirmation areas would be higher accuracy.

At the moment, on the four-hour chart, the price is 'sitting' on the Fibonacci retracement level at 62 percent and below the 50 EMA. Also, all our earlier mentioned level above the current price starts to work as a resistance:

  • April low at $6,425
  • Strong Resistance at $6,460
  • Round number $6,500
  • March low at $6,533

If we want to see another leg upwards then firstly, the biggest confirmation would be the upwards breakout from the triangle upper trendline. This is definitely hard to beat because this trendline makes a cross from those resistance levels and also, there is a 100 EMA which starts to work as a resistance but let's watch what we can get from the current levels and we have to take this step-by-step, confirmation after confirmation.

To confirm bearishness then a candle close below the $6,235 will confirm a movement downwards. If we get a candle close around $6,200 then we have a breakout from the triangle and break below the strong support levels.

To make the trades inside the triangle is very risky because we never know when they start to fool us.  Be cautious!

Ethereum between the strong areas & ready to make a breakout

Currently, Ethereum trades between the round number $200 and between the two trendlines:

  1. The longer & smoother since Jan. 4th and 2nd touch Aug. 14.
    Sept. 5th Ethereum breaks below this trendline, which had to work as a support, but now when we are below the mentioned trendline it works as a resistance. It has five to six attempts to break back above this trendline but those are failed and we can say that this trendline is pretty significant confirmation if we want to see bullish Ethereum.
  2. The trendline since July 29 which is pulled from bodies.

Lately, there has been just one attempt to break through but this attempt was exactly on the trendlines crossing area and those crossing areas are extremely strong.

Ethereum (ETH)

Let's count the resistances that we have to take down before we can say that ETH is on the bullish trend and those resistances are pretty heavy to beat:

  1. The mentioned longer and smoother trendline: as you know we have several failed attempts to break back above the current trendline.
  2. The trendline since July 29.
  3. The strong area (blue line) which has worked historically as a good support level and as a good resistance level. Several attempts to either direction and if it breaks or touched it Ethereum has bounced every time. So, we can assume, if ETH can take down this level at $225 we could see another leg upwards
  4. Different timeframes EMA's

The targets after the breakout:

  • Semi-round number $250- this area matching also with the August low point and also we can see that the perfect Fibonacci retracement level 62 percent is in this area.
  • Around $280- the second strong area on the chart which has historically worked very well!
  • Sept. high around $300

To give you a short-term bearish confirmation, there could be a four-hour candle close below the orange zone around the $190 (higher one). The close below the mentioned area confirms that we have a break below the round number ($200) and we have to make a short-term lower low. This will guide us to the 2018 low point at $167 which is made on the Sept. 12. It should start to work as a good support level but if it breaks then the next 'hope' comes from the blue trendline around $150 but let's see what the price action start to show us and especially what the market starts to show.

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About the author

Vaido Veek hopes to become a leading voice in technical analysis by educating people about how the perfect TA  should look like. He has over 5 years of charting experience and loves to solve the patterns that   they show us. His slogan is "keep it simple"!

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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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