📈 Pricewise Vaido Veek

The Market Is Full Of Panic, BTC, XRP, ETH Have Made New Lower Lows: Price Analysis, Oct. 11, 2018

Pricewise
Bitcoin breaks all the important support levels, Ethereum hanging above the round number, Ripple can make the biggest drop
The Market Is Full Of Panic, BTC, XRP, ETH Have Made New Lower Lows: Price Analysis, Oct. 11, 2018
Contents

*** 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 breaks all the important support levels

The image above shows that the market is full of panic, again! Bitcoin moved downwards $370 within two hours, and altcoins are obviously in the deep red confirming that move: -8 percent to -10 percent on an average. The volume was pretty high: the last time when there was that kind of volume was on Sept. 5; then BTC dropped down from $7,400 to $6,300.

The BTC price made a very strong downwards breakouts from patterns and price levels:

* Break below the curve support;

* Breakout from the “Triangle”;

* Break below the round number at $6,500 which has held us nicely through the time but currently is like a warm knife through the butter;

* Break below from strong support area at $6,460, the same story as at $6,500;

* Break below from the major counter trendline;

* The price structure has made a new lower low (LL on the chart).

So, all the important levels are cracked and the four-hour candle close confirms that move.

Currently, the price almost touched the next strong support area at $6,250 and this ‘almost’ is a bad sign because, at the moment, the bounce came from almost nowhere, and what we need now is a good and clear support level. So, despite a small bounce upwards, we think we will see another leg downwards to at least $6,000, and if it is not a bear trap, then probably even lower. What can save us from a catastrophe if it is a bear trap is the bulls — bullish market makers, not us, retail traders — being able to push the price back up today or tomorrow.

Our recommendation is to stay away from the market since it is definitely risky to invest somewhere now because the down pressure is very high and even if it is a bear trap, nobody can forecast it. Let things settle down, be cautious and remain a neutral observer.

Ethereum (ETH/USD) hanging above the round number

The market is full of panic and so is Ethereum. ETH had a more than 11 percent drop and currently, it has found a support from the crossing area which consists of ‘longer and smoother trendline’ and the round number $200.

Ethereum trades again below the short-term counter trendline. The price structure has changed, several previous higher lows are history, and we have a new lower low on the chart.

If Bitcoin starts to make another leg down, ETH is in a big trouble, and if the next support level at $193 doesn’t hold us then we go and retest the 2018 low level at $167. Before that, it does not have any significant supports to stop that price, so watch what BTC does.

RIPPLE (XRP/USD) can make a big drop

As you might know from our previous post, there was a red box which confirms bearishness if we got a candle close below that area, and so did we and after the market drop, we came down pretty heavily.

Currently, the price has stopped on the counter trendline which is pulled from the peak. It is not a confirmation since this trendline is too sharp but still. It has made a new lower low and is approaching the round number $0.4.

As we’ve mentioned earlier, the $0.4 area is quite a significant level: the round number itself has to work as a support and from the peak Ripple has dropped around 50 percent. This 50 percent is usually a good bounce level but currently, we can’t say that we get a bounce from there: probably BTC has another leg down ahead and this move may drop XRP pretty heavily to the bottom. Recently, Ripple has made highest gains, and now it can make the highest drop, so watch it and Bitcoin closely: if the latter shows move upwards from supports then XRP has a good bounce area at $0.4.

If the $0.4 level breaks then the next support would be the major down-trendline since Feb. 17, 2018, at $0.35. It is not a very strong support, definitely it could go lower,  but currently, it’s very hard to tell where the Ripple lands. So, one more time, please be cautious and stay away from the market.

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📈 Pricewise Daniel Osten

Market Down Again, No Surprises from BTC and ETH, Hard Times for LTC and XRP

Pricewise
Bears didn’t take long to recover. The market is red again with Bitcoin struggling close to support line, while Litecoin and Ripple are in trouble.
Market Down Again, No Surprises from BTC and ETH, Hard Times for LTC and XRP
Contents

Having let the young bulls feed on the cryptocurrency pastures for the weekend, on Monday the bears came out of their dens and showed the market who is (still) the boss. Two days of upward movement were corrected literally within two hours, and investors were left with deceived hopes, again. We have repeatedly warned our readers about remaining cautious - in the context of a global downtrend, any local successes may turn out to be a trap.

As a result, the market lost about $10 bln, and the total capitalization by the beginning of Tuesday is $260 bln. Bitcoin dominance is declining for the second day - this time, to 44.3 percent.

Verge emerges on the market surface again

Despite the fact that the most assets are in the red, some projects continue to push against the trend. Primarily, these are our old acquaintances Verge (with an increase of 18 percent) and Ontology (plus 14 percent).

They were joined by Golem, growing by 12 percent, Mixin, with an impressive increase of 45 percent (which looks more like a pump) and Polymath with 25 percent of growth. Coins from the top 10 are moving in harmony today: the decrease was 3 - 6 percent for all assets.

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BTC/USD

Yesterday, the bulls failed to achieve the goals that were assigned to them through technical analysis, and as a result Bitcoin could not hold on to the hard-won levels. A 10-day maximum sale volume forced the price down to $6,620, once again testing the strength of the ascending channels. One of them (formed in the middle of July 207) was easily broken, the second (from March 2017) is holding for now - and Bitcoin ended up in a trap.

BTC / USD, Bitfinex, 1 Hour Chart

  

If buyers are able to escape this trap within a few hours, then today we can expect lateral trading from current values ​​to the levels of $7000 - $7100. The price is inside the parallel descending channel again, the boundary of which creates an additional obstacle. At the same time, the chart is showing a fully formed bearish flag, the activation of which will point toward $6000, if the sellers lower the price below the yellow support line. The situation remains uncertain.

ETH/USD

Another Bitcoin drop prevented Ethereum buyers from fully activating the saucer figure. The price reached $430, which is $10 less than the goal from yesterday's review, and began the correction. The good news is that the depth of the drop was only $30, which inspires some optimism given the weakness displayed by ETH investors earlier.

ETH / USD, Bitfinex, 1 Hour Chart

The crossing ​​of the 0.236 values of two Fibonacci grids clearly indicates the key level for Ethereum, from which the most significant movements will occur - this level is $415. Transition to confident growth is possible only after the price gains a confident foothold above that. In the negative scenario, $360 is still a serious support - investors will certainly do their best to protect it.

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LTC/USD

From the point of view of both technical and fundamental analysis, Litecoin looks entirely unattractive for investment at the moment. It’s enough to look at the chart to see this.

LTC is inside a long-term descending channel and there is no hint of impending change. Not only is the price dangerously close to the critical level of support, the trading volumes fail to confirm any interest from buyers.

LTC / USD, Bitfinex, 4 Hour Chart

In addition to all the troubles, the chart shows a forming figure that distantly resembles “head and shoulders,” the activation of which takes the price to $90. We don’t expect such a dramatic development, but neither can we rule it out. At a more conservative estimate, the target for bears is the range of  $100- $105. Our recommendation to refrain from trading Litecoin is still in force.

XRP/USD

The current situation with Ripple is so similar to Litecoin that the same conclusions can be applied to both. The price of XRP is also clinging to the critical support, the chart also shows the formation of something similar to "head and shoulders," trading volumes are more than modest.

XRP / USD, Bitfinex, 4 Hour Chart

There are no hints of growth, while the targets of a possible further decline are very clear: if $0.45 does not hold, the bears will aim for the range of $0.42 - $0.4. It’s unadvisable to even think about entering long positions, until there are at least some positive signs - about which we will happily inform our readers, of course.

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Why is Ripple Suddenly Trying to Make Headlines With Madonna, Clinton and Jabs at Bitcoin?

Ripple has made some big publicity ploys recently, enticing Bill Clinton and Madonna on their side as well as taking some big swipes at Bitcoin
Why is Ripple Suddenly Trying to Make Headlines With Madonna, Clinton and Jabs at Bitcoin?
Contents

Ripple, the cryptocurrency that is focused in on being a payment system between banks, has put forward a charm offensive to try and grab some headlines recently. They have enlisted some big celebrities, entered a charity space, and also slandered Bitcoin in order to boost themselves.

One has to wonder why Ripple is suddenly coming out from under their rock having quietly gone on with their primary work for so long. Bill Clinton will be the keynote speaker at their September gathering while Madonna's Malawi charity will be receiving donations from Ripple, but the most surprising move from Ripple is their slander of Bitcoin.

Hitting the headlines

In the past few days, Ripple has made the headlines, and set Twitter alight, with a few moves that are not directly related to their primary role as a potential banking intermediary cryptocurrency.

The headlines have surely propelled Ripple in the headlines again, after going slightly undercover for a few months. However, the question needs to be asked is why they are suddenly making so much noise.

Banking on Bill Clinton

The first piece of news was the announcement that former president of the US, Bill Clinton, would be the keynote speaker at Ripple’s annual Swell conference. Clinton’s announcement seemed to achieve the goal of attracting attention to Ripple, however, a lot of that attention was in jest as Twitter reacted with jokes and memes about the former clandestine president.

However, regardless of the associations to Clinton, the former president does bring a lot of gravitas to the event and is likely to boost the profile of the conference.

Aiding Madonna

Ripple has also recently announced that it will be making more charitable donations- something it is no stranger to, having donated to public schools in the past. However, this time they are again using a celebrity link to gain a bit more media traction.

Ripple announced that for the month of August, it will match public contributions made to Raising Malawi, an NGO established by Madonna, to support vulnerable children in the small, African nation.

Again, this charitable act should not be chastised, but the association with a celebrity with the pulling power must have pre-planned to have ulterior motives.

Turning on Bitcoin

The final big move by Ripple which caught it in the headlines was when Ripple Labs’ Chief Market Strategist Cory Johnson took some hefty swipes at Bitcoin on Fox Business. Ripple has often been disassociated from the other major decentralized cryptocurrency because of Ripple Labs’ control of the currency, and it has seen them counterpunch every now and again.

CEO Brad Garlinghouse likened Bitcoin to Napster. He argued that, like Napster, Bitcoin was a bold first step that would eventually be overtaken by superior technology that solved real-world problems and engaged regulators

What is Ripple’s game?

Because of this triple offensive headline-grabbing, it is prudent to break down the different intentions of each action. Clearly, Ripple’s association with Clinton will bolster the company’s reputation, especially in their attempt to work with regulators and institutionalized systems.

The Madonna link is another step in their aim to be seen as a good corporate citizen as it is the second big gesture of charity. And to do it on the tailcoat of a celebrity of Madonna gives that news many more legs.

Finally, Ripple has been trying to prove it is a superior technology for some time now, harping on about Bitcoin being original but outdated.

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Bittrex Review 2018 - How to Use Bittrex for Beginner’s

🎓 Exchanges Guide
Bittrex is an American exchange that saw a breakthrough in 2017.
Bittrex Review 2018 - How to Use Bittrex for Beginner’s
Contents

What is Bittrex?


Bittrex is an American C2C exchange that appeared on the market in December 2014. As of July 2018, it has more than 2 million customers.

The company was poised for success from the very beginning of its existence, since Bittrex exchange was founded by Microsoft security programmers (Bill Shihara and two of his colleagues). As of now, Shihara remains the CEO of Bittrex. The founder of Bittrex explained that their main goal was to come up with brand-new software that would help to reach a high level of security and scalability. These are the main issues with the majority of today’s exchanges. They aimed at creating the fastest and the most secure platform out there. On top of that, Bittrex creators wanted to make sure that their exchange would be open and transparent enough to attract new investors.

Such a professional approach is even more impressive when you find out that the team of developers actually ran this exchange in their spare time while keeping their main job, but the sudden growth of Bittrex in 2017 turned it into an all-consuming business. Once the exchange started to accept tens of thousands of new users per and its trading volume had passed the $3 billion mark,

The Seattle-based exchange is fully compliant with the US regulations. Unlike Kraken, it is also able to operate in New York because of its BitLicense application.


Bittrex Review


Bittrex offers an insanely big amount of currencies (more than 250 altcoins including Bitcoin, Ripple and Litecoin). Basically, any ICO that you can think of is already featured there. The exchange puts a lot of effort into listing new altcoin by carefully verifying their source code. At the same time, it swiftly removes all the coins that are not active anymore. This is the case when quantity is combined with quality.

Bittrex’s chief executive made it absolutely clear what kind of tokens it lists and delists. Stability and legal compliance of the token under consideration are of paramount importance. The information about the team of developers behind the coin and its innovativeness can also sway the committee’s decision. If the coin which is already listen on the exchange doesn’t comply with basic regulations or doesn’t get proper treatment from the developers, it can be delisted in no time.


Is Bittrex Safe?


According to numerous analytical reports, Bittrex can be rightfully considered the safest exchange on the market. When it comes to dealing with government regulations, cryptocurrency exchanges frequently hit roadblocks, but Bittrex emphasizes that they want the US economy to benefit from the rapidly developing industry. The first thing that makes it a highly reputable exchange is the aforementioned complete regulatory compliance. The list of regulations includes:

  • SEC regulations. According to the SEC’s report, they have a hard time classifying different ICOs and many exchanges are still reluctant to adhere to their regulations, but this is not the case with Bittrex;

  • Anti-Money Laundering (AML);

  • BitLicense compliance which makes Bittrex available for New York customers.

There hasn’t been a single hack connected to Bittrex, but, like any big exchange service, they still had issues with their clients. Back in 2017, there was a negative Bittrex review which stated that the exchange had closed accounts without any reason. The news was swiftly picked up by the media which forced Bittrex to make an official statement about temporary suspending about 0.1% of its accounts.

So, is Bittrex safe? Without a doubt, the team of developers came up with a very secure platform. Like other exchanges, Bittrex keeps the majority of its funds (about 90%) in a cold storage. The system also makes an emphasis on how important TFA is for your account protection.


How to Use Bittrex?


Let’s find out how to use Bittrex in the following guide.

  1. Before you start using Bittrex, you obviously have to go through the registration process. You have to fill out your e-mail and come up with a unique password.

     

    log_in

     

  2. After verifying your account, you have to log in to open the home page that features most recent fluctuations for all available markets (BTC, ETH, USDT, TUSD).

    home page


     

  3. Go to the ‘Setting’ section to manage your account. Here, you can also go through the verification process to increase your daily withdrawal limit.
    NB! All required fields (your address, date of birth, etc.) should be filled out with Latin characters.


     

  4. If you go to the ‘Support’ (bottom left corner), you can see a very convenient FAQ section where you can literally type in any search request. The list of frequently asked questions, most recent news and coin information are situated below. Those who still aren’t able find the desired information can submit a request in the top left corner of the page.

    support


     

 

Bittrex Payment Methods


Those who are interested how to buy on Bittrex have to deposit funds to their account first. The majority of exchanges find it hard to reel in more customers since it is still difficult to purchase cryptocurrency with fiat money. Sure, there are exchanges like Coinbase that allow its customers to conduct instantaneous fiat-to-crypto transactions, but the number of available currencies is strictly limited to the biggest names on the market. If you want to buy any of new altcoins, you have to buy Bitcoin on one exchange and then deposit it to another exchange that supports your desired currency.

Bittrex announced that it would start accepting US dollars in May 2018. The company got the green light from some major US banks that usually have tepid relationships with cryptocurrency exchanges due to the lack of financial regulations. However, the Seattle-based exchange also has an issue with a short amount of available trading pairs. As of now, only the top digital currencies on the platform (including Bitcoin) can be traded against the US dollar, but Bittrex promises to add new USD trading pairs in the nearest future. So, if you want to buy any altcoin, you still have to send BTC from another exchange to Bittrex.


How to Buy on Bittrex?


Once your funds have been deposited, go to the ‘Markets’ section in order to choose a trading pair or manually search for the coin that you want to buy.
 

markets



Click on the ticker of the chosen currency and you will see a candlestick chart.
 

candelstick


Scroll down the page to place a new order.

new order


 



How to Trade on Bittrex?


Bittrex is a perfect platform for trading. However, the exchange is not really beginner-friendly, since it prefers high-profile traders and investors over average users. The bottom line is that Bittrex is probably not the place for you if you are not skilled enough to know how to trade on Bittrex. Advanced traders are more than welcome to join Bittrex considering that it has such major advantages as a large amount of currencies, high liquidity and effective trading tools.

Before you start trading, you have to adjust your API keys settings (switch the first three toggle buttons on). Now simply go to the ‘Market’ section in order to make a bid. You can go with a limited type or choose a conditional type of order when you can specify the price at which the order goes into effect. Basically, that means that the transaction will not take place until your condition is met. That’s how you use a stop loss to protect your investments.


Bittrex Fees


Maintaining a stable, fast and secure exchange is a bit pricey which explains relatively high Bittrex fees. Both buyers and sellers pay a 0.25% commission. They do not have any loyalty programs or other forms of incentives, so every member is charged with the same fee.


Bittrex Withdrawal Fees


At the same time, Bittrex withdrawal fees are pretty competitive, but they are still higher than on other major exchanges. Sure, these fees are unpleasant, but the company has to earn profit in order to stay in business. Remember that keeping your funds on exchange is not advisable (not matter how safe and reputable it is), so always withdraw your funds to a cold wallet.

The amount of the fee depends on the coin of your choice.

Bitcoin

~$3.3

Ethereum

~$2.8

Litecoin

~$0.8

TRON

~$0.04

Monero

~$5.3


NB! There are plenty of cheap altcoins (UTC, DTC, XCO) that are completely free to withdraw.

Speaking of withdrawal fees, it is worth mentioning that Bittrex also has withdrawal limits that depend on your verification level. Your daily withdrawal limit is fixed at 0.4 BTC by default, but you can increase it up to 100 BTC per day by enabling 2FA and providing your ID.

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📈 Pricewise Vaido Veek

Bitcoin- Seven Failed Attempts, LTC is on the Important Area, TRX Approaching Key Level: Crypto Price Analysis Update, Sept. 12, 2018

Pricewise
Bitcoin has seven failed attempts, LTC is on the important area, TRX approaching the key level
Bitcoin- Seven Failed Attempts, LTC is on the Important Area, TRX Approaching Key Level: Crypto Price Analysis Update, Sept. 12, 2018
Contents

*** 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 has seven failed attempts

Now we have been in this consolidation phase a little bit over six days. Currently, BTC price has drawn us a "Triangle" pattern and we have a down channel where the price moves downwards.

Bitcoin

Yesterday we got a small sign that the price may come down and test the lower levels. It made a breakout from the triangle downwards which is a bearish sign, but currently, on the four-hour chart, we could see that there is a very strong level- $6,250.

BTC price has tried to break this seven times but all those attempts were unsuccessful and it bounced back above the mentioned level. So, basically, we have a sign that we may go downwards from triangle breakout, now, if we get a close below the $6,250 this could mean that there is a very high probability to go test the lower levels. If we start to drop then the first support is $6,000 where we want to watch what the price action does but we think it will go much lower than $6,000 but let's see and let’s take this step-by-step.

If we start to go higher then you already know our resistances from yesterday’s post.

Litecoin (LTC/USD) is on the important area

If some alts are approaching the 2018 low point then Litecoin is almost there. Currently, LTC price is on the very important support area- $50 which starts to work as a support and the 2018 low which was made on Aug. 14.

Litecoin (LTC/USD)

If we don't find that power to hold the price above $50 then bearish confirmation would be a four-hour candle close below the 2018 low (red box).

A break below the 2018 low could mean bad news for LTC because there are exactly zero recent supports until the next round number area of $40. There are also two different trendlines pulled from different wicks and lows (let's call those trendlines the minor trendlines) and they make a cross on the $40 level + there is also some Fibonacci extension areas. So, this means the next support area and a pretty significant one is around $40.

To trade between the $50 and $40 level is pointless and very risky. Because technically there is almost nothing remarkable. Wait for $40 or if the price doesn't reach into this are then wait for our technical analysis, we will try to keep you posted.

Tron (TRX/USD) is approaching the key area

If we take a look at Tron’s four-hour chart then it has dropped below the round number $0.02 and below the strong support which was around $0.0188 and looks like there is room to go even lower.

Tron (TRX/USD)

TRX possible next targets/supports are the 2018 low which occurred on Aug. 14. In this price level, we have to watch what BTC does, if it also finds the support, from let's say from $6,000, then it would be good for Tron also since those distances are almost the same.

Around the 2018 low, we have a round number of $0.015 which could start to support the price.

If TRX price doesn't catch the momentum from the mentioned level then we might go and touch the minor trendline which is pulled from the June 13 wick and we may go as low as $0.011-$0.013.

So, currently investing in Tron is not recommended because there is room to go lower and the market is on the selling pressure.

Hopefully, those levels and this analysis helped you out a little bit to confirm your own analysis.

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