Bitcoin Trading: Steady Bitcoin Pumps a Slight Recovery in Top 20 Altcoins


Bitcoin (BTC) Price Analysis – April 30

The recent steady movement in Bitcoin price was as a result of low volatility in the course of the last five days of trading which had tightened trading between the range of $5100 and $5300. However, a surge in volatility is expected to determine the next ultimate direction of the giant crypto.


BTC/USD Long-term Trend: Bullish (1D chart)
Key Levels:
Resistance levels: $5600, $6000
Support levels: $4800, $4500

From the long-term perspective, we had seen how Bitcoin managed to crawl above the green trend-line before the notable spike in early April which has floated price above the $5000 level. After the sudden price increase, BTC has flagged up with steady movement in the channel.

Last Thursday, Bitcoin dropped to $5000 from the $5600 high level. Since then, the market has been trading below $5400 till this moment with choppy price action. While indecisive, we may experience another surge in volatility which could take Bitcoin to the next phase.

The RSI is currently indecisive. A downward direction may lead to a bearish breakout. Below the channel lies a tight range between $4800 and $4500. The 4-hours Stochastic RSI suggested BTC to be bearish.


BTC/USD Medium -term Trend: Bullish (4H Chart)

After the April 2 sudden price surge, Bitcoin has remained in the ascending channel. Though, nothing much has changed since the leading cryptocurrency poised $5600, the current resistance. For the past five days now, Bitcoin’s volatility has been relatively low. As a result of this, the market appeared indecisive with choppy price action.

Sitting on the lower trend line, below the channel lies $4900 and $4700 support. On the upside, the market may retest $5500 and $5600 resistance levels, where the upper trend line lies. Above this channel, Bitcoin could create a new high around $5800 and $6000 levels.

The 4-hours RSI is rising above the 40 level. A further incline may project BTC price at $5500. Significantly, the 4-hours Stochastic RSI lies close to the overbought territory.


Please note: insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.


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Cryptoglobe:
XRP trading: Still Bearish, Ripple May Bounce Up After Testing a Close Support

Ripple (XRP) Price Analysis – April 16

Regardless of the current green market, XRPUSD bearish sentiment moves in a descending channel with a slow price action towards close support. XRPBTC, on the other hand, has further fallen in a new direction. Still, XRP market is falling.

XRP/USD Market
Key Levels:
Resistance levels: $0.35, $0.37, $0.39
Support levels: $0.30, $0.28, $0.26

Looking at the medium-term chart, Ripple appeared bearish as price trades within a descending channel in since early April. While sitting at the lower channel, XRPUSD market has been consolidating for the past five days as a swing high is expected at $0.35 resistance level. A further push above the mentioned resistance may resume XRP on a bullish trend.

Meanwhile, a possible swing low could plummet price to $0.3 support and beyond. Evidently, the trend lines are still a defensive line for the bulls and the bears.

Viewing the 4-hours RSI, a gradual buying momentum is compounding as it points upward. More importantly, the 4-hours Stochastic RSI pressure nears overbought territory. A slight drop is likely once the indicator reaches the overbought zone.
Nevertheless, XRPUSD market is still respecting a descending channel pattern.

XRP/BTC Market
Ripple, as a hedge, is on a downtrend trend. The massive sell-off in early April has led the sellers to more significant downward movement as price faces 6000 SAT low.The coin’s value is dramatically depreciating as a new low is yet to be established. The bearish scenario is now revealed to be strong; following a new purple line.

Since the drop, the 4-hours RSI has positioned trading below the 50 level; currently swinging on the oversold line. A clear breach above the purple trend line could fly price to 6600 SAT resistance and above.

The current 4-hours Stochastic RSI faces the oversold zone; showing an ongoing selling pressure. A long position may switch the Oscillator on an upside trend. At the moment, the sellers are gaining control of the market.


Please note: insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.


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Best cryptos exchanges: https://insidebitcoins.com/cryptocurrency-exchanges

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Cryptoglobe:
Weekly trading signals for major cryptos - JANUARY 8TH


Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)


BTC/USD

Dominant trend: Ranging

Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000

BTC/USD continues in a range-bound market in the long-term outlook. The new year rally was shortlived as the bears stage a return as the price drops below the 10EMA. BTC/USD dropped to $3850 in the demand area on 4th January closing a bullish spinning top and an indication of bulls gradual return.

The new trading week started on a bullish note with an engulfing candle as BTC/USD rose to $4218 in the supply area on 6th January. With the stochastic oscillator signal pointing up at 51% and price above the 10-EMA, the bulls may sustain the momentum within the rage in days ahead.
BTC/USD is in consolidation and trading between $4370 in the upper supply area and at $3470 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.


ETH/USD

Dominant trend: Bullish

Supply zones: $250, $300, $350
Demand zones: $50, $30, $10

The bullish exhaustion denoted by wicks on the candle at the $165.00 are signals that the bears are in for a minor retracement despite a bullish overall outlook.

The bullish spinning top that opens the trading week on 5th January after pushing ETH/USD to $165.86 in the supply area failed to sustain the bullish momentum as the bears took over the market.

The bearish momentum may increase leading to a further drop in the price of the cryptocurrency within the two EMAs before in the coming days, but the bulls will stage a comeback to attain the bulls target at $174.00 in the supply area.


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Cryptoglobe:
Weekly trading signals for major cryptos - DECEMBER 10th


Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)


BTC/USD

Dominant trend: Bearish

Supply zone: $6400, $7200, $8000
Demand zone: $2500, $2000, $1500

The market remains under the control of the bears on the long-term outlook. Having achieved the predicted target last week at $3377 on 7th December and a further drop to $3277 in the demand area, the bears seems to have a brief rest. Exhaustion at the demand area denoted by wicks coupled with hammer signalled the bulls gradual return.

BTC/USD was up at $3800 on 8th December, but a further upward movement was rejected around the 10-EMA. The cryptocurrency provides a down-trending market scenario with the formation of lower highs and lower lows.

With the price below the two EMAs that are fanned apart which suggest strength in the context of the trend and in this case the downtrend, BTCUSD may be set for a new lower low as the bears’ pressure becomes much stronger.
ETH/USD

Dominant trend: Bearish

Supply zones: $200, $220, $240
Demand zones: $50, $40, $30

The bears’ pressure was sustained in the past week as Ethereum went further down to $83.00 in the demand area on 7th December closing the week lower than the previous at $111.52. Rejection to further downward price movement was obvious as the bulls return this was signalled by the two hammers formation a strong indication of trend reversal.

$102.50 in the supply area was retested as the new week began on 9th December.

This flag formed by the bullish pressure was necessary for the market correction before the downtrend continuation. With the price below the EMAs an indication of strong bears pressure, $53.93 the 261.8 fib level in the demand area may be tested in days ahead


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