Bitcoin Cash Price Analysis: BCH/USD Consolidating Near Key Support

Key Points Bitcoin cash price traded as high as $637 and later corrected lower against the US Dollar. There was a break below a key bullish trend line with support at $605 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently trading near a major support at $575 and the 100 hourly simple moving average. Bitcoin cash price started a downside correction from the $640 swing high against the US Dollar. BCH/USD is currently consolidating near $575 and it could bounce back. Bitcoin…

Bitcoin Price Intraday Analysis: BTC/USD in Breakout Action

Twitter Facebook LinkedIn Bitcoin on Sunday jumped 2.13 percent against the US Dollar as USD-pegged cryptocurrency tether (USDT) resumed its implosion. BTC/USD was in a sideways sentiment for most of the weekend trading session. The bearish trendline has capped the upside bias on multiple occasions. Nevertheless, the pair — from the past 8 hou rs to the time of this writing — has persuaded a successful breakout action, breaking the cap mentioned above and forming new intraday highs towards 6464-fiat. At the same time, CoinMarketCap.com is showing a massive drop…

Bitcoin Price Intraday Analysis: BTC/USD Holds Support

Twitter Facebook LinkedIn Bitcoin on Friday witnessed as much as 1.3 percent gains against the US Dollar from the pair’s previous low at 6293-fiat. BTC/USD is in a minor pullback scenario ever since and is trading at 6364-fiat at the time of this writing. In contrast to the Asian session, the European hours today witnessed lower volume. It pushed the pair into a narrow trading range altogether, leaving little-to-no room for day traders to find intraday opportunities. The US Dollar Index (DXY), on the other hand, came under some selling…

Bitcoin Price Intraday Analysis: BTC/USD Recovers amid Vulnerability

Twitter Facebook LinkedIn Bitcoin on Thursday is trending inside a narrow trading channel, sustaining the 1 percent gain it made the previous day. The BTC/USD instrument is rebounding from the highs made during the Wednesday trading session, now 0.67 percent down at 6307-fiat. The high ticks in bitcoin’s volume index somewhat explain how new money has entered the bitcoin space in the past 24 hours. On the other hand, the US Dollar Index was on a downside corrective path on Wednesday, validating investors’ inclination towards redistributing their greenbacks back to…

Bitcoin Price Analysis: Weekly Consolidation Hints Toward Sustained …

Another week has passed as bitcoin continues to coil in a tighter and tighter consolidation. Both price and volume continue to consolidate as bitcoin decides where the next major move will be. A trend of higher lows and lower highs shows a balance of both supply and demand, but ultimately one will win out: Figure 1: BTC-USD, Daily Candles, Macro Consolidation To gain a perspective of *just* how tightly wound the market is, a great tool analysts often use are Bollinger Bands (bbands). Bbands are a visual representation of forecasted…

Bitcoin Price Intraday Analysis: BTC/USD Slips Intrarange

The bitcoin-to-dollar exchange rate on Thursday dropped a little over 1 percent from its intraday high towards 6377-fiat. Currently, the pair is trading at 6412-fiat, up 0.54 percent from the latest low. On the US Dollar front, the DXY continues to act inverse against the bitcoin market. The correlation is too visible to evade notice. When DXY rises, bitcoin starts dropping. And when DXY starts dropping, bitcoin rises. In the past 24 hours, the DXY market has established a fresh two-month top near 96.60 after dropping to lows yesterday, while…

Bitcoin Cash Price Analysis: Upsides In BCH/USD Capped Near $445

Key Points Bitcoin cash price declined after it failed to break the $445-450 resistance against the US Dollar. There is a connecting bearish trend line in place with resistance at $442 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair must stay above the $430-435 area to avoid a downside break towards $400. Bitcoin cash price is under pressure below $445 against the US Dollar. BCH/USD may continue to face sellers near the $440-450 resistance zone. Bitcoin Cash Price Analysis During the past few days,…

Bitcoin Price Intraday Analysis: BTC/USD Retests Interim Resistance

The Bitcoin-to-dollar exchange rate on Wednesday traded at 6435-fiat after jumping 1.76 percent from the previous day’s low. The pair is now reversing its upside action to extend the prevailing sideways bias. Selling pressure got renewed near the interim resistance level at 6450-fiat and BTC/USD gyrated above 6620-fiat as a result. The pair is now looking to the US Securities and Exchange Commission’s latest comments on VanEck and SolidX ETF for extended bullish movements. Meanwhile, the US Dollar Index is losing momentum after establishing fresh tops at 96.50-fiat. The overall…

Ripple Price Analysis: XRP/USD Could Accelerate Above $0.4700

Key Highlights Ripple price found a strong support near the $0.4320 level and bounced back against the US dollar. Yesterday’s highlighted key bearish trend line was broken with resistance at $0.4505 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair gained momentum above $0.4550 and traded towards the $0.4700 resistance. Ripple price climbed higher nicely against the US Dollar and Bitcoin. XRP/USD may continue to move higher towards the $0.4750 and $0.4800 levels in the near term. Ripple Price Analysis Yesterday, we discussed that a…

Ethereum Classic Price Analysis: ETC/USD Following Bullish Path Above $9.50

Key Highlights Ethereum classic price climbed higher steadily and tested the $10.00 resistance against the US dollar. The last week’s followed crucial ascending channel formed is intact with support at $9.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is placed nicely in a bullish path above the $9.50 and $9.60 support levels. Ethereum classic price is gaining momentum against the US Dollar and Bitcoin. ETC/USD could continue to grind higher above $10.00 in the near term. Ethereum Classic Price Analysis This past week,…