Bitcoin Price Analysis: Strong Impulse Tests Macro Support Levels

Finally, after about a week or so of a tight, range-bound market, bitcoin poked right through support. This swift move dropped the price nearly 10% in the span of just a few short hours: Figure 1: BTC-USD, Hourly Candles, 11% Drop Not only did this move occur on high spread, it occured on high volume. This level of supply and overall lack of demand is nothing something you would want to see if you are feeling bullish regarding bitcoin’s market structure. Currently, we are sitting right on top of daily…

Ripple Price Analysis: XRP Holding Important Support, Can It Recover?

Ripple price traded lower recently and tested the $0.3580 support against the US dollar. There is a major bullish trend line with support at $0.3530 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could recover above $0.3650 as long as it is above the $0.3530 and $0.3580 supports. Ripple price corrected lower recently against the US Dollar and Bitcoin. XRP/USD must stay above $0.3530 to start a fresh upward move in the near term. Ripple Price Analysis After forming a high near the $0.3760…

Bitcoin Price Weekly Analysis: BTC Holding Key Uptrend Support

Key Points Bitcoin price declined recently towards the $3,560 support area against the US Dollar. There is a key bullish trend line formed with support $3,680 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently holding a crucial support and it could bounce back above $3,800 and $3,900. Bitcoin price is holding the key uptrend support near $3,600 against the US Dollar. BTC/USD is likely to resume its upward move above $4,000 in the near term. Bitcoin Price Analysis This past week, bitcoin…

Ripple Price Analysis: XRP Broke Key Support, More Losses Ahead

Key Highlights Ripple price traded lower recently and broke the $0.3550 and $0.3440 supports against the US dollar. There is a major bearish trend line formed with resistance at $0.3560 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may correct a few points in the near term, but it could face sellers near $0.3550 and $0.3600. Ripple price extended the recent decline against the US Dollar and Bitcoin. XRP/USD is now in a bearish zone and it could decline further towards the $0.3100 level.…

Bitcoin Price Eyes Support at $3,000 as BTC/USD Sets New Yearly Low

The bitcoin price on Friday plunged 6.5 percent against the US Dollar, breaking below the flagship cryptocurrency’s previous yearly low at $3,455. The bearish cycle took another turn after the Securities and Exchange Commission (SEC) halted its decision on the VanEck’s upcoming bitcoin ETF once again. The fundamental has been treated as one of the strongest bullish catalysts for the bitcoin market, with many believing that its approval would bring a minimum of $1 billion investment into space. In case the US regulator disapproves it, the market sentiment would be…

Bakkt Looks for Support for Its Next Futures Contract

As Bitcoin continues to slide past the $4,500 mark, bullish investors need something to hold onto. Bakkt is trying to give it to them. Intercontinental Exchange, the owner of the NYSE, is fighting the good fight with a plan to make cryptocurrencies mainstream. Bakkt is its plan. The new platform offers regulated trading, clearing and custody, and security. It is a safe environment for consumers to buy, sell, store, and spend digital assets. Bakkt and Bitcoin The platform’s first futures contract will be a Bitcoin one, as it is “the clear crypto…

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…

Crypto Exchanges Line Up to Support Bitcoin Cash’s Hard Fork

Six of the top 10 crypto exchanges by bitcoin cash (BCH) trading volume have announced plans to support the cryptocurrency’s upcoming hard fork on Nov 15. Bitcoin cash’s roadmap includes upgrades to its core code every six months, but disagreement over some changes to the network have raised the specter that two distinct branches of the cryptocurrency could take shape, given that two implementations – Bitcoin ABC and Bitcoin SV – are being put forward by competing teams. While the outcome isn’t clear, one scenario would see two separate cryptocurrencies arise…

Bitcoin Cash Surges 12% Prior to Hard Fork as Coinbase Reveals Support

Twitter Facebook LinkedIn Over the last 24 hours, Bitcoin Cash (BCH) has increased by around 12 percent from $425 to $477 prior to its hard fork. On November 2, CCN reported that Bitcoin.com and Binance decided to support the version of Bitcoin Cash set forth by ABC, the original developers of the BCH software that forked the Bitcoin blockchain network last year. Upon the announcement of Bitcoin.com and Binance, the price of Bitcoin Cash increased from $425 to $460, briefly reaching $470. Since then, the price of BCH has risen…

Coinbase Is Officially Adding Support for Basic Attention Token (BAT)

On November 2, 2018, Coinbase announced that it would be integrating support for Basic Attention Token (BAT), an ERC-20 token that is designed to work out-of-the-box with the privacy-centric Brave Browser, on CoinbasePro. BAT will initially trade against USD Coin (USDC), a stablecoin that Coinbase developed with Circle Ltd. and recently added to its platforms. The new offering is not available on Coinbase’s primary platform, and the company said it would make a separate announcement when this occurs. The offering is being integrated on Coinbase Pro in the following order…