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November 14, 2019

The Crypto Daily – Movers and Shakers -14/11/19

Bitcoin fell by 0.33% on Wednesday. Partially reversing a 1.06% rise from Tuesday, Bitcoin ended the day at $8,801.1.

A bearish start to the day saw Bitcoin fall from an early morning intraday high $8,849.9 to a mid-morning intraday low $8,730.3.

Bitcoin left the major support and resistance levels untested before recovering to $8,800 levels by late morning.

The bearish sentiment continued into the early afternoon, however, with Bitcoin falling back to sub-$8,000 levels.

Through the latter part of the day, Bitcoin managed to move back through to $8,800 levels to limit the day loss.

For the bulls, the extended bullish trend remained intact in spite of failing to break back through the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was another mixed day for the majors on Wednesday.

Binance Coin and Tron’s TRX led the way, rising by 1.72% and by 2.30% respectively.

Ethereum and Ripple’s XRP also ended the day in the green, with gains of 0.4% and 0.08% respectively.

It was a bearish day for the rest of the pack, however, with Bitcoin Cash SV falling by 2.16% to lead the way down.

Bitcoin Cash ABC (-1.58%), EOS (-0.21%), Litecoin (-0.93%), and Stellar’s Lumen (-1.65%) saw more modest loses on the day.

Through the current week, the total crypto market cap fell from a current week high $246.9bn to a current week low $237.75bn on Monday. On Tuesday through Wednesday, the market cap fell back to $237.9bn levels before striking a Wednesday high to $241.79bn. At the time of writing, the total market cap stood at $240.68bn.

Bitcoin’s dominance fell back to 65% levels on the day, with Bitcoin under pressure through Wednesday. Trading volumes also fell back to $61bn levels after having recovered to $70bn levels. Last week, 24-hour volumes had also fallen to $61bn levels.

This Morning

At the time of writing, Bitcoin was down by 0.09% to $8,792.8. A range-bound start to the day saw Bitcoin fall from an early morning high $8,817.4 to a low $8,790.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed bag across the majors.

Binance Coin led the way early on, rising by 1.33%. Stellar’s Lumen (+0.67%) and Ripple’s XRP (+0.19%) also found early support.

It was a bearish start for the rest of the pack, however. Bitcoin Cash SV was the worst performer, with a 0.44% loss.

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,790 to support a run at the first major resistance level at $8,857.23.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $8,849.9.

Barring a broad-based crypto rally on the day, Bitcoin would likely come up short of $8,900 levels once more.

Failure to move through to $8,790 levels could see Bitcoin slide deeper into the red. A fall back to sub-$8,750 levels would bring the first major support level at $8,737.63 into play.

Barring an extended sell-off, however, Bitcoin should steer clear of the second major support level at $8,674.17.

November 13, 2019

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 13/11/19

Binance Coin Price Resistance

A bullish start to the week saw Binance coin rally to a Sunday high $20.92 before hitting reverse.

Binance Coin broke through the first major resistance level at $20.85 before sliding to a Monday current week low $19.60.

Steering clear of the first major support level at $18.87, found support through Tuesday to strike a high $20.98.

Binance Coin broke back through the first major resistance level at $20.85 late in the day.

While breaking through the first major resistance level, the 23.6% FIB of $21 limited the upside early in the week.

A 3.4% rise on Sunday and a 4.4% rally on Tuesday gave Binance Coin a 6.4% gain for the current week, Sunday through Tuesday.

A 1.6% loss on Monday limited the upside for the current week, however.

The near-term bearish trend remained intact, in spite of 3 weeks out of 4 in the green and the positive start to the week. Binance Coin continued to struggle at the 23.6% FIB of $21.

For the bulls, Binance coin would need to break through the 62% FIB of $30 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 1.8% to $20.58. A mixed start to the day on Wednesday saw Binance Coin strike an early morning current week high $21.07 before hitting reverse.

Binance Coin broke through the 23.6% FIB of $21 before sliding to a morning low $20.54.

For the remainder of the week

Binance Coin would need to break back through the first major resistance level and 23.6% FIB of $21 to support further upside.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $21.11.

Barring an extended rally into the weekend, however, Binance Coin would likely come up short of the second major resistance level at $21.97.

Through the middle of the week, Binance Coin will need to hold on to $20 levels to support the upward momentum.

Failure to move back through the 23.6% FIB could see Binance Coin come under pressure in the 2^nd half of the week.

A pullback to sub-$20 levels would bring the first major support level at $18.87 into play before any recovery.

Barring a crypto meltdown, however, Binance Coin should steer clear of the second major support level at $18.01.

Looking at the Technical Indicators

Major Support Level: $18.87

Major Resistance Level: $20.85

23.6% FIB Retracement Level: $21

38.2% FIB Retracement Level: $24

62% FIB Retracement Level: $30

November 12, 2019

The Crypto Daily – Movers and Shakers -12/11/19

Bitcoin hit reverse at the start of the week, falling by 3.66% on Monday. Reversing a 2.74% gain from Sunday, Bitcoin ended the day at $8,737.70.

A relatively bullish start to the day saw Bitcoin rise to an early morning intraday high $9,108.5 before hitting reverse.

Falling short of the first major resistance level at $9,291.8, Bitcoin slid to a late morning intraday low $8,616.5.

Bitcoin fell through the first major support level at $8,805.8 to its lowest level since 24^th October.

Finding support in the late morning, Bitcoin moved back through to $8,700 levels going into the afternoon.

Through relatively range-bound 2^nd half of the day, Bitcoin managed to strike a high $8,799.4 before easing back.

For the bulls, the extended bullish trend remained intact in spite of failing to break back through the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors on Monday.

Stellar’s Lumen bucked the trend on the day, rising by 1.13%.

It was bearish for the rest of the pack, however. EOS led the way down, falling by 4.19%. Litecoin (-3.02%), Bitcoin Cash SV (-2.64%), Bitcoin Cash ABC (-2.60%), and Ethereum (-2.24%) also saw relatively heavy losses.

Binance Coin (-1.67%), Ripple’s XRP (-1.82%), and Tron’s TRX (-1.56%) saw relatively modest losses on the day.

Through the start of the week, the total crypto market cap fell from a Monday high $246.9bn to a low $237.75bn before support kicked in. At the time of writing, the total market cap stood at $239.25bn.

Bitcoin’s dominance held onto 66% levels on the day, in spite of the heavy loss. Trading volumes fell back to sub-$70bn levels after having recovered from $61bn levels from last week.

This Morning

At the time of writing, Bitcoin was up by 0.18% to $8,753.7. A mixed start to the day saw Bitcoin fall to an early morning low $8,726.7 before striking a high $8,759.9.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, Bitcoin Cash ABC (-0.49%), Tron’s TRX (-0.21%), and Binance Coin (-0.07%) saw red early on.

It was green for the rest of the pack, with EOS (+0.86%) and Stellar’s Lumen (+0.78%) leading the way early on.

Bitcoin Cash SV (+0.36%), Ethereum (+0.43%), Litecoin (+0.12%), and Ripple’s XRP (+0.17%) saw modest gains in the 1^st hour.

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,820 levels to support a run at the first major resistance level at $9,025.30.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,000 levels.

Barring a broad-based crypto rally on the day, Bitcoin would likely come up short of Monday’s high $9,108.5.

Failure to move through to $8,820 levels could see Bitcoin slide back into the red.

A fall back to sub-$8,700 levels would bring the first major support level at $8,533.30 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should steer well clear of sub-$8,500 levels.

November 10, 2019

Altcoins Weekly Analysis – BNB, EOS and ETH – 10/11/19

Binance Coin

Binance Coin fell by 2.42% in the week ending 9^th November. Partially reversing a 6.42% rally from the previous week, Binance Coin ended the week at $19.73.

A bearish start to the week saw Binance Coin fall to a Sunday low $19.72 before finding support.

Steering well clear of the first major support level at $18.24, Binance Coin rallied to a Monday intraweek high $21.11 before hitting reverse.

While falling short of the first major resistance level at $21.76, Binance Coin broke through the 23.6% FIB of $21.

In spite of 3 consecutive days in the green, Binance Coin eased back to $20 levels before 2 consecutive days in the red.

A 1.45% fall on Thursday and a 3.86% slide on Friday saw Binance Coin fall to an intraweek low $19.13 before finding support.

In spite of the pullback, Binance Coin steered clear of the first major support level at $18.24.

A 0.66% gain on Saturday to $19.7 levels was not enough to reverse the losses from the week.

For the week ahead

Binance Coin would need to move through to $20 levels to support a run at the first major resistance level at $20.85.

Support from the broader market would be needed, however, for Binance Coin to move back through to $20 levels.

In the event of a broad-based crypto rally, the 23.6% FIB of $21 would likely come into play. Barring an extended rally through the week, however, Binance Coin would likely come up short of the second major resistance level at $23.95.

Failure to move through to $20 levels could see Binance Coin take another hit. A fall through last week’s low $19.13 would bring the first major support level at $18.87 into play.

Barring a crypto meltdown, however, Binance Coin should steer clear of the second major support level at $18.01.

At the time of writing, Binance Coin was up by 0.4% to $19.81.

EOS

EOS rose by 4.5% in the week ending 9^th November. Following on from a 5.90% gain from the previous week, EOS ended the week at $3.4904.

A bearish start to the week saw EOS fall to a Sunday intraweek low $3.200 before finding support. In spite of a 1.63% loss on the day, EOS steered clear of the first major support level at $3.0903.

A bullish Monday and Tuesday saw EOS rally by 5.52% and by 4.94% respectively, to strike an intraweek high $3.69 before hitting reverse.

EOS broke through the first major resistance level at $3.5716 before seeing 3 consecutive days in the red.

EOS fell back to $3.31 levels before finding support. A move back through to $3.4 levels and a 2.41% gain on Saturday supported the upside for the week.

For the week ahead

EOS would need to move through to $3.50 levels to support a run at the first major resistance level at $3.7203.

Support from the broader market would be needed, however, for EOS to break through last week’s high $3.69.

Barring another bullish run through the week, last week’s high $3.69 and first major resistance level would likely cap any upside.

Failure to move through to $3.5 levels could see EOS hit reverse. A fall through to sub-$3.40 level would bring the first major support level at $3.2303 into play.

Barring an extended sell-off through the week, however, EOS should steer well clear of sub-$3.00 support levels.

At the time of writing, EOS was down by 0.81% to $3.4622.

Ethereum

Ethereum rose by 0.82% in the week ending 9^th November. Following on from a 1.79% gain from the previous week, Ethereum ended the week at $184.77.

A mixed start to the week saw Ethereum fall to a Sunday intraweek low $179.11 before finding support.

Steering clear of the first major support level at $175.59, Ethereum rallied to a Wednesday intraweek high $194.6.

Ethereum broke through the first major resistance level at $192.16 before sliding back to $180 levels.

Support at the end of the week saw Ethereum move back through to $184 levels to close out the week in positive territory.

After a 0.83% loss on Sunday, Ethereum saw 3 consecutive days in the green to hit the week intraweek high before easing back.

2 consecutive days in the red left Ethereum with modest gains for the week.

For the week ahead

Ethereum would need to move through to $186 levels to support a run at the first major resistance level at $193.21.

Support from the broader market would be needed, however, for Ethereum to break back through to $190 levels.

Barring an extended crypto rally through the week, Ethereum would likely continue to fall short of $200 levels.

Failure to move through to $190 levels could see Ethereum come under pressure. A fall through to last week’s low $179.11 would bring the first major support level at $177.72 into play.

Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $170.67.

At the time of writing, Ethereum was down by 0.51% to $183.82.

November 7, 2019

The Crypto Daily – Movers and Shakers -07/11/19

Bitcoin rose by 0.17% on Wednesday. Partially reversing a 1.08% fall from Tuesday, Bitcoin ended the day at $9,352.8.

A bullish start to the day saw Bitcoin rise from an early morning low $9,300.0 to a mid-morning intraday high $9,475.0.

Steering clear of the major support levels, Bitcoin came within range of the first major resistance level at $9,500.83.

A reversal through the late morning, however, saw Bitcoin fall to a late afternoon intraday low $9,278.0.

In spite of the pullback, Bitcoin steered clear of the first major support level at $9,181.83.

Finding support late in the day, Bitcoin moved back to $9,300 levels to close out the day in the green.

For the bulls, the extended bullish trend remained intact in spite of failing to break back through the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors on Wednesday.

Bitcoin Cash ABC and Ripple’s XRP led the way, with gains of 4.19% and 3.07% respectively.

Bitcoin Cash SV (+0.32%), Ethereum (+1.23%), Litecoin (+1.55%), and Tron’s TRX (+1.7%) also saw green.

Stellar’s Lumen and EOS bucked the trend, however, with losses of 6.36% and 0.64% respectively.

Binance Coin ended the day flat, with a 0.05% gain.

Through the current week, the total crypto market cap rose from a low $246.06bn to a Wednesday high $254.37 before easing back. At the time of writing, the total market cap stood at $253.38bn.

Bitcoin’s dominance held onto 66% levels on the day, following the minor gain on Wednesday, while trading volumes slipped back to sub-$90bn levels.

This Morning

At the time of writing, Bitcoin was up by 0.07% to $9,359.7. A mixed first hour saw Bitcoin fall to an early morning low $9,340.1 before striking a high $9,359.8.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, Ripple’s XRP (+0.82%), EOS (+0.37%), and Ethereum (+0.20%) joined Bitcoin in the green.

It was red for the rest of the pack, however, with Tron’s TRX falling by 0.51% to lead the way down.

Binance Coin (-0.13%), Bitcoin Cash ABC (-0.10%), Bitcoin Cash SV (-0.31%), Litecoin (-0.10%), and Stellar’s Lumen (-0.11%) saw modest losses early on.

For the Bitcoin Day Ahead

Bitcoin would need to move through to $9,370 levels to support a run at the first major resistance level at $9,459.20.

Support from the broader market would be needed, however for Bitcoin to break back through to $9,400 levels.

Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high $9,475 would likely limit any upside.

In the event of a breakout, Bitcoin would likely revisit $9,500 levels before any pullback. The second major resistance level at $9,565.60 would likely pin Bitcoin back, however.

Failure to move through to $9,370 levels could see Bitcoin hit reverse.

A fall through the morning low $9,340.1 to sub-$9,300 levels would bring the first major support level at $9,262.2 into play.

Barring an extended sell-off through the day, Bitcoin should steer well clear of sub-$9,200 support levels.

November 6, 2019

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 06/11/19

Coins of crypto currency are presented on a dark background. Virtual money concept.

Binance Coin Price Resistance

A bearish start to the week saw Binance Coin fall to a Sunday current week low $19.72 before finding support. Binance Coin steered clear of the first major support level at $18.24 at the start of the week.

Off the back of a 0.13% loss on Sunday, Binance Coin rallied to a Monday current week high $21.11 before easing back.

Supported by a 2.33% gain on the day, Binance Coin broke through the 23.6% FIB of $21. In spite of the upside, however, Binance Coin fell short of the first major resistance level at $21.76.

A choppy day on Tuesday saw Binance Coin test resistance at the 23.6% FIB of $21 again before easing back.

A modest 0.12% gain on the day supported a hold onto $20 levels going into the middle of the week.

The recovery from a bearish start to the week left Binance Coin up by 2.32% for the current week, Sunday through Tuesday.

The near-term bearish trend remained intact, in spite of 4 consecutive weeks in the green and the positive start to the week. Binance Coin continued to struggle at the 23.6% FIB of $21.

For the bulls, Binance Coin would need to break through the 62% FIB of $30 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.20% to $20.65. A mixed start to the day saw Binance Coin fall from an early morning high $20.75 to a low $20.47.

Binance Coin continued to leave the major support and resistance levels untested.

For the remainder of the week

Binance Coin would need to break back through the 23.6% FIB of $21 to support a run at the first major resistance level at $21.76.

Support from the broader market would be needed, however, for Binance Coin to break out from last week’s high $21.31.

Barring an extended rally into the weekend, Binance Coin would likely come up short of the second major resistance level at $23.29.

Through the middle of the week, Binance Coin will need to hold on to $20 levels to support the upward momentum.

Failure to move back through the 23.6% FIB could see Binance Coin come under pressure.

A pullback to sub-$20 levels would bring the $18 levels into play before any recovery.

Barring a crypto meltdown, however, Binance Coin should steer clear of the first major support level at $18.24.

Looking at the Technical Indicators

Major Support Level: $18.24

Major Resistance Level: $21.76

23.6% FIB Retracement Level: $21

38.2% FIB Retracement Level: $24

62% FIB Retracement Level: $30

November 5, 2019

The Crypto Daily – Movers and Shakers -05/11/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin rose by 2.35% on Monday. Reversing a 1.18% loss from Sunday, Bitcoin ended the day at $9,440.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $9,152.00 before making a move.

Holding above the first major support level at $9,081.4, Bitcoin rallied to a late intraday high $9,645.00

Bitcoin broke through the first major resistance level at $9,382.00 and the second major resistance level at $9,541.6.

A late pullback to sub-$9,500 levels limited the upside on the day.

For the bulls, the extended bullish trend remained intact in spite of failing to break back through the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors on Monday.

Bitcoin Cash ABC bucked the trend on the day, with a 0.69% loss.

Bullish for the rest of the pack, Stellar’s Lumen led the way rallying by 15%, which reversed a 4.77% slide from Sunday on the way.

EOS (+5.51%), and Litecoin (+5.23%) also saw solid gains on the day.

Binance Coin (+2.33%), Bitcoin Cash SV (+2.25%), Ethereum (+2.49%), Ripple’s XRP (+3.15%), and Tron’s TRX (+2.12%) saw more modest gains on the day.

At the start of the week, the total crypto market cap rose from a low $246.06bn to a Monday high $253.4 before easing back. At the time of writing, the total market cap stood at $250.45bn.

Bitcoin’s dominance held steady 67% levels on the day, while trading volumes bounced back from $70bn levels to hit $88bn levels.

This Morning

At the time of writing, Bitcoin was down by 0.2% to $9,421.3. A relatively bearish start to the day saw Bitcoin fall from an early morning high $9,442.0 to a low $9,402.2.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, Stellar’s Lumen continued its rally, surging by 6.63% within the first hour of the day.

Ripple’s XRP (+1.23%), Litecoin (+0.29%), and Binance Coin (+0.16) also found support.

It was a bearish start for the rest of the pack, however. Bitcoin Cash SV and Bitcoin Cash ABC led the way down, with losses of 1.23% and 0.70% respectively.

EOS (-0.53%), Ethereum (-0.45%), and Tron’s TRX (-0.21%) saw modest losses early on.

For the Bitcoin Day Ahead

Bitcoin would need to steer clear of sub-$9,420 levels to support a run at the first major resistance level at $9,672.67.

Support from the broader market would be needed, however, for Bitcoin to break through Monday’s high $9,645.0.

Barring a broad-based crypto rebound, resistance at $9,500 levels would likely limit any upside on the day.

In the event of another broad-based crypto rally, Bitcoin could take a run at the 38.2% FIB of $9,734 before any pullback.

Failure to steer clear of sub-$9,420 levels could see Bitcoin fall deeper into the red.

A fall through to $9,300 levels would bring the first major support level at $9,179.67 into play.

Barring a crypto meltdown, however, we would expect Bitcoin to steer clear of sub-$9,000 support levels on the day.

November 3, 2019

Altcoins Weekly Analysis – BNB, EOS and ETH – 03/11/19

cryptocurrency Silver and gold Bitcoin,litecoin,ethereum on dollar banknote on golden table,Virtual Digital money on blockchain concept.financial business.crypto currency mining.

Binance Coin

Binance Coin rallied by 6.42% in the week ending 2^nd November. Following on from a 4.14% gain from the previous week, Binance Coin ended the week at $20.22.

A bullish start to the week saw Binance Coin rally from a Sunday intraweek low $17.79 to a Monday intraweek high $21.31.

The early rally saw Binance Coin break through the 23.6% FIB of $21 and the first major resistance level at $21.15 before sliding back to sub-$20 on the day.

Finding further support on Tuesday, Binance Coin broke back through the 23.6% FIB and first major resistance level before hitting reverse.

Following 3 consecutive days in the green, Binance Coin saw 2 consecutive days in the red. The pullback saw Binance Coin fall back to $19 levels.

Steering clear of the major support levels, 2 consecutive days in the green provided much-needed support at the end of the week.

For the week ahead

Binance Coin would need to steer clear of sub-$19.80 levels to support a run at 23.6% FIB of $21 and the first major resistance level at $21.76.

Support from the broader market would be needed, however, for Binance Coin to break back through the 23.6% FIB.

In the event of a broad-based crypto rally, Binance Coin could test the second major resistance level at $23.29 before any pullback.

We would expect Binance Coin to fall well short of the 38.2% FIB of $24, however.

Failure to steer clear of sub-$19.80 levels could see Binance Coin test the first major support level at $18.24.

Barring an extended sell-off through the week, however, we would expect Binance Coin to steer clear of sub-$18 support levels.

At the time of writing, Binance Coin was up by 0.42% to $20.31.

EOS

EOS rose by 5.90% in the week ending 2^nd November. Following on from a 9.18% rally from the previous week, EOS ended the week at $3.3350.

A bullish start to the week saw EOS rally from an early Sunday intraweek low $3.0823 to a Monday intraweek high $3.5636.

The bullish start to the week saw EOS rally by 6.33% on Sunday to deliver the upside for the week.

In spite of the early moves, EOS left the major support and resistance levels untested early on.

It was a relatively choppy week, however, with EOS managing only 3 days in the green. Mid-week, EOS slid back to sub-$3.20 levels on Thursday before finding support.

EOS rose by 2.8% on Friday to $3.42 levels before easing back with another day in the red on Saturday.

For the week ahead

EOS would need to steer clear of sub-$3.30 levels to support a run at the first major resistance level at $3.5716.

Support from the broader market would be needed, however, for EOS to break out from last week’s high $3.5636.

Barring an extended rally through the week, last week’s high $3.5636 and first major resistance level would likely cap any upside.

Failure to steer clear of sub-$3.30 levels could see EOS give up gains from last week. A fall through to sub-$3.30 levels would bring the first major support level at $3.0903 into play.

Barring a crypto meltdown, however, EOS should steer clear of sub-$3 support levels in the week.

At the time of writing, EOS was up by 0.52% to $3.3522.

Ethereum

Ethereum rose by 1.79% in the week ending 2^nd November. Following on from a 4.64% gain from the previous week, Ethereum ended the week at $183.25.

A relatively bullish start to the week saw Ethereum rally from a Sunday intraweek low $176.84 to a Tuesday intraweek high $193.41.

In spite of a 2.4% gain on Sunday and a 5% rally on Tuesday, Ethereum came up short of the first major resistance level at $202.02.

2 consecutive days in the red, including a 4% slide on Wednesday saw Ethereum fall back to $177 levels.

Steering clear of the first major support level at $155.52, Ethereum broke back through to $183 levels. The late recovery delivered the upside on the week.

For the week ahead

Ethereum would need to steer clear of sub-$184.5 levels to support a run at the first major resistance level at $192.16.

Support from the broader market would be needed, however, for Ethereum to break back through to $190 levels.

Barring a broad-based crypto rally, Ethereum would likely come up short of last week’s high $193.41.

In the event of a crypto breakout, the second major resistance level at $201.07 could be tested.

Failure to steer clear of sub-$184.5 levels could see Ethereum hit reverse. A fall through to sub-$180 levels would bring the first major support level at $175.59 into play before any recovery.

Barring an extended sell-off through the week, Ethereum should continue to steer clear of sub-$170 support levels.

At the time of writing, Ethereum was up by 0.70% to $184.54.

October 31, 2019

The Crypto Daily – Movers and Shakers -31/10/19

Bitcoin slid by 2.78% on Wednesday. Reversing a 2.34% gain from Tuesday, Bitcoin ended the day at $9,184.3.

Bearish through the morning, Bitcoin slid from an early morning intraday high $9,446.9 to a mid-afternoon intraday low $9,035.0.

Falling short of the first major resistance level at $9,636.87, Bitcoin fell through the first major support level at $9,177.07.

Finding support through the latter part of the day, Bitcoin bounced back to $9,200 levels before a final hour pullback.

In spite of the pullback, Bitcoin held above the first major support level at the day’s end.

For the bulls, the extended bullish trend remained intact in spite of failing to break out from the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors on Wednesday.

Bitcoin Cash ABC bucked the trend on the day, rising by 0.15%.

It was a bear trap for the rest of the majors, which gave up strong gains from the early hours of the day.

Tron’s TRX led the way down, sliding by 8.98%. The loss came in spite of the Chinese government’s latest blockchain rankings.

Stellar’s Lumen (-5.03%), Ethereum (-4.00%), Bitcoin Cash SV (-3.77%, EOS (-3.76%), Binance Coin (-3.42%), and Litecoin (-3.16%) also saw heavy losses.

Ripple’s XRP was also in the red, falling by a more modest 2.36% on the day.

Through the start of the week, the total crypto market cap hit an early morning high $257.76bn on Monday before sliding to a Wednesday low $243.12bn. At the time of writing, the total market cap stood at $246.72bn.

Bitcoin’s dominance held steady 67% levels as the broader market hit red, while trading volumes hovered at sub-$100bn levels.

This Morning

At the time of writing, Bitcoin was down by 0.03% to $9,181.8. A mixed start to the day saw Bitcoin rise to an early morning high $9,232.9 before falling to a low $9,165.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, Bitcoin Cash SV and EOS joined Bitcoin in the red, with losses of 0.99% and 0.25% respectively.

It was positive for the rest of the pack, Litecoin (+0.85%) and Stellar’s Lumen (+0.70%) led the way early on.

For the Bitcoin Day Ahead

Bitcoin would need to move through to $9,250 levels to support a run at the first major resistance level at $9,409.13.

Support from the broader market would be needed, however, for Bitcoin to break through to $9,300 levels.

Barring a broad-based crypto rally on the day, the first major resistance level and Wednesday’s high $9,446.9 would likely cap any upside.

Failure to move through to $9,250 levels could see Bitcoin spend another day in the red.

A fall through to sub-$9,100 levels would bring the first major support level at $8,997.23 into play.

Barring a broad-based crypto sell-off, however, Bitcoin should steer clear of sub-$8,900 support levels.

October 30, 2019

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 30/10/19

Binance Coin Price Resistance

A bearish start to the week saw Binance coin fall to a Sunday intraweek low $18.46 before finding support.

In spite of the early pullback, Binance Coin steered clear of the first major support level at $16.44.

Finding support from the broader market, Binance Coin rallied to a Monday intraday high $21.31 before easing back.

Binance Coin came up against the first major resistance level at $21.15 before sliding back.

Of greater significance, however, was a breakthrough the 23.6% FIB of $21 before the pullback.

The reversal saw Binance coin pullback to sub-$20 levels before finding support.

Steering well clear of the major support levels, Binance Coin bounced back to a Tuesday high $21.29 before easing back to $20 levels.

Binance coin once again broke through the 23.6% FIB before the pullback to sub-$21 levels.

In spite of the choppy week, it’s been 3 consecutive days in the green for Binance Coin, which was up 9.5%, Sunday through Tuesday.

The near-term bearish trend remained intact, in spite of 3 consecutive weeks in the green and the positive start to the week. Binance Coin continued to struggle at the 23.6% FIB of $21.

For the bulls, Binance coin would need to break through the 62% FIB of $30 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 1.62% to $20.46. A bearish start to the day on Wednesday saw Binance Coin slide from an early morning high $20.89 to a low $20.13.

For the remainder of the week

Binance Coin would need to break back through the 23.6% FIB of $21 to support further upside in the week.

Support from the broader market would be needed, however, for Binance Coin to break out from the first major resistance level at $21.15.

Barring an extended rally into the weekend, Binance Coin would likely come up short of the second major resistance level at $23.31.

Through the middle of the week, holding onto $20 levels will be considered key to support the upward momentum.

Failure to move back through the 23.6% FIB could see Binance Coin come under pressure.

A pullback to sub-$20 levels would bring the $18 levels into play before any recovery.

Barring a crypto meltdown, however, Binance Coin should steer well clear of the first major support level at $16.44.

Looking at the Technical Indicators

Major Support Level: $16.44

Major Resistance Level: $21.15

23.6% FIB Retracement Level: $21

38.2% FIB Retracement Level: $24

62% FIB Retracement Level: $30