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February 27, 2020

The Crypto Daily – Movers and Shakers – 27/02/20

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

Bitcoin tumbled by 5.51% on Monday. Following on from a 3.58% slide on Tuesday, Bitcoin ended the day at $8.813.2.

A choppy start to the day saw Bitcoin rise to an early morning high $9,385.9 before hitting reverse.

Falling short of the first major resistance level at $9,595.8, Bitcoin slid to a late afternoon intraday low $8,652.7.

The reversal saw Bitcoin fall through the 38.2% FIB of $9,260, the first major support level at $9,155.30, and the second major support level at $8,983.10.

Steering clear of the third major support level at $8,542.60, Bitcoin recovered to $8,800 levels to limit the loss on the day.

In spite of the recovery, however, Bitcoin failed to break back through the second major support level.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, with Bitcoin struggling to break out from $10,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was yet another bearish day for the crypto majors.

Bitcoin Cash SV (-13.58%), Cardano’s ADA (-12.39%), EOS (-13.10%), Litecoin (-14.81%), and Tron’s TRX (-13.26%) saw the heaviest losses on the day.

Binance Coin (-7.88%), Bitcoin Cash ABC (-8.85%), Ethereum (-9.25%), Monero’s XMR (-7.56%), Ripple’s XRP (-9.15%), and Stellar’s Lumen (-7.57) also saw heavy losses.

Tezos saw a modest loss on the day, falling by just 1.79%.

Through the first half of the week, the crypto total market cap rose to a Monday high $285.11bn before hitting a Thursday low $241.84bn. At the time of writing, the total market cap stood at $245.37bn.

Bitcoin’s dominance was on the rise in the week. At the time of writing, Bitcoin’s dominance stood at 64.5%, up from sub-63% levels earlier in the day on Monday.

Trading volumes recovered from sub-$160bn levels to hit a current week high $196.34bn on Thursday morning. At the time of writing, 24-hr volumes stood at $192.17bn.

This Morning

At the time of writing, Bitcoin was down by 1.06% to $8,719.4. A bearish start to the day saw Bitcoin fall from an early morning high $8,810.0 to a low $8,555.0.

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

Elsewhere, it was a mixed start to the day for the majors.

Bitcoin Cash ABC (+0.58%), Bitcoin Cash SV (+2.86%), EOS (+1.03%), Ripple’s XRP (+0.53%), Tezos (+1.78%), and Tron’s TRX (+1.83%) found early support.

It was bearish for the rest of the pack, however, with Stellar’s Lumen (-1.98%) Ethereum (-1.93%, and Monero’s XMR (-2.13%) leading the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $8,950 levels to bring the first major resistance level at $9,248.50 into play.

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

Barring a broad-based crypto recovery, resistance at $9,000 would likely pin Bitcoin back on the day.

In the event of a crypto rally, the first major resistance level at $9,248.50 and 38.2% FIB of $9,260 would likely cap any upside.

Failure to move back through to $8,950 levels could see Bitcoin fall deeper into the red.

A fall back through the morning low $8,555.0 would bring the first major support level at $8,515.3 back into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,217.4 and the 23.6% FIB of $8,200.

February 26, 2020

Binance Coin Mid-Week Analysis – Support Levels in Play – 26/02/20

Binance Coin Price Support

It’s been another choppy 1^st half of the week for Binance Coin, which saw 2 days in the red out of 3.

A bullish start to the week saw Binance Coin rise to a Monday current week high $23.55 before hitting reverse.

While falling short of the first major resistance level at $24.55, Binance Coin broke through the 38.2% FIB of $22.9.

The reversal saw Binance Coin fall to a Tuesday low $19.95 before finding support.

Binance Coin fell through the 38.2% FIB of $22.9 and the first major support level at $20.16 before support kicked in.

Late in the day on Tuesday, Binance Coin broke back through the first major support level to reduce the deficit on the day.

For the current week, Binance Coin was down by 7.73 % to $20.28, Sunday through to Tuesday. The losses for the current week came off the back of a 3.56% fall on Monday and an 8.32% slide on Tuesday.

The near-term bearish trend remained intact, however, supported by the late 2019 reversal and December’s swing lo $12.11.

It’s been a bullish start to the year, however, with Binance Coin up by 48.6% from December’s swing lo.

For the bulls, Binance Coin would need to break through the 62% FIB of $29.5 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 4.16% to $19.43. A bearish start to the day on Wednesday saw Binance Coin slide from a morning high $20.52 to a low $18.93.

Binance Coin fell through the first major support level at $20.16 to test support at the 23.6% FIB of $18.8.

For the remainder of the week

Binance Coin would need to break back through the first major support level and hit $22.70 levels to support a run at the first major resistance level at $24.55.

Support from the broader market would be needed, however, for Binance Coin to break back through the 38.2% FIB of $22.90.

Barring a broad-based crypto rebound ahead of the weekend, Binance Coin would likely come up short of $24 levels.

In the event of an extended rally, the first major resistance level at $24.55 would likely limit any upside.

Failure to break back through to $22.70 levels could see Binance Coin fall deeper into the red.

A pullback through the current week low $18.93 would bring the second major support level at $18.33 back into play.

Barring an extended crypto meltdown, however, Binance Coin should steer clear of sub-$18 levels.

Looking at the Technical Indicators

Major Support Level: $20.16

Major Resistance Level: $24.55

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5

February 25, 2020

The Crypto Daily – Movers and Shakers – 25/02/20

Bitcoin and Litecoin over dollar banknotes.

Bitcoin slid by 3.11% on Monday. Reversing a 3.33% gain from Sunday, Bitcoin ended the day at $9,674.1

A bearish start to the day saw Bitcoin slide from an early morning intraday high $10,022 to a late afternoon intraday low $9,441.2.

Bitcoin fell through the first major support level at $9,763.0 and the second major support level at $9,541.0.

Finding support late in the day, Bitcoin moved back through the second major support level to wrap up the day at $9,600 levels.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, with Bitcoin struggling to break out from $10,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a bearish start to the week for the crypto majors.

Tezos led the way down, sliding by 9.69%, with Monero’s XMR down by 7.11%.

Bitcoin Cash ABC (-6.24%), Bitcoin Cash SV (-5.53%), EOS (-6.10%), Litecoin (-5.31%), Stellar’s Lumen (-5.82%), and Tron’s TRX (-6.94%) also saw heavy losses.

Binance Coin (-3.62%), Cardano’s ADA (-4.28%), Ethereum (-3.69%), and Ripple’s XRP (-4.65%) saw relatively modest losses on the day.

Through the start of the week, the crypto total market cap rose to a Monday high $285.11bn before hitting a low $275.54bn. At the time of writing, the total market cap stood at $277.56bn.

Bitcoin’s dominance was on the rise at the start of the week. At the time of writing, Bitcoin’s dominance stood at 63.1%, up from sub-63% levels earlier in the day on Monday.

Trading volumes hit $162bn levels seen on Monday before easing back. At the time of writing, 24-hr volumes stood at $152.20bn.

This Morning

At the time of writing, Bitcoin was down by 0.82% to $9,595.1. A bearish start to the day saw Bitcoin fall from an early morning high $9,674.9 to a low $9,570.8.

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

Elsewhere, it was another bearish start to the day for the majors.

Tezos led the way down, sliding by 4.46%. Bitcoin Cash SV (-2.47%), Bitcoin Cash ABC (-2.12%), and Stellar’s Lumen (-2.19%) also struggled early on.

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $9,715 levels to bring the first major resistance level at $9,983.67 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,900 levels.

Barring a broad-based crypto rebound, resistance at $9,800 would likely leave Bitcoin short of the first major resistance level at $9,983.67.

Failure to move back through to $9,715 levels could see Bitcoin fall deeper into the red.

A fall back through the morning low $9,570.8 would bring the first major support level at $9,402.87 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of the 38.2% FIB of $9,260.

February 23, 2020

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 23/02/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin fell by 9.36% in the week ending 22^nd February. Reversing most of an 11.04% rally from the previous week, Binance Coin ended the week at $21.99.

It was bearish through the week, with Binance Coin only seeing green on 3 out of the 7 days and a 2.96% gain on Tuesday the only highlight.

The pullback saw Binance Coin rise to a Tuesday intraweek high $25.28 before sliding to a Thursday intraweek low $20.89.

Falling well short of the major resistance levels, Binance Coin fell through the 38.2% FIB of $22.9 and the first major support level at $21.48.

Finding support late in the week, Binance Coin broke back through the first major support level to hit $22 levels before easing back.

For the week ahead

Binance Coin would need to break back through to $24 levels to bring the first major resistance level at $24.55 into play.

Support from the broader market would be needed for Binance Coin to break back through the 38.2% FIB of $22.9 to hit $24 levels.

Barring a broad-based crypto rally, resistance at $25 would likely continue to limit the upside in the week.

In the event of a breakout, the second major resistance level at $27.11 would likely pin Binance Coin back.

Failure to move back through to $24 levels could see Binance Coin spend a 2^nd week in the red.

A fall back to sub-$22 levels would bring the first major support level at $20.16 into play

Barring a crypto meltdown, however, Binance Coin should steer clear of sub-$20 levels.

At the time of writing, Binance Coin was up by 2.41% to $22.52. A bullish start to the week saw Binance Coin rally from an early morning low $21.96 to a high $22.95 on Sunday morning.

Steering clear of the major support levels, Binance Coin broke through the 38.2% FIB of $22.90 before easing back.

Litecoin

Litecoin fell by just 2.45% in the week ending 22^nd February. Reversing a 0.10% gain from the previous week, Litecoin ended the week at $74.88.

Bearish through the week, Litecoin fell from a Sunday intraweek high $80.80 to a Thursday intraweek low $66.00

Litecoin broke through the 38.2% FIB of $78 before hitting reverse. Falling short of the first major resistance level at $83.34, Litecoin fell through the first major support level at $71.30.

A bullish end to the week, that included a 5.55% rally on Friday, led to recovery to $70 levels to limit the loss on the week.

In spite of the recovery, 4 days in the red out of 7 left Litecoin short of the 38.2% FIB in the week.

For the week ahead

Litecoin would need to move through to last week’s high $80.80 to support a run at the first major resistance level at $81.79.

Support from the broader market would be needed for Litecoin to move back through the 38.2% FIB.

Barring an extended crypto rally, however, resistance at $80 would likely pin Litecoin back in the week once more.

Failure to move back through the 38.2% FIB could see Litecoin hit reverse.

A fall back through to sub-$74 levels would bring the first major support level at $66.99 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$65 levels in the week.

At the time of writing, Litecoin was up by 2.87% to $77.03. A bullish start to the week saw Litecoin rise from an early morning low $74.70 to a high $77.80 before easing back.

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

Tron’s TRX

Tron’s TRX tumbled by 15.03% in the week ending 22^nd February. Reversing an 8.30% gain from the previous week, Tron’s TRX ended the week at $0.020045.

Bearish through the week, Tron’s TRX fell from a Sunday intraweek high $0.02467 to a Thursday intraweek low $0.018843.

Steering clear of the resistance levels, Tron’s TRX fell through the first major resistance level at $0.02070.

Finding support late in the week, Tron’s TRX recovered to wrap up the week at $0.020 levels.

5-days in the red out of 7 that included a 10.50% slide on Wednesday did the damage, however.

For the week ahead

Tron’s TRX would need to move back through to $0.02120 levels to support a run at the first major resistance level at $0.02350.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0230 levels.

In the event of a broad-based crypto rally, the second major resistance level at $0.02700 would likely limit any upside.

Failure to move through to $0.02120 could see Tron’s TRX hit reverse.

A fall back through to sub-$0.020 levels would bring the first major support level at $0.01770 into play before any recovery.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.017 levels and second major support level at $0.0154.

At the time of writing, Tron’s TRX was up by 3.57% to $0.02076. A bullish start to the week saw Tron’s TRX rise from an early morning low $0.020093 to a high $0.020867.

Tron’s TRX left the major support and resistance levels untested early on.

February 20, 2020

The Crypto Daily – Movers and Shakers – 20/02/20

Bitcoin slid by 5.81% on Wednesday. Reversing a 4.86% rally from Tuesday, Bitcoin ended the day at $9,592.3.

It was a mixed start to the day. Bitcoin recovered from a mid-morning low $10,032.00 to strike a late afternoon intraday high $10,310.00, before hitting reverse.

Falling well short of the first major resistance level at $10,426.70, Bitcoin tumbled to a late intraday low $9,290.00.

Bitcoin fell through the first major support level at $9,789.6 and the second major support level at $9,395.2.

Holding above the 38.2% FIB of $9,260, Bitcoin recovered to $9,600 levels before falling back to sub-$9,600 levels.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, with Bitcoin struggling to break out from $10,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Tezos bucked the trend on the day, rising by 3.22%.

It was a particularly bearish day for the rest of the majors, however.

EOS led the way down, sliding by 13.48%, with Tron’s TRX (-10.27%) and Monero’s XMR (-9.69%) close behind.

Binance Coin (-7.21%), Bitcoin Cash ABC (-8.57%), Bitcoin Cash SV (-8.08%), Cardano’s ADA (-8.89%), Ethereum (8.71%), Litecoin (-8.65%), Ripple’s XRP (-8.01%), and Stellar’s Lumen (-8.04%) also saw the deep red.

Through the start of the week, the crypto total market cap fell to a low $273.33bn before hitting a Tuesday high $297.09bn. Wednesday’s sell-off saw the total market cap fall back to $279bn levels. At the time of writing, the total market cap stood at $279.22bn.

Bitcoin’s dominance picked up on Wednesday, following Bitcoin’s more modest loss on Wednesday. At the time of writing, Bitcoin’s dominance stood at 62.8%, up from a current week low 62.02% on the day.

Trading volumes eased further back from $196bn levels seen on Monday to sub-$160bn levels on Wednesday. At the time of writing, 24-hr volumes stood at $162.20bn.

This Morning

At the time of writing, Bitcoin was up by 0.45% to $9,635.1. A mixed start to the day saw Bitcoin fall to an early morning low $9,571.1 before rising to a high $9,640.9.

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

Elsewhere, it was a bullish start to the day. Stellar’s Lumen and Tezos were up by 2.27% and 2.74% to lead the way.

Tron’s TRX trailed the pack, rising by just 0.03%.

For the Bitcoin Day Ahead

Bitcoin would need to move through to $9,730 levels to bring the first major resistance level at $10,171.53 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $10,000 levels.

Barring a broad-based crypto rebound, resistance at $10,000 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, Bitcoin could revisit $10,300 levels before any pullback.

Failure to move through to $9,730 levels could see Bitcoin fall back into the red.

A fall through the morning low $9,571.1 to sub-$9,400 levels would bring the first major support level at $9,151.53 into play.

Barring an extended crypto sell-off, however, the 38.2% FIB of $9,260 should limit any downside on the day.

February 19, 2020

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 19/02/20

Binance Coin Price Resistance

It’s been a mixed 1^st half of the week for Binance Coin, which saw 2 days in the green out of 3.

Binance Coin fell from a Sunday high $25.27 to a Monday current week low $21.30.

The reversal saw Binance Coin fall through the 38.2% FIB of $22.90 and the first major support level at $21.48.

Finding support on Monday and Tuesday, Binance Coin managed to move back through the first major support level and 38.2% FIB to wrap up the day at $23 levels.

The 2^nd day in the green, saw Binance Coin fall back through the 38.2% FIB before rebounding to a current week high $25.28.

Binance Coin broke back through the 38.2% FIB to hit $25 levels for a 2^nd time before easing back.

In the early part of the week, Binance Coin left the major resistance levels untested, however.

For the current week, Binance Coin was down by 0.54 % to $24.13, Sunday through to Tuesday. A 3.68% slide from Sunday left Binance Coin in the red.

The near-term bearish trend remained intact, however, supported by the late 2019 reversal and December’s swing lo $12.11.

It’s been a bullish start to the year, however, with Binance Coin up by 99.3% from December’s swing lo.

For the bulls, Binance Coin would need to break through the 62% FIB of $29.5 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.5% to $24.01.

For the remainder of the week

Binance Coin would need to break back through to $24.50 levels to support a run at the first major resistance level at $27.25.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $25.28.

Barring an extended rally going into the weekend, the first major resistance level at $27.25 and last week high $27.51 would likely cap any upside.

In the event of an extended rally, Binance Coin could eye $30 levels. The second major resistance level at $30.26 should cap any upside.

Failure to break back through to $24.50 levels could see Binance Coin fall deeper into the red.

A pullback through the 38.2% FIB of $22.9 would bring the first major support level at $21.48 back into play.

Barring a crypto meltdown, however, Binance Coin should steer clear of sub-$20 levels.

Looking at the Technical Indicators

Major Support Level: $21.48

Major Resistance Level: $27.25

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5

February 18, 2020

The Crypto Daily – Movers and Shakers – 18/02/20

Bitcoin fell by 2.19% on Monday. Reversing a 0.26% gain from Sunday, Bitcoin ended the day at $9,708.00.

A bearish start to the day saw Bitcoin slide from an early morning intraday high $9,969.2 to an early afternoon intraday low $9,501.5.

Steering clear of the major resistance levels, Bitcoin fell through the first major support level at $9,706.40.

Finding support in the late afternoon, Bitcoin wrapped up the day at $9,700 levels, following a final hour recovery from sub-$9,700 levels.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, with Bitcoin struggling to break out from $10,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Binance Coin (+0.34%), Bitcoin Cash SV (+9.01%), and Ethereum (+3.65%) bucked the trend on the day.

It was bearish for the rest of the pack at the start of the week.

Cardano’s ADA (-2.15%), Monero’s XMR (-7.12%), Stellar’s Lumen (-2.93%), Tezos (-2.69%), and Tron’s TRX (-2.21%) saw the heaviest losses on the day.

Bitcoin Cash ABC (-1.61%), Litecoin (-1.63%), and Ripple’s XRP (-1.85%) also struggled, while EOS fell by just 0.68%.

Through the start of the week, the crypto total market cap fell from a Monday high $288.36bn to a low $273.33bn before support kicked in. At the time of writing, the total market cap stood at $283bn.

Bitcoin’s dominance fell back to 62% levels at the start of the week, with Bitcoin taking a hit on Monday. At the time of writing, Bitcoin’s dominance stood at 62.3%.

Trading volumes picked up, rising from sub-$180bn to $196bn levels on Monday. At the time of writing, 24-hr volumes stood at $180.75bn.

This Morning

At the time of writing, Bitcoin was down by 0.31% to $9,677.8. A bearish start to the day saw Bitcoin fall from an early morning high $9,725.0 to a low $9,669.1.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash ABC (+0.21%) and Stellar’s Lumen (+0.68%) bucked the trend early on.

It was a bearish start to the day for the rest of the majors, however.

Binance Coin (-1.74%), Bitcoin Cash SV (-1.05%), Ethereum (-1.10%), Ripple’s XRP (-1.03%) led the way down early on.

For the Bitcoin Day Ahead

Bitcoin would need to move through to $9,726 levels to bring the first major resistance level at $9,950.97 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,900 levels.

Barring a broad-based crypto rebound, resistance at $9,900 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, $10,000 levels could come back into play before any pullback. We would expect Bitcoin to fall well short of the second major support level at $10,193.93, however.

Failure to move through to $9,726 levels could see Bitcoin fall deeper into the red.

A fall back through Monday’s low $9,501.5 would bring the first major support level at $9,483.27 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the sub-$9,400 levels on the day.

February 17, 2020

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 17/02/20

Binance Coin

Binance Coin rallied by 11.04% in the week ending 15^th February. Following on from a 19.45% surge from the previous week, Binance Coin ended the week at $24.23.

A bullish start to the week saw Binance Coin rally from a Sunday intraweek low $21.74 to a Thursday intraweek high $27.51.

Binance Coin broke through the first major resistance level at $23.74 and second major resistance level at $25.69. Of greater significance, however, was a breakthrough the 38.2% FIB of $22.90.

At the start of the week, Binance Coin had steered clear of the first major support level at $18.76.

Following 4 consecutive days in the green that included an 11.93% rally, Binance Coin came under pressure.

2 days in the red out of 3, which included an 8.24% slide on Saturday saw Binance Coin fall back through the second major resistance level.

At the time of writing, Binance Coin was down by 7.54% for the current week. A 3.68% fall on Sunday and a 3.94% fall in the early part of Monday left Binance Coin in the deep red.

The bearish start to the week saw Binance Coin fall through the 38.2% FIB of $22.90 to a current week low $21.69 on Sunday.

Binance Coin left the major support and resistance levels untested early on in the week.

For the week ahead

Binance Coin would need to break through to $24.50 levels to bring the first major resistance level at $27.25 into play.

Support from the broader market would be needed for Binance Coin to break back through the 38.2% FIB of $22.8 to hit $24 levels.

Barring a broad-based crypto rally, resistance at $25 would likely limit the upside in the week.

In the event of a breakout, the first major resistance level at $27.25 and last week’s high $27.51 would likely pin Binance Coin back.

Failure to move back through the 38.2% FIB to $24.50 levels could see Binance Coin fall deeper into the red.

A fall back to sub-$22 levels would bring the first major support level at $21.45 into play

Barring a crypto meltdown, however, Binance Coin should steer clear of sub-$20 levels.

Litecoin

Litecoin rose by just 0.1% in the week ending 15^th February. Following on from an 8.46% rally from the previous week, Litecoin ended the week at $76.66.

A mixed start to the week saw Litecoin fall to a Tuesday intraweek low $72.46 before finding support.

While steering clear of the first major support level at $69.48, Litecoin fell through the 38.2% FIB of $78.

Through the middle of the week, Litecoin bounced back to a Thursday intraweek high $84.50 before sliding back.

Litecoin moved back through the 38.2% FIB to break through the first major resistance level at $80.89.

A bearish end to the week reversed the gains, however, with a 7.89% slide on Saturday leaving Litecoin flat.

The sell-off saw Litecoin fall back through the first major resistance level and 38.2% FIB.

At the time of writing, Litecoin was down by 6.49% to $71.78 for the current week. A bearish start to the week saw Litecoin slide from a current week high $80.80 to a low $67.28 before finding support.

Steering clear of the major resistance levels, Litecoin fell through the 38.2% FIB of $78 and the first major support level at $71.30.

For the week ahead

Litecoin would need to move through to $78 levels to support a run at the first major resistance level at $83.34.

Support from the broader market would be needed for Litecoin to break back out from the current week high $80.80.

Barring a broad-based crypto rebound, however, the 38.2% FIB and resistance at $80 would likely pin Litecoin back in the week.

In the event of a rebound, last week’s high $84.50 and first major resistance level would likely cap any upside.

Failure to move back through to $78 levels could see Litecoin fall deeper into the red.

A fall back through the first major support level at $71.30 to the current week low $67.28 would bring the second major support level at $65.86 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$65 levels in the week.

Tron’s TRX

Tron’s TRX rose by 8.30% in the week ending 15^th February. Following on from a 14.25% rally from the previous week, Tron’s TRX ended the week at $0.023615.

Bullish through most of the week, Tron’s TRX rose from a Monday intraweek low $0.020787 to a Friday intraweek high 0.02680.

Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.0242 and second major resistance level at $0.02670.

Following 6 consecutive days in the green, a 10.44% slide on Saturday, led to a fall back through the major resistance levels.

At the time of writing, Tron’s TRX was down by 10.74% to $0.021058. A bearish start to the week saw Tron’s TRX slide from a current week high 0.024670 to a low $0.020258.

Tron’s TRX fell through the first major support level at $0.02070 on Sunday before finding support.

For the week ahead

Tron’s TRX would need to move back through to $0.0237 levels to support a run at the first major resistance level at $0.02670.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0230 levels.

In the event of a broad-based crypto rebound, the first major resistance level at $0.02670 and last week’s high $0.0268 would likely limit any upside.

Failure to move through to $0.02370 could see Tron’s TRX fall deeper into the red.

A fall back through the first major support level at $0.02070 would bring sub-$0.020 levels into play before any recovery.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.0177.

February 13, 2020

The Crypto Daily – Movers and Shakers – 13/02/20

Bitcoin rose by 0.89% on Wednesday. Following on from a 4.01% rally on Tuesday, Bitcoin ended the day at $10,338.0.

A relatively bullish start to the day saw Bitcoin rise to mid-morning intraday high $10,460.0 before easing back.

Bitcoin came up against the first major resistance level at $10,468.67 before falling to a late morning intraday low $10,238.0.

Steering clear of the first major support level at $9,872.67, Bitcoin broke back through to $10,400 levels before a 2^nd pullback to sub-$10,300 levels.

Late in the day, a 3^rd attempt at a breakout from $10,400 also failed. Bitcoin fell back to wrap up the day at $10,300 levels.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, however, in spite of the upward trend.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Tezos led the way once more, rallying by 13.21% off the back of Tuesday’s 11.47% rally.

Cardano’s ADA (+7.60%), Ethereum (+11.98%), Ripple’s XRP (8.26%), and Stellar’s Lumen (+7.96%) also made solid gains.

Binance Coin (+2.56%), Bitcoin Cash ABC (+2.43%), EOS (+1.47%), Litecoin (+5.94%), and Monero’s XMR (+5.92%) saw more modest gains.

Bitcoin Cash SV bucked the trend on the day, falling by 0.17%.

Through the early part of the week, the crypto total market cap fell to a Tuesday low $279.65bn before rising to an early Wednesday high $304.86bn. At the time of writing, the total market cap stood at $303.41bn.

Bitcoin’s dominance slipped further back from 63.3% to 62.0% at the time of writing.

Trading volumes picked up, rising to $165bn levels on Wednesday. At the time of writing, 24-hr volumes stood at $165.46bn.

This Morning

At the time of writing, Bitcoin was up by 0.13% to $10,351.0. A mixed start to the day saw Bitcoin rise from an early morning low $10,327.0 to a high $10,361.0 before easing back.

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

Elsewhere, it was a mixed start to the day.

Tezos and Bitcoin Cash SV saw red early on, with losses of 0.87% and 0.48% respectively.

It was bullish for the rest of the pack. Binance Coin and Ethereum were up by 1.43% and 1.35% respectively to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the morning high $10,361 to bring the first major resistance level at $10,452.67 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $10,400 levels.

Barring another broad-based crypto rally, the first major resistance level at $10,452.67 would likely leave Bitcoin short of $10,500 levels.

In the event of another breakout, Bitcoin would eye a breakout from the second major resistance level at $10,567.33.

Failure to move back through to $10,400 levels could see Bitcoin hit reverse

A fall back through to sub-$10,345 levels would bring the first major support level at $10,230.67 into play.

Barring a crypto sell-off, however, Bitcoin should steer clear of the sub-$10,200 levels on the day.

February 12, 2020

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 12/02/20

Binance Coin Price Resistance

It’s been a particularly bullish 1^st half of the week for Binance Coin, which saw 3 consecutive days in the green.

Rallying from an early Sunday current week low $21.74, Binance Coin struck a Tuesday current week high $26.69 before easing back.

Steering clear of the major support levels, Binance Coin broke through the first major resistance level at $23.74 and second major resistance level at $25.69.

Of greater significance, however, was a breakthrough the 38.2% FIB of $22.90.

For the current week, Binance Coin was up by 18.29%, Sunday through to Tuesday.

An 11.9% rally on Sunday delivered the lion’s share of the gains. Support came from 3% and 2.5% gains on Monday and Tuesday.

The near-term bearish trend remained intact, however, supported by the late 2019 reversal and December’s swing lo $12.11.

It’s been a bullish start to the year, however, with Binance Coin up by 113% from December’s swing lo.

For the bulls, Binance Coin would need to break through the 62% FIB of $29.5 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.64% to $25.65. It was a bearish start to the day on Wednesday. Binance Coin fell from an early morning high $26.09 to a low $25.41 early on.

The pullback saw Binance Coin fall back through the second major resistance level at $25.69.

For the remainder of the week

Binance Coin would need to break back through the second major resistance level at $25.69 to support a run at the 62% FIB of $29.5.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $26.69.

Barring an extended rally going into the weekend, resistance at $27 would likely cap any upside.

In the event of an extended rally, the 38.2% FIB of $29.5 could come into play late in the week.

Failure to break back through the second major resistance level could see Binance Coin hit reverse.

A pullback through the first major resistance level at $23.74 to sub-$20.70 levels would be needed, however, to bring the first major support level at $18.76 into play.

Barring a crypto meltdown, however, Binance Coin should steer well clear of sub-$20 levels.

Looking at the Technical Indicators

Major Support Level: $18.76

Major Resistance Level: $23.74

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5