July 2020 - Coinz EN

July 29, 2020

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 29/07/20

Binance Coin Price Resistance

It’s been yet another mixed but bullish 1^st half of the week for Binance Coin.

Binance Coin saw red on Sunday, falling by 1.38% before 2 consecutive days in the green on Monday and Tuesday.

Binance Coin rose to a Sunday current week high 20.91 before hitting reverse.

Falling short of the first major resistance level at $21.16, Binance Coin slid to a Monday current week low $18.03.

Steering clear of the first major support level at $17.68, Binance Coin bounced back to $20 levels.

While leaving the major support and resistance levels untested, Binance Coin broke through the 38.2% FIB of $19.40.

For the current week, Sunday through Tuesday, Binance Coin was up by 2.02% to $20.24. Two days in the green, that included a 2.33% rally on Tuesday delivered the upside. The 1.38% fall on Sunday limited the upside, however.

The near-term bearish trend remained intact, supported by the late 2019 reversal and mid-March’s swing lo $6.42.

It’s had been a bullish start to the year before the reversal. Having been up by as much as 101% year-to-date, Binance Coin was up by 48.28% year-to-date.

For the bulls, Binance Coin would need to break through the 62% FIB of $27.3 to form a near-term bullish trend.

At the time of writing, Binance Coin was up by 0.04% to $20.24. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $20.51 before falling to a low $19.94.

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

For the remainder of the week

Binance Coin would need to avoid a fall back through the $19 pivot to support a run at the first major resistance level at $21.16.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $20.77.

Barring an extended crypto rally, the first major resistance level at $21.16 would likely continue to limit any upside.

In the event of another breakout, the second major resistance level at $22.46 would likely come into play.

Failure to avoid a fall back through to the pivot level at $19 would bring the first major support level at $17.68 into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid sub-$19 levels.

The 38.2% FIB of $19.40 should limit the downside in the week.

Looking at the Technical Indicators

Major Support Level: $17.68

Major Resistance Level: $21.16

23.6% FIB Retracement Level: $14.4

38.2% FIB Retracement Level: $19.4

62% FIB Retracement Level: $27.3

July 28, 2020

The Crypto Daily – Movers and Shakers – July 28th, 2020

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

Bitcoin, BTC to USD, rallied by 11.01% on Monday. Following on from a 2.40% gain on Sunday, Bitcoin ended the day at $11,044.

It was bullish day, with Bitcoin rallying from an early morning intraday low $9,944.9 to a late intraday high $11,379.0.

Bitcoin broke through the day’s major resistance levels before falling back to sub-$10,800 levels.

The pullback saw Bitcoin fall back through the third major resistance level at $10,968.13 before finding support.

Finding late support, however, Bitcoin broke back through the third major resistance level to end the day at $11,000 levels.

The near-term bullish trend remained intact, supported by the latest run at $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Monday.

Cardano’s ADA (-6.64%), Stellar’s Lumen (-4.75%), and Tezos (-5.30%) saw heavy losses on the day.

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

Bitcoin Cash ABC (+7.64%), Bitcoin Cash SV (+8.38%), and Litecoin (+10.91%) led the way.

Binance Coin (+1.02%), EOS (+5.07%), Ethereum (+3.47%), Monero’s XMR (+0.52%), Ripple’s XRP (+4.33%), and Tron’s TRX (+0.93%) trailed the front runners.

At the start of the week, the crypto total market cap rose from a Monday low $285.49bn to a high $335.80bn. At the time of writing, the total market cap stood at $319.54bn.

Bitcoin’s dominance rose from a Monday low 62.43% to a Monday high 64.85% before easing back. At the time of writing, Bitcoin’s dominance stood at 64.41%.

This Morning

At the time of writing, Bitcoin was up by 1.08% to $11,162.9. A bullish start to the day saw Bitcoin rise from an early morning low $11,044.0 to a high $11.263.0.

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

Elsewhere, Cardano’s ADA continued to buck the trend. At the time of writing, Cardano’s ADA was down by 0.95%.

It was a bullish start to the day for the rest of the majors, however, with Binance Coin up by 2.15% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,789 pivot to support a run at the first major resistance level at $11,634.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $11,379.

Barring another extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,223.

Failure to avoid a fall through the $10,789 pivot level would bring the first major support level at $10,200 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of the first major support level at $10,200.

July 26, 2020

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 26/07/20

Binance Coin

Binance Coin rallied by 15.73% in the week ending 25^th July. Reversing a 2.61% fall from the previous week, Binance Coin ended the week at $19.86.

It was a mixed start to the week. Binance Coin fell to a Sunday intraweek low $16.80 before making a move.

Steering clear of the first major support level at $16.06, Binance Coin rallied to a Saturday intraweek high $20.28

Binance Coin broke through the first major resistance level at $18.66 and the second major resistance level at $20.16.

More importantly, Binance Coin broke out from the 38.2% FIB of $19.40 to visit $20 levels for the first time since March.

A late Saturday pullback saw Binance Coin fall back through the second major resistance level to wrap up the week at $19 levels.

6 days in the green that included a 5% rally last Sunday delivered the upside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $18.98 pivot to bring the first major resistance level at $21.16 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $20.28

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside.

In the event of a breakout, Binance Coin could take a run at $22 levels. The second major resistance level at $22.46 would limit any upside.

Failure to avoid a fall through the $18.98 pivot would bring the first major support level at $17.68 into play.

Barring a crypto sell-off, Binance Coin should avoid sub-$17 levels and the second major support level at $15.50.

At the time of writing, Binance Coin was down 0.68% to $19.72. A bearish start to the week saw Binance Coin fall from an early Sunday high $19.85 to a low $19.55.

Binance Coin left the major support and resistance levels untested at the start of the week.

Litecoin

Litecoin rallied by 17.52% in the week ending 25^th July. Reversing a 5.10% slide from the previous week, Litecoin ended the week at $49.23.

It was a mixed start to the week. Litecoin fell to a Monday intraweek low $41.45 before making a move.

Steering clear of the first major support level at $40.36, Litecoin rallied to a Saturday intraweek high $49.64.

Litecoin broke through the first major resistance level at $45.05 and the second major resistance level at $47.65.

4 days in the green that included an 11.48% rally on Saturday delivered the upside for the week.

For the week ahead

Litecoin would need to avoid a fall through the $46.77 pivot to support a run at the first major resistance level at $52.10.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $49.64.

Barring another extended crypto rally, the first major resistance level at $52.10 would likely cap any upside.

Failure to avoid a fall through the $46.77 pivot could see Litecoin come under further pressure.

A fall through to sub-$46 levels would bring the first major support level at $43.91 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of sub-$40 levels. The second major support level sits at $38.58.

At the time of writing, Litecoin was down by 0.59% to $48.94. A bearish start to the week saw Litecoin fall from an early Sunday morning high $49.25 to a low $48.51.

Litecoin left the major support and resistance levels untested at the start of the week.

Tron’s TRX

Tron’s TRX rose by 7.75% in the week ending 25^th July. Reversing a 5.05% slide from the previous week, Tron’s TRX ended the week at $0.018794.

It was also a mixed start to the week. Tron’s TRX fell to a Monday intraweek low $0.016951 before making a move.

Steering clear of the first support level at $0.01660, Tron’s TRX rallied to a Saturday intraweek high $0.018852.

Tron’s TRX broke through the first major resistance level at $0.01840 to test resistance at $0.019.

5 days in the green that included a 4.67% rally on Saturday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.01820 pivot to support a run at the first major resistance level at $0.01945.

Support from the broader market would be needed, however, for Tron’s TRX to break through to $0.019 levels.

Barring another broad-based crypto rally the first major resistance level would likely cap any upside.

In the event of a breakout, Tron’s TRX could test the second major resistance level at $0.02010 before any pullback.

Failure to avoid a fall through the $0.01820 pivot would bring the first major support level at $.01755 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should avoid sub-$0.017 levels. The second major support level sits at $0.01630.

At the time of writing, Tron’s TRX was down by 0.43% to $0.018713. A bearish start to the week saw Tron’s TRX fall from an early Sunday morning high $0.018905 to a low $0.018653.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

July 23, 2020

The Crypto Daily – Movers and Shakers – July 23rd, 2020

Bitcoin, BTC to USD, rose by 1.65% on Wednesday. Following on from a 2.43% rally on Tuesday, Bitcoin ended the day at $9,557.7.

It was a bearish start to the day. Bitcoin fell to a mid-morning intraday low $9,305.0 before making a move.

Steering clear of the first major support level at $9,231.87, Bitcoin rallied to a late intraday high $9,642.4.

Bitcoin broke through the first major resistance level at $9,514.67 and the second major resistance level at $9,627.33.

A late pullback saw Bitcoin fall through the second major resistance level to wrap up the day at sub-$9,600 levels.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Wednesday.

Ethereum led the way, rallying by 7.53%.

Binance Coin (+2.31%), Bitcoin Cash ABC (+4.79%), Bitcoin Cash SV (+2.35%), Litecoin (+2.83%), Monero’s XMR (+2.58%), Ripple’s XRP (+2.06%), Tezos (+2.98%) and Tron’s TRX (+2.25%) also found strong support.

Cardano’s ADA (+0.68%), EOS (+1.55%), and Stellar’s Lumen (+1.10%), trailed the front runners.

In the current week, the crypto total market cap fell to a Monday low $262.70bn before striking a Wednesday high $280.59bn. At the time of writing, the total market cap stood at $279.16bn.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Wednesday low 62.91. At the time of writing, Bitcoin’s dominance stood at 63.01%.

This Morning

At the time of writing, Bitcoin was down by 0.07% to $9,551.0. A mixed start to the day saw Bitcoin rise to an early morning high $9,560.0 before falling to a low $9,546.1.

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

Elsewhere, it was a mixed start to the day. At the time of writing, Monero’s XMR was down by 0.04% to join Bitcoin in the red.

It was a bullish start to the day for the rest of the majors, however. Stellar’s Lumen was up by 2.03% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,500 pivot to support a run at the first major resistance level at $9,700.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $9,642.4.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,839.1 before any pullback.

Failure to avoid a fall through the $9,500 pivot level would bring the first major support level at $9,361.0 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of the second major resistance level at $9,164.3.

July 22, 2020

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 22/07/20

Binance Coin Price Resistance

It’s been another mixed but bullish 1^st half of the week for Binance Coin.

Binance Coin fell to a Sunday current week low $16.88 before finding support.

Steering clear of the first major support level at $16.06, Binance Coin rallied to a Monday current week high $18.39.

Coming up short of the first major resistance level at $18.66, Binance Coin slid back to sub-$17.20 levels.

A relatively bullish Tuesday, however, supported a move back through to $17.70 levels to deliver the early gains.

For the current week, Sunday through Tuesday, Binance Coin was up by 3.26% to $17.72. Two days in the green, that included a 5.00% rally on Sunday delivered the upside. A 3.05% slide on Monday limited the upside, however.

The near-term bearish trend remained intact, supported by the late 2019 reversal and mid-March’s swing lo $6.42.

It’s had been a bullish start to the year before the reversal. Having been up by as much as 101% year-to-date, Binance Coin was up by 29.82% year-to-date.

For the bulls, Binance Coin would need to break through the 62% FIB of $27.3 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.10% to $17.70. A mixed start to the day on Wednesday saw Binance Coin fall to an early morning low $17.63 before rising to a high $17.87.

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

For the remainder of the week

Binance Coin would need to avoid a fall back through the $17.56 pivot to support a run at the first major resistance level at $18.66.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $18.39.

Barring an extended crypto rally, the first major resistance level and resistance at $19 would likely continue to limit any upside.

In the event of another breakout, the 38.2% FIB of $19.4 would likely come into play.

Failure to avoid a fall back through to the pivot level at $17.56 would bring the first major support level at $16.06 into play.

Barring an extended crypto sell-off, however, Binance Coin should continue to avoid sub-$16 levels.

Looking at the Technical Indicators

Major Support Level: $16.06

Major Resistance Level: $18.66

23.6% FIB Retracement Level: $14.4

38.2% FIB Retracement Level: $19.4

62% FIB Retracement Level: $27.3

July 21, 2020

The Crypto Daily – The Movers and Shakers – July 21st, 2020

Bitcoin, BTC to USD, fell by 0.56% on Monday. Reversing a 0.46% gain from Sunday, Bitcoin ended the day at $9,179.2.

It was another mixed start to the day. Bitcoin rose to an early morning intraday high $9,238.2 before hitting reverse.

Falling short of the first major resistance level at $9,316.2, Bitcoin fell to a late morning intraday low $9,154.5.

Steering clear of the first major support level at $9,129.0, Bitcoin revisited $9,200 levels before falling back into the red.

The Rest of the Pack

Across the rest of the majors, it was yet another mixed day on Monday.

Monero’s XMR rose by 0.74% to buck the trend on the day.

It was a bearish day for the rest of the majors.

Tezos, Cardano’s ADA, and Stellar’s Lumen led the way down with losses of 7.33%, 5.20%, and 5.63% respectively.

Binance Coin (-3.05%), Bitcoin Cash ABC (-2.11%), Bitcoin Cash SV (-2.24%), Ripple’s XRP (-2.45%), and Tron’s TRX (-2.24%) also struggled.

EOS (-0.83%), Ethereum (-1.32%), and Litecoin (-1.69%), saw relatively modest losses.

At the start of the week, the crypto total market cap rose to a Monday high $267.96bn before falling to a Monday low $263.85bn. At the time of writing, the total market cap stood at $265.07bn.

Bitcoin’s dominance fell to a Monday low 63.41% before rising to a Monday high 63.94%. At the time of writing, Bitcoin’s dominance stood at 63.78%.

This Morning

At the time of writing, Bitcoin was up by 0.08% to $9,187.0. A mixed start to the day saw Bitcoin fall to an early morning low $9,174.4 before rising to a high $9,187.1.

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

Elsewhere, it was a bullish start to the day. At the time of writing, Tezos was up by 1.31% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $9,191 pivot to support a run at the first major resistance level at $9,227.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,200 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $9,238.2 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,274 before any pullback.

Failure to move through the $9,191 pivot level would bring the first major support level at $9,143 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,000 levels. The third major resistance level at $9,023 should limit any downside.

July 19, 2020

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 19/07/20

Binance Coin

Binance Coin fell by 2.61% in the week ending 18^th July. Partially reversing a 13.23% rally from the previous week, Binance Coin ended the week at $17.16.

It was a bullish start to the week. Binance Coin rallied to a Monday intraweek high $19.06 before hitting reverse.

Binance Coin broke through the first major resistance level at $18.62 to visit $19 levels before hitting reverse.

Falling short of the second major resistance level at $19.62, Binance Coin slid to a Thursday intraweek low $16.46.

Steering clear of the first major support level at $15.85, Binance Coin recovered to $17 levels to limit the weekly loss.

4 consecutive days in the red that included a 2.50% loss on Wednesday and a 2.60% loss on Thursday delivered the downside.

For the week ahead

Binance Coin would need to move through the $17.56 pivot to bring the first major resistance level at $18.66 into play.

Support from the broader market would be needed for Binance Coin to break back through to $18.00 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $19.06 would likely limit any upside.

In the event of a breakout, Binance Coin could break out from the 38.2% FIB of $19.4 to take a run at $20 levels. The second major resistance level at $20.16 would limit any upside.

Failure to move through the $17.56 pivot would bring the first major support level at $16.06 into play.

Barring a crypto sell-off, Binance Coin should avoid sub-$15 levels and the second major support level at $14.96.

At the time of writing, Binance Coin was down by 0.29% to $17.11. A bearish start to the week saw Binance Coin fall from an early Sunday high $17.20 to a low $17.09.

Binance Coin left the major support and resistance levels untested at the start of the week.

Litecoin

Litecoin slid by 5.10% in the week ending 18^th July. Reversing a 6.17% gain from the previous week, Litecoin ended the week at $42.46.

It was a bearish week for Litecoin. 6 consecutive days saw Litecoin fall to a Thursday intraweek low $40.86.

Steering clear of the first major support level at $40.32, Litecoin found support on Saturday. Litecoin moved back through to $42 levels, with a 1.38% gain on the day cutting the deficit for the week.

From the 6-days in the red, a 2.82% slide on Thursday and a 1.81% loss on Monday delivered the weekly loss.

For the week ahead

Litecoin would need to move through the $42.96 pivot to support a run at the first major resistance level at $45.05.

Support from the broader market would be needed, however, for Litecoin to break out from $44 levels.

Barring another extended crypto rally, the first major resistance level at $45.05 would likely cap any upside.

Failure to move through the $42.96 pivot could see Litecoin come under further pressure.

A fall through to sub-$41 levels would bring the first major support level at $40.36 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $38.27.

At the time of writing, Litecoin was up by 0.21% to $42.55. A bullish start to the week saw Litecoin rise from an early Sunday morning low $42.43 to a high $42.62.

Litecoin left the major support and resistance levels untested at the start of the week.

Tron’s TRX

Tron’s TRX slid by 5.05% in the week ending 18^th July. Partially reversing a 9.24% rally from the previous week, Tron’s TRX ended the week at $0.017439.

It was a bearish start to the week. Tron’s TRX slid from a Sunday intraweek high $0.018526 to a Thursday intraweek low $0.016718.

Falling short of the major resistance levels, Tron’s TRX fell through the first support level at $0.01679 before finding support.

A relatively bullish end to the week saw Tron’s TRX move back through to $0.017 levels to limit the weekly loss.

4 days in the red that included a 3.46% slide on Monday delivered the downside for the week.

For the week ahead

Tron’s TRX would need to move back through the $0.01756 pivot to support a run at the first major resistance level at $0.01840.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.018 levels.

Barring a broad-based crypto rally the first major resistance level and last week’s high $0.018526 would likely cap any upside.

In the event of a breakout, Tron’s TRX could test the second major resistance level at $0.01937 before any pullback.

Failure to move back through the $0.01756 pivot would bring the first major support level at $.01660 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should avoid sub-$0.015 levels. The second major support level at $0.01575 should limit any downside.

At the time of writing, Tron’s TRX was up by 0.36% to $0.017502. A bullish start to the week saw Tron’s TRX rise from an early Sunday morning low $0.017443 to a high $0.017601.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

July 16, 2020

The Crypto Daily – Movers and Shakers – July 16th, 2020

Bitcoin, BTC to USD, fell by 0.58% on Wednesday. Reversing a 0.13% increase from Tuesday, Bitcoin ended the day at $9,210.1.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $9,280.0 before hitting reverse.

Falling short of the first major resistance level at $9,331.47, Bitcoin slid to a late afternoon intraday low $9,179.0.

Steering clear of the first major support level at $9,151.17, Bitcoin revisited $9,240 levels before easing back.

The Rest of the Pack

Across the rest of the majors, it was another mixed day on Wednesday.

Monero’s XMR (+3.99%), Stellar’s Lumen (+2.65%), and Tezos (+8.77%) bucked the trend on the day.

It was a bearish day for the rest of the majors.

Binance Coin slid by 2.54% to lead the way down.

Bitcoin Cash SV (-1.15%), Cardano’s ADA (-1.48%), and Litecoin (-1.32%) also struggled.

Bitcoin Cash ABC (-0.39%), EOS (-0.63%), Ethereum (-0.86 %), Ripple’s XRP (-0.92%), and Tron’s TRX (-0.82%) saw relatively modest losses.

In the current week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Tuesday low $261.61bn. At the time of writing, the total market cap stood at $267.05bn.

Bitcoin’s dominance fell to a Monday low 63.09% before rising to a Tuesday high 64.00%. At the time of writing, Bitcoin’s dominance stood at 63.52%.

This Morning

At the time of writing, Bitcoin was up by 0.04% to $9,214.0. A mixed start to the day saw Bitcoin fall to an early morning low $9,195.0 before rising to a high $9,214.0

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA (+1.19%), Ethereum (+0.08%), Litecoin (+0.07%), Monero’s XMR (+0.76%), Stellar’s Lumen (+0.29%), Tezos (+0.20%), and Tron’s TRX (+0.18%) joined Bitcoin in the green.

It was a bearish start for the rest of the majors.

At the time of writing, Bitcoin Cash SV was down by 0.94% to lead the way down.

Binance Coin (-0.63%), Bitcoin Cash ABC (-0.30%), EOS (-0.38%), and Ripple’s XRP (-0.02%) were also in the red.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $9,223 pivot to support a run at the first major resistance level at $9,267.07.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $9,280.0

Barring an extended crypto rally, the first major resistance level and Wednesday’s high would likely cap any upside.

In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,324.04. Resistance at $9,400 would likely cap any upside.

Failure to move through the $9,223 pivot level would bring the first major support level at $9,166.07 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$9,000 levels. The third major resistance level at $9,021.03 should limit any downside.

July 15, 2020

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 15/07/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin Price Resistance

It’s been a mixed but bullish 1^st half of the week for Binance Coin.

The start of the week was bullish. Binance Coin rallied from a Sunday current week low $17.45 to a Monday current week high $19.06 before seeing red.

Off the back of 2 consecutive days in the green, Binance Coin broke through the first major resistance level at $18.62.

Falling short of the second major resistance level at $19.62, Binance Coin slid back to sub-$17.70 levels on Tuesday.

In spite of the mixed week, Binance Coin steered clear of sub-$16 and the first major support level at $15.85.

For the current week, Sunday through Tuesday, Binance Coin was up by 2.55% to $18.07. Two consecutive days in the green delivered the upside. Binance Coin saw gains of 3.96% and 0.34% on Monday and Tuesday respectively before a 1.72% slide on Tuesday.

The near-term bearish trend remained intact, supported by the late 2019 reversal and mid-March’s swing lo $6.42.

It’s had been a bullish start to the year before the reversal. Having been up by as much as 101% year-to-date, Binance Coin was up by 32.38% year-to-date.

For the bulls, Binance Coin would need to break through the 62% FIB of $27.3 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.21% to $18.03. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $18.16 before falling to a low $17.99.

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

For the remainder of the week

Binance Coin would need to break back through the first major resistance level to support another run at $19 levels.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $19.06.

Barring an extended crypto rally, resistance at $19 would likely continue to limit any upside.

In the event of another breakout, a breakthrough the second major resistance level at $19.62 and 38.2% FIB of $19.4 would be likely.

Failure to move back through to the first major resistance level could see Binance Coin hit reverse.

A pullback through to sub-$17 and the $16.85 pivot would bring the first major support level at $15.85 into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid sub-$16 levels.

Looking at the Technical Indicators

Major Support Level: $15.85

Major Resistance Level: $18.62

23.6% FIB Retracement Level: $14.4

38.2% FIB Retracement Level: $19.4

62% FIB Retracement Level: $27.3

July 14, 2020

The Crypto Daily – Movers and Shakers – July 14th, 2020

Bitcoin, BTC to USD, fell by 0.73% on Monday. Reversing a 0.76%% loss from Sunday, Bitcoin ended the day at $9,252.0.

It was a mixed start to the day. Bitcoin fell to a mid-morning low $9,257.5 before striking a mid-day intraday high $9,350.0.

Falling short of the first major resistance level at $9,397.9, Bitcoin slid to a late intraday low $9,220.0.

Avoiding the first major support level at $9,204.4, Bitcoin briefly revisited $9,270 levels before easing back.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Monday.

Tezos rallied by 2.66% to lead the way. Binance Coin also bucked the trend, rising by 0.38%

It was a bearish end to the week for the rest of the majors.

Stellar’s Lumen and Tron’s TRX led the way down, with losses of 5.15% and 3.46% respectively.

Bitcoin Cash ABC (-2.09%), Bitcoin Cash SV (-2.00%), Cardano’s ADA (-2.15%), and EOS (-2.55%) also struggled on the day.

Ethereum (-1.39%), Litecoin (-1.92%), Monero’s XMR (-0.23%), and Ripple’s XRP (-1.31%) saw more modest losses on the day.

On Monday, the crypto total market cap rose to a Monday high $271.57bn before falling to a low $264.75bn. At the time of writing, the total market cap stood at $266.13bn.

Bitcoin’s dominance fell to a Monday low 63.37% before rising to a high 63.97%. At the time of writing, Bitcoin’s dominance stood at 63.87%.

This Morning

At the time of writing, Bitcoin was down by 0.18% to $9,234.9. A bearish start to the day saw Bitcoin fall from an early morning high $9,252.0 to a low $9,234.6.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Binance Coin and Cardano’s ADA were up by 0.71 and by 0.42% respectively to buck the trend.

It was a bearish start for the rest of the majors.

Tezos was down by 2.90% to lead the way down early on.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $9,274 pivot to support a run at the first major resistance level at $9,328.0.

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

Barring an extended crypto rally, the first major resistance level and Monday’s high $9,350.0 would likely cap any upside.

In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,404.0 before any pullback.

Failure to move through the $9,274 pivot level would bring the first major support level at $9,198.0 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$9,100 levels. The second major resistance level at $9,144.0 should limit any downside.