Long-Term Cryptocurrency Analysis: All Majors Stretched as Ripple Finally Breaks-Out

Although the previous leaders of the rally started to correct or at least consolidate in the wake of the overbought long-term setups, another batch of coins turned exponential, with Litecoin, Ripple, and Ethereum all registering lofty gains this week. Bitcoin, Monero, and Dash have been holding up well, and even drifted to new marginal highs during the period, while Ethereum Classic had a more volatile week, before moving to new highs today.

XRP left the broad trading range that has dominated its market since May, and surged to new all-time highs while almost quadrupling in the process. As the coin was the only major on a long-term buy signal according to our trend model, and the move triggered a sell signal on Thursday, now all of our tracked coins are on sell signals.

Ripple could be in for further short-term gains but long-term investors should reduce their positions after this week’s spike. Support levels are found Major at the prior high near $0.4250 and in the $0.30-$0.32 range.

XRP/USDT, Daily Chart Analysis

IOTA, which has been leading the market higher before is down by more than 30% off its all-time high, but given the exponential move before, an even deeper correction is likely in the coming weeks, and investors should wait until a more favorable setup to add to their positions. Strong support is only found at $3 and $1.5, but potential Fibonacci support is at $2.35.

IOT/USD, Daily Chart Analysis

Let’s see how the long-term charts of the other majors look this weekend.

Bitcoin

BTC/USD, Daily Chart Analysis

BTC is trading on fresh new highs today, but compared to the previous momentum of the rally, the coin is only inching higher, and the long-term indicators are sill flashing red. We still expect a deep correction in the coming period, and we advise investors to wait until oversold readings to enter new positions after the stellar autumn. Primary support is still found near $13,000, with further levels at $11,300, $10,000, $9000, and stronger levels at $8200 and $7700.

Ethereum

ETH/USD, Daily Chart Analysis

Ethereum was helped by the persistent bullish sentiment in the segment and continued its break-out, reaching, and even surpassing the range projection target for the move near $680. The total value of the market climbed above $500 billion thanks in part to the surge in the coin, but now the token joined the ranks of the severely stretched coins, and investors should only keep their core holdings. While short-term gains are still possible, a deeper correction is likely around the corner, with key support levels now found at $575, between $480 and $500, and near the prior all-time high at $400.

Litecoin

LTC/USD, Daily Chart Analysis

Litecoin turned parabolic this week, defying the already stretched momentum readings, and it far surpassed our targets, reaching above the $300 level. We expect a deep correction in LTC, not unlike the one in IOTA after the exponential move, but the short-term uptrend is still intact, and the exact top could still be ahead of us. That said, investors should take a step back and wait for a correction before adding to their holdings, with key support levels found at $125 and $100, and weaker levels at $260 and $170.

Dash

DASH/USD, Daily Chart Analysis

Dash held up very strongly amid the volatile correction, proving its apparent relative strength once again. That said, the coin is clearly overbought, and although we expect it to remain strong in the coming months, a deep correction is likely. Key support levels are still found at just above $600, at $500, $470, and near $410.

Ethereum Classic

ETC/USD, Daily Chart Analysis

Ethereum Classic broke above the prior all-time high today, and it is testing the lower end of the prior trend channel today, despite the extremely overbought long-term momentum readings. While short-term gains are still possible we would stay away from entering new positions here, given the state of the segment and the currency’s market. Key levels are found below the current price at $32, $30, $23, and $18.

Monero

XMR/USD, Daily Chart Analysis

Monero has been hitting marginal new all-time highs this week, but the momentum of the move is suspicious and a bull-trap could be forming as we speak. The steep short-term uptrend is still, but the long-term momentum indicators are off the charts, and a deep correction is very likely in the coming weeks.  Key support levels are still found at $240, $200, $180, and $150.

How to Use These Charts?

As we stressed in our article on Bitcoin: “…not all strategies are binary (either holding an asset or not).There are many long- and short-term investment and trading strategies that can be successful in a roaring bull market like the one that the crypto-coin segment is experiencing, but mixing the time-frames and mixing trading and investing (see our article on the topic) could lead to troubles.”

Here is a reminder of some of the possible strategies once again:

• Buy and hold, without caring about day-to-day (or even month-month) fluctuations
• Buy and hold a core position and add on the major dips; a very powerful strategy
• Buy a certain amount every week or month, and even-out your entry price, without the hassle of timing the market
• Try to catch major turning points to reduce and “re-boost” your position
• Trade short-term movements with stop-losses, targets, and strict risk management (this is trading not investing)”

Featured image from Shutterstock

Disclaimer:  The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins.

from Crypto Currency Online https://cryptocurrencyonline.co/long-term-cryptocurrency-analysis-all-majors-stretched-as-ripple-finally-breaks-out/
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Bitcoin’s Market Cap Surpasses the IMF’s Special Drawing Rights Reserves

Markets and Prices

Twenty-four hours ago the decentralized cryptocurrency bitcoin and its US$300Bn market capitalization just surpassed the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $291Bn).

Also read: Cayman Investment Forum Focuses on Rise of Bitcoin and Failing Dollar

Bitcoin’s Market Valuation Outpaces the IMF’s Special Drawing Rights Reserves

Bitcoin’s value has grown immensely in 2017 outperforming nearly every world currency, stock, and commodity this year. With a global average of over $18,000 per BTC and a $300Bn+ market valuation bitcoin has surpassed the IMF’s international reserve assets ($291Bn). The SDR is comprised of a ‘basket of legal tender’ from five nation-states. The value of the SDR, also known as XDRs, is based off a percentage of Chinese renminbi, U.S. dollar, the Japanese yen, the euro, and the British pound sterling. The SDR was created in 1969 using the Bretton Woods exchange system, and before 1973 it contained the value of 0.8 grams of gold.

The SDR Gains Traction This Year As the U.S. Loses Ground, and Countries Decouple from the USD

The IMF’s Special Drawing Rights market has always been controversial since the day it was introduced. Essentially, the basket of currencies are allocated to countries by the IMF and a nation participating in the exchange market has to have reserves. Many skeptics believe the IMF is creating a “globalist one world currency” so it can continue to keep the central banking system in power. This year has been an interesting year for the SDR, as the reserve has gained in value in comparison to other solitary nation-state currencies. The trend has seen an uptick due to a few nations decoupling from the USD, as the IMF revealed this past summer that America was no longer the top economic powerhouse. These days other countries like Germany, Russia, and China are making monetary moves on their own.

Bitcoin’s Black Swan Event and the Next Transfer of Wealth

However, the citizens of the world, the ones without borders, are riding the lightning growth of a different kind of currency. Bitcoin has become the censorship-resistant black swan economy that’s not issued by a nation state or corporation. In fact, the decentralized currency came from an anonymous creator, and it’s a software made up of digits and code that millions of people trust. Bitcoin has become an internet-infused ‘people’s money,’ and the technology is shifting a lot of wealth into the hands of individuals in a way that’s not been seen since the oil rush back in 1859. Even the International Monetary Fund’s Christine Lagarde says bitcoin will cause “massive disruptions” to the existing financial system.

“In many ways, virtual currencies might just give existing currencies and monetary policy a run for their money. The best response by central bankers is to continue running effective monetary policy, while being open to fresh ideas and new demands, as economies evolve,” explains Lagarde this September. 

The currency was born in 2009 and bitcoin has come along way since 10,000 BTC happened to be traded for two Papa Johns pizzas in 2010. A year later the currency reached parity with the U.S. dollar and rose to thirty dollars during its first “bubble.” The reason it was called a bubble is because, shortly after, markets dipped to a low of $2. For a while, the price remained stable, but slowly rose to $13 in December of 2012. Then in the spring of 2013, the price jumped to $266 and rallied to a high of $1,242 across global exchanges. Again the high didn’t last long as the price took a bearish dive all year after the Mt Gox exchange lost 800,000 BTC, and went bankrupt. That year economic pundits and financial publications called bitcoin the “worst currency of the year.”

Bitcoin’s Value Matures Greatly In 2017

In 2015 bitcoin started gradually rising once again and captured the top performing currency in 2015 and 2016. After the new year and into 2017 bitcoin once again surpassed $1,000 per BTC. It started its phenomenal rise that has stayed consistent every month since then. In March of 2017 bitcoin proponents thought it was a big deal when the decentralized currency surpassed the spot price of one troy ounce of .999 gold. However, bitcoin’s capitalization even today is tiny in comparison to the gold market’s 9 trillion annual valuation. Still, bitcoin is bigger than many of the capitalizations tethered to corporate entities and stocks. For instance, bitcoin’s market cap is larger than Paypal, IBM, Disney, General Electric, McDonalds, and even the global fine arts market.

The decentralized currency bitcoin is bigger than the International Monetary Fund’s SDR reserves.

Bitcoin has also given birth to over a 1,000 clones and has created numerous ways for people to raise wealth. With all of the digital assets and bitcoin’s cap combined, the global value of cryptocurrency assets is currently over a half of a trillion U.S. dollars.  It’s a pretty big deal that a currency that doesn’t have any rulers, and is not issued by the nation states or IMF, is gaining so much traction. Bitcoin’s market cap has surpassed a lot of things and exceeding the SDR reserves created by globalists and bureaucrats is one more milestone for the history books in 2017.

What do you think about bitcoin’s market cap exceeding the IMF’s special drawing rights reserves? Let us know in the comments below.

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Images via Pixabay, Coinbase, IMF SDR, and Twitter @datavetaren.

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from Crypto Currency Online https://cryptocurrencyonline.co/bitcoins-market-cap-surpasses-the-imfs-special-drawing-rights-reserves/
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Trade Recommendation: OMNI/BTC Range Trade

There are many cases when the market goes bearish after generating an all-time high. That’s the case for OMNI/BTC. It posted an all-time high of 0.04824320 on the Poloniex exchange on May 31, 2017. In doing so, it created a massive wick above its body, indicating the presence of sellers at that level. The market tried to sustain its ascent, but it turned bearish after failing to hold support at 0.02 on July 9, 2017. OMNI/BTC is still in a downtrend but there’s an opportunity to make a quick buck.

Technical analysis reveal that the market is currently holding long-term support at 0.0025. Every time the pair hits that support level, it bounces and takes out resistance at 0.010. It also breached resistance at 0.015 on three separate occasions. In addition, RSI is also respecting long-term support level. On top of that, the market is already up 12.23% as of this writing. Indicators are flashing a legitimate bounce.

The strategy is to trade the range. Buy zone is between 0.0025 and 0.005. The target range is from 0.010 to the top end of 0.015. Sell midpoint if selling pressure is high; otherwise, ride until 0.015.

Take note: the market is still in a downtrend, but you can make money by buying low and selling high during the consolidation period.

Weekly OMNI/BTC Chart on Poloniex

As of this writing, OMNI/BTC is trading at 0.00354581 on Poloniex.

Summary of Strategy

Buy: 0.0025 and 0.005

Targets: 0.010 and 0.015

Stop: move below 0.0025

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

from Crypto Currency Online https://cryptocurrencyonline.co/trade-recommendation-omni-btc-range-trade/
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Risks abound with Ethereum and its Application Developers

Ethereum is a public, peer-to-peer network with its own unique digital currency called Ether. It was created by Vitalik Buterin in 2014 and it aimed to be a platform on which smart contracts can be built and executed. The Ethereum blockchain is modeled in a way that would enable it to store different categories of data. The computer programs operating on the Ethereum blockchain accesses and uses this data. These computer programs are called decentralized apps, or “Dapps”.

Figure 1: Understanding Dapps

Applications of Ethereum

Several innovative applications are being developed using the Ethereum blockchain. These are:

1. Improving the quality of web
2. Establishment of virtual web
3. Managing unique identity
4. Shaping business models
5. Micro-blogging
6. Empowering artists
7. Crowdfunding

Risks being faced by Ethereum and its applications

Even though the blockchain technology has earned a significant amount of popularity in recent times, there are several issues that it has been facing:

Infectious licensing:

One of the major issues that application developers face while using Ethereum is that of open-source licensing. Most of these developers do not pay heed to the risks of using open-source software. This particular risk of open-source licensing is unique to Ethereum as it is non-existent in the case of Bitcoin. Utilizations of Ethereum entail a number of business and legal issues. One of the most pivotal issues that an Ethereum based app developer is likely to face is that of the right to own and use Ethereum. The Ethereum Foundation declares that Ethereum is both open-source and free after the definition of the Free Software Foundation. This implies that the application developers will be granted the licenses to operate, copy, distribute and upgrade the software. After this point, however, uncertainty arises. That is because “free” software does not necessarily mean that the software would be free of cost. These restrictions are particularly disruptive and complicated in the case of the business model of Ethereum.

Open source software is divided into two broad categories namely permissive and restrictive. Unlike the permissive licenses which have minimal restrictions imposed on them, the restrictive licenses limit a licensee’s ability to distribute modified versions of the works under commercial or non-open source terms. Restrictive licenses also termed as copyleft licenses or “viral licenses” as these have the potential to “infect” a software product with the terms of the open-source software of the underlying copyleft programs. This leaves a licensee unable to distribute a modified or derivative version of the works. Hence the use of open-source software is laden with risks which need to be mitigated before the licensing any open-source product. The gravest form of risk that may arise out of the use of open source software is that an application developer may put the entire proprietary value of a project in jeopardy.

Conflicting views:

The Ethereum foundation currently uses a wide range of open source licenses, each of which corresponds to different components of Ethereum. The foundation has not yet decided on one definite open-source license which will be used to design the core of the Ethereum in the future. The Ethereum Foundation has stated that the core of Ethereum will be released under the three most liberal licenses namely Mit License, Mozilla Public Licence, and LGPL. However, the latter two are actually weak copyleft licenses. Currently, cpp – Ethereum’s core libraries are licensed under GPL which is a strong copyleft license.  This results in a conflict with the foundation’s indication that the license of the final core of Ethereum has not yet been finalized. The uncertainty regarding the finalization of the licensing scheme poses significant threats to the developers.

Technical risks:

• Grayscale Investments report that there is no guarantee that the Ethereum Foundation’s proof-of-stake model named Casper will match up to the security and scalability level of the verified proof-of-work models.
• Long-term security loopholes and some fundamental flaws are likely to be discovered in its applications.

Resource and cash flow risks:

• The scarcity of funds is likely to be a limitation for Ethereum.
• It has not succeeded in attracting sufficient VC investment.

Competition risks:

• The existing market share and future business prospects of Bitcoin poses a major threat to Ethereum. Bitcoin already has established a strong foothold in China. And then you have NEO.
• The threat of a potential new entrant in the market is another risk that Ethereum faces.

Regulatory risks:

• Governments could restrict the market of cryptocurrencies.
• Governments could demand permission system or provide institutional support to a rival system.
• Governments could intervene in the issuance of assets, initial public offerings or crowd shares.

Barriers to adoption:

• The PR mechanism of Ethereum is inefficient.
• A large section of the general population is not familiar or interested in the concept of Dapps.
• Ethereum still has not earned a place on any major stock listing.

A few other risks are:

• The irreversible transaction of cash makes it a risky venture.
• Ethereum is not accredited to any entity. Hence if somebody loses their Ethereum, the service provider can do nothing to refund him.
• Finally, the size of its customer base determines its valuation. That means, if demand for Ethereum is generated from only a few people and businesses, its valuation will be diminished significantly.
• Ethereum does not have a fixed supply cap. It is more volatile than other currencies as its valuation can move both up or down in a very short span of time. The 24-hour variance of Ether has been reported to be 11 percent.
• A report from Grayscale Investments highlights that there are risks associated with large quantities of ETH being held by entities like the Ethereum foundation and the DAO hacker. The report has also cited issues with the fact that since a concentrated group of developers purchased 72 million of the 89.4 million ETH outstanding during the 2014 pre-sale, any fall in the ETH’s supply rate could result in concerns about the issue of centralization.

There are several risks abound with Ethereum.

from Crypto Currency Online https://cryptocurrencyonline.co/risks-abound-with-ethereum-and-its-application-developers/
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Cryptocurrency Gets Its Own Comedy In “Bitcoin” – the Movie

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Bitcoin is serious business, but not so serious that it can’t afford to laugh at itself. It was inevitable that someone would commission a bitcoin movie sooner or later, and in the event that honor has gone to Christian Cashmir. The little known filmmaker is producing “Bitcoin”, a comedy romp that looks set to tick off every cliche in the book.

Also read: Danish Billionaire Renames the Rungsted Capital Ice Rink to ‘Bitcoin Arena’

Brace Yourselves: Bitcoin Banter is Coming

Bitcoin has had plenty of screen time this year, but has yet to grace the silver screen. News segments and the odd documentary, while attesting to bitcoin’s meteoric rise, lack the glamor of a full-length feature. Christian Cashmir is on a mission to set that right with his forthcoming movie, simply titled Bitcoin. The eponymous flick looks like it’s going for the low hanging fruit and obvious laughs based on what plot points have emerged so far.

Armed with 20 guesses, the average bitcoiner would probably venture that a bitcoin comedy might entail a discovered wallet containing millions of dollars in BTC. That’s the precise premise of the Bitcoin movie, which on paper sounds uncannily like the recent bitcoin episode of The Big Bang Theory, in which a similar plot unfolded.

The promotional poster for “Bitcoin” the movie

The premise might be obvious, but whether the movie soars or flops depends largely on the power of the script and the quality of its cast and director. With enough in-jokes and self-deprecating humor, Bitcoin the movie might get the thumbs up from the community it’s modeled on. Whether mainstream audiences will get the jokes is another matter.

Bitcoin is a Joke

Theo Von: mullet-wearing comedian turned indie movie star

It would be premature to criticize the Bitcoin movie at this stage, even if its story of two down-on-their-luck brothers who try to sell a bitcoin wallet worth $20 million on the black market sounds extremely cliched. Indie producer Lauren Cribb will be assuming the reins and Theo Vonn will be starring. The actor and standup comic will be making his big screen debut – as will filmmaker Christian Cashmir.

“The plan is to start shooting the film in the last week of April in New Mexico,” he told MarketWatch. “But then two weeks ago Bitcoin went up to $19,000 and I thought maybe we should think about going into production faster.”

This is the risk faced by productions that focus on the price of bitcoin rather than what it does. The Big Bang Theory’s bitcoin episode encountered the same problem, quoting 1 BTC as being worth $5,000 on the show. By the time it had aired, that figure had almost doubled.

Cashmir is adamant that the comedy will examine the digital currency from all angles, however, saying:

Our film is an entertaining comedy but it’s also so relevant in terms of explaining what’s going on with money and the disruption of technology. It explores the good and bad side of Bitcoin, how it can impact the future, but we also show the dark side.

The script was written by Brent Craft who previously wrote and directed producer Lauren Cribb’s movie “Lady-Like”, which bears the tagline “Girls will be girls”.

Boys Will Be Boys

Bitcoin the movie will be set in Arizona, where the two brothers at the heart of the tale will uncover their cache of cryptocurrency and then embark on an epic quest to sell it to the highest bidder. Presumably a plot in which they simply cashed it out on Localbitcoins.com at $5,000 a week for life would have been less entertaining. Given that Bitcoin is only an indie flick, it would be premature to assert that it is evidence of bitcoin reaching Hollywood.

Despite its comic slant, the film can lay claim to a degree of authenticity at least: some of its producers profess to have invested in bitcoin, and its actors claim to have an affinity for the virtual currency. In the age of the ICO, what’s surprising is that the filmmakers haven’t plumped for a crowdsale to fund the release. Cashmir and his team are now on a race to get the film released while interest in bitcoin is at a crescendo – and presumably while the valuation of the bitcoin wallet at the heart of it all is still accurate. When the film launches, the bitcoin community will be praying that the comedy caper induces more laughs than facepalms.

Do you think projects like this have the power to benefit bitcoin or to harm it? Let us know in the comments section below.

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Images courtesy of Shutterstock, Wikipedia and LC Entertainment.

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Need to know the price of bitcoin? Check this chart.

from Crypto Currency Online https://cryptocurrencyonline.co/cryptocurrency-gets-its-own-comedy-in-bitcoin-the-movie/
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Bitcoin’s Price Captures a New High Touching $18,000

The price of bitcoin has reached the landmark milestone of $18,000 per BTC across global exchanges after having an incredible run during November and December of 2017. The decentralized currency’s price seems like it will close out with a bang as this year has been one of the most phenomenal growth cycles for bitcoin in years.

Also Read: Parity Calls for Ethereum Hard Fork to Reverse $230 Million Bug

Bitcoin Reaches an All-Time High of $18,000 Per BTC

At approximately 7:15 am EDT on December 16 the price of bitcoin barreled above the $18K zone on the exchange Bitstamp. The price has climbed well over 1000 percent during the course of 2017, and has increased by $8,000 in the last two months. There hasn’t been an asset that has increased in value this much in decades, and most people believe there is nothing in the world quite like bitcoin markets. At $18,000 per BTC, the cryptocurrency now commands a hefty $300Bn market capitalization. Additionally, bitcoin markets have been surging swapping $12-17Bn in global volume every 24-hours for the past two weeks. The top five exchanges trading the most bitcoin today include Bitfinex, Bithumb, GDAX, Okex, and Bittrex.    

The price of bitcoin reaches an all-time high of $18,000 per BTC across global exchanges. Chart data courtesy of Coinmarketcap.com

Bitcoin Dominance Leads by 54 Percent, While the Yen Is Still Pushing the Market Northbound

Japan is still leading the way as the Japanese yen currently captures over 40 percent of the global market. The U.S. dollar has increased its global share quite a bit since the introduction of Cboe’s futures market by commanding 33 percent. The rest of the top five leading currencies trading the most bitcoin include the Korean won, the euro, and Tether (USDT). Additionally, out of the 1,300 digital asset market capitalizations, bitcoin markets are dominating by 54 percent over the past 72 hours.

Futures and Predictions Bolster Spot Market Optimism

Bitcoin markets have been very active for the past few weeks but dipped 20 percent just last weekend. The price saw an uptick at precisely 6 pm EDT on December 10 when Cboe launched its futures markets. Derivative markets have been seeing contract predictions give spot markets a touch of optimism, as derivatives traders have forecasted prices around $18,650 for the first week of January. Additionally, this weekend the largest FX exchange worldwide, CME Group, plans to launch its futures products. Speculators believe these mainstream investment vehicles are injecting confidence into existing BTC spot markets and bitcoin economy.

Cboe’s XBT futures are currently at $18,490 at the time of writing.

Cryptocurrency Proponents Celebrate the Recent Price Highs

The cryptocurrency community is celebrating the $18K mark, and the price of bitcoin has pushed up many other digital assets as well. Although a few of the top five largest crypto-cap tokens reached new highs this week some of them have lost some gains yesterday. Ethereum (ETH) had touched an all-time high a few days ago, and prices are now $705 per ETH. Bitcoin cash (BCH) is up over 6 percent after reaching a 24-hour top of $2,000 per BCH across exchanges. BCH now rests at $1,820 per token. Ripple (XRP) is at an all-time high leading the pack with 50 percent increase this week at $0.79 per XRP. Litecoin (LTC) has gained quite a bit this past week as the currency is hovering at $300 per LTC, and markets are up over 14 percent. 

Overall bitcoin markets are on fire and traders are speculating higher BTC prices into 2018. The introduction of Cboe’s futures seems to have pushed optimism into bitcoin markets and the much larger options exchange CME Group’s bitcoin-based derivatives might give the price a nudge too. 

Where do you see the price of bitcoin and other cryptocurrencies heading from here? Let us know in the comments below.

Disclaimer: Bitcoin price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

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Images via Shutterstock, Cboe, Coinmarketcap and Pixabay. 

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The post Bitcoin’s Price Captures a New High Touching $18,000 appeared first on Bitcoin News.

from Crypto Currency Online https://cryptocurrencyonline.co/bitcoins-price-captures-a-new-high-touching-18000/
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Trade Recommendation: NEM

Bitcoin is at a new all-time high today, although the momentum of today’s move is far below from what we saw recently, and the coin only managed to reach a marginal record high yet again. BTC is now worth $300 billion, and it is still trading right at the short-term trendline, inside a rising wedge pattern that shows a clear momentum divergence.

With the short-term trend still being intact further gains are still possible, but as all the majors are overbought from a long-term perspective, we still advise investors to wait for a better buying opportunity before adding to their holdings. Primary support is still found near $13,000, with further levels at $11,300, $10,000, $9000, and stronger levels at $8200 and $7700.

BTC/USD, 4-Hour Chart Analysis

 XRP entered a volatile short-term correction after its two-day surge after giving a short-term sell signal yesterday, and the coin spiked back towards $0.60 before settling down just below yesterday’s highs. The long-term setup also turned overbought thanks to the almost 300% rally, and now investors should reduce their holdings, even as further gains are still possible. Major support is still found at the prior high near $0.4250 and in the $0.30-$0.32 range.

XRP/USDT, 4-Hour Chart Analysis

from Crypto Currency Online https://cryptocurrencyonline.co/trade-recommendation-nem/
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