Mate Cser on July 28th, 2017.
The major cryptocurrencies are strongly diverging before the weekend, with Bitcoin regaining its dominance concerning capitalization (back above 50% of the total market) while Ethereum and the ecosystem built on is lagging, ever since the BIP 91 consensus. BTC showed strength during this week’s correction, and it recovered most of its...
Mate Cser on July 27th, 2017.
The cryptocurrency market experienced very choppy conditions yesterday, as several waves of selling hit BTC and the broader market amid a string of bad news. The price of the most valuable coin held up over the critical $2450 support amid the bearish sentiment, but it failed to recover above the primary resistance at $2600 so far....
Mate Cser on July 26th, 2017.
The major coins are still in short-term correction mode after last week’s strong rally, as BTC dipped by more than 10% off its highs. The most valuable coin dipped below $2450 but rebounded of the strong support zone near that level, while the short-term MACD indicator is headed towards oversold territory already. With the long-term...
Mate Cser on July 25th, 2017.
The major cryptocurrencies are having a very quiet week so far, despite today’s brief spike lower, as the recent strong rally ran out of steam somewhat, with the two most valuable coins running into resistance and entering a consolidation period. The rest of the market is mixed, with some of the currencies, especially Dash, Monero,...
Mate Cser on July 24th, 2017.
The major coins are in a low-volatility consolidation phase, as they have been trading all weekend long. The strong rally of last week reached short-term overbought territory, as Bitcoin got close to its all-time high near the $3000 level. The most valuable coin is still showing strength holding well above primary resistance, which is...
Mate Cser on July 22nd, 2017.
The cryptocurrency market went from hell to heaven in a matter of days, as the long-term correction that started in mid-June ended with a bang last Sunday. The liquidation-fueled final leg lower in Ethereum took the majors deeply into oversold territory, and this week was all about upside momentum adn rising prices. That said, some of...
Mate Cser on July 21st, 2017.
The most valuable coin is still leading the way higher, after breaking out of its one-month long correction that took BTC 40% lower. The scaling debate has been resolved by a much-needed, but still debated consensus regarding the BIP 91 protocol, propelling Bitcoin towards its all-time highs. The currency that has been pushed lower by...
Mate Cser on July 20th, 2017.
The major coins experienced a swift and deep correction after rallying hard on the first two days of the week, with Ethereum dipping below $200 after almost doubling to reach $250 previously. The correction was likely triggered by a security breach in the Parity Wallet that resulted in more than $30 million worth of ETH being stolen....
Mate Cser on July 19th, 2017.
The major coins all rallied strongly in late trading on Tuesday, with Ethereum leading the way higher after surging past the $200 level and getting close to $250. The oversold long-term picture together with the positive news regarding Bitcoin’s scaling issues gave a huge boost to the whole market, as the weekend panic seems like a bad...
Mate Cser on July 18th, 2017.
The major cryptocurrencies got bought aggressively following the weekend liquidation, and the most valuable coins rallied back above their prior high, giving the first confirmation of a possible long-term trend change. Bitcoin surged past $2150 and hit the key $2250 level, with the timing of the previous being almost perfectly in line...
Mate Cser on July 17th, 2017.
Ethereum recovered well after the Sunday morning crash that took the coin down to the $135 price level, with Bitcoin also bouncing higher, and the other majors following the two dominant currencies as well. ETH’s 20% rally means that the token is just below the previous low, at $172, which triggered the sell-off and liquidation during...
Mate Cser on July 16th, 2017.
The crazy crypto weekend continued Saturday night as Etherum broke below its recent low, triggering another huge wave of selling and forced liquidations as margin calls got initiated after the deep correction. The cryptocurrency dragged the whole market lower amid, with all the majors falling strongly, but lots of small cap coins held up...
Mate Cser on July 15th, 2017.
The crypto-correction continues in earnest this weekend, with Bitcoin leading the way lower this time around, “catching up” with our previous roadmap for the correction. The most valuable coin is testing the developing long-term base formation after spiking below the $2000 level earlier on today. BTC/USD Daily Chart Analysis The other...
Mate Cser on July 14th, 2017.
The crypto-market experienced another short-term sell-off yesterday, but the major coins all managed to hold above their prior lows, as the downside momentum weakened and the small cap coins also stopped hitting new lows. While a trend change is not yet confirmed, the long-term picture continues to be encouraging, and the market could be...
Mate Cser on July 12th, 2017.
The major coins bounced back from yesterday’s decline and although the rise in Bitcoin and Ethereum is muted, some of the most valuable cryptocurrencies are showing positive divergence. The selling pressure that dominated the recent month during the correction has weakened recently, and the small cap crash of the weekend might have...
Mate Cser on July 11th, 2017.
The major coins are all in the red today, with Ethereum and small cap coins leading the way lower, and Bitcoin and Litecoin outperforming the market considerably. To put the current move into perspective, Ethereum and Bitcoin first reached the current price at the end of May, and the ETH token is still trading 20 times higher than its...
Mate Cser on July 10th, 2017.
The major coins are still trading without strong momentum, as the lengthy correction remains intact for both Bitcoin and Ethereum. Ripple is in an even longer sideways trading pattern, while Litecoin and Dash are in a short-term correction after hitting new highs last week. Ethereum Classic, which moved together with smaller coins during...
Mate Cser on July 8th, 2017.
It was a long and frustrating week for most cryptocurrency traders as the correction in the two main coins, Bitcoin and Ethereum continued, with a long low-volatility drift that was followed by a decline on Friday. To put the week in perspective, the long-term charts are basically unchanged, even as the short-term moves are being...
Mate Cser on July 7th, 2017.
The most valuable coins are still trading in very narrow ranges today, as last week’s correction still dominates the market, although the low volatility environment more resembles a continuation pattern than a pause before another leg lower. “Never short a dull market” is an old but reliable truth of trading, and the long-term charts...
Mate Cser on July 5th, 2017.
The major coins dipped lower after a promising start on Tuesday, as momentum remained weak in the low volume environment. Litecoin hit a new high in early trading, while NEM and Dash were also relatively strong, with Ethereum still being stuck below $300 and Bitcoin trading near the $2600 level throughout the week. Today’s session might...