Cryptocurrency Analysis

[IFX_Selena]

Technical Analysis of ETH/USD for 27 November 2019

Crypto Industry News:
Bran Cohen, best known as the author of the BitTorrent peer-to-peer (P2P) protocol, expressed his opinion on some of Vitalik Buterin's opinions on the state of cryptocurrency technology.

On November 25, Cohen, also the current CEO of the Chia network, explained in a Twitter thread why he considers many of Vitalik's opinions - expressed in a blog post about so-called "difficult cryptocurrency problems" - to be wrong.

Cohen started with a few pushes on Vitalik's views on Blockchain sharding and scalability, where co-founder Ethereum notes that fully sharded Blockchain was still not visible in action, except for the partially broken Zilliq, which had recently started working.

Cohen wrote that sharding is not the only option to solve Blockchain scalability. He points to networks of payment channels, which according to him are "more attractive" and become "something real".

"What Ethereum proposes for sharding spoils this even more, essentially requiring miners to have all the shards, which ... is not a division, but redefines the" full knot "so that it means less than before," he adds.

Ethereum decided on its ASIC-resistant Ethash algorithm (PoW) at the beginning of 2015, which, according to Vitalik, proved to be extremely effective in ASIC resistance. However, Vitalik's view of ASIC-resistant PoW is that there is a growing consensus that ASIC-resistant algorithms have a limited lifetime and that ASIC-resistance has flaws because they make attacks 51% cheaper.

Cohen seems to agree and calls ASIC PoW resistant both an unreal dream and a bad idea. He claims that a much better idea is to be friendly with ASICs, because "ASIC resistance simply creates greater centralization around production when it inevitably fails."


Technical Market Overview:
After the bounce from a new lower low at the level of $130.72, the ETH/USD pair has been consolidating in a narrow range because the bounce has been capped at the level of $151.37 which is the technical resistance now. Nevertheless, the down move should resume soon and there is no sign of reversal yet. The downside momentum is now increasing and the next target for bears is seen at the level of $120.00.

Weekly Pivot Points:
WR3 - $213.59
WR2 - $198.67
WR1 - $165.68

Weekly Pivot - $151.03
WS1 - $118.96
WS2 - $103.42
WS3 - $72.28


Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.






Performed by Sebastian Seliga
Analytical expert
InstaForex Group © 2007-2019

[IFX_Selena]

Technical Analysis of BTC/USD for 27 November 2019

Crypto Industry News:
The three Red Cross national units - the largest donor of humanitarian aid after the United Nations - support a currency program based on Blockchain technology, aimed at increasing aid delivery and boosting local economies.

According to press publications, the Red Cross associations in Norway, Denmark and Kenya have launched a two-year plan to replace the supply of cash and coupons as part of assistance and development efforts with local currency based on Blockchain.

As noted in the publication, the Red Cross is currently giving away $ 1 billion a year for cash and coupons that are intended to help in case of disasters or to stimulate local economies. It has been found that the new Blockchain program, which has already been tested in some regions of Kenya and Ethiopia, improves trade in poor communities, enabling local users to earn loans created from work, sales or assistance and spend them through the mobile application underlying transactions recorded on Blockchain.

A representative of the Danish Red Cross said the system has similarities to the successful M-Pesa mobile money transfer system in Kenya but does not require users to own the national currency fiat.

The system will be extended to all of Kenya, and in the future, it can be implemented in Malawi, Myanmar, Zimbabwe, Cameroon and Papua New Guinea, with a target of 320,000 users in two years. Paula Gil, a humanitarian consultant in Geneva, said she believes Blockchain technology will revolutionize the delivery of aid and represent the future of the sector.

Grassroots Economics founder Will Ruddick pointed to the low costs needed to run the program, about $ 40,000 a year needed for servers and support in Kenya, as well as an initial $ 1 million for initial funding from Norway and other entities.


Technical Market Overview:
The BTC/USD pair has been consolidation over the past 24h in a narrow range between the levels of $6,986 - $7,234. The market continues the move lower after the corrective cycle is completed. There is no sign of any reversal yet. The nearest technical resistance is seen at the level of $7,234 and the next target for bears is seen at the level of $6,345 and $6,000.

Weekly Pivot Points:
WR3 - $9,581
WR2 - $9,033
WR1 - $7,830

Weekly Pivot - $7,282
WS1 - $6,055
WS2 - $5,531
WS3 - $4,254


Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still down. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.






Performed by Sebastian Seliga
Analytical expert
InstaForex Group © 2007-2019

[IFX_Selena]

BTC 11.26.2019 - WEekly long term analysis, the level at $3.800 in play

Based on the weekly time-frame, I found that there is potential for the more downside and larger drop. I found very important Fibonacci expansion 61.8% at the price of $3.800 (main target).



MACD Oscillator is showing downside pressure in the background and it seems that there is no any reversal pattern yet to counter strong selling pressure.

Additionally, I found that BTC is trading inside of the downward channel and below the resistance trend line, which is another good confirmation for our short bias.

Resistance levels are set at:
$7.700
$9.850




Performed by Petar Jacimovic
Analytical expert
InstaForex Group © 2007-2019

[IFX_Selena]

Technical Analysis of ETH/USD for 26 November 2019

Crypto Industry News:
Thai legislators plan to reform cryptocurrency regulations after expressing concerns that the country has become uncompetitive. As reported by the local English-language information service Bangkok Post, the Thai regulator, the Securities and Exchange Commission (SEC) wants to reconsider its cryptographic policy in 2020.

The reason, he says, is the poor use of the certification and licensing system by cryptocurrency companies. Since the entry into force last year, only five companies have completed certification, and only two of them have been launched. There are now corrections, but the SEC has not yet provided the exact details of changes to current practices.

"The regulatory body must be flexible to apply rules and regulations in line with the market environment. For example, legal provisions should not be outdated and should meet market needs, especially for new products with digital resources, and should be competitive in a global market," he said. Ruenvadee Suwanmongkol, Secretary-General of the SEC.

Thailand imposes severe penalties on those who try to sell digital tokens without proper SEC approval. These include possible fines of at least 500,000 baht ($ 16,540), as well as two-year prison sentences.


Technical Market Overview:
The ETH/USD pair has bounced from a new lower low at the level of $130.72 and the bulls had started the local corrective cycle. The bounce has been capped at the level of $151.37 which is the technical resistance now. The down move continues and there is no sign of reversal yet. The downside momentum is now increasing and the next target for bears is seen at the level of $120.00.

Weekly Pivot Points:
WR3 - $213.59
WR2 - $198.67
WR1 - $165.68

Weekly Pivot - $151.03
WS1 - $118.96
WS2 - $103.42
WS3 - $72.28


Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.






Performed by Sebastian Seliga
Analytical expert
InstaForex Group © 2007-2019

[IFX_Selena]

Technical Analysis of BTC/USD for 26 November 2019

Crypto Industry News:
Charles Hoskinson, co-founder of Ethereum and creator of Cardano, said he expects Bitcoin to return to over $ 10,000 and reach $ 100,000 in the future.

In a published tweet, Hoskinson argued the cryptocurrency community that Bitcoin is more than speculation, blaming the latest FUD media price drop - or fear, uncertainty and doubt - and market manipulation.

Because Bitcoin is about more than just price movements, he expects the world's largest cryptocurrency to get more growth in the future.

"The price of Bitcoins is falling? Everyone, after FUD, news trading and manipulations expire, we still have a global movement that will change the world. We will see 10,000 BTC again and welcome 100,000 BTC. Crypto is unstoppable. Crypto is the future," he said.


Technical Market Overview:
The BTC/USD pair has made another lower low at the level of $6,488. The last Elliott wave count has been invalidated due to the wave 1 and wave 2 overlaps. The market continues the move lower after the corrective cycle is completed. There is no sign of any reversal yet. The nearest technical resistance is seen at the level of $7,234 and the next target for bears is seen at the level of $6,345 and $6,000.

Weekly Pivot Points:
WR3 - $9,581
WR2 - $9,033
WR1 - $7,830

Weekly Pivot - $7,282
WS1 - $6,055
WS2 - $5,531
WS3 - $4,254


Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still down. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.






Performed by Sebastian Seliga
Analytical expert
InstaForex Group © 2007-2019

[IFX_Selena]

BTC 11.25.2019 - Second target at the price of $6.547 has been met, watch for selling on the rallies

BTC has been trading downwards and the price reached my second main target at the price of $6.547. I saw retracement of our support but now resistance is on the test at $7.300. It is good sell zone for further downside.

Ichimoku analysis:



The price is trading below the Ichimoku cloud and there was rejection of the $7.368 (Kijun-sen).

Intraday trends are up but the1H,4H and Daily trends are down. I didn't see any kind of reversal yet and you should watch for selling opportunities with the targets at the price of $6.547 and $5.800.





Performed by Petar Jacimovic
Analytical expert
InstaForex Group © 2007-2019

[IFX_Selena]

Technical Analysis of ETH/USD for 25 November 2019

Crypto Industry News:
A new fund has been created to prevent the EU from being lagging behind countries such as the US and China in blockchain innovation and artificial intelligence (AI).

The European Investment Fund (EIF) and the European Commission jointly spent EUR 100 million on a special investment program that will make capital available for AI and Blockchain projects through VC funds or other investors.

After implementing the fund, the EIF said that private investors are expected to contribute up to EUR 300 million to the fund, with this sum likely to increase next year when national promotional banks can co-invest under the program.

According to this entry, the EU on Blockchain is already spending quite a lot (projected expenditure for 2019 is $ 674 million), with the funds mainly focused on research and concept verification. The United States spends the most, with an expected spending of $ 1.1 billion, and China comes second with $ 319 million, according to data from the International Data Corporation.

The new fund aims to remedy that little is spent in the EU on developing 'larger-scale projects'.

"Investing in the portfolio of innovative AI and Blockchain companies will help develop a dynamic EU-wide investor community in AI and Blockchain. By engaging national promotional banks, we can increase the volume of investment at the national level," said EIF.


Technical Market Overview:
The ETH/USD pair has broken below the technical support (now technical resistance) located at the level of $152.28 and made a new lower low at the level of $130.72. The down move continues and there is no sign of reversal yet. The downside momentum is now increasing and the next target for bears is seen at the level of $120.00.

Weekly Pivot Points:
WR3 - $213.59
WR2 - $198.67
WR1 - $165.68

Weekly Pivot - $151.03
WS1 - $118.96
WS2 - $103.42
WS3 - $72.28


Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.






Performed by Sebastian Seliga
Analytical expert
InstaForex Group © 2007-2019

[IFX_Selena]

Technical Analysis of BTC/USD for 25 November 2019

Crypto Industry News:
Cryptocurrency exchanges operating illegally in China are facing a new threat after the central bank has announced that it will take new steps to enforce the trade ban.

In a published statement, the People's Bank of China (PBoC) warned that it was taking action against entities allegedly involved in trading cryptocurrencies, such as Bitcoin. He added that this move is a response to the increase in commercial activity after China's public support of Blockchain technology.

Committing himself to keep his promise to ban the trade, PBoC has sworn to "get rid" of any activity detected under its jurisdiction.

"Once detected, it will be removed immediately and will be prevented from rebooting early," reads the statement in a translation. Currently, many rumors talk about repression in Chinese outlets of legitimate cryptocurrency companies. Yesterday the attention focused on alleged police raids on Binance and Bithumb offices, which was later denied.

Bitcoin collapsed when news seemed to shake the markets, falling almost 10% and stopping at around $ 7,000.


Technical Market Overview:
The BTC/USD pair has made another lower low at the level of $6,488 and the downtrend continues. The last Elliott wave count has been invalidated due to the wave 1 and wave 2 overlaps. The market continues the move to the south and there is no sign of any reversal yet. The next target for bears is seen at the level of $6,345 and $6,000.

Weekly Pivot Points:
WR3 - $9,581
WR2 - $9,033
WR1 - $7,830

Weekly Pivot - $7,282
WS1 - $6,055
WS2 - $5,531
WS3 - $4,254


Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still down. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 co






Performed by Sebastian Seliga
Analytical expert
InstaForex Group © 2007-2019

[ayazfx]

Market Cap User Review Guide If you add up the total market capitalization of Bitcoin, Ethereum, and the ... Ultimately, this gives CoinMarketCap.com up-to-date information about all major and minor cryptocurrencies.

[Clausfx]

#Ripple - Daily on an operational scale Minor continues to develop movement within the 1/2 Median Line channel (0.3330 - 0.3030 - 0.2750) forks of the operational Minute scale, and makes attempts to break through the lower boundary (0.2750) of this channel, if this happens, then we will to observe the continuation of the downward movement of the crypto instrument to the local minimum 0.2225, although it seems to me that the movement will continue in the mentioned channel with the prospect of breaking the upper boundary (0.3330) thereof and reaching the control line UTL (0.3700) of the operational scale Minor