In this 15-minute chart of Ethereum Classic/ Bitcoin (ETC/ BTC), there is a depreciating range from 0.000646 to 0.000606.
We can observe that the market then appreciated to the 0.000626 area (identified by the red down arrow), right around the 50% retracement of the depreciating range.
We can observe that the market was unable to move far above the 50-bar Simple Moving Average during the appreciation higher.
We can also observe the market then extended its recent depreciation.
Using RSI, we can observe the slope of RSI Average (3) became negative after the market traded as high as the 0.000626 level, and that RSI Average (3) bearishly crossed above RSI (14) after the market traded as high as 0.000626. The slope of RSI Average (3) appears to be flattening out and RSI Average (3) is converging with RSI (14), suggesting the depreciation may be losing strength.
Using Slow Stochastics, we can observe that Stochastics K peaked after the market traded at 0.000626 and its slope then became negative. We can also observe that Stochastics D bearishly crossed above Stochastics K after the market traded at 0.000626. Stochastics D remains above Stochastics K and the slope of Stochastics D remains negative. The slope of Stochastics K has turned positive, however, and this may be indicating the depreciation in price is slowing.
Stay on top of the cryptocurrency market with CryptoDaily’s trading charts!
If reproduced, please indicate the source: http://www.uucj.net/chart-of-the-day-29-december-2019-etc-btc-15-minute/
Ethereum (ETH/USD) extended recent gains in today’s North American session as the pair continued to climb above the psychologically-important 150.00 level. Buying pressure emerged around the 166.18 level during today’s European market, just below the 61.8% retracement of the appreciation from 161.47 to 174.77. Selling pressure earlier emerged around the 171.63 area, representing the 23.6% retracement of this range. Significant selling pressure emerged around the 173.99 area during Tuesday’s North American session, just above the 76.4% retracement of the depreciation from 175.76 to 167.24. Selling pressure intensified around the 171.15 area, just above the 38.2% retracement of the depreciation from 173.99 to 168.93, and buying pressure finally emerged around the 161.47 area. ETH/USD then appreciated back above the 170.00 area. During the pair’s recent appreciation to multi-week highs, Stops were executed above the 153, 156, 159, 168, and 172 areas, upside price objectives related to last month’s low around the 90.00 area. Above current price activity, additional upside price objectives include the 186.60 and 198.05 areas. Below current price activity, downside price objectives include the 158.82, 154.57, and 149.31 levels. …Apr 8, 2020
Korean stablecoin, Terra saw a massive spike in volume yesterday, up 280% on the previous day. And, as a cryptocurrency that sells itself as a payment system, this may well hint at the burgeoning acceptance of crypto as money. Winter is here and ecommerce volumes are through the roof. @terra_money saw 11 BILLION KRT (korean won pegged stablecoin), roughly valued at 10M USD yesterday. 17.4% annualized staking return from tx fees as a result! pic.twitter.com/19jgJRroQI — Do Kwon (@d0h0k1) December 23, 2019 Terra Takes On The Problem Of Crypto As Payment For the most part, cryptocurrencies as payment have failed to capture the interest of the general public for a variety of reasons. Most notably, in relation to volatility. And perhaps to a lesser extent, due to the negative network effect of people being comfortable with what already is. And while the benefits of using cryptocurrency as money are apparent, without people embracing this, low adoption, due to comfort and familiarity with the status quo, becomes a self-fulfilling prophecy. Nonetheless, stablecoin offering Terra is looking to change that. The project…Dec 24, 2019
GameStop has been heavily criticized for remaining open during the coronavirus crisis. They’re now claiming that they’re ‘essential retail,’ and telling staff to prevent law enforcement from shutting down stores. This sort of behavior is absolutely monstrous and should result in company leadership facing prosecution. The other day we talked about how GameStop was exploiting the Covid-19 crisis. They’ve been using the pandemic to try and make money because they’re a failing business. Even after all of that has come out, it seems like GameStop is determined to keep it up. Not only are they still keeping all of their stores open, but they’re now claiming to be “essential retail.” All of this, just so that they can continue to rake in the cash. At this point, the management in charge of these decisions needs to be prosecuted for their actions. GameStop tweeted about the measures they’re taking despite literally fighting against local law enforcement to stay open. | Source: Twitter GameStop Acting Monstrously in a Time of Crisis The rapidly evolving coronavirus crisis has bought out the best in…Mar 23, 2020
Bitcoin bulls were surprised to wake up to a massive early-morning drop that sent the cryptocurrency reeling down to lows of $9,700, which is where BTC was able to find some support that helped it climb higher. It is important to note that this bearish price action may have invalidated the crypto’s midterm uptrend, due to it breaking below a key ascending trendline that had been formed over the past few weeks. The break below this level could lead BTC to see a notable near-term decline, with analysts widely targeting a pullback towards the lower-$9,000 region. Bitcoin Plummets to $9,700 in Early-Morning Sell-Off as Analysts Target Further Losses At the time of writing, Bitcoin is trading down over 3% at its current price of $9,930, which marks a notable decline from its daily highs of nearly $10,400. Throughout yesterday, BTC had been caught within a firm bout of sideways trading around $10,300, which appeared to have marked a consolidation phase in a relatively tight trading range between $10,100 and $10,400. The break below $10,000 came about in an incredibly sharp…Feb 16, 2020
All signs point to the PlayStation 5 having virtual reality support. PSVR is a top-selling headset. Sony has every reason to improve upon it. Virtual reality will deliver the PS5 a victory against the Xbox Series X. Thanks primarily to Half-Life: Alyx, virtual reality (VR) is going through a bit of a revolution. While Valve’s latest triumph is not the platform’s only success, it’s certainly the one bucking trends. Critics still argue the technology is inaccessible, but PlayStation VR (PSVR) has quietly provided an attractive entry point for gamers. And there’s no way Sony won’t produce a follow up with the PlayStation 5 (PS5). PlayStation VR and an Inferior Experience PSVR is the best-selling virtual reality headset out there. This makes perfect sense, considering it’s relatively cheap and doesn’t require a powerful rig to set up. Players simply plug into their console and go. But there’s a reason PSVR is so cheap: It features inferior hardware. And we’re not talking a slight resolution difference. The device only offers a 1920×1080 resolution, split between two eyes, with a 120 Hz refresh…Apr 10, 2020
We’re happy to be back after a recharging long weekend. Let’s get to the news. India’s central bank has clarified its crypto stance, Tencent is looking to invest in “emerging technologies” including blockchain and Facebook’s digital wallet subsidiary announced a rebranding and new details. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top Shelf Libra’s New FaceA statement announcing the rebranding of Facebook subsidiary Calibra to Novi also reveals details of the anticipated wallet product. The Novi wallet will operate as a standalone app, as well as provide interoperability with Facebook’s social messaging apps Messenger and WhatsApp, to make transactions as “easy as sending a message.” Novi customers will need to be verified using a government-issued ID. The wallet will initially be rolled out to a limited number of countries, though the release date still remains unclear. ‘No Such Prohibitions’India’s central bank has clarified the nation’s new crypto policy, months after the Indian Supreme Court lifted restrictions on banking crypto clients. Commercial…May 27, 2020
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Poloniex Exchange proclaimed its aggressive stance for the Asia Pacific region with a new domain name Pwang.com. Pwang act as a medium to access the Poloniex Exchange. The site essentially re-directs the users to the Poloniex Exchange site. According to the exchange post on social media, This domain will improve APAC user’s experience of navigating to our exchange and increase the speed of getting access to it. Try NOW! In the post, Poloniex also cited its goal of attaining the number one position. Currently, Binance leads the spot exchange space and recently expanded into the derivatives market as well. Recently, Poloniex exited the US market and from Circle to focus on other global markets. Stringent regulations also drove Binance into opening a separate entity for the US. The rising interest of blockchain projects in China provides for the necessary impetus for growth. Okex, Huobi, and Binance are the leading Chinese Crypto Exchanges. Nevertheless, due to the practice of ‘wash trading,’ the data in the crypto markets on exchange volumes is misleading….Nov 15, 2019
Bitcoin has seen a significant move to the upside recently and now on the last trading day of the week for Bitcoin CME Futures and the S&P 500 (SPX), it continues to remain bullish near term. Unlike previous weekends when the price action has been inconsequential, this weekend could see BTC/USD make some moves. It would not be much of a problem if a gap is left to the downside because it could be filled on the way down anyway when the major downtrend begins. Meanwhile, the stock market is ready to rally higher to test key levels. For the S&P 500 (SPX), this would be a retest of the 61.8% fib level and potentially filling a gap close to that. We could see BTC/USD rise to fill the gap between $8.2k and $9k around the same time. This is why the cryptocurrency market is expected to remain temporarily bullish for now. The EUR/USD forex pair shares a similar outlook for now and it may take a while for most of these markets to make a decisive move. As discussed…Apr 17, 2020
Today, on April 9th, BTC price started to grow again but now it is slightly falling. However, Bobby Lee believes that Bitcoin must renew its all-time peak by the end of this year and proceed to 25,000 USD. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Bitcoin is generally trading at around 7260 USD today. The sales of the last two days have been localized, and the market is clearly making its mind about the next step. Tech analysis of Bitcoin price changes. The BTC rate will rise to 25,000 USD. – Bobby Lee Miners’ income has decreased by 25%. On W1, the Bitcoin is developing correctional growth after a wave of declining. The downtrend, as well as the general market mood, remains bearish. The aim of the main trend is the fractal low of 3121.90 USD. The resistance level is 8500.00 USD. The declining dynamics of the MACD and Stochastic confirm further decrease. Photo: Roboforex / TradingView On D1, the correctional uptrend has somewhat slowed down upon reaching 50.0% Fibo. The next aim of the growth is 61.8% (7985.00 USD). A…Apr 9, 2020
Cryptocurrency market analyst Mati Greenspan has speculated that the current levels of Bitcoin dominance versus the rest of the cryptocurrency market might be the highest they will ever reach. He reasons that the last time Bitcoin dominance was as high as it is now, there wasn’t even a “developed market” for non-Bitcoin crypto assets. However, such a reading seems a little reductionist. For one, it doesn’t take into account the fact that most of the recent rise that has taken Bitcoin to its current dominance levels has been at the direct expense of the altcoin market. The Only Upper Limit on Bitcoin Dominance is 100% Posting to Twitter earlier today, Greenspan, a senior market analyst at eToro, suggested that Bitcoin’s current ~70% dominance level might be the highest it will ever again reach. The reasoning given was that prior to the 2017 altcoin boom, there wasn’t even a developed market for altcoins. Bitcoin dominance is now comparable to where it was before there was even a developed market for altcoins. Hard to see it getting much stronger from here. pic.twitter.com/pgfNWLQipr…Sep 17, 2019