BTCManager's Weekly Cryptocurrency Outlook highlights the toll activity as well as technical indicators on a long-term footing to seat the best opportunities inwards the largest cryptocurrencies, such equally bitcoin, ether, as well as others.
BTC-USD (Bitstamp)
BTC-USD closed higher upwardly the $3000 conduct maintain on August 6, amongst the weekly candlestick setting upwardly a overnice purchase signal for this week.
The Bullish Saucer blueprint is confirmed amongst a interruption of terminal week's high occurring this morning, $3339.66, as well as volition propel bitcoin to fresh highs close $4270 over the long-term. Notice that historically when the Bullish Saucer is triggered, nosotros conduct maintain seen a large appreciation inwards the next weeks. Also, discovery that the close consecutive higher high count is alone at 3 at present, suggesting nosotros could run across the bullish run terminal until mid-September, at the earliest.
Last week's toll activity likewise closed higher than the fractal resistance at $2980.00, giving some other indication of bullish momentum.
Looking at the daily nautical chart below, nosotros tin brand it on the ongoing uptrend yesteryear buying at the conversion line, which provides back upwardly at $2999.84. H5N1 sell seat is alone validated if the marketplace moves below the depression of the "three up" light-green cnadlesticks, indicated on the nautical chart below. We hold back to sell below $2765.91, amongst a target of $2400.
ETH-USD (Kraken)
Ether has likewise crept higher on August 7, upwardly over 1.5 per centum against the U.S. Dollar on the Kraken exchange. The price of ether currently stands merely about $270, testing an of import resistance at $269.88, equally indicated yesteryear the conversion line of piece of occupation (blue) on the weekly timeframe. H5N1 closed higher upwardly this grade for the electrical flow candlestick volition opened upwardly up the all-time high at $404.98.
However, if resistance at $269.88 holds as well as this week's closed is lower than this level, as well as then the marketplace volition tend toward the back upwardly provided yesteryear the base of operations line of piece of occupation (red) at $208.07.
The daily nautical chart shown below illustrates a switch from bearish to bullish momentum. Consider the Awesome Oscillator, which has turned positive inwards recent days. Also, nosotros run across for August 6, a bullish Ichimoku breakout occurred as well as at i time that the toll of ether is higher upwardly the cloud, nosotros should run across farther upside over the medium term. H5N1 closed higher upwardly $271.40 for August seven volition give farther bullish confirmation as well as opened upwardly up fractal resistances at $324.50, $381.10, as well as $404.98.
LTC-USD (Bitfinex)
Litecoin may dip lower as well as seek out the conversion line of piece of occupation at $38.68 earlier going higher, equally indicated yesteryear the apartment conversion line. H5N1 weekly closed below $38.86 volition dot to a bearish outlook, however, the opportunity is to a greater extent than weighted to the upside. For example, consider the lagging line of piece of occupation (purple), which has broken the virtually recent peak at $45.10. The alone resistance left indicated yesteryear the lagging line of piece of occupation is $48.20, as well as a weekly closed higher than $48.20 volition opened upwardly up the recent high at $55.47 as well as perchance the $60.00 handle.
The Awesome Oscillator remains cherry-red but is positive, suggesting that bears are non fully inwards command of momentum.
XMR-USD (Kraken)
Monero moved higher terminal calendar week as well as peaked higher upwardly the $50.00 handle, closing higher upwardly the conversion line of piece of occupation as well as the previous week's high of $46.99. H5N1 closed higher upwardly the conversion line of piece of occupation signals renewed bullish momentum as well as nosotros should run across the marketplace seek out the resistance at $57.74, equally indicated yesteryear the peak of the lagging line of piece of occupation (purple). Further resistance lies at $61.70, the fractal sell grade from early on June.
The daily nautical chart below shows several bullish signals. Firstly, the lagging line of piece of occupation has moved from below to higher upwardly the cloud, confirming an upward trend. Secondly, the Ichimoku cloud has turned green, subsequently remaining cherry-red inwards color for several weeks. Finally, the Awesome Oscillator is growing as well as is light-green inwards color. Therefore, nosotros should run across XMR-USD appreciate over the coming calendar week as well as surpass the $50 handle.
DASH-USD (Kraken)
The weekly nautical chart below shows that DASH-USD may render to short-term equilibrium at $177 earlier making whatever farther gains. The nautical chart shows that the conversion line of piece of occupation (blue) has flattened as well as provides back upwardly at $177.50. Therefore, nosotros propose boundary purchase orders at $177.60 this week. Also, nosotros evaluate the long-term outlook at the destination of the week; amongst a weekly closed below $177.60, nosotros hold back to sell. However, a weekly closed higher than $195.97 volition opened upwardly up the fractal resistance at $240.00; discovery that the peak of the lagging line of piece of occupation provides resistance at $195.97 as well as a interruption of this grade volition probable opened upwardly up a novel all-time high for the altcoin.
Looking at the daily timeframe, nosotros run across that DASH has flora back upwardly inside the Ichimoku cloud. The conversion line of piece of occupation is starting to dot upward, suggesting nosotros volition run across gains for DASH-USD inwards the days ahead. For the yesteryear half-dozen days, DASH-USD has remained trapped inside the Ichimoku cloud; a bullish breakout volition dot an upward tendency forming as well as an endeavor at the fractal resistance at $219.00. H5N1 closed higher than $192.00 for August seven volition involve a bullish outlook as well as nosotros hold back to teach inwards long positions for DASH inwards this case. Also, discovery that the lagging line of piece of occupation (purple) has moved higher upwardly the previous toll activity as well as at i time looks to interruption higher upwardly the conversion line, giving some other bullish indication.
BCC-BTC (Bittrex)
Volatilty persists for Bitcoin Cash. The novel altcoin has shown large gains on August 7, as well as a interruption higher upwardly the fractal resistance at 0.0843 volition opened upwardly up an endeavor at the base of operations line, which stands at 0.1469. Notice that the toll activity closed higher upwardly the conversion line of piece of occupation as well as the lagging line of piece of occupation has formed a trough, suggesting a bottom has been flora inwards the market. H5N1 bearish outlook is validated if in that location is a 4-hour closed below the conversion line.
XEM-BTC (Poloniex)
XEM closed higher upwardly both the base of operations line of piece of occupation as well as conversion line of piece of occupation terminal week, giving a rigid bullish signal. XEM-BTC reached a high of 0.00009000 terminal calendar week but buyers were tempered dorsum below 0.00008000. However, a retrace looks to survive consummate as well as nosotros should run across a continuation of the long-term upward trend. We hold back to purchase XEM-BTC amongst a interruption of the immediate Fibonacci resistance at 0.00008749. Also, discovery that the Awesome Oscillator is setting upwardly a bullish saucer signal for side yesteryear side week. Immediate back upwardly is flora at 0.00007133.
As noted inwards our coverage of the COMSA ICO platform, XEM flora back upwardly close the opened upwardly as well as l per centum levels of the daily bullish Marubozu, shown below. Additionally, nosotros hold back for an Ichimoku breakout to the upside to add together some other long seat on XEM-BTC.
STRAT-BTC (Poloniex)
Stratis is i strong-performing altcoin that has moved higher inwards tandem amongst bitcoin, upwardly over seven per centum on today's opened upwardly as well as merely about l per centum since early on July. Last week, however, STRAT-BTC failed to closed higher upwardly the base of operations line, at 0.0024, which would conduct maintain given a bullish signal. We await this signal to teach inwards into a long position. Moreover, nosotros await the weekly closed to make upwardly one's hear whether to teach inwards a long seat or not. For instance, the peak of the lagging line of piece of occupation provides a primal resistance at 0.0022. H5N1 weekly closed higher upwardly this grade volition opened upwardly up the fractal resistances at 0.0026 as well as 0.0046. On the other hand, a weekly closed below 0.0022 volition involve a bearish outlook.
The conversion line of piece of occupation is moving lower as well as acts equally resistance, so it may thus survive best to teach inwards a sell seat at 0.0023, equally the conversion line of piece of occupation is crossing below the base of operations line, indicating bearish momentum is starting to accept hold. Waiting for the weekly closed volition give farther clarity.
[
Telegram Channel |
Original Article: ]
