Markets Roundup by F1Cryptos

Catch up on the latest Bitcoin and Altcoin news.
F1Cryptos
Posts: 13
Joined: Mon Feb 12, 2018 3:28 am
Cash on hand: Locked

Mon Mar 26, 2018 4:30 am

Litecoin inched higher on Monday, increasing the price of digital currency to more than $150 after some key economic releases. The technical bias remains bullish because of a higher high in the recent upside move.

Litecoin Technical Analysis

As of this writing, the digital currency is being traded near $157. A hurdle can be noted near $250, a key psychological level ahead of $306, 23% fib level on the daily chart and then $369, the high of the last major upside move. A break and daily closing above the $369 level shall trigger renewed buying interest, validating a rally towards the $400 resistance zone.

Image

On the downside, a support may be noted around $138, an immediate horizontal support ahead of $100, the psychological level as well as another key horizontal support area and then $57, a major trendline support. The technical bias shall remain bullish as long as the $100 support area is intact.

US Payrolls Report

The ADP national employment report showed private sector employment rose by 234,000 jobs in February, beating economists’ expectations for an increase of only 185,000. December’s payrolls count was revised down to 242,000 from 250,000.

Manufacturing added 12,000 jobs last month and construction payrolls increased 9,000 despite bitterly cold temperatures in many parts of the country. There were also widespread job gains in the private services sector.

The ADP report is jointly produced with Moody’s Analytics. It, however, has a poor record predicting the private payrolls component of the government’ more comprehensive employment report.

Trade Idea

Considering the overall technical and fundamental outlook, buying the digital currency around current levels appears to be a good strategy in short to medium term.


F1Cryptos
Posts: 13
Joined: Mon Feb 12, 2018 3:28 am
Cash on hand: Locked

Tue Mar 27, 2018 7:53 am

Ethereum inched higher on Tuesday, increasing the price of digital currency to more than $450. The technical bias remains bearish because of a lower high in the recent upside move.

Ethereum Technical Analysis
As of this writing, the digital currency is being traded near $481. A hurdle can be noted around $575, a key horizontal resistance area ahead of $1000, the psychological level and then $1044, the upper trendline resistance area as demonstrated in the given below daily chart.

Image

On the downside, a support may be seen around $409, the low of yesterday ahead of $400, a major psychological level and then $360, the confluence of two major trendline support levels. The technical bias shall remain bearish as long as the $954 resistance area is intact.

Vitalik Buterin’s Remarks
Ethereum founder Vitaik Buterin warns that cryptocurrencies still fall into hyper-volatile asset class and could plunge to near zero price anytime. He suggests investors to make only limited investment in cryptocurrencies which they can afford to lose.

Trade Idea
Considering the overall technical and fundamental outlook, selling the digital currency near current levels can be a good strategy in short to medium term. If you are looking to buy and store Etherum for long term then it is recommended to wait for a level around $400. Like other cryptocurrencies, ethereum is also under strong selling pressure. Given the current circumstances, a move towards $350 is very likely.

F1Cryptos
Posts: 13
Joined: Mon Feb 12, 2018 3:28 am
Cash on hand: Locked

Thu Mar 29, 2018 4:25 am

Bitcoin increased in value on Wednesday, increasing the price of digital currency to more than $7900. The technical bias remains bearish because of a lower high in the recent upside move.

Bitcoin Technical Analysis

As of this writing, the digital currency is being traded near $7988. A hurdle can be noted around $9153, an immediate trendline resistance ahead of $10000, the psychological level and then $11507, the upper trendline resistance area as demonstrated with red color in the given below daily chart.

Image

On the downside, a support may be seen around $6854, an immediate trendline support ahead of 6800, psychological level and then $5955, the low of February 6, 2018. The technical bias shall remain bearish as long as the $11568 resistance area is intact.

Vitalik Buterin’s Remarks

Ethereum founder Vitaik Buterin warns that cryptocurrencies still fall into hyper-volatile asset class and could plunge to near zero price anytime. He suggests investors to make only limited investment in cryptocurrencies which they can afford to lose.

Trade Idea

Considering the overall technical and fundamental outlook, selling the digital currency near current levels can be a good strategy in short to medium term.


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