ETH/USD and ETH/BTC Technical Analysis November 30 2017

Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum broke out during the trading session on Wednesday, clearing the $500 level. It now looks as if we are going to continue to find buyers in the Ethereum market on dips, and we should continue to go much higher. Given enough time, I believe that Ethereum will go looking towards the $550 level as the next logical round number. However, on the hourly chart we are crossing in the overbought part of the stochastic oscillator, and that of course suggest perhaps the pullback is coming before we move higher. Nonetheless, I remain bullish.

ETH/BTC

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Ethereum also rallied against Bitcoin, but with Bitcoin skyrocketing over $1000 in the last 24 hours, it’s a most impossible to imagine going long against it. Because of this, I suspect that the 0.48 level is going to offer significant resistance, and we may very well pull back in the short term.

Thanks for watching, I’ll be back tomorrow.

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BTC/USD and BTC/JPY Technical Analysis November 7 2017

BTC/USD

Bitcoin has been reasonably flat over the last several sessions, but should find support near the $7000 level. The should line up nicely with the previous resistance line of the uptrend channel, so it’s likely that we should see plenty of buying pressure underneath. Bitcoin looks very healthy, but taking a bit of a breather after a move higher makes quite a bit of sense.

BTC/JPY

Bitcoin has gone sideways against the Japanese yen as well obviously, but I think that the ¥800,000 level underneath will continue to offer support, and dips are buying opportunities. Ultimately, the buyers should return and push towards the ¥1 million level over the longer term, but this is a longer-term call, and in the meantime, we must assume that it is a simple grind higher.

Thanks for watching, be back tomorrow.

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DASH/USD and LTC/USD Technical Analysis November 6 2017

 

DASH/USD

DASH has been bouncing around for some time, and I believe that the $250 level continues to offer massive support. Ultimately, I anticipate that the real resistance above at the $300 level is the target, so I like buying dips in this market, but I also recognize that you will have to be very patient to realize profits.

LTC/USD

Litecoin rallied a bit during the day, but we have a downtrend line that coincide somewhere close to the $57 handle. If we can break above there, I would be a buyer of Litecoin, but until then I believe that short-term pullbacks are going to offer small buying opportunities. Ultimately, the market breaking out should be more of a longer-term “buy-and-hold” situation. The $50 level below should be a hard “floor” in the market.

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ETH/USD and ETH/BTC Technical Analysis November 3 2017

ETH/USD

Ethereum fell during the trading session on Thursday, breaking below the $290 level, and then testing the $275 level underneath. A bounce from there tested the $290 level, which of course is a very important level, as it was the bottom of consolidation, but it looks likely that we are entering a wider consolidated area. A break above the $292 level should have the market looking for the $308 level now, and looking at the 4-hour chart it seems as if the buyers are returning.

ETH/BTC

Ethereum found its footing a bit against Bitcoin at 0.038, but quite frankly any bounce at this point should invite selling, as this market has been in such a nasty downtrend. Although I think Ethereum will rally against the US dollar, Bitcoin markets are essentially on fire right now, meaning that we will continue to see longer-term bearish pressure.

Thanks for watching, I’ll be back Monday.

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DASH/USD and LTC/USD Technical Analysis November 2 2017

DASH/USD

DASH continues to be very noisy, as we bounce around in a massive consolidation area. The $260 level underneath is support, while the $300 level above is resistance. Because of that, employing some type of range bound system might be the best way to deal with the attitude of markets. The Stochastic Oscillator is starting to crossover at the 20 level, just as we are approaching significant support. It’s likely that the market will bounce from here, perhaps reaching back towards the $300 level again.

LTC/USD

Litecoin continues to bounce around, and Wilt. The $52 level underneath begins a massive floor in the market, and I think we are trying to build up enough momentum to hang about and eventually break out above the $60 handle. However, right now I think you can take your time to build up a larger position, assuming that we stay above $50. A breakdown below that level could be rather bearish.

Thanks for watching, I’ll be back tomorrow.

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ETH/USD and ETH/BTC Technical Analysis October 31 2017

ETH/USD Ethereum has gone back and forth during the session on Monday, as we continue to test the $312 level. I think there is a significant band of resistance extending from that level to the $316 level, so I need to see this market break above the $316 level to jump “all in.” Because of … Continue reading ETH/USD and ETH/BTC Technical Analysis October 31 2017

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ETH/USD and ETH/BTC Technical Analysis October 31 2017

ETH/USD Ethereum has gone back and forth during the session on Monday, as we continue to test the $312 level. I think there is a significant band of resistance extending from that level to the $316 level, so I need to see this market break above the $316 level to jump “all in.” Because of … Continue reading ETH/USD and ETH/BTC Technical Analysis October 31 2017

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DASH/USD and LTC/USD Technical Analysis October 30 2017

DASH/USD DASH continues to bounce around during the Friday session, using the $280 area as support. I think there is even more support below at the $270 region, so therefore it’s likely that we will find buyers given enough time. The market then will go looking towards the $300 level. However, the US dollar has … Continue reading DASH/USD and LTC/USD Technical Analysis October 30 2017

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BTC/USD and BTC/JPY Technical Analysis October 30 2017

BTC/USD The Bitcoin market against the US dollar initially tried to rally during the trading session on Friday, but struggled at the $6000 level. We then fell towards the $5700 level, an area that yesterday I had suggested could be the floor. We have bounced since then, and it does look like we may be … Continue reading BTC/USD and BTC/JPY Technical Analysis October 30 2017

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DASH/USD and LTC/USD Technical Analysis October 26 2017

DASH/USD DASH dropped a bit during the day on Wednesday, after initially trying to break above the $93 level. It looks as if the market is trying to find its footing, and should find plenty of support near the $282.50 level. Because of this, I’m waiting to see some type of impulsive bounce or supportive … Continue reading DASH/USD and LTC/USD Technical Analysis October 26 2017

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