ICO168.IO Four Coin Analysis

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Bitcoin(BTC):

Looking at the 4 hour charts we can see that Bitcoin has lost support at the 78.6% Fibonacci level from an upward trend that began on June 24th. As the Bitcoin ETF decision dates for 5 Bitcoin ETF’s will be decided on or before September 21st the stagnation of Bitcoin’s price movement until after this decision will be reflecting this. The 8-period EMA has just crossed under the 20-period EMA on the 4 hour charts as well signaling momentum is on the bears side. Current price is $6150 at time of writing with short-term resistance $6818, mid-term resistance $7500, and long-term resistance at $8500. Short-term support is $6000, mid-term support is $5750, long-term support is $5000.

Ethereum(ETH):

Ethereum is currently trading at $199 at time of writing. It is exhibiting bearish divergence where the price had made local highs but the RSI is moving lower. The price has just broken down from the 23.6% Fibonacci level and was not able to break the bearish trend. It faced major rejection at $225 where the 38.2% Fibonacci level was indicating the trend was still bearish. Short-term resistance is $225, mid-term resistance is $260.99, long-term resistance is $320. Short-term support is $193, mid-term support is $167, long-term support is $133.

Litecoin(LTC):

Litecoin is currently trading at $52.08 at time of writing. After facing a rejection of the 38.2% Fibonacci line, the price has continued its descent downwards. Looking at the 4hr charts we can see that it is trying to find support at the $52 range but is having some trouble. The 8-period EMA looks like it’s trying to go below the 20-period EMA once again spelling more bearish sentiment. Short-term resistance is $55.75, mid-term resistance is $61.03, long-term resistance is $70. Short-term support is    $52.49, mid-term support is $49.28 and long-term support is $47.21

Ripple(XRP):           

Ripple has experienced a huge rise in the past 3 days moving up 27%. This was most likely due to news from a soon-to-launch xRapid and settlement of a lawsuit with R3 Consortium has finally concluded. Because the price traded above the 38.2% Fibonacci line, XRP is trying to regain bullish sentiment. Short-term resistance is at $0.32, mid-term resistance is $0.34, and long-term resistance is $0.37. Short-term support is $0.31, mid-term support is $0.29 and long-term support is at $0.24 according to my Fibonacci levels. There is also bearish divergence as well since the price made a higher high but a lower high on the RSI. Volume is still good but the price may be unsustainable in the short-term and is looking for a retracement.

The news:

This week (and next week) are vital to cryptocurrencies because of pending Bitcoin ETF decisions. This week will be 5 Bitcoin ETF’s decided on by September 21st. The decisions will be for Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares, and Direxion Daily Bitcoin 2X Bear Shares. Nasdaq plans to acquire Cinnober for $190 million in what seems to be an arms race between who can provide the best custody services that include digital assets. Since ICE is going with Bakkt, it feels like Nasdaq is trying to compete by acquiring this crypto-friendly technological firm. France aims to be the ICO capital of the world by providing an ICO framework that will attract investors. New report by Diar research group shows that 1% of wallets owns 55% of the world’s Bitcoin indicating that Bitcoin may not be as decentralized as people perceive. Even over 50% of Bitcoin’s hashrate is controlled by mining pools. In addition, the report says that over 1/3 of the world’s Bitcoin has never been moved out of wallets so this means either people are holding for the long term or people have just lost their private keys.



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關於作者

Preston Hom

交易平台(ICO68.IO)分析師。Newcoins168網站ICO分析師,曾擔任現代美國汽車公司的數據分析師。2013年畢業於加州大學爾灣分校。 在目睹身邊的朋友通過首次代幣發行(ICO)投資的高回報率賺了數百萬美元後,Hom進行了第一次ICO投資 。他通過識別宏觀趨勢,研究和分析,成功將自己的所有投資增值,回報率最高達到4000%左右。他認為,區塊鏈技術與互聯網起源的獨創性相似,在web 3.0創新技術的帶動下,區塊鏈技術將會為世界提供更多成功的機會。

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