Bitcoin Cash (BCH)
$221.87 (1.72 %) View coin |
Bytom (BTM)
$0.056648 (-2.17 %) View coin |
Pundi X (NPXS)
$0.000112 (0.85 %) View coin
Newsletter
06 May 2019

3 coins to keep an eye on | Issue #32

Hello everyone!

The last two weeks gave us another surge upward in Bitcoin’s price as the altcoin marketcap holds relatively steady.

The lower 6K range is likely to provide significant resistance for Bitcoin. The most probable direction is down, which would give a healthy pullback. However, Bitcoin is notorious for defying expectations.

A consolidation period before the next move, as well as Consensus 2019, could provide some opportunities in the altcoin market. Here are three of the top 100 coins with upcoming events to keep an eye on during this period.

@tradeprophet


Bitcoin Cash (BCH)

Bitcoin Cash (BCH)

Price
$289.80 (-1.05 %)
฿0.05062172 (-0.15 %)

Market Cap
$5 148 942 241
฿899 411.34

Volume (24h)
$1 862 371 175
฿325 316.87

Trade
Binance

BCH has spent the entirety of 2019 in an uptrend. However, this bullish trend may soon be put to the test.

After a recent drop, the price has spent the last week forming an ascending wedge. This pattern is typically bearish and breaks to the downside.

The closest probable support lies near the base of the last bullish impulse around 0.041. A bullish trendline, a weekly EQ, and the daily bullish orderblock that started the previous run upward all converge on this level.

This confluence occurs right around May 15, which also happens to be the date of BCH’s hard fork. Traders anticipating bullish continuation or an opportunity to play a bounce may want to keep a close eye on the price’s progression.


Bytom (BTM)

Bytom (BTM)

Price
$0.097768 (-1.49 %)
฿0.00001708 (-0.54 %)

Market Cap
$98 012 080
฿17 120.64

Volume (24h)
$5 130 666
฿896.22

Trade
Binance

BTM is steadily plunging toward its all-time low after a lengthy consolidation period. Indiscriminately buying would be a risky move.

However, the heavily oversold RSI suggests that at least a bounce, if not a reversal, might be in BTM’s near future.

The confluence of a weekly EQ and daily bullish orderblock, roughly around 0.000013, may provide some hope for bulls looking for an entry.

Next week’s airdrop could provide a catalyst for the formation of a swing low, allowing traders to play a bounce off these levels.


Pundi X (NPXS)

Pundi X (NPXS)

Price
$0.000633 (-0.51 %)
฿0.00000011 (0.34 %)

Market Cap
$138 854 140
฿24 254.88

Volume (24h)
$4 257 806
฿743.75

Trade
Binance

Although NPXS doubled in price during Q1 2019, it has now retraced to its all-time low during March and April.

The weak volume accompanying the downtrend suggests a lack of enthusiasm from bears. The last two weeks of consolidation inside a significant weekly level could be the bottom of a range forming.

If the low breaks and turns to resistance, far more downside can be expected. However, this level around 0.00000011 might provide a very favorable risk-reward ratio for bulls targeting the next weekly level resting above.

The upcoming burn could be what NPXS needs to create a double bottom and begin a new bullish trend.

With the recent market turmoil most large cryptoassets saw their year-to-date (YTD) returns turn negative. Bitcoin is now down 15.85% while Ethereum is down 0.95%. The two outliers, BitcoinSV and Tezos had seen dramatic jumps in price earlier this year leaving them still in the green YTD. Messar...
Newsletter
30 September 2019
3 coins to keep an eye on | Issue #49
Bitcoin's move that we've all been waiting for finally happened last week. After consolidating for nearly three months, Bitcoin dropped 23% over a few days before finding some stability in the weekly orderblock around $8,000.  This drop may be a shakeout before another move up, but bears currently have the upper hand....
Newsletter
13 August 2019
3 coins to keep an eye on | Issue #42
Bitcoin chops in a relatively neutral position, giving both bulls and bears confidence in their positions. The past week's range shows no apparent signs of breaking upward or downward - but the drop in volume suggests that the move is quickly approaching. Meanwhile, the altcoin marketcap suffered some losses during the las...

3 coins to keep an eye on 👀