Bytecoin (BCN)
$0.000229 (-0.54 %) View coin |
Crypto.com Coin (CRO)
$0.141678 (0.64 %) View coin |
Horizen (ZEN)
$7.38 (1.82 %) View coin
Newsletter
21 October 2019

3 coins to keep an eye on | Issue #52

Hello everyone!

Bitcoin continues to leave the market salivating in anticipation of its next move. The previous consolidation periods in April and May both lasted approximately four weeks - a period which we’ve just reached in this consolidation period. 

This timing makes it more likely that the next crucial move is coming very soon. Up or down? The bearish TK cross was just confirmed, but this is by no means conclusive.

While Bitcoin hovers in its tiny 7-8% range, the altcoin marketcap is also remaining relatively stable. After wiggling up to $76 billion and down to $72 billion, it settled at just $1 billion less than its value one week ago.

Meanwhile, here are three coins with events listed on CoinMarketCal during the upcoming week to keep an eye on.

@tradeprophet


Bytecoin (BCN)

Bytecoin (BCN)

Price
$0.000381 (-0.79 %)
฿0.00000005 (-3.46 %)

Market Cap
$70 103 506
฿8 470.77

Volume (24h)
$22 761
฿2.75

Exchange
Binance

The last year and a half have been a sad story for BCN holders, with the price dropping over 98% from the previous peak. However, there are signs that the most recent drop starting in April may have found a bottom.

The current zone is at precisely the level from which the bull run of April 2017 began. This weekly orderblock has so far provided support, with price bouncing just above and just below this order blocks EQ. 

The strong support in this region could make it an excellent entry to begin accumulating around 0.00000004 and selling at the top of the range around the weekly level at 0.00000006. Even if a bull run doesn’t occur soon, traders might benefit from playing this range - especially with the bullish RSI divergence coinciding with bullish events like Thursday’s release of hidden amounts.


Crypto.com Coin (CRO)

Crypto.com Coin (CRO)

Price
$0.033265 (-0.45 %)
฿0.00000402 (-3.15 %)

Market Cap
$366 214 921
฿44 250.60

Volume (24h)
$12 258 828
฿1 481.26

Exchange
Binance

Initial excitement over CRO’s listing faded into a life-long downtrend. However, this downtrend is slowing, and the most recent low could be the bounce that forms a bottom and provides stability.

Since the beginning of August, the price has been ranging between the EQ of a weekly orderblock around 0.00000445 and a weekly level around 0.00000378. The last move upward in early October was defeated by resistance at the weekly EQ, but another bounce could be in the cards.

Support might be at the daily orderblock at 0.0000039, where the last spike upward began. Traders eyeing the upcoming bullish Ichimoku cloud’s Kumo twist and hoping to capitalize on buzz from Friday’s AMA with the CEO may want to start building positions at this orderblock and the bottom of the weekly range.


Horizen (ZEN)

Horizen (ZEN)

Price
$4.45 (14.46 %)
฿0.00053767 (10.27 %)

Market Cap
$33 773 657
฿4 080.95

Volume (24h)
$4 235 823
฿511.82

Exchange
Binance

Once the darling of CryptoTwitter, ZEN has thoroughly crushed hopes and dreams by breaking ancient lows in late June. Nonetheless, it’s now beginning to show some signs of life.

A daily orderblock around 0.00050936 created resistance to the last significant spike upward from the consolidation range. However, the recent bullish TK cross on the Ichimoku cloud and the breakthrough of the range’s top could lead to the weekly order blocks upper boundary turning into support.

Just below the weekly order block’s upper bound rests a daily orderblock, which provides an even better entry for bulls eyeing today’s sidechains alpha release, updated whitepaper, and the incoming 2.0.19 upgrade.

Newsletter
09 March 2020
3 coins to keep an eye on | Issue #72
It's been a bloody weekend for Bitcoin bulls as the bears plunged price over 12% - forming most of the week's 13.6% range - and creating a close 6% lower than the weekly open. The area between $7727 and $8000 might give support, creating a consolidation period over the next week and giving altcoins time to stabilize. The a...
Newsletter
24 February 2020
3 coins to keep an eye on | Issue #70
After a violent struggle through a nearly 11% range, Bitcoin's weekly candle from last week closed a mere 0.6% above where it started. A 6.4% drop from its open has bulls arguing for a spring setup, while bears may be hoping for a retest before a decline. The altcoin marketcap enjoyed a small climb from its weekly start at...
Newsletter
20 January 2020
3 coins to keep an eye on | Issue #65
Last week was another win for the bulls as BTC continued climbing. A 13.86% gain at the highest point at $9169 and a close with a 6.41% gain at $8698 flooded the market with euphoria. However, a quick drop right to $8450 before the close hints at weakness. It's unclear if this is the calm before a reversal, or whether the bul...

3 coins to keep an eye on 👀