Bitcoin Is Hedge Against Global Liquidity Crises: Grayscale Study

8m
coindesk

Ripple XRP Price Prediction 2019 — Experts Take And Three Reasons We…

25m
cryptonewmedia

Bitcoin up for a long run as it re-visits an old bullish pattern |

26m
cryptonewmedia

Canadian Pharmacy to Track Cannabis via Blockchain in New Pilot Program

27m
cryptonewmedia

Ethereum Public Blockchain Favoured for Document Authenticator Feature…

1h
cryptonewmedia

Ripple XRP Price Prediction 2019 — Experts Take And Three Reasons We Could See $5 In 2019

1h
cryptonewmedia

Bank of America: Facebook’s Libra Could Act as an Endorsement of Crypto; Here’s What Analysts…

1h
cryptonewmedia

Best NEO Wallets for Your Crypto Coins

2h
cryptonewmedia

Brazilian Financial Authorities Announce Regulatory Sandbox For…

2h
cryptonewmedia

Polish Bank Verifies Documents With Ethereum Blockchain

2h
cryptonewmedia

What’s Changed Since Bitcoin Was at $9K in 2017? –...

2h
bitcoinist

Canadian Pharmacy Adopts Blockchain to Standardize Medical Cannabis

2h
bitcoinnews

28 Ethereum EIPs Are Preparing for Istanbul Hardfork

2h
cryptonewmedia

Bank of America: Facebook’s Libra Could Act as an Endorsement of…

2h
cryptonewmedia

BLOCKWALKS 2019 Public Conference Opens Dialogue About How Blockchain…

2h
cryptonewmedia

What’s Changed Since Bitcoin Was at $9K in 2017?

2h
cryptonewmedia

Ripple (XRP) enters key partnership with MoneyGram; invests $30 million

2h
cryptonewmedia

Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP

2h
zycrypto

Beaxy Launches Crypto Trading Platform By Diana Ngo - June 11, 2019 0 107

3h
coinjournal

Bitcoin Pumps Whilst Google Interest Declines: Evidence of…

3h
cryptonewmedia

Android Phishing Malware Impersonates Turkish Cryptocurrency Exchange

3h
cryptonewmedia

Brazilian Financial Authorities Announce Regulatory Sandbox For Blockchain

3h
coindesk

JPMorgan Analysts: Institutional Investors are Behind Bitcoin’s Current Bull Run

3h
zycrypto

Bitcoin [BTC] Bears Seem Out-of-Sight as Analysts Predict Targets…

3h
cryptonewmedia

Bitcoin Pumps Whilst Google Interest Declines: Evidence of Institutions Buying?

3h
cryptonewmedia


BitcoinNews.com Ethereum Market Analysis 19th May 2019

bitcoinnews

1mon ago

Well. The week ends, during which the buyers confidently left the consolidation triangle and tested the price zone, which we wrote about in the previous analysis. After the price went out from the triangle, the volumes of the trades significantly increased and the price began to increase more aggressively. If we analyze the volumes in more detail, then at 4-hour timeframe it is clearly visible that the largest volumes are fixed in the price zone of $255-275. Thus, the buyers shifted the liquid price zone by 10% higher, near which we forecasted a stop:

Now buyers are trying to resume growth and the price stopped in consolidation before the range of $255-275. The volumes are less than they were at the first attempt of breakdown, but if the sellers do not try to take the initiative into their hands, the breakdown zone of $255-275  is a matter of time.

If we analyze the marginal positions of buyers, then after a sharp closing of positions, buyers begin come to life and gradually increase their positions:

Sellers do not have the united mood and are currently moving in consolidation. However, their marginal positions are at historic low, so hoping for a sharp increase in prices by closing the unprofitable positions of sellers is useless:

In wave analysis, a new wave of growth, which began in February 2019 still in the triangle and is still longer than the previous wave of growth in 1.618 times. Now the price is traded over this level of Fibonacci. If buyers can not lower the price below – then we will have to forget about the scenario in which the current growth was a correction and should consist of only 3 waves. Even if sellers can lower the price below $240, the critical point for buyers will be at a price of $210. If buyers keep this price, we expect another wave of growth:

If we analyze the weekly timeframe, we see a large promising green candle on an increased volume that tells us that buyers have no desire to stop growth, and sellers have no power to counteract:

If buyers can fix themselves above the price range of $255-275, the next stop is $320. Otherwise, we will monitor how the price will behave at the price of $210 to select more likely scenario.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments