Cryptocurrency Relative Strength Analysis Report For Week Starting 5/26/19

When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin.  Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin. 

When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.

Source Image

Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy

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Crypto Contest May 26: Celer Network

Celer Network (Binance: CELRUSDT) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Celer Network began a wave one advance on May 9. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 21, and the red wave two (blue sub-waves a-b-c) correction ended on May 25. If this wave count is correct, Celer Network should be heading next towards the May 21 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Celer Network is a layer-2 scaling platform that enables fast, easy and secure off-chain transactions. BlockchainBrad interviewed the

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The Sunday Recap – Down the Rabbit Hole 30

As usual lots to take-in this week from the continuing shenanigans of Craig Wright to JP Morgan’s clear inability to grasp the value proposition of crypto. This week I’ve highlighted Hackernoon – with all but one of the listed articles being sourced from the website. The quality of crypto/tech-related material published on Hackernoon is first rate. Each one of the articles listed below is informative, valuable and current.

Picks of the Week

Hands down the most interesting article I’ve read in quite some time is ‘Crypto is the New Fiat‘ by Conceptskip. While I don’t necessarily agree with all of the points

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Don’t Sleep On Litecoin’s Halving Event

Bitcoin is up over 100% this year.  Part of the reason is because Bitcoin is halving in May of 2020. Bitcoin Halving is where the number of generated Bitcoin rewards per block is cut in half making the supply and demand of bitcoin a bit more imbalanced.  Meaning the less Bitcoin available, the more demand there is for bitcoin, thus the higher price.  And usually prior to the halving, 12 months in advance, the Bitcoin price tends to move higher in anticipation of the event.

Source

Litecoin is currently trading at a new 2019 high and the highest it has been

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Crypto Contest May 25: U Network

U Network (Huobi: UUUBTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, U Network began a wave one advance on February 25. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 8, and the red wave two (blue sub-waves a-b-c) correction ended on May 14. If this wave count is correct, U Network should be heading next towards the April 8 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

U Network is a decentralized content asset storage, notarization, distribution, publishing and valuation network. Crypto Love reviewed the

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BITCOIN – 25 May

Look like it’s still trying to break the bull flag top resistance. May just do sideway consolidation for another week between 7800 to 8200 zone before the next move. Still likely for one more leg up testing the 9600 zone based on current sentiment.
News: (Current) | (Upcoming)
Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :101
Total marketcap :250
Dominance :56.9
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :

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BITCOIN: Price Action coming

Quick post here…

We may see the end of the 4th corrective wave in the coming hours.

BITCOIN is reaching a decision resistance line of a symmetrical triangle. Since the volume is sustained I think we should see a breakage of the resistance line upwards.

Also RSI is showing a slight divergence which supports the trend.

The Target projection is 9600 USD.

Enjoy!


@toofasteddie


*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

BITCOIN: 4 Months of Exponential growth

Yes, it has passed already 4 months since BITCOIN touched what it seems to be the bottom of a long and painful correction.

Accompanying the solid 4 months of growth lately we are attending to an unprecedented growth as well of the trading Volume.

During this period of time BITCOIN has increased the volume not in a proportional way:

– Mid January: Volume $5.582.489.560 ; Price: $3.601,01

– Mid February: Volume $10.794.227.451 ; Price: $3.810,43

– Mid March: Volume $9.144.851.065 ; Price: $4.022,17

– Mid April: Volume $13.731.844.223 ; Price: $5.314,53

– Today: Volume $25.827.943.247 ; Price: $8.064,02

The following is the BITCOIN Market cap. Monthly chart in

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The Litecoin Price Action Has Got Me Interested

Litecoin has been interesting in recent moves.  It went from leading the market before the bitcoin breakout to kind of being a bit quiet in the past weeks (relative to the BTC and ETH moves) and now just when it looked like things were just muddling along we get a noticeable move today.
Thoughts of a Bullish Break flooding back in
If you look at the chart price consolidated after pulling back from the run at the 108 area.  The initial bounce following that pullback was short lived and things looked like they may turn lower or just muddle along sideways but

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Bitcoin, EOS, BNB, BAT, LTC, ETH and XRP Analysis: Waiting for Resolution

Bitcoin continues to consolidate within what looks like larger wedge. Price is testing the upper resistance of that wedge, threatening a breakout.

Many altcoins are starting to move. In today’s video I analyze Bitcoin, EOS, BNB, LTC, BAT, ETH and XRP. I discuss where prices may be heading next, key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing

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