Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Tuesday, 24 November 22:30 (GMT -05:00)



Foreign exchange market

Ethereum and Bitcoin Are Close To 5-Month and 1-Month Highs Respectively


After going out of the triangle in the first half of the trading week, Bitcoin started growing faster on Tuesday and Wednesday, thus gaining over 4% in 2 days and testing 9573 dollars per coin, the highest level in 4 weeks. Still, Thursday's session brought a modest correction down and a move back to 9500 dollars per coin and below. In the broad market of cryptocurrencies, Ethereum is the best performer. It has already gained over 7% over the last 24 hours and is currently testing 270 dollars per coin.
 
The TOP 20 digital currencies were in the green zone on Thursday morning. ETH took the lead. Chainlink followed with (+7,1%). Tezos and Bitcoin Cash gained over 4% over the same period. The cryptocurrency ecosystem is currently feeling optimistic, which also contributed to the fact that it's overall market cap increased by 2,3% all the way up to 287 billion dollars, which are the highest figures since February 2020.
 
Bitcoin gained some strength as well. However, at this point, it's too premature to talk about any activity revival in the BTC market.
 
Despite the fact that this week's 4% gains are a positive sign for Bitcoin, these are still moderate gains in a proader sense. The world's oldest cryptocurrency keeps on consolidating in a narrow price range  while there's no increase in terms of transactions and turnover. The $10000 threshold is still the key level of resistance for BTC.

 

20200701093034.jpg

Bitcoin, Daily
Source: Tradingview.com
 
The situation with other cryptocurrencies is much more interesting, especially if compared with the ETH market cap.
ETH is still performing its best session since May 2020, testing 5-month highs.
 
Which is even more significant, ETH has already overcome the local level of resistance and the top consolidation limit set in March and retained in June and first half of July. Now this level has turned into a support level (around 250 dollars per coin), which may give way to the highs set in early 2020 around 290 dollars per coin.

20200701093034.jpg

Ethereum, Daily
Source: Tradingview.com

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

VWAP Indicator. Usage Peculiarities.

In order to get a competitive edge over others and simplify the process of reaching the trading goals, many traders take advantage of a number of helper tools like trading strategies and indicators. Today, we are going to take a closer look at the indicator named Value-Weighted Average Price (VWAP). What are the benefits of using it and why do they recommend using it?

Publication date: 30 October 10:55 AM

Forex Consolidation. EUR/USD and GBP/USD

The stock market has been ambitious in its attempt to eliminate September's retracement and take the "blue wave" into account but the forex market has been more conservative recently in terms of restoring risky bets. However, when it comes to the stock market, each and every scenario out there eventually boils down to the smart money, which cannot but affect the international currency market. Still, there are many questions to be answered yet, which makes it really difficult to make more or less clear predictions.

Publication date: 12 October 10:58 PM

Tape Patterns Indicator

Traders often use various kinds of technical indicators these days. The list can be rather long, from popular ones like RIS, MACD etc. to less popular ones like Tape Patterns.
Publication date: 30 September 08:52 AM

Bitcoin's Getting Ready For a Strong Rally

While Bitcoin could have been more volatile over the recent weeks, the king of cryptocurrencies stoped in the range between 10K and 11K dollars per coin. Do BTC miners know in which way the coin is going in the near future?

Publication date: 30 September 04:07 AM

Bloomberg: Crypto Is Better Than Gold In 2020

According to the recent Bloomberg report, cryptocurrencies are way better than gold in terms of investments in 2020. Which is interesting, most cryptocurrencies have been growing much faster than gold this year. It's not a secret that gold is considered a safe-haven asset amid crises. Bloomberg Galaxy Crypto Index (BGCI) has gained 66% this year,while gold has gained only 20% over the same period.
Publication date: 29 September 01:07 PM

Gold Prices Drop Below $1860/oz, Seeing A Major Downtrend

On Thursday morning, the spot price of gold dropped roughly down to $1850/oz withing the scope of a strong downtrend started earlier this week, with a strong gap from the consolidation level. The key factors contributing to the price drop was the sudden strengthening of the U.S. Dollar.

Publication date: 25 September 07:39 AM

Texas Authorities Spot New Crypto Scams

The TSSB, which is the financial regulator of Texas, is reported to have revealed a couple of potential scams in the international market of cryptocurrencies. These are named Forex Birds and PEK Universe. From now on, both of these projects cannot work in Texas anymore. These projects were banned on September, 3rd.

Publication date: 18 September 01:07 PM

Cryptocurrencies On Sale: ChainLink and TRON Go Down, Bitcoin Is Stable

Wednesday's session is bringing a retracement in the market of digital assets, which is affecting the entire crypto market cap. Chainlink (LINK), TRON (TRX), and Tezos (XTZ) have been the biggest losers over the last 24 hours. They lost 9,7%, 8,7%, and 5,5% respectively. Bitcoins remains stable and one of the very few tokens among the top 20 that are still showing some gains, though modest ones.

Publication date: 16 September 12:04 PM

What's Next For Bitcoin?

Some analysts argue the future of Bitcoin, also known as the digital gold. Last week, the Winkelvoss brothers stated that the BTC price may skyrocket all the way up to 500.000 dollars per coin in the near future. This opinion is shared by Bloomberg analysts. But on the other hand, Bitcoin may see the opposite scenario, which is a major crash to make it as cheap as dirt.

Publication date: 10 September 03:00 AM

How To Get Ready For Bitcoin Boom 2020?

Cryptocurrencies keep on growing in value. If you are going to buy your first coins, this is what you should do first.
Publication date: 30 August 11:27 AM