After correcting for the entirety of 2020 alongside a descending resistance line, the Ethereum Classic (ETC) price is in the process of breaking out from this line. However, a new bullish trend has not yet been confirmed. ETC/BTC Temporarily Breaks Out The ETC price had been following a descending resistance line since the end of […]
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On July 8, the Bitcoin (BTC) price broke out from a descending channel that had been in place since June 1. However, the price has stalled around the breakout level, raising concerns for the possibility that the breakout was not legitimate and the price will soon reverse its trend. Bitcoin Channel Breakout The Bitcoin price […]
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On July 8, the Bitcoin (BTC) price broke out from a descending channel that has been in place since June 1. While there is a possibility that the price is following a bearish fractal that could soon initiate a sharp drop, the high volume on the breakout suggests that the move might be legitimate. Bitcoin […]
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On June 25, the Litecoin (LTC) price broke out from a descending wedge. After retracing for a week, the price began an upward movement that is still ongoing. The Litecoin price had been trading inside a descending wedge since June 1. The price broke out from the wedge on June 25 amid a bullish engulfing […]
After a one-year-long period of consolidation, the Dogecoin (DOGE) price finally broke out on July 7. It initially increased by 100% in less than two days but has retraced slightly since. DOGE Breaks Past Resistance The DOGE price had been following a descending resistance line since October 2019, when the price reached a high of […]
The Bitcoin (BTC) price has been decreasing since it reached a high of $9,379 on July 7. Today, it broke out from a descending wedge, but could not sustain the higher prices. Bitcoin Short-Term Breakout The hourly chart for BC reveals that the price has been decreasing since a high of $9,379 reached on July […]
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The Ethereum (ETH) price is trading inside an important resistance area. A breakout above this level could trigger a rapid rally. Note: This article will focus on the ETH/BTC pair. For the ETH/USD pair, click here. The Ethereum price has possibly been following a descending resistance line since January 2019. The line has been validated […]
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Throughout the month of June, there’s been a very high degree of correlation between the S&P500 (SPX) and Bitcoin (BTC). The former is approaching a significant resistance area, while the latter has already reached its own resistance. S&P500 Long-Term Resistance A look at the weekly chart shows that the SPX is trading very close to […]
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The Stellar (XLM) price has been declining since reaching a high of $0.076 on June 4. However, on June 27, the price bounced inside a vital support area and has been increasing since. Ascending Support Line The XLM price had been increasing alongside an ascending support line since the March 13 bottom. The price broke […]
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