Bitcoin Cash Technical Analysis: BCH/USD bulls break stubborn resistance to gains over 5%

Bitcoin Cash price on Wednesday seen up some 5% in the latter part of the session. BCH/USD bulls have cleared a long-running descending trend …
  • Bitcoin Cash price on Wednesday seen up some 5% in the latter part of the session.
  • BCH/USD bulls have cleared a long-running descending trend line, leaving door open to greater upside.

BCH/USD 15-minute chart

  • Price action has broken out to the upside from a pennant pattern structure.

Spot rate: 132.81

Relative change: +5.02%

High: 134.94

Low: 126.58

Trend: Neutral

Support 1: 118.55, daily pivot point support.

Support 2: 109.72, daily pivot point support.

Support 3: 103.51, daily pivot point support.

Resistance 1: 133.59, daily pivot point resistance.

Resistance 2: 139.81, daily pivot point resistance.

Resistance 3: 148.63, daily pivot point resistance.

BCH/USD 60-minute chart

  • Price action is moving within the confinements of a range block formation.

BCH/USD daily chart

  • BCH/USD daily edges over long-running descending trend line, but still stuck in stubborn daily range.

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Aurora Cannabis Inc. (ACB): Don’t Forget to Observe This Stock:

Aurora Cannabis Inc. (ACB):. The Institutional ownership of the firm is 6.28% while Insiders ownership is 3.09%. Aurora Cannabis Inc. (ACB) stock …

Aurora Cannabis Inc. (ACB):

The Institutional ownership of the firm is 6.28% while Insiders ownership is 3.09%.

Aurora Cannabis Inc. (ACB) stock price registered the value at $6.19 by scoring a change of -3.88% at the end of Tuesday trading session. The recent trading activity revealed that the stock price is at 58.72% off from its 52-week low and traded with move of -50.58% from high printed in the last 52-week period. The Company kept 929.45M Floating Shares and holds 965.11M shares outstanding.

The earnings growth rate for the next years is an important measure for investors planning to hold onto a stock for several years. The company’s earnings will usually have a direct relationship to the price of the company’s stock. EPS growth quarter over quarter stands at 2862.40% and Sales growth quarter over quarter is at 259.70%.

Aurora Cannabis Inc. (ACB) stock recent traded volume stands with 16793168 shares as compared with its average volume of 17018.38K shares. The relative volume observed at 0.99.

Trading volume, or volume, is the number of shares or contracts that indicates the overall activity of a security or market for a given period. Trading volume is an important technical indicator an investor uses to confirm a trend or trend reversal. Volume gives an investor an idea of the price action of a security and whether he should buy or sell the security.

Volume analysis is used by technical analysts to determine the strength of price movement, as some believe price follows volume. For example, if the price of a stock is going up, but volume is declining, it can be a bearish signal. On the hand, if price is declining and volume is rising, it is definitely a bearish sign.

Shares price moved with -23.77% from its 50 Day high and distanced at 35.15% from 50 Day low.

Trend Following Tool:

Moving averages are usually a trend following tool. As they are a lagging indicator, they can tell us that a trend has started only after it already happens. The closing price is considered the most important price level of the trading day and is the figure most commonly used in calculating a moving average. A midpoint can also be used. Some technical analysts use an average of the high, low and closing prices. Price bands can also be created by averaging the high and low prices separately.

It goes without saying that investors should not rely solely on any one technique. However, applying moving-average strategies in conjunction with portfolio diversification and prudent money management may reduce one’s risk substantially.

Aurora Cannabis Inc. (ACB) stock moved up 9.43% in contrast to its 20 day moving average displaying short-term an upward movement of stock. It shifted 4.17% up its 50-day simple moving average. This is showing medium-term optimistic trend based on SMA 50. The stock price went below -5.78% from its 200-day simple moving average identifying long-term downward trend.

David Culbreth Category – Business

David Culbreth is a self-taught investor that has been investing in equities since she was a senior in college and continues to invest. He is extremely devoted to demystifying investing terminology for new investors.

David Culbreth is a senior author and journalist. He has more than 5 years of experience in institutional investment markets, including fixed income, equities, derivatives and real estate. David has a Bachelor in Business Administration with a major in Finance. He bought his first stocks in a private business at age 15 and made his first public stock trade at 23. He has always been interested in the stock market and how it behaves.

As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. David observations and experience give him the insight to stock market patterns and the investor behaviors that create them.

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Bitcoin (BTC), Ethereum (ETH), XRP (Ripple) and BCH Top Coin Price Watch (January 22)

From yesterday’s open at $119.2 the price of Ethereum has like Bitcoin been stuck bouncing inside a range from those levels which are around the …
Bitcoin (BTC), Ethereum (ETH), XRP (Ripple) and BCH Top Coin Price Watch (January 22)

BTC/USD

From yesterday’s open at $3596 the price of Bitcoin has been bouncing inside of a range between there which was the range resistance line to $3556 which is a lower support level of the mentioned range.

Today the price went on to increase after the second interaction with the lower support level and from there it up to $3648 where it is currently sitting which is an increase of 2.54%. But since the price has encountered some resistance at the current levels it is in question if the rise will continue for much longer.

Looking at the 15 min chart you can see that the price has broken out from the mentioned range on the upside and has also broken the prior horizontal support (interrupted purple line) and is currently inside the prior range from which a breakout occurred previously with strong momentum.

The wave structure looks impulsive although I don’t believe that its the start of an impulsive move altogether, it is more likely that this is a retest of the prior support level for resistance which is why next I would be expecting an interaction with the 0.382 Fibonacci level or in price terms at $3666, before further downtrend continuation.

As the previous move was an impulsive move to the downside this is the 4th wave to the upside before another drop according to my Elliott Wave count, so after it ends I would be expecting that the price falls to the next Fibonacci level at $3499.

ETH/USD

From yesterday’s open at $119.2 the price of Ethereum has like Bitcoin been stuck bouncing inside a range from those levels which are around the range resistance level to $115.65 which is the range support level. The price came down today to $112.34 at its lowest spike which ended as a wich even on the 15 min chart which means that the dip activated buying since the price has been on the rise since and is currently at $120.22 which is an increase of 0.97% from yesterday’s open.

On the 15 min chart, you can see that the price is currently above the 0.382 Fibonacci level and is retesting it for support from the upside. This is a result of a breakout momentum that occurred after a quick dip, which was pushed the price above the range resistance levels and slightly above the mentioned Fibonacci level.

The price is on the intersection between the horizontal Fibonacci level and the descending channels which can be seen on a higher time-frame, resistance line which is why we are seeing a cluster forming. This indicates a struggle between buyers and the sellers but as the momentum is bullish we might see further breakouts to the upside but wicks from the upside on the current candles don’t bring a lot of confidence in that scenario.

I would be expecting an immediate rejection from these levels and further downside as the final Z wave should end significantly lower than the current levels, potentially all the way down to $102 per ETH.

XRP/USD

On yesterday’s open the price of Ripple was at $0.32283. From there the price fell at first since it interacted with the resistance level to $0.31889 which was the first support line of the range in which the price of Ripple was bouncing throughout most of the day.

Since the price interacted with the ranges’ support level another increase was made this time slightly higher than on the opening price as the price came up to $0.32498. Onward the price fell again to the support level of the range but this time slightly lower than the previous low as it came down to $0.31819 which was close to the today’s open.

Today the price went on to increase again but after it came to the prior high lower level it fell this time even lower to $0.3157 and even spiking further down to $0.31 but the buyers have immediately brought the price back up to above the support line of the mentioned range, and ultimately this led to a breakout from the range on the upside as the buying momentum was caught.

On the 15-min chart, you can see that the price action has created an expanding triangle out of the previous horizontal range since the price created higher highs and lower lows. Looking at the wave structure I have outlined that the current upward move must be the third corrective structure to the upside which means that after it ends more downside would be expected for the price of Ripple.

More downside is expected due to the fact that the price has been in a Minor WXYXZ correction from 24th of December when the price of Ripple experienced the impulsive move in which more than 60% recovery has been made, and as the previous structure to the upside was most likely the second wave X, the final wave Z should push the price to around $0.3 which is the price target.

BCH/USD

From yesterday’s open at $122 the price of Bitcoin Cash has fallen today to $120 at its lowest point. From there, an increase occurred as the price is currently around $130 level.

Looking at the hourly chart you can see a similar chart pattern like in the case of other analyzed coins except I have labeled it differently. According to these alternative labelings which I have chosen to display can also be applied to the previous analysis.

What is different in this scenario is that the Minute X wave ended today on the dip which we have seen al more or less all cryptos. This could be highly possible since the impulsive move that we have seen on t14th of January, Monday last week, resembles the current one which could be interpreted as the Y wave because of the similarities in momentum.

If we are to project the W wavelength on to the assumed X wave ending point we come up with a target of $133.3 for the Y wave which would be slightly lower than the ending point of the W wave, which is only natural considering that the X wave is also lower than the starting point of the W wave.

Ultimately in every scenario, the same implies – this would be only either a prolongation of the second wave X or the start of the final Z wave to the upside out of which the current upside movement is the corrective wave.

The target price for the expected decrease would be around $104 area which is where the most significant horizontal support line is below the current one.

Overall Market Outlook


Disclaimer: The technical analysis and prices quoted here are not meant as investment advice. Do your own research before investing.

Tron Price Analysis: TRX Is Best Performer Among Top 10 Cryptocurrencies

Tron has returned to being the top performer among high market cap cryptocurrencies. It has appreciated around 5% over the past 24 hours, …
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Tron Daily Chart – Source: Tradingview.com

Tron has returned to being the top performer among high market cap cryptocurrencies.

It has appreciated around 5% over the past 24 hours, outperforming all major peers.

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Price action has been forming more bullish, and this increase has resulted in the daily price action forming a higher low.

Price is close to forming a higher high but is currently meeting resistance at $0.028.

Price has met resistance at this point in the previous trading.

$0.028 to $0.031 was a key area of liquidity during bearish drops which took place in August for Tron.

Tron Hourly Chart – Source: Tradingview.com

Similarly to other top cryptocurrencies, Tron underwent a bearish drop in earlier price action today.

Price found buyer liquidity around $0.0248 which has been a point of consolidation a number of times in the past for price action as seen on the hourly chart.

Since the bearish drop, the price has been recording bullish movements.

The same price action is being seen in other top cryptocurrencies such as Bitcoinand Ethereum, but Tron is managing to outperform these.

Tron has been outperforming other top cryptocurrencies recently during price increases.

Key Takeaways:

  • Tron exhibiting similar price action to other top cryptocurrencies with a bearish drop earlier in the day followed by bullish movements.
  • Tron is the top performer among all major cryptocurrencies by market cap with a 5% increase over the past 24 hours.
  • Price is currently meeting resistance as it approaches $0.028. $0.028 to $0.031 was an important area for Tron price action during bearish price movements in August.

Latest Tron News:

DISCLAIMER:Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

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Ethereum Price Forecast: Ether Could Rally Above $120

Ether’s price is showing recovering signs against the US dollar and bitcoin. ETH/USD is likely preparing for an upside break above the $120.00 barrier …
Aayush JindalJanuary 22, 2019 4:14 PM
January 22, 2019 4:14 PM
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Ether’s price is showing recovering signs against the US dollar and bitcoin. ETH/USD is likely preparing for an upside break above the $120.00 barrier in the coming sessions.

Key Highlights

Ether’s price dipped toward $112.00 before recovering sharply against the US Dollar.

ETH/USD could accelerate gains once it settles above the $120.00 resistance on the 2-hour chart.

ETH/BTC tested the 0.0322BTC support and later corrected above 0.0328BTC.

Technically, the 2-hour chart indicators are rising sharply toward midlines in the bearish territory.

Ether Price Analysis

The past few days saw a lot bearish moves below the $120.00 support in ETH/USD. The pair even dove below the $115.00 support and tested the $112.00 support area, where buyers emerged.

ETH/BTC declined further below the 0.0325BTC support and tested the 0.0322BTC support. The pair is currently recovering, and it seems like it could break the 0.0330BTC and 0.0332BTC resistance levels.

Ethereum Price Analysis ETH

Starting with the 2-hour chart of ETH/USD, the pair dipped sharply below the $115.00 support and formed a new weekly low at $111.84. However, the price action suggests that Ether was rejected near $112.00, resulting in a sharp recovery above the $115.00 pivot level.

The price traded above the $116.00 level and the 38.2 percent Fibonacci retracement level of the recent decline from the $128.07 high to $111.84 low. Ether is currently trading near a crucial hurdle around $120.00, a bearish trendline at $119.00, and the 50 percent Fibonacci retracement level of the recent decline.

Should Ether settle above $120.00, the price could move into a bullish zone toward the $125.00 and $128.00 levels. Moving down to the 30-minute chart of ETH/USD, the pair recently broke a declining channel, with resistance at $117.50.

Ether Price Analysis Chart

The current technical structure is positive, but if there is a downside correction, the broken resistances near $118.00, $117.50, and $115.00 are likely to act as supports.

Overall, Ether is likely preparing for a decent recovery, but a successful break above $120.00 is required. If ETH/USD buyers fail to gain momentum above $120.00, the pair might retreat and decline to $115.00 or $112.00.

Important Resistance Levels

$120.00 and $122.00

Important Support Levels

$115.00 and $112.00

2-hour RSI

The RSI is moving higher toward the 45 level.

2-hour MACD

The MACD is about to move into the bullish zone.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

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