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      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

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      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

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      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

      featured image

      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

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      Home Crypto Market

      Cryptocurrency Market Weekly Outlook #2

      Hitesh Malviya by Hitesh Malviya
      January 28, 2020
      in Crypto Market, Trade Signal, Trading
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      cryptocurrency weekly market outlook #2
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      According to last week’s cryptocurrency market outlook- Bitcoin dropped to 8200-8300$ and the price bounced from this area and closed last week above 8600$. From our last week’s altcoins recommendation – ICXBTC hit 20% Profit, ADABTC position is at decent profits and DGDBTC is trading close to entries.

      Here goes the #2 edition of cryptocurrency market outlook.

      BTCUSD

      BTCUSD – Daily (Bitstamp)

      Bitcoin dropped from 8800$ to 8200$ Last week but found support at 8200-8300$ on weekends, price bounced from this support and week closed above 8600$.

      Last week also closed above 21MA on Daily and weekly timeframe both – that’s a bullish sign for the current week.

      Going into the current week, I am expecting Bitcoin to retest 200MA at 8900$ in the next few days. If Bitcoin manages to break above this MA resistance than we could see bitcoin’s price above 9400$ by end of this week.

      ETHUSD

      ETHUSD – Daily(Kraken)

      ETHUSD dropped to 157$, but the price bounced off from this area and closed last week’s candle above 166$.

      ETHUSD price also bounced from the downtrend channel neckline support area – which is ideally bullish Sign. ETHUSD managed to hold 21MA support as well on a daily timeframe.

      I am expecting ETHUSD to retest 200MA support around 172-175$, Break above this area could lead the price to 185$.

      Top 3 altcoins to trade this week

      1. HC/BTC

      HC/BTC is trading above 100MA resistance, also above horizontal resistance around 0.00017 BTC. HC/BTC could try to break above the next resistance at 0.00019 BTC in next few days.

      HCBTC Chart
      HCBTC(Daily) – Binance

      Trade Signal

      Entries: 0.00015-17 BTC

      Exit: 0.00019-21 BTC

      STOP: 0.000135 BTC

      2. EOS/BTC

      EOS/BTC is trading inside a bull flag/ symmetric triangle which can lead to breakout above 0.0005 BTC.

      EOSBTC chart
      EOSBTC – Daily(Binance)

      Trade Signal

      Entries: 0.00041-43 BTC

      Exit: 0.00049-53 BTC

      STOP: 0.00039 BTC

      3. RLC/BTC

      RLC/BTC is trading inside an ascending triangle. IF RLC manages to break above 0.000062 BTC then it could test 0.00007 BTC Resistance.

      RLC/BTC – Daily (Binance)

      Trade Signal

      Entries: 0.000057-61 BTC

      Exit: 0.000069-74 BTC

      STOP: 0.000054 BTC

      Check this out, Important article regarding Chinese new year holidays-

      https://itsblockchain.com/how-bitcoin-can-perform-during-chinese-new-year-holidays/

      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

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      Tags: EOS/BTC tradingHC/BTC tradingRLC/BTC trading
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