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  • Bitcoin
    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

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    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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    • Bitcoin
      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

      featured image

      How Bitcoin can be hacked?

      keep bitcoin safe

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

      featured image

      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 Trade Signal

      Cryptocurrency Market Weekly Update #5

      Hitesh Malviya by Hitesh Malviya
      February 17, 2020
      in Trade Signal
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      According to our last cryptocurrency weekly update :

      • Bitcoin reached 10500$, and dropped to 9650$ before week close.
      • Last week altcoins recommendations – QSP,ZIL hit 20-30% Profits.

      Now Let me present #5 edition of weekly market update.

      BTCUSD – Bitcoin Technical Analysis

      BTCUSD – 1D (Bitstamp)

      Bitcoin is currently trading below 9800$, It recorded a 9.3% drop in value last week, Bitcoin price started dropping after finding resistance at the 10400-10600$ range. On a daily time frame, Bitcoin is still trading in an eight-week old uptrend channel Bitcoin has tested channel resistance at 10550$, and currently approaching to retest channel support at 9500-9600$. Last time, Bitcoin managed to bounce from this channel support during previous retest on 25th Jan.

      9500-9600$ is a key support level to watch out for now, If Bitcoin lose this support than Bitcoin could retest 8800-9200$ support Range before any significant bounce.

      Please not 8550$ and 9250$ are also two lower CME Gaps which are not filled yet.

      If Bitcoin manages to stay above channel support at 9600$, then we could a see a clear break above 11000$ in next few days.

      ETHUSD – Ethereum Technical Analysis

      ETHUSD – 1D (Bitstmap)

      Ethereum managed to pulled off a very bullish weekly close. Ethereum recorded 21.5% growth last week despite of losing 18.5% value on weekends. Ethereum is clearly leading this bull run against both pairs – BTC, and USD.

      240$ is a key support level to watch out for now. Ethereum could try to break above key resistance level at 270$, If ETHUSD fails to break 270$ then price could drop back to 240$. As long 240$ holds as support, Ethereum could bounce back and continue its run to 310$.

      But in case of Losing support at 240$, Ethereum price could drop back to 210$ before any significant bounce to the upside.

      Top 3 altcoins to trade this week

      Altcoins saw an average drop of 15% during Bitcoin sell off on weekends. Before you look into buying altcoin dips. I would suggest you to read out our Bitcoin Dominance Analysis.

      Now let’s discuss Top 3 altcoins for this week.

      POEBTC

      POEBTC -1D (Binance)

      Trade Signal

      Entries – 0.00000020 – 0.00000025 BTC

      Exit: 0.00000030 – 0.00000036 BTC

      Stop: 0.00000017 BTC

      FUELBTC

      FUELBTC -1D (Binance)

      Trade Signal

      Entries- 0.00000030 – 0.00000040 BTC

      Exit- 0.00000050 – 0.0000006 BTC

      Stop- 0.00000025 BTC

      STORMBTC

      STORMBTC -1D (Binance)

      Trade Signal

      Entries- 0.00000012 BTC – 0.00000017 BTC

      Exit- 0.00000021 – 0.00000025 BTC

      Stop- 0.00000010 BTC

      Also, Check out Top 5 altcoins to buy in February.

      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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