Weekly Technical Analysis 26.08.2017

www.tradescrypt.com’s Weekly Technical Analysis gives investors important insights on fundamentally strong cryptocurrencies which include Bitcoin, Ethereum, Litecoin, Ripple and AntShares(NEO).  It’s a quick read for investors at the start of the week which presents necessary statistics which could prove vital for considering investment position and making decisions during the week.

1.Bitcoin:

BTC-analysis-26.08.17.png

In spite of the seller resistance, Bitcoin has managed to stay above the USD $4000 mark which seems as the newly established floor. Investors have got in on 23rd and 24th when the prices were just above USD $4000. Bitcoin is currently trading at USD $4300. Investors who want to get in must wait for a short dip which we expect to occur in a few days.

Following are the statistical conclusions drawn from this week’s technical analysis:

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Note: Prices have changed significantly. Once the new floor is set, we can calculate the OTE and the risk/reward ratio.

  • Market Cap: USD $71,638,083,124
  • Circulating Supply: 16,527,225
  • Volume(24h): USD $1,503,230,000

2. Ethereum:

ETH-Analysis-26.08.png

Ethereum is gradually recovering its position which was lost during the Bitcoin fork period. It is trading at USD$330. Investors have entered on 24th and 25th when it was trading at around USD$320. We recommend this price as the OTE for the week which would ensure a good Risk/Reward ratio.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Market Cap: USD $31,766,976,757
  • Circulating Supply: 94,270,460
  • Volume(24h): USD $551,820,000

3. Litecoin:

LTC-analysis-26.08.17

Litecoin has crossed USD $50 mark. Investors who still want to get in must wait for a dip and get in at the blue buying region which would increase the Risk/Reward ratio significantly. Refer to our Litecoin fundamental analysis to understand the potential of the coin.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry (OTE): Around 0.00004650 BTC
  • Market Cap: USD $2,893,886,049
  • Circulating Supply: 52,646,932
  • Volume(24h): USD $325,010,000
  • Risk/Reward Ratio: 0.64

4. Ripple:

XRP-analysis-26.08.png

Ripple was trading at USD $0.16 which was a stable floor since the past few days. With the current price at USD$0.20, Ripple has displayed a growth of 25% even after the correction. With strong fundamentals and growing community, invest and hold is our recommended position. Risk/Reward Ratio for this would be significantly higher than our recommended threshold.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry (OTE): Around 0.00004650 BTC
  • Market Cap: USD $7,866,239,162
  • Circulating Supply: 38,343,841,883
  • Volume(24h): USD $177,526,000

5. NEO:

NEO-analysis-26.08

NEO has set a new floor of USD $35. We have observed a correction after NEO soared to USD$50. Risk/Reward Ratio at this point are greater than our recommended threshold. With strong fundamentals and growing community, invest and hold is our recommended position.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry(OTE): Around 0.00867554 BTC
  • Market Cap: USD $1,901,680,000
  • Circulating Supply: 50,000,000
  • Volume(24h): USD $41,663,900

Information sources-

www.coinigy.com
www.coinmarketcap.com

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Weekly Technical Analysis (31.07.2017)

www.tradescrypt.com’s Weekly Technical Analysis gives investors important insights on fundamentally strong cryptocurrencies which includes Bitcoin, Ethereum, Litecoin, Ripple and AntShares(NEO).  It’s a quick read for investors at the start of the week which presents necessary statistics which could prove vital for considering investment position and making decisions during the week.

1.Bitcoin:BTC Coiningy 31.07.2017

1st August is approaching and we have witnessed BIP 91 Lock-in. The prices soared beyond USD $2800. This was followed by a correction of about 50%. Bitcoin is now trending in the range of USD $2700. Following are the statistical conclusions drawn from this week’s technical analysis:
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  • Risk/Reward Ratio: 0.23 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): USD $2555-$2670
  • Market Cap: USD $45,317,854,582
  • Circulating Supply: 16,479,100
  • Volume(24h): USD $705,815,000

2. Ethereum:ETH Coinigy 31.07.2017

 

Ethereum fell from 0.8064551 BTC to 0.06839837. However, in the last few hours, the price has soared a bit. Risk/reward ratio has improved yet far from a desirable ratio as compared to last week’s ratio. Ethereum ranges at around 0.0707 BTC and red candle sticks indicate a fall which could result in a correction that has already crossed 50% mark to rise up to 60%.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 1.13 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.07011476-0.06953873 BTC
  • Market Cap: USD $18,450,340,515
  • Circulating Supply: 93,675,096
  • Volume(24h): USD $601,013,000

3. Litecoin:

LTC Coinigy 31.07.3017

Litecoin fell since last week. After a short rise, we see a correction beyond 75%. If seller resistance sustains, this is a very good time to buy. One could anticipate the prices to go further down before the next rise. We are still observing a lot of potential in Litecoin which makes it a good coin to invest in.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 3.24 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.0145804-0.0146539 BTC
  • Market Cap: USD $2,112,147,194
  • Circulating Supply: 52,243,757
  • Volume(24h): USD $75,520,500

4. Ripple:

XRP Coinigy 31.07.3017

Ripple has seen a low of 0.00005674 BTC after a high of 0.00006930 BTC. Risk/Reward ratio has improved a lot as compared to that of last week. In spite of such a dip, Ripple has managed to be the star performer of 2017 with the growth of almost 4000% this year. Q2 growth of 2017 is beyond 1000%. With strong fundamentals and growing community, invest and hold is our recommended position.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 1.16 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.00005868-0.00005833 BTC
  • Market Cap: USD $6,330,824,924
  • Circulating Supply: 38,333,090,674
  • Volume(24h): USD $41,488,000

5. NEO/AntShares  (02.08.2017):

ANS Coinigy analysis

Antshares, now known as NEO has shown a straight spike earlier today. This was a good exit for short term gainers. We have mentioned the OTE for investors who would still want to put their money on this cryptocurrency.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry(OTE): 0.00259614 -0.00257465 BTC
  • Market Cap: USD $386,283,000
  • Circulating Supply: 50,000,000
  • Volume(24h): USD $14,750,900

Information sources-

www.coinigy.com
www.coinmarketcap.com

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Weekly Technical Analysis (24.07.2017)

www.tradescrypt.com’s Weekly Technical Analysis gives investors important insights on fundamentally strong cryptocurrencies which includes Bitcoin, Ethereum, Litecoin, Ripple and AntShares(NEO).  It’s a quick read for investors at the start of the week which presents necessary statistics which could prove vital for considering investment position and making decisions during the week.

1.Bitcoin:


Last week was a good week for Bitcoin HODLers / investors. We witnessed BIP 91 Lock-in. The prices had dipped below USD $2000. This price dip had exposed panic sellers while HODLers / investors benefitted from the ‘Buy & Hold’ position. After the Lock-in, the prices soared touching the USD $3000 mark.

Following are the statistical conclusions drawn from this week’s technical analysis:
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  • Risk/Reward Ratio: 1.33 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): USD $2690-$2710
  • Market Cap: USD $44,634,172,796
  • Circulating Supply: 16,466,225
  • Volume(24h): USD $917,334,000

2. Ethereum:

Ethereum fell from 0.10468 BTC to 0.082969. We witnessed a deep dive to 0.078271 earlier last week, which was a good entry point. With the addition of mega enterprises like MasterCard, Cisco Systems, Scotiabank and government bodies like Andhra Pradesh State Government (Indian State Government) accepting Ethereum blockchain, we believe Ethereum has the potential to become the top player.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 0.93 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.080697-0.0811797 BTC
  • Market Cap: USD $20,859,469,134
  • Circulating Supply: 93,509,610
  • Volume(24h): USD $588,710,000

3. Litecoin:

Litecoin fell since last week. Prices dipped from 0.021253 BTC to 0.016184 BTC. Recently, LocalCoinATM announced Litecoin support on Bitcoin ATMs in Toronto, Canada. We are still observing a lot of potential in Litecoin which makes the current prices a good entry point for cryptocurrency investors.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 2.8 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.016127-0.016271 BTC
  • Market Cap: USD $2,266,141,385
  • Circulating Supply: 52,141,232
  • Volume(24h): USD $209,066,000

4. Ripple:

Ripple has seen a low of 0.00006553 BTC after a high of 0.00008714 BTC. In spite of such a dip, Ripple has managed to be the star performer of 2017 with growth of almost 4000% this year. Q2 growth of 2017 is beyond 1000%. With strong fundamentals and growing community, invest and hold is our recommended position.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 0.31 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.00006745-0.00006816 BTC
  • Market Cap: USD $7,291,599,229
  • Circulating Supply: 38,291,387,790
  • Volume(24h): USD $111,551,000

5. AntShares:

With AntShares’ rebranding event on the charts, last week has been a great week for AntShares. It shot right from 0.0026667 BTC to 0.00331513 BTC. Rebranding and support / influence in China are the key factors to observe while analyzing this cryptocurrency. It is firmly believed to be China’s Ethereum.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 1.51 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.0307167 -0.03028972 BTC
  • Market Cap: USD $413,683,000
  • Circulating Supply: 50,000,000
  • Volume(24h): USD $29,621,300

Information sources-

www.coinigy.com
www.coinmarketcap.com

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