• Cryptocurrencies: 3104
  • Markets: 20888
  • Market Cap: $240419450157.39
  • 24h Vol: $63326965091.403

End of Week Observations

Bitcoin

 

Early this week, We Saw Bitcoin jump from $6,400 to $7,300 within the space of 2 hours. This occurred during the close of New York. The Nouvive team always understood that when Bitcoin tested the previous resistance of $6,800, it would go to $7,000 at the most. However, as a result of Order Book Valuing, the close of close to $10Mn worth of shorts at the same time, caused the ride up.

For Next Week, the week starting the 23rdJuly 2018, Bitcoin currently sits in a sideways period, waiting for a small push, Nouvive sees that there will be a push down to $6,730, before closing the month above $7000.

What about August 10th?August 10this when the SEC approves or denies the Bitcoin EFT by CBOE. This makes It the fourth time this year that a major Broker has applied for a Cryptoasset based ETF.

According to sources close to the SEC, there is a “90 per cent chance” the ETF will happen.

How dos that effect you?

 

  • Major Institutions have a higher chance of entering the Crypto-Asset Market
  • There is a custodian and a legal operator, meaning it is safer for them to operate with CBOE.
  • The Market this week already in both the CBOE and Coinbase news, that is what caused the 10% spike.
    • We may see a further 4-7% Spike as more retail investors enter into the market.

ETH

 

ETH had a 7% spike downwards, this is negative news for all. 75% of Crypto-assets are tethered or based on the Ethereum blockchain, meaning negative market conditions for ETH translates to the smaller coins.

 

What about other coins?

Today, the 21stof July 2018, VeChain had a 10% Bounce, this was clarified by the Head Trader and Artificial Intelligence used by Nouvive as a Dead Cat’s Bounce. This is when there is a short cooling off period, before a period of increased selling. Meaning, there is a continued period down.

 

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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ViFeed Indicators

Bitcoin (BTC)
$8801.53
45.00 RSI
0.56%
Hold
Ethereum (ETH)
$186.51
42.00 RSI
-0.18%
Buy
XRP (XRP)
$0.27
21.00 RSI
-0.03%
Buy
Bitcoin Cash (BCH)
$289.41
43.00 RSI
1.06%
Buy
Tether (USDT)
$1
15.00 RSI
-0.03%
Buy
Litecoin (LTC)
$61.71
39.00 RSI
-0.13%
Buy
EOS (EOS)
$3.48
48.00 RSI
0.01%
Hold
Binance Coin (BNB)
$20.4
49.00 RSI
1.88%
Hold
Bitcoin SV (BSV)
$132.96
56.00 RSI
0.86%
Hold
Stellar (XLM)
$0.08
45.00 RSI
0.74%
Hold
Whats Your Bias this Week?