• Cryptocurrencies: 2127
  • Markets: 17757
  • Market Cap: $178518974991.82
  • 24h Vol: $44063689672.721

Start of the Week Observations

Daily Observations of the Week starting 6th August 2018

The Weekly close happens on Sunday Night at 1AM GMT time. The close illustrated to us two things:

  1. Bitcoin does not want to drop lower than $7,000, however at the time of writing, Bitcoin keeps jumping between the Middle $6,900’s and $7,100’s. 
  2. Ethereum does not want to see the April Lows Again. 

However, as prudent investors, we must understand and appreciate that each time CME/CBOE futures have settlement dates, Bitcoin sees lows of $6,400. The last time we saw such a low figure

it took us to $5,700. Premium members of Nouvive see the CME/CBOE artificial manipulation article

Let’s take a look at the recent volume, currently Bitcoin’s volume over the past 1 week has been falling, we must also consider that both CME/CBOE are settling their Bitcoin Futures.

Every time, there is a settlement date nearing Bitcoin always tests the lower $6000’s. It is in the Nouvive’s Chief Trader’s opinion, that Bitcoin will fall into the lower $6000’s, especially considering the latest COT or Commitment of Traders data released by CBOE/CME.

The data illustrates that those who were previously in long positions, closed those positions. Moreover, there were shorts that were covered when Bitcoin hit the middle $8000 position, meaning $3,000,000 USD worth of Shorts closed

It is of Nouvive’s Opinion that Bitcoin will see the low $6,300. 

What about Ethereum? 

Ethereum refused to close the weekend below $400, representing excellent news for Investors. If Ethereum closes the next week above $420, this represents a refusal to see the April Low of $350, and the start to both the middle $800 level and the start of a Mini-Alt Season.

The Above Puzzle Piece illustrates that Ethereum needs to see a weekly close above $420 with the RSI Stochastic bottoming out to a perfect level. 

What about Alternative Currencies and ICO’s? 

 

HOTChain saw a 30% Bump during the Asian Close. 

XRP will see a positive bounce over the course of the following month on news of their charitable operations.

DXChain is trading slightly above their ICO price, despite being still in their ICO stage. This is based on the Futures options. 

 

 

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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367

ViFeed Indicators

Bitcoin (BTC)
$5253.2
41.00 RSI
-0.72%
Buy
Ethereum (ETH)
$171.91
34.00 RSI
-0.15%
Buy
XRP (XRP)
$0.33
38.00 RSI
-2.96%
Buy
Bitcoin Cash (BCH)
$296.04
40.00 RSI
-5.01%
Buy
Litecoin (LTC)
$81.23
68.00 RSI
0.36%
Hold
EOS (EOS)
$5.44
29.00 RSI
-1.51%
Buy
Binance Coin (BNB)
$21.65
56.00 RSI
6.55%
Hold
Tether (USDT)
$1
14.00 RSI
-0.15%
Buy
Stellar (XLM)
$0.12
43.00 RSI
-2.08%
Buy
Cardano (ADA)
$0.08
30.00 RSI
-4.90%
Buy
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