• Cryptocurrencies: 2356
  • Markets: 19407
  • Market Cap: $288151208471.2
  • 24h Vol: $81869900321.864

Daily Observations: Bullish/Bearish Bitcoin Call

Bitcoin took a 200 point turn to the upside. Nouvive was right. The temporary Bottom is here

 

The Bitcoin increase saw the rest of the Altcoin market shoot up by an average of 8% according to the Aeries indicator. 

The Most notable increases were: 

  • IOTA 
  • DASH
  • NEO
  • DGB
  • GAS 

Both NEO and GAS shot up as a result of approval that NEX will go ahead and start their Initial Coin Offering. 

IOTA shot up based on technology implements that were carried out successfully. 

Coin to watch out for: 

EOS – The Market did not take into account their technological vulnerabilities, instead shot up by close to 6% and will continue to do so, surprisingly. 

Where is Bitcoin going today?

 

Bullish Example: 

  • Volume is decreasing, illustrating a bullish move is about to happen 
  • Above all the MA’s – Using the 15 Moving Average, a notorious support/resistance line as support. 
  • Bullish Market sentiment 
  • 15% of Shorts have decreased over the past 3-4 Days. 

Bearish Example: 

  • Heavy resistance 
  • Decreasing volume, several attempts of Bitcoin trying to go above $7000
  • A lot of sell side support as you look into the higher $6000’s and Lower $7000s
  • RSI Stochastic Oversold 

A Bullish example would be Bitcoin breaching $7000, going straight to $72000 like in earlier August. 

A Bearish Example would be Bitcoin retracing following highly oversold conditions and CME Settlement date occurring this friday, back to $6500. 

In Nouvive’s Opinion, following a unsustainable increase, Bitcoin will take the more negative approach and retrace by 3 per cent to the Middle $6600’s. 

 

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)
$10633.58
55.00 RSI
8.30%
Hold
Ethereum (ETH)
$225.43
61.00 RSI
5.31%
Hold
XRP (XRP)
$0.32
51.00 RSI
2.67%
Hold
Litecoin (LTC)
$99.96
58.00 RSI
9.26%
Hold
Bitcoin Cash (BCH)
$313.89
49.00 RSI
5.14%
Hold
Binance Coin (BNB)
$28.97
41.00 RSI
6.10%
Buy
Tether (USDT)
$1.01
23.00 RSI
0.15%
Buy
EOS (EOS)
$4.12
60.00 RSI
4.05%
Hold
Bitcoin SV (BSV)
$134.86
53.00 RSI
9.61%
Hold
Stellar (XLM)
$0.09
70.00 RSI
8.14%
Hold
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