• Cryptocurrencies: 2073
  • Markets: 16056
  • Market Cap: $102152617135.56
  • 24h Vol: $9739460670.0746

End of Week Observations

The Week Starts, the Week Ends.

CryptoAssets are still fighting a 24 Hour, 7 Days a Week stigma that we are not a Ponzi scheme, we are not a pyramid scheme, we are in fact a legitimate market with legitimate instruments that see institutions flooding in every single day.

BlackRock and Fidelity, two names that flooded into the market this week, both interested or have been interested as was revealed by Fidelity whom have been mining CryptoAssets since 2015. Nonetheless, the fight continues for both market cap every single day and for actual individual to adopt the technology.

This fight will be harder especially with the on-going Tether uncertainty, where on Monday, it was assumed that Bitfinex was insolvent, but later this week, they weren’t, they were just dealing with a Tether-like-Bank Run Crisis.

Whilst the Nouvive team have been looking for the latest coins to invest and trade in, we have come to realise that Alts have grown $20 Billion over the past 3 months. Something previously overlooked. This has been the case seen the middle of June and August 15th.

Most Notable, $Nano, $ICX, $XRP & $ZRX.

XRP has proven to the market one thing, that despite retail traders running away (as explained by all time low Volume) the Traditional Finance market loves Ripple and what they are seeking to accomplish. The simple Swell Event in Early October saw a close to 100% pop on XRP, whilst 0x or ZRX addition to Coinbase saw a less than 49% pop. 1 Year to date, if the same thing occurred, ZRX would have popped close to 200% and XRP on Swell news the same amount.

Where is Bitcoin going over the Weekend? 

We are currently see dangerous support levels at $6372. It is safe to say that when we saw these levels on Tuesday, the Market pumped back up to its mean range levels of $6450. However, with CME Settlements closed as of yesterday and institutional based traders still net short with Market interest higher in Shorts, it appears that we could revisit $6170 over the weekend. More-so, the issues with Tether are still unsorted and a recent Binance exchange closure for Maintenance, could see a push down by 2%.

Bullish View: 

  • Last time these levels have been seen where on Tuesday with the market refusing to dump, instead pop’d 1% on the day back to $6450.
  • The bid/ask going all the way down to $6280 have buys in that area.
  • Historically BTC has not dumped following a closure of CME/CBOE – it is usually just before.
  • Shorts far outweigh longs by 2:1, this could be enough for a stop run higher.

Bearish View: 

  • Decreasing volume, increasing sell side supply illustrates a dump is going to occur shortly.
  • RSI Stochastic Illustrating a further dump, with it finishing around $6118.
  • Fragile Support area.

Nouvive recommends A long-term investor to wait for the areas of $6127 or $6053 to invest in the alt coin of their choice. 

A day trader has two decisions to make: 

  1. Catch the Knife and long from $6370, stop loss at $6350 and a take profit of $6450.
  2. Short from $6375, stop loss at $6407 and a take profit of 50% at $6053 and 50% at $6172.
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)
$3233.96
46.00 RSI
-0.68%
Hold
XRP (XRP)
$0.29
43.00 RSI
-1.36%
Buy
Ethereum (ETH)
$84.41
47.00 RSI
-0.23%
Hold
Tether (USDT)
$1.01
19.00 RSI
0.27%
Buy
Stellar (XLM)
$0.1
53.00 RSI
-3.02%
Hold
EOS (EOS)
$1.9
47.00 RSI
3.44%
Hold
Litecoin (LTC)
$23.76
46.00 RSI
1.21%
Hold
Bitcoin Cash (BCH)
$77.36
42.00 RSI
-3.74%
Buy
Bitcoin SV (BSV)
$68.17
48.00 RSI
-2.97%
Hold
TRON (TRX)
$0.01
34.00 RSI
-0.16%
Buy
Whats Your Bias this Week?