• Cryptocurrencies: 3988
  • Markets: 22831
  • Market Cap: $260526270372.56
  • 24h Vol: $51106031235.989

Market Updates: Daily Observations BTC-ETH Price Forecast

  • BTC this morning shot up by 1% before falling back by 0.4%
  • XRP shot up less than 0.4%
  • The rest of the Altcoin Market moved up by an average of 6%

Breaking. For Immediate Release 

Yesterday news came on the wire that Coinbase has been accepted by the DFS or the Department of Financial Services New York to create and run a Coinbase Trust.

This will allow them to offer custody services or to hold coins in cold storages for Institutions for six of the following coins:

  • BTC
  • BCH
  • ETH
  • ETC
  • LTC
  • XRP

The most notable and eye-raising addition was XRP. XRP has been excluded from Coinbase, the exchange for the past 9 Months. It is unknown why they have done so, going as far to overlook them to include coins such as ZRX or 0X – Another Decentralised Exchange and a ERC-20 token.

The mere fact that they have included XRP into the Custody implies that they would have applied in early January, before they decided to list other tokens. Moreover, as they already list 5 of the 6 coins listed above, it applies that XRP could be listed soon.

Coinbase usually release statements on Thursday’s when they list coins.

What about the rest of the Market? 

  • Decreed will be listed today on Binance.
  • GVT have several fundamental changes that they will set to launch on the 31st of this month. This caused the coin to skyrocket more than 40%.
  • MFT or Mainframe has been spotted by Nouvive as the next coin that will skyrocket as it earlier broke out of accumulation.

Where is BTC going today? 

  • The coin at 6am GMT +0 or UCT 5AM broke out of its current range, rising more than 1% before cooling off.
  • This implies that BTC will seek to retest the upper ranges of $6400, potentially peeking over $6500 as the chart implies.
  • The volume has continued at its lowest in almost a year.
  • Moving Averages 15 and 55 have crossed over – perhaps explaining the 1% move.
  • All three, 15,55 & 90 crossing over could see BTC shoot over $6800.
  • Institutions trades can be seen on Commitment of Trades where there are heavy indicators implying that they are majority turning long as a result of bullish news – BAKKT.
  • BAKKT is also being released on the 12th December – implying that the market could shoot up.
  • Heavy Open Interest favouring longs.

Nouvive sees a Bullish movement today towards $6500-$6512.

Where is ETH going Today? 

  • Larger Plays within the CryptoAsset community has signalled their Bearish faces when they decided to lock up close to 1 Million Ethereum’s in cold wallets.
  • Ethereum over the past 1 Week has been unable to see above $205.
  • ETH is currently resting on top of the 15 Moving average.
  • We may see as a result of the On Balance Volume that we will dip back below $197.50, perhaps filling the gaps shown at $192.
  • Volume is well below the 90D average, indicating a large move downwards will occur.

Nouvive is bearish as a result of the recent price action towards Ethereum. As a result we would take a short position. 

There is a 86% chance that it will go down to $192.50 over the next week.

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.

Show Your Views:
  •  (0)
  •  (0)
  •  (0)
  •  (0)

ViFeed Indicators

Bitcoin (BTC)
0.00 RSI
Ethereum (ETH)
0.00 RSI
Tether (USDT)
0.00 RSI
0.00 RSI
Bitcoin Cash (BCH)
0.00 RSI
Bitcoin SV (BSV)
0.00 RSI
Litecoin (LTC)
0.00 RSI
Cardano (ADA)
0.00 RSI
Binance Coin (BNB)
0.00 RSI
Crypto.com Coin (CRO)
0.00 RSI
Whats Your Bias this Week?