|Day's range||120.66 - 126.12|
|52-week range||28.22 - 473.21|
|Volume (24 hrs)||3.28M|
|Volume (24 hrs) all currencies||31.45M|
Bitcoin has had another range bound start to the day, with the bulls struggling to form a weekend rally to recover the week’s losses, as investors look for a reason to jump back in following the bearish moves through the week.
The alt coins that we follow here at FX Empire have struggled during the week as both Bitcoin and Ethereum have as well. Because of this, it makes sense that these markets have been a bit difficult to lift at these low levels.
Alt coins were relatively quiet during the trading session on Friday, and over the last several days have been somewhat stagnant. The question now is whether they are trying to make some type of base? That would of course be a very positive turn of events and could get traders excited about than once again. Both Bitcoin and Ethereum have shown signs of support as well, at least on the weekly charts. That could come into play over here.
The alt coins of course continue to react to both Bitcoin and Ethereum, which have been a bit noisy as of late. It looks as if we continue to see a specific moving average cause a reaction as well, so this at some a bit of technical clarity for the pairs that we follow.
Monero’s XRM was on the move this morning, supported by a broad based market rally, though whether the morning’s momentum can continue into the afternoon remains to be seen, the bears every present in the market.
The alt coins that we follow here at FX Empire are all struggling, and it looks likely that we are going to continue to go lower at this point. I think that rallies are to be looked at with suspicion, and I believe that there are plenty of sellers out there to punish the alt coins.
Alt coins initially tried to rally during the day on Tuesday but continue to struggle as there is a lot of volatility in the crypto currency markets. I think that the market will continue to be tough, but after the recent selloff, we certainly have developed a stronger bearish tone.
A Palo Alto Networks study has found that among 630,000 samples of crypto jacking malware, 530,000 of them were used to mine Monero (XMR) while 53,000 targeted Bitcoin (BTC) as another 16,000 targeted Cryptonite (XCN).
The crypto currency markets got slaughtered during the beginning of the week, as we have had increased government interference with exchanges. As the Bitcoin and Ethereum markets fell apart, the smaller markets of course did the same thing. That being the case, it’s not a surprise that there is no hope of this market turning around in the short term.
The Bitcoin Bears are back and Bitcoin’s slide through the morning was a spectacular one, with more on the horizon when considering investor sensitivity to regulatory chatter.
The alt coins continue to sell off during the week, as we continue to see softness in the minor coins as far as crypto currencies are concerned. Until Bitcoin and Ethereum can pick up the momentum, these coins will also struggle, as the liquidity just isn’t there.
The alt coins that I follow here at FX Empire have all fallen again during the day on Friday, as we continue to see a massive bearish pressure in these markets. The Bitcoin and the Ethereum markets have been struggling, and as long as that’s the case, these markets will struggle as well.
The alt coins that we follow here at FX Empire have seen a bit of bullish pressure during the day on Thursday, as markets rallied slightly. The alt coins of course are going to follow both Bitcoin and Ethereum as I have stated previously, and those markets are essentially flat with a slightly upward tilt during the day.
Bitcoin’s up in the early hours, though it’s been unconvincing, with Bitcoin needing to break back through to $7,700 levels to bring $8,000 levels into play, a pullback on the cards should Bitcoin hover through the morning.
Alt coins bounce around during the day on Wednesday, looking for direction as both Bitcoin and Ethereum struggled. I believe that the markets are trying to find their way, but overall alt coins will probably remain somewhat soft.
Another bearish start to the day to test the nerves of the crypto bulls as Monero’s XMR sees red early, calling on support at the 38.2% FIB Retracement Level of $165.57. The bulls will be hoping for an afternoon rally.
Alt coins rallied a bit during the trading session on Tuesday, going counter to the major crypto currencies such as Bitcoin and Ethereum. I believe that the market will continue to be negative overall, but obviously that can turn with the overall attitude of crypto currencies in general.
As per usual, when Bitcoin and Ethereum fall, the alt coin sector gets decimated. Monday was more of the same, as weekend traders that we are looking to get a jump on a potential move higher woke up to
Bitcoin’s in positive territory in the early part of the morning, with $7,700 the key target for the Bitcoin bulls today. Things could become quite bearish should Bitcoin tread water and fail to make a move.
The alt coins that I follow here at FX Empire continue to show signs of weakness over the last several trading days, as we simply cannot get any type of traction. Because of this, it remains an easy trade: cell every time at rallies.
Bitcoin continues to go back and forth in an overall downtrend. The candle for the week in both pairs that I follow has been rather neutral, so the question now is whether or not we are finding some type of support?
Alt coins fall again on Friday, as per usual. The three alt coins that I follow here for FX Empire continue to fall longer-term, and it appears that we ran out of steam at the most recent attempt for a bullish move. I think at this point, it’s obvious that selling is the only thing you should be doing when it comes to these markets.
Alt coins rally during the day on Thursday, as both Bitcoin and Ethereum rallied a bit during the day as well. That puts upward pressure on the alt coins as well, giving us an opportunity to realize gains in this area. The market looks very likely to follow right along and the futures well, and I think it’s only a matter time before that means lower.
The alt coins that I follow here at FX Empire all gained a bit during the trading session on Wednesday, as Bitcoin and Ethereum bounced slightly. Ultimately, I think that these will end up being nice selling opportunities, as the alt coins have been struggling right along with the major crypto currencies.