This is a new section on AltcoinTrading that will have only USD and BTC charts from Bitfinex for selected cryptocurrencies with Fib retracements drawn on them and some brief commentary. It's going to be updated every day around 2AM UTC but it will stay under this current link so you can bookmark it to check for updates. The latest update date will always be in the headline.
If there is no chart update it means the current charts are still relevant to the ongoing price action.
Cryptocurrency Price Action Comments
- Fundstrat’s Tom Lee sees more pain before recovery
- Lightning for Bitcoin mainnet is out
- As you surely heard, Google regulated crypto ads
- Monero dumped the hardest, Apple removes XMR mining apps from the App store, XMV fork is delayed
- Bitfinex is building a DEX on EOS - EOSfinex
Links to the last trade & settlement dates for both CME and CBOE futures are in the sidebar. There can be some unusual action on the BTCUSD markets during those times which can mess with the altcoin ratios. For now the volume on there is small though.
Fib retracement for BTCUSD
BTCUSD Comment: Bitcoin bounced off its high-volume support from a previous meaningful range (blue dotted line) for now. The next resistance is a fib line coinciding with some short term sideways history area around 8700. Scaling down to shorter timeframe reveals oscillators jumped up to the overbought territory way too fast to take down that resistance and continue up.
Fib retracement for SANUSD
SANUSD Comment: Santiment is (not surprisingly) moving similarly to bitcoin, however, but the volume indicator PVT here is leaning a bit more bullish. It is way too soon to make any conclusions out of that though.
Fib retracement for ETHUSD
ETHUSD Comment: Ethereum dropped out of all ranges, still a way to go to a high volume support around 415 though (blue dotted line).
Fib retracement for ETHBTC
ETHBTC Comment: In the ratio, ETHBTC already sits at a high volume support. This one was hard to break up, if it breaks down now things might get ugly.
Fibs in a spreadsheet
Strategy, Security, Airdrop updates & more is now also reposted to Cryptolounge, our publication on Medium.com.