xtreamforex.com Posted April 3, 2018 Author Share Posted April 3, 2018 BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS – 03/04/18Bitcoin Cash managed to close out Monday in positive territory, gaining 3.37% to end the day at $662.9, partially reversing Sunday’s 5.98% slide, while bringing to an end 7 consecutive days of losses.The day was relatively less choppy than in recent weeks, with Bitcoin Cash seeing few sell-offs during the day and more importantly avoided an end of day pullback.While there will have been some relief from Monday’s gains, Bitcoin Cash failed to touch $700 levels for the first time since the December rally, with an intraday high $686.2 falling short of the day’s first major resistance level of $688.2 and 23.6% FIB Retracement Level of $730.27.Monday’s gains were certainly not impressive enough to suggest a reversal to the extended bearish trend formed back on 21st March, while an intraday low $636.4 managed to avoid testing the first major support level of $608.4.Following Monday’s gains, Bitcoin Cash was up 3.58% to $683.9, with investors brushing off an early morning $657 low, as sentiment across the cryptomarket continued to improve off the back of Monday’s gains.A morning $695 high tested the day’s first major resistance level of $687.27 early, with resistance at the psychological $700 level pinning back any move through to the day’s 23.6% FIB Retracement Level of $730.27.For the day ahead, a move back through to the morning high $695 would be needed to support a run at the 23.6% FIB Retracement Level, with such a move likely to begin signalling a short-term bullish trend formation that would draw in side lined investors looking to ride out the bearish trend formed on 21st March.Failure to break through to $700 levels could test investor appetite later in the day and lead to a pullback to this morning’s lows, though we would expect support levels to remain untested today, the key milestone for Bitcoin Cash being to move through to and hold on to $700 levels by the end of the day.Click Here To Read LITECOIN AND RIPPLE TECHNICAL ANALYSIS Link to comment Share on other sites More sharing options...
xtreamforex.com Posted April 4, 2018 Author Share Posted April 4, 2018 BITCOIN AND ETHEREUM PRICE FORECAST -04/04/2018The prices have stalled near the $7400 region as expected The BTC prices have rebounded as expected but they now seem to have hit a wall and again, this is something that we have been forecasting. The region around $7400 was a strong support and the break through this region had led the prices to slide towards the lows of the range below $7000. Now the prices are back in this region but have been finding it difficult to get a way through this region due to the strong selling that we have been seeing. The prices are likely to continue to face some strong resistance for the time being and this is going to be the biggest challenge for the bulls in the short term. Prices Stall The bulls need to show purpose and momentum and prove to the rest of the market that the momentum is on their side for them to get convinced and join them. Else, it is likely that the BTC market would be hit with a lot of selling in the short term which would then push the prices lower. If and when the bulls do manage to break through, more traders are likely to join their side and this snowballing effect would help to make the passage to the $7800 region smooth and quick as well. It remains to be seen whether they would be able to make the breakthrough today. Read More Technical Analysis: Click Here Link to comment Share on other sites More sharing options...
xtreamforex.com Posted April 6, 2018 Author Share Posted April 6, 2018 EUR/USD moves higher to 1.2280 ( US Session Updates ) The pair gathered extra traction on increasing USD-selling. USD plummets to fresh lows in the 90.20 region tracked by DXY. Rising US-China concerns revived the risk-off trade, hurting the buck. EUR/USD has found fresh buying interest and is now flirting with daily highs in the 1.2270/80 band. EUR/USD bid on risk aversion The selling pressure around the greenback is now intensifying after President Trump’s Advisor L.Kudlow stressed there is no timetable regarding US-China tarde negotiations, adding at the same time that the Chinese reaction to US measures has been so far unsatisfactory. Kudlow’s comments triggered a bout of risk aversion that accelerated the inflows into the safe haven assets, particularly the Japanese Yen, motivating a quick drop in USD/JPY with the resulting USD sell off. In addition, recent Non-farm payrolls seem to have given extra oxygen to the view of a more gradual interest rate path by the Federal Reserve in the next months (at least not as aggressive as previously estimated by market participants), all weighing down on the buck. Despite the ongoing squeeze higher, spot keeps the bearish note intact this week, retreating for the second week in a row to levels last seen in late February. The down move motivates once again the 1.2200 handle and the 1.2165/55 band to emerge on the investors’ horizon. EUR/USD levels to consider At the moment, the pair is advancing 0.20% at 1.2266 and a break above 1.2312 (10-day sma) would target 1.22346 (high Apr.2) en route to 1.2478 (high Mar.27). On the other hand, immediate support aligns at 1.2216 (low Apr.6) seconded by 1.2206 (low Feb.9) and then 1.2165 (low Jan.18). Read More Technical Analysis: http://www.xtreamacademy.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted April 9, 2018 Author Share Posted April 9, 2018 EUR/USD: BULL HAMMER AHEAD OF KEY EVENT RISKS THIS WEEK EUR/USD: the quiet before the storm, awaiting key data and political events. EUR/USD: daily sticks are leaning bullish, bull hammer formed. EUR/USD has been drifting sideways in a quiet start to what might turn into a storm on the back of economic and geopolitical events taking place. Meanwhile, the single unit is currently trading at 1.2272 with a high of 1.2279 and a low of 1.2265. USD was lower on Friday after the non-farm payrolls miss, despite slightly improved wages. The previous two months were revised net -50k, and the Fed expectations were dampened by the report. Powell was sticking to his rate path guns though and wasn’t prepared to speculate in regards to potential headwinds from trade war risks, pooer equities and high volatility. Trade wars are the dominant force – Westpac With a focus back to data, the German Retail Sales poor outcome and IP miss were not helpful in the case of the bulls and eyes will now turn to German Feb trade balance and EZ April Sentix index early this week. We also have US CPI and FOMC minutes, Summit of the Americas and the Boao Forum as further key risk events, the latter coming up tomorrow and will be monitored after risk soured on Friday when Mnuchin said there is the potential of a trade war with China leaving EUR/USD closing near 1.2290 for the week. EUR/USD levels Technical indicators lean bullish with the pair up after a new low was set and RSI diverging on new low with a bull hammer formed. and according to the 4 hours chart, the pair presents a neutral stance: “It settled above a now flat 20 SMA, while technical indicators are stuck around their mid-lines. Steady gains beyond 1.2300 could favor an extension up to 1.2370, while below 1.2250, the pair will likely extend its slide below the 1.2210 region.” Click Here Read More Analysis: Link to comment Share on other sites More sharing options...
xtreamforex.com Posted April 12, 2018 Author Share Posted April 12, 2018 AUD/USD FALLS BACK INTO 0.7750 AS INFLATION EXPECTATIONS, HOME INVESTMENTS FUMBLE · The Aussie is struggling to maintain bullish momentum as risk appetite sours and Aussie data falters. · The macro calendar is clear for the Aussie for the rest of the week and market sentiment is getting dragged down by the ongoing Syrian crisis. The AUD/USD is tripping back into the 0.7750 zone after the Aussie lifted into 0.7770 in the overnight session to challenge yesterday’s highs, but the move has been hobbled and the AUD/USD is backing away from the high on disappointing macro figures. Further reading – Australia inflationary expectations fell slightly in April Australia inflation expectations declined slightly to 3.6 percent from the previous 3.7 percent today, and after that Investment Lending for Homes only lifted by 0.5 percent, a decline from the previous 1.1 percent. Home Loans data beat the expected -0.6 percent forecast to print at -0.2 percent. The figure is an improvement over the previous reading of -1.1 percent, but still a declining number. The Aussie has rallied lately after China appeared willing to meet the US at the negotiation table based on Chinese President Xi Jinping’s words at the Boao Forum, but the market risk appetite is evaporating as Middle East tensions over Syria threaten to spill over in the UN. AUD/USD Levels to watch The pair is going to start challenging support if the decline continues, and as FXStreet’s own Flavio Tosti noted earlier, “the AUD/USD has rebounded from its 200-period simple moving average and is currently trading in the 0.7740-0.7773 range. Support lies at 0.7728, previous swing and at 0.7691 demand level. Resistance is seen at 0.7770 which is the high made on Tuesday and further up at 0.7845 swing low on March 13.” Read More: http://www.xtreamforex.com/ Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 11, 2018 Author Share Posted July 11, 2018 S&P 500 PRICE FORECAST – S&P 500 CONTINUES TO BUILD UPWARD PRESSURE The S&P 500 market has drifted a bit higher during the trading session on Tuesday, reaching towards the 2800 level above. I think that the market is trying to build up enough momentum to finally break out above there, but it’s going to take quite a bit of bullish pressure to do so. The S&P 500 has gone a little higher during the trading session on Tuesday, as it looks like we are ready to reach towards the 2800 level. I think that if we can break above that level, it’s likely that we are going to continue to go higher. Short-term pullbacks are buying opportunities, and with that being the case it’s likely that the 2770 level underneath will offer support, and most certainly the 2750 level will as well. If we do break above the 2800 level, the market is very likely to go higher, perhaps reaching towards the 2850 level over the longer-term. The S&P 500 will of course offer buying opportunities on these dips as the market certainly favors the upside overall. That’s not to say that it will be easy, but I think eventually we will go higher. Ultimately, the S&P 500 is a great barometer on the global market risk appetite, which seems to be doing a bit better over the last several days. The jobs number last week of course helped, so I think that the S&P 500 will continue to find plenty of value hunters on dips. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 11, 2018 Author Share Posted July 11, 2018 BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS – 11/07/18 It’s been a choppy start to the day as investors remain wary following 3 consecutive days’ of losses across the cryptomarket. The crypto bulls will be looking to steady the ship, though more losses may well be on the cards. Bitcoin Cash Steadies Bitcoin Cash fell by 5.77% on Tuesday, following on from Sunday and Monday’s losses, to end the day at $687.4. A start of the day intraday high $736.6 came up short of the day’s first major resistance level at $752.03 and continued to fall well short of the 23.6% FIB Retracement Level of $930, as Monday’s 2nd half of the day sell-off continued into the early hours of Tuesday. Bitcoin Cash fell through the day’s first major support level at $715.83 and second major support level at $702.67 to a morning low $687 before a late in the day pullback saw Bitcoin Cash fall to an intraday low $684.6, the only positive being that the day’s third major support level at $666.47 was left untested on the day. At the time of writing, Bitcoin Cash was up 0.19% to $687 in what’s been a relatively range bound start to the day, a morning low $685 and high $699.6 leaving the day’s major support and resistance levels untested. For the day ahead, a move through $702 would support a run at the first major resistance level at $721.13, with market sentiment to then dictate whether Bitcoin Cash can break back through to $750 levels to test selling resistance at the second major resistance level at $754.87. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 11, 2018 Author Share Posted July 11, 2018 US AM DIGEST: EUR DIPS ON ZEW SURVEY, GBP HAMPERED BY SOFT OUTPUT DATA Major Headlines German ZEW Survey hits 6 year low on trade war concerns UK Monthly GDP prints in line with expectations, output data disappoints. EUR: Among the underperforming currencies amid the bounce back in the USD index. Alongside this, German ZEW survey plunged to its lowest level in 6 years, consequently exacerbating the selling seen in EURUSD, which in turn led to a break below the 1.1700 handle. Elsewhere, Italy’s Savona, stated that it may depend on others whether Italy stays in the Euro, as such this saw Italian bond yields spiked higher, while the FTSE MIB retraced some of its earlier gains. GBP: The UK economy continued to pick up in May after the slowdown seen in Q1 amid the boost in service sector growth, while manufacturing and industrial activity data disappointed. The first look at the new monthly GDP report printed in line with expectations at 0.3%, while the yearly rate beat consensus at 1.5% (Exp. 1.4%). However, the soft industrial and manufacturing data prompted the selloff in the Pound, while domestic political uncertainty continues to keep GBP on the back foot. TRY: Once President Erdogan’s executive presidential system came into effect, the President no time in utilising his new powers. Firstly, Erdogan changed the Turkish Central Bank law, allowing him to appoint who he wants as deputy governors without the consent of the governor. Most notably Erdogan appointed his son-in-law as the new finance minister and removed the market friendly, Simsek and Al Babacan which prompted a sell-off in the Turkish Lira. As such, Erdogan has tightened his control over crucial policy areas without the involvement of qualified domain experts Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 12, 2018 Author Share Posted July 12, 2018 S&P 500 PRICE FORECAST – S&P 500 CONTINUES TO SHOW RESILIENCY he S&P 500 initially fell during trading on Wednesday, as it was announced late on Tuesday that the Americans would be looking to add $200 billion worth of tariffs on Chinese goods. However, we have seen a bit of resiliency during the day, and it looks as if the buyers still look to take advantage of dips. The S&P 500 has been very noisy overall lately, but when you look at the chart, it’s obviously a bullish market over the longer-term. I think that the market looks likely to find plenty of support below at the 2740 level anyway, so I think what we are looking at is a market that is trying to build up the necessary momentum to finally break above the 2800 level. I think that once we break above this area, the market will be free to go much higher. Dips should be thought of as momentum building exercises, and even though we are starting to see fears about trade wars heating out, the reality is that so far it has not stuck with traders as it has been very measured and seems to be thought out process. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 12, 2018 Author Share Posted July 12, 2018 AUSTRALIAN DOLLAR TICKS LOWER AS INFLATION EXPECTATIONS DO TOO AUSTRALIAN DOLLAR, INFLATION EXPECTATIONS, TALKING POINTS: Australian consumer inflation expectations slid in July Persistently low consumer price acceleration is among the Reserve Bank of Australia’s biggest headaches The Australian Dollar remains pressures The Australian Dollar slipped just a little on Thursday as official data found consumers even less concerned about inflation than they had been in the previous month. Consumer inflation expectations came in at 3.9% on the year for July, below the 4.2% seen in June. This probably will not please interest rate setters at the Reserve Bank of Australia. Low inflation is one of their key concerns at present and shoppers’ expectations of further price rises are a key component of policy. Annualized Australian Consumer Price Inflation has been below the RBA target band’s lower bound of 2% for most of the time since 2014. Its stubborn weakness is perhaps the main reason why local interest-rate futures markets fail to fully price even a single quarter-point increase in the record-low, 1.5% Official Cash Rate either this year or next. This contrast between this prognosis and the aggressive interest-rate hawkishness of the US Federal Reserve has weighed heavily on AUD/USD. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 12, 2018 Author Share Posted July 12, 2018 BITCOIN AND ETHEREUM PRICE FORECAST – BTC PRICES CONTINUE TO SLIDE The prices continued to move lower for another trend as the bearish trend in the markets continue to keep the prices under pressure. The BTC prices are well and truly back in range as the prices fall further towards the support regions and now we are seeing the prices trade in the $6300 region as of this writing. We would not be surprised if the correction continues and the prices move lower as the risks around the world recede and so we are seeing some of the funds being pulled out of the crypto market and being dumped into other markets which give better returns in due course of time. This is one of the reasons why we are seeing the prices move lower over the last couple of days after threatening to break through the $6800 region of resistance at the start of the week. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 16, 2018 Author Share Posted July 16, 2018 AUD FALLS ON CHINA GDP AS NBS SEES EXTERNAL UNCERTAINTIES AHEAD Australian Dollar depreciates despite solid Chinese second quarter GDP Weaker industrial production amidst US Chinese import tariffs hurt AUD China’s NBS does see more external uncertainties for the economy ahead The Australian Dollar depreciated against its major counterparts despite some relatively solid Chinese second quarter growth statistics. China’s economy expanded 6.7% y/y which was in line with expectations and slower than the 6.8% growth seen in the first quarter. Quarter-over-quarter, China’s GDP was 1.8%. This was better than the +1.6% estimate and up from 1.4% prior. Overall, these economic growth statistics were largely as expected and nothing extraordinary out of the realm of possibilities. Yet, what could have caused some weakness in the Aussie Dollar? And for that matter, the New Zealand Dollar as well? Look no further more than the industrial production figures which also crossed the wires simultaneously with the GDP data. In June, Chinese industrial production increased only 6.0% y/y versus 6.5% anticipated and 6.8% in May. That was the weakest outcome since March and continues a trend of slowing expansion since April. Perhaps the tariffs US applied on China could be having some effects here. In fact, accompanying the slew of data were some comments from the National Bureau of Statistics of China.Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 17, 2018 Author Share Posted July 17, 2018 GOLD PRICE FORECAST – GOLD SLUMPS AFTER INITIAL RALLY ON MONDAY Gold markets initially rallied during the day, reaching towards $1245 level before finding sellers again. Now that we have broken down after that initial rally, it looks as if there is still bearish pressure in the Gold markets that could come into play. Gold markets initially rallied to start the week, but ran into trouble at the 50 hour EMA, one of my favorite indicators. The slope of the moving average is lower, and it certainly looks as if the $1245 level is offering short-term resistance. However, I do see that there is a certain amount of demand near the $1238 level, so while I do think that we continue to go a bit lower, I think that it is a slow descent that we are probably going to see. Keep in mind that the US dollar has its part to play, so if it starts to strengthen, that will put bearish pressure on gold as well. I believe that the currency markets will continue to be very noisy, and with interest rates rising in the United States, it’s very likely that Gold will continue to struggle to make longer-term gains, at least at the moment. I believe that we will eventually see a turnaround, but I think it’s probably closer to the $1200 level where the longer-term players come into put money to work. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 17, 2018 Author Share Posted July 17, 2018 MARKET MORNING BRIEFING: GOLD IS STUCK NEAR 1240 FOR QUITE A FEW SESSIONS NOW STOCKS Dow (25064.36, +0.18%) and Dax (12561.02, +0.16%) both continue to trade higher. Dow seems to be neared to the upside resistance at 25250 on the daily candles whereas Dax is stable in the 12500-12700 region unable to move up sharply just now. Nikkei (22724.46, +0.56%) could face rejection near 22800 from where it may come off towards 22400-22200 again in the medium term. Only a break above 22800, if seen would be bullish for Nikkei in the longer run. Watch price action near 22800. Shanghai (2787.01, -0.96%) has not been able to break above 2850 and instead has come off from there. It could re-test 2750-2700 in the next few sessions while below 2850. Some chances of a possible sideways movement in the 2700-2850 region exists in the longer run. Nifty (10936.85, -0.74%) came off sharply yesterday but could get support in the 10900-10850 region which could again take the index higher towards 11100-11200 levels in the medium term. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 17, 2018 Author Share Posted July 17, 2018 BITCOIN AND ETHEREUM PRICE FORECAST – BTC PRICES SURGE The prices have surged higher due to support from some large investors and the improvement of fundamentals in the market. The BTC prices have got a boost over the last 24 hours and now the bulls are beginning to look quite threatening. The prices have been buoyant over the last week or so when compared to the previous weeks and over the last week, we have seen the prices make a move to push through the $6800 region a couple of times as well. They have been rejected so far but the point to note here is that the correction following the rejection has been pretty slow and shallow and the rebound has been quick and strong which shows that the bulls are slowly beginning to take control of the market. But the prices are still below the important resistance region of $6800 and this region is going to witness a huge battle between the bulls and the bears for control. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 18, 2018 Author Share Posted July 18, 2018 GBP/USD PRICE FORECAST – BRITISH POUND FALLS THROUGH SUPPORT The British pound fell during the trading session on Tuesday, due to suggestions that perhaps the UK was going to leave the EU customs union without a deal. At this point, it looks as if the market is trying to find whether there is enough support just below the 1.32 level to continue the recent bullishness. The British pound fell mid-day on Tuesday, slicing through the 1.32 level to show signs of weakness again. However, I think there’s even more support at the 1.31 level underneath to keep the market afloat. Overall, I think that the market continues to be very noisy, mainly because we are still not very sure how the whole Brexit thing is going to play out. Because of this, keep in mind that there will be headlines occasionally that will cause issues going forward. I do think that eventually the British pound turns around, but right now we are obviously in the throes of overreaction to every little rumor, so therefore the British pound is one of the most difficult currencies trade right now. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 18, 2018 Author Share Posted July 18, 2018 BITCOIN – THE BULLS ARE BACK! Bitcoin gives up early gains as investors lock in profits, though the losses are not large enough to pin back any hopes of further gains later in the day. Bitcoin rallied 5.59% on Monday, following on from the weekend gains, to end the day at $6,702.3. A particularly range bound start to the day saw Bitcoin’s intraday low $6,327.1 hold well above the day’s first major support level at $6,255.33, the early moves a consolidation of the weekend’s gains, before a mid-morning broad based cryptomarket rally saw Bitcoin surge through the day’s major resistance levels to an intraday high $6,750 before easing back late in the day. Following 6-consecutive’s of falling well short of the 23.6% FIB Retracement Level of $6,757, selling pressure was tested late in the day, with Bitcoin’s day end hold at $6,700 levels for only 3rd time this month providing some hope for the Bitcoin bulls of a bearish trend reversal forming. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 18, 2018 Author Share Posted July 18, 2018 GOLD PRICES MAY FALL FURTHER AFTER HITTING ONE-YEAR LOW GOLD & CRUDE OIL TALKING POINTS: Gold prices hit 1-year low after hawkish comments from Fed’s Powell Day 2 of Powell testimony, Fed Beige Book may sustain down move Crude oil prices may extend drop if EIA inventory data echoes API print Gold prices sank as hawkish comments from Fed Chair Jerome Powell pushed the US Dollar higher (as expected), undermining the appeal of non-interest-bearing and anti-fiat assets. He argued that despite recent worries about trade tensions, the economy remains in good shape and the best path forward continues to be a gradual increase in interest rates. Meanwhile, crude oil prices continued to edge lower following Monday’s sharp selloff. That move came amid reports that Saudi Arabia was planning to increase exports to Asia while speculation that President Trump might release some of the US’ strategic reserves continued. The latest round of weakness comes after legislation allowing the US government to sue OPEC for “price-fixing” was introduced in the Senate. Separately, the weekly set of inventory flow figures from API showed stockpiles added 629k barrels last week. Read more:www.xtreamforex.com Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 19, 2018 Author Share Posted July 19, 2018 GBP/USD PRICE FORECAST – BRITISH POUND CONTINUES TO DROP With all of the drama and noise around the United Kingdom over the last couple of days, it’s not a huge surprise that the British pound has taken it on the chin. However, as we saw the Americans come to work on Wednesday, the pair was testing a major support level. The 1.30 level has been important more than once, and I think at this point if the British pound is going make some type of stand, it’s here. The British pound has fallen again during the day on Wednesday, reaching towards the 1.30 level for major support. I believe at this point; the market probably looks likely to bounce as the 1.30 level is significant support. If we were to break down below the 1.30 level, that would be an extraordinarily negative turn of events, and I think it would break down the British pound significantly. I believe at this point, the market will continue to be difficult to deal with, but clearly if there is an area where we should see a lot of pushback. There has been a significant break down, and at this point it’s easy to suggest that perhaps we are a bit oversold. If that’s the case, a bounce towards the 1.31 level is very likely, where I would expect to see a significant amount of resistance as we had broken down below that level rather rapidly. I see a lot of supply at the 1.31 level, but certainly a short-term bounce would make some sense from these extraordinarily low levels. Read more:http://www.xtreamacademy.com/forex-forecast Link to comment Share on other sites More sharing options...
xtreamforex.com Posted July 19, 2018 Author Share Posted July 19, 2018 BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS – 19/07/18 It’s back in the red for the majors who are now relying on support levels to avoid a reversal of gains through the early part of the week. Holding on through the day will be key to avoiding a full reversal ahead of the weekend. Bitcoin Cash Back in the Red Bitcoin Cash fell by 3.33% on Wednesday, partially reversing Tuesday’s 6.41% gain, to end the day at $824.4, the losses bringing to an end 5-consecutive days of gains. Bitcoin Cash moved through to an intraday high $889.9 in the early hours of the day to test the day’s first major resistance level at $890.8 before pulling back to $870 levels and a relatively range bound late morning and early afternoon that left the day’s first major support level at $798.7 untested. A late reversal saw Bitcoin Cash slide to an intraday low $803.3, steering clear of the first major support level, while also pinning back any hopes of a break through to $900 levels to test the 23.6% FIB Retracement Level of $930. At the time of writing, Bitcoin Cash was down 1.51% to $811.6, with the late sell-off on Wednesday continuing into the early hours of this morning. Read more:http://www.xtreamacademy.com/cryptocurrency-news Link to comment Share on other sites More sharing options...
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