GMTAuthor: Greg Michalowski

6

Stay above keeps the bulls in control

Adam pointed out the oversized gain in Ripple today. The digital offering rose some 77% from yesterday's close at the high.  Just when you thought cannibas would overtake digital currencies, the market in digital heats up again. Is it for real?
 

Of course the price of ripple did move down from a 2018 high of $3.317 to a low of $0.2451. So there are plenty of traders who have come and gone.  

Nevertheless, there is nothing like visions of even the February high at $1.2296. Percentage wise, that is still a great return.  

Of course visions may not be the reality, but in the high flying digital world, it is often the momentum and today is a momentum day.

Technically, today also turned the picture to more bullish.  More specifically, the price moved back above the 200 day MA at $0.5430.  

Why is that so important?

If you look back in time, the 200 day MA has been a real good barometer for bulls and bears (see green arrows).  The chart above shows times when the price tested the MA level, and saw a reactionary move.  

Back in December 2017, the price based against the 200 day MA before ROARING higher.  
In February 2018, the price came tumbling down and bounced off the MA line. Key bounce,and key indicator that traders are paying attention to the MA line. 

In March  and April and May, the price action moved above and below the MA line, but the market did use the line as a risk defining (and bias defining) level.  When I moving average is used by traders the way it has for ripple, it gives traders the tool to define and limit risk and also define bullish and bearish bias.   Traders use the line to lean against.    

The price has not really "sniffed" the line until today, and the "sniff" today was just in passing through the line.  That is bullish.  

It also helps traders define risk.  If you are long the XRPUSD, your risk is that line.  Stay above, and let the good times roll.   Move below, and go back into ripple hibernation (get out).

Looking at the hourly chart below, the low from the high today has reached down to 0.5769 on two occasions.  Are buyers leaning against the 200 day MA at 0.5430 area? I gotta think so. 


Look for buyers to stick there toe in the water ahead of that level. After all, ripple ripped higher and switched the technical bias around. If the run higher is a fraction of what happened in 2018, there is a long way to go.  



ForexLive

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Fri 21 Sep 2018 15:14:50 GMT

6

Ripple jumps 77% in a day, passes Ethereum as second-largest cryptocurrency

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Ripple jumps 77% in a day, passes Ethereum as second-largest cryptocurrency


//az705044.vo.msecnd.net/20180921/ripple.png Adam Button
Fri 21 Sep 2018 15:14:50 GMT
Category: Cryptocurrency
6


Ripple soars Sell pot stocks and buy crypto? Ripple is on fire today. It's up 77% in the past 24 hours to 0.652. It was as low as 0.25 earlier this week.

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GBP/USD Selling off 200MA
Asset 41
Thu 20 Sep 2018 08:14:35 GMT

3

ECB's Villeroy says that Bitcoin is probably a bubble

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ECB's Villeroy says that Bitcoin is probably a bubble


//az705044.vo.msecnd.net/20180920/20-9-2018-4-06-14-pm.png Justin Low
Thu 20 Sep 2018 08:14:35 GMT
Category: Cryptocurrency
3
ECB member Villeroy speaks in Paris - Bitcoin raises money laundering problems ForexLive The key word there isn't 'bubble' but 'probably'. For that to become a certainty, it would require price to slide below the pivotal support region just under $6,000:

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Thu 20 Sep 2018 02:49:02 GMT

1

New cryptocurrency platform, Elixxir to process thousands of transactions a second

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New cryptocurrency platform, Elixxir to process thousands of transactions a second


Eamonn Sheridan
Thu 20 Sep 2018 02:49:02 GMT
Category: Cryptocurrency
1
David Chaum has unveiled a new platform to speed trading of digital cash The Wall Street Journal carrying this (Elixxer news hit yesterday I believe?, but announced today in Singapore)

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Thu 20 Sep 2018 02:33:06 GMT

1

Japan authorities conducting emergency checks on cryptocurrency exchanges

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Japan authorities conducting emergency checks on cryptocurrency exchanges


https://az705044.vo.msecnd.net/20180920/japan-fsa-bitcoin.png Eamonn Sheridan
Thu 20 Sep 2018 02:33:06 GMT
Category: Cryptocurrency
1
Reuters with a headline highlighting customer assets:  - Japan's FSA conducting emergency checks on cryptocurrency exchange operators' management of customer assets Just that headline right now, nothing further. I suspect it is something to do with the hack news from overnight (see the big wobble in the chart below)

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Wed 19 Sep 2018 19:20:06 GMT

2

Who needs bitcoin when you have Tilray?

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Who needs bitcoin when you have Tilray?


//az705044.vo.msecnd.net/20180919/2018-09-19_12-00-05.jpg Greg Michalowski
Wed 19 Sep 2018 19:20:06 GMT
Category: Cryptocurrency
2
The new bitcoin and they have a product too The price of Tilray - a Canadian-based company and supplier of cannabis products to pharmaceutical distributors - is trading up $116 at $272 (it actually moved up to $300 but I am not that quick). The company went public in July at $17. The gain today is 73%. If you bought at the IPO, you would have a 15 bagger (15x gain).  Wow.

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Tue 18 Sep 2018 23:28:23 GMT

3

The wild west cryptocurrency market – more regulation on the way?

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The wild west cryptocurrency market – more regulation on the way?


https://az705044.vo.msecnd.net/20180918/btc-daily-chart.png Eamonn Sheridan
Tue 18 Sep 2018 23:28:23 GMT
Category: Cryptocurrency
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A UK government parliamentary committee says yes, in order to help combat crimes such as money laundering Daily BTC: Parliament's Treasury Committee More for the cyrpto folks

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Tue 18 Sep 2018 19:21:59 GMT

1

Most crypto exchanges aren't doing enough to prevent manipulation, New York AG says

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Most crypto exchanges aren't doing enough to prevent manipulation, New York AG says


//az705044.vo.msecnd.net/20180911/crypto-justice.png Adam Button
Tue 18 Sep 2018 19:21:59 GMT
Category: Cryptocurrency
1
New York Attorney General publishes report on crypto Crypto exchanges are vulnerable to manipulation and most aren't doing enough to protect users, according to a 32-page "Virtual Markets Integrity Report" today.

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Tue 18 Sep 2018 17:20:09 GMT

Bitcoin corrects up to 200 hour MA today. Seller lean and increase the MAs importance.

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Bitcoin corrects up to 200 hour MA today. Seller lean and increase the MAs importance.


//az705044.vo.msecnd.net/20180918/2018-09-18_10-15-09.jpg Greg Michalowski
Tue 18 Sep 2018 17:20:09 GMT
Category: Cryptocurrency
0
Keeps the bears more in control The price of bitcoin has seen a rebound today after the sharp fall lower yesterday. That fall, took the price below the 100 and 200 hour MAs  (blue and green lines). The low reached near the end of trading yesterday, fell short of the lows from September at $6116 to $6191. They remain targets for sellers.  The low reached $6207.  

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Mon 17 Sep 2018 15:57:22 GMT

1

Bitcoin cracks 200 hour MA and a lower trend line too

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Bitcoin cracks 200 hour MA and a lower trend line too


//az705044.vo.msecnd.net/20180917/2018-09-17_8-51-32.jpg Greg Michalowski
Mon 17 Sep 2018 15:57:22 GMT
Category: Cryptocurrency
1
Trend line at $6310.  200 hour MA at $6400. Risk levels now for shorts The price of bitcoin tumbled and is down about -$-250 on the day at $6253.24.  The price fell below the 100 and 200 hour MAs (blue and green lines - see earlier post ""). It has also now cracked below a lower trend line at $6310 (see chart below). That trend line and the 200 hour MA (at $6400) are now risk levels for shorts. 

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Mon 17 Sep 2018 14:02:16 GMT

Bitcoin dips below 200 hour MA. Sellers making a play.

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Bitcoin dips below 200 hour MA. Sellers making a play.


//az705044.vo.msecnd.net/20180917/2018-09-17_6-58-55.jpg Greg Michalowski
Mon 17 Sep 2018 14:02:16 GMT
Category: Cryptocurrency
0
Can the momentum continue The price of bitcoin just made a new session low at $6385 and in the process dipped below it's 200 hour MA at $6400.28. The price has moved back higher after the brief dip but the sellers are trying to make a play.  Can they get below and show some momentum below the key $6400 level.  Be aware. Key test by the market.

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Wed 12 Sep 2018 23:04:16 GMT

4

Mohamed El-Erian speaking blockchain, cryptocurrency - 'not dead'

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Mohamed El-Erian speaking blockchain, cryptocurrency - 'not dead'


https://az705044.vo.msecnd.net/20180912/bitcoin-usd-chart.png Eamonn Sheridan
Wed 12 Sep 2018 23:04:16 GMT
Category: Cryptocurrency
4
One for the bitcoin, the various cryptocurrencies, and techno people Allianz chief economic adviser Mohamed El-Erian interview: - "Crypto is not dead, and certainly the underlying technology is not dead"  On Bitcoin:

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Wed 12 Sep 2018 13:31:21 GMT

6

Why Ethereum is in freefall

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Why Ethereum is in freefall


//az705044.vo.msecnd.net/20180912/ethereum-chart.png Adam Button
Wed 12 Sep 2018 13:31:21 GMT
Category: Cryptocurrency
6
Ethereum at a 16-month low Ethereum is down nearly 10% over the past 24 hours and trading at $172. It's fallen in 10 of the past 11 days for a cumulative decline from $300. The July 2017 low was $136 and that's the last major support level.

Asset 24 View More
Tue 11 Sep 2018 19:03:52 GMT

1

You can't lie to people and steal from them just because you called it an ICO

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You can't lie to people and steal from them just because you called it an ICO


//az705044.vo.msecnd.net/20180911/crypto-justice.png Adam Button
Tue 11 Sep 2018 19:03:52 GMT
Category: Cryptocurrency
1
US judge says securities law applies to ICO The crypto market isn't having a great day, especially Ethereum, which is down 7% to $182 after falling as low as $176. That's a long way from $1400 back in January.

Asset 24 View More
Tue 11 Sep 2018 16:53:19 GMT

Bitcoin trades lower but consolidates

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Bitcoin trades lower but consolidates


//az705044.vo.msecnd.net/20180911/2018-09-11_12-38-40.jpg Greg Michalowski
Tue 11 Sep 2018 16:53:19 GMT
Category: Cryptocurrency
0
Below hourly technical levels. Below 100 day MA The price of bitcoin on Coinbase, is trading down about $50 at $6250 area. The low reached $6176 today, and the high extended to $6405. Although lower, the pair is consolidating near recent lows. 

Asset 24 View More
Mon 10 Sep 2018 14:03:54 GMT

5

Winklevoss twins get approval from regulators to launch Tether competitor

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Winklevoss twins get approval from regulators to launch Tether competitor


//az705044.vo.msecnd.net/20180910/winklevoss-twins.png Adam Button
Mon 10 Sep 2018 14:03:54 GMT
Category: Cryptocurrency
5
Gemini Trust Co will launch Gemini dollar One of the best cases for crypto might turn out to be facilitating dollar transactions outside of the traditional financial framework.

Asset 24 View More
Sun 9 Sep 2018 22:03:25 GMT

1

More news for cryptocurrency - US SEC suspends bitcoin tracker

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More news for cryptocurrency - US SEC suspends bitcoin tracker


https://az705044.vo.msecnd.net/20180909/0-bitcoin-chart.png Eamonn Sheridan
Sun 9 Sep 2018 22:03:25 GMT
Category: Cryptocurrency
1
Seccers working overtime  The US Securities and Exchange Commission says it is suspending trading in Bitcoin Tracker One and in Ether Tracker One, Hourly bitcoin prices in the candle chart. Is cleaning up the sector good for BTC or does the announcement effect see the price drop? And does the price just keeping dropping anyway? 

Asset 24 View More
Thu 6 Sep 2018 21:10:25 GMT

1

Goldman Sachs CFO says Bitcoin trading speculation is fake news

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Goldman Sachs CFO says Bitcoin trading speculation is fake news


https://az705044.vo.msecnd.net/20180906/btc-price-chart.png Eamonn Sheridan
Thu 6 Sep 2018 21:10:25 GMT
Category: Cryptocurrency
1
Goldman Sachs Chief Financial Officer Martin Chavez on reports the bank is shelving plans to trade cryptocurrency CNBC have the report here for more If he is trying to give the price a boost he may have to try a bit harder.... 

Asset 24 View More
Thu 6 Sep 2018 18:25:53 GMT

3

Bitcoin nears the big technical zone of support

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Bitcoin nears the big technical zone of support


//az705044.vo.msecnd.net/20180906/bitcoin-d.png Adam Button
Thu 6 Sep 2018 18:25:53 GMT
Category: Cryptocurrency
3
Bitcoin down 15% in 24 hours Two days of heavy crypto selling have pushed Bitcoin close to the brink of a technical breakdown. Yesterday many of the altcoins -- Ethereum in particular -- broke below the lows of the year in heavy selling. Bitcoin outperformed then but today it's more uniform selling throughout crypto.

Asset 24 View More
Thu 6 Sep 2018 07:03:41 GMT

1

Cryptocurrencies are taking it on the chin again today

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Cryptocurrencies are taking it on the chin again today


//az705044.vo.msecnd.net/20180906/6-9-2018-3-05-23-pm.png Justin Low
Thu 6 Sep 2018 07:03:41 GMT
Category: Cryptocurrency
1
A sea of red once again across the crypto score board ForexLive No reprieve for cryptocurrencies for a second straight day as even Bitcoin is being hammered today. While altcoins led losses yesterday, Bitcoin was somewhat shielded as the selling can be attributed to news that .

Asset 24 View More
Wed 5 Sep 2018 17:35:11 GMT

13

Cryptocurrencies aren't selling off because of Goldman Sachs

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Cryptocurrencies aren't selling off because of Goldman Sachs


//az705044.vo.msecnd.net/20180905/2018-09-05_13-14-50.png Adam Button
Wed 5 Sep 2018 17:35:11 GMT
Category: Cryptocurrency
13
The narrative is wrong The popular narrative today is that a shelving its plans to open a cryptocurrency desk is undermining confidence in cryptocurrencies as an asset class.

Asset 24 View More
Wed 5 Sep 2018 16:59:19 GMT

Ethereum crumbles below support in 15% drop to lowest since September 2017

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Ethereum crumbles below support in 15% drop to lowest since September 2017


//az705044.vo.msecnd.net/20180905/ethereu.png Adam Button
Wed 5 Sep 2018 16:59:19 GMT
Category: Cryptocurrency
0
Ethereum near a 12-month low Ethereum is crumbling. The second-largest cryptocurrency, which is often used in ICOs, is down nearly 15% today The plunge breaks the August low of $250 and takes it back to where it was last September. It's now down 82% from its highs.

Asset 24 View More
Wed 5 Sep 2018 16:19:43 GMT

3

Bitcoin tumbles but keeps above key 100 day MA

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Bitcoin tumbles but keeps above key 100 day MA


//az705044.vo.msecnd.net/20180905/1-2018-09-05_11-56-01.jpg Greg Michalowski
Wed 5 Sep 2018 16:19:43 GMT
Category: Cryptocurrency
3
Down over $350 on the day The price of bitcoin is trading down -$369 on the day at $6989.  The high reached $7384 earlier in the day. The low extended to $6903.

Asset 24 View More
Wed 5 Sep 2018 12:23:25 GMT

3

Goldman Sachs shelves plans to build a crypto trading desk - report

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Goldman Sachs shelves plans to build a crypto trading desk - report


Adam Button
Wed 5 Sep 2018 12:23:25 GMT
Category: Cryptocurrency
3
Crypto prices skid It's a tough day in cryptos with Ether leading the way lower in a 9.5% swoon. Bitcoin is down 5% to $6985. The latest round of selling comes after Business Insider reports that Goldman Sachs is halting plans to build a crypto desk in part because of a tough and uncertain regulatory landscape. In December, Bloomberg reported that they aimed to have the desk running by June.

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Tue 4 Sep 2018 21:11:50 GMT

3

China’s largest bitcoin mining company looking to raise up to $1bn (a pre-IPO)

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China’s largest bitcoin mining company looking to raise up to $1bn (a pre-IPO)


https://az705044.vo.msecnd.net/20180904/btc-chart-2018.png Eamonn Sheridan
Tue 4 Sep 2018 21:11:50 GMT
Category: Cryptocurrency
3
Bitmain Technologies is reputed to mine more than half the world's BTC s - The firm is seeking to raise up to $1bn in pre-IPO private funding - also considering an initial public offering The Financial Times , may be gated 

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