Crypto Frontline

BTCUSD Coinbase

As we’ve anticipated a week ago, the Bitcoin price retested the November lows, but unexpectedly, dip buyers jumped in impulsively and drove the price higher. The impulsive move pushed the price above the 1h chart 200 MA and since then sellers did not manage to take it below.

Looking at the broader picture, this could turn out to be double bottom formation, with the neckline located around $7,880, based on the Coinbase charts. A breakout above that level could lead Bitcoin towards $9,100 in the following weeks.

We need to see the breakout outside the range in order to have a confirmation for the legitimacy of the pattern. In case that won’t be the case, we expect Bitcoin to continue to fluctuate between $6,500 and $7,880. We are now in the final days of the year and liquidity is very thin. In principle, the volatility should gradually shrink, but any unexpected event is not excluded.

ETHUSD Kraken

Ether extended the drop impulsively, due to a Chainalysis report that provided inaccurate information, but despite that, the price action had become choppy around the key support area we’ve mentioned a week ago. The price spent a limited time below the area, confirming there was interest to buy around it.

The 4h chart bearish channel continues to be in play, despite a fake breakout below it, which leaves the door open for a continuation higher in the upcoming weeks. Even though we think volatility will drop during the last days of the years, Ether has the potential to edge higher, towards the 4h chart 200 moving average, or the $152 resistance area.

Only in case of a breakout below the current December low, we could see further momentum on the downside, but that seems to be the less-likely scenario right now.

TRXUSD Bitfinex

It seems like 2019 will be a net-negative year for Tron, based on the opening price we saw on January 1^st, but longer-term, the token seems to be in a bottoming formation that may prove to be very profitable.

Weeks ago, we’ve managed to anticipated correctly a bullish move towards the 2.1 cents area and since then the price retreated lower, now trading close to the 2018 lows. Let’s see whether the sellers will manage to retest the low located around 1.1 cents and if they do, that could be a huge opportunity for long-term value buyers to step in.

Only an impulsive break lower followed by weak buying could negate our view, but given the underperformance seen this year, 2020 might end up to be more positive for Tron. Keep in mind that we’re talking about a move that may unfold during months, not a few days.

Briefings about ICOs

SyncroBit is a UK-based ICO that will end its ICO on December 28. The project wants to develop a digital assets trading platform for trading all kind of assets of cryptocurrencies, energy, precious metals, commodities, with both fiat and major cryptocurrencies.

On January 5^th, Muse Protocol, a US-based project, will start its IEO on the Lukki platform. It aims to develop an autonomous and transparent means of royalty distribution and media rights ownership.