Crypto Frontline

BTCUSD Coinbase

Bitcoin had quite a choppy week, with either buyers or sellers managing to fully take control over the order flow. The price action had been volatile, with brief selloffs followed by a response from the buy-side.

However, the downside had been contained around the key $9,500 area and as long that zone won’t be broken, we suspect the price will resume on the upside impulsively. The first area stands around $10,500 and a break above it can unlock further upside potential.

On the flip side, a breakout below this week’s low will be a negative sign and could point out to further downside before we see another leg higher. It’s also worth mentioning that the relationship with the 1h chart 200 moving average seems to have changed. For the past week, the Bitcoin price had traded below the MA most of the time and that indicates sellers have a slight advantage.

ETHUSD Kraken

Since mid-February Ether had been trading inside a range, following a very impulsive move that took the price close to the $300 mark. The price had tested again the bottom of the range on February 20^th and since then it started to move strongly on the upside.

Looking ahead, we suspect Ether will retest the upper line of the range, located around $288 and that’s where traders should be patient and look for new clues. Stronger selling will suggest the consolidation will continue will a break above the 2020 high will open more room towards the $320 area.

Only if the range breaks on the downside should we expect more selling towards $220, but right now that’s the less likely scenario from our point of view. This looks to be just a corrective move following an impulsive one, rising the odds the price will continue on the upside in the near-term.  

BCHABCUSDT Bittrex

Bitcoin Cash ABC is one of the Bitcoin forks that had been very active in the past few weeks, mainly because it will go through a halving as well. The event is scheduled to take place before the May 12^th set for Bitcoin and that’s why we’ve seen volatility increasing.

The past week had seen the price losing momentum right after reaching the $485 key resistance area. As we can see from the chart, the broader picture suggests a bullish parabolic structure could be unfolding and now the price looks to be locked in an ascending triangle.

From an order flow perspective, the triangle suggests the buyers are stepping in at higher levels and that could point towards more gains ahead. In the meantime, we should wait and see how the price will unfold. There’s a huge buying opportunity around the $300 area or selling around $485.

Briefings about ICOs

Dain is an IEO based in Spain, running on Latoken until February 27^th, 2020. It promotes an ERC-20 token that will be used to power a next-generation artificial intelligence platform, specialized in addressing and solving issues related to AI.

Sheng World is an IEO from Singapore that will start on Probit from February 26^th until March 1^st. It represents a B2B4C (business-to-business for consumers) platform for lifestyle, wellness, and healthcare industry.