Yesterday, cryptocurrencies were holding at the top of the range set by their last thrust. This early morning Bitcoin, after being rejected again from $8,700 it has retraced with strong volume to the support area we devised yesterday. XRP and Ethereum are also close to our targeted area. The 24H heat map shoes an almost generalized sell state on all assets, with the notable exception of ALGO (+9%). 


The market capitalization dropped -2.65% to $226.15 billion, and the 24H traded volume descended to $32.5 billion, although it experienced an increase at the beginning of the selling spike. Bitcoin dominance is currently 66.4%.

Market Cap


Hot News

People's Bank of China continues hiring tech experts for the team managing its digital currency project. The institution is looking for experts in computing, microelectronics, and cryptography.

SimplyVital, a New England-based blockchain company, won a US National Science Foundation grant of $225,000 to develop an integration of its Nexus protocol with Graphene protocol. The company should look to find a way to reduce healthcare costs through the use of blockchain technology to access data. Source:

Perth Miny, Australia's leading precious metals refinery, has partnered with blockchain company InfiniGold to create an ERC-20 token, which they claim is the first blockchain token to be backed by government-guaranteed gold reserves. The token is named the Perth Mint Gold Token (PMGT). Source:

Unicef became the first UN body to launch a cryptocurrency fund.  The goal of this fund, titled UNICEF Cryptocurrency Fund, is to allow receiving, holding, and distribute donations made in Ethereum and Bitcoin. Source:


Technical Analysis



On the 4H chart, we see that Bitcoin has made a spike that attempted to break the $8,700 resistance, but instead, it created a selloff. That can be perceived because the drop happened with a large volume.  The price closed at the target we set yesterday (8,390). The current candle kept descending, although it is bouncing off from the vicinity of $8,300.

This state is critical for the mid-term wellbeing of this currency.

The current technical outlook neutral.  If the close of the current candlestick, which will take place three hours from the moment of this writing, move the price again to the upper side of the Bollinger band, the upward momentum remains there.  To the downside, the next support level will be $8,200, which holds the 50-period MA, and also is the 50% retracement of that last movement that started from the $7,750 bottom.



Ethereum is mimicking the price action of Bitcoin closely. After moving in the top range of its bullish movement, it dropped on strong volume from the $196 resistance level and moved to touch our target level in one go.  The current candle is bouncing off from this area, but it is still in development. 

The volume of the sell candle is very large, which means a lot of stop-loss orders made by the buyers were caught in this movement. We need to observe how the current candle closes since we want to know if the selloff was made by the fear of the weak hands or is the beginning of another dump by smart traders.

If the current candlestick creates a large lower wick and the $196 level holds, we estimate that buyers would come to move the price up.  On the short side, we see the price could find support at $180, which is currently in the vicinity of the 50-period MA.



Ripple has been retracing since it made a second top in our light blue region near $0.285. The last candlestick made with higher volume has bounced in the vicinity of our target area, close to the crossover of the moving averages.

The technical indicators still show the price in a corrective descending action ( MACD  and Bollinger Bands descending and the price moving below the -1SD line).  The shadowed blue area it still acts as support as the 200 and 50 moving averages indicate this is a consensus price for investors. Still, to go long, we think the price needs a period of consolidation and evidence of MACD and Bollinger Bands moving upwards.



100% Anonymous Trading on EagleFX - Trade NOW!

Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: $ 7,265 to cap any bounce amid rising wedge breakdown

Bitcoin (BTC/USD) is trading little changed so far this Saturday, having run into stiff resistances aligned near 7,265 on its multiple upside attempts. Rising wedge breakdown is spotted on hourly sticks, with bears eyeing 7,075. However, a rebound cannot be ruled out in the near-term.

More Bitcoin News

Litecoin technical analysis: Bearish bias intact while below $ 45.50

Litecoin (LTC/USD) is back in the red zone on Saturday after two straight days of tepid bounce. Despite the latest knockdown, the coin remains in a familiar trading range between $ 45 and $ 43. 

More Litecoin News

Bitcoin Cash price prediction: Eyes on $ 215, with bull pennant on hourly sticks

Bitcoin Cash (BCH/USD) built on Friday’s rebound before entering a bullish consolidation this Saturday, as the bulls await a fresh impetus for the next push higher. 

More Bitcoin Cash News

Cryptocurrency market update: Selling wave returns, Santa rally still on sight?

No relief for the crypto markets, as sellers return on Saturday. Ethereum – the main laggard amongst the top three dominant cryptocurrencies. 

More Cryptocurrencies News


Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast