Saturday, November 16, 2019

Ethereum Continues Its Consolidation as the Market Reaches the Terminal Point

 Key Highlights
Ethereum had been in a sideways move since August and fluctuates within the price range of $160 and $200

 Currently, it is consolidating within the levels of $180 and $195

The consolidation is nearing a point of a bullish breakout

Ethereum (ETH) Current Statistics

The current price: $185
Market Capitalization: $20,158,617,441
Trading Volume: $7,870,098,688
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis November 14, 2019
The ETH/USD pair had been range-bound move after the last bearish impulse in August. In the first instance, the price made an upward correction which was resisted at the $220 price level. Consequent to that, the coin nosedived to the previous low at $160. Presently, the coin is fluctuating between the levels of $160 and $200. Recently, in October after the bulls took control of the price, the coin is now consolidating between the levels of $180 and $195.

Every time the market tests the $195 resistance, the coin will retrace to a low at $180. This has been the price situation in recent times. Nonetheless, if the price breaks the $200 price level, ETH will rally to $220. Also, if the upward move is sustained above $220, Ethereum will recommence its uptrend movement. Then we can say that the coin is out of the range-bound zone. Meanwhile, the fluctuations will continue as long the coin is within the current price range. 

ETH Technical Indicators Reading
The coin is presumed to have reversed as the bulls have broken the downtrend line. The price is trading above level 51 according to the RSI period 14. This signifies that the coin may rise.

Presently, Ethereum is consolidating beneath the resistance line of the channel. To be precise, the coin is fluctuating between the levels of $180 and $195. We believe that if the bulls break the resistance line of the channel, ETH will rise and revisit the previous high. It is unlikely for the bears to breach the support line of the channel because the downtrend line has been broken.



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Tuesday, November 12, 2019

Bitcoin Fund is Likely to be scheduled on the Canadian Stock Exchange

An Investment company in Canada, 3iQ Corporation has submitted for the Bitcoin Fund asset on the Canadian Stock Exchange. The Ontario Securities Commission (OSC) board has initiated the OSC manager to issue an acceptance for the closing brochure of the fund. Mr. Fred Pye, President of 3iQ Corporation indicated that the company has been working on the asset and products for some time. 

The company intends to arrive at a product that will be satisfactory to all shareholders. Nevertheless, the company has resolved the question of pricing, safekeeping, and inventory in a regulated economy. The company may soon commence operation and has collaborated with Gemini Trust Company LLC; a New York-based exchange as the caretaker of the Bitcoin Fund.

Bitcoin (BTC) Price Makes a Pullback May Retest the Previous High of $10,000

 Recently, on October 26, Bitcoin price rallied from a low of $7,400 to $9,800 price level. It was a surprising rally as the bears were stunned below the $8,000 price level. However, the BTC price made a pullback after being resisted at the $10,000 price level. The market is now in a period of consolidation above the $9,000 price level. 

After a period of consolidation, the coin may encounter a price breakdown or breakout. On the upside, if the $10,000 resistance level is breached, the market will reach the highs of $12,000 or $13,000 resistance levels. Conversely, if Bitcoin falls, the market will drop to a low of $7,400 or $7,200 support levels.

Trading realities: Trading realities 

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Thursday, November 7, 2019

Range Resources to continue its downwards movement

Range Resources Limited stock (LSE:RRL) is generally weak, and the downwards movement may continue. There was a large upswing in early September, but since then, things have been coming downwards gradually.

The ADX period 14 is slightly above the level 20, meaning that the momentum is fairly strong. The DM- is below the DM+, which means bear is still strong.

MACD default parameters, has both its signal lines and histogram below the zero line. All the above indicators readings are clearly visible with closer inspection.

On further selling pressure there is going to be some increase in the current Bearish Confirmation Pattern, which would balloon into something significant.

Unless there is a radically and protractedly bullish outbreak, RRL is supposed to continue going further downwards, especially when strong momentum returns to the market.

Trading realities: Trading realities 

Petro Matad price analysis: Within the maniacal movement, MATD remains weak

Petro Matad Limited shares (LSE:MATD) are to continue its bearish, random movement. The recent movements in the market have been bearish and this would most probably continue.

There was a gap up in October 2019, and following that, price has been coming downwards gradually. There is a tendency for price to move below the EMA 21, while the Williams’ % Range period 20 is almost pointing downwards (and it may eventually turn downwards).

It is most likely that the last gap in the market would eventually get filled, bringing the market further downwards. Therefore the targets for the next several months are 3.00, 2.00 and 1.00.

Yes, Petro Matad price would fill the recent gap before price bounces upwards again, because that area is around a very strong and formidable demand level, and there can be a serious rally from there once the gap is filled.   

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: Trading realities 

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Wednesday, November 6, 2019

ItuGlobal: Our Binary Options Strategy Is Live!

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