Price Analysis of Waves, Digibyte, Golem, Siacoin, and IOTA _ Hacked_ Hacking Finance 1 in bitcoin

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Waves/BTC, 1-hour chart analysis

Waves has exited the declining trend a couple of days ago, but the strong bounce hit resistance at 0.0019 and the coin retraced most of the move by now, with the broad correction further pushing the price lower today. The short-term MACD is still negative and a break below 0.0016 would open up the way for a re-test of the 0.0014 level that marks the correction low. If the coin holds or bounces back above 0.0015 quickly that would be a bullish long-term sign. Digibyte (DGB)

DGB/BTC, 4-hour chart analysis

DGB remains among the weaker coins since falling below the key support level at 0.000010.

The currency trades in a range between 0.0000064 and 0.000008 compared to BTC, with strong support below that at 0.000005.1 in bitcoin traders are still advised to wait for new positions until the short-term declining trend (currently at 0.000008) breaks. The long-term trend-line is already broken after a lengthy consolidation, and that could point to a trend-reversal soon. Golem (GNT)

GNT/BTC, 4-hour chart analysis

Golem hit a marginal high in late june, but since then it entered a correction, breaking the long-term trendline and falling to the 0.00017 support. The coin broke that level today and it is headed for test of the strong zone between 0.0001325 and 0.0001450, which could provide a good entry point for long term investors. Siacoin (SC)

SC/BTC, 4-hour chart analysis

Siacoin is also in a declining short-term trend, as it broke below the key 0.000005 level against the BTC, after a failed break-out attempt above 0.0000075.1 in bitcoin traders should avoid new positions until a rally above the short-term trendline that currently stands at 0.0000045. The MACD is already in oversold territory, but as long as the broad selling pressure persists, the coin might test the strong support at 0.000003. IOTA (MIOTA)

MIOTA/BTC, 15-min chart analysis

IOTA is still in very early days of its broad trading history, so short-term traders should expect very volatile conditions, as the market tries to settle down after going public. We advise trading IOTA only for experienced traders for now. The coin is hitting new lows today against BTC and short-term traders should wait with new positions until at least the break of the declining trendline currently at 0.135. Long-term investors could take advantage of the current broad sell-off and add to their positions near 0.125.1 in bitcoin

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As we noted previously, it’s unlikely that the bull market is dead just yet, despite the fact that we agree with peter toogood (really) that “ this market is nuts…” from a valuation perspective, but short-term, these are the levels where the bounce should fail, in theory, that is.

At this point, even bulls should take a step back, and wait for the next pullback before jumping in, as the short-term indicators are stretched, while bearish traders could be looking for entry points today, and long-term investors could just enjoy the show. Heavy trading in forex markets

Although equities and treasuries are mostly in the headlines, the most important forex pairs are also very active, with the euro, the dollar, and the yen all being pushed around by the quick repositioning of the big players.1 in bitcoin

EUR/USD, 4-hour chart analysis

This creates a great day-trading environment, with clear, significant swings in both directions, within the strong trends. The dollar is generally trading lower since the bounce started, and the EUR/USD pair already managed to reach a new 40-month high during the asian session, before turning lower in european trading.

USD/JPY, 4-hour chart analysis

The USD/JPY pair traded with a 105 handle today, again a more than 1-year low, and the trend looks clear, even as the short-term picture is oversold. Gold might also be preparing for a new multi-year high, so everything looks set for more fireworks in currencies too. Stay tuned.

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BTC/USD, 4-hour chart analysis

Bitcoin hit an overnight high near $10,300 before the consolidation began, but it’s still trading well above the key $9000-$9200 support zone that could be in focus during the short-term correction. Resistance levels above $10,000 are at $11,300 and $13,000 while further support is between $7650 and $7850.

XMR/USDT, 4-hour chart analysis

Monero, which has been among the first majors to break the dominant declining trendline touched the $300 level, before turning lower overnight, and it remains in a good technical position to form a new uptrend. The coin is trading right at the $280 support level, with further levels at $240 and between $200 and $215. Look out for signs rotation during the consolidation

XRP/USDT, 4-hour chart analysis

As the segment is still acting bullish, with low correlation and volatility and positive volume patterns, the rotation between the coins will likely continue.1 in bitcoin that could mean that the currently lagging coins might have their moment in the sun in the coming period, so traders should watch ripple, ETC, ETH, NEO, and stellar for signs of early strength, even as ETH and NEO are still expected to continue their broader correction.

As the weekend is shaping up to be an exciting one for investors looking for re-entry points, stay tuned for our detailed technical analysis later in today.

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Disclaimer: the analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins.