Bull Cross

The list bitcoin price indicators calling a bullish move is growing

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Sponsored by   March 12, 2019 BTC: Price: $3,870 | MCAP: $68.87 billion | 24-Hr Volume: $9.87 billion Outlook: Bullish First bull cross since August Bitcoin's 50-day moving average (MA) has taken an upward turn and is about to cross the 100-day MA from below. That would be the first bullish crossover of the longer duration averages in seven months.  The bull cross is a lagging indicator, being based on past data. That said, with several key indicators, like the weekly moving average convergence divergence (MACD) and the money flow index flashing early signs of bullish reversal, the probability of the cross trapping the bulls on the wrong side of the market seems low. As a result, bitcoin could rise toward $4,236 (Dec. 24 high) in the near future, as suggested by the bullish candle created on Feb. 27. A break above that level would confirm an inverse head-and-shoulders breakout and open the doors to $5,000. The bullish case, however, would weaken if prices find acceptance below the Feb. 27 low of $3,658.  Read Analysis SPONSOR SECTION Zebpay is leading the Crypto Exchange industry with its declaration that trading fees are a thing of the past. Zebpay is committed to reducing all friction in the use of Cryptos and our Zero trading fee promise is a definitive step in this direction. Sign Up Free   STORJ: Price: $0.30 | MCAP: $41.8 million | 24-Hr Volume: $44.2 million Outlook:  Bearish Eyes On Lower Supports Storj has performed quite well, up 15 percent over a 24-hour period and retracing in price after attempting to surpass a previously known support zone turned resistance at $0.30. However the recent spike to test above will likely result in a further breakdown from the swift rejection on yesterday's (March 11) candlestick which had already retraced 7 percent at the time of writing. The daily RSI is probably the easiest identifiable sign that suggests price action switching bearish in the short-term while selling pressure remains greater than buyers as seen on the Chaikin Money Flow. A retest of the lower resistance at $0.26 would be the most probable outcome as traders look to bank a profit from its most recent lower high.   We're excited to announce the launch of the CoinDesk Dojo, a premium subscription part of StockTwits' recently announced Premium Rooms product. Ask the analysts—Omkar, Sam and Seb—questions about charts and talk with other traders looking to profit off the volatility of the crypto markets.  Create an account on StockTwits and then subscribe! Subscribe Here   Facebook’s $19B Crypto Plan: Facebook’s supposed plan to create a cryptocurrency of its own could generate the company an additional $19 billion in revenue, according to Barclays internet analyst Ross Sandler. While concrete plans regarding the possible “Facebook Coin” have not been publicly expressed, Sandler believes the social media empire could see a “similar cadence” to the $6 generated per user of the Google Play store, which is the official app store for Android's operating system. Revenue projections aside, Sandler suggests the incorporation of Facebook Coin would steer the company’s business model away from generating revenue based on user data, a shift he thinks Facebook shareholders would welcome with open arms. FULL STORY February Crypto Volatility: February was the best performing month for the cryptocurrency market since July and when prices increase, volatility in all likelihood does as well. According to the SFOX Volatility Report, litecoin saw a noticeable uptick in price and volatility after litecoin founder Charlie Lee stated he was exploring potential ways to incorporate privacy technology into the cryptocurrency. The report suggests this is a sign the cryptocurrency market is optimistic in regards to cryptographic privacy technologies. The report also notes a volatility increase followed news of JP Morgan launching its own cryptocurrency, which was a sign the news encouraged investors to enter the cryptocurrency markets. FULL STORY   BAT: Price: $0.18 | MCAP: $229.2 million | 24-Hr Volume: $21.1 million Outlook: Pullback What Goes Up... Basic Attention Token is down 7.2 percent over a 24-hour period after a massive 31-day gain that saw BAT's price increase 112 percent beginning Feb. 6, so its safe to assume BAT has now entered into a period of profit taking for the short-term. Having broken the 7-day exponential moving average (EMA) at around $0.19 momentum has now flipped bearish once again, at least in the short-term until price searches for another floor. If price action does indeed continue lower then consider a potential back test of the 26-day EMA, a case that has been strengthened by a bear cross on the daily stochastic which has room to fall until it reaches its prior low point. Keep a keen eye on volume to see whether or not the bears can surpass the prior bar's total because upon failing to do so would spell out seller exhaustion and negate any further lows. ENJ: Price: $0.15 | MCAP: $124.8 million | 24-Hr Volume: $52.7 million Outlook: Mildly bearish Reeling Back From Massive Gains Enjin Coin experienced phenomenal gains during the month of Feb. rising 188 percent by the time March rolled around whereby it shot up a further 210 percent before retracing to stand at current prices of around $0.15. The stochastic bear cross seen on March 10 exemplifies the underlying bearish sentiment that now places ENJ in a tentative spot as this shows a willingness by the bears to push to lower supports located along the 100 percent Fibonacci extension point at $0.12 Interest still looms however as there remains little information surrounding the extent of its Samsung partnership leaving room for speculation that continues to prop up the price instead of seeing a free fall. With falling volume period-period alongside price, a bullish volume analysis can be drawn (once today's candle has been completed), that is of course provided the daily RSI cements its current lower high position with no further concessions to the bears. Alternative cryptocurrencies, popularly known as altcoins, are at the stating line of the bull run, patiently awaiting a green signal from bitcoin, according to @CryptoHornHairs.  This is evident from the classic bottoming out or bullish reversal structures seen on altcoins' daily price chart For instance, both VeChain (VET/BTC) and Waltcoinchain (WTC/BTC) have charted a double bottom pattern. Meanwhile, Cardano (ADA/BTC) is currently creating the right shoulder of an inverse head-and-shoulders bullish reversal patter. A similar bullish pattern is also noted on POA Network (POA/BTC).  All these cryptocurrencies will likely post stellar gains, if and when, BTC picks up a strong bid and moves above key resistance at $4,236.  Bitcoin's confirmed transactions per day fell to 212,877 on Sunday, representing nearly 30 percent drop 295,000 seen ahead of the weekend, according to blockchain.info.  The sharp slide to levels last seen in October is likely associated with the end of of the Veriblock testnet on March 4.  If reports are to be believed the the testnet process accounted for almost 20 to 30 percent of bitcoin's total transaction volume.  Also, BTC transactions in Venezuela have reportedly dropped sharply in the last few days. That could also be the reason behind the slide in number of confirmed transactions per day.  Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. 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