April 28, 2018

Asian Altcoin Trading Roundup: Top Cryptocurrency is EOS

Crypto markets have remained relatively stable as we enter the weekend and there have been no major movements in either direction. Total market capitalization has remained over $400 billion which is a good signal that more selling pressure has been suppressed for now. bitcoin has remained over $9,000 for the past 24 hours and is currently trading one percent down at $9,130. Altcoins are a mixed bunch with a few posting good gains while some have lost a little ground. One steaming ahead of the group this morning in Asia is EOS.

Coinmarketcap reports that EOS is currently trading 16% higher during the morning’s Asian trading session. At the moment this altcoin is trading at $17.60 which is up from around $15 this time yesterday. Over the week EOS has been even stronger with gains of almost 50% from $11.20 this time last Saturday. The monthly view is more impressive with gains of over 170% from a trading range of around $6 this time last month. Against bitcoin EOS is up 17% on the day to 193300 satoshis from 164000 sats this time yesterday. Over the week EOS has gained 54% against BTC, up from 125000 satoshis this time last weekend.

According to Forbes current momentum for EOS has been driven by benefits from several tailwinds, including an ongoing ICO and widespread faith in Dan Larimer, who currently serves as CTO of BlockOne and is leading the development of EOS. Positive sentiment is driving prices higher as investors look beyond Ethereum for the next big crypto platform.

The majority of trade has been on Asian exchanges this morning with OKEx, Bithumb and Huobi taking over 50% of the volume. EOS volume has risen over 115% from around $1.3 billion yesterday to over $2.8 billion today. Total market cap is steadily increasing cementing its position as fifth most popular cryptocurrency with $14.5 billion at the time of writing.

Total crypto markets have remained pretty flat on the day rising just under one percent to $415 billion. Other altcoins performing well during the Asian trading session this morning include Tron, Icon and Steem.

More on EOS can be found here: https://eos.io/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

Published at Sat, 28 Apr 2018 04:42:39 +0000

Altcoins

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December 22, 2017

Bitcoin Price Watch; Hedging The Dips

So that’s another day of trading complete in our bitcoin price trading efforts and there’s really only one word for what’s happened in the bitcoin price (and, indeed, across pretty much the entire crypto spectrum) – bloodbath. We’d love to be saying that we’re heading into the festive period on a high and, in turn, that there’s plenty to be excited about moving forward into the new year. One of these things is true. The latter one. The first, not so much.

Anyway, there will be plenty of people complaining today so let’s not add to the list – instead, lets’ try to take advantage of the action we are seeing with some nimble intraday trades.

So, then, as ever, before we get started, take a quick look at the chart below to get an idea where things stand. It’s a one-minute candlestick chart and it’s got our primary range overlaid in green.

As the chart shows, then, the range we are going to be using for the session today comes in as defined by support to the downside at 12422 and resistance to the upside at 12670.

We are going to stick with our standard breakout strategy (that is, in and out on breaks and subsequent closes above and below key levels) so our two target trades for this evening are as follows:

We’ll be in long towards an immediate upside target of 12800 if we see price close above resistance. A stop on the trade somewhere in the region of 12630 will ensure we get taken out of the position in the event of a bias reversal.

We will try and get in short on a close below support, targeting 12350 to the downside and placing a stop at 12440 to keep things tight from a risk management perspective.

See you on the other side.

Charts courtesy of Trading View

The post Bitcoin Price Watch; Hedging The Dips appeared first on NEWSBTC.

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