Bitcoin / US Dollar
Over the last few days, we see a steady increase in the Bitcoin price,and this bullish action continued on the 29th of January which saw the Bitcoin price rise by 1.19% to stand at $38,191 per coin, indicated by increased buying volumes. The wick above the candle signifies the highest trading price ($38,748) seen in the market, which was achieved by sustained bullish move at the start of the market, and In the course of the day, we see that the bears attempted to minimize the gains seen for the day, as indicated by the wick above the candle, while the wick placed below the candle represents the lowest trading price for the day at $37,300 per coin.
At the start of 30th January, we see the bulls attempting to continue their momentum of the previous day; however, immediate resistance by the bears sees the bulls lose their momentum, with the bears influencing a 0.22%drop ( translating to $37,901 per coin) to gain control of the market. As of the writing of this piece, the highest and lowest price points achieved so far stand at $38,384 and $37,365, respectively.
On the 31st of January, we see the bears continuing their action following the previous bearish action of the 30th. As of the writing of this piece, the Bitcoin price is down by 0.71%, bringing the bitcoin price to $37,630 per coin, with the highest and lowest price achieved so far standing at $37,960 and $36,640, respectively.
From the above values, we see that the Bitcoin price still trades below its 50-day moving average of $43,799 per coin, reflecting a market downtrend.
Indicator
Following sustained bullish action across the last few days, we see the relative strength index continue on its rise on the 29th of January, standing above the oversold market at a value of 37. On the 30th and 31st of January, we see continued bearish action, resulting in a fall of the relative strength index to 36 and 35,respectively. Nevertheless, as of the writing of this piece, the market remains in bearish dominance; however, with the market still far from its close for the day, we could see more volatility.
In correlation to the relative strength index, we see the MACD deflect to the upside though below the zero line, while the histogram shows growing bullish activity in the market. Nevertheless, a clear reflection of the bearish dominance of the market is indicated as the MACD remains below the zero line.
Buy and sell BTC on Remitano
Ethereum / US Dollar
From the above chart, we see the Ethereum market struggling to break out of bearish control as indicated by consecutive bullish activity on the 28th and 29th of January. On the 29th of January, the bulls resisted an early attempt by the bears to control the market, indicated by the wick below the candle and placing the lowest trading price point for the day at $2,521 per coin. Also, from the chart, we see the bulls sustained their resistance which turned into momentum and effectively flipped the market in their favor, causing a 2.23% price increase, translating to $2,603 per coin, while the highest trading price for the day stands at $2,640 per coin.
On the 30th of January, we see the bears taking an early lead in the market, influencing a 0.03% drop as of the writing of this piece, bringing the Ethereum price to $2,602 per coin. The wick above the candle suggests the bulls attempted to make an early move for dominance but quickly met bearish opposition, indicating a struggle for supremacy in the market. Nevertheless, the highest and lowest price points stand at $2,642 and $2,542, respectively.
The Ethereum price is down by 0.53% on the 31st of January, bringing the asset price to $2,588, which falls significantly below the market’s 50-day moving average of $3,381, a clear reflection of the current market downtrend.
Indicators
The above chart shows that the Ethereum market has broken out of the oversold region (though in a downtrend) as the relative strength index on the 29th,30th, and 31st of January stands above the 30 mark, at 35.4,35.3, and 35, respectively.
In correlation to the relative strength index, we see the MACD deflect to the upside in an attempt to get above the zero line, a clear indication increasing bullish activity despite the dominance of the bears of the market, and this is correlated by the histogram, which shows growing bullish activity in the market.
Buy and sell ETH on Remitano
Ripple / US Dollar
The chart above shows that the bears have a significant hold on the market, with the only bullish momentum coming on the 29th of January. With the dominant bearish action, we see the XRP market continue to trade below its 50-day moving average of 0.7756.
With the above statement, we see that the XRP prices on the 29th, 30th, and 31st of January stands at $0.61, $0.604, and $0.595, respectively, with the price changes on these days corresponding to +0.97%, -2.40%, and -1.15%, respectively.
As of the writing of this piece, the highest and lowest price points achieved in the market stand at $0.601 and $0.580, respectively.
Indicators
With the current market momentum, we see the XRP market slightly in an oversold scenario (a relative strength index below the 30 mark), reflecting the bearish influence on the market. Therefore, the relative strength index over the 29th,30th, and 31st of January stands at 31,29, and 29, placing the bears in firm control of the market.
The MACD and histogram also correlate to the relative strength index. They are both placed below the zero line and illustrate bearish activity, providing a negative outlook for the market.
Buy and sell XRP on Remitano
Litecoin / US Dollar
The Litecoin market further trades below its 50-day moving average of $144 per coin as it has experienced more bearish action over the last seven days. On the 29th of January, the LTC market experienced bullish action, which saw its price increase by 1.23% to $110 per coin. On the 30th of January, we saw a bearish response to the bullish momentum of the previous day, resulting in a 2.03% drop in the LTC price to $108 per coin.
On the 31st of January, we see the bulls attempting to reestablish their previous momentum, and this has caused a 11.05% drop as of the writing of this piece, bringing the LTC price to $99 per coin. With the market yet to close for the day, we could see more bearish action. Nevertheless, the highest and lowest trading prices achieved so far stand at $112 and $97, respectively.
Indicators
In the litecoin market, we see the relative strength index slightly placed above the oversold region, effectively placing the LTC market in an oversold scenario and, therefore, in bearish control. With the above statement, the RSI on the 29th, 30th, and 31st of January stand at 34, 33, and 33, respectively.
In correlation to the relative strength index, we see the MACD and histogram placed below the zero line and show increasing bear activity in the market, portraying a negative outlook.
Buy and Sell LTC on Remitano
Bitcoin Cash / US Dollar
On the 28th of January, the bulls flipped an initial bearish push for dominance, establishing the start of their momentum, which saw the Bitcoin Cash price rise by 0.75%, translating to $299 per coin, with the wick below the candle indicating bullish resistance to further price fall, and the wick above the candle reflecting bearish rejection to further price growth. The bearish resistance initiated at the close of the 29th of January is seen to turn into momentum on the 30th, influencing a 3.01% drop, bringing the Bitcoin Cash price to $290 per coin. The wick below the candle suggests bullish resistance to an initial bearish action, placing the lowest trading price for the day at $287, while the highest price seen in the market stands at $302 per coin.
On the 31st of January, we see the bears pushing down the Bitcoin Cash price, influencing an 1.83% drop in price to bring the Bitcoin Cash price to $284 per coin. With the market still yet to close, we can expect to see much more volatility. Nevertheless, as of the writing of this piece, the highest and lowest price stands at $290 and $278, respectively.
With the values across the last three days, we see that the Bitcoin Cash market still trades below its 50-day moving average of $388, indicating a downtrend.
Indicators
We see the relative strength index stand below the 30 mark following consecutive bearish actions, effectively placing the Bitcoin Cash market in an oversold scenario. Over the last three days, we see the RSI stand at 28,26, and 25, effectively placing the BCH market in a bearish grasp.
As a reflection of the bearish activity over the last few days, we see MACD standing below the zero line, indicating bearish dominance. This is correlated by the histogram, which shows bearish activity in the market though of decreasing intensity.
Buy and sell BCH on Remitano
Cardano / US Dollar
From the above chart, we see that on 29th January, the bulls initiated a momentum; however, the bears provided resistance, resulting in the creation of the wick above the candle. With the above statement, the Bitcoin market rose by 1.12%, translating to $1.060 per coin. The bears dominated the market on 30th January following the bearish action, influencing a 2.30% price drop, bringing it to $1.03 per coin.
On 31st January, the ADA market fell by 0.89%, bringing the ADA market to $1.02 per coin, with the highest and lowest price points seen so far being $1.038 and $1.01, respectively.
With the above values being below the ADA market’s 50-day moving average of $1.259, the market can be said to be in a downtrend.
Indicators
The relative strength index stands below the 50 mark, indicating the dominance of bearish selling against bullish buying. With the above, the relative strength index on the 29th,30th, and 31stof January stands at 40,39, and 38.
The MACD and histogram are placed below the zero line, indicating bearish market dominance; however, the histogram shows increasing bearish presence.
Swap to ADA
Dogecoin / US Dollar
The Dogecoin market trades below its 50-day moving average of $0.163, indicating a clear downtrend. On the 29th of January, the market sees the bulls flip an initial bearish momentum indicated by the wick below the candle to gain control of the market, and then influencing a1.06%, bringing the Dogecoin price to $0.143 per coin.
On the 30th of January, we see the bears influence a pushback drop of 2.53%, bringing the Dogecoin price to $0.139 per coin. The highest and lowest trading prices achieved stand at $0.143 and $0.138, respectively.
Following the bearish action, we see a bullish response on the 31st of January, resulting in a minute 0.22% rise, bringing the Dogecoin price to $0.139 per coin, with the highest and lowest price points seen in the market at $0.401 and $0.136, respectively.
Indicators
Over the last three days, we see bearish dominance on the RSI chart, indicated by the RSI, trading below the 50 mark with the continued bearish action. With the above statement, the RSI on the 29th, 30th, and 31st of January were 40, 38, and 38.
The bearish action is reflected on the MACD and histogram by trading below the zero line. The histogram shows consecutive bearish activity in the market though of reduced intensity.
Swap to DOGE
Correlations
- Bitcoin / Ethereum = 0.89
- Bitcoin / Ripple = 0.88
- Bitcoin / Litecoin = 0.87
- Bitcoin / Bitcoin cash = 0.88
- Bitcoin / Cardano = 0.83
- Bitcoin / Dogecoin = 0.79
Keynotes for today
- Bitcoin at $37,630 per coin.
- Ethereum at $2,588 per coin.
- Ripple at $0.595 per coin.
- Litecoin at $ per coin.
- Bitcoin Cash at $284 per coin.
- Cardano at $1.02 per coin.
- Dogecoin at $0.139 per coin.
