ETH/USD and ETH/BTC Technical Analysis December 4 2017

Hello and welcome to News BTC’s Market Outlook December.

ETH/USD

ethusd

Ethereum had a very volatile session during the trading session on Friday, but eventually settled on going bullish. We broke to the $460 level, and have pulled back slightly on the hourly chart. However, I think it’s only a matter of time before we break above $460 again, and continue to rally slightly. Because as though, we have had a vicious selloff recently, so there is going to be a lot of fear in the market.

ETH/BTC

ethbtc

Ethereum fell against Bitcoin yet again, and as I said yesterday, I believe the market is going to continue to grind towards the 0.04 level underneath. Any rally at this point should be a selling opportunity, until of course we can break above the 0.045 handle, something that I don’t expect to see.

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Hello and welcome to News BTC’s Market Outlook December.

DASH/USD

dashusd

DASH went back and forth during the trading session on Friday, as we continue to bounce around, giving us an opportunity to start finding buyers underneath, perhaps reaching towards the $800 level. I believe that the $700 level underneath should be buying opportunities, as it should offer plenty of support. Given enough time, I think it’s likely that the buyers will return as we have seen such a strong move to the upside.

LTC/USD

ltcusd

Litecoin broke out to the upside, reaching towards the $92 level during the day. We must clear that level to start buying though, as it would be a clearance of quite a bit of negative pressure during the last several sessions. In the meantime, be patient and wait for the trade to present itself.

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Hello and welcome to News BTC’s Market Outlook December.

BTC/USD

btcusd

Bitcoin rallied again during the trading session on Friday, reaching towards the $10,600 level but looks to pull back a little bit in this area. However, we have made a “higher high”, so I believe that this short-term pullback could be the next buying opportunity. Expect a lot of volatility, there is a lot of fear in the market, so be very cautious and add to any position slowly.

BTC/JPY

btcjpy

Bitcoin also made a “higher high” against the Japanese yen, clearing the ¥1.2 million level. However, we are pulling back a little bit, so you make it an opportunity to pick up some value underneath, and that gives us an opportunity to add to an already long position. However, there is also a lot of fear in this pair as well, so be cautious.

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Hello and welcome to News BTC’s Market Outlook December.

ETH/USD

ethusd

Ethereum has fallen rather significantly against the US dollar, partially in a “knock on” move from the brutal selloff in Bitcoin. Ethereum has lost $100 in the last 24 hours, and of course that is a very significant selloff. It currently looks as if we are going to test the $400 level underneath. The $400 level of course is a psychologically important area, and previous support. If we were to break down below there, is very likely that Ethereum will continue to go lower, perhaps to the $360 level.

ETH/BTC

ethbtc

Ethereum sold off against Bitcoin as well, as we are testing the lows yet again. It looks likely that we are going to go looking towards the 0.04 level over the next couple of days, with the 0.045 level being a bit of a ceiling. Selling the rallies continues to be the profitable trade.

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Hello and welcome to News BTC’s Market Outlook December.

DASH/USD

dashusd

DASH continue to be volatile during the trading session on Thursday, as we are selling off rapidly. The market has lost $150 as I write this, part of it being a reaction to the bloodbath in the Bitcoin market. Crypto currencies everywhere are getting sold off rather drastically, but dash does have a significant amount of support at the $640 level. If we were to break down below the $600 level, dash could see horrific losses, so it is imperative that we hold that area. Only the foolish jump in right now and start buying.

LTC/USD

ltcusd

Litecoin has fallen $20, looking to reach towards the $80 handle. That’s an area that should be psychologically important, and must hold in order for this market to continue to go higher. The selloff that we have seen the crypto currencies I believe is a sign that some of the mania is starting to abate. As far as Litecoin is concerned, I suspect that we will go looking towards $70.

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Hello and welcome to News BTC’s Market Outlook December.

BTC/USD

btcusd

Over the last 24 hours, Bitcoin has been absolutely pummeled after the well-documented break above $10,000. In fact, the daily candle from the session would have been a shooting star. This of course is a very negative sign, but currently it looks as if the $9400 level is offering support. If it gives way to selling pressure, expect to run down to the $9000 level next. Alternately, we don’t technically continue the uptrend until we break above $10,600.

BTC/JPY

btcjpy

Bitcoin initially trying to get back most of the losses after the brutal selloff against the Japanese yen, but you can see did not make a higher high, thereby suggesting that we could see further continuation to the downside. At this point, I anticipate that the ¥1 million level continues to be the “floor”, but if we were to break down below that level it would indeed be a very negative sign, leading to much more selling pressure. As far as buying is concerned, I don’t see a signal to do so yet.

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Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum broke out during the trading session on Wednesday, clearing the $500 level. It now looks as if we are going to continue to find buyers in the Ethereum market on dips, and we should continue to go much higher. Given enough time, I believe that Ethereum will go looking towards the $550 level as the next logical round number. However, on the hourly chart we are crossing in the overbought part of the stochastic oscillator, and that of course suggest perhaps the pullback is coming before we move higher. Nonetheless, I remain bullish.

ETH/BTC

ethbtc

Ethereum also rallied against Bitcoin, but with Bitcoin skyrocketing over $1000 in the last 24 hours, it’s a most impossible to imagine going long against it. Because of this, I suspect that the 0.48 level is going to offer significant resistance, and we may very well pull back in the short term.

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Hello and welcome to News BTC’s Market Outlook November.

DASH/USD

dashusd

DASH continues to extend gains, reaching as high as $770 during the trading session on Wednesday. We are starting to pull back though, as we crossed in the overbought part of the stochastic oscillator. However, it’s very likely that any type of pullback in this market will be a buying opportunity and therefore looking for a bounce underneath is probably the best way to play this market.

LTC/USD

ltcusd

Litecoin has broken above the $100 level, as we continue to go forward. Now that we have done this, pullbacks will be thought of as buying opportunities yet again, although we are starting to get a little bit stretch. I suspect that a couple of dollars will be given back, and then buyers will return to pick up the pieces.

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Hello and welcome to News BTC’s Market Outlook November.

BTC/USD

btcusd

Bitcoin rallied again against the US dollar, as we are approaching the $11,000 level. At this point, anytime you get a pullback in the market there seems to be buyers. I would anticipate that the “floor” is probably the $10,000 handle. We are most certainly entering some type of mania at this point, and impulsive phase. Because of this, make sure that you have stop losses in place as they tend to reverse rather rapidly.

BTC/JPY

btcjpy

Bitcoin obviously rallied against the Japanese yen as well, reaching ¥1.25 million. Pullbacks of this point should continue to have opportunities to find value below, with the ¥1.2 million looking to be very supportive, as well as the ¥1.15 million level.

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Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum continues to go sideways against the US dollar, hovering above the $460 level. I think that Ethereum is essentially waiting for Bitcoin to break above the $10,000 level to feel confident enough to make a serious go at the $500 level. Pullbacks should continue to be buying opportunities, but a breakdown below the $440 level could send this market as low as $400 after that.

ETH/BTC

ethbtc

The Ethereum markets fell against Bitcoin, as Bitcoin looks likely to be the first of the 2 currencies to break out. Because of this, it’s likely that the market will continue to go a little bit lower here, perhaps reaching down to the 0.045 level underneath which should be the beginning of support. In general, I believe that this market is probably best left alone in the short term.

Thanks for watching, be back tomorrow.