Home Analysis Crypto Weekly Byte: $300 Billion

Crypto Weekly Byte: $300 Billion

November 27, 2017 12:58
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What a week this has been for Crypto! Bitcoin went up last week along with all the majors. This is a good time to be investing in Crypto. We made four major trade calls last week out of which three worked out way better than our prediction.

Bitcoin

Seems like there is no stopping Bitcoin. Bitcoin has gone from $6000 to $9600 this month alone. Bitcoin was $8,000 starting last week, increasing by $1,600 by the end of last week. Every time there’s a new high, there is a talk of bubble. But Bitcoin has been breaking through a new resistance every week.

The market cap of Bitcoin is at $160 Billion now and there is no stopping it. Bitcoin will continue growing by the end of this year and CME group adding Bitcoin Futures. Bitcoin is still in the buy zone now.

Ethereum

After weeks of horizontal movement, Ethereum finally broke out of its resistance of $300 early last week and $350 late last week. The momentum continued this week, pushing Ethereum well past $400 to an all-time high of $480.

Ethereum has a temporary resistance at $480. If it does not break the resistance soon, there might be a temporary slump. But if it manages to break through $480 successfully, uptrend will continue.

Bitcoin Cash

Bitcoin Cash had a surprising week. It was trading between $1100 and $1300 last week. It finally broke that point and shot sharply to $1750. If you had set buy orders above $1300 as mentioned in our analysis last week, sell a portion of your holding for a profit of $450 now and continue holding it with a stop-loss set at $1500.

Bitcoin Cash has a resistance at $1700 So if you’re still looking to buy in, set buy orders around $1750 to catch the next pump and stop-loss at $1500.

Ripple

Ripple is trading horizontally between $0.24 and $0.25 once again. Ripple had a major announcement of partnership with Axis Bank India and you can read all about it here. There is no clear signs of increase in value for Ripple. But the horizontal movement gives good opportunity to trade along the line.

Litecoin

Litecoin saw major movement last week. Litecoin went from $65 to an all time high of $90. Litecoin successfully performed instant cross-chain atomic swap with Bitcoin. This news gave it the much needed boost and the uptrend is still intact. Litecoin is still in its buy zone with stop-loss at $83.

DASH

DASH, like every other major had a huge week. DASH went from $450 to an all-time high of $650. We predicted the price movement early in our analysis last week. DASH has resistance at $650 and and if it does not break that soon, it will continue in a path of horizontal movement and test it a few more times.

NEO

NEO had a major surge last week to $48 on rumours that China will legitimise ICOs with NEO being an official channel. Since it was just a rumour and no official word on it, the price fell down to $33. NEO is trading at $41 right now, with support at $37 and $34. If you’re looking to buy NEO, wait for the next pump with buy orders above $50.

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