$209.06 6.85%
ETH · 19w

Weekly Wrap Up: BTC, EOS, TRX, and GNT Price Analysis - Invest In Blockchain

The cryptocurrency markets experienced another month of downward pressure in terms of market cap on a whole. The total market cap of all coins fell from a high of $470 billion in early May, to a low of $303 billion near the end of the month.

For “altcoin season” to occur over the next few months, Bitcoin and alternate cryptocurrencies will need to overcome some significant levels of resistance in the month of June.

However, the markets have primed themselves for some bullish momentum in June. Will this momentum continue to and lead to increased prices?

Bitcoin Suffers Another Bearish Month, But Are Bitcoin’s Woes Nearly Over?

May 2018 proved to be a difficult month for the bulls of BTC. Bitcoin started the month well, reaching a peak of $9,990. However, BTC then dropped by almost 30%, reaching a low of $7,040.

Recent price action has suggested that the potential for a short-term reversal is quite likely, as price makes an attempt at the upper resistance line of a long-term symmetrical triangle.

BTC/USD Price Analysis – Long-Term Overview

BTC/USD – 1 Day Chart –

Are we trading in a bullish or bearish market condition?

From a long-term perspective, Bitcoin is neither trading in a bullish or a bearish trading condition. Instead, the market has elected to trade within a period of consolidation, specifically within the range of a symmetrical triangle as shown in the chart above.

BTC has been trading within this symmetrical triangle since mid-January 2018 for a period of just over 4 months. We can see that price action begins to make a series of lower highs and higher lows typical of a colidtation period.

For the market to be considered as a bullish market, price action would have to break above the upper resistance line of the symmetrical triangle, then confirm strength by holding above the $10,000 price level.

For the market to be considered a bearish market, price action would ...

Continue on
Recent news
ETH +6.85% · · 8h

Ethereum Foundation Grants Update - Wave IV

Greetings from the Ethereum Foundation Grants Team! As we go full steam ahead to Devcon 4, we’re back to announce Wave 4 of the Grants Program! Thank you to all the fantastic community members that ha...
ETH +6.85% · · 10h

Introducing Fidelity Digital Assets

Fidelity Digital Assets is building enterprise-grade bitcoin custody and other services for large institutions.
ETH +6.85% · · 14h

Blockchain Venture Summit 2018

In Blockchain Venture Summit, we will introduce more than a hundred companies who will be exhibiting their work, providing a unique opportunity for attendees to gain multiple company insights, and …
ETH +6.85% · · 14h

​​Syed Hussain, Chief Commercial Officer at BANKEX, guest starred on “Behind the Markets” on Sirius/XM. Syed, a thought leader, shared his views on the broader crypto/blockchain industry and, of course, emphasized the role BANKEX is playing in this evolving marketplace.

Confused by all the hype about Blockchain and cyber-currencies? Hosts Jeremy Schwartz and Wharton Finance Professor Jeremy get a crash course from the Chief Commercial Officer for BANKEX, a global fin...
ETH +6.85% · · 14h

Massive moves on BTCUSD and ETHUSD!

Today I will go through BTCUSD daily and ETHUSD 4H charts which have shown some large breakouts, and will now perhaps both enter a bearish correction. There is, however, hope as BTC might turn…