- Bitcoin stuck in a rut. <\/p>\n
- Ethereum weekly losses exceed 20% <\/p>\n
Looking for fresh trading ideas? - Get your free DailyFX Third-Quarter Trading Forecast and Trading Guide here. <\/p>\n
After a tough week in the cryptocurrency space with all major digital currencies registering a negative performance, market heavyweight BTC has stabilized and may be looking to re-coup some of its losses. <\/p>\n
A look at the daily chart shows a potential bullish pennant formation, although the lower-high\/higher-low pattern normally seen is not quite so distinct. <\/p>\n
Chart: Bitcoin Daily Timeframe (February - July 14, 2017) <\/p>\n
Chart by IG <\/p>\n
The four-hour chart however signals a potential for BTC to move even lower as the recent downturn has seen the currency move below its 20-, 50- and 100-day exponential moving averages (ema). The break lower was confirmed on July 9 with a bearish crossover with the 20- and 50-day ema below the 100-day ema. The momentum indicator also has moved from positive to neutral. <\/p>\n
Chart: Bitcoin Four-Hour Timeframe (June 26 July 14, 2017) <\/p>\n
The second-largest digital currency Ethereum (ETH) has also suffered heavy losses this week, falling by around 20%. With most explanations of this weeks fall based on personal opinion rather than market specifics or technical releases, ETC may be in for a continued rough ride in the weeks ahead. <\/p>\n
Chart: Ethereum Five Day Chart (July 10-14, 2017) <\/p>\n
Chart by TradingView. <\/p>\n
Market Moves\/Capitalizations July 14, 2017. <\/p>\n
Cryptocurrency <\/p>\n
Price\/Change% <\/p>\n
Market Cap <\/p>\n
BITCOIN <\/p>\n
$2360 -1.24% <\/p>\n
$38.820bn <\/p>\n
ETHEREUM <\/p>\n
$206.1 -4.10% <\/p>\n
$19.22bn <\/p>\n
RIPPLE <\/p>\n
$0.197 -2.84% <\/p>\n
$7.558bn <\/p>\n
LITECOIN <\/p>\n
$46.18 -1.14% <\/p>\n
$2.400bn <\/p>\n
ETHEREUM CLASSIC <\/p>\n
$18.48 +0.36% <\/p>\n
$1.728bn <\/p>\n
If you are interested in trading, please check out next weeks free webinarswhere our analysts discuss a wide range of technical analysis, charts, trade set-ups and sentiment across a range of assets. <\/p>\n
--- Written by Nick Cawley, Analyst <\/p>\n
To contact Nick, email him at nicholas.cawley@ig.com<\/a> <\/p>\n Don't trade FX but want to learn more? Read the DailyFX Trading Guides <\/p>\n <\/p>\n Continue reading here: - Bitcoin stuck in a rut. Continue reading
\nCryptocurrency: Bitcoin Charts Show Conflicting Signals; Ethereum Falls - DailyFX<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"