Technical Analysis June 18: Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple 🚨 This article is 7 years old...
Technical Analysis June 18: Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple
6 min read
Updated: Jun. 17, 2018 at 10:25 pm UTC
Photo by Sonaal Bangera on Unsplash
The cryptocurrency bear market continues as the market has fallen $23 billion in the past seven days. This week, using technical analysis, we will try to figure out if the downward trend is continuing or fading.
Disclaimer: This article is not meant to constitute trading/investment advice. Please use extreme caution when trading any cryptocurrency.
For this article, we will be using a handful of terminology that non-technical traders may not be familiar with. These terms are at the end of this article under “Glossary.” If you would like to read those terms now, click here.
Bitcoin Market Data
At the time of press 10:25 pm UTC on Jun. 17, 2018, Bitcoin is ranked #1 by market cap and the price is down 1.59% over the past 24 hours. Bitcoin has a market capitalization of $110.56 billion with a 24-hour trading volume of $3.23 billion. Learn more about Bitcoin ›
Crypto Market Summary
At the time of press 10:25 pm UTC on Jun. 17, 2018, the total crypto market is valued at at $275.93 billion with a 24-hour volume of $9.95 billion. Bitcoin dominance is currently at 40.07%. Learn more about the crypto market ›
Most cryptocurrencies are far below the cloud testing April support levels. If these levels don’t hold up, expect to see major capitulation.
From a fundamental analysis point of view, most would expect cryptocurrency markets to see an increase after the SEC declared Bitcoin and Ethereum to not be securities. This change not only affects the mentioned currencies but their popular forks Bitcoin Cash and Ethereum Classic. However, the downward trend proves to be clear, as bullish news had little effect on the markets.
As always, use caution when trading and do your own research before investing in or trading cryptocurrencies. This post is simply an interpretation of the current market and has no guarantees of playing out as expected.
To see some more cryptocurrency and trading-related content, follow Austin on Twitter.
Glossary
Here are the definitions for each of the technical analysis terms used in this article.
- Senkou Span A – an indicator that is used to measure momentum, as well as future areas of support and resistance. Senkou Span A is always drawn in relation to Senkou Span B – together, they form the cloud.
- Senkou Span B – forms the cloud along with Senkou Span A. Traditionally when Senkou Span B is located below Senkou Span A, it is a symbol of bullish price movement.
- Senkou Span cross – The cloud is an area of uncertainty. Most traders do not make a move until price closes above or below the cloud – although, when the Senkou Spans cross one another, many traders use the indicator to predict the reversal of a current price trend.
- Kumo Twist – The Ichimoku Cloud is a Japanese trading strategy, and ‘Kumo’ means cloud in Japanese. The Kumo Twist is just a nickname for a Senkou Span cross.
- Tenkan-Sen – The Tenkan-Sen is used in conjunction with the Kijun-Sen to predict long and short positions. The formula for the Tenkan-Sen’s calculation takes the highest high and the lowest low and divides it by two over the last seven to eight time periods.
- Kijun-Sen – Similarly to the Tenkan-Sen, the Kijun-Sen is calculated using the same formula, but it usually includes the last 22 time periods. The Tenkan-Sen highlights short-term price movement, while the Kijun-Sen gives a better idea of long-term price movement.
- TK crossover – When the Tenkan-Sen crosses above the Kijun-Sen, it is an indication of bullish price movement. Conversely, the Tenkan-Sen crossing below the Kijun-Sen is a bearish sign. Both of these signals are known as a TK crossover. The location of the TK crossover impacts the strength of the signal. For example, a bullish TK crossover below the cloud is in bearish territory, and therefore a weak signal. On the other hand, a bullish TK crossover above the cloud is a strong signal.
- Chikou Span – Otherwise known as the Lagging Span, Chikou Span shows where the price was 26 periods before the most recent closing price. An upwards Lagging Span above price shows bullish momentum, while a Lagging Span below price shows bearish momentum.
- Volume – Is the amount of a stock, currency or asset exchanged in a given period of time. This can be expressed in terms of the unit (ex. Bitcoin) or standardized in terms of a currency such as dollars.
- Momentum – Momentum measures the strength or rate of acceleration of price action.
Ethereum Market Data
At the time of press 10:25 pm UTC on Jun. 17, 2018, Ethereum is ranked #2 by market cap and the price is down 2.04% over the past 24 hours. Ethereum has a market capitalization of $49.64 billion with a 24-hour trading volume of $1.28 billion. Learn more about Ethereum ›
Crypto Market Summary
At the time of press 10:25 pm UTC on Jun. 17, 2018, the total crypto market is valued at at $275.93 billion with a 24-hour volume of $9.95 billion. Bitcoin dominance is currently at 40.07%. Learn more about the crypto market ›
Most cryptocurrencies are far below the cloud testing April support levels. If these levels don’t hold up, expect to see major capitulation.
From a fundamental analysis point of view, most would expect cryptocurrency markets to see an increase after the SEC declared Bitcoin and Ethereum to not be securities. This change not only affects the mentioned currencies but their popular forks Bitcoin Cash and Ethereum Classic. However, the downward trend proves to be clear, as bullish news had little effect on the markets.
As always, use caution when trading and do your own research before investing in or trading cryptocurrencies. This post is simply an interpretation of the current market and has no guarantees of playing out as expected.
To see some more cryptocurrency and trading-related content, follow Austin on Twitter.
Glossary
Here are the definitions for each of the technical analysis terms used in this article.
- Senkou Span A – an indicator that is used to measure momentum, as well as future areas of support and resistance. Senkou Span A is always drawn in relation to Senkou Span B – together, they form the cloud.
- Senkou Span B – forms the cloud along with Senkou Span A. Traditionally when Senkou Span B is located below Senkou Span A, it is a symbol of bullish price movement.
- Senkou Span cross – The cloud is an area of uncertainty. Most traders do not make a move until price closes above or below the cloud – although, when the Senkou Spans cross one another, many traders use the indicator to predict the reversal of a current price trend.
- Kumo Twist – The Ichimoku Cloud is a Japanese trading strategy, and ‘Kumo’ means cloud in Japanese. The Kumo Twist is just a nickname for a Senkou Span cross.
- Tenkan-Sen – The Tenkan-Sen is used in conjunction with the Kijun-Sen to predict long and short positions. The formula for the Tenkan-Sen’s calculation takes the highest high and the lowest low and divides it by two over the last seven to eight time periods.
- Kijun-Sen – Similarly to the Tenkan-Sen, the Kijun-Sen is calculated using the same formula, but it usually includes the last 22 time periods. The Tenkan-Sen highlights short-term price movement, while the Kijun-Sen gives a better idea of long-term price movement.
- TK crossover – When the Tenkan-Sen crosses above the Kijun-Sen, it is an indication of bullish price movement. Conversely, the Tenkan-Sen crossing below the Kijun-Sen is a bearish sign. Both of these signals are known as a TK crossover. The location of the TK crossover impacts the strength of the signal. For example, a bullish TK crossover below the cloud is in bearish territory, and therefore a weak signal. On the other hand, a bullish TK crossover above the cloud is a strong signal.
- Chikou Span – Otherwise known as the Lagging Span, Chikou Span shows where the price was 26 periods before the most recent closing price. An upwards Lagging Span above price shows bullish momentum, while a Lagging Span below price shows bearish momentum.
- Volume – Is the amount of a stock, currency or asset exchanged in a given period of time. This can be expressed in terms of the unit (ex. Bitcoin) or standardized in terms of a currency such as dollars.
- Momentum – Momentum measures the strength or rate of acceleration of price action.
XRP Market Data
At the time of press 10:25 pm UTC on Jun. 17, 2018, XRP is ranked #3 by market cap and the price is down 2.76% over the past 24 hours. XRP has a market capitalization of $20.48 billion with a 24-hour trading volume of $178.81 million. Learn more about XRP ›
Crypto Market Summary
At the time of press 10:25 pm UTC on Jun. 17, 2018, the total crypto market is valued at at $275.93 billion with a 24-hour volume of $9.95 billion. Bitcoin dominance is currently at 40.07%. Learn more about the crypto market ›
Most cryptocurrencies are far below the cloud testing April support levels. If these levels don’t hold up, expect to see major capitulation.
From a fundamental analysis point of view, most would expect cryptocurrency markets to see an increase after the SEC declared Bitcoin and Ethereum to not be securities. This change not only affects the mentioned currencies but their popular forks Bitcoin Cash and Ethereum Classic. However, the downward trend proves to be clear, as bullish news had little effect on the markets.
As always, use caution when trading and do your own research before investing in or trading cryptocurrencies. This post is simply an interpretation of the current market and has no guarantees of playing out as expected.
To see some more cryptocurrency and trading-related content, follow Austin on Twitter.
Glossary
Here are the definitions for each of the technical analysis terms used in this article.
- Senkou Span A – an indicator that is used to measure momentum, as well as future areas of support and resistance. Senkou Span A is always drawn in relation to Senkou Span B – together, they form the cloud.
- Senkou Span B – forms the cloud along with Senkou Span A. Traditionally when Senkou Span B is located below Senkou Span A, it is a symbol of bullish price movement.
- Senkou Span cross – The cloud is an area of uncertainty. Most traders do not make a move until price closes above or below the cloud – although, when the Senkou Spans cross one another, many traders use the indicator to predict the reversal of a current price trend.
- Kumo Twist – The Ichimoku Cloud is a Japanese trading strategy, and ‘Kumo’ means cloud in Japanese. The Kumo Twist is just a nickname for a Senkou Span cross.
- Tenkan-Sen – The Tenkan-Sen is used in conjunction with the Kijun-Sen to predict long and short positions. The formula for the Tenkan-Sen’s calculation takes the highest high and the lowest low and divides it by two over the last seven to eight time periods.
- Kijun-Sen – Similarly to the Tenkan-Sen, the Kijun-Sen is calculated using the same formula, but it usually includes the last 22 time periods. The Tenkan-Sen highlights short-term price movement, while the Kijun-Sen gives a better idea of long-term price movement.
- TK crossover – When the Tenkan-Sen crosses above the Kijun-Sen, it is an indication of bullish price movement. Conversely, the Tenkan-Sen crossing below the Kijun-Sen is a bearish sign. Both of these signals are known as a TK crossover. The location of the TK crossover impacts the strength of the signal. For example, a bullish TK crossover below the cloud is in bearish territory, and therefore a weak signal. On the other hand, a bullish TK crossover above the cloud is a strong signal.
- Chikou Span – Otherwise known as the Lagging Span, Chikou Span shows where the price was 26 periods before the most recent closing price. An upwards Lagging Span above price shows bullish momentum, while a Lagging Span below price shows bearish momentum.
- Volume – Is the amount of a stock, currency or asset exchanged in a given period of time. This can be expressed in terms of the unit (ex. Bitcoin) or standardized in terms of a currency such as dollars.
- Momentum – Momentum measures the strength or rate of acceleration of price action.
Bitcoin Cash Market Data
At the time of press 10:25 pm UTC on Jun. 17, 2018, Bitcoin Cash is ranked #4 by market cap and the price is down 2.72% over the past 24 hours. Bitcoin Cash has a market capitalization of $14.4 billion with a 24-hour trading volume of $300.02 million. Learn more about Bitcoin Cash ›
Crypto Market Summary
At the time of press 10:25 pm UTC on Jun. 17, 2018, the total crypto market is valued at at $275.93 billion with a 24-hour volume of $9.95 billion. Bitcoin dominance is currently at 40.07%. Learn more about the crypto market ›
Most cryptocurrencies are far below the cloud testing April support levels. If these levels don’t hold up, expect to see major capitulation.
From a fundamental analysis point of view, most would expect cryptocurrency markets to see an increase after the SEC declared Bitcoin and Ethereum to not be securities. This change not only affects the mentioned currencies but their popular forks Bitcoin Cash and Ethereum Classic. However, the downward trend proves to be clear, as bullish news had little effect on the markets.
As always, use caution when trading and do your own research before investing in or trading cryptocurrencies. This post is simply an interpretation of the current market and has no guarantees of playing out as expected.
To see some more cryptocurrency and trading-related content, follow Austin on Twitter.
Glossary
Here are the definitions for each of the technical analysis terms used in this article.
- Senkou Span A – an indicator that is used to measure momentum, as well as future areas of support and resistance. Senkou Span A is always drawn in relation to Senkou Span B – together, they form the cloud.
- Senkou Span B – forms the cloud along with Senkou Span A. Traditionally when Senkou Span B is located below Senkou Span A, it is a symbol of bullish price movement.
- Senkou Span cross – The cloud is an area of uncertainty. Most traders do not make a move until price closes above or below the cloud – although, when the Senkou Spans cross one another, many traders use the indicator to predict the reversal of a current price trend.
- Kumo Twist – The Ichimoku Cloud is a Japanese trading strategy, and ‘Kumo’ means cloud in Japanese. The Kumo Twist is just a nickname for a Senkou Span cross.
- Tenkan-Sen – The Tenkan-Sen is used in conjunction with the Kijun-Sen to predict long and short positions. The formula for the Tenkan-Sen’s calculation takes the highest high and the lowest low and divides it by two over the last seven to eight time periods.
- Kijun-Sen – Similarly to the Tenkan-Sen, the Kijun-Sen is calculated using the same formula, but it usually includes the last 22 time periods. The Tenkan-Sen highlights short-term price movement, while the Kijun-Sen gives a better idea of long-term price movement.
- TK crossover – When the Tenkan-Sen crosses above the Kijun-Sen, it is an indication of bullish price movement. Conversely, the Tenkan-Sen crossing below the Kijun-Sen is a bearish sign. Both of these signals are known as a TK crossover. The location of the TK crossover impacts the strength of the signal. For example, a bullish TK crossover below the cloud is in bearish territory, and therefore a weak signal. On the other hand, a bullish TK crossover above the cloud is a strong signal.
- Chikou Span – Otherwise known as the Lagging Span, Chikou Span shows where the price was 26 periods before the most recent closing price. An upwards Lagging Span above price shows bullish momentum, while a Lagging Span below price shows bearish momentum.
- Volume – Is the amount of a stock, currency or asset exchanged in a given period of time. This can be expressed in terms of the unit (ex. Bitcoin) or standardized in terms of a currency such as dollars.
- Momentum – Momentum measures the strength or rate of acceleration of price action.
Litecoin Market Data
At the time of press 10:25 pm UTC on Jun. 17, 2018, Litecoin is ranked #6 by market cap and the price is down 3.23% over the past 24 hours. Litecoin has a market capitalization of $5.41 billion with a 24-hour trading volume of $239.67 million. Learn more about Litecoin ›
Crypto Market Summary
At the time of press 10:25 pm UTC on Jun. 17, 2018, the total crypto market is valued at at $275.93 billion with a 24-hour volume of $9.95 billion. Bitcoin dominance is currently at 40.07%. Learn more about the crypto market ›
Most cryptocurrencies are far below the cloud testing April support levels. If these levels don’t hold up, expect to see major capitulation.
From a fundamental analysis point of view, most would expect cryptocurrency markets to see an increase after the SEC declared Bitcoin and Ethereum to not be securities. This change not only affects the mentioned currencies but their popular forks Bitcoin Cash and Ethereum Classic. However, the downward trend proves to be clear, as bullish news had little effect on the markets.
As always, use caution when trading and do your own research before investing in or trading cryptocurrencies. This post is simply an interpretation of the current market and has no guarantees of playing out as expected.
To see some more cryptocurrency and trading-related content, follow Austin on Twitter.
Glossary
Here are the definitions for each of the technical analysis terms used in this article.
- Senkou Span A – an indicator that is used to measure momentum, as well as future areas of support and resistance. Senkou Span A is always drawn in relation to Senkou Span B – together, they form the cloud.
- Senkou Span B – forms the cloud along with Senkou Span A. Traditionally when Senkou Span B is located below Senkou Span A, it is a symbol of bullish price movement.
- Senkou Span cross – The cloud is an area of uncertainty. Most traders do not make a move until price closes above or below the cloud – although, when the Senkou Spans cross one another, many traders use the indicator to predict the reversal of a current price trend.
- Kumo Twist – The Ichimoku Cloud is a Japanese trading strategy, and ‘Kumo’ means cloud in Japanese. The Kumo Twist is just a nickname for a Senkou Span cross.
- Tenkan-Sen – The Tenkan-Sen is used in conjunction with the Kijun-Sen to predict long and short positions. The formula for the Tenkan-Sen’s calculation takes the highest high and the lowest low and divides it by two over the last seven to eight time periods.
- Kijun-Sen – Similarly to the Tenkan-Sen, the Kijun-Sen is calculated using the same formula, but it usually includes the last 22 time periods. The Tenkan-Sen highlights short-term price movement, while the Kijun-Sen gives a better idea of long-term price movement.
- TK crossover – When the Tenkan-Sen crosses above the Kijun-Sen, it is an indication of bullish price movement. Conversely, the Tenkan-Sen crossing below the Kijun-Sen is a bearish sign. Both of these signals are known as a TK crossover. The location of the TK crossover impacts the strength of the signal. For example, a bullish TK crossover below the cloud is in bearish territory, and therefore a weak signal. On the other hand, a bullish TK crossover above the cloud is a strong signal.
- Chikou Span – Otherwise known as the Lagging Span, Chikou Span shows where the price was 26 periods before the most recent closing price. An upwards Lagging Span above price shows bullish momentum, while a Lagging Span below price shows bearish momentum.
- Volume – Is the amount of a stock, currency or asset exchanged in a given period of time. This can be expressed in terms of the unit (ex. Bitcoin) or standardized in terms of a currency such as dollars.
- Momentum – Momentum measures the strength or rate of acceleration of price action.
Posted In: Price Watch, Trading
