Rubix Market View (5/9/2018)

rubix (46)in #bitcoin • 7 years ago

MarketCap Top Ten

Bitcoin (BTC/USD)- up 1.6% at $9341.57
Ethereum (ETH/USD)- up 1.64% at $752.80
Ripple (XRP/USD)- down 0.12% at a price of $0.809933
BitcoinCash (BCH/USD)- up 4.78% quoted at $1,657.13
EOS (EOS/USD)- down by 1.48% at $17.96
Litecoin (LTC/USD)- down by 0.71% at $158.51
Cardano (ADA/USD)- down by 0.98% at $0.324969
Stellar (XLM/USD)- increase of 0.23% at $0.386151
IOTA (MIOTA/USD)- decreased by 3.49% at $2.32
Tronix (TRX/USD)- down 0.46% at $0.082086

MarketCap Runner Ups

Neo (NEO/USD)- up 0.04% at a price of $76.91
Monero (XMR/USD)- up 3.53% quoted at $231.10
Dash (DASH/USD)- increased by 1.02% at a price of $445.04
NEM (XEM/USD)- up 2.24% quoted at $0.385909

Price Analysis

Nothing too exciting as Bitcoin continues to stabilize, test, and strengthen the current support zone. The price has recently crossed above the 50-day Moving Average and is resting below the 200-day Moving Average which is acting as a short-term level of resistance. We will need to see BTCUSD break above the 200-day and out of the downward Linear Regression Channel you see in the chart below. Screenshot 2018-05-09 13.44.28.png

BitcoinCash looks positioned for another price increase. Take a look at the BCH/BTC Chart below and you can see that BCHBTC has just broken the top of the Linear Regression Channel and retesting the top as support. I suspect BitcoinCash will perform well this season because whether anyone likes it or not there seems to be a dedicated community backing the project and putting their money where their mouth is, so I can't even hate. Screenshot 2018-05-09 14.00.33.png