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Bitcoin is back in the range and in these conditions it targets 2 areas.

The first one is in the middle of the range at around $8.6k and the main support area at $7.7.

Looking for these two areas for strength in order to open a long position.

The scenario for shorting will come in place if we come back to $9.3-9.5k and get rejected from resistance.

Then we will have a confirmation and we can take short to one of two mentioned support areas.

Bitcoin fees approaching the highest point in the last 2 years.

So far, the only visible impact of Bitcoin halving was the increase in transaction fees that went from $0.5-1 to $5-6.

What does this mean?

This means that Bitcoin miners are in control to do anything they need to keep operating above break even.

From one point, this is great because we should not be worried about network stability. MIners will keep mining Bitcoin and if block reward is not enough for them, they can easily increase the transaction fees so they can cover the operational costs.

The other side is that this weakens the chance to see Bitcoin as a payment method that people will be using on a daily basis because currently, the fees are more expensive than the price of a cup of coffee.

This makes me think that Bitcoin’s purpose is being a store of value, something similar to gold and not a payment method.

Feel free to share your opinion with me by reaching out to @CryptoSignalsAdmin.

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Any move into red area that gets rejected should be used as the confirmation for a short trade setup.

Bitcoin in the range targets the middle of the range ($8.6) and main support ($7.7).

A daily close above TP1 and Bitcoin will invalidate short trade setup and target previous high ($10 100) and TP2 ($10 500).

The blue area is very important for Bitcoin because as long as it closes above that area, it will keep forming higher lows that are indications of an uptrend.

The moment it closes below, we can target the green area and maybe lower.

The short position I got 2 days ago got closed and now I’m waiting for the next sign.

For bearish scenario, it would be daily close below blue area and then on lower time frames I would try to get as a better short entry as possible.

For a bullish scenario, I want to see close TP1 to look for a long entry.

The area in between is wide but anything can happen there and because of that, I will avoid any swings in that zone.

Bitcoin’s fees are returning to normal after pre and post-halving increases.

It reached a peak of $6.65 and currently just above $3.

Keep in mind that the average fees for 2019 were below $1, we expect this trend to continue and to see transaction fees to decrease further.

It will ensure better user experience, faster confirmation and will allow people around the globe to transfer value globally for a few cents.

Keep hodling!

"Cryptocurrencies Including Bitcoin Are Not an Asset Class" — Goldman Sachs

What else to expect?

While the fiat currencies are being inflated endlessly, Bitcoin’s inflation rate is dropping every day.

The future will show who was right.

Keep hodling!

Bitcoin is still in an uptrend after forming another higher high.

With daily closure above TP1, it will be targeting $10 100 and further TP2.

Those are two targets if we see daily of H4 close above TP1.

Ethereum on the way to $280-300 region after this breakout.

We can expect this target to be reached in the next 2 weeks.

With the recent price action, this accumulation can send ETH all the way up to $280-300 area if we see a breakout.

So if we get the close above the red area, we are aiming for resistance and our setups in the next 2-3 weeks will be pointing in that direction.

These are two targets for Bitcoin.

It came very strongly from the blue area to TP1 and I expect to see continuation going in the week ahead of us.

What’s your opinion on Bitcoin?
anonymous poll

I’m bullish – 181
👍👍👍👍👍👍👍 51%

I’m bearish – 121
👍👍👍👍👍 34%

I’m neutral – 55
👍👍 15%

👥 357 people voted so far.

Which altcoinn you want me to analyse in details (Technicals and Fundamentals)?
anonymous poll

Ethereum – 215
👍👍👍👍👍👍👍 58%

Ripple – 85
👍👍👍 23%

Litecoin – 47
👍👍 13%

Bitcoin Cash – 23
👍 6%

👥 370 people voted so far.

I see a lot of discussion about the red dot that has been released and many people are misinterpreting its meaning.

So, a higher ratio indicates that the commodity is increasingly scarce - and therefore more valuable as a store of value.

It means, if the red dot is printed, the Bitcoin scarcity is at the highest point.

Does it mean that the price will instantly follow scarcity increase and that we should expect a big move up?

It doesn’t but observing the price action in the history, it was the catalyst for the bull run each time it happened (2 times).

Most of you voted for Ethereum so in about 30 minutes, you can expect an update on ETH/BTC and ETH/USD pair as well as review of Ethereum’s fundamentals.

Stay tuned!

Fundamentally, Ethereum is expecting one of the biggest updates in this year.

Ethereum 2.0 that was planned for June/July 2020 is postponed but the sayings are still optimistic expecting it to happen by end of 2020.

There’s anticipation in the community and the accumulation that is currently skyrocketing.

As you can see, the amount of ETH addresses that hold more than 32 ETH is at the all-time high.

All these addresses will be eligible for stacking rewards when Ethereum 2.0 goes live.

So, accumulation is spiking and that’s something no one is talking about. Most of them cheers after the price goes up but this is the cause why the price will potentially go up.

By end of the year, Ethereum is definitely expecting a lot of positive news and we’ll hopefully see the ETH 2.0 going live!

ETH/BTC chart is currently sideways on a macro view and can go in either direction.

Lower highs and higher lows are the confirmation of the current range and the market without a trend.

Once we see either higher high or lower low forming, we will have potentially a beginning of the new trend in the market.

For an uptrend, we need daily and weekly closure above the previous high (red area).

ETH/USD chart is still targeting the $280-300 area.

It can blast through that area and can also be rejected to $200 price point.

I was talking recently about ETH/USD crossing and my opinion is still the same.

It’s strong both because of ETH/BTC pair and strong Bitcoin/USD.

Is it a good idea to buy and hold Ethereum?

Out of many altcoins, Ethereum is still a leader and still one of my favorite ones.

I do hold and will keep holding because of charts that look decent and especially because of upcoming fundamentals that should happen in a few months.

So, as an investment, I do hold but as a trade opportunity, it depends on the setup. In trading, you can make money in either direction so find the setup with positive R/R that’s in alignment with the trend and good luck.

I hope you like my overview of Ethereum fundamentals and analysis of both ETH/BTC and ETH/USD chart.

Which altcoin you want me to analyse next? (Technicals and Fundamentals)
anonymous poll

Cardano (ADA) – 121
👍👍👍👍👍👍👍 41%

NEO – 101
👍👍👍👍👍👍 34%

TRON – 49
👍👍👍 17%

EOS – 25
👍 8%

👥 296 people voted so far.

If you have some questions or you want to suggest which coins to add in the next pool, feel free to reach out to @CryptoSignalsAdmin