Yesterday, Bitcoin (+2.2% over 24H) finally had the strength to move above $10,150. Other coins timidly followed. The stellar chart of the day was Cosmos (Atom) up +16%. Binance coin (+3%), Monero (+1.42%) and Cardano (+1.09%), were the top ten more bullish altcoins. Market cap moved up +$264 billion and Bitcoin Dominance increased to 70.3%.
The below interactive heat map shows the current 24H change of the sector
What is happening
Blockchain-based Digital Gold launched a GOLD ERC20-Compliant token, representing a digital version of gold. It is based on Ethereum and is audited and can be verified at any time. More information at coinspeaker.com.
Coinbase adds Dash to its institutional platform Coinbase pro. DASH will be available only on institutional accounts, although it will be added to retail accounts at a later date, according to the announcement.
North Korea will be holding its second crypto and Blockchain conference next February. The first event, which attracted 100 persons, was declared a success and a second conference was promised. Source: coindesk.com.
CME announced it intends to double its monthly Bitcoin futures trading volume to BTC 10,000 ($100 million) Source: cryptoslate.com.
Increased spot-month position limits in CME Bitcoin futures will be available Sept 30, pending reg review. Limits will increase to 2K contracts, equal to 10K bitcoin, to provide customers greater flexibility to trade and hedge bitcoin price risk. #bitcoinhttps://t.co/8lu1hRYNDW pic.twitter.com/z0ZSUgnGyx
— CMEGroup (@CMEGroup) September 12, 2019
Technical Analysis
Bitcoin
Bitcoin has cut its descending leg and crossed the $10,150 resistance level yesterday noon. The price kept moving and found selling pressure at $10.450. The price is now above the +1 Bollinger band, which is bullish, and the MACD has made a bullish crossover. Volume has been decreasing, which shows not all buyers are entering this movement, afraid for yet another bull trap.
Ripple
Ripple bounced off of the supply zone but lacked buyers to keep moving the price upwards. Not it is stalling near the mid-Bollinger line. The MACD is making a bullish transition. That may show the sentiment is shifting.
Cosmos (Atom)
Cosmos is the star of the day. Yesterday went up 16%, but it is up close to 50% since September 6. That was achieved with an increased volume. Right now the price needs a bit of consolidation, but given the potential upside of this coin, it should be in the eyes of crypto enthusiasts.
Litecoin
Litecoin is showing weakness. The price is close to breaking the $68.8 support level and moving below the -1 Bollinger line. The MACD still in bearish mode, it didn’t take benefit of the advances of the Bitcoin. The sizeable bearish candlestick made yesterday is still dominating the price action. A close above $70 would change the outlook of this altcoin.
Ethereum
Ethereum’s price was rejected from the $182 level and now is below $180, that made a lower high pattern. The price is finding support in the mid-Bollinger line, but if it continues dropping, it may continue to pay a visit to the lower side of the descending channel in which price seems to be moving. Of course, that may change if the Bitcoin takes new buyers on board.
