Elliott waves crypto analysis – Buy Ripple around 0.6815

XRP –

Buy Ripple around 0.6815

Wave Analysis:

Almost two months ago, Ripple established a major support at 0.6815, and is still pretty much contained above it. We expect this level to have marked the end of the corrective wave (2) that any clear movements to the upper side will be the unfolding of the next impulsive wave (3) and should break above the end of the first impulsive wave (1), 3.2898, towards 5.000 or even higher. This cryptocurrency has the same potential as bitcoin, and may break to highs such as $10k or even higher. Keep in mind that in the year 2011, one bitcoin was going for as low as $8.20, just 7 years later it was $20k, Ripple has the same potential.

Trade Recommendations:

Buy Ripple around 0.6815

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Cardano Price Technical Analysis – ADA/USD Bearish Below $0.35

Key Highlights

  • ADA price is struggling to recover and it recently declined below the $0.3200 level against the US Dollar (tethered).
  • There is a major declining channel forming with resistance at $0.3205 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair is currently correcting higher, but it may face a lot of resistance near $0.3250 and $0.3500 in the near term.

Cardano price declined further against the US Dollar and Bitcoin. ADA/USD is currently trading well below the $0.3500 level and in a bearish zone.

Cardano Price Decline

There was no major recovery in ADA price above the $0.3600 level against the US Dollar. The price did not move above the $0.4000 resistance and declined once again. During the recent slide, it broke the $0.3500 and $0.3300 support levels. It even traded below $0.3200 to test the $0.3000 area. A low was formed at $0.2995, and the price is currently consolidating losses around the $0.3000 level.

It is testing the 23.6% Fib retracement level of the last drop from the $0.3866 high to $0.2995 low. It seems like the price may find it hard to break the $0.3200 and $0.3300 resistance levels in the short term. There is also a major declining channel forming with resistance at $0.3205 on the hourly chart of the ADA/USD pair. The channel resistance at $0.3205 is near the 23.6% Fib level. If there is a break above $0.3205, the price may correct further higher. The next major resistance is near $0.3430 and the 50% Fib retracement level of the last drop from the $0.3866 high to $0.2995 low.

Cardano Price Technical Analysis ADA USD

On the downside, the $0.3000 level is a major support. If the price fails to stay above $0.3000, it could even trade back towards the $0.2500 level in the near term.

Hourly MACD – The MACD for ADA/USD is slowly recovering and is showing positive signs.

Hourly RSI – The RSI for ADA/USD is moving higher towards the 45-50 levels.

Major Support Level – $0.3000

Major Resistance Level – $0.3500

 

Charts courtesy – Cryptowat, Bittrex

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California couple charged with torture of kids due in court

Author: 
AP
Fri, 2018-02-23 03:00
ID: 
1519371562416300100

RIVERSIDE: A California couple charged with torturing their children by starving, beating and shackling them is due in court on Friday.
David and Louse Turpin are scheduled to appear in a Riverside courtroom for a conference about their case.
They have pleaded not guilty to torture and other charges and each is held on $12 million bail.
The couple was arrested last month after their 17-year-old daughter escaped from the family’s home in Perris, California, and called 911. Authorities said the home reeked of human waste and evidence of starvation was obvious, with the oldest sibling weighing only 82 pounds.
The case drew international media attention and shocked neighbors who said they rarely saw the couple’s 13 children outside the home. Those who saw the children recalled them as skinny, pale and reserved.
Authorities said the abuse was so long-running the children’s growth was stunted. They said the couple shackled the children to furniture as punishment and had them live a nocturnal lifestyle.
The courtroom conference is expected to focus on date-setting and other procedural issues. The district attorney’s office has drafted an amended complaint but it has yet to be filed in court, officials said.
It is not immediately clear where the children, who range in age from 2 to 29, are now. They were hospitalized immediately after their rescue and since then county authorities have declined to discuss their whereabouts or condition.
Riverside County has obtained a temporary conservatorship for the seven adult siblings, who declined to speak with reporters through their attorneys.
“Our clients need time, space, and privacy while they receive services and begin the difficult process of rebuilding their lives,” Caleb Mason, an attorney for the siblings, said in a recent statement.

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Technical crypto analysis based on breakout – Buyers wait at $669.62

ETH –

Buyers wait at $669.62

Technical Observation:

ETH is still rallying within a broad range, $669.62-$1393.69. These two levels are the key zone to look for a potential buy or sell respectively, as it is on the chart attached, I expect a surge to the lower side with my take profit seen at 669.62. If this line is breached, then I expect a momentum towards $178.00 or even lower. A rejection around $669.62 will call for a long position towards $1393.69. On the way upwards, the key lines to look for include 954.08, $1234.62 and $1393.69. if these lines are broken, then I expect a rally even higher towards $2000.00.

Trade Signal.

Buyers should wait for a rebound from $669.62 to long ETH towards $1393.69

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Technical crypto analysis based on breakout – Expect more volatility to the lowerside

XRP –

Expect more volatility to the lowerside

Technical Observation:

Just a couple of days ago, XRP slide below the $1.0000, and is still below it. Yesterday, XRP slide further and went below a potential support zone 0.9281-0.5833 and has just ratraced back to it. The current upward movements are just pullbacks and may not close above 0.9281, while the price remains below 0.7018, I expect seller to take charge. I choose to pick a short position now towards 0.7018, a breach below this support will mean waiting for a pullback to the just broken line ($0.7018) to resell XRP with my next take profit being $0.6000 and may go lower to $0.2300.

Trade Signal.

Sell XRP now with the first take profit at $0.7018

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Technical crypto analysis based on breakout – Expect more volatility

BTC –

Expect more volatility

Technical Observation

Earlier this week, BTC established a fresh weekly high ($11640.5) but two days later, it has shaded almost 8% the value it gained. I’m still a bit reluctant to long this Crypto especially while its below $11640.50, but a breach above it, will imply waiting for a rise above $11904.0 to confirm a bullish movement towards $14195.96. As it is on the 4 hour chart, its ideal and safer to stick to short orders with potential buyers being this year’s lowest low set at $6259.3. If this support is breached, then a decline towards $1000.00 is expected. Key lines to look for include $11940.40 and $6259.3.

Trade Signal

Book profits at $6259.3

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Elliott waves analysis – Expect further bearish rally

GBPUSD – Flat

Expect further bearish rally

Wave Analysis:

From an longer point of view, a key daily support can be seen at 1.3612. As long as the price is contained above it, we expect further movements to the upper side. However, as at now, we’re waiting for a corrective rally towards 1.3612 to pick a long position with an ultimate target at 1.4825. This bullish view will only be invalidated in case the price break below 1.3612, this being the case, we expect further decline towards 1.3135 or even lower. This pair should be traded alongside GBPHKD, GBPCHF, GBPAUD and GBPNZD. These pairs have a strong positive correlation of up to +52% and will move in the same direction today.

Trade Recommendations:

Expect further bearish rally towards 1.3612 or even lower

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Elliott waves analysis – Rebuy this pair around 1.2184

EURUSD – Up

Rebuy this pair around 1.2184

Wave Analysis:

Since yesterday, no significant move has been seen towards our buyer zone seen at 1.2184-1.2150. We still expect a drop to this zone to pick a low risk buy position. The anticipated bullish price movements is the unfolding of the impulsive wave (5) to the upper side and should break above 1.2770 towards 1.30. This bullish anticipated can only be invalidated in case the price break below 1.2184, this being the case, we’ll wait for another break below 1.2150 to confirm another bearish rally towards 1.1535. This pair should be traded alongside EURHKD, EURCHF and EURAUD. These pairs have a strong positive correlation of up to +52% and will move in the same direction today.

Trade Recommendations:

Re buy this pair around 1.2184 towards 1.2770

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Hearing set on if US will seize assets of ‘Pharma Bro’

Author: 
AP
Fri, 2018-02-23 03:00
ID: 
1519366997266133400

NEW YORK: “Pharma Bro” Martin Shkreli is due back in court Friday for a hearing about whether he should forfeit millions of dollars in assets including a one-of-a-kind Wu-Tang Clan album as part of his conviction in a securities fraud scheme.
Prosecutors are expected to argue in federal court in Brooklyn that Shkreli is on the hook for more than $7 million. Along with the Wu-Tang Clan “Once Upon a Time in Shaolin” album that Shkreli has boasted he bought for $2 million, prosecutors have said he should give up $5 million in cash in a brokerage account, his interest in a pharmaceutical company and other valuables including a Picasso painting.
The defense has said the brash former pharmaceutical CEO owes nothing because in the end, his investors did not lose the money.
Shkreli, 34, is perhaps best known for boosting the price of a life-saving drug and for trolling his critics on social media where he became known as “Pharma Bro.” A jury convicted him in August of cheating investors in two failed hedge funds.
Shkreli was out on bail during his trial but was jailed afterward when a judge decided he had made veiled online threats against Democrat Hillary Clinton.
His sentencing is scheduled for March 9.

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