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The market data are taken from HitBTC exchange.
bottom after a long bear market not a linear process. At various intervals, we are likely to buy and sell trays to see if the bulls and bears try to establish their dominance. After a recovery from the lows, as it looked as if the bear came out of the break-in at the 24. February. Within a few minutes, the total market capitalization has fallen to about 15 billion US dollars (by 13.2 Euro).
such A sale boost is not always due to fundamental news or events. Technical factors, such as the booking of a Gain in the vicinity of a rigid resistance, and the opening of Short positions by aggressive bears can also lead to such a strong decline. While we expect in the course of soil formation, a volatility, we continue to focus on the positive fundamental developments. The longer the markets ignore the fundamentals, the stronger the eventual breakout will be.
Venezuela plans Russia the introduction of an Oil-based crypto-currency. The OPEC should examine with Russia the possibility, your energy shops in crypto instead of Petro dollar. If that happens, it would give the crypto markets a big boost. If a head of state supported the Blockchain technology and the heads of government of other countries is recommended, this shows that the time for this technology has come.
BTC/USD
The recovery in Bitcoin (BTC), which began at 3.355, US Dollar (2.952 euros), it was not on the critical resistance at 4,255 US Dollar (3.744 euros) to climb. The bear steps on 25. February, and raised the rate back to the 20-day EMA. The downward trend line that previously served as stiff resistance, should now act as strong support.
If the price bounces from the current levels back to the top, try the cops again, 4.255 United States Dollar (3.744 Euro) break out. If that succeeds, it signals a double bottom formation, in which the pattern target at 5.273,91, US Dollar (4.640 Euro). Traders are able to their Long positions with a Stop-Loss just under a total of 3,236,09 US $ (2.847,19 Euro).
When the bear, the BTC/USD Pair, however, under the downward trend line to fall, can it fall again 3.355 US Dollar (2.952 euros). The support does not hold, the next support below, a total of 3,236,09 US $ (2.847,19 Euro). Including the downward trend to continue.
Currently, both moving averages are flat and the RSI is close to the center, which indicates in the near future on consolidation. The price movement for the next few days will give us a better insight into whether or not the lower levels have been adopted, or whether only the weaker hands are sorted out.
ETH/USD
Ethereum (ETH) at 24. February a fall flight, after he had overcome the overhead resistance at 167,32 US Dollar (147,21 Euro). We hope traders have booked at the half of their Long positions gains, as we had proposed.
The decline at 24. February has made the growth of the last six days, will once again be dashed. This shows the extent of this violent fall. The ETH/USD Pair tried of the critical support at 134,50, US Dollar (118,34 Euro) to jump back to the top. The 20-day EMA is located in the vicinity, so that this level is quite important.
If this level can not be maintained, it signals the weakness and will continue to attract more sellers. Below 134,50 US Dollar (118,34 euros), a decline to 116,30 US Dollar (102,32 Euro). Therefore, traders can maintain a Stop-Loss Limit at 125 US dollars (109,98€) for the remaining half of the Position.
We don’t want to close the Position at the current level, because if the bulls manage to defend the support, you will try once more, on 177,32 US Dollar (156,01 Euro) break out.
XRP/USD
Ripple (XRP) closed on the 23. February through to the overhead resistance at 0,33108 US Dollar (0,2915 Euro) and triggered our buy recommendation. Already the next day, the digital currency was reversed, however, and fell below the two moving averages. She is currently trying to hold the immediate support at 0,29282 US Dollar (0,2578 Euro).
Both of the slide are flat and the RSI is just above 50 averages. This indicates a balance between buyers and sellers. Trader can set their Stop-Loss Limit at just under 0,27795 US Dollar (0,2447 Euro).
If the XRP/USD-gets Some on the current level of support, it will try again, 0,33108 US Dollar (0,2915 Euro) break out. If it falls, however, under 0,29282 US Dollar (0,2578 Euro), it can slide to the next support at 0,27795 US Dollar (0,2447 Euro), which should then hold. If we see in the next few days, no signs of buyers, we could propose to close the Position.
EOS/USD
EOS reached on may 23. February our goal at 4,4930 US Dollar (3,9556 Euro). He remained, however, not at this level and reversed quickly. The decline was strong as he quickly fell below the support at 3,8723 US Dollar (3,4092 Euro). We hope that traders have protected your profits on half of your Long positions, as we had recommended in the previous analysis.
Currently, the EOS/USD is trying to keep the Pair to the support at the 20-day EMA, which is trending upwards. If that succeeds, it will try again, 3,8723 US Dollar (3,4092 Euro) break out.
If the bears make it, however, under the 20-day EMA, may extend the decline to the 50-day SMA. If this support is broken, you can slip the Pair to critical support at 2,1733 US Dollar (1,9134 Euro). Therefore, a Trader can place a Stop-Loss Limit at the remaining Position at 2,90 US Dollar (€2.55).
LTC/USD
Litecoin (LTC) returned to the 24. February of just over 53 US Dollar (46,63 EUR). The case was fierce, and the support 47,2460 US Dollar (41,5953 Euro) was quickly broken. We hope to have that Trader tight Stop-Loss Limits on the half of their Long Position and profits booked, as we had proposed.
Currently, the bulls are trying to hold the 20-day EMA. If that succeeds, try the LTC/USD Pair to climb over 47,2460 US Dollar (41,5953 Euro). If the support gives in, slipping on the Pair, however, the 50-day SMA. If this support is broken, it is the Trend in favor of the bears. Thus, traders can Loss their Stop-Limits on the remaining Position at $ 40 (35,19€).
Both of the sliding flat and the RSI averages have fallen to almost 50. As a result, the probability increases that in the near future a range of forms.
BCH/USD
Bitcoin Cash (BCH) has tried its recovery on 23. February to expand. However, the strong decline on the 24. February has let him back on the moving averages are falling.
Currently, the bulls try, the flat sliding holding means. The RSI is also close to 50. If the support at the moving averages holds, can consolidate the Couple for a few days between 125 US dollars (110 euros) and 160 US dollars (141 euros).
Our assessment is void if the bears let the BCH/USD Pair below the moving averages are falling. This would lead to a drop to 105 US dollars (92 euros). Traders who have opened up on our recommendation of Long positions, Loss of their positions with a Stop at 116 US dollars (102 euros).
XLM/USD
After rising above the 50-day SMA on June 23. February returned Stellar (XLM) the next day and slipped below the 20-day EMA. If the course is EMA remains below the 20-day, he can fall to 0,0750 US Dollar (Euro) and below the Low of 0,07256747 US Dollar (0,0639 Euro).
Strong Resistances serve to increase this support. Thus, the downward trend line is likely to act as strong support. If the XLM/USD Pair bounces from this support back to the top, it will once again try to climb above the 50-day SMA.
Both moving averages are flat and the RSI is close to the center. We therefore assume that it will come in the next few days to a consolidation. As the Couple stands still in the Closer to its low for the Year, we will wait for a trend reversal, before we suggest a trade.
TRX/USD
Tron (TRX) reached the overhead resistance at 0,02815521 US Dollar (0,0248 EUR) on 24. February, bent back a little but strong from there to the bottom. The decline triggered our proposed Stop-Loss for Long positions at 0,0230 US Dollar (0,0202 Euro).
try Currently, the bulls again over the moving averages and the climb downward trend line. If that succeeds, try the TRX/USD Pair again, to come through the overhead resistance.
fall When the price goes back, however, and 0,02260516 US Dollar (0,0199 Euro) remains, can he 0,02113440 US Dollar (0,0186€) and including 0,01830000 US Dollar (0,0161 Euro). The moving averages have a downward cross-over and the 20-day EMA has started to gravitate to the bottom. This shows that the bulls have in the foreseeable future to have the upper hand.
BNB/USD
Binance Coin (NBB) is currently, as we had assessed resistance in the Zone between $ 10 (€8.80) to 12 US dollars (10,56 euros). The share price fell to 24. February of just under $ 12 (10,56 euros) to just under US $ 10 (€8.80). However, the way we like, as the course is from the 20-day EMA back to the top jumped. This shows that the bulls buy at declines.
Since both the moving averages to the top tend to be as well as the RSI in the positive range, remains in the upward trend. If the price can hold above US $ 10 (€8.80), we expect that the digital currency will consolidate for a few days between US $ 10 (€8.80) and $ 12 (10,56 euros).
Our assessment is void if the BNB/USD Pair falls below the 20-day EMA. This can lead to a decline to the next support at the 50-day SMA. A case under the 50-day SMA would give the bears an advantage. We will have to wait for a breakout above $ 12 (10,56 EUR), before we recommend a trade.
ADA/USD
Cardano (ADA) came up close to the overhead resistance at 0,051468 US Dollar (0,0453 Euro), but could not climb over it. Strong sales to this resistance pushed the price back to the moving averages. The moving averages are flat and the RSI is also in the middle. This shows that the Couple will remain a couple of days in the range.
In case of a breakout above the overhead resistance, we get a more positive image. Another Trade that might well be conceivable, would be a purchase in the vicinity of the lower end of the range, after there was a sharp jump upwards. Such an investment allows traders purchases closer to make a strong support. We are going to propose this Trade, however, only if the ADA/USD Pair has recovered from the key support at 0,036815 US Dollar (0,0324 Euro). We see at the current level no purchase constellation.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
