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The market data are taken from HitBTC exchange.
As the markets shot up, believed beginner traders that they might never fall again, and that one must only have courage and patience to HODLEN. After the nerve-wracking correction this year, most of these traders believe, however, that the crypto-currencies to Zero. You were wrong, as it went to the top, and you are wrong again, where it goes down now. The fundamentals are getting better and point to a better future.
Mike Novogratz, the former hedge Fund Manager and a Partner of the Goldman Sachs Group, Inc., said, that the markets are now sober, because the speculative mania is over. He remains optimistic and believes that Bitcoin will not go to Zero, but only in a “rehab”.
The most popular twins in the crypto area, Tyler and Cameron Winklevoss are from the current bear market is also unimpressed. You have brought up a new mobile crypto trading App with different investment functions on the market. Your crypto-exchange, Gemini, is planning, in the year 2019 in the Asian crypto-space.
But each is with a view to the future with optimism. Kenneth Rogoff, Professor of Economics and public policy at Harvard University, believes that the long-term value of Bitcoin “will probably be closer to $ 100 (88 euros) as the US $ 100,000 (88.000 euros),” as The Guardian reported.
We believe, however, that the current decline is a good buying opportunity, but traders should not expect vertical rally. The markets are likely to form a major bottom, before starting a new upward trend.
BTC/USD
Bitcoin is currently in a channel case. The cops have tried in the last three days, to defend the brand of 3,500 US dollars (3.078 Euro). A case under this initial support will lead to a re-Test of lows of 7. December of 3,329,05 US Dollar (2.928,36 Euro).
If the cops $ 3,500 (3.078 Euro) can hold, could lie down on the BTC/USD Pair on a Pullback to the resistance line of the channel, which lies slightly below the 20-day EMA. We expect that this level will act as a rigid resistance.
Although the sliding fall averages, the RSI for a few days, a positive divergence. This is a positive sign. If the price rises above the 20-day EMA, we can expect that the Pullback will reach the next overhead resistance at $ 5,000 (4,398 m Euro).
If it does not succeed, the 20-day EMA break out, and it comes to a case under 3.329,05 US Dollar (2.928,36 Euro), will be tested for the mark of 3,000 US dollars (2.639 Euro). If this support is also broken, the next support at 2416,52 US Dollar (2.125,66 euros). We assume, however, that the leading digital currency will hold in the Zone between 3,000 US dollars (2.639 Euro) and $ 3,500 (3.078 Euro), therefore, we have recommended in our previous analysis of a purchase.
XRP/USD
Since the fall below the support at 0,33108 US Dollar (0,2910 Euro) have tried the cops, Ripple above the Low of 7. To keep December, which was 0,28600 US Dollar (0,2514 Euro).
A case of 0.286, US Dollar (0,251 Euro) and the support line of the channel can lead to a drop to the lows of 14. August, the was 0,24508 US Dollar (0,2154 Euro). If this level is breached down, the next support is at $ 0.15 (EUR 0.13).
If the cops keep up the support and above the 20-day EMA break out, we expect that the XRP/USD Pair will lie down for a rally towards the 50-day SMA. A strong increase to about US $ 0.40 (0.35 Euro) increases the probability of a rally up to the upper end of the channel at $ 0.50 (€0.44). Therefore, we recommend traders to hold their existing Long positions.
ETH/USD
Ethereum is the case under the previous support of 102,20 US $ (89,90 Euro) in a narrow range between 83 US dollars (73 euros) and 102,50 US Dollar (89,90 Euro).
The RSI has a positive divergence, which makes a Pullback increasingly likely. Above, any recovery attempt is initiated at 102,50 US Dollar (89,90 euros), the 20-day EMA and 130,50 US Dollar (114,79 Euro).
If the ETH/USD Pair below 83 US dollars (73 euros), continuing the downward trend again. The next target below is at 66 US dollars (58 Euro). Traders can wait for a bullish pattern is forming, before you open a Position.
XLM/USD
Stellar attempts of the low from stalls to create a Pullback. He broke out of the downtrend line, which indicates a certain degree of relaxation of the perpetual sale. The recovery is gaining strength, if the rate of 0,13427050 US Dollar (0,1180€) breaks out. Above the 20-day EMA and 0,184 US Dollar (0,162 Euro), constitute major hurdles.
If the XLM/USD-drops bends Some on the other hand, the overhead resistance from down and under 0,10488320 US Dollar (0,0922 Euro), may extend the downward trend to $ 0.08 (EUR 0.07). The downward sloping moving averages and the RSI is in the oversold area, indicate that the downward trend will continue. We wait until a new purchase constellation forms, before we propose any Trades for this Pair.
EOS/USD
EOS is broken out of the downward trend line, suggesting that there are fewer sales. The Trend remains negative, however, since both of the sliding fall averages and the RSI is in the oversold area.
the is act, If the cops can be the immediate resistance of 2,1733 US Dollar (1,9103 Euro) break out of the Pullback extend to the 20-day EMA, probably as a rigid resistance. A break above can bring the EOS/USD Pair on 3,8723 US Dollar (3,4038 Euro).
If the next case is not under the Deep von of 1.55 US-Dollar (EUR 1.36), we can confirm that a bottom has been reached. If the next case, however, the Depth of 7. December breaks, it can fall the digital currency to 1.20 US dollars (1,06 euros). Traders should still wait until the pattern reverses, before opening Long positions.
BCH/USD
Bitcoin Cash is under the Low of 7. December of 94 U.S. Dollar (83 euros) and reached at 11. December 92,13 US Dollar (81,04€), a new low for the year. This indicates a lack of buyers even at the current levels.
Currently, the bulls are trying to lift the rate back to above 94 US- $ (83 euros). If this is successful, the BCH/USD Pair continues to be in the range between 92,13 US Dollar (81,04€) and 115,61 US Dollar (101,69 EUR). Both moving averages tend to be downward and the RSI is well in the oversold area. This confirms that the Trend is on the decline and no signs of a turnaround are visible.
The first signs that a buyer would be if the cops are about 116 US dollars (102 euros) to break out and close (UTC). In such a case, the Pullback can extend to the 20-day EMA. Although the digital currency had, in the past, vertical rallies, we recommend traders to wait until there are buyers, before you start a trade in.
BSV/USD
While the other crypto-a floor currencies signal education, launches Bitcoin SV at higher levels of sales.
in the last five days of the BSV/USD Pair has fallen gradually and reached the lower end of the range. A case under the margin may lead to a re-Test of the level of 38,528 US Dollar (33,866 euros).
When the cops can jump from the lower end of the range from back up, it is expected that the digital currency reached the upper end of the range in 123,98 US Dollar (109,06 Euro). The trade within a price range can be volatile, therefore, we wait until there is a breakout from the range before we recommend a trade.
LTC/USD
Litecoin has consolidated in the last five days of the close at the lows. Although the price has held above the low of 23,10 US $ (20,32 Euro), he could not climb more high. This indicates a lack of demand at higher levels. The Trend remains negative as long as the price is below the downward trend line.
A rising demand announces when the LTC/USD Pair to hold above the 20-day EMA. The RSI has a bullish divergence, which is a positive sign.
Aggressive traders can wait until the price closes above the 20-day EMA and Long positions with a short-term target of US $ 40 (35 Euro). The Stop-Loss Limit can be set at 23 US dollars (20 Euro). The dealer should only use about 30 percent of the usual position size because it is a step that is directed against the Trend. If the digital currency falls under 23,10 US $ (20,32 Euro), you can go up to 20 dollars (18 Euro).
TRX/USD
TRON has formed a symmetrical triangle. This is usually a continuation pattern. In some cases, it acts as a reversal pattern.
If the bears make it, the triangle could be downward led trend to continue. The pattern target of such a decline is 0,00554133 US Dollar (0,0049 Euro). There is a small support in 0,00844479 US Dollar (0,0074€), which may attract some buyers.
If the TRX/USD breaks out Pair, however, about the triangle and closes (UTC), the pattern target at 0,02055867 US Dollar (0,0181 Euro). We believe, however, that 0,0183 US Dollar (0,161 Euro) will offer a rigid resistance. If the digital currency does not fall within the next few days under the triangle, or the triangle breaks out, the pattern is invalid.
ADA/USD
Cardano has consolidated near the lows. He pushes currently at $ 0.35 (0.31 Euro). A recovery is likely to meet the 20-day EMA resistance. If the bulls break above this resistance, is a recovery on 0,456 US Dollar (0,401 Euro) and then the 50-day SMA, probably.
The RSI developed a positive divergence which is a bullish sign. However, traders should wait for a down trend to the fact that the course climb to the top before buy, because of the positive differences often prove to be bear traps.
If the ADA/USD Pair from one of the Overhead bends resistors to the bottom and under 0,027237 US Dollar (0,0239 Euro), continues the downward trend again. The next Stop further down could be 0,025954 US Dollar (0,0228 Euro). We have yet to see any reliable purchase constellations, therefore we do not recommend trading.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
