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The market data are taken from HitBTC exchange.
In a bull phase is absorbed, the offer very quickly, because the dealers want to buy at every decline. When the mood subsides, however, and the course does not have a recovery, most of the traders to be sellers.
Although it is difficult, a single reason for the continuing decline in the crypto courses to identify, could be the continuous sale of Bitcoin (BTC) by the Trustees of Mt. Gox between February and June of 2018, have exacerbated the decline.
Despite the fact that the fundamental conditions improve and crypto currencies and the Blockchain are generally accepted to be stronger, the mood is about to change, so a new one can upward trend. The Chinese billionaire Zhao Dong believes, however, that now is the time for the purchase of Bitcoin. He is of the opinion that the Only thing that would need dealer at the Moment, be patient.
Mike Novogratz, the founder of the crypto-trade Bank Galaxy Digital, believes that Bitcoin will record an increase in value and to the “digital Gold” of the crypto-currencies are becoming. He expects that BTC will in the medium term to reach US $ 8,000 (7.092 Euro).
Let us analyse Charts and the pattern identify, develop the most important crypto-currencies.
BTC/USD
In contrast to the Altcoins on Bitcoin (BTC), no clear Trend or a confirmation of a bottom. Both moving averages are flat and the RSI is just above the middle, suggesting a balance between the bulls and the bears.
The critical resistance, the one above keep an eye on is the downtrend line. An outbreak can catapult the BTC/USD Pair in the direction of 4.255 US Dollar (3.772 Euro). A double bottom will complete the pattern with a minimum target of 5.273,91,US Dollar (4.675, 64 euros).
If the bears are the leading crypto-currency,however,below the support zone between, a total of 3,236, 09 US Dollar (2.868, 99 Euro) and 3.355 US Dollar (2.974 EUR) to decrease, continuing the downward trend again. The next level, you should keep in mind, at $ 3,000 (2.660 Euro), which is a psychologically important support. This support should be broken, may extend the downward trend up to 2,600 US dollars (2.305 Euro).
We still wait, until the price trend line holds on the downside, before we are Long positions.
ETH/USD
After Ethereum (ETH) in the last three days close to the 50-day SMA, he tries again, about to break out. Over the 50-day SMA, the next resistance lies at 134,50, US Dollar (119,24 Euro). If the bulls can overcome these two Resistors, you can lie down on the crypto-currency, a rally in the direction of 167,32 US Dollar (148,34 Euro).
The ETH/USD Pair is losing momentum, if the bears make it below the first support at 116,30 US Dollar (103,11 EUR) to decrease. The Trend is negative, when the price goes back further, and under 103,20 US $ (91,49 EUR). Therefore, we suggest that traders hold their Long positions and Stop-Loss at 100 US dollars (88,66 Euro).
The flattening moving averages and the RSI is just above the middle, point to a margin. We could get in the next few days a clearer picture.
XRP/USD
Ripple (XRP) is close to the downward trend line, but could not. A small ray of light, however, is that he didn’t fall back on the support at 0,27795 US Dollar (0,2469 Euro).
The 20-day EMA flattens out gradually, and the RSI is just below the middle. This means that in the short term there is a balance between buyers and sellers. The XRP/USD Pair might remain in the next few days, in a range between 0,27795 US Dollar (0,2469 Euro) and 0,33108 US Dollar (0,2941 Euro).
A breakout above 0,33108 US Dollar (0,2941 Euro), signaling a probable trend reversal, which can lift the rate to 0.38 US Dollar (EUR 0.34) and about 0.40 US-Dollar (EUR 0.35). We could therefore suggest Long positions on 0,33108 US Dollar (0,2941 Euro). If the bears let the Couple, however, under 0,27795 US Dollar (0,2469 Euro) to fall, is a case on the low for the year at 0,24508 US Dollar (0,2177 Euro).
EOS/USD
EOS is as we had expected, about to 3.05 US $ (2,70 Euro). If the bulls to overcome this level, it can extend the rise up to 3,2081 US Dollar (2,8495 Euro).
at The same time the resistance line of the large margin; Thus, traders can book part profits at about this level and the Rest with a Stop-Loss Limit and hold at 2.30 US-Dollar (€2.04). We don’t want to book the profit for the entire Position, since a breakout above 3,2081 US Dollar (2,8495 Euro) can lead to a recovery on 3,8723 US Dollar (3,4394 Euro).
The 20-day EMA is trending gradually upwards and the RSI is near the overbought area. This suggests that the bulls are in the short term, a slight advantage.
If the course bends, however, contrary to our acceptance of the current levels to the bottom, can fall back the EOS/USD Pair on the moving averages, which should act as strong support. A case of this suggests that the bears have the upper hand. Then a decline to 2,1733 US Dollar (1,9304 Euro) is likely to be.
LTC/USD
Litecoin (LTC), it is about the overhead resistance at 47,246, US Dollar (41,965 Euro) to sales. The correction can extend to the 20-day EMA, which is just below the downward trend line. We expect the price bounces from this support back to the top.
This recovery will try again on 47,246 US $ (41,965 Euro) break out. If that succeeds, may extend the rally up to 56,910 dollars (50,549 Euro).
If LTC/USD no support at the downtrend line and the 20-day-EMA receives, it may slip off on the 50-day SMA. Including a new Test of the support at 27,701 US Dollar (24,605 Euro) is likely to be.
Because the 20-day EMA is rising and the RSI is near the overbought area, one can conclude that the cops have an advantage. Therefore, we suggest that traders hold their Long positions and Stop-Loss at US $ 33 (29,26€).
If the next attempt to climb to the top, and has 47,246 US $ (41,965 Euro) on-resistance, traders can book partial gains and the stop for the remaining Position to breakeven.
BCH/USD
Bitcoin Cash (BCH) in the last three days at about 121 U.S. dollars (107,27 Euro). The Attempts of this level to move, failed.
The 20-day EMA is flat, but the 50-day SMA is trending gradually down. A decline and close below 121 US $ (107,27€) the BCH/USD Pair to 105 US dollars (93,09 Euro) to decrease. This support does not hold, you can extend the decline to 73,50 US Dollar (65,16 EUR).
If the Pair from the current levels will jump again back to the top, it can be up to 141 US dollars (125 euros) to climb. A breakout above the moving averages and overhead resistance at 141 US dollars (125 euros) signals strength. Since BCH for vertical rallies is well-known, could we suggest to open Long positions at a closing (UTC) about 141 US dollars (125 Euro).
TRX/USD
Although the cops Tron (TRX) were able to keep for three days above the 50-day SMA, you can achieve a jump back to the top. This indicates a lack of demand at these levels.
The 20-day EMA is trending down and the RSI has slipped into the negative range, suggesting that the bears have in the short term, the upper hand. Without a strong leap back to the top within the next few days, the chances of a decline below the 50-day SMA.
The support below is 0,02113440 US Dollar (0,1877 Euro). This level is broken down, it can extend the decline to the critical support at 0,0183 US Dollar (0,0163€).
The TRX/USD Pair signals first, then strength, when it comes to an outbreak, and the conclusion (UTC) above the overhead resistance of 0,02815521 US Dollar (0,0250 Euro). Until then, each time you increase a lot of sales. Traders who hold Long positions, your Stop Loss Limits in the case of 0,023 US Dollar (0,0204 Euro) left.
XLM/USD
even Though Stellar (XLM) is located close to the low for the Year, there are no buyers for it. The cops were able to since 10. January of this year, the 20-day EMA climbing.
The Trend is still declining, since both the moving averages tend to be downward and the RSI is near the oversold level. A case under the lows to continue the downtrend again. As a result, the XLM/USD can fall-Few on 0,05795397 US Dollar (0,0515 Euro).
First signs of a recovery are visible, if the cops lift the price above the downward trend line. Such an increase can lead to a rally in the direction of 0,13427050 US Dollar (0,1193 Euro). Since the Pair has so far had a very weak performance, we are waiting for a reliable purchase constellation, before we suggest a trade.
BNB/USD
After he has reached the overhead resistance zone of between US $ 10 (8,87 euros) and $ 12 (10,64 EUR), the Binance Coin (NBB) is currently a slight correction. The decline can extend to the 20-day EMA, which is likely to serve as a strong support. Since both the moving averages to the top tend to be and also the RSI is in the overbought area, the Trend is in favour of the bulls.
traders can wait for a decline to the NBB/USD Pair, before opening Long positions. A breakout above the Zone between the 10 US-Dollar (8,87 euros) and $ 12 (10,64 EUR) can catapult the price to 15 dollars (13,30 Euro) and about 18 US dollars (15,96 Euro).
A case under the 20-day EMA would be a first indication that the Pair is losing momentum. Below the 20-day EMA, next support at the 50-day SMA, could hold the last two declines.
BSV/USD
Although Bitcoin SV (BSV) has difficulties on the 20-day EMA break out, he has not yielded much, which is a positive sign. In the last three days he has received support in 65,031 US Dollar (57,762 Euro).
A case under the support of the BSV/USD-Pair to the next support zone between 57 US $ (50,53 Euro) 58,072 US $ (51,581 Euro) to decrease. The Pair falls below this Zone, a re-Test of the lowest level in 38,528 US $ (34,221 Euro).
If the cops can, however, force a turn from current levels, a rise to the 50-day SMA, probably. Although it is a very aggressive step, we could Long positions above the 50-day SMA to suggest. Until then, we remain in the Pair neutral.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
