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The market data are taken from HitBTC exchange.
2019 Will be a year of recovery for crypto-currencies? One of the most important events that you should make, is the introduction of crypto-trading platform Bakkt the International Exchange (ICE). The Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME), currently the trading of Bitcoin Futures, but both products are settled in cash.
Many believe that Futures are physically delivered in Bitcoins, as it Bakkt is planned, the institutional involvement will promote that, there has been very restrained in scope.
another important aspect of the regulations. The Winklevoss twins, founded in crypto-currency exchange Gemini calls for clearer rules for the sector, and has even launched an advertising campaign to promote this Initiative. Some of the most ardent crypto-followers, however, are against the Gemini Initiative.
In terms of a wider acceptance of the Blockchain technology, believes the strategy and corporate financial consulting firm McKinsey & Company that this has yet to as a real turning point.
We expect that the industry makes in this year’s sufficient progress to gain the institutional means to Transition to the next leg of the bull phase.
BTC/USD
The narrow margin in the case of Bitcoin, it has at the 6. January, according to the above-resolved. Currently, the bulls are trying to extend the Pullback on 4.255 US Dollar (3.712 Euro). A break of this level would complete a reverse head and shoulder pattern, in which the target is at 5,500 dollars (4.799 euros). Therefore, we maintained our buy recommendation from our preceding analysis.
If the price does not rise above 4.255 US Dollar (3.712 Euro), will be put on the BTC/USD Pair Short-seller. A case under the direct support of 3.550 US-$ (3.097 Euro), you can drag the rate back to the lows. The downward trend will continue when the Cryptocurrency reached a new low for the year.
The 20-day EMA is flat and the RSI is close to the center. This suggests a short term consolidation. The 50-day SMA tends, however, are still down, suggesting that the long-term Trend is still declining.
ETH/USD
Ethereum in the last five days at about 167,32 US Dollar (145,99 EUR). Although the bulls could not break out above the overhead resistance, it is positive that the course is not dropped.
The 20-day EMA tilts upwards and the RSI has held in the last few days over 50. This confirms that the bulls have the short term upper hand. The 50-day SMA is flat, which confirms that the long-term Trend changes.
A breakout above 167,32 US Dollar (145,99 EUR) can lead to an increase to US $ 225 (196,32 Euro), followed by a rally in the direction of 249,93 US Dollar (218,07 Euro). Our optimistic view is void if the ETH/USD Pair below the moving averages.
XRP/USD
Ripple is in a falling channel. Both moving averages are flat and the RSI is close to 50. This suggests a short term consolidation.
The XRP/USD Pair has formed a reverse head and shoulder pattern that completes a breakout and close above US $ 0.40 (0.35 Euro). In the case of such increase, the pattern target is 0,52205 US Dollar (0,4549 Euro).
the dealer can buy at a closing (UTC) about 0.40 USD (0.35 euros) and the Stop-Loss Limit at $ 0.33 (0.29 euros). Above the upper end of the descending channel resistance; Therefore, traders should raise their stops to breakeven when the Pair of rings on this level. Under $ 0.33 (0.29 euros), it is negative.
BCH/USD
Although Bitcoin could break out Cash out of the declining channel, he could not continue climbing to the top. In the last three days, the margin has shrunk, and both moving averages are flattened. The RSI is approaching the neutral range. This indicates a balance between buyers and sellers.
This close margin is likely to disappear in the next few days up or down. A breakout above the range will bring the digital currency to 239 US dollars (208 Euro), and on 307,01 US Dollar (267,87 Euro). On the other hand, an extension of the span can lower down the value to 141 US $ (123 Euro) and below 100 US dollars (87 Euro). We do not see any clear buy constellation BCH/USD Pair, therefore we do not recommend trading with it.
EOS/USD
The brand of 3 US Dollar (2.62 euros) has worked in the last few days as a rigid resistance. A breakout above the range between $ 3 (2.62 euros) and 3,2081 US Dollar (2,7954 Euro) leads EOS to the next overhead resistance at 3,8723 US Dollar (3,3741 Euro).
The moving averages are on the verge of a bullish Crossover, suggesting that the short-term Trend in favor of the cops is likely to apply.
If the EOS/USD-falls to Pair of ends, however, under the two moving averages and the brand of 2,1733 US Dollar (1,8937 Euro), it can to a re-Test of the lows of 1.55 US Dollar (EUR 1.35).
XLM/USD
The short term Trend with Stellar is in a range, while the long-term Trend is still declining. A breakout above 0,13427050 US Dollar (0,1170 Euro) would be a positive sign, which can lift the course to the next overhead resistance at 0,184 US Dollar (0,160 euros).
If the bears do not erupt, however, over the rigid overhead resistance, could remain the Coin in a narrow range until it falls below 0,11024826 US Dollar (0,0961 Euro). Below this level, the XLM/USD may test Pair to the Low of 0,09285498 US Dollar (0,0809€). We can still find no reliable purchase konstellatione; Therefore, we do not recommend trading with this Pair.
LTC/USD
Litecoin has on 6. January a reverse head and shoulder pattern completes. Thus, our previous analysis of the proposed purchase is entered constellation. The outbreak now has a pattern target of 49,756 US Dollar (43,355 Euro). If the bulls can hold above 47,246 US $ (41,168 Euro), you can climb of the course up to 56,910 dollars (49,588 Euro).
The moving averages, a bull made of Crossover and the RSI is in the positive area. This is a bullish sign. Our positive assessment is void if the LTC/USD Pair falls below 27,701 US Dollar (24,137 Euro).
BSV/USD
Bitcoin SV can not arouse the interest of the buyer. He continues to be in the narrow range between 80,352 US Dollar (70,014 Euro) and 102,58 US Dollar (89,50 Euro). This shows that the cops have no interest in to buy on the margin, and the bears under it, in turn, also do not want to sell.
bring A breakout above this range can the BSV/USD Pair to the upper end of the broader range between 80,352 US Dollar (70,014 Euro) and 123,98 US Dollar (108,17 Euro). A conclusion about 123,98 US Dollar (108,17 Euro) may extend the rally up to 167,608 US $ (146,045 Euro).
If the bears let the Couple, however 80,352 US Dollar (70,014 Euro) to fall, can it fall further on 65,031 US $ (56,665 EUR) and including 38,528 US $ (33,571 euros). It is difficult to predict in which direction it will go; Therefore, it is best to wait until the the outbreak of can 102,58 US Dollar (89,50 Euro).
TRX/USD
TRON reached our first goal of 0,0246 US Dollar (0,0214 Euro) 6. January. The next target above is at 0,02815521 US Dollar (0,0245 EUR). We expect that this level will be a strong resistance, so that traders can include 50 percent of their Long-positions at this level.
We are not proposing to close all positions, because a breakout above 0,02815521 US Dollar (0,0245 EUR) would trigger a new upward trend. The rising 20-day EMA and the RSI is almost in the overbought area, indicates that the demand exceeds short-term supply.
The 50-day SMA flattens out, which shows that the long term Trend of the TRX/USD changes Few and now going up. Our optimistic Outlook is void if the bears manage to defend 0,02815521 US Dollar (0,0245 EUR) and the digital currency on 0,0183 US Dollar (0,0159 Euro) to decrease.
ADA/USD
Cardano has on 6. January a reverse head and shoulder pattern completes, as he broke through the trend line and about the castle. Traders who have opened up on our recommendation from the previous analysis of Long positions, your Stop Loss Limits in the case of 0,036 US Dollar (0,0314€) left.
The pattern target for this breakout of the bullish, inverted head and shoulder pattern is 0,066 US Dollar (0,058 Euro). If the ADA/USD-struggling Couple, however, 0,060105 US Dollar (0,0524 Euro) break out traders can book at this level for partial profits, and the stops of the Rest to breakeven.
The rising 20-day EMA and bullish Crossover suggests that the bulls have the short term upper hand.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
