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The market data are taken from HitBTC exchange.
The selling pressure on the crypto-currencies has a total market capitalization of the 7. December drawn to 106 billion US dollars. The crypto markets have lost more than 87% of the value from the record high of the end of 2017.
The last wave of selling started to travel, when it became known that the us securities and exchange Commission (SEC) of its decision on the admission of a Bitcoin ETFs is still up to the 27. February of the new year is move.
in consideration of the Directional Movement Index and Average Directional Index Bloomberg Analyst Mike McGlone says that Bitcoin will continue to fall up to $ 1,500 dollars.
The current period of weakness has scared off many private investors. Nevertheless, the asset Manager Morgan Creek Digital, your Digital, Index Fund — consisting of 10 major crypto currencies in the next 10 years, a better yield is achieved when the SPX (S&P 500 Index). Morgan Creek Digital would even bet 1 million dollars on this claim.
The bear market was for the Stablecoin Tether so far is helpful, which this was able to its market capitalization continue to the top screws. In the meantime, he is with regard to this even at rank 6, and in striking distance to the Top-5.
Bitcoin SV, the split has recently, in a Hardfork of Bitcoin Cash (BCH), will now be traded for a short period of time. From now on, we will take this Coin in our analysis.
BTC/USD
Bitcoin has fallen to a low for the year, and the crash speed does not seem to let up. The previous Low of 3.620,26 the US Dollar was not able to act as a Support, in which a lack of buying interest in reading. We think that the range between 3.000 – 3.500 US dollars, however, will be a stronger Support.
the BTC/USD Should fall-Few, however, under the $ 3,000 mark, then the fall may continue up to 2.416,US $ 52, which would correspond to the objective of the course.
The current Situation is exactly the opposite at the end of last year, as the courses shot suddenly up shot and the investors out of more of a positive development. In the present situation, rule sets, however, the rights of doom and gloom. We believe, however, that the sale is over-saturated pressure, which should have a speedy recovery.
Before we recommend new Long positions, we want to see indicators for a solid buying interest. Our previous positions, we have closed at 3,800 and 3,500 U.S. dollars.
The next Bitcoin (BTC) falls, the closer he moves to the any floor. Accordingly, we recommend Long positions as soon as a base was building. In such a case, we advise, again, the full position size, although we had recently been to only smaller sizes. The ratio of risk and reward is at these levels, however, very tempting.
XRP/USD
Ripple (XRP) is still above the year’s lows, but slowly of course this brand is waning. At the moment the price was at the Support line of the descending channel, this actually should hold.
A recovery would take at 0,33108 US Dollar at resistance, in addition to the 20-day EMA is a resistance. The bears should make it, however, under the Support, then the 0,24508 US will be tested-Dollar brand.
We see the XRP/USD Pair continues to be positive, in that it could with its previous Performance, several of the Top crypto-currencies. Therefore, we recommend to keep Long positions. As soon as the Couple creates a trend reversal, we buy more.
ETH/USD
Ethereum is on 6. November in the double digits slipped and could not recover so far. Currently, a recovery is attempted on the basis of the 83 US-Dollar brand. In this area, we expect to see buying interest.
Should be able to get the bears, however, their selling pressure, then the ETH/USD could crash Pair to the next Support at 66 US dollars. The selling pressure was so strong recently that the RSI could not lift out of the oversold area.
One of the first signs of a trend reversal, as soon as the price can remain 100 dollars. Until then, it is better to be seen. We go for the next few days of a strong recovery.
XLM/USD
After the 0,184 US-Dollar brand, could be successfully defended, have set the bears up for sale again, what has pushed Stellar to a new low for the year.
next, it is important to note at the bottom of $ 0.08. Although we believe that the cops on this Level to keep up with their purchasing power, however, however, it is difficult to the exact floor.
The XLM/USD Pair is any ground to suspect, as soon as it can hold above the downtrend line. We expect that it can recover in the next few days before a new one begins an upward trend. This should wait for the investors and only then the items are received.
BCH/USD
Bitcoin Cash continues its journey South. Within three days of the course of a day’s high of 4. December, at 157,58 dollars to a daily low of 104,99 dollars at 7. December like. The bears are trying to push the rate value is below the psychologically important US $ 100 mark, while the bulls are trying to keep the course in the three-digit range.
Should the bears manage to place the BCH/USD Pair below $ 100, then the next Support at 91,78 US Dollar. The RSI has fallen to a 15-level points, which means that the sale is over-saturated, a recovery could be pending at any time. However, investors should wait until the price fall will stop before they are re-active.
BSV/USD
While all of the other crypto-new currencies, points, could Bitcoin SV stabilize. Now, a slight increase in even.
The BSV/USD Pair is currently in a price range between 80,352 – 123,98 US Dollar, a breakout from this course would have the goal of 167,608 US dollars, with a smaller resistance at the 150,47 US-Dollar brand.
If the bears side, however, the upper Resistof 123,98 US Dollar, can defend, consolidate the Couple. Investors with a short time can buy horizon, as long as the price is above 80,352 US Dollar. Because the mood is negative, we recommend a position size by 40%.
EOS/USD
EOS is severely attacked by the bear. The crash was so bad that the Support of 2 US-dollars didn’t even last a day. On the bottom of the next Support is now at 1,5257 US Dollar, it has to be said in terms of the current selling pressure is almost impossible is when the downturn will end.
When a Cryptocurrency reaches every day new lows, then the investors do not want to join in as well. Quite to the contrary, investors who had bought at higher price-to-stands, try to get rid of their positions to avoid further losses. This vicious cycle usually leads to the total loss.
prior To the crash, a course for aggressive cops is interesting, which is close to the ground “fishing”. We wait to see if the purchase shows interest before we can recommend the EOS/USD Pair. Until then, we remain inactive.
LTC/USD
The bears were able to proceed with the US $ 28 brand is also another crucial Support. Litecoin could now slip even up to US $ 20, where, however, we expect buying interest.
The Trend is clearly in favor of the bears, as the bulls can’t hold the course.
The bulls will try to raise the price back in the range, while the bears the down trend on the Run want to keep. The cops should be successful, then the LTC/USD will consolidate for a Few days, before a new use upward trend. Investors should wait for new buying opportunities before they take new positions.
TRX/USD
TRON fell under the middle Support of 0,01339050. The next Support is at the daily low of 0,01089965, the before on 25. November has been reached. The Moving average (MAs) pointing downwards, while the RSI is in the negative area, indicating that sellers are in control.
like us, that the TRX/USD Pair dropped to new year lows. This shows that owners do not want to currently sell, while at the present deeply enough buying interest to not continue to fall.
If the bulls can defend the 0,01089965 brand, then the crypto-currency could be forming a saucer pattern, what would announce a possible change in trend. However, we wait to see whether it is actually so before we recommend the trade.
ADA/USD
The downward trend of Cardano continues, as the Pair has reached new year lows. On the bottom of the next Support lies at 0,025954 US Dollar.
The sloping Moving average and the RSI is in the oversold area will continue to exert pressure on the ADA/USD Pair. The first signs of a trend change would be a break of the 20-day EMA and the upper side of the price range at 0,45624 US Dollar. As long as this does not happen, it will be sold-off of each rise. We recommend that investors wait for a reversal of the trend before a Long position would be entered.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
