to The disproportionately strong rate of explosion in Bitcoin in the last week, leaving behind their traces. The currency Bitcoin is trending this week on a slightly weaker and slightly takes a breath before a new attack on the 10,500-US-Dollar-brand. The majority of Altcoins can benefit from it, and a decent gain on the week view to show.
From Stefan Lübeck
4. November 2019BTC $ 8,783.68 -0.46% part Facebook Twitter LinkedIn xing mail
The Altcoin market as a whole can’t make it, despite the strong performance last weekend, the previous week’s high at 267 billion U.S. dollars, again to be approached. Rather, the total market capitalization due to the consolidation tends to Bitcoins this week tend to be sideways. On a positive note is that the support area around 230 billion U.S. dollars in week view again below. The sideways current capitalization of the total market is shown also in the course of the Top 10 Altcoins.
Four of the Top 10 currencies manage to generate a course plus six on the other hand, have a rate discount. In particular, the Outperformer of the last few weeks, Bitcoin SV, it came this week to profit-taking, which is why Bitcoin SV represents a loss of almost eight percent in the rear. Also Litecoin is trending this week, weak, and has a Minus of 3.8 per cent. However, Bitcoin Cash it creates, as in the previous week to generate a substantial increase in the price of just over ten percentage points. The reason for this strong Performance is looking for in a timely manner to be held Halving in the case of BCH to. As is the case with Litecoin, however, remains to be feared that this increase is of temporary nature.
views of the market capitalization
total market capitalization on the Basis of values of Cryptocap shown
The market capitalization of all the Altcoins tends to be due to the weakness of Bitcoins is currently sideways. At the start of the week, the total market tried again the 260 billion US to overcome the Dollar, failed, however, and moved the Rest of the week slightly falling. Stop giving the exponential moving seemed to be the average of the last 200 days at 232 billion US dollars. In this area, the capitalization of the entire crypto-market also records a few hours before the close of the week.
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to assess That the total market capitalization above the important $ 230 billion records and no lower lows has driven, is quite as positive. As long as the market is ranked above this support zone, the movement in this week as a air to get to. It is only healthy if the volume of the total market digested the exceptionally strong rise in the previous week is reasonable over the time axis, and the outbreak of the consistency checks.
Around nine hours prior to the close of the week the market is trading at 236 billion dollars, and thus in the vicinity of the closing price of the previous week. The cops go, it is sensible, should increase the total market capitalization gradually again in the direction of the 269 billion dollars. Of this brand on the basis of good chances to take the resistor brands for US $ 302 billion and 330 billion dollars in the medium-term target persist.
Best performance among the Altcoins: Bitcoin to Cash (BCH)
rate analysis on the Basis of the value pair BCH/USDT on Bittrex
The Bitcoin Cash course is a continuation of the strong previous week and 10.8 percent. A main reason for the increase is the imminent Halving to see. The investor reward is currently in a good four months to be held halving of the Coins. So Bitcoin is Cash, the 23-Fibonacci-Retracement at 274 US managed to overcome the Dollar and is currently trading at 288 US dollars. In the top Bitcoin Cash increased this week up to 305 US dollars and tested so that the lower edge of the broken bear flag. So far, the course is not managed, however, to jump back to the flag, and remained below the exponential moving average of the last 200 days.
it Creates a Bitcoin to Cash, these Resistances to be overcome, would be the 321 dollars, the 38 Fibonacci Retracement level as well as at 362 US dollars possible targets. The price rises, however, not back to the bear flag and falls back, the supports at 274 US dollars, as well as 251 of the US Dollar as the goals. As long as the price remains above this course brands, there is a good chance to profit from rising prices in the coming week. A possible Long-scenario would be a purchase in case of breakage of the 321 U.S. Dollar, which would be just under hedge, below the US $ 300.
RSI bullish, MACD could be a sell signal generate
The indicators support this bullish variant The RSI is currently at 62, and shows the current price strength of BCH. The MACD indicator is not indicated in the daily chart a buy signal, however, threatens to generate a first sell-signal, should not be able to form the price in a timely manner to new highs. On a weekly perspective, a slightly different picture, however. The RSI with a value of 49 is still in the neutral Zone, but shows an increasing trend downward. As long as the RSI in the weekly does not rise chart by the threshold value of 55, will be a new buy-signal is generated. The MACD on a weekly basis, however, could form a fresh buy signal, which could exert a positive effect on the course of history.
the Worst development of the Altcoins: Bitcoin, SV (BSV)
rate analysis on the Basis of the value pair BSV/USDT to taking on Bittrex
After the Bitcoin-SV-had rates recorded in the last few weeks in rally mode, with strong gains in this week’s profit. The price of Bitcoin, SV didn’t make it to new week highs to form and fell back to 7.8 percent. Thus, the rate rally of the past weeks is stopped for the time being. Currently, Bitcoin is consolidating SV and had to cope with since the High at 153 US dollars, a decline of 18 percent to 127 dollars. A Retest of the support area at 119 US dollars, consisting of a horizontal Support, and exponentially moving average of the last 200 days, seems likely. Von this area from a new rise in there are opportunities in the direction of the red downtrend line. In case of breakage, this is a re-start of the 50s-Fibonacci-Retracements at 154 US dollars is likely to be.
as Long as Bitcoin SV falls back, not back to the blue downtrend channel, the bulls still have the upper hand. An interesting Trade on the Long side would be the purchase in the range of US $ 119, with Stop-Loss just below the level of 110 US Dollar and profit-taking in the area of US $ 138 and 154 US dollars. Above this marks an increase in the direction of the 61s-Fibonacci-Retracements at 178 US dollars would be even conceivable. A false breakout from the blue trend channel would only be able to do with a price decline observed under the 100 dollars, what would enable a course to slip in direction of $ 80.
indicators RSI and MACD is ambiguous
The indicators are currently a mixed picture. RSI and MACD in the daily chart are falling at the moment, and build their overbought situation. The RSI is listed with a value of 52 in the neutral Zone. As long as it is listed above the 45, is due to this movement, only the consolidation of the course. Also the somewhat slower MACD is currently showing a slightly lot of bids due soon image, recorded but still in the positive range. On a not very clear picture shows also. The RSI did not make it, the 55 lasting up to break records with a value of 52 in the neutral Zone. The MACD indicator provides, however, continues to be a buy signal, which he had generated in the previous week. Thus, it remains to be seen whether the bulls can manage to move the price for BSV again in the direction of the above-mentioned Resistors.
stability of the Top 10
The image at the Top 10 crypto-currencies is to be considered this week, something differentiated. Four of the Top 10 crypto-currencies have a price increase week-over-week. The majority of the Top 10 Altcoins must be similar to how Bitcoin is also able to withstand a rate discount. In addition, it can boast with Bitcoin Cash only a Top crypto currency, a rate increase of more than 10 percent. Thus, the hoped-for stabilisation is not to be regarded on the broader Front, currently as sustainable. In the ranking of the Top 10 crypto-currencies, there is this week to announce a change. The crypto-currency Stellar manages with a rate increase of almost five per cent, to surpass the nine tplatzierten Cardano and a place to exchange.
winners and losers of the week
In contrast to Bitcoin, it creates the majority of the Altcoins, on a rate plus to show for it. More than 60 percent of the Top 100 crypto-currencies traded this week, higher than the previous week. The winner of the week with a 78 percent growth in the Price of the Lambda Coin is. This had fallen in the preceding weeks, however strong, which is why it is only a recovery of the exchange rate. Also Bytom with a price increase of 70 percent a strong week course. Again, many Chinese crypto profit this week, currencies from the positive Outlook of the Chinese government. On place three in the list of the Top 100 crypto-currencies, a largely unknown Coin, the ranked with a week plus of 62 percent for the first time among the Top 100 Altcoins traded with the Yuan Chain Coin.
Among the few losers this week in light of the Altcoin Swipe is closing with a loss of over 32 percent. The veteran Digibyte with a discount of about 20 percent feathers. Overall, one can say, however, that the Altcoins can look back on a positive week. How is stopping this trend in the coming period, must continue to be closely monitored, and also determine the future development of Bitcoins.
total market capitalization exclusive Bitcoin on the Basis of values of Cryptocap, as well as on the Basis of the value pair is BTC/USD on Coinbase
shows The strong week of Altcoins is shown in the chart over the course of the Altcoin/Bitcoin-value pairs. The Chart has a positive week for the development, however, and so far to climb back above the green resistance area and the last week, broken the green upward trend line to be approached in the Chart below. Only a Test of the exponential moving average of the last 20 weeks of office break of this resistance would brighten up the chart image. It was, however, not a new-week low. Similarly, the majority of Altcoins has been able to show this week, a respectable Performance.
A look at the Bitcoin-dominance
The reserve currency did not make it this week, their dominance continue to expand. From the High at 70,88 percent at the beginning of the week, the Bitcoin domination, in consequence, fell by a good one percentage point to the current 69,75 per cent. Thus, the dominance is, however, still above the important mark of 69,53 per cent. The strong increase from the previous week, was consolidated this week so something. As long as the dominance of the reserve currency is listed above the 69 per cent, and in a timely manner the week’s high at 70,88 percent, Robert, continues to be a rise in opportunities in the direction of the resistance area at 72 percent. However, it must be said, that a jump back in the upward channel until a sustainable break of the 72,66 per cent. Positive for the dominance of Bitcoins is that as long as the 68,30 percent is not broken down, this is down to classify the potential in the direction of an improvement of 67.2 and 66.7 percent as a low.
Bitcoin-dominance on the Basis of values of Cryptocap
week Outlook: Slight correction shown would Altcoin courses help
Managed to initiate the overall market in the preceding week a act of liberation, must be processed, the price gains in this week only once. This is to be regarded as positive, since an overheated market bears more of the risk of a false rise. The total market capitalisation, however, could climb to a new High and the resistance at 269 billion US dollars so far, not re-start. This development is in line with the weekly performance of the Bitcoins that fluctuates current to the very relevant 9.100-US-Dollar-brand. It remains to be seen whether it is the reserve currency in the coming weeks, manages to overcome the gradient is high at 10.570 US-Dollar. An increase of the Bitcoins on the 11,000-US dollars-brand should also help the Altcoins to new rate increases.
Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.
The chart images have been using trading view created.
USD/EUR exchange rate at the time of writing: 0,89 Euro.
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