The views and opinions listed here are solely those of the authors and do not necessarily reflect the views of Cointelegraph. Each Investment and Trading involves risk and you should be good to do research before making a decision.
The market data are taken from HitBTC exchange.
Bakkt has recently the first assets from the Futures Commission trading firm Rosenthal Collins Group (RCG). According to Jeff Sprecher, CEO of Intercontinental Exchange (ICE), opened the much-anticipated digital asset platform is expected at the end of the year. Many people expect that institutional participation will increase with the launch of the platform Bakkt.
Michael Novogratz, the Ex-Hedge Fund Manager and CEO of Galaxy Digital, said in a Tweet that he was surprised that the big macro funds have not invested a percent of your money in Bitcoin. When the rates stabilize and regulators is clear, could there be a few large funds, the boarding currencies, in Crypto.
The research company Fund Global Advisors in New York came expected, that the crypto classes will have a rest until the end of the year. The company’s analysts expect that growing improvements, drive the courses.
While all the other plant are Mature classes, crypto-currencies are still in an early stage of development and offer in the future a huge potential. The CEO of Binance Changpeng Zhao believes that the Bitcoin Revolution begin. On Twitter, he said: „We are still in an early Phase, at the beginning of the Beginning.“
We want to analyze the Charts and try to predict which crypto-currencies the first signs of a bottoming out.
BTC/USD
Bitcoin (BTC) for the first Time since the 10. Of January broken out above the 20-day EMA. Currently, he is in the vicinity of the 50-day SMA. A jump back to the top from the current level of the since the 24 will bring him up to the downtrend line. November is a big hurdle. If the price can hold above the downtrend line, it can go up to 4.255 US Dollar (3.771 euros).
A breakout above 4.255 US Dollar (3.771 euros) completes a double-bottom pattern in which the target is at 5.273,91, US Dollar (4.673,79 euros). Therefore, we could propose to buy about 30 percent of the desired Position, if the BTC/USD Pair can hold for a couple of days above the downward trend line. The remaining Position can then be at a level of about 4.255 US Dollar (3.771 euros) purchased.
Our optimistic assessment is void if the digital currency from the current levels, or the downward trend line bends downwards and, under the Deep of a total of 3,236,09 US Dollar (2.867,85 Euro). Such a decline triggers Loss from a series of Stop-Limits, and continues the downward trend. The important levels that you should keep below in mind, at 3,000 US dollars (2.659 Euro) and at 2,600 US dollars (2.304 euros).
The flat moving averages, and the RSI is just above the middle, to a balance between buyers and sellers. We should get to see in the next couple of days, a decisive movement.
ETH/USD
Ethereum (ETH) triggered our buy recommendation of 8. February. Currently, he is facing a resistance at the 50-day SMA. If the bulls can keep the course on 116,30 US Dollar (103,07 EUR), we expect another attempt within the next few days out of the overhead resistance to break out.
A breakout above the 50-day SMA and above 134,50 US Dollar (Euro) increases the probability of a rally on 167,32 US Dollar (148,28 Euro). Therefore, we suggest that traders hold their Long positions and Stop-Loss at 100 US dollars (88,62 Euro).
Our assumption proves to be wrong, if the ETH/USD Pair of 116,30 US Dollar (103,07 EUR) bends downwards. If the exchange rate remains under 116,30 US Dollar (103,07 EUR), he can fall to 103,20 US $ (91,46 Euro). Including a fall to 83 US dollars (73,56 Euro) is likely to be.
XRP/USD
Ripple (XRP) has difficulties to find buyers at higher levels. The strong jump back to the top of the 8. February was not strong enough to be on the downward trend line break out.
The cops trying to hold the 20-day EMA, if the XRP/USD will fall-Some back to the critical support of 0,27795 US Dollar (0,2465 Euro). Re-test of support levels from the repeated weaknesses of this, so we expect that it will be broken, if the course falls within the next few days on 0,27795 US Dollar (0,2465 Euro). The next support lies below at a year-low of 0,24508 US Dollar (0,2173 Euro).
If it’s the cops, however, succeed in the downward trend line break out is an increase on 0,33108 US Dollar (0,2936 Euro). A breakout above this resistance increases the chances of a rally to US $ 0.40 (0.35 Euro).
LTC/USD
Litecoin (LTC) reached on 10. February 47,246 US Dollar (41,894 Euro) our first goal. This level is a significant resistance; Therefore, we expect a slight correction or consolidation at this level for a few days. Traders who hold Long positions, can Loss and your stop limit at US $ 33 (29,34 Euro) increase.
We expect strong support in the vicinity of 40,784 US $ (36,164 Euro). If the LTC/USD Pair to the support jumps back to the top, try the cops again, 47,246, US Dollar (41,894 Euro) break out. If that succeeds, the next target in 56,910 dollars (50,463 Euro).
The 20-day EMA is trending up and the 50-day SMA is rising gradually. The RSI reached for the first time since December of 2017, back to an overbought level. This indicates a probable trend reversal.
Our optimistic view is rendered invalid if the digital currency slips below the moving averages. In such a case, he can fall to 27,701 US Dollar (24,563 Euro), and including to the year’s low of 23,090 US $ (20,474 Euro).
EOS/USD
EOS lock on 8. February strong and our purchase triggered a recommendation. He can climb to 3.05 US $ (2,70 Euro) and up to 3,2081 US Dollar (2,8447 Euro). Traders couldn the Stop-Loss to 2.30 US dollars (€2.04) increase and in a couple of days later.
The 20-day EMA is trending gradually upwards and the RSI is in the positive area, indicating that buyers have the upper hand. A breakout above 3,2081 US Dollar (2,8447 Euro) can bring the digital currency to 3,8723 US Dollar (3,4337 Euro).
The bears are currently trying to stop the Pullback. If the EOS/USD Pair from the current levels bends down and under the moving averages is falling, it loses momentum. The next level below, one should keep in mind is 2,1733 US Dollar (1,9271 Euro). A case of this level can allow the Couple to 1,7746 US Dollar (1,5736 Euro) to 1.55 US Dollar (EUR 1.37).
BCH/USD
Bitcoin Cash (BCH) is on 8. February on the 20-day EMA broke out, but the bulls couldn’t build on it. The price has corrected in the last two days back to the breakout level. We expect a strong support at the current level.
If the BCH/USD-falls to Few in the margin, can it to 105 US dollars (93,05 Euro) slides. If the cops will jump from the current levels back to the top, will try the Pair again, to climb up to the next overhead resistance at 141 US dollars (125 Euro). The flat moving average and the RSI is close to 50, indicate that in the near future on a trade within a. We could suggest Long positions, if the Couple is about 141 US dollars (125 Euro). Until then, we remain here neutral.
TRX/USD
Tron (TRX) has difficulty using the overhead resistance at 0,02815521 US Dollar (0,0250 Euro) break out. A repeated Failure on this level break out, is a negative sign. The 20-day EMA is flattened, and the RSI has fallen into the negative range. This suggests a short term increase in sales.
If the TRX/USD Pair below the symmetrical triangle and the 50-day-includes SMA (UTC), it may fall on 0,02113440 US Dollar (0,0187€) and including 0,0183 US Dollar (0,1623 Euro). Therefore, traders can protect their Long positions with a Stop at 0,023 US Dollar (0,0204 Euro).
The Trend is on the up again, if the bulls get support at the 50-day SMA and above the overhead resistance at 0,02815521 US Dollar (0,0250 Euro) break out. In the case of such increase, the pattern target is 0,038 US Dollar (0,0337 Euro). We should see this week is a crucial movement.
XLM/USD
The Pullback in Stellar (XLM) was only of short duration. He could not climb over the 20-day EMA, suggesting a lack of demand at these levels.
Since both the moving averages are trending lower and the RSI is in negative territory, the Trend is clearly in favor of the bears. If the XLM/USD Pair below the lows of 6. February falls of 0,07256747 US Dollar (0,0643 Euro), may extend the decline to 0,05795397 US Dollar (0,0514 Euro).
will try If the cops bring about a recovery, and the 20-day EMA, the Pair to climb to the downward trend line. A breakout above 50-day SMA is a first indication that the downtrend is coming to an end.
BNB/USD
Binance Coin (BNB) has continued its upward movement over the weekend. It is located in the vicinity of the overhead resistance zone of between US $ 10 (€8.86) and $ 12 (10,63 Euro). We expect a strong offering in this area, so that a consolidation or a slight Pullback is likely.
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. The RSI is, for the first time climbed since the beginning of January 2018, again in the overbought area, which is a positive sign.
Strong supports below the EMA and the 50-day SMA, the 20-day. Therefore, a decline to the 20-day, you can use EMA as a buying opportunity. Our bull view is void if the BNB/USD Pair falls to under 6 US dollars (5,32 Euro).
BSV/USD
Bitcoin SV could not break out in the last three days over the 20-day EMA, which is a negative sign. Both moving averages are falling and the RSI is in the negative range. This shows that the bears have the upper hand. Of course, from the current level bends down and slips under 57 US dollars (50,51 EUR), a decline to the Low at 38,528 US Dollar (34,164 Euro).
If the BSV/USD Pair bounces, however, of 65,031 US $ (57,664 Euro) or 58,072 US $ (51,494 Euro) back to the top, it will try again over the 20-day EMA break. If that succeeds, a rally to the 50-day SMA, probably. Depending on how strong the jump fails back up from the current level, we could Long positions above the 50-day propose-SMA. But in the meantime we recommend still to be seen.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.