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The market data are taken from HitBTC exchange.
is to make Right predictions a difficult task. This is even more true when it comes to crypto-currencies. Many analysts were caught with their overly optimistic forecasts for 2018 on the wrong foot.
One of the most popular analysts, namely, the co-founder of the Fund, entered Global Advisors Tom Lee, declared in a notice to customers that he was going to stop, „to provide time frames for the realization of a reasonable value“.
another popular crypto-personality, Mike Novogratz of Galaxy Digital, however, believes that the current short rallies could later lead to a bigger one. The crypto-investment Bank uses the forthcoming introduction of crypto-custodian and Trading services to Fidelity, as well as the introduction of a trading platform for digital assets called Bakkt, the institutional investors are to attract.
on the Other hand, the US Bank JPMorgan Chase has said that the participation of institutional investors in the market have decreased.
After the massive bear market, one would expect that crypto-currencies in comparison with the Fiat-money in the Background. In a recent survey, the British Central Bank on Twitter for about 70 percent of the respondents preferred to receive gifts prefer to be in crypto-currencies, in cash, by Bank transfer or in the Form of gift vouchers.
Various crypto projects continue to be funded, which shows that investors are still interested in this area. But what traders should do following the recent upturn now? Let us find out.
BTC/USD
Even after the strong Pullback from the lows of the long-term Trend for Bitcoin is declining. The bears will try to stop the recovery at 4,255 US Dollar (3.742 Euro).
The 20-day EMA direction change, and the RSI has climbed into the positive range. This suggests that there are buyers. Nevertheless, a downward movement is the actual Test that confirms a bottom.
If the bulls can hold on to the 20-day EMA at 3.787,33 US $ (3.331,13 euros), it would show that the market participants are willing to buy at Dips. After a higher Low and a higher High will confirm that the downtrend is over and the Trend of the BTC/USD Pair has changed.
The important levels, you should continue to keep the above in mind, at about 4,500 US dollars (3.957 Euro), 4.700 dollars (4.133 Euro) and 4.914,11 US Dollar (4.322,18 Euro). Below, the downward trend will resume, if the crypto-currency, a total of 3,236,09 US Dollar (2.846,29 Euro).
investors may hold their positions. Traders can book part profits at about 4,500 US dollars (3.957 Euro) and the stops on the remaining positions.
XRP/USD
The Pullback in the case of Ripple for the last two days in the vicinity of the overhead resistance of $ 0.40 (0.35 Euro) under selling pressure. We expected a small correction or consolidation at this level and that is exactly what happened.
to find If the course bends from the current level down, he can be a support at the 20-day EMA. The moving averages flattened, which suggests in the short term on a probable consolidation.
When the cops break out, however, about US $ 0.40 (0,35 Euro), the XRP/USD Pair to the resistance line of the falling channel. Traders can book at this level for partial profits, as we expect a large hurdle in the Zone between $ 0.50 (€0.44) and 0.62 US $ (0.55 Euro).
ETH/USD
Ethereum is 122,66 US Dollar (107,88 EUR) a resistance to. Nevertheless, we expect that it rises up in the Zone between 130 US Dollar (EUR 114), and 136,12 US Dollar (119,72 Euro), where traders part profits can be booked.
The 20-day EMA is rising gradually, and the RSI has climbed above 50. Therefore, we are confident that the short-term Trend in favor of the bulls has changed. The long-term Trend, however, is still in decline because of the 50-day SMA tends to be more down.
After a long downward trend, we expect that the ETH/USD Pair a floor pattern before it starts a new upward trend. Below, each case will be purchased at 100 US dollars (87,95 euros) and below 83 US dollars (73 euros). Our optimistic forecast is void if the price is below the Depth of 7. December falls.
BCH/USD
Bitcoin, Cash has recorded in the past, sharp rallies. This was again confirmed, as he is today by more than 225 percent from the low of 73,50 US Dollar (64,65 Euro) of 15. December to an Intraday High of 239 US dollars (210 euros) recovered. Therefore, we had recommended traders in our preceding analysis to hold part positions open, in order to benefit from such a rise.
After the spectacular rally from the lows has started the 20-day EMA, to recover, and the RSI is close to overbought area. Notwithstanding this, we expect that a number of short-term traders book profits.
Therefore, traders still holding Long positions from lower levels, their positions with very tight stops run-on. Further down the BCH/USD will find Some of the 20-day EMA support.
XLM/USD
Stellar has shown in the current Pullback was a very weak performance. It is not even convincing from the 20-day EMA broke out.
The bears have defended the level of 0,13427050 US Dollar (0,1177 Euro) in the last two days. If the XLM/USD Pair from the current levels turns downward, it can lead to a re-Test of the lows of 0,09285498 US Dollar (0,0814 Euro).
If the Pair keeps on the other hand, 0,13427050 US Dollar (0,1177 Euro), it can come up to the next resistance at 0,184 US Dollar (0,161 EUR). However, we could not find any reliable purchase constellations at the current level, so that we have the Coin neutral stay.
EOS/USD
EOS over the last two days, a resistance near the 38.2% Fibonacci burglary level of 3,0510 US Dollar (2,6740 Euro).
A breakout above this level can lead to an increase in on 3,5147 US Dollar (3,0804 Euro), which corresponds to the 50 percent slump in the level of the recent decline. The 50-day SMA also lies close to this level, so we expect that he will act as a rigid resistance.
If the EOS/USD Pair from the current levels bends downward, it may find some support at the 20-day EMA and below 2,1733 US Dollar (1,9048 Euro). The flattening 20-day EMA and the RSI is in the neutral Zone, suggest a short-term consolidation.
LTC/USD
We had expected that Litecoin 36,428 US Dollar (31,927 Euro) is reached, but the bears will try to stop the Pullback in 33,946 US Dollar (29,752 Euro). The 20-day EMA is flattened after the recent recovery, but the 50-day SMA is trending down. The RSI has climbed in the neutral range. This suggests a consolidation, which will keep for a few days.
should be the resistance of the span when 36,428 US Dollar (31,927 Euro), will serve the 20-day SMA than below as support.
A case under 28 U.S. dollars (24,63 Euro) would increase the probability of a decline 23,10 US $ (20,32 Euro). If this level is broken down, the LTC/USD Pair to the Downside. Traders who bought at lower levels, should set the stop higher to protect your paper profits.
BSV/USD
Bitcoin SV has reached the upper end of the trading range and has reached our first target of 123,98 US Dollar (109,05 Euro). Although the momentum is strong, traders can book partial profits in the vicinity of this resistance and your stops on the remaining Position run.
If the BSV/USD Pair on 123,98 US Dollar (109,05 Euro) includes (UTC), is the pattern target in 167,608 US Dollar (146,899 Euro). This is very close to the 61.8% Fibonacci burglary level of the decline from 254,13 US Dollar (223,52 Euro) 38,528 US Dollar (33,768 Euro).
Our optimistic assessment is void if the price cannot hold above 123,98 US Dollar (109,05 Euro). In such a case, the digital currency for a few days can stay in a range.
TRX/USD
We had expected a strong resistance at 0,0183 US Dollar (0,0160 EUR), but TRON is easily broken out of it. If the bulls hold this level, it will climb on the course, and gradually 0,02815521 US Dollar (0,0247 Euro).
With the current Pullback is the RSI from the Depths of the oversold area in the overbought ascended. The 20-day EMA is rising gradually, and the 50-day SMA has flattened, which shows that the bulls have the upper hand.
find A decrease of the current level is at the moving averages and below 0,01339050 US Dollar (0,0117 Euro) support. Traders booked profits in their positions, waiting for the next case to new Long positions on the TRX/USD-open Pair.
ADA/USD
Cardano is facing resistance in the Zone between 0,045516 US Dollar (0,0399 euros) and the 50-day SMA. Therefore, traders who bought at lower levels should book, more than 50 percent of the profits in this Zone.
The 20-day EMA is rising gradually, while the 50-day SMA is still falling. The RSI is moving in the positive range. This suggests that the short-term Trend has changed. The next Leg down could support at the 20-day-find EMA and below 0,033065 US Dollar (0,0290€). A breakout above the 50-day SMA may extend to 0,060105 US Dollar (0,0527 Euro), which will represent a significant resistance.
After a long downward trend, we expect that the ADA/USD Pair forms a bottom formation before the trend begins a new and sustainable upward. Until then, traders should focus on quick wins, rather than waiting for a Home Run.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.