Today the stock market painted mainly in green color most of the coins increased by several percent over the last 24 hours. Of the top 10 cryptocurrencies by market capitalization not moved is that a Bitcoin Cash and Cardano. Also into account for obvious reasons were not included Tether. Let us consider the graphs of the five most popular trading pairs against the US dollar.
On may 23, during a rollout of Bitcoin stayed above $ 7413, today BTC is trading at $ 8085. The uptrend on the chart cryptocurrency is still in effect, moving averages are rising. In this case the RSI approached the overbought zone, so there is a risk of a new pullback.
The main landmark for traders — breakout-year high of 8496 dollars, which will lead to an increase of up to 10 thousand dollars. Also notice the 20 EMA within the 1-day schedule. A break below this line will give the bears the opportunity to occupy a dominant position in the market.
Aldon holds above $ 225 a few days in a row is a good sign. On the chart below you can also notice the formation of a bullish flag, paired with rising moving averages. The Ethereum is in uptrend, so when opening trading positions it is recommended to focus only on long.
While the cryptocurrency should be to the line 268 dollars, after successful testing, the asset should set a new annual high. If you are trading on small time frames — that is, within the day, it is recommended to refrain from opening positions. The Ethereum control bulls, but a good entry point into the market is not visible yet.
The price of Ripple has been reduced to 20 EMA on the 1 day chart, may soon be the rebound, in which cryptocurrency will jump higher than 0.45 per dollar. Risky but you can try to open long.
While moving averages are the 50 and 20 EMA line, indicating that the balance of power between bulls and bears. The sudden break of the 20 EMA will have to forget about trades and loss record.
Cash Bitcoin is on an up channel, just recently, the cryptocurrency bounced off the 20 EMA. Now BCH is sent to the upper boundary of the channel, where there can be a rollback.
The coin is in uptrend, so a pullback to short is not recommended. It is better to use it as an opportunity profitable long positions.
Chart EOS be above the moving average, now cryptocurrency uses them as dynamic support levels. The situation in the chart looks very good, but there is one “but” — on the RSI formed a bearish divergence.
With long can get trapped, so it is recommended not to trade here.
Repeat the main rule of the stock market — altcoins are very highly correlated with Bitcoin, therefore first of all focus on the main cryptocurrency.
While the most likely scenario — the growth of BTC to 10 thousand dollars, and then a new flat. Historically, what altcoins were most often growing at the moment, when trading pair Bitcoin/USD no sudden movements.
To be aware of what is happening in the market, subscribe to our cryptcat.
SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. WAITING BITCOIN FOR A MILLION.