In the words of Michael Marcus – “there are both strengths and weaknesses of every trader. More specifically, some traders are in the habit of winning every time, but these traders can also lose a bit longer. On the other hand, another type of traders can have the ability to cut the winners a bit shorter but are fast enough to bear possess as well. The most important thing is to follow the style you are comfortable in and believe in yourself.”
With the rejection of Bitcoin ETF, the market of Cryptocurrency has again reached top position, and with this, it has again moved into the Bear cycle. As this news was confirmed in the market, the pull-back momentum that has been achieved a few weeks back was washed-out. With this news, the cryptocurrency market has again got many traders. If you are also interested in trading, search for a good trading platform and register now for free.
Below is mention the analysis done for your favorite crypto coins for the upcoming days:
BTC has represented a downfall of approximately 4% in one day. Also, BTC from last 3-4 days is showing a downward trend as it got failed to even reach close to 61.8%.
As BTC continued with it’s lowering down pattern, and has shown a sudden downfall to its current level breaking the adjacent intraday stand of around 20 days EMA. Talking about the present condition of BTC, it finds a stand along the collective low which is $7,250 and from here $1,000 absolute drive was stuffed. Therefore, supporting the corresponding level will definitely be important for the Bulls.
ETH also represented a downfall of approximately 3.9 % in the last one day. This has been noted at the time of writing.
Weekly Ethereum Technical Price Analysis
ETH has shown a steadily it’s controlled under the support, where the midterm bullish objective completely got failed when it comes to keeping the trial to have an end move more than $500.
If talking about the present condition of ETH, it is bearish with numerous resistances above depicting a horizontal line which is showing an upward trend. It has also formed a blower high on a daily chart. But it is now believed that only a sturdy bullish engulfing candle which has a close above the previous day’s high can offer some support. Till then the outlook of ETH is bearish in nature.
BCH has represented a decrease of around 6.5% in the last one day. This trend has been seen at the time of writing.
Technical Price Analysis of weekly Bitcoins
Same bearish trend and indications have been formed by BCH when comparing it to Ethereum charts. BCH was seen forming lower High’s and lows after it breaks down the nearby support of 20day EMA. Therefore, it is a recommendation to the traders to better be on the side before any positive position is established as the current scenario in BCH is not healthy.
LTC represented a fall of approximately 2.5 % in the last 24 hours, stated at the time of writing.
Technical Price Analysis of weekly Litecoin.
LTC has put some efforts to show positive views a few weeks before, but again after the next cycle, LTC started revealing some noteworthy signals of weakness. Even in the 10th day also it has been forming the lower highs and is continuing a downfall.
The present state of LTC is that it has formed a bear trend but still managed to hold above the significant level of $72. Also, a break-down less than $72 will open the way to Bear avenues and will test $62 and $54 in the meantime.
In order to make improved trade decision, traders are recommended to make smart decisions and use their skills smartly. For this, they are advised to refer to the technical levels above. Have a happy trading day!