A devastated market brings the situation to explosive extremes

• Bitcoin marks new lows and is even more extreme in its technical position.
• ETH / USD sweeps support at $ 100 and sets the annual minimum a $ 82.
• Indicators at extreme levels and significant divergences are an explosive combination.

We arrive at the end of the week and we have the main players of Crypto board at the next level of support.

The arrival of these new lines of support has triggered purchases that are rebounding prices at the time of writing this article.

The most requested answer is if the falls will stop at this level or if we continue to be immersed in this downward spiral.

Well, the answer from the technical analysis is that it is not very likely that a significant change in the trend will occur in the next few hours. And the next days? If we project the models into development in the future, the odds are supporting a scenario in which the downward trend will continue between four and seven days.

The daily chart shows clear divergences between prices and indicators. It is surprising to me that, despite the sharp decline, the MACD in this time interval has not gone down.

The chart in the weekly BTC / USD shows how the price is just above SMA200, a reliable support that should be drilled in any case. If Bitcoin breaks this simple media, we can pack our Cryptos into a secure wallet and forget them until 2020.

Do you want to know more about my technical configuration?

BTC / USD daily range

BTC / USD exchanges at the price level of $ 3,356, setting a new low during the Asian session a $ 3,299.73, the new reference level to be monitored.

The price differs a lot from moving averages. The oversold level is enormous and the desire to rise, possibly even higher. There is a good mix of strong indicators for a big rebound. The question is when it will not happen.

Below the current price, the first level of support is al $ 3,299 price level (low annual support and price congestion). Under this level of support, the BTC / USD would already be able to reach the psychological level of $ 3,000 and then head to the second level of support a $ 2,880 (support for price congestion). The third level of support is a $ 2,500 (support for price congestion).

Above the current price, the first resistance level for the BTC / USD is a $ 3.930 (resistance to price congestion). The second level of resistance is a $ 4,400 (resistance to price congestion). The third level of resistance is a $ 4.900 (resistance to price congestion and EMA50).

The MACD in the daily interval is at the same levels that indicated the end of last April's declines. It is still far from the harmful levels reached during the huge drop in the historical highs ended last February. The indicator is even downgraded in the daily range, even if the price drops: many signs of a possible bullish rebound.

The DMI in the daily range shows us how bears have reached extreme values ​​in the last days, not even seen by the bulls during the hype of December 2017. The bulls have increased their activity level in the previous days and without loosening with the latest falls. The bears recover confidence this week and considerably improve their trend strength.

Daily range XRP / USD

XRP / USD exchanges at the price level $ 0.30 after having touched the minimum of the day of $ 0.292 (support for price congestion). In recent weeks, XRP has had relatively worse results than the BTC or ETH. Today there seems to be signs of improvement, especially against Ethereum.

Below the current price, the first level of support for the XRP / USD is at the relative minimum of $ 0.292 (support for price congestion). The second level of support is $ 0.271 (support for price congestion). The third level of support is $ 0.258 (support for price congestion).

Above the current price, the first level of resistance is $ 0.322 (resistance to price congestion). The second level of resistance is a $ 0.344 (resistance to price congestion) and the third a $ 0.369 (resistance to price congestion).

The MACD in the daily range shows a slightly bearish profile but with slightly separate lines due to recent declines. There is no significant impact despite the amount of the selloff.

The DMI in the daily range shows us how the Bulls have just retired despite recent falls. The Bears have increased their activity and set new maximum levels, even above the levels reached in September.

Daily ETH / USD range

ETH / USD is currently trading at $ 85.10 Price level. During the early hours of the day, ETH / USD reached a new annual minimum at $ 82.15 level of support (support for price congestion).

The structure is similar to the one we analyzed in the BTC / USD although with the significant difference that Ethereum undermines in its crossover with Bitcoin, so it may exacerbate the price that falls a little more.

Below the current price, the first level of support for new annual lows is $ 82.15 (support for price congestion). The second level of support is a $ 69 (support for price congestion). The third level of support is at the price level of $ 53.8 (support for price congestion and long-term bear channel base).

Above the current price, the first resistance level is a $ 95.34 (resistance to price congestion). The second level of resistance is a $ 125 (resistance to price congestion). At the third level of resistance located at $ 154 price level, the resistance to price congestion coincides with the EMA50.

The MACD in the daily range shows a divergent profile, especially when the ETH / USD has almost no space under it to cancel the upside pattern formation. The lines cross slightly downwards with falling prices.

The DMI in the daily range shows us that the Bears are again increasing their activity level in the last days. On the other hand, the bulls do not react and remain at the minimum levels, even if they are higher than they had at the end of November.

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