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Market data is provided by the HitBTC exchange.
Financial regulators are looking at companies involved in cryptocurrency with increasing attention [19659004] On September 11th, the US Securities and Exchange Commission (SEC) penalized a crypto hedge fund for the first time, while the Financial Industry Regulatory Authority (FINRA) has charged the broker Timothy Ayre with a fraud on a cryptocurrency agreement.
the actions of regulatory authorities will help to rebuild the confidence of institutional and retail investors in the crypto industry.
As markets descend deeper into bear territory, bitcoin is emerging as the strongest cryptocurrency. It has steadily increased its dominance to around 58% of the total market capitalization, partly because the plateaus continue to bleed.
In the course of 2018, the second and third largest cryptocurrencies by capitalization plunged 77% and 88% respectively, while Bitcoin decreased by around 55%, according to CoinMarketCap data.
The action on prices in the coming days will determine if Bitcoin will trigger the higher rises or the altcoins will drag Bitcoin further down.
BTC / USD [19659010] Over the past three days, Bitcoin has been trading in the intraday highs and lows formed on September 8th. The failure of the bulls to ensure a rebound from critical media is a negative signal. Moving averages are falling and the RSI is in the negative zone, which shows that the sellers have an advantage.
Bears could try to break the support zone $ 5,900- $ 6,075.04 within the next 3-4 days, if successful, will complete a head and shoulder model and a downward triangle pattern, which can trigger a stop loss number, with a rapid decline to $ 5,450 and less than $ 5,000. The model's objectives are, however, much lower.
If the bulls successfully defend the support zone and push the price above $ 6,500, a move to the line downward trend is likely, with less resistance to the 20-day EMA and 50-day SMA.
We could consider proposing an exchange if we find out that the BTC / USD pair is finding strong support to the purchase after exceeding $ 6,500. Until then, we suggest traders to stay on the sidelines, waiting the right time to go for a long time. Our bullish view will be invalidated if the price remains below $ 5.900.
ETH / USD
Ethereum has a firm grip while continuing to make new 52-week lows on a regular basis. The RSI has entered deep oversold territory and the price is close to the line from which the cryptocurrency has rebounded on four previous occasions. Thus, a retreat from close to current levels is possible.
Any recovery will have to face the resistance to the 20-day EMA and the downtrend line of the downtrend channel
On the downside, if the ETH / USD pair breaks below the support line, it can slide to $ 136.12, a last touched on July 16. We suggest traders to wait for the decline to end and for the digital currency to form a reversal pattern before attempting long positions.
XRP / USD
Ripple broke below $ 0.27 marks and aims to move to the next support zone of $ 0.24001- $ 0.24508. If even this support breaks down, the decline may extend to the next support, close to $ 0.20.
The downward trend remains intact. Both moving averages are decreasing and RSI is about to enter oversold territory.
Each withdrawal will face a stiff resistance of $ 0.27 and higher than that of moving averages. We will become positive on the XRP / USD pair only after it has been interrupted by the downtrend line. Until then, traders can remain on the sidelines.
BCH / USD
Bitcoin Cash has extended its journey south to its first target of $ 400. If this support breaks down, the next levels to keep under control are $ 300 and $ 282. [19659004] The BCH / USD pair will remain in a downward trend until it moves into the downward channel. All attempts to retreat will have to face a 20-day rigid resistance to the 20-day EMA and the 50-day SMA, which is close to the resistance line of the channel. [19659004] There are still no signs of an inversion on the graph, we will wait for the decline to finish and to complete a background formation before proposing a trade on it
EOS / USD
EOS failed to climb above $ 5.15 for the last four days Now bears probably ten they will break the support zone at $ 4.4930- $ 4.6
If successful, the EOS / USD pair can extend the fall to $ 4,1778 and below $ 3,88723. Traders can keep stops on remaining long positions at $ 4.4.
On the upside, the virtual currency will show signs of a reversal of tendency if the bulls sustain over the 50-day SMA for three days. The trend change will increase by over $ 6.8299.
XLM / USD
Stellar traded near the critical support of $ 0.184 in the last three days. The attempt to retire on September 11 met with the sale just over the 20-day EMA.
The downward-moving moving averages and the RSI in the negative territory indicate that the path of the minimum resistance is downward.A break of the $ 0.184 level will complete a descending triangle formation, accelerating the fall.
If the bears keep below $ 0.184, the levels to look downward are $ 0.11812475 and $ 0.082332. The XLM / USD pair will show signs of inversion of trend if the bulls come out of the threshold of $ 0.25 [19659009] LTC / USD
Litecoin is in a strong downturn, it has reached a new low since the beginning of the year, falling below the previous minimum established on August 14
The next level to watch downside is the support zone of $ 40- $ 44. If this support also breaks, the LTC / USD pair can collapse close to $ 30.
Any pullback will have to face the 20-day EMA resistance to the 50-day downtrend line and SMA. We will become positive on virtual currency if it will be a reliable inversion model.
ADA / USD
Cardano gained momentum on the downside as he ran towards his goal of $ 0.054541. Both moving averages are downhill and the RSI has penetrated deep into the oversold territory. Prices are in red for the sixth consecutive day.
Investors are liquidating their their positions while the ADA / USD continues to plummet without any background signs, it is better to wait for the sale to take its course and for the buyers to return before starting any positions.Each pullback will face resistance at $ 0.083192 and l & # 39; EMA at 20 days.
XMR / USD
Monero refused moving averages after failing the interruption from 9-11 September, downtrend line, under which he can scroll up to $ 87.
Moving averages they are gradually lowering and the RSI is immersed in negative territory, which shows that bears are in charge. Therefore, we suggested that we exceed the highest stops in the previous analysis.
The zone between $ 76,074 and $ 81 can provide strong support, but if this line breaks down, the XMR / USD pair may fall to $ 61.5 and then $ 46.
Any upward recovery will have to face a rigid resistance to moving averages and the trend line.
IOTA / USD
IOTA rejected the 20-day EMA and broke below the 9 September low, which increases the probability of falling to $ 0.4628.
Below $ 0.4628, the IOTA / USD pair may drop to a low of August 14 at $ 0.4037, so traders can protect long positions with a stop at $ 0.46, the trend is bearish as both moving averages are falling The RSI is in negative territory.
The virtual currency will show the signs of a stop joke if the bulls escape and sustain over $ 0.9150. Until then, each increase will invite to sell. [19659004] Market data is provided by the HitBTC exchange Analytical charts are provided by TradingView.
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