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Market data is provided by the HitBTC exchange.
German Finance Minister Olaf Scholz believes that cryptocurrencies are not yet ready to replace traditional fiat money, but he is not so sure about "20-30 years" in the future. This is a bullish signal, which confirms that the world is gradually making arrangements with the fact that cryptocurrencies are here to stay.
However, China continues to "remind" investors of the risks associated with Initial Coin Offerings (ICO) and encryption. A committee of legislators in the UK has urged regulators to take action by introducing measures for consumer protection
. United States, a New York Attorney General's office found that many exchanges of cryptocurrencies lack sufficient protection for customers and have "serious conflicts of interest". The report notes that only a few encryption platforms have market surveillance capabilities to deter trading manipulation.
A solid system is needed to attract big players, who are used to traditional exchanges that have many protective measures built against market manipulation and fraud. Price volatility, however, could remain for an even longer period with the market expiring.
In recent months, we have shown how traders can keep risks low when they negotiate cryptocurrencies. Let's see if we can identify any purchase configurations today.
BTC / USD
Bitcoin has held $ 6,200 in the last two days but is struggling to rise. Both moving averages are sloping and even the RSI is in negative territory. This shows that the sellers are in charge.
An & # 39; break of the $ 5.900- $ 6.075.04 support zone will complete two negative formations, a head and shoulders model and a downward triangle pattern.Although the head and shoulders are primarily a reverse model, it can also function as a continuation model, as is the case at the moment.
The lower levels that can offer some support are $ 5.450 and $ 5,000, however, after a break from such an important support, a number of stops will be hit, resulting in a rapid drop. traders avoid taking the knife that falls if $ 5,900 break.
If the bulls defend the support zone and push the price above the moving averages, the BTC / USD pair can rise to $ 6,900 and $ 7,400. an aggressive purchase on 50% of the size of the desired position on a close (UTC time frame) above $ 6,600.  The remaining positions can be added after the digital currency has closed over the descending trendline of the descending triangle.
ETH / USD
The trend in Ethereum is still on the downside, but we find some interest in buying around the $ 183 – $ 192 area. However, on the upside, the 20-day EMA is proving a great resistance, as the bulls have not managed to climb this level in the last four days.
If the bulls come out of the 20-day EMA, it is likely that it will move to the 50-day SMA, with less resistance to the downtrend line of the downtrend channel.We should become bullish if the price stays above the channel for three days in a row
If the ETH / USD pair falls from current levels, it can flow The pair is at a critical level and we should get a clearer picture within the next two days.
XRP / USD
L & # 39; wave rebounded sharply from $ 0.27 on September 18 and 20-day EMA broke out Currently, it is facing a 50-day SMA resistance
If the bulls come out of the SMA 50 days, the next resistance is $ 0.37390. The downtrend line is also above this level. If the XRP / USD pair remains above the downtrend line, we can expect the trend to change from upwards.
If the purchase runs out at higher levels, the virtual currency may take longer in the range of $ 0.27 to $ 0.37390. Even if the rebound from the lows is a positive development, we will have to wait for further tests before suggesting any trade on it.
BCH / USD
When the sentiment is negative, any uncertainty drives investors away and that is what seems to happen with Bitcoin Cash. With a looming division, buyers do not take any new position, which has kept the cryptocurrency close to the lows since the beginning of the year.
The trend is falling , as both the moving averages fall down and the RSI is in negative territory, the minimum of $ 408,0182 will resume the downtrend and the BCH / USD pair may fall to the next support zone of $ 280- $ 300.
The bulls must overcome the resistance of the 20-day EMA, the 50-day SMA and the downward trend of the downtrend channel to signal a change in trend
EOS / USD
EOS has held over $ 4,430 since August 17. If this support breaks down, the slide may extend to the next support at $ 3.7823 – they can keep their stops on the remaining long positions at $ 4.4
On the upside, the bulls had to face tough resistance at the 20-day EMA and $ 5.65. The EOS / USD pair will gain strength if it breaks out at $ 5.65.
Even if the 50-day SMA is in decline, the 20-day EMA is trying to flatten out. The RSI continues to be in the negative area. This shows that the virtual currency is in a range but with a negative bias.
XLM / USD
Stellar has formed an interval within a range. From September 11th, it was traded within the range of $ 0.184 to $ 0.21489857. If the bulls come out of this range, a high-level rally of $ 0.184- $ 0.24987525 is likely.
The critical level to watch downward is $ 0.184. If the XLM / USD pair breaks and stays below the interval it will complete a downward triangle pattern, which is a negative sign.
On the other hand, if the bulls come out of the interval and the downtrend line of the descending triangle will invalidate the bearish pattern, which is a bullish sign: virtual currency to show some strength before recommending any operation on it.
LTC / USD
The bulls defended critical support on 18 September, but the withdrawal is of resistance to the downtrend line and the 20-day EMA., Litecoin is consolidating into a broad range of $ 49,466- $ 69,279 – a process, started on August 8  The LTC / USD pair will resume its downtrend if it claims less than $ 47.246. The next bearish support is between $ 40 and $ 44.
On the upside, the virtual currency can rise to $ 69.279 if it exits the moving averages. We could suggest a long position on an interval out of the interval because it will indicate a probable double bottom.
ADA / USD
Cardan fell from the narrow range of $ 0.060105- $ 0.071355 but is finding it difficult to sustain higher levels. Currently, the price has returned to the interval
Both moving averages tend downwards and the RSI is in the negative zone. The trend remains downward. The ADA / USD pair will have to enter a background training before a change in the trend can be confirmed.  Until then, any pullback attempt will have to cope with resistance to moving averages. The downward trend will resume if bears force them to fall from the interval.
XMR / USD
The bulls are trying to defend medium in moving averages, but they are finding difficulty overcoming $ 120. Monero has become volatile and without trend in recent days, since both moving averages have flattened out and the RSI is close to the territory neutral.
A symmetrical triangle is developing near the bottom. A break of the trend line of the triangle will be a bearish development. The probability of a new test of $ 76,074 will increase, although the model's objectives are much lower. We suggest holding long positions with stops at $ 95.
On the upside, the XMR / USD pair will have to face resistance to the bearish trend line and $ 122.6. It will attract buyers only after crossing these two resistances.
IOTA / USD
IOTA has been included in the range between $ 0.5 and $ 0.6170 since September 6th. The 50-day SMA and the downtrend line are also close to the upper end of the segment. Thus, $ 0.6170 will act as a rigid resistance. The cryptocurrency will show strength if it can come out of this resistance.
The 50-day SMA it is in decline and even the 20 day EMA is starting to turn, after trying to flatten out in the last days, which shows that the path of least resistance is the downside.
A break from the $ 0 support , 5 can sink the IOTA / USD pair to $ 0.45 and over $ 0.4. Traders can keep the SL of $ 0.46 on long positions.
Market data is provided by the HitBTC exchange Analysis charts are provided by TradingView.