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The market was on the move again yesterday, when Bitcoin managed to regain some composure and travel the rocky road to the $ 6800 highs. This break was not as violent as a pair of days ago; it seemed more natural, implying that there was a real buying pressure behind the move. At the same time, many people remain skeptical and believe that the race is about to end, at least for now.
this is the place where the dead come to die, now in the wasteland now at home pic.twitter .com / oQ8Yszl8GH
– CryptoGainz (@ CryptoGainz1) 25 August 2018
How always, let's take a look at what some other traders had to say about Bitcoin and other major cryptocurrencies on the market: [19659005] Bitcoin (BTC)
CryptoWolfSignal also felt as if Bitcoin were going to exhaust the juice and have some clear objectives for the near future:
"When the levels of 6800, 6900 and 6990 are achieved, it is advisable to become short and wait for a decline, the sale can be divided into three uniform parts at these levels, we use the stop over the 7260 resistance, and the target areas for declining trade will be areas near the 5500, 5300, 5120 and 4900 levels. "
There were a couple of remarkable ideas shared on Twitter also. @EthereumAddict noted a pattern of Adam and Eve:
Bitcoin adam and eve double bottom potential – #BTCUSD graph https://t.co/yAmKufUYAi
– Salt Addict (@EthereumAddict ) 24 August 2018
@CryptoCred has also published this analysis on Twitter:
"Daily closed for the first time at the top.If the breakout is real, the box blue should hold up as support and lead to higher prices.If it is another trap and the price can not stand above the interval, I will try to minimize the liquidity (red). "
Finally, @HsakaTrades shared a similar vision:
$ BTC Intraday
• Upward breakout range
• High (green) retested interval should contain if this is not a deviation.
• If it does not hold up, looking at the question area that was formed before the interval.
• Resistance 1: Weekly level ~ 6870
• Resistance 2: Supply zone ~ 7100 pic.twitter.com/iIl2KAcflF– Hsaka (@HsakaTrades) 25 August 2018 [19659004] Ethereum (ETH)
MarcPMarkets from TradingView thinks that Ethereum is still relatively weak. He opened his analysis in a positive way emphasizing that the price has challenged one of its downward trend lines. It is still a variant of the currency as it performs poorly compared to other alts that have recovered relatively well during this BTC range. He then concludes the following:
"We put coins as ETH pending until they proved themselves in terms of price structure.This is a defensive measure that helps us to keep the Our goal is to distribute capital to the prospects that offer the best chance of a favorable outcome.We would rather give up better prices in exchange for a better chance. "
According to this account, there are better trading options out there of ETH and traders should (at least for now) avoid protecting their portfolios. Here you can read more analysis
Ripple (XRP)
Shursst from TradingView was very short and rather bullish in its analysis:
"After Reversal of Head and Shoulders, XRP has formed a second fall wedge, bullish sign. "
Bitcoin Cash (BCH)
FxWirePro offered the following thoughts on BCH :
"Bias on the daily chart is neutral, but we see some room for improvement in the hourly charts In the 1H rankings, the studies on the moment have become bullish and the RSI has exceeded quota 50 with room for maneuver to go further The break above 1H 100-SMA will see the next major obstacle to 1H 200-SMA at 542. The breakout at 1H 200-SMA will see a 38.2% Fib test at 547 in front of the resistance of the main trend line at 556. "
EOS (EOS)
Trader rludvik thinks that EOS is due to some bullish action:
"EOS fell from the downtrend channel and is now moving just over long-term support. I'll take this as the beginning of a new chapter and make an attempt with trade like:
- entry 72k5
- stop loss on that green area, initially at 66k9
- target 1 at 84k (around the previous high)
- target 2 to 99k (just below the psychological resistance of 100k)
- final target around 38.2% Fib level, will be defined later "
Stellar Lumens (XLM) [19659009] Trader senolito thinks that XLM is on the edge of a move:
"Always an interesting development within a chart. Knowing that something is going to happen soon is a little exciting to follow. It seems to me that soon we will have some epidemic. Markets seem to be indifferent to the recent denial by the SEC of further ETF proposals. This only shows that the markets are following their own rules and the operators are building a kind of immunity towards a certain kind of chatter in the real world. We are listening to the silence before the storm. "
Litecoin (LTC)
Yo_adriiiiaan from TradingView notes an upcoming opportunity with Litecoin:
" Litecoin has recently reached the minimum at just under $ 50 and now hovers around $ 56. With this current sideways movement we are forming another bear flag. As you can see we have formed a series of bear flags. Based on a 'Fibonacci extension', this bear flag would send the price to $ 50 and $ 36.99. However, not all bear flags produce a continuation of the trend.
Take a look at the complete analysis here to see what your purchase / sale goals are.
Other Thoughts
The rest of the market took the Bitcoin movement of yesterday as a sign of strength and we saw some decent gains across the board. We had 8 currencies that violated the 10% daily earning range; Substrate with 19% was the highest gainer, while Wanchain, Aion, Bytom, Ark, QASH, Lisk and Nano completed the club. In the meantime there were not many currencies in red, as Bitcoin Diamond surpassed this side of the beard with a 7% decline in the daily. From now on, we look forward to seeing what Bitcoin can do at this level and can turn the $ 6800 into a medium.
Writers and authors of CaptainAltcoin's posts may or may not have acquired an interest in any of the mentioned projects and businesses. None of the contents on CaptainAltcoin is an investment advice nor a substitute for advice from a certified financial planner.
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