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Market data is provided by the HitBTC exchange.
Mark Dow, a former economist of the International Monetary Fund (IMF) who had bet on Bitcoin in December last year, tweeted which has covered its positions. However, Dow also said that he has not opened a long position and has no interest in doing so.
Another prominent merchant, Mike Novogratz, a former Goldman Sachs associate and founder of the Galaxy Digital encryption bank, expects the leading digital currency to hold $ 3,000. It provides for a consolidation between $ 3,000 and $ 6,000 in the near future.
Some crypto hedge funds that had climbed on the chariot without adequate risk management measures are closing. However, others – like Morgan Creek Digital – are becoming more aggressive in implementing their capital at these low prices.
Another corporate cryptocurrency firm, Genesis Global, continues to expand, expecting to increase the number of employees in 2019. Similarly, the main exchange of cryptography in the United States Coinbase has doubled the number of employees since June.
This shows that players who have invested smartly are benefiting from the fall and expect a bright future in the future.
BTC / USD
Bitcoin is currently in a pullback. The 20-day EMA broke out for the first time since November 14th. This shows the purchase by aggressive bulls and short coverage. Wednesday is the third day of the pullback. Usually, during a strong downward trend, the return rally dissolves within three days.
If the bulls continue to support the BTC / USD pair, they could reach the first environmental resistance of $ 4,500. We anticipate some resistance at these levels, since short-term traders will try to record profits and aggressive bears will again establish short positions.
The main trend is still low. However, the flattening of the 20-day EMA and the RSI in neutral territory show that the short-term trend is changing. The next stage will give us a better idea of whether a fund is in place, or if this is just a rescue rally.
The important levels to keep under control are $ 4,500 and $ 5,000. On the downside, a break of $ 3236.09 will resume the downward trend. Investors can maintain their positions. We will wait for a new upward trend before adding positions.
XRP / USD
The recovery in Ripple has eliminated the 20-day EMA and is facing resistance to subsequent environmental resistance by $ 0.4. The 50-day SMA is also nearby, so we expect a smaller pullback or consolidation at this level.
If the bulls climb the 50-day SMA, the rally can extend to the resistance line of the downtrend channel at $ 0.5. The $ 0.5- $ 0.62 zone will act as the main block. Short-term traders can book partial profits at these levels and track stops on the remaining high positions.
Conversely, if the XRP / USD pair falls from $ 0.4, it may correct to $ 0.33108. Both moving averages are flattening and the RSI has jumped into positive territory, which indicates a change in trend. We will have a better idea in the next 3-4 days.
ETH / USD
Ethereum rose above the head endurance of $ 102.5 and the 20-day EMA. In this way, he returned to the previous consolidation.
The ETH / USD pair can now rise to the top of the range at $ 130. The $ 130- $ 136.12 zone will probably act as a stiff resistance. Short-term traders can book partial profits at these levels and track stops at the highest remaining position.
If the bulls fail to sustain momentum and the digital currency corrects without achieving our desired goal, we expect strong support for $ 102.2. If this level breaks down, a new minimum test is likely.
EOS / USD
EOS has easily downsized the 20-day EMA and reaches the goal of achieving the Fibonacci retracement of 38.2 percent of $ 3.0510. This could act as a small resistance.
However, the 20-day EMA has flattened out and the RSI has risen near the positive territory. This shows that the short-term trend is changing. Above $ 3.0510, the pullback can extend to $ 3.5147.
If the EOS / USD pair falls from one of the levels above, it is likely that you will find support near $ 2.1733. The downward trend will resume below $ 1.55.
XLM / USD
Stellar reached the critical overload resistance of $ 0.13427050 from where it had declined on December 8th. If the bears defend the level again, we may see a slight correction or consolidation.
If the bulls climb $ 0.13427050, a rally at $ 0.184 is likely. The 20-day EMA is flattening, which shows that the short-term trend is changing.
However, the XLM / USD pair is an underperformer, as it has not even passed the 20-day EMA and its RSI is still in negative territory. So, we are not proposing a trade in it. We will review our perspective if we find a reliable purchasing system.
BCH / USD
As expected, Bitcoin Cash has risen sharply from its low of $ 72.39. This corrected the oversold levels on the RSI.
The price reached the 20-day EMA which could represent a tough resistance. We anticipate a small retreat from this level. On the downside, $ 100 can act as first support.
However, if the bulls continue to buy and scale above the 20-day EMA, the recovery can go up to $ 205. The BCH / USD pair has a history of vertical rallies, so traders who have gone long at low prices they should hold open partial positions with a final stop loss, to overcome any peak. Our bullish view will be invalidated if the price falls below $ 72.39.
LTC / USD
Litecoin has risen above the head endurance of $ 29.349 and the 20-day EMA. The withdrawal can now extend to $ 36.428. The 50-day SMA downsloping is just above this level. Therefore, we expect this to be an important obstacle for bulls.
The 20-day EMA has become flat and the RSI has grown into positive territory. This suggests that the short-term trend is changing. After such a long phase, we advance the LTC / USD pair to complete a background training before starting a new uptrend.
Some days of action related to the interval are likely to have elapsed. Therefore, short-term operators should book profits at regular intervals. Our hypothesis will be invalidated if bears sink virtual currency below $ 23.090.
BSV / USD
Bitcoin SV is back in the $ 80,352- $ 123.98 range. Currently, the price is facing resistance to the downtrend line.
As long as the BSV / USD pair remains in the range, it is likely to reach the top of the range at $ 123.98. Our bullish display will be invalidated if the price falls from current levels and falls below $ 80.352.
In this case, the bears will try to sink the virtual currency below $ 65.031. Due to the short history of trades, traders should book profits at regular intervals and track stops on the remaining position to protect their capital.
TRX / USD
TRON has demonstrated its over performing status among the best cryptocurrencies. His withdrawal has violated the 50-day SMA and is repeating the test of an important support at $ 0.0183.
Traders who have long gone lower levels can book partial profits at these levels because we expect strong resistance to $ 0.0183. The correction from current levels is likely to support 20-day EMA and $ 0.01339050.
On the other hand, if the TRX / USD pair is downsized and remains above $ 0.0183, it may rise to $ 0.02815521 in the medium term. EMAs up 20 days and RSI in positive territory suggest a possible trend change.
ADA / USD
Cardan rose above the 20-day EMA and entered the previous interval of $ 0.033065- $ 0.045516. The 20-day EMA flattens and the RSI is near the neutral zone. This suggests a probable short-term consolidation.
If the ADA / USD pair breaks out at $ 0.045516, it will face a 50-day SMA resistance. Above this level, recovery can reach $ 0.060105.
However, if the bears again lower the price below the interval, a new minimum test at $ 0.027237 is likely. The downward trend will resume if this level breaks down. Traders should quickly close their positions if the virtual currency does not come out of the resistance.
Market data is provided by the HitBTC exchange. Analysis charts are provided by TradingView.
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