Cryptographic analysis: the exchange of options of the Chicago board of directors reports Ethereum at the center of attention



  • BTC / USD follows the script, recovers the key price level of $ 6,900 .
  • ETH / USD recovers but ignores the announcement of the CBOE on the launch of the Ethereum futures.
  • The XRP / USD continues to struggle with moving averages, a necessary target at $ 0.36 price level.

Recovery of the Crypto market after a day of consolidation in which it reached the levels we expected on our analysis yesterday. The consolidation process has not been completed and will probably continue until the beginning of next week.

Yesterday, in the middle of the US session, news of the forthcoming CBOE futures market launch for Ethereum was announced. Great news for the Ether universe, which had been relegated a bit from large derivatives platforms to Bitcoin. The price of Ethereum has not reacted, so we should be aware of the details that may have influenced this lack of reaction.

BTC / USD 240-Min

BTC / USD left its minimum yesterday at $ 6,791 . This price level is not a coincidence, since it was the level through which the EMA50 passed in the chart at 240 min, and in its downward trend, BTC / USD confirmed the uptrend line, the SMA200 and later the aforementioned EMA50.

A movement of the textbook.

For the next sessions, we should wait for the end of the retreat pattern, which will probably go down again in search of the trend line and, once there, follow it waiting for the arrival of moving averages.

Above the current price, the first target is at $ 7,100 (price congestion). Hence, there is a significant jump in the target price that would bring BTC / USD to the price level of [7.445,494] $ 7.400 (price congestion).

Under the current price, the first level of support in the line trend that currently crosses the $ 6,900 price level. Below this level, the presence of SMA200 and EMA50 can act as price attractors, so the levels of support of price congestion, which are lower-end, do not work properly. The SMA200 moves to $ 6,800 price level while the EMA50 moves to the $ 6,810 level.

Therefore, above these two moving averages, everything would be normal. Candelabra closures below moving averages should alert us.

 btc_usd310818-636713047562310289.png [19659005] The 240-Min MACD keeps going down, but a last-minute bullish movement has smoothed the profile and now the chances of a bullish cross are much higher.

The 240-Min DMI makes it clear that buyers are well above the price and have reacted strongly once the confirmation levels have been reached. The ADX also reacts and rises slightly.

ETH / USD 240-Min

ETH / USD continues in its particular ordeal. with the current daily intervals, it is very difficult to get out of the contracted side range. Primarily these contraction phases end up causing a violent increase in the range of action, but they can also extend over time before they occur.

The ETH / USD structure shows weakness, as it still moves below the but in moving averages, preventing any upward development and subtracting opportunities to take advantage of favorable moments while valuing unfavorable times.

Over the current price, at the [$ $ 280 first resistance to beat at the SMA100 and EMA50 move through the price level $ 284 . Over these two moving averages, the price could accelerate and face the levels of $ 290 (price congestion), $ 305 (price congestion), $ 315 (price congestion) and $ 330 (price congestion and SMA200).

Below the current price, there is a very small margin. First important support at the price level of $ 270 (price congestion) and $ 260 (relative minima). Under the $ 260 price level, very bearish scenario.

 eth_usd310818-636713048108730617.png

The 240-Min MACD still remains just above the 0 line. The horizontality shows leaves the pattern of open behavior, with a bullish turn probable as a downward acceleration.

The 240-min DMI shows a slight advantage for buyers, but sellers are very active and have not retreated despite the market recovery. ADX continues to decline, in line with the decline in the market. interval and laterality.

XRP / USD 240-Min

XRP / L & # 39; USD shows us an intermediate scheme between Bitcoin and Ethereum: on the one hand, its structure is not as bullish as that of Bitcoin, but remains above of the main moving averages and its daily reach is still wide. those showing more favorable structures for continued price weakness

Abo ve the current price, first resistance to the price level of $ 0.345 (price congestion), followed by the price level of $ 0.355 (SMA200) and, as a target, the price level of $ 0.368 (price congestion and relative high).

Below the current price, first support at $ 0.33 (EMA50), followed by $ 0.325 (SMA100) and $ 0.32 ( price congestion). Below this last level, it falls to the next support already at $ 0.298 (price congestion).

 xrp_usd310818-636713048853593792.png

The MACD 240-Min is shown completely horizontal but still above the 0 line. Open the scenario for both sides of the price action.

The 240-Min DMI shows sellers at higher levels than buyers, the difference is minimal, but sellers move above level 20 and buyers do not. It's worth considering. 39; ADX continues to weaken and even falls below the level 20.


Source link