Russia sees Bitcoin as a key to accessing the capital market

• After the sharp increases, the reasons for the sale are emotional and not technical.

• The XRP is doing well and does not bow to criticism.

• A Russian analyst talks about 10 billion dollars of government purchases.

It rises in Europe with a drop in the three most important cryptocurrencies, ignoring the news coming from Russia on its intention to transfer part of its vast reserves of foreign currency to the encrypted market, in particular to Bitcoins.

Vladislav Ginko, an analyst specializing in cryptocurrencies and the country's presidential advisor on these issues, said the Russian government will prepare an investment of $ 10 billion for the first quarter of 2019 on a total planned investment of $ 470 billion. He also states that the country's foremakers are urgently demanding their capital managers how to convert millions of dollars into Bitcoins.

The investment funds in Moscow are inundated with the demands of the rich Russians "how to buy for $ several million Bitcoins".

– Vladislav Ginko (@martik) 9 de enero de 2019

No member of the Russian government has confirmed the news. And for now, it does not seem that the market gives too much credibility. If confirmed, it would be a real revolution and would bring Bitcoin status to a new higher level.

Do you want to know more about my technical configuration?

Daily chart BTC / USD

The BTC / USD pair is currently trading at $ 3,779 price level, lowering more than 5% in the session. Technically, the move has not changed the previous scenario, but puts pressure on Bitcoin, which has failed to move away from relative lows in recent weeks.

The arrival of equilibrium levels in the MACD tends to cause rebounds against it, as many traders mark these levels as a signal to raise profits and others take advantage of short-term movement.

Under the current price, the first level of support is $ 3,700 (support for price congestion). The second support is $ 3,600 (support for price congestion). Below current prices, BTC / USD would lose the bullish momentum and reopen the doors to the media's hell. The third level of support is a $ 3,275 (support for price congestion), a level able to test the nerves of many traders.

Above the current price, BTC / USD has the first resistance to $ 3,900 price level (resistance to price congestion). The second level of resistance is a $ 4,120 (EMA50). The third level of resistance is a $ 4,400 (resistance to price congestion). This last level of resistance is fundamental and its exceeding could bring the BTC / USD to a period of substantial increases.

The MACD in the daily interval shows precisely how the transition from the downside indicator to the bullish zone coincides with the bullish strength loss. This graphic structure is a typical model and a sign of weakness that could extend further for a few days.

The DMI in the daily range shows us how bears are completely convinced of the descent, reacting to growth and reaching the same level of bulls. The bulls, on the other hand, have just decreased in intensity, so it does not seem to have been the lack of faith bull to trigger falls.

Daily ETH / USD chart

ETH / USD is currently trading at $ 133 price level and drill the EMA50 into the daily range. It is an essential sign of weakness that ETH has lost the support of this exponential average after the price has passed over only for a week.

It is also strange and harmful that this weakness appears before the approach of the gallows of Constantinople. This type of event generates a lot of interest and the activity tends to increase dramatically.

Under the current price, the first level of support is a $ 125 (support for price congestion). The second level of support is a $ 117 (support for price congestion). The third level of support is a $ 110 (support for price congestion). If ETH / USD loses this level of support, it will have lost the whole bullish momentum and the consequences could be quite significant.

Above the current price, the first and most important objective is the first resistance a $ 138 (EMA50). Recovering it by the end of the day would leave the anecdotal movement. The second resistance level for ETH / USD is a $ 142 (resistance to price congestion). The third level of resistance is a $ 155 (resistance to price congestion and SMA100).

The MACD in the daily range shows a downward profile within the bullish region of the indicator. The normal model should bring the averages to neutral at zero in the coming days. From this point on, it should cross the bullish channel again to resume the uptrend.

The DMI in the daily range shows a profile similar to that seen in the BTC / USD pair. The big difference is that in the case of Ethereum the bulls are hesitating and withdrawing. Bears smell fear and climb very aggressively to bulls, but without going beyond them.

Daily XRP / USD chart

XRP / USD is currently trading at $ 0.348 Price level. This price coincides with a level of support for price congestion. XRP has been acting better than Bitcoin and Ethereum for four days. It goes down like them but with less intensity.

Below the current price, the first level of support is a $ 0.345 (support for price congestion). The second level of support is very far a $ 0.32 (support for price congestion). The third level of support is a $ 0.297 (support for price congestion). If XRP / USD loses the $ 0.336 price level, it will enter the gap gap left last December 5 and would complicate the situation a lot.

Above the current price, the first resistance is at the price level of $ 0.368 (resistance to price congestion). The second level of support is a $ 0.373 (EMA50). Above this second resistance, we encounter the "problem" of Ripple: a bullish hole that reaches $ 0.412 (resistance to price congestion) and that will undoubtedly consume a lot of capital to conquer it.

The MACD in the daily interval shows a horizontal profile and above the neutral line of the indicator. The complexity of the structure derives from the lack of volatility and trend strength. To restart, XRP will probably need an external catalyst.

The DMI in the daily interval shows an absolute link between the bulls and the bears. Both move below level 20, reflecting the lack of tendency I just mentioned. Bears rise significantly, but the bulls do not come out and maintain their position.

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