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Looking at the Bitcoin (BTC) tactically, Bitcoin (BTC) sits atop the intraday support near $ 3,688. Stochastics are oversold, so Bitcoin (BTC) can maintain its position. If Bitcoin is under this point, it would be an indication yesterday's negative news is speculation on a decline in the cost of production could start a move in Bitcoin (BTC) to the recent lows.
If Bitcoin (BTC) holds at $ 3,688 then you'd have a case of bears and the Twitterverse crypt trapped at the bottom of a simple interval.
Figure 1
Tron (TRX) came across the horizontal strength of the material on his two-day chart. TRXBTC was so vertical on the road that the TRXBTC is still pushing against its top Bollinger Band. This could indicate that TRXBTC could correct its 20-period moving average close to 500 (Figure 1). It also seems that there is a negative stochastic divergence on the spot. At a minimum, Tron (TRX) could undergo lateral consolidation in a wide range for a few days.
Figure 2
In Ethereum (ETH), the focus for today will be on the 21-period moving average on the two-day chart at $ 123 (Figure 2). Holding on that line will be the key to stability. If Ethereum is below that level, it becomes possible to go to $ 100. Momentum indicators such as Parabolic SAR and negative stochastic divergence reinforce the importance of support for $ 123. A breakup of this could trigger more sales. If he supports, it could be very constructive.
Figure 3
Litecoin (LTC) it is a technical pain house. A model of head and shoulders down and support for $ 38 has sucked almost every chart, including the famous John Bollinger. The 21-day moving average is $ 34. Litecoin (LTC) must maintain that level or an upwardly inclined bearish wedge could become operational technical training.
Figure 4
Bottom line: Bitcoin (BTC) seems OK for now. The Twitterverse crypt has become bearish and may contain prices. That said, crypto must prove that what is happening now is not a November repetition. Conversely, if the $ 3,688 in Bitcoin, $ 123 in Ethereum (ETH) and $ 34 in Litecoin (LTC) remain all, the picture could become bullish.
The Crypto.IQ trading room has its own set of specialized levels on which they are working to classify these big coins and take advantage of the feelings. The Crypto.IQ Trading Desk has a unique way of monitoring the twitterverse crypt and using it as an indicator of sentiment.
Join me there how to exploit these tools to make decisions in open and down markets.
