The Crypto market extends discounts at the start of BlackChain Friday


  • The new falls on the Crypto board send a wave of panic to the market.

  • Technical indicators are holding up well in the short term.

  • In the long run, only a miracle will prevent new annual lows.

The early hours of BlackChain Friday translate into a downward run with discount rates on the Crypto Board. The bullish attempt failed sharply in the face of strong bearish inertia.

The graphics today leave a complex and opposite structure. Before throwing the rotten tomatoes, I want to tell you that the graphs are fractal structures. Imagine a Matrioska doll. Inside one with a terrible face, there can be one with a radiant smile and vice versa. They are contradictory, but they coexist and share the same destiny.

In the 240-minute chart, today's declines are the result of the rejection of the bullish cut. Bitcoin has not hit new relative lows. The indicator structure maintains an optimistic profile.

Ripple lost support to $ 0.413, and its technical indicators follow a turnaround pattern. Ethereum has set new annual lows and its technical indicators also do not seem promising.

The charts in the daily range have a very different story. Bitcoin and Ethereum are very bearish. No excuses. I am fond of these crazy people, but they are going through difficult times.

Undulation does not look so bad for the future, but has lost vitality. He can get into trouble if he does not correct the course.

Trade and investment are so extraordinarily complex because of these things. The human mind is not prepared to handle hope and fear at the same time and make a decision about it.

Do you want to know more about my technical configuration?

BTC / USD 240 minutes.

The 240 Minutes of BTC / USD show that the digital currency has touched a daily minimum a $ 4.091. Loses the level of support of $ 4,400 (support for price congestion) and will probably continue to move to next support a $ 3.920 (support for price congestion). Below this level of support, the next level a $ 3,250 would mean a further 20% decline.

Above the current price, the first goal a $ 4,400 (resistance to price congestion). The second resistance is a $ 4.922 (resistance to price congestion and EMA50). The third resistance a $ 5.330 (resistance to price congestion and long-term bear channel base) is strategic. Recapitulating would return the BTC / USD to a more favorable long-term scenario.

The 240-minute MACD continues to cross despite today's falls. The profile is surprisingly favorable to price increases.

The 240-minute DMI does not show a significant increase in bear activity. The bulls slightly decrease their strength and seem convinced that it is not time to move on.

XRP / USD 240 minutes.

The 240 minutes XRP / USD have left the lows of the day al $ 0.397 price level, losing support to $ 0.413 (support for price congestion). At the time of writing this article, he is trying to regain this strategic level. The second level of support is a $ 0.366 (support for price congestion). The third level of support is a $ 0.345 (support for price congestion).

Above the current price, the first resistance is a $ 0.413 (resistance to price congestion). The second resistance is a $ 0.429 (resistance to price congestion). From there, the XRP / USD could attack the area between $ 0.44 is $ 0.46, where resistance to price congestion and the uptrend line from annual lows converge. Recovering it would increase long-term trust.

The 240-minute MACD perfectly illustrates the refusal of the confident cross. The lines continue to cross down, and there should be a second attempt that statistically would have greater chances of success.

The 240-minute DMI shows how the bears tried to return above the ADX line and failed. This movement is a typical pattern of behavior before a turn-around.

ETH / USD 240 minutes.

The 240-minute ETH / USD is trading at the price level of $ 124.10. He punched the support level below $ 125. Right now he is trying to recover the level. If the ETH / USD fails, the next level of support of $ 94.5 (support for price congestion) awaits you. The third level of support is a $ l & # 39; 80. If ETH / USD reaches this support, it will greatly complicate the long-term scenario.

Above the current price, the first resistance is at the price level of $ 125 (resistance to price congestion). The second resistance is between $ 153 is $ 155, an area in which the EMA50 converges and a resistance to price congestion. The second resistance is a $ 170 (resistance to price congestion). If the ETH / USD reaches this level, an attempt at $ 180 price zone, where congestion resistors and SMA100 converge, would be feasible.

The 240-minute MACD continues to cross even though today's crashes have brought the averages to the maximum. The profile continues to be positive in the short term.

The 240-minute DMI shows how bears have not increased activity despite the decline this morning. The bulls continue to retreat and do not show confidence that the falls will take a short-term break.

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