Cryptocurrency technical analysis on 11/15/2017
The BTCUSD pair continues to grow, restoring value positions after significant sales last weekend. AMarkets analysts note that the overflow of investment capital from bitcoins to altcoins was the result of the cancellation of the planned “hard fork”, that is, modification of the source code, as a result of which new derivatives are created.
Earlier it was reported that the block size of the Bitcoin system would be increased from 1 to 2 MB, which would increase its throughput. However, the adoption of the new protocol was postponed. Judging by the current dynamics, the mood of traders has clearly improved. Technique also speaks in favor of further growth. At the Asian session on Wednesday, Bitcoin managed to gain a foothold above the 200-day moving average; the presence of a bullish impulse is also confirmed by the outstripping growth of EMA25 over EMA50. BTCUSD quite confidently overcame the mark of 23.6 Fibo, which now serves as a support, and MACD is also on the side of buyers: the histogram has broken through the signal line, continuing to rebuild in positive territory. We recommend that you go into long positions after breaking the R1 bar of the daily Pivot at the level of $ 6900. The goal is $ 7,500.
Dashcoin is in no less demand than bitcoin. After reaching a new maximum of $ 511, although buyers took a local pause, they did not leave the asset. Dash continue to hold in the range of $ 450-400. We recommend considering the levels of this corridor as a good opportunity to build up long positions. At the Asian session on Wednesday, the dash develops confident bullish dynamics, accompanied by growth in volumes. Interest in purchases is based on moving averages that are below the price, clearly signaling the presence of the potential for the development of an uptrend. MACD climbed into positive territory and, without the slightest hint of divergence, a harbinger of a price reversal, crossed the signal line. It is worth noting that the current situation with the DSHUSD pair is almost ideal in terms of the purity of the MACD signals. If the technique does not fail, asset growth will continue. In this case, the goal may be psychological resistance of $ 500.
According to analysts, AMarkets Ethereum chose to keep up with the team of other cryptocurrencies, claiming to update historical highs. The previous goal of $ 326 has been achieved and even exceeded, which indicates the long-awaited exit of $ 300-320 from the boring sidewall. Apparently, the ether decided to master new horizons, and the return of the status of the main competitor of bitcoin, only strengthens the belief that the chances of success are very high. At least the capitalization of the asset is growing again, as evidence of an influx of new investment. With such support, the broadcast may dare to test the October high at $ 350, all the more so since there are a few dollars left before it. Moving averages (EMA 25.50,200), the overcome Fibo level of 76.4, as well as MACD, the volumes of which indicate the preservation of the growth impulse, speak in favor of growth. You can buy now, or as the end of the uptrend line at $ 325.
Material provided by the analytical department of AMarkets