Popular Posts

Editor'S Choice - 2019

Cryptocurrency technical analysis on 11/13/2017


The BTCUSD pair finally respected the sellers with the long-awaited correction, the depth of which makes us think about a likely change in the trend movement. As expected, the fundamental legacy of the abolition of the planned hard fork led to negative consequences for the price dynamics of the cue ball.

From the local maximum of $ 7,870 reached on November 8, Bitcoin fell to $ 5,493, a mark which corresponds to 50 Fibo level. Well, how can one not believe in the persistence of Fibo supports? Given the “selling” volumes that traders have piled on the main cryptocurrency, it will not be easy to stop them. Again, a powerful fundamental positive is needed that can cope with the function of compensating for market sentiment. Until its appearance, the recommendations remain the same - only sell. For those who joined our sale transaction, we advise you to transfer the order to breakeven and wait for bitcoin in the region of 61 Fibo level ($ 4998). Those who are just looking for entry points are advised to consider selling from the upper limit of the local downward channel at $ 6180.


Dashcoin also exceeded the plan. According to AMarkets analysts, a sharp weakening of the Bitcoin exchange rate provoked an overflow of capital in altcoins, which ultimately led to the growth of most of its competitors. The results are beyond praise. The asset immediately surpassed the previously indicated target at $ 355, updating the historical maximum. Now the bulls have to fight for a new place in the sun, located above $ 500. At the Asian session on Monday, the DSHUSD pair is losing value, developing a very logical correctional dynamics, traditionally following each similar growth. However, the dash is still extremely attractive for opening long positions. The asset is trading above moving averages, the EMA25 crossed below the EMA50, signaling a high probability of continued growth, the MACD histogram, although it lost momentum, is still much above zero. It is also worth noting a rather rare situation when the bulls manage to leave behind all the resistance of the daily Pivot level immediately. Against this background, we recommend maintaining long positions with the goal of another crossing. It is worth buying after fixing the dash above the resistance of $ 450, or when the rebound from support is $ 400. Better to hold off sales.


According to analysts at AMarkets Ethereum, it remains committed to the lateral dynamics and monotony of trading. The last three trading sessions, the entire movement of the ETHUSD pair falls within the range of $ 300- $ 320. It is not surprising that with such dynamics, traders try their luck in other cryptocurrency market instruments. However, the lack of interesting movements now does not mean at all that interest in the asset will not appear later. We remind you that ether remains one of the main competitors of bitcoin. If the capitalization of the cue ball continues to decline, part of the capital may well flow into the air. With this in mind, we recommend maintaining long positions in favor of which the price is above the EMA25, EMA50 and EMA200, a support in the form of a 50 Fibo level, the median mark of the daily Pivot, as well as MACD in positive territory. The target is the upper boundary of the ascending channel of $ 326.

Material provided by the analytical department of AMarkets

Watch the video: CRYPTOS BOUNCE! BUYING OPPORTUNITY? 111317 Daily Crypto Update + Technical Analysis (November 2019).

Leave Your Comment