The analysis of the cryptocurrency market 01/16/2018

Bitcoin The crypto-currency market continues to be under pressure from the authorities. On the eve of the Chinese branch National Committee of Experts on Financial Security Technology warned of the risks associated with the trade in crypto-currencies, since the market capitalization of virtual currencies, including bitcoin, has recently grown significantly. Given that any manifestation of disfavor on the part of the government is painfully perceived by traders, another sell-off has not been avoided.

The bitcoin again subsided, slowing the decline just in the immediate vicinity of the support of $ 12,500. This line is also strengthened by the 61.8 level of Fibo. The technical picture of bitcoin is becoming increasingly bearish. Since there is no reason to refuse shorts, we recommend that you do not. The breakdown of support of $ 12,500, which may occur in the next few hours, can be considered as another signal of the successive sliding of the pair BTC / USD to a psychological mark of $ 10,000. There we are moving along.

Dash

Dash in the course of the last trading session faced even more pressure than bitkoyn. Again, a somewhat forgotten rule is recalled: "the cue ball falls, the viola flies after". The previously mentioned range of prolonged trading of the pair DSHUSD $ 1100- $ 900 could not hold the rate any longer. Dash broke below support of $ 900, reaching a daily low of $ 825. At the Asian session on Tuesday, market participants are trying to find the optimal levels for repurchase, as evidenced by increased volumes for purchase. Nevertheless, the attempts look rather sluggish.

In such a situation it is better to recognize that the market has become exceptionally bearish, only a powerful fundamental driver can change the picture, at least at the current stage. Against the background of the above, we propose two scenarios. Those who are accustomed to take risks, should be sold from the current values. Less aggressive traders should wait for the rollback to the level of $ 1000, then take up short positions.

Ether

Ether (ETH / USD) a little carried away with corrective rollback. Of course, the previously demonstrated growth should be accompanied by a downward trend, but when the price falls below the long-term moving average, there are fears for buyers.

Will they be able to seize the initiative again? Everything will depend on the current trading session, or rather, how much higher or lower from the level of $ 1200 the pair ETH / USD will close the day. Right on this watershed and passes EMA200. It is worth noting that the high chances on the side of sellers, since the technique signals that we are dealing not with a local correction, but with a full turn. In favor of sales, the Alligator indicator, sliding down, MACD with a histogram below the zero mark, as well as fixing the price below the level S1 of the day's Pivot, indicates the sales. With such introductions, there is a possibility of a drop in the air to the area of ​​$ 1000.