Trading ideas for Friday: BTC, ETH, XRP, ZEC and LTC
Hello dear steemians and traders!
💰 Capitalization of crypto-economics: $ 412.478В
💵General trading volume: $ 26.308B
💥The share of bitcoin: 37.9%
BTCUSD: bear wedge
Bitkoinu is very short. Need to open the position of the decline to $ 8,600, did not follow, the rate jumped sharply, but the flag or other bovine pattern was not formed. At the same time, a bearish figure of the wedge (growing) is now emerging, this very often trades down. I decided to wait and not to open new positions. I will return to the longs in case of a wedge break or at a decrease to $ 8600 (if from this level there will be a reverse lift, then a double bottom is formed). Arrows indicate a possible scenario, in short positions, it is also better not to climb. Earlier there was a chance for the formation of an inverted GIP, but now it is no longer relevant.
ETHUSD: entrenched over $ 650
Ethereum continued climbing along the lower border of the uptrend, the long position, open from $ 623, is in the black, moved the stop loss to break-even at $ 630. The previously formed triangle fortunately was knocked up, which helped to gain a foothold above the resistance level of $ 650 (now support). Now a bullish flag is drawn (with a right angle, more often a rectangle is written), its implementation will help Aether to rise above R1 678 $, the prerequisites for this are, since overbought on the MACD is small and Bollinger is turned up. Parity promised not to split Ethereum. The community will participate in Toronto's EDCON 2018 and will attend the Bitcoin and Blockchain Fair 2018, Australia.
LTCUSD: rose above $ 150
Litecoin managed to rise above the support of $ 150, now for this key level is the struggle of bulls and bears, according to the results it will be clear where the price will go. In case of the victory of bulls, the formation of the third, fourth and fifth waves of Elliott will continue (the first and second waves have already formed), this will allow:
- Back above the lower border of the uptrend
- Update monthly high 166 $
- Translate a long position, open from $ 155 to a break-even.
If bears win, there will be a decrease to the support of $ 137 and a second order for purchase (30% of the previously allocated depot) will work. Growth now can only prevent the top Bollinger band, on the oscillator, after the rise, there is no overbought.
XRPUSD: tests resistance to 0.85 $
Ripple with great difficulty trying to overcome the resistance of 0.85 $, given the blue zone on the Chop Zone, I think he will succeed. However, there is one thing, the Bollinger bands are narrowing, usually before the impulse, but it's hard to say where the impulse will be. According to Ripple, a positive news background, the startup blocker announced the conclusion of agreements with five new European and Asian customers: British FairFX, RationalFX, Exchange4Free, Georgian UniPAY and Malaysian MoneyMatch. Just in case, I moved to a breakeven position open from 0.79 $, just below Pivot 0.81 $ (at 0.8 $).
ZECUSD: formed a double bottom
Zcash has formed a pattern of double bottom, the growth has passed since it shows the yellow arrow set earlier. The open, long position from $ 284 is in the black, moved the stop loss to $ 285, the limit order for $ 253 removed. I decided to reinsure because the price has drawn a local double top less, on the other hand the Chop Zone has a green zone, which indicates the strengthening of buyers. I hope that in about 10 hours there will be an impulse jump up, after which the rate will be fixed above $ 312.
If there are here those people who share my opinion with me, then please follow me! If there are critics, then please leave them in the comments. I'll be very happy!!!
Coins mentioned in post:
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