The opinions and views expressed here are only those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and commercial movement involves risk, you must carry out your own research when making a decision.
Market data is provided by the HitBTC cryptobol.
After the first signs of healing, the opinion is divided over the current withdrawal of the market. Some say that it is only a temporary renewal, while others believe it is the beginning of the process of building bases that will result in a new upward trend. Michael Buquela, an investment firm focused on the encryption blocknot BlockTow Capital, told CNBC that the smartest money began to invest.
However, Paul Donovan, Global Chief Economist at UBS, said digital currencies could never be coins and that they were "fatally wrong". After the recent decline, many question the length of the encryption. The improvements and the deployment of the past show that the newborn's class oscillates between periods of extreme optimism and pessimism.
For those who are not believers, this is not the place to be. However, for investors who believe in the long-term history of encryption, Rick Edelman, founder and CEO of Edelman Financial Services, believes it's a good time to start buying bitcoin.
Will we or anyone choose the right fund? No! A basic fund can be identified only in retrospect. Therefore, retailers can scale in a position, gradually building a portfolio. Let's see what virtual currencies display buying configurations.
BTC / USD
Contrary to our opinion, the fall of Bitcoin did not even reach the level of Fibonacci withdrawal of 38.2 percent from 4712.89 dollars. It was oriented down from $ 4471.1 on November 29. This indicates that bears are unwilling to wait for sale at higher levels.
There is less support in the line of the small upward trend, under which a new test is possible at a minimum of $ 3620.26. It is likely that the break from the year to the present will attract more sales, pulling the BTC / USD pair to $ 3,000. This is an important level that must be maintained: a break from this may result in a fall of $ 2410.
However, we expect to hold the area from 3,500 to 3,000 dollars. Therefore, traders who have taken long positions due to our recommendation may retain their positions. We will close the position if we find that the bears are below 3500 dollars.
If the price jumps from the current levels, you can move up to $ 4712.89 and $ 5050.4. We can add more positions because the virtual currency is rising to the north.
XRP / USD
Ripple activated our proposed level of purchase on November 28, but could not exceed $ 0.4. Currently, the price has fallen and can re-test the daily lows on Nov. 25.
The downward trend of the 20-day EMA and RSI below 40 levels will continue to attract sellers. A pause below the downline support line may result in a drop to $ 0.24508. However, if support is maintained, we anticipate returning to the upper part of the range. Operators who have purchased positions in our recommendation may retain a loss limit of $ 0.3. Positions can be closed if the pair XRP / USD remains below 0.3.
ETH / USD
The return to Ethereum disappeared from $ 127.87. It continues in the bearish trend, but has traded in the range of 130.5 to 102.2 dollars over the past seven days.
The pause in the range could face a slight resistance in the 20-day EMA, but we expect it to cross. The ETH / USD pair will face a strong resistance of $ 167.32 and if this level is violated it will be in the 50-day SMA. We propose traders to wait until there is a sign of turning the trend before trying long positions in pairs.
BCH / USD
Bitcoin Cash continued its stay in the narrow range of $ 204.76 – $ 148.27. The longer the price remains in the range, the stronger the eventual increase or decrease.
The two average movements have a downward trend, and the RSI is in a resale zone, indicating that bears are responsible. We expected an interruption after the sale was strong and the couple BCH / USD was oversold. But the lack of buying and selling by bears threatens to pause in the range.
If the price remains below $ 148.27, the slide can be extended to the next $ 100 support. On the other hand, if the bulls keep the lower part of the range and the break of $ 204.76, we expect an increase of $ 242.9 and $ 272.14. Aggressive traders can raise this movement, but such as trade against this trend, leave the size of the position small.
XLM / USD
When support fails, it becomes a new resistance. The stronger the support, the stronger the resistance. Stellar fell from a top resistance of $ 0.184.
The bears will try to sink the recent falls of $ 0.1327050 and fall XLM / USD to $ 0.08. On the contrary, the bulls will try to defend the area between 0.1327050 and 0.1547188 dollars. We will be positive in the virtual currency if the price stays above $ 0.184.
EOS / USD
EOS has a strong soft trend. After a one-day withdrawal, the decline continued and the price reached a new low level so far this year. The next support for the lack is $ 2.4.
The failure of the EOS / USD couple to get out of the trend of the bearish trend shows that the bears are in control. Operators must wait for the digital currency to be placed in the fund and show signs of stabilization before it goes on for a long time.
LTC / USD
Litecoin remains in a downward trend, with moving averages in a declining trend and RSI in a negative territory. The withdrawal stopped only above levels of $ 36, indicating a lack of procurement at the highest level.
Bears will try to establish a new minimum this year, while bulls will try to defend the current minimum. If the bears are successful, the LTC / USD Park can be fixed at $ 20.
However, if the bulls use the fall to buy and form a higher minimum, it will indicate the strength. The digital currency will show the first signs of a trend change if it stays above the trend line of the trend. Until then, he remains vulnerable to a bearish attack.
ADA / USD
Sellers did not even wait for the recovery to reach EMA 20 days before taking up positions. Cardano can test recent lows of $ 0.033065 in the coming days. If bears discontinue support and reached a low level this year, the fall could be extended to $ 0.025954.
On the other hand, if the bulls manage to maintain support, a pair of ADA / USD can initiate a core fund process. The change of trend will be indicated when the price will make a series of higher and higher minimums. By then, it's likely that the bass players will fall at any time.
XMR / USD
The withdrawal in Monero was short-lived. If the bulls fail to reach the first general resistance of $ 71, it indicates a lack of interest in buying. The trend remains firmly down with average slope movements and RSI close to excessive levels.
The break below the $ 53 level will continue with the bearish trend and can throw the XMR / USD pair into the next $ 40 support. If bulls defend psychological support of $ 50, they will demonstrate buying at lower levels and will increase the likelihood of forming a basic fund. Operators must wait to form a new purchase configuration before starting a new position.
TRX / USD
The strong fall of TRON ended just above the 20-day EMA. Currently, bassists are trying to reduce prices to the latest lows.
The trend is still down, swords successfully defended the first level of resistance, which shows that sellers are responsible. If a pair of TRX / USD sinks below $ 0.01089965, the next downward target is $ 0.00844479.
On the other hand, if the bulls manage to keep prices above the intraday low on November 25, the digital currency could enter into consolidation. There are still no signs of a trend reversal.
Market data is provided by the HitBTC cryptobol. The analysis charts are provided by TradingView.