Time on the moon: three sign that the cryptocurrency will soon begin to grow
Source:In its history, the cryptocurrency fell several times. After each correction, when investors ' hopes were trampled and broken, Bitcoin once again took a new record after about a year. The stock market is very on the dot-com bubble in 2000 all also predicted a complete collapse . Now this is one of the largest companies in the world.
Will the story on a new circle this time? Some analysts that the bottom has already been found. In collected three major reasons that the capitalization of the stock market never will fall below $ 200 billion.
theRollback Ethereum
To date, the cost of the second by market capitalization of bitcoin has fallen nearly 40 percent since the fifth of September. Since December, the price of Ether fell by 85 percent. Today, the bulls took control of the situation. Asset prices have risen almost 20 percent in just 24 hours.
Based on the 1-day schedule of Ethereum, the price bounced from the old resistance and the lower line of the pattern Falling Wedge. In addition, the RSI formed a clear bullish divergence.
To start a new uptrend following a few daily candles have to close above $ 230. It is a cryptocurrency opens the way to new levels of resistance around 900-1000 dollars. Because many altcoins are designed based on Ethereum, the bullish scenario will affect the prices of other cryptocurrencies.
theStrong support for Bitcoins
On the weekly chart cryptocurrency pullback from 5859 dollars in August, formed this year's first local minimum, which was higher than the previous. The following plums stood at around $ 6120, forming another rollback.
On the trendlayn passing through these points formed the point of exhaustion bears. We can hope for growth in the long term. However, only until such time as the price holds above trendlayn.
Now the bulls need an incredible effort to push the price above $ 8,500. Then the chart will form a local maximum higher than the previous one. In this case, the beginning of a new bullish trend will not be far off.
therisk appetite in traditional markets
Appetite for risk is increasing even in the market of conventional currencies. In the last 24 hours of trading the AUD/JPY rose by one percent. At the same time, the dollar index fell 0.24 percent.
Many investors are waiting for the new sharp movements in traditional markets. All this in the midst of a trade war between the US and China opens the way to huge profits. It is possible that traders will be interested in even a Bitcoin, which in the circles of wall street is considered the most risky asset.
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