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While a buy and hold strategy proved beneficial to early Bitcoin investors, late entrants used brutal price swings to add to their Bitcoin figures. We can see in the graphs in this article that whales have increased their Bitcoin holdings over the past two years.
In these price fluctuations, an average trader buys at high levels and sells at the lowest. We have tried to help our readers avoid this pitfall. Throughout this fall, we refrained from suggesting aggressive long positions. But, are we finding a short-term bottom now?
Let's See
BTC / USD
We expected Bitcoin to reestablish lows after dropping the trend line. But bears could not break the $ 8,000 mark.
<img alt=" BTC / USD "src =" https://cointelegraph.com/storage/uploads/view/c8963a85b877b7adb125cbc245c32723.png "title =" BTC / USD "/> Currently the price is likely to We expect levels from $ 8,600 to $ 9,400 to be a real test for bulls.
If they manage to get out of this area, a quick rally at $ 12,000 could take place, where he will again face the resistance of the SMA at 50 days and the resistance line of the descending channel.
Therefore, traders can expect a break above $ 9,500. Profit objective is to increase to $ 12,000
And if the pair BTC / USD fails to come out of $ 9,500 and refuses again?
In this case , traders should wait, resist the urge to buy at lower levels because if the price falls below $ 7,800 we could see it go down to $ 7,000
We always offer bullish and bearish scenarios because traders must know what to expect in both cases. It would be irresponsible to provide levels only in a round of events.
ETH / USD
After a two-day dive on February 10 and February 11, Ethereum is also trying to recover.
<img alt=" ETH / USD "src =" https://cointelegraph.com/storage/uploads/view/1eb07dc7f7fd6861e41c604cb598ca38.png "title =" ETH / USD "/> The ETH / USD pair is likely To deal with resistance at $ 911 from the 20-day EMA and $ 980 from the 50-day SMA Above these levels, the price can pass to the resistance line of the downstream channel, to the levels from $ 1,050
the disadvantage, $ 775 has a strong support.
It does not provide a good reward ratio risk, so we do not suggest an exchange on it
BCH / USD
Bitcoin Cash has been traded for a short time in the last four days and could be resolved with a large number of days, up or down.
<img alt=" BCH / USD "src =" https://cointelegraph.com/storage/uploads/view/87374dcd09198130ffe480947d3701c5.png "title =" BCH / USD "/> S i the day the big beach breaks down, we'd better avoid doing anything.
But if the BCH / Pause USD pair s off the bearish trend line and the EMA at 20 days, it will indicate a short-term floor, which can be traded.
Therefore, we think that a long position at $ 1,400 with a $ 1,100 stop loss could be a smart move. The profit target of this trade is a rally at the levels of $ 1,925 – $ 2,000.
XRP / USD
We had written about the possibility of a short-term fund in Ripple. We are waiting for a rally over the 20-day EMA to initiate long positions
<img alt=" XRP / USD "src =" https://cointelegraph.com/storage/uploads/view / b659bd0c7a659417490ff0063b23b08b. png "title =" XRP / USD "/> On February 10th, the XRP / USD pair was detached from the EMA at 20 days, but could not maintain higher levels, but again at the 20-day EMA.We believe that if the bulls are staying above the $ 1.1 levels for four hours, we can expect a rally towards the SMA of 50 days at $ 1.5. keep a stop loss at the level of $ 0.86, which is just below the previous support Ripple has been an underperformer in the current fall, therefore, please trade with only 50 percent of the size of the usual position
XLM / USD
Stellar has continued his trading activities within the limits of the range in recent days as rallying attempts face a strong resistance at levels of $ 0.41 59007]
<img alt=" XLM / USD "src =" https://cointelegraph.com/storage/uploads/view/98461a604 59b9bf7897e6789c35abbe0.png "title =" XLM / USD "/> If the bulls manage to get out of the descending channel, we expect a rally at $ 0.63. We do not find trade long until the XLM / USD pair is traded in the channel.
On the downside, if the cryptocurrency falls by $ 0.3 on a closing basis (according to the UTC),
Therefore, we'd better wait a breakout of the canal to initiate long positions
LTC / USD
We had advised on long positions in Litecoin if the break remains above the levels of $ 175. However, in the past three days, the bulls have struggled to cross the 20-day EMA hurdle.
<img alt=" LTC / USD "src =" https://cointelegraph.com/storage/uploads/view/f74fb7f3023bf6b1099a575f0b754d3f.png "title =" LTC / USD "/> If the price is $ 175 , the 20-day EMA resistance, the downtrend line and the horizontal line will be removed.
We believe that it is a matter of significant development, ie we reiterate our recommendation to initiate long positions if the LTC / USD pair stays above the levels of $ 178 for four hours
On the other hand, $ 200 is a resistance If the cryptocurrency is struggling at this level, we should close the position or tighten the stops
Once the bulls have broken $ 200, we will see perhaps a rally at $ 307
ADA / BTC
Cardano continues to trade inside the tr descending angle. arish setup, and a decomposition of the support at 0.00004070 will complete the pattern.
<img alt=" ADA / BTC "src =" https://cointelegraph.com/storage/uploads/view/6225aca391d8de272a36bdd4c85b1b7b.png "title =" ADA / BTC "/> Although the target of this split or much lower, we expect the ADA / BTC pair to find support at 0.0000246.
The failure of a bearish model is a bullish sign therefore, if the cryptocurrency comes and goes out of the 20 days EMA, the descending downlink and the SMA 50 days, we have to reverse our position and go a long time
Until then , think of not stopping there.
NEO / USD
In our previous analysis, we recommended a long position on the NEO above the $ 120 levels with a stop loss $ 100
<img alt=" NEO / USD "src =" https://cointelegraph.com/storage/uploads/view/3b6244b35fd8070f57 f41933487aedf6.png "title =" NEO / USD "/> Although the price reached an intra-day high of $ 120.33 on February 10th, it could not be adjusted to levels. Therefore, traders should wait until the price is maintained for at least four hours before buying the breaks.
On the downside, $ 93.53 again played an important role yesterday, February 11th.
USD / USD is stuck in a $ 93.5 downward range and up $ 120. A break in this range is likely to propel the cryptocurrency toward the downtrend line of the descending triangle.
Traders can buy on a breakout greater than $ 121 if the price maintains the level for at least four hours. The initial stop loss should be maintained at $ 93, which should be higher if the bulls fail to break the downward trend line of the triangle.
But in the case, if the NEO denies moving averages and breaks down levels of $ 93.53, it could become negative
EOS / USD
We had recommended a short-term exchange on EOS at $ 9 with a goal of $ 10 and $ 12. Cryptocurrency is close to our goal, capping at $ 9.9 on February 10th. Hopefully the traders will drag their stops higher and close the trade at least in balance.
<img alt=" EOS / USD "src =" https://cointelegraph.com/storage/uploads/view/b68ee8bc1641889aaf0fd12366510cb7.png "title =" EOS / USD "/> Moving averages finished a crossover bearish, and the 20-day EMA is on the decline.is likely to offer strong resistance at levels of 10.
On the downside, the levels of 7.5 to 6, $ 5 will serve as a solid support.
We can not find any reliable trading patterns so far, so no suggestions on new trades with the EOS / USD pair
Market data is provided by HitBTC exchange, charts for analysis are provided by TradingView.