The opinions and opinions expressed herein are those of the authors / contributors and do not necessarily reflect the opinions of Cointelegraph.com. Every movement of investment and negotiation involves risks, you should conduct your own research by making a decision.
* BTC / USD, ETH / The USD and LTC / USD market data is provided by the HitBTC exchange .
In August, 2017 Bitcoin was split in two, which gave rise to the appearance of Bitcoin. Cash, and yesterday the network has experienced the second fork, Bitcoin Gold. Whether it's a benefit or a disadvantage for Bitcoin is under discussion. Both parties have their own explanations
However, as traders, we seek historical precedence and try to trade it
After the first fork, Bitcoin prices have took off, rallying August 2, the highest intraday of $ 4,975 on September 2. This is a 89.75% rally in a month
If history was repeated, the Bitcoin should reach $ 10,443 by November 24th. This figure seems a bit doubtful as most traders expect Bitcoin to fall now that the range has been completed. They expect money to go to altcoins. We have seen a spark in the last two days. However, this rally fizzled.
The rumor of Amazon accepting Bitcoin can it become a reality and give new impetus to cryptocurrency? We must wait and watch it.
However, what do the maps provide? Is it time to switch from Bitcoin to altcoins or Bitcoin will try to resume its rally? Let's find out.
BTC / USD
We have not initiated any position on Bitcoin in recent days. Is it the right time to come back in the game?
However, we want to buy upward and not downward, therefore, please, run long positions at $ 5,650
We do not expect a huge rally on the part of traders should record partial profits at $ 6,000 and lift the stops on the remaining positions to reach the breakeven point, if the cryptocurrency is recovering according to our expectations.
On the other hand, if Bitcoin turns around and tom be below $ 5,350, it can extend its fall to levels of $ 5,000 So, please, keep a stop loss of $ 5,300
The negative divergence on the RSI is a cause for concern. Therefore, we will keep the allocation size 50 percent below normal. This is a very risky business
ETH / USD
Ethereum must have given some stomach burns to our readers. It went from $ 275 to almost $ 320, and we could not catch it.
These Volatile Transactions Will Be Difficult to catch, sometimes support levels can break and other times, they can hold. Cryptocurrency has been falling for several days, therefore we
Nevertheless, after the fast rally , Ethereum gave up most of its gains and came back under the $ 300 levels.
Currently, digital currency is likely to rebound to deal with the 20-day resistance to EMA and at the SMA at 50 days, she becomes bullish only on a break and closes above $ 315 .For the moment, we do not see a reliable pattern.
The inconvenience , the trend line is a great support, which is likely to hold. But as the price is i lower than the moving averages, we do not counter it as a good level to initiate long positions
That's why we do not recommend any exchange on Ethereum yet.
BCH / USD
Bitcoin Cash is attracting buyers to current levels. There have been two attempts in the past three days to push the cryptocurrency higher.
However, the logical stop loss for this transaction is lower than the lower limit of the $ 280 range, which does not give us a 1% risk. : 1 Therefore, it does not seem like a good idea to trade
On the other hand, if the digital currency breaks down at the lower end of the range, it can go down at $ 190.
XRP / USD
After a steady decline in levels of $ 0.3, Ripple is trying to maintain the levels waters of $ 0.18
On the other hand, any fallback attempt will face the sale to moving averages and to the downtrend line. The digital currency will only become positive after crossing the levels of $ 0.238
Currently, there is no bullish configuration. Therefore, we do not suggest any exchange on Ripple.
LTC / USD
Yesterday, Litecoin tried to get out of the overhead resistance of $ 58; however, the bears have pushed back into the range.
Crypto-currency will only become bullish on a break and will close over the top range.Our target target is 71. The stop loss for the trade can be maintained at 51
On the contrary, if the bearers continue to beat the digital currency, they may fall to the lower end of the range at $ 44. Therefore, we recommend a purchase only after the bulls are able to push Litecoin out of this range.