Analysis of prices of BTC, LTC, ETH (04.12.18)

BTCUSD: Bitcoin for Monday showed multidirectional dynamics, trading mostly in a bearish trend. Throughout the Asian session the bears held the advantage over buyers, having lowered the price to $250, which accounted for 6% of the total value of the coins. Further, during the European session, the pair BTCUSD virtually no signs of life, concentrating within $3950-$4000 range. The technical indicator MACD indicates the presence and possible continuation of the downward trend. In this case, we recommend you to short the coin from current levels goal of $3550, where consider buy in case of rebound.

LTCUSD: IN the trading session of Monday, the bears also won a significant advantage, with the result that activated our sell signal with a $28 mark. From a technical point of view, at the mid time frames we can see formed a double top chart, the end result of which could be testing $25 support. Also note that the bears still managed to break through the middle line of the Bollinger Bands and the moving average that they were testing over the weekend. The value of the RSI is bordered by the oversold area, but we recommend to keep in the market, our short position with SL at $31. There we will buy a coin in case of reversal.

ETHUSD: ETHUSD showed similar with other coins trend, down 6%. However, despite the still dominant downtrend, Ethereum, there are some chances of partial recovery. According to MACD, the pressure on buyers has declined markedly in the last days. Also, it is possible to observe divergence, where the minimum of the price chart does not meet the minimum value on the gauge, which could mean a quick correction. The coin reached a local low near $103, which gives us the chance to open a long position at $110, after the full consolidation on a local minimum and the breakdown of the 50 period moving average.


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