Technical indicators on the daily time frame form a signal to decline. Why is there today probability of a bullish momentum?
BTC / USD
Yesterday, BTC / USD continued to consolidate inwithin the side corridor of $ 9114 - $ 9600. In the morning, the price fell below the level of the EMA55 and tested weak support for the purple dashed line. She helped the pair recover in the lateral range. This upward support shows a positive trend in BTC prices, despite the fact that the pair is moving inside a rather narrow corridor.
Yesterday's volumes were not large, and buyers were notwere able to organize a bullish momentum, for which many of the top altos were able to continue recovery. A similar situation was observed last month, when the price of BTC was in consolidation, and the prices of altcoins were rising. At the same time, the dominance of Bitcoin on the cryptocurrency market was falling, however, soon, the BTC price showed growth, winning its market segment. This could happen today.
Bitcoin price, not waiting, announced inthe beginning of the week of decline to the support of 8900.00 USD, it will begin to recover a slightly sagging percentage of domination. We believe that in such an outburst the couple can easily recover above the psychological “tens”. However this is remains just an assumption.
The Stoch RSI indicator lines on the daily time frame have already left the overbought zone and hung at the border with the neutral zone, forming a sell signal. The signal is confirmed by the MACD indicator. The announced price cuts still have fairly high chances.
ETH / USD
Yesterday, the watch EMA55 provided support to customers, and they did not lose their advantage, were able to increase volumes. Until the end of the day, the price of ether tested the resistance level of 78.6% Fibo (192.57 USD).
Today, after a small nightly pullback, attempts to break through this resistance continue. If buyers succeed, then a re-test of the psychological mark of 200.00 USD is possible.
XRP / USD
The Ripple price yesterday morning could not hold above the midline level of 0.300 USD, and the pair rolled back to the hourly EMA55.
In the afternoon, buyers managed to hold out much longer in the upper part of the yellow corridor, but at night the level of average prices again acted as support.
We believe that today buyers will be able to re-test the upper limit of the yellow range 0.310 USD, which did not take place yesterday.
All prices are based on BitStamp exchange data.