What happened with bitcoin, ethereum and dash over the past 24 hours.
Most important crypto news affected bitcoin, ethereum and dash rates
- SEC Corporation Finance Director William Hinman declared that bitcoin and ethereum are not securities and not subject to relevant laws.
- Western Union stated that it sees no financial advantages from using ripple in transactions.
- The American cryptocurrency exchange Coinbase intends to enter the Japanese market since over than half of all bitcoins are bought with Japanese yen.
- British real estate agency Knight Frank made a survey revealing that 21% of well-off families hold cryptocurrency investments.
Bitcoin
Bitcoin (Bitcoin) rate remains close to the vital support level of $6,000, at the same time daily charts show the descending triangle (technical chart pattern created by drawing trendlines along a converging price range), that can lead to the breakup of the support and a drop of bitcoin’s price down to $5,300. A neutral scenario worked out yesterday as sellers tried to attack bitcoin at the minimum price but their attempts didn’t succeed due to the news from the U.S.
Daily Scenarios
1. Bullish
A powerful evening purchase allows hope for further growth. Its worth to expect a possible short-term puncture after which the buyers are likely to activate which will move the quotes into the range of $6,670 -6,870. In the future, a further attack is possible at the level of $7,200.
2. Neutral
The scenario suggests keeping the prices within the range of $6,545 - 6,670 with a possible drift into the $6,670 - 6,870 region towards the end of the day.
3. Bearish
The scenario provides the gradual price decline at around $6,435 -6,535 and a subsequent minimum test of $6,320.
Ethereum
Yesterday ethereum (ETH/USD) returned to the double high volume of $510 – 535 but failed to do so in the upper part ($525 - 535). This morning ethereum tested the psychological mark of $500 and is now growing moderately.
Daily Scenarios
1. Bullish
The bullish scenario forces the return to the high-volume area of $510 – 535, fixing in the upper part and possibly testing both lines with a subsequent attack at the $560 level. But, considering the global downwards trend, it looks rather unlikely.
2. Neutral
In this scenario the quotes can test the $500 level and then return to the high-volume area.
3. Bearish
The scenario provides a further increase in pressure from the sellers, a return to the area of $480 - 490 and a possible test of the minimum at around the $460 mark.
Dash
Dash (DASH/USD) is following the rest of market. Recently, it has settled at just above the global support level of $225, and looks somewhat stronger than ethereum or bitcoin.
Daily Scenarios
1. Bullish
The scenario provides the return of dash to the high-volume area of $264 - 276. In the future, its possible to expect it to test both lines with an attack at the level of $284.
2. Neutral
It’s possible to see an attack on the level at $256, with the following drift at around $264 - 276.
3. Bearish
Bearish scenario presents a gradual price decline in the range of $254-262 with a possible decline towards $247 - 250.
The trade in the cryptocurrency market is associated with high risks and is not suitable for every investor. The above analysis should not be considered as a recommendation or a call to action. Each trader should assess the risks for themselves. Both the author and Insider.pro are not liable for the potential losses incurred.
By Yana Sher