What happened with bitcoin, ethereum and dash rates over the past 24 hours.
Bitcoin
Bitcoin (Bitcoin: BITCOIN) remains in the $6,020 – 6,220 range and the market is in a moderate equilibrium. Yesterday we fixed an attack on the lower border, but the buyers quickly returned the price to the middle of the high-volume area of $6,132. In general, the situation was developing within a neutral scenario. Although after the attack on the minimum mark and active repurchase it’s possible to expect further growth (for example, to the upper border of the area).
Daily Scenarios
1. Bullish
Bullish scenario has not changed since Wednesday, which can be described by fluctuations near the control price, a test of upper border ($6,227) with a subsequent attack on a maximum mark. The picture shows a gradually forming triangle, and the price is close to the downtrend. In the past, the price was in a serious resistance. In such conditions, in the next few days we can will witness some big and rapid movements.
2. Neutral
It’s rather possible to see a consolidation in the $6,020 – 6,133 range considering the borders of the triangle.
3. Bearish
We can expect a test of $6,132, a rollback to $6,021 and a decline to $5,750 – 5,708 - 5,650 area. The lower border of the triangle can provide some support and its breakthrough will lead to the sellers’ activity. For a successful attack at the local minimum mark we would like to see another test of lower side of the triangle, followed by a buyback in the area of the control price ($6,132).
Ethereum
Ethereum (BITFINEX: ETH/USD.BITFINEX) is stuck in the low-volume area. The attack on $417 has failed, as did the attempt to return to the $450 - 475 range. Pay attention to the levels of yesterday's maximum and minimum marks. Currently, ethereum is filling the low-volume area and forming a new control point at the $433 level.
Daily Scenarios
1. Bullish
Bulls are hoping for a test of $449 level and waiting for a correction to $440 with the subsequent growth to $460.
2. Neutral
Ethereum seems to consolidate in the $ 425 - 440 area.
3. Bearish
Bears will try to test a $425 level, then return to the target price and attack the $417 level.
Dash
Dash (EXANTE: DASH.EXANTE) followed a neutral scenario in general. Quotes remain at the all important level of support. If this level is broken, dash may fall to $170 - 180.
Daily Scenarios
1. Bullish
It’s worth looking for a return to the $238 - 242 area. Dash behavior will be determined by the dynamic of the rest of the market.
2. Neutral
Neutral scenario is likely to present a consolidation in the $224 - 230 area.
3. Bearish
Bears are looking for a breakthrough of the support and a further decline to $210.
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