Cryptomarket Analysis July 13
Main page Finance, Cryptocurrency, Bitcoin, Ethereum
Hot topic
13 July

What happened with bitcoin, ethereum and dash rates over the past 24 hours.

Bitcoin

Currently bitcoin (Bitcoin) is consolidating in the $6,222 – 6,264 area after the rise at night. The $6,078 level has marked the supporting point on several occasions, but the subsequent growth has not lasted.

Today, the drift towards $6,125 is most preferable outcome, but don’t risk saving short positions for the weekend – the probability of the manipulative purchases of June 30 and July 8 is rather high.

Daily Scenarios

1. Bullish

Bullish scenario hasn’t changed since Thursday: a return to the high-volume area, with a test of $6,391 and a resistance at $6,400. In case of a rise overnight, the main target will the $6,500 mark. In the long term, buyers are trying to return the cryptocurrency to the $6,800 level.

2. Neutral

The main goal of the neutral scenario is to reach the $6,125 level. However, we may see a test of $6,264 and $6,222 levels.

3. Bearish

Bearish scenario provides a decrease to $6,125, an attack at $6,078 with a possible breakthrough in the direction to $6,021.

Ethereum

Ethereum (ETH/USD) has received some extremely important support. As already noted, a drop below $400 is highly undesirable. On the daily chart we can see a formation of a triangle, and if ethereum leaves it in the direction to a long-term uptrend, this may mean the beginning of a new bullish market (at least medium-term).

Daily Scenarios

1. Bullish

The main task for buyers is the quotes return to the high-volume area ($440 – 483). To do this, it’s necessary to leave the $440 level and fix in the $447 – 453 range. In the future, this level will provide a good background for attacking the upper border of the triangle. But don’t forget about the possible night-time rise to the $466 – 470 area.

2. Neutral

Neutral scenario proposes a consolidation in the current area ($433 – 440) with a possible attack at $445.

3. Bearish

Bears may meet a test of $440, a rollback to $433 and then a decline to $426.

Dash

The overnight rise seems to be represent an avalanche-like closure of short positions. Buyers have moved dash (DASH/USD) to a downward trend, which acted as a barrier for any further growth.

Daily Scenarios

1. Bullish

Bullish scenario demonstrates the $219 – 222 area as a supporting point, from where an attack on $235 can begin.

2. Neutral

It’s possible to wait for a decrease to $219 and a subsequent consolidation in the $219 – 224 area.

3. Bearish

Bearish scenario provides a decrease to $213.

Trading 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

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