What happened with bitcoin, ethereum and dash rates over the past 24 hours.
Bitcoin (Bitcoin) continues its growth. Ten days ago, $8,225 level seemed unrealistic, almost a dream. Yesterday bitcoin covered that level and almost didn’t stay there. Today the most famous cryptocurrency has launched an attack in the $8,600 direction - now this level is the main goal for bulls. Then it's possible to move on to $8,880.
Currently, the market is completely controlled by players of a higher temporal order, so it’s only logical to expect continuation of growth. Today, at least one more attack is likely towards the $8,600 direction, while we can witness some consolidation in the $8,225 area.
Neutral scenario involves a consolidation in high-volume area ($8,120 – 8,430). The market deserves a short pause.
Taking into account a weak market structure (bitcoin has pumped and the trading volume in the $7,800 – 8,100 area was very small), the nearest probable support is in the $7,930 area. If buyers are not activated here, it’s possible to see a reduction to $7,700.
Over the past 24 hours, ethereum (ETH/USD) has tested the border of the high-volume area ($483) three times. Its breakthrough seems inevitable. The question is whether the cryptocurrency will try to pass the resistance or will save the energy in the $474 area. The second option seems stronger and preferable.
The main goal for buyers in this scenario is $497 - opened control price of the past Wednesday (July 18). Then it was the level where the fall began.
Neutral scenario proposes fluctuations within $466 – 483 area.
Bearish scenario provides a decrease into the $466 area with the subsequent test in the $452 direction.
Whole previous day dash (DASH/USD) spent in the $247 – 256 area. This behavior is somewhat troubling because of the rapid growth of bitcoin. Today’s scenarios haven’t changed much.
The main task for buyers is an attack at $260. If it’s successful, a test of $267 will be possible.
Neutral scenario foresees a further consolidation in the $247 – 256 range.
Bearish scenario remains the same: a decrease to $226 with the subsequent test of the upper border of the wedge ($220).
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.