What happened in the cryptocurrency world over the past 24 hours.
On Wednesday, the situation in the cryptocurrency market developed mainly according to a bullish scenario. Ethereum exceeded the goals of the scenario but bitcoin was slightly weaker. Dash demonstrated neutral dynamics.
Continuing Wednesday’s behavior, a possible end of bearish trend is on the cards.
Bitcoin
Bitcoin (Bitcoin: BITCOIN) failed to fix near in the control price of high-volume area ($6,442) and only partially fulfilled the goals of the bullish scenario.
The outlook indicates the possibility for some growth in the coming days. Short positions are placed at the maximum marks (traders hope for the puncture of the lower border and a subsequent drop). In the past, such a high short interest coincided with medium-term growth. In our case the likely target for buyers is the $7,000 - 7,200 area.
Time lapse: on September 13, 2017 bitcoin price fixed at $3,946.
Daily Scenario
BTC chart by TradingView
Bulls haven’t yet managed to fix above the control price of $6,442. Its short-term tests indicate a probability of a slight decrease (at least to $6,337) before further attempts at growth. Main goal today is $6,534, and the global one is the the upper border of the high-volume area ($6,598).
Ethereum
Ethereum (BITFINEX: ETH/USD.BITFINEX) fulfilled more than the goals of the bullish scenario predicted and returned to the high-volume area. Bulls now need to develop their success and fix around the control price and test the $209 level.
Time lapse: on September 13, 2017 ethereum deeply dropped and stopped at $276,21.
Daily Scenario
ETH chart by TradingView
Today bulls are encouraged to return the cryptocurrency to the level above $196 and to test the upper border of the $209 area.
Dash
On Wednesday dash (EXANTE: DASH.EXANTE) followed a neutral scenario. The attack on has $170 choked, but the cryptocurrency failed to fix above $190 level.
Time lapse: on September 13, 2017 dash was decreasing and fixed at $301,7.
Daily Scenario
DASH chart by TradingView
After a failed attack at $170, bulls need to develop their success and move into $190-195 area. It will serve as the basis for the test of the maximum marks from September, 10-11.
Aside from bitcoin, ethereum and dash, there are several other interesting digital currencies worth taking a closer look at. The losers and winners of the past 24 hours are: Dragon Coins with 78,78% growth and Project Coin with 65,75% decrease. Keep an eye on cryptocurrencies, study them and use our quotes page to keep up to date.
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.