What happened in the cryptocurrency world over the past 24 hours.
Thursday was a lucky day for bulls, whom completely took over our main cryptocurrencies - bitcoin, ethereum and dash.
Yesterday bitcoin (Bitcoin) behaved according to the bullish scenario, where buyers increased pressure on the $6,800 level.
Time-lapse: on September 28, 2017, bitcoin made a blystering leap and landed at $4,226.
BTC chart by TradingView
Today the basic goal of bulls is the maximum mark of September, 22. Before the weekend further attempts of growth seem unlikely (recently weekends in the cryptocurrency markets were very calm). However, the situation in the market is changing by the hour. The buyers' goals is $6,920, the level of lower-volume, and the control price of $7,049. Further growth is questionable due to resistance of the upper border of the triangle.
A test of $7,049 is quite real - it may help to ‘punish’ sellers and reduce the number of short positions. After this we can see a rapid attack at the minimum marks.
Ethereum (ETH/USD) remains in the high-volume area and looks slightly weaker than bitcoin. It’s worth noting that the control price of Monday - $234 (the beginning of previous drop) came out as resistance. This suggests that sellers are still active and intend to defend their positions.
Time-lapse: on September 28, 2017, ethereum price began increasing and fixed at $304.84.
ETH chart by TradingView
For bears everything is obvious: a return to the center of the high-volume area with a test of minimum marks of Tuesday and lower border. Currently three control prices - $210, $216 and $219 actively compete in this area.
Yesterday bulls fulfilled the basic goal of the scenario - they tested the $195 - 197 range and simultaneously pushed dash (DASH/USD) away from the support level of $180.
Time-lapse: on September 28, 2017 dash floated, stopping at $343,15.
DASH chart by TradingView
Today a slight decrease to $187 and an attack with a transition to the $200 - 210 area are possible. The global goal is to test the maximum mark at $225.
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: Mindexcoin (that yesterday was loser winner) with 341,52% growth, and Karatgold Coin with 32,96% 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.