Analysis of the cryptocurrency market 14.09.2018
What’s going on with bitcoin, live and Dash in the last day.
- Michael Novogratz, CEO of the cryptocurrency Bank Galaxy Digital, said that the market for digital currencies to reach the bottom after 8-month bearish period.
- National commercial Bank of Saudi Arabia, one of the largest in the middle East, has joined the network RippleNet.
- Startup BitGo has received the status of a regulated cryptocurrency Depositary.
- According to the study TrustNodes, published 13 September in the last 10 days investors have invested in the ICO three times more air than the whole of August. In total investors spent to buy tokens more than 160 thousand ETH.
- Sonny Singh, BitPay commercial Director, in an interview with Bloomberg stated that altcoins “never come back”, while bitcoin will “grow” in 2019.
The results of the auction
On Thursday, the situation in the cryptocurrency market has evolved according to the bullish scenario. Bitcoin (Bitcoin) at this point have completed all the objectives of the plan, ether (ETH/USD) was stronger than the market, Dash (Dash/USD) is slightly behind.
Bitcoin is very close to the upper boundary of the consolidation area, 6-13 September. Now the most likely target is $6920, which began the second phase of the fall on 6 September.
In recent days the bulls had a very successful offensive. Now they need to overcome the upper boundary of the high-volume $6598. It will open road to $6920 $7049. The global challenge for the weekend is to gain a foothold in the region with KTS $7049 and test the upper border of $7173. It is worth noting that today bitcoin may prefer a neutral script with the consolidation of $6442, and the main growth will occur on Saturday night or Sunday periods, when the majority of traders do not follow the market.
The bears first need to return the bitcoin to CC of $6442. You can then develop the attack on the lows of 11-12 September ($6170-6200).
The neutral scenario assumes a consolidation in the range of $6370-6534.
Live the second day in a row exceeds the goals of the bullish scenario. The cryptocurrency included in the $212-238 and returned to the levels similar in structure to the current state of bitcoin (they stopped falling and 6 September).
Buyers need to overcome KTS $224 and to carry out consolidation in its neighborhood. Global goal for the weekend stands at $259.
Bears will attack $209. After breaking this level is likely to decline to the KC region $196 and its lower limit of $184.
Consolidation in the range of $212-224 with drift up to the reference price area.
Dash has fulfilled the primary target of the bullish scenario and entrenched above $188. Cryptocurrency is moving slowly towards the highs of September 10.
Today the primary task of the bulls is to test a range of $206-209. If the rest of the market, the situation will develop in the bullish scenario, the probable attack on the highs from early September ($223-227) and rise to $236+.
The sellers will attack the support at $170. After her breakthrough, and a small rebound from $160 probably decrease to local minima.
The neutral scenario for the weekend is quite narrow and therefore unlikely. It provides for fluctuations in the range of $188-200. A drop below $188 will be a potentially negative development, and Vice versa, the test is $205+ will indicate strength of bulls.
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