Whether the increase cryptocurrency? technical analysis course for July 2-6, and forecasts

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Cryptocurrencies try to resist bearish trend and gradually win back the position. The weekly digital assets of the top five increased by 5-12%. Experts give cautious forecasts.

Rate analysis of the five leaders:

Bitcoin. The main support cryptocurrency is located at the level of $6416 $6271. Until the asset is trading above it, further growth is not excluded. Strong resistance is at the level of $6700 and $6780, but buying activity decreases. Adjusts its forecasts and Whether. Previously, he said that by the end of the year bitcoin will be worth $25 000, in an interview with CNBC Whether already lowered the bar to $20,000. As arguments, the analyst led: high volatility (after a sharp fall at the beginning of the year bitcoin has always risen 200-300%) and the fact that now the asset is trading below the cost of mining. During the week the price of the asset is increased by 10%.

Ethereum. Resistance is at the level of $480-485. Cryptocurrency failed, trying to break this mark, and again fell back to the nearest support line of $450. Emerges on the chart the upward channel, and if rising air continues, he will be able to overcome the bearish trend and move on. For a week the value of the asset grew by 11%.

Ripple. Break of the $0,48 (20-day moving average) could bring the cryptocurrency to the level of $0,5-0,56. While the asset is testing the resistance line without much enthusiasm. Support XRP is at the level of $0.42 and $0,44. 7 days digital asset increased by 5%.

Bitcoin Cash. The main line of resistance is at the level of $750 and $780, but the cryptocurrency couldn’t break through and went into rollback. Support Bitcoin Cash received at the level of $720 and $711. During the week the asset was able to add 9% of the cost, but buying activity was not sufficient for a breakthrough.

EOS. Despite the problems that arose after network launch, the price of the asset continues to grow. For the week the single currency has managed to add 16%, the volatility is now insignificant. EOS is trading at the level of$8.6, the nearest support is around $8,3.

The total market capitalization of crypto-currencies is $285 billion. While all indicators point to the continuation of the bearish trend. For intensive growth of the assets needed positive news, and investor activity – they still took expectant position.

Previously on this topic in the news:

26.06.2018: Why fall cryptocurrency? – 5 reasons

Last year the digital asset has grown by leaps and bounds. During the year the capitalization of the cryptocurrency rose from $17.7 billion to $613 billion, a growth of 3300%! In 2018, the virtual currency fell to a minimum, and there are 5 reasons.

5 reasons for the fall of cryptocurrency:

  • Technologies are not yet popular. The most important technology in the cryptocurrency is the blockchain, a decentralized block chain, which is responsible for processing, conducting monetary transactions and saving data. Blockchain technology can be implemented in the field of transportation, medicine, Finance, logistics, but experts do not hurry. While businesses and organizations are not willing to use unproven technology that has not demonstrated the ability to scale. News of intentions go out every day, but real examples yet.
  • Cryptocurrencies have no purpose. There is no catalyst, or the need for investors to switch to digital currency. That is Fiat money and traditional translations in the foreseeable future will dominate. Take the bitcoin. Most often it is bought in exchange for other digital assets and quick profits, but not in order to use in real life. Without the expressed usefulness of the cryptocurrencies are unlikely to be popular.
  • A hacker attack. Breaking the Bank is unlikely to collapse the price of gold or currencies with cryptocurrencies it is not so simple. According to the analysis of Carbon Black just for 5 months was stolen cryptocurrency worth more than $1 billion. This is followed by important consequences: firstly, it is an indication that the blockchain and cryptocurrency is not as protected as the developers say, secondly, without additional precautions it is impossible to obtain the trust of retail investors and financiers on wall street.
  • The interdependence of cryptocurrency. Regardless of how many crypto currency is your portfolio most of the assets follows the movement of bitcoin. No traditional fundamental indicators that investors can use to assess asset. Long-term course of cryptocurrency to predict, no one can.
  • The disinterest of institutional investors. Most investors on wall street are sitting on the fence. They are not eager to invest in decentralized assets, because of the high risk of theft or fraud. Companies that have already reached the cryptocurrency market, actively manipulate the course and contribute to its further decline. Thus, in particular, occurred after the introduction of futures on bitcoin.
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    18.05.2018: Bitcoin is no longer popular! China has made a rating of TOP 10 cryptocurrencies

    China has published a ranking of the TOP 10 most popular cryptocurrencies. Digital assets were assessed according to 3 criteria: technology, innovation, application. The results are shocking: Bitcoin was not included even in the top ten.

    Considered 28 of cryptocurrency, the rating is as follows:

  • First place went to an Ethereum – he was awarded maximum scores in innovation and technology.
  • Steem – cryptocurrency social network Steemit to distribute content. The platform is characterized by high transaction speed and reliability.
  • Lisk. A decentralized platform for building applicationsbased Ethereum developers that left the project.
  • NEO. Competitor broadcast, also is a platform with smart contracts for decentralized applications.
  • Komodo. Digital currency combined quality and zcash for bitcoin. A high degree of protection through innovative protocols, secure payment system.
  • Stellar. The platform is designed to facilitate the exchange of Fiat currency and cryptocurrency, as well as payments.
  • Cardano. The blockchain is the platform for building smart contracts and decentralized applications.
  • IOTA. The platform to sell thingswith a high level of protection and its own cryptocurrency.
  • Monero. Currency with a high degree of anonymity, her “trick” – a ring signature by which it is almost impossible to trace transactions.
  • Stratis. A platform for building decentralized applications and implementing them in companies.
  • Ripple the Chinese are not appreciated – it is set in 17th place, Litecoin 21, Bitcoin Cash appropriated in 25th place. Closes rating token NEM. Bitcoin modestly housed in 13th place. For innovation, he was awarded the highest score, but the development of technology of “digital gold” has failed.

    Recall what your rating was and the U.S. Agency Weiss Ratings, in this bitcoin also received a low rating.

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    02.04.2018: 5 ways to make money in a bear market cryptocurrencies

    To capitalize on the bullish market can every trader, but bearish markets – more difficult to trade they will need some knowledge.

    Inexperienced traders believe that if the asset reaches the “bottom” should be patient and simply wait for the market pullback. But it’s not. If you are able to determine the trend of the market, it can earn.

    The shorter the time frame deals, the faster you can make a profit. For example, on platforms Okex and Bitmex offer futures and contractsfunded every 8 hours. There are other proposals on the cryptocurrency exchanges. Beware of futures altcoins, while bitcoin is the leader, and under it adjusts the entire cryptocurrency market.

  • Margin trading. With margin trading you can earn good money or lose all the savings. It’s the same futures, just raise the bet, you can an unlimited number of times. It is important to learn the basic principles of technical analysis: beginners can start with a look at RSI, moving averages, Fibonacci, indicators of the market.
  • Scalping markets. When the market is in a downtrend, profit from assets can be obtained even with small price fluctuations. Scalping is hard work, to close a deal when you achieve a small profit of few pips. 20-30 transactions per day – and you will find a good catch. However, this strategy is not without risk: no one can predict how the market is affected by news or new investments.
  • Search of new projects. In bear markets, we should not rush to trade. It is better to engage in research projects whose potential is underestimated and after the turn of the market tokens will cost you more. You should pay attention to the tokens that dropped in price by 70% or more from its record high. Traders impatient people, the price often drops tokens because of the fact that the platform is under development, and market participants are losing to the currency of interest.
  • Explore ICO. The primary offering of coins is a promising direction. Before you invest, you should study the technical documentation. Discuss upcoming transactions with more experienced traders, read the white paper and not invest all money in one project, no matter how interesting it may seem.
  • Look for alternatives. Crypto trade is not the only way of earning. You can get an analyst, developer, marketer profession is in the cryptocurrency area, and really intelligent professionals little.
  • Be aware of what is happening, don’t miss the news and analyze the market – even then bearish trend will bring you good profit!

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