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Although Bitcoin (BTC) has managed to maintain its dominant position over the entire bear market, we find that some major crypto-currencies outperform it. This shows that the market has begun to favor some parts and to neglect others.
We believe that some crypto-currencies may collapse even before Bitcoin does. For this reason, it is necessary to be selective about the pieces if we want to profit from them.
When large investment firms and traditional stock markets prepare to take the plunge, this is an indication of the underlying demand. As a result, we expect more involvement from the most important players who have waited on the sidelines.
The bear market is a difficult time for investors in terms of price. But it is also a time when the fundamentals improve and end up pushing prices down.
We believe that since last year, the fundamentals of the cryptographic badet clbad have improved and it is only time that prices reflect this improvement. Each bull market has its leaders and we want to identify crypto-currencies that can lead upwards.
LTC / USD
The creator of Litecoin (LTC), Charlie Lee, wants to make the cryptocurrency more "fungible". He plans to add confidential transactions via a flexible range. The update should take place later this year.
The next halving of the Litecoin block awards is scheduled for early August. Crypto Analyst and Trader Moon Overlord tweeted that digital currency had reached its lowest level around 200 days before its halving in 2015, and that the rally that followed reached its peak about two years after the event.
If history repeats itself, the virtual currency could have reached its low point and maintain an upward trend for the next two years. Although this is an interesting observation, we believe that the current situation is very different from that of 2015, so it is unlikely that the events seen previously will happen again.
Ben Askren, a popular martial artist in the Ultimate Combat Championship (UFC), tweeted a video in favor of crypto-currencies and Litecoin, which should give him greater visibility.
After breaking down support at $ 47,246 in mid-November last year, the LTC / USD pair found support at $ 23,090. The bulls tried to raise the price, but had to sell close to $ 40.
If the overhead resistance area of $ 40 to $ 47,246 is increased, we are anticipating the start of a new uptrend. The longer the pair stays in a range, the greater the breakthrough will be. The goals to watch for upward are $ 65,561, and above $ 69,279.
However, if the digital currency denies one of the overhead resistance and plunges below $ 23,090, the downtrend will resume. We expect that the current action related to the beach will continue for a few more days before a decisive move up or down begins.
BNB / USD
Cryptography Exchange Binance has partnered with Simplex Payments Company to offer its customers the opportunity to purchase crypto-currencies with credit cards. The company finalized the sale of BitTorrent Tokens (BTT) in less than 15 minutes, reflecting strong underlying demand.
Can Binance Coin enter the top 10 crypto-currencies by market capitalization? Let's find out.
Our suggested purchase on a fence (UTC time slot) above the down channel has not triggered. The 20-week EMA just above the channel, we recommend traders to wait for a close above the EMA at 20 weeks before entering long positions .
An escape and a closing above the descending channel confirms a change of trend. After the break, the BNB / USD pair may start a new uptrend or enter consolidation. In the case of an uptrend, it can rise to $ 12 and up to $ 15. However, if a consolidation ensues, we expect it to stay above 5 46666 dollars.
Conversely, if the bearers return the price in the channel, this will indicate a weakness and a new test of the minimum at $ 4,1723848 will be likely. Therefore, we propose a $ 5 stop loss after the initiation of long positions.
XRP / USD
Ripple (XRP) has seen a wave of moves this week due to various news and rumors. SWIFT, a leading global payments network, has announced plans to launch a concept validation gateway in partnership with blockchain software company R3.
This rumor has made the machine rumble, some speculating that this could eventually lead to a sort of rapprochement between Ripple and SWIFT. This caused a sharp rise in the price of XRP, which did not last long.
Japanese finance giant SBI Holdings has also recognized Ripple's potential for international transfers. Is it time to buy cryptocurrency? Let's badyze the graph.
The XRP / USD has been trading in the downstream channel since late September of last year. The bulls are trying to defend the support at $ 0.27795. The two moving averages are down and the RSI is in the negative zone, which shows that bears have the upper hand.
If the price goes down and falls below $ 0.27795, it can fall to the annual low of $ 0.24508. A break below the annual low will resume the downtrend.
However, if rises push the price above US $ 0.45097, we expect a double-bottom formation that will have a target of US $ 0.62399. Above this level, a move to $ 0.7644 is likely.
BTC / USD
The current bear market of Bitcoin (BTC) has become the longest in its stock market history, exceeding the 2013-2015 bearish phase. The approval of a Bitcoin Exchange Traded Fund is an event likely to alter the market price of the bear market.
Just days after removing its Bitcoin ETF application, the Chicago Board Options Exchange (CBOE), as well as investment firm VanEck and financial services firm SolidX, re-submitted the application to the Securities and Exchange Commission (SEC) of the United States.
The pair BTC / USD have been trading for three weeks in small intraweek beaches. This shows a balance between buyers and sellers. After this period of low volatility, we expect an increase in activity in the coming weeks.
Both moving averages are sloping and the RSI is in negative territory, indicating that bears are in control. If bears reaffirm their supremacy and drop the pair below $ 3,236.09, the downward trend will resume. The downside targets are $ 3,000, which is psychological support, and $ 2,600 below.
Conversely, if the range extends upward and out of the downtrend line, a move at $ 4,255 and above at $ 4,914.11 is likely. After crossing this level, the rally can reach $ 5,900, which will be a major resistance.
TRX / USD
After a strong month, Tron (TRX) takes a break. What does the map provide for?
The TRX / USD pair triggered our buy recommendation when closing (UTC time interval) above the top of the range last week. However, contrary to our badysis, bulls could not raise the price.
The pair quickly gave up its gains and fell back into the range. If prices rise above the previous week's range to $ 0.03128011, we can expect a recovery of $ 0.04. If this level is also exceeded, the increase could continue to $ 0.05218328.
On the other hand, if bearish currencies lowered the digital currency below US $ 0.02352523, a decline in support of the range of US $ 0.0183 would be likely. Therefore, we suggest traders to maintain their stop loss at 0.021 USD.
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