3 Cryptocurrencies that can give you tasty opportunities
Following the last events that sparked a major fall in Bitcoin and the other major Cryptos as well, we can see that opportunities are more probable now for the bears.
We can take this opportunity of the Bear bias to enhance our confidence to invest in the popular coins with some very tasty results.
If we take these opportunities now we may see some huge volatility but following the smart money we can take some correct and profitable decisions.
Bitcoin continued to fall on Wednesday, now the world’s largest digital coin tumbled to its lowest level since February.
Bitcoin lost more than 50% in 2018 and went, down from a record high of $19,511 it hit in December.
Kyle Samani, managing partner at Austin, Texas-based crypto hedge fund Multicoin Capital, said « I don’t think this is driven on any particular news, just the general downtrend after the 2017 run, »
« A lot of people who bought at $9,000 in April are realizing that they’re not going to break even anytime soon, and are instead trying to get out. »
Ethereum: fell 5.9% at $496.2 on the Bitfinex exchange.
Bitcoin: was at $6,553.4 around 12:00 AM on the Bitfinex exchange, went down about 4% over the last 24 hours.
Ripple’s token: slide down 5.4% to $0.55448 on the Poloniex exchange.
BTCUSD: Technical Analysis
If we examine the technical aspect of the Bitcoin based on the Ichimoku system we can clearly see that a new Kumo breakout signal is in a development.
A strong level of support could be considered in the combination of Tekan sen and Kijun sen lines with the 38.2% Fibonacci level that stopped the price to go further up.
Following that, the price broke through the thin cloud and it is trading lower.
Now before we start looking for any potential bearish signals we want to see the last element that a Kumo breakout signal could be considered valid and that is if the chikou span trades below the cloud as well.
ETHUSD : Technical Analysis
The Ethereum seem to be in bear mode also, here the price is below the cloud Tekan sen and Kijun sen lines are below the Kumo and seem to be in a bear formation. The Chikou span is below the price and Kumo. With that, we may confirm a Valid Kumo breakout.
Before we can spot any potential bearish signals we need to see the price bounce on the Kijun sen that is also a 38.2 Fibonacci Level.
Ripple’s token: Technical Analysis
A very similar picture here with the Ripple, price trades below Kumo cloud Tekan sen and Kijun sen seem to be in a bear formation and below Kumo cloud as well.
Chikou Span is below the price and cloud as well giving us the last element to consider a Valid Kumo breakout.
As well here we need the price to bounce on the Kijun Sen line to be able to consider a short signal valid.
These 3 coins are in line with the external factors that affect the Cryptos and those factors are clearly applied on the chart.
The bias seems short based on the external factors and the technical as well based on the Popular Japanese system Ichimoku Kinko Hyo.