Total market capitalization is steadily recovering. The growth path of running, so for most assets, the priority should be given to long positions. Over the last 7 trading days of losses among the leading cryptocurrency observed in the following assets: TRON -16%, Ethereum -0,5%. Everyone else in the black.
Since the beginning of the trading day all leading ten cryptocurrency trading plus from 0.8% to 10.3%.
Start shopping from $7000 there. Trend 5 may broken up. Optimistic dynamics. Based on the technical pattern is already open long positions near the level of $7,000 and higher costs to keep open, tightening the limitation of damages for remedial supports and set new goals for profit.
After the break-up of $7700 increase to $8071.
The second scenario for today: correction down from $7700 to the trend from may 29. The last three hours of growth is not enough to continue growth. Because we will work on breakdown/breakout from $7700.
The goal to $600 almost implemented, but the activity is so sluggish that you leave buy and on to the level of $640 is not desirable. For Ethereum propose to focus on the fact, when the price will approach tendencies may 6 – will be formed hang down (enough to see the suspension of growth on one-hour candles) – you can try a short position with a stop loss at the high of the day. If there will be a breakdown of the top trends from may 6, the price of H1 and H4 will be fixed above level of $615, you can talk about the idea of increasing purchases of asset in the portfolio of cryptocurrencies.
The idea is that we need high-quality entry point into the market. Now, at the current price, no definite decision whether or not to open new positions up, and continue the growth of the day. Just to keep open a deal and get a drawdown (as an option) – not worth it. It is better to “negotiability” than to fix the damage.
Our goal from 31 may be implemented. Congratulations on the profit. However, if You commit a profit of $12,860, now the positive dynamics of the Deposit even more. Where was the suspension? “Magically” near the resistance line of the rising trend channel from may 25. The breakdown of local maximum, High today purchase the actual $14,1186.
As the hang down from $13,4500 sale of possible to $12,860. What was resistance has become support.
However, the second option, sales, is less preferred because it started the trajectory of recovery of cryptocurrencies, and therefore priority should be given to purchases.
So far, the situation does not change. To build up the portfolio zcash for waiting for a break-up of the range of $250-260. Before this is not a tradable asset. If the resistance of $260 will resist the downward correction can be 37-39%, to $160.
So far, the quotations met with the resistance line of descending trend since April 24. Save conservative tactics: the purchase will begin to open after the break-up of $170.
Maria Salnikova, an independent currency strategist, especially for CoinSpot
My channel for traders with trading signals in real time: http://clc.la/mariacoinspot
The review reflects the subjective position of the analyst Coinspot subject to personal trading style. Trading operations with cryptocurrency are increased risks due to the nature of the market. The editorial Board does not bear ответствbенности for your trading decisions and recommends trading only to those funds, the loss of which will not be critical.