Many traders waiting for confirmation signals to open positions remained on the sidelines as simply too “exhausted” to the purchase, struggling with their fears. The best time to buy is behind us – is testing a Bitcoin price above $11000. The lack of a strong bullish momentum a little alarming but steady rate, which demonstrated the most coins during the correction last week, hints at a best-case scenario. In today’s trading Monero and Bitcoin looked like a leader among the coins and Ethereum Classic showed the descent.
Bitcoin touched $ 11500, rebounding from the level of $11300 on the daily chart, the obvious pattern – inverted head and shoulders. Now, however, there is a check on the stability of the exchange rate to the chosen height. It would be nice if Bitcoin survived this fight. If there is a rollback, it is still possible to rely on strong support at levels of $10000 and $10500, $9000 and $9200. The $13000 is the next target in case of continuation of the uptrend.
Monero has tested the level of $375, then price fell back to around $350, while the March to $400 should not be discounted. Though many traders can already lock in some profit.
Ethereum trades occur in the apparent struggle, the price movement on the way of fracture the current downward trend is facing a very strong resistance level of$ 900, in the future will probably see consolidation. The situation is similar with IOTA – the price is moving sideways.
A pair of ETH/USD
Litecoin and Dash showed also some positive developments in price. In the top ten list of coins you can see the Ripple, Stellar and Cardano.
The only thing that gives vent to the fears at the present time, it is a small volume of trades that make traders to guess the choice of the position to become long or short. Currently, there is a risk to make mistakes, because the downward movement from the key levels with the same probability as possible and return to him.