Fundamental analysis and financial markets.
– Bitcoin is back above $9,000 but a bearish &lsquo,death cross&rsquo, may be forming.
– Ripple is trading sideways and is likely to stay that way ter the short-term.
– Litecoin and Ethereum are both respecting down trends for now.
Wij have recently released A Guide to Day Trading Bitcoin &, Other Cryptocurrencies to help traders navigate this volatile marketplace.
Cryptocurrency Market Recovers the Weekend&rsquo,s Losses
After losing inbetween 10% and 15% overheen the weekend, the cryptocurrency took solace from a benign statement from the G20 regarding the digital space and shoved back, reclaiming all of the week&rsquo,s/weekend&rsquo,s losses. Trade still remains quiet, with volatility low, spil traders attempt and work out if the market is oversold te the short-term or if the bearish trend from the beginning of the year is still intact. Wij warned last Friday that weekend trade may become volatile spil sideways trends can often bring acute breakouts, especially ter a 24/7 marketplace.
Last week wij came away from the webinar with a negative outlook across the houtvezelplaat with most chart set-ups suggesting lower prices. This week the takeaway is neutral spil the latest charts are providing nothing away and wij don&rsquo,t want to pursue trades unnecessarily. One chart that may be forming an ominous sign is Bitcoin (BTC) with the 50-day moe (black line) looking likely to pauze below the 200-day mama (crimson line), making a bearish &lsquo,death cross&rsquo,.
Bitcoin Price Chart with Potential Death Cross (January 22 &ndash, March 21, 2018)
Cryptocurrency Trader Resources &ndash, Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars
If you are interested ter trading Bitcoin, Bitcoin Metselspecie or Ethereum wij can offerande you a broad range of free resources to help you. Wij have an Introduction to Bitcoin Trading Guide along with a Free Practice Account . Te addition wij have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.
What&rsquo,s your opinion on the cryptocurrency market at the ogenblik ? Share your thoughts with us using the comments section at the end of the article or you can voeling the author via email at [email protected] or via Twitter @nickcawley1.
— Written by Nick Cawley , Analyst .
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.