Bitcoin (BTC), Ethereum (ETH), Alt-Coins –

Bitcoin (BTC), Ethereum (ETH), Alt-Coins – fr

Analysis and Charts of Bitcoin (BTC / USD), Ethereum (ETH / USD) and Alt-Coin:

  • Bitcoin (BTC / USD), Ethereum (ETH / USD) find it difficult to break higher.
  • Lower volume over the weekend can trigger a volatility breakout.

The cryptocurrency market is in retreat ahead of a long weekend in a multitude of countries, including the UK and US, and with volatility levels still high, price movements over the next few years. days cannot be ruled out. The current market cap is around $ 1.6 trillion and is at nearly 40% of its all-time high, pointing out that the recent heavy losses have not been greatly reduced. Traders should be aware that low volume, high volatility markets are ripe for big swings, and with sentiment in the cryptocurrency market still declining, further losses cannot be ruled out.

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Bitcoin continues to struggle and any rally will need to overcome the current 200 day simple moving averagement BTC / USD ceiling. Bitcoin has not been below 200-dsma for over a year, so the recent outage remains a concern. The 200-day sma is currently around $ 40,700. Volatility levels are outside their recent extremes, but remain high at $ 4,650 from a spot price of $ 37,000

Bitcoin (BTC), Ethereum (ETH), Alt-Coins – Recovery remains fragile, volatility stuck at extremes

Bitcoin Daily Price Chart (BTC / USD)

The Ethereum chart looks a little more positive than Bitcoins and highlights the positive performance of the ETH / BTC spread this year. ETH remains well above its 200-day sma, although the recent slide below 50-dsma is a near-term negative. If that can be recovered, then $ 3,000 should be met fairly quickly. Again, volatility is high at $ 443 against a spot price of $ 2,600.

Ethereum Daily Price Chart (ETH / USD)

The alt-coin market remains depressed with any upward movement sold off. It looks like the hot money crowd has moved away from the aftermarket space and back into the memes stocks. AMC Entertainment more than doubled in the past week, alongside massive options volume, while another memes favorite, GameStop, has grown by almost 50%. It will need Bitcoin, and increasingly Ethereum, to stabilize and then move forward to bring the Quick Silver Crown back into the alt-coin space.

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What are your views on Bitcoin (BTC),Ethereum (ETH) – bullish or bearish ?? You can let us know via the form at the end of this article or you can contact the author via Twitter @nickcawley1.


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