Bitcoin, Ripple and IOTA

in cryptocurrencies •  7 years ago  (edited)

 XRP/USD in good position to move ahead first

 Ripple is approaching the vertex of the triangle that has been confining it since mid-December. There is no further room in the triangle, so it must make a decision on its next trend soon. However, the zone is tricky and potentially dangerous, since levels are next to each other and any slip could have important effects. Closing the term above $1.28 would imply a new technical framework and increase the upward profile. Below $1.20, a new downward scenario would force a profound revision of the next week price predictions. 

 MACD is slightly crossed up, just below 0. There is a lack of information right now due to the narrow price range in the past days.The Directional Movement Index shows a moderate upward trend, although still in low levels. Both the D+ and the D- are moving above the ADX, showing a slight advantage for sales. This is the main indicator to watch at this moment, since purchases have been increasing and, should they reach the sales level, bullish hopes would take advantage. 

Bitcoin, in the 61.8% Fibonacci arc baseline

 Bitcoin keeps developing a textbook retreat, right now just above a key technical level. It is supported by the $10,800 area, where the 61.8% Fibonacci arc level stands. Below that price, a new negative trend would appear, with dreadful projections in the short term. Above the Fibonacci baseline, it can move up to $13,500 in this same scenario. Only above this new level could we think about significant upside price movements. 

 MACD is showing a quite interesting pattern, with a very probable up-crossing in the next hours. Its standing below 0 matches a movement to the 50% retreatment level, where the money flow would decide.The Directional Movement Index shows sales levels clearly above the buys, with the D- below the ADX and losing momentum. However, buyers are not taking advantage of this scenario, being still reticent to enter the BTC/USD. 

IOTA following the trend, still with slight rises

 IOT/USD is moving right now at cents from the trendline it has been following since mid-January. The trend is at $2.32, a clear entry point with a swift exit should the price stop following it.

 MACD is moving at equilibrium, slightly crossed up. As in all cryptos, the low volatility decreases the quality of the analysis it provides.The Directional Movement Index is showing a slim advantage for the sales, although the purchases are close to them and any of them can be declared a winner. The ADX seems to be signaling a moderate price increase, but it is again not definitive. 

Find out more at : FX Street 

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