Date: 5 months ago   Category: Economy

The analysis of cryptocurrency pairs of BTC/USD, ETH/USD, XRP/USD on 9/11/2018

Consolidation of the market in the narrow range comes to an end. Today the bear impulse is possible.

Consolidation of the market in the narrow range comes to an end. Today the bear impulse

is possible Consolidation of the price of BTC in the narrow green channel has dragged on for the whole day yesterday. Couple gradually narrowed the range of consolidation and tonight has tried to check the upper bound of a pennant for durability. Stokhastik on an eight-hour time frame is in a perekuplennost zone. The signal on decrease only has begun to be formed, but isn't created yet. It is possible to assume that an exit from consolidation will be according to our yesterday's forecast: the price of BTC will punch support of 6090.00 USD and will establish a minimum below a psychological mark six thousand dollars.

From fundamental events which, in our opinion, have almost not influenced the market it is possible to note the decision of SEC on suspension of the ETN tools on Bitcoin and Ethereum. These are the exchange notes imitated by the Swiss office of CoinShares Holdings (UK) which were called certificates without individual share. The ban reason - avoidance of confusion between ETN (Echange Traded Notes) and ETF (Echange Traded Fund) which arises among participants of the market.


Ethereum Price didn't leave consolidation yesterday. Range of consolidation was narrowed along the line in the field of 193.00 USD. At this price there have taken place large volumes of the auctions significantly exceeding average value. We believe that an exit from consolidation will proceed reduction of price of Ethereum to the level of 180.00 USD.


Ripple has continued consolidation in a bokovika yesterday. Having updated a minimum of last week to a mark of 0.259 USD, the price was restored to the area of 0.270 USD. Today updating of the annual minimum recorded last month on a mark of 0.245 USD is quite probable.

* All values of the prices are given proceeding from data of the BitStamp exchange.



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