Tuesday, October 19, 2021
HomeCryptocurrency NewsTrading ideas of June 3, 2018 - BTC, ETH, EOS, ZEC, XMR

Trading ideas of June 3, 2018 – BTC, ETH, EOS, ZEC, XMR

-

Since May 29, the total market capitalization has already grown by 15.2%. The growth trend is set. We keep the idea that for most assets priority should be given to long positions. For the last 7 trading days, only TRON had a loss of 14% among the leading ones. The rest in positive territory from 3.5% (ETH) to 33.5% (IOTA).

Since the beginning of the trading day, all top ten currencies have traded with a positive of 1% (BTC and IOTA) to 13.8% (EOS).

BTCUSD

For yesterday, the trades were moderately optimistic – there was no correction downwards, but the target of $ 8071 has not been realized yet. We will keep the technical picture unchanged from yesterday. Today for new positions on the purchase of Bitcoin it is worth getting a sure breakdown of $ 7730. There is no certainty that on Sunday, the last trading day of the week, the market will go on updating the high of the last seven trading days. However, if the upward movement begins to develop, we must be ready to react to the situation. The potential growth after the breakdown of the level of $ 7730 is 4.4%.

The entry point was shifted up by $ 30 due to the price behavior near the upper bound of the upward trend of May 29.

ETHUSD

Using the Gann Fan tool, the breakdown of local resistance (the trend since May 5) and the break-up of the level of $ 615 will be the reason for the asset price to rise to the level of $ 750. However, I draw your attention to the fact that this cannot be considered an unambiguous goal. No. We admit such a development of events and take into account potential strong levels and trend lines. That is, $ 750 is a potential point of profit-taking on purchases and the probability of correction down when growth begins.

And now the question is closer to the current situation: when to open the purchase, and to consider that growth continues? Pay attention to the layout below: near the level of $ 615 passes both the line of the downward trend and the line of the upward trend. This is where the permit should be. That is, it is more likely that after a breakdown of $ 615 for a while, we will observe consolidation (maybe during the day, maybe less) and after that, the resumption of growth. If, on the cryptocurrency, sellers are activated, then for Ethereum, the sales point will be $ 615.

EOSUSD

The situation develops nicely. For now, I suggest simply keeping the purchases open. For new positions: if you open at current prices 14.83-14.85, then stop below the 14.07 target to 15.65. The second option is to wait for the breakdown of the ceiling of 15.65-15.70, let the price be confidently fixed in this range and then top up the purchases.

ZECUSD

Don’t trade Zcash for now. To increase in the portfolio of Zcash, we are waiting for a breakdown of the range of $ 250-260. If the resistance is $ 260, the downward correction can stand at 37-39%, to the level of $ 160.

XMRUSD

The conditions for opening long positions for are sustained – there has been a breakdown of the trend since April 24 and a breakdown of the level of $ 170. However, when buying, consider the probability of the pair moving to a minimum of May. One can never be unambiguously confident that due to technical signals the movement will develop in a given direction without corrections and surprises.

Get The Latest Cryptocurrency News First - Join Us In Telegram

get connected

12,746FansLike
531FollowersFollow
1,690FollowersFollow
8,724FollowersFollow
1,823FollowersFollow

Recent Posts

Most Popular