4 July 2018

Overview of the cryptocurrency market. The beginning of corrective movement

The BTC didn't hold at $6 600, bears lowered it to lower values. The main cryptocurrency fell in price by 2,3%, the cost - $6 461. Large altcoins also could not resist and headed down after BTC. Capitalization of the digital market has not changed significantly since yesterday, as is the index of domination of digital gold.

Recently there has been a trend of disappointment in the altcoins. Coins don't withstand a drop like BTC does. Daily volumes on them are strikingly different and do not significantly affect on cryptocurrency market. But at the same time, their growth in most cases is stronger than the main cryptocurrency. Therefore, an ideal trading portfolio should minimize costs in a downward movement and maximize profitability with an ascending one.

On the daily chart of BTC/USD, the asset price started moving down. Technical indicators «cloud of Ishimoku» and StochRSI demonstrate the continuation of the downward movement. There are no signals to buy other indicators. The first important support will $6 329, worth watching. Exit below this value gives you the opportunity to touch the critical level of $6 000.

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