24 July 2018

Overview of the cryptocurrency market. Growth continues

BTC still has gunpowder in the flasks. The asset confidently rose another 3% for yesterday. The brother of the main cryptocurrency which calls BTC Cash also shows a slight increase. The rest of the coins show a fall. This is due to the fact that investors are selling the altcoins for BTC, trying to catch a momentary profit. The domination of digital gold has increased to 46,4% today. The total capitalization of cryptocurrency market is approaching the $292 billion mark.

This growth of the main cryptocurrency was confirmed by large volumes for the purchase. Sharp purchases started from the $7 600 zone, which means there is strong resistance at this point. Indicators of technical analysis are still allowed. For example, Awesome Oscillator is in the purchase zone, StochRSI does not say that the asset is overbought. The option of beginning the fall is less likely. The most likely event, which will reduce the price of BTC - the overflow into altcoins.

Today's Japanese candle is trying to pierce the cloud of Ichimoku. BTC has every chance of staying above the cloud today, and this is a good signal to buy. You can be more risky and buy BTC now, leaving a stop position just below the cloud boundary - $7 710,2. Another scenario is to wait for the confirmation of the Ichimoku cloud signal after the closure of today's candle. The second option is less risky, but it can give less profit.

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