13 July 2018

Overview of the cryptocurrency market. Time of holidays

The BTC continues its decline. There is a high probability of testing the side panels of support $5 999 and getting into the horizontal zone of trade $5 839 and $5 738. Indicators of technical analysis confirm a possible drop. For example, StochRSI moved to the overbought phase on the four-hour time line, the AO indicator dropped below zero. Also, the price of digital gold came from the Ichimoku cloud. This is a signal for sales. Top 3 cryptocurrencies show a slight decrease by some points.

The global downtrend has seriously hit the cryptocurrency market. Despite the alternation of the waves of growth and fall, the waves of incidence continue to last longer. In addition, the pulses are downward stronger than the pulses up. The period of prolonged consolidation will continue exactly until the end of the summer, as vacation seasons begin. Therefore, purchasing power in the autumn periods may increase. Large players will be interested in new investments, active advertising of digital assets will begin. It is worth noting that the news background is not negative, but they have little effect on the dynamics of the market.

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