Bitcoin, IOTA, Ethereum Classic

Bitcoin (BTC)

Bitcoin (BTC) seems to be bouncing back after a week of losses. In the last 18-hours, it has hit highs of $3800. However, it seems to have slowed down and is now trading in a range between $3568 and $3498, albeit with minor spikes. Going by this setup, there is a high probability that Bitcoin (BTC) could be headed for a continuation of the bearish trend. That’s because, the last spike in price failed to push it above a key resistance level, the 200-day MA resistance point at $3828. This means that Bitcoin (BTC) could possibly break lower in the next 24-hours. To go short on Bitcoin (BTC), it would be best to wait for a break below the 48-hour low of $3275.  This would be an indicator that bears are back in control, and could possibly see it drop to $3000. That’s a psychological support level for Bitcoin (BTC), one that could possibly hold in the short-term.

However, in the scenario that Bitcoin (BTC) gains more upside momentum and pushes above $3828, it could possibly rise to $4000. That’s a psychological resistance level for Bitcoin (BTC) and a possible exit point from a short-term long position. If it breaks above this level, it could possibly rise to $4200 in the day.

IOTA (MIOTA)

In the last 72-hours, IOTA (MIOTA) has been trending upwards. In this period, it has pushed from a low of $0.204 to a high of $0.244. This bullish sentiment has seen it break above the 100-day resistance level at $0.234, an indicator that it could be headed higher. To trade in IOTA (MIOTA), it would be best to wait for a confirmation of the trend. To go long on IOTA (MIOTA), it would be best to wait for a break above the 200-day MA at $0.261. This would be confirmation that bulls are back in control. A long position at this level would have a good exit point at $0.30. That’s a psychological resistance level for IOTA (MIOTA) in the short-term and a possible reversal point in the day.

However, if IOTA (MIOTA) pulls back below the 100-day MA at $0.234 and extends below the 55-day MA at $0.227, it would be an indicator that bears are back in control. This would be a trigger to go short with a target of $0.204. That’s a 72-hour low and a possible exit point from a short-term short position.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been slightly bullish in the past 72-hours. In this period, it has pushed from a low of $3.30 to a high of $4.19. However, like Bitcoin (BTC), it has fallen short of breaking above the critical 200-day MA resistance level. This is an indicator that a correction could be imminent. To go short on Ethereum Classic (ETC), it would be best to wait for a break below the 24-hour low of $3.56. This would be a trigger to go short, with a target of $3.30. That’s a 72-hour low and a possible exit point from a short position.

However, if Ethereum Classic (ETC) pushes above the 200-day MA at $4.34, it would be a trigger to go long with a target of $5.36. That’s a 72-hour high and a possible exit point from a short-term long position.

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