Bitcoin, IOTA, Ethereum Classic

Bitcoin (BTC)

After a meticulous rise to $4383.5, Bitcoin (BTC) has eased up and has now tested a low of $4120.  This drop has seen it drop below the key 55-day MA at $4159. This is an indicator that bear power could be on the rise in this market.  To go short on Bitcoin (BTC), it would be best to wait for a break below the 100-day MA at $4125.  A short position at this level would see Bitcoin (BTC) possibly drop to $3894.6 on the 200-day MA. A break below this could see it possibly drop to $3758.5 on the 12-hour 100-day MA.

On the other hand, if Bitcoin (BTC) pushes above the day’s high of $4383.5, it would be an indicator that bulls are still in control. It would be a signal to go long with a target of $4586.7 on the 6-hour 200-day MA, and a possible exit point from Bitcoin (BTC) in the day.

IOTA (MIOTA)

After making gains for the better part of the week, IOTA (MIOTA) is correcting. It has hit a high of $0.398 before dropping to a low of $0.355. This is an indicator that bear power could be on the rise. However, to go short, it would be best to wait for a break below the 200-day MA at $0.334. This would be an indicator to go short with a target of $0.258. This is a key support level for IOTA (MIOTA) on the 100-day MA. A break below this could see IOTA (MIOTA) drop to $0.212.

However, if IOTA (MIOTA) pushes above the day’s high of $0.399, it would be an indicator to go long with a target of $0.431. This is a key resistance level for IOTA (MIOTA) on the 12-hour 200-day MA. A break above this could see IOTA (MIOTA) push to $0.653. This is a key resistance level on the day chart 200-day MA.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been on the rise for the past one week. In this period, it has hit a peak of $5.67 before rescinding. This correction has seen it drop below the 21-day MA at $5.31, an indicator that bears are in control of the market, and a signal that a short position would be most ideal. A short position at this level would have a good exit point at $4.92 on the 100-day MA. A break below this could see it possibly drop to $4.55. This is a key support level for Ethereum Classic (ETC) on the 200-day MA. If it breaches the 200-day support level, it would be a signal of a continuation of the year-long bear market.

On the other hand, if Ethereum Classic (ETC) pushes above the day’s high of $5.67, it would be an indicator that bulls are still in control of the market. Such a position would have a good exit point at $5.82. This is a key resistance point for Ethereum Classic (ETC) on the 6-hour 200-day MA. If it pushes above this, it could possibly rise to $8.07. This is a key resistance level for Ethereum Classic (ETC) on the 12-hour 200-day MA.

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