In the last 24 hours the price of bitcoin has fallen by more than 5%, inevitably causing repercussions on the entire cryptocurrency sector.
At the moment there have been no rumors regarding any further regulations, in addition to those already occurring as in South Korea, also due to the fact that the prices of the BTC are showing greater stability and therefore there is not the usual volatility to involve the economists in the race to interviews on the radio and on the magazines.
ADA/BTC, Cardano Bitcoin
After the historical highs the pair Cardano Bitcoin is moving in a descending trend outlined by the descending trendline (purple line) repeatedly tested by prices. We also observe how the quotations are below all the exponential moving averages sign of strong weakness on the part of the cross. For the moment, the prices do not give reversal signals.
BCH/USD, Bitcoin Cash
Bitcoin Cash (BCH) at this moment on Fibonacci’s support and if this were broken, would open clearly bearish scenarios. So which targets could it reach?
The 200-period exponential moving average is acting as an excellent support by rejecting prices (blue arrows). If the prices break this downside we could see a downward acceleration of the exchange rate.
The resistances to be monitored are: 1,757 and subsequently 2,205 dollars, as regards the supports: 1,120 and 676 dollars. The moving average at 100 is downward-oriented, located in the $ 1,472 area.
For those wishing to buy Bitcoin Cash
Enter when the price breaks and closes above the Fibonacci level in the area of 1,757 dollars, with a stop loss at 1,120 take profit in the area of 2,205 and then 2,800 pains.
For those who currently hold Bitcoin Cash
Maintain the position since the price currently does not have the 78.6% Fibonacci level.
For those wishing to sell Bitcoin Cash
Possible short-term admissions only to the breaking of the static support in the 800 dollar area with a stop loss positioned at 1,200 and the first target in the 300 dollar area.