19.12.2017. Market Review. Results of the Day. The Power of Ether

December 19, 2017

19.12.2017. Market Review. Results of the Day. The Power of Ether

Changes (24h):

BTC 18,398.52 $ -0.6%
16 551 700 000 $
ETH 836.95 $ + 13.5%
4 489 410 000 $

Gainers (24h):

IOTA + 18%.

Ethereum + 13%.

Bitcoin Cash + 11%.

Market Review.

  • Co-founder of Bitcoin.com sold all his bitcoins.
  • South African Revenue Service is planning to tax cryptocurrency.
  • Bitcoin transaction fees have risen to $ 26.
  • South Korean regulator: Bitcoin is not a currency.
  • Lightning Bitcoin hard fork has happened on December 18.

Technical view.

Exit to the top from the triangle can be considered unsuccessful. Today Bitcoin failed to overcome the level of $ 19,600 and continued to slide down. Even an attempt to break through the support level of $ 18,000 was made on the afternoon. Although the attempt turned out to be unsuccessful, it still has all the chances to repeat tomorrow. Started on December 11 price increasing occurred on fairly flat and not growing with the price trading volumes. In case of a break of the support level of $ 18,000 and the growth of trading volumes, you can safely join the movement and earn on the fall. In the current situation a correction to the range of $ 13,000 to $ 14,000 seems entirely credible.

Unlike Bitcoin, Ethereum has more chances to continue its growth. However, after looking at trading volumes one should lower his optimism. Peak volumes were on December 12 and 13. Now the daily trading volume is almost half as much. Continuation of the growth with falling volumes does not seem plausible. The new range is 800 $-860 $. Yesterday's resistance level of $ 740 was overcomed quite easily. If the price goes below this level then a reversal of the growing trend would occur and only after that one can consider short positions. But for now we earn on the growth.


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