Report on the main #crypts we are following right now.
In the world of cryptocurrencies it is well known that the bitcoin often pulls down the price of other Coin, and at this moment the Bitcoin trend is particularly uncertain.
Image 1 : tradingview – 2018-21-05 – timeframe 1 turn – trend btc / usd
As you can see in image 1 the purple wedge acts as a resistance to prices bringing them down. Even the smallest wedge, in red, which broke upward in these groups, does not seem to be able to get the bullish trend back on track.
Even among the altcoin the trend is almost all red and the exchange volumes in the last 24h are low as can be seen in image 2 regarding binance:
Image 2: binance – btc market ordered for volumes in 24h
It can be noted that the coins above the 5k volume in the 24h are only four.
The ETH, which a few days ago seemed to have taken off, has also joined an uncertain phase of lateralization as can be seen in image 3 :
Image 3 : tradingview – 1 day timeframe – eth / eur
In this phase of the market the best option can be to stay IN for those already inside, hoping for a lift. However it would be prudent to insert the appropriate stoploss.
We at Cryptograph have preferred to disinvest part of the capital, that is all that invested in BTC, taking advantage of the last rise. Instead, we remained flat on #LOOM, hoping that the volatility of this currency will give a good gain in the future.
Looking at the #LOOM daily chart there seems to be a pattern of 2/3 red candles followed by a large green candle. Will the pattern be repeated today?
In image 1 we can see the price chart of #LOOM:
Picture 1 – tradingview – 2018-05-12 – 1 day timeframe – LOOM green candle.
We can see how in the past days, as a result of some red candles, a green candle has always been formed that recovers all the losses. Even today, this green candle seems to be forming on the daily price chart.
Being this currency listed very recently on Binance, we do not have enough data to consider CSR or anything else. We can therefore limit ourselves only to take a suggestion from the progress of the previous days.
A possible help could come from the context: the bitcoin is going down so investors could spill over the altcoins.
The suggestion is therefore to pay attention and, if you decide to enter, insert the appropriate stop loss.
#LOOM is a new Crypto that was listed on Binance yesterday (2/05/2018) whose price is immediately rising. Will it be a new discovery like #EOS and #ONT?
The price, starting from 0.00005101 Btc is today at about 0.00005450 as you can see in image 1 :
Image 1 : Tradingview – 03-05-2018 – timeframe 1h – Loom / btc on binance
The interest has been triggered by the fact that many crypts, just listed on binance, suffer a substantial depreciation, as opposed to #LOOm which is even uphill.
It is still too early to be able to do a real technical analysis, moreover the price is still very variable. It could however be interesting to follow it closely and possibly invest a small amount.