Premium Technical Analysis Cryptocurrency Market Giants War One
By Rubika Ventures on The Capital
We Lost The Battle But Not The War
In recent days at Rubika Ventures, we have lost the battle for the futures market due to the little exact knowledge of the market direction. This last week we really prefer to lose that battle but keep our strength for the next war where we have a lot of faith that we will be great victors.
To compensate for that loss we have brought you a series of articles where we explain the real market situation in relation to the most important assets of the top 10 without Bitcoin. For this time we will treat you in the technical analysis for the daily chart of Ethereum, Ripple and Bitcoin Cash.
Father Of Decentralization
Ethereum in the daily chart for the dollar market is currently positioned around $144 with strong support at $136 targeted by the EMAs (9.21) and with strong resistance by the EMA50 and 78% of the retraction line Fibonacci.
Making a count of Elliot waves we conclude that it is following the waves of Bitcoin and that is why it now resists to perform wave 5. We wish luck to the father of decentralization.
The Baby Who Was Once Hated
Ripple in the daily chart for the dollar market, after having made a considerable accumulation between approximately $0.1822 and $0.1964, is now positioned around $0.20978 and with important support at $ 0.02034 pointed by the EMAs (9,21) and with a strong resistance targeted by the EMA50 at approximately $0.21451.
Performing an Elliot wave citation of the last movement we find that the price is currently performing a B wave. In the case that the price does not break the resistance indicated by the EMA50, we could have start of the C wave. Basically, the baby who was once hated doesn't show signs of strength and high volume.
Almost A Cheap Copy
Bitcoin Cash has been one of the biggest bullish behavior assets in recent days. For the dollar market, the daily chart can see that now the price tries to stay between $231 and $257. For the first value, it is an important support pointed out by the EMAs (100,9) and for the last value and very close to $261, the EMA200 behaves as a very strong resistance. Another important support is being targeted by the EMAs (50,21) very close to $220.
With the formation of a possible wave 3, we were able to break the 68% line of the Fibonacci retraction and also the breakdown of the Ichimoku cloud cumulus that came in direction for buyers or bears.
For the next few days, if the price for what we consider an almost cheap copy of Bitcoin loses strength, a correction simulated by a possible wave 4 will be noticeable.
Last Results — December 2019
We have compiled all the results for the month of December 2019!
Congratulations to all members👏🏻.
Total Profit: 1118% — Total Radio: 50.82% — Stop Loss: -332%
Number Of Winners: 12 — Number Of Loss: 8 — Total Signals: 20
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Remember, investment in cryptocurrencies or other assets has a moderate risk, so it is important to have a detailed study of the possible scenarios before placing your money at risk.