Up and down, cryptocurrency trading without a direction
Up and down, cryptocurrency trading without a direction

Up and down, cryptocurrency trading without a direction

By Federico Izzi - 8 Jun 2018

Chevron down

Here is the cryptocurrency trading of today.

The day opens in red. Only Decred (DCR), in twenty-ninth place for capitalisation, opens with a +1.6%.

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Prices continue to rise and fall, alternating between green and red days, making it increasingly difficult to identify a prevailing trend.

The euphoria for the launch of the new Tron (TRX) and Eos (EOS) mainnets, which took place in the last few days and have attracted the attention of operators since April, has decreased, pushing monthly performances to triple their value.

While Tron celebrated in an atmosphere of total scepticism, with prices well below when the official announcement was made at the beginning of May, Eos over the last weekend started rising again, getting to recover over 30% in less than 24 hours.

Source: https://it.tradingview.com/symbols/EOSUSD/

The euphoria has softened as a result of some technical problems that are delaying the transition to the mainnet.

The forced freezing of EOS tokens could be a blow to investors who have shown great hope for the move to the new mainnet Eosio1.0 which has raised over $4 billion.

Technical problems need to be resolved in the next few hours, otherwise, exuberance will turn into tragedy.

Source: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

The 7800 dollar barrier cannot be broken through. The volumes bought on Wednesday awaken the bears that reject the break of the relative highs. A technically uncomfortable signal to see a decisive return of the bull. The 7500 area becomes important in the next few hours, otherwise, the new dreams of glory will have to be postponed.

Operating levels

UPWARD TREND: The eyes remain on 7800 dollars.

DOWNWARD TREND: Any break in support at $7,500 attracts a chance to see a return at $7,200. A delicate threshold, the penultimate bulwark before witnessing a defeat of the bull.

Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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