Trade cryptocurrency: Bitcoin recovers dominance
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Trade cryptocurrency: Bitcoin recovers dominance

By Federico Izzi - 28 Jun 2018

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Trade cryptocurrency: The market continues sideways after the lows of last weekend. 

Trade cryptocurrency: Bitcoin recovers dominance. Leggi qui l’articolo in Italiano

The morning flows without particular oscillations, well contextualized by the first three big cryptos that oscillate around the parity.

Expanding the vision to the first 30 capitalized, Ethereum Classic (ETC), Icon (ICX), Stellar Lumens (XLM) and Eos (EOS) emerge in positive, all just above 3% from yesterday morning’s levels.

The only red sign worthy of note is that of Dash (DASH) which loses just over 2%. Capitalisation remains below $250 billion with Bitcoin continuing to erode market share to close to 43% dominance, the highest level since mid-April.

Facebook continues to catalyze rumours that it has targeted the largest U.S. exchange, Coinbase.

It seems that the developments for the launch of a token, mentioned in a public statement by Mark Zuckerberg at the beginning of the year, are motivating the opportunity to find a reliable exchange that can support the enormous flow of requests in compliance with U.S. regulations.

At the moment, these are rumours which are not confirmed, but which are positive for the sector as a whole, in a very weak context.

Confirming this, crypto has recently reached its lowest point in the Google search engine searches since July 2017.

trade cryptocurrency
Search: https://it.tradingview.com/chart/BTCUSD/NHzgFP7Y/

Bitcoin (BTC)

In the last 30 hours, prices fluctuate within a channel of 200 dollars, about 2% volatility in 24 hours. After peaking volumes, among the highest in the last two months on Sunday, and failing to break above 6250 dollars, trading fell below the daily average of recent weeks.

All characteristics that express a waiting phase.

The stability of the support at $6,000, if confirmed also in the next 1-2 days, could give a first sign of consolidation.

trade cryptocurrency
Search: https://it.tradingview.com/chart/ETHUSD/6ILRF3Z5/

Ethereum (ETH)

Similar general context also with Ethereum.

Technically prices fluctuate close to Sunday’s lows showing in the short term a more marked weakness.

This is the reason why Ethereum lost about 1% of its market share from Friday levels.

The technical references to be followed are the lows of Sunday, in the 420 dollar area, and those at the beginning of April in the 370 dollar area.

While to evaluate a strong return it is necessary to wait for prices to go back over 500 dollars.  

Federico Izzi
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. Since May 2017 he is officially a Bigbit technical analyst. 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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