Crypto movement: a truce between bears and bulls
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Crypto movement: a truce between bears and bulls

By Federico Izzi - 24 Aug 2018

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Crypto movement: the day passes with a clear prevalence of green signs that should not, however, distract from the underlying trend, which continues to remain weak.

Going through the list of the top 50 cryptocurrencies in the ranking, only four are in negative territory.

Bitcoin Diamond (BCD) scores a 5% drop from yesterday’s highs as it took a small step back after the rally of the past 24 hours.

The others in red are RChain (RHOC) which loses more than 6%, Decred (DCR) and Populous (PPT) which drop 3%.

The best three of the day are Tron (TRX) which rises above 5%, Nem (XEM) and Neo (NEO) both with rises just above 4%.

The total capitalization is just over 210 billion dollars and the 53% market share of Bitcoin remains unchanged.

The general sentiment of the operators tries to react: after having reached the fourth lowest level since the beginning of the year (16) on 14 August, try to go back over 20.

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

Bitcoin (BTC)

The situation was almost unchanged in the last 24 hours with prices slowly trying to return close to 6600 dollars.

The first important technical level that coincides with the dynamic resistance of the trendline started from the relative highs at the end of July.

A return below $6200 could push short selling to new records.

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

Ethereum (ETH)

The 270 area has been the centre of gravity of the oscillations for more than a week. Nothing to add to what was written yesterday.

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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