Overview and prospects of the market 5.05.2018

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Overview and prospects of the market Crypto currency 5.05.2018 Overview and market prospects 5.05.2018 Crypto-currency

The outgoing week has become, in many ways, positive for holders of crypto-currency assets.

Despite the fact that many expect a possible drop in the market as part of the continuation of the long-term correction, the top-rate crypto currency rates continue to show excellent growth, this is especially true for EOS and BCH.

The Bitcoin course during the week demonstrated good growth dynamics, adding to its value 6,5%. This became possible after a rapid overcoming of marks in 9200, 9500 and 9700. Experts expect the growth to continue with the possible penetration of 10,000 and subsequent rollback. However, we should expect a trend back to expectations - bitcoin can successfully rise to 11,000 without deep corrections.

On Saturday morning, Bitcoin continued consolidation under the resistance level of 9900 $, overbought on MACD was significantly reduced, but continues to be very large. Bulls from a technical point of view now do not have the strength to continue growing, for this you need to continue flat, narrowing in an oblong triangle, accumulating volumes and finally eliminating overbought.

Analyst Pimen reports that "under 9550 I see a danger. Up to this figure, it is permissible to drop to search for support for the launch of the penetration of 10 000 and the output above. Below 9550 - feet will sprinkle; most in purchases. Most are waiting for 10 000. Can fixing. The overall picture-to put everything on the opportunity to see the new tops is dangerous. Partial purchase, comfortable volume, is permissible. Indicators for watchmakers in the purchase, trend 12 hours in the purchase. Something tells me that in the zone 10150-10400, those who bought from 9000-9200 will start to go out, in part exactly. Because there was no significant correction. It can be attributed to the entire large outset for the last 3 weeks, as if we were standing and here it is a flat correction. But this is how to look. Returning from above to 10 000 can not escape. Protect the strength of the junction of the support lines on 9000 and the entire allocated 9000-10000 formation would be a beautiful move. If it does, then 11000-13000 is also possible. In total, the whole "cutlet" is dangerous to be in the purchase. From here, but not lower than 9550 chances yet to grow more. With growth, fix on indicators at 15 minutes, then half-hourly, hourly, etc. While 15 minutes will not show - do not sell. For me, the previously allocated zone 10400-10800, with that picture as we can not still take 10 000, looks like a mirage of the desired oasis. For now, it is preferable to keep the purchase. "

The market of altcoys shows a versatile movement

Among the altcoins from the TOP 10, the leader of growth was Ethereum, which added 20% to its value. The ether behaved a little differently than many assumed, at first slightly rose, only after that it was corrected, and then it continued to grow. Now the price is testing the resistance of $ 820, the next significant level is located at $ 870, but it will be difficult to approach it in the next 24 hours. A more likely scenario seems to be a rebound down to $ 730, after several resistance tests of $ 820, after which, most likely, growth will resume with even greater force. There should not be a prolonged recession, since overbought on the oscillator is small, in consequence of which it is necessary to keep the open longs.

Another growth leader is IOTA, which also showed growth of 20%. Then follows Bitcoin Cash (16,6%), Cardano (16,2%), Litecoin (14,4%).

At the time of publication, the market capitalization of the crypto currency reached $ 465 billion, while the bitcoin dominance index decreased to 36%.

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