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BTC, ETH, BCH Price Analysis – A Market Bull Run is replaced by a correction



  BTC, ETH, BCH price analysis - A market run is replaced by a correction

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It looks like the cryptocurrency boom of 201

7 is back. Last week, Bitcoin and many other venues went to conquer new peaks.

Traditionally, the development of growth dynamics is supported by positive news, such as the actor's readiness to introduce uniform crypto standards and the long-discussed issue of SEC and CFTC market regulation, as the corresponding statement was made to the US Congress.

  Ban All Cryptos & # 39; Call Rings Out in US Congress: Reasons Why It Will Never Work

The new week has started with the correction of the cryptocurrency market. The reason for this is clear traders and investors taking profits.

Currently, we have the following events that can affect the market:

  • 13. May begins consensus 2019 – the annual largest crypto conference.

  • On May 14, Binance will resume deposits / withdrawals of funds.

  • Open CME futures trading.

BTC / USD

Bitcoin has grown over the past four months. The result is that Bitcoin growth was 75% since the beginning of the year.

The following basic factors can cause BTC's growth: The consensus conference that every year (except the previous one) gave a strong reason for BTC halving.

  • Global Basic Events – ETF, Baking and Fidelity.

  • BTC's investment attractiveness is also confirmed by the Binance survey.

    Now, let's switch to technical analysis.

    Our previous BTC prediction was not met as the leading crypto jumped to $ 7,000 and could reach even $ 7,500.

    But all that is more $ 7,000 is a confirmation of the Bitcoin strength, but it is a very long time to get a long position. risky and comparable to buying Bitcoin over $ 15,000 in 2017.

      Bitcoin Reaching $ 6,000 is massive for the market - Experts e Explain what the future holds

    On the 4-hour chart, the RSI indicator is near the overbought zone, while MACD is at high levels. For the short-term scenario, the BTC is likely to be adjusted to the $ 6,800 support zone due to the decline in trading volumes.

    The price of BTC is traded at $ 7,068 at the time of writing. [19659024] ETH / USD

    The most popular altcoin is not far behind Bitcoin. Last year, a test network launch was launched for Ethereum 2.0, which contributed to the growth of cryptocurrency.

    The price of Ethereum achieved the $ 180 mark, which we expect last week. Similarly, new levels of support and resistance have been created, at $ 184 and $ 200 accordingly.

      ETH price can increase to $ 280 if it breaks resistance. A sneak of technical indicators on the ETH price overview

    Currently, assets close to the red zone are according to the Fibonacci retracement. As ETH remains bullish, one should expect a level of $ 196 (61.8%) over the next few days.

    The price of ETH is $ 190.28 at the time of writing.

    BCH / USD

    Bitcoin Cash showed one of the most important growths over the past weekends; The price increased by more than 30%, as outlined in the hourly test. The highest peak was $ 386 on the Bitstamp exchange.

    BCH is one of the best coins for manipulation, as quotes are extremely volatile under some market movements. In terms of possible price prediction, Bitcoin Cash should reach its $ 340 support level, which is supported by the MACD indicator and declining trading volumes.

    The price of BCH is $ 358.60 at the time of writing.


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