Gregor Horvat
EW-Forecast
Good morning Crypto traders! No big changes from yesterday, Crypto market remains under bearish pressure and there can be room for more weakness, especially now when we see strong daily reversal on stocks, just watch out for intraday pullbacks. Two days ago Microstrategy CEO Michael Saylor Discussed that Bitcoin Can Become $100 Trillion Asset Class, but looking at the Microstrategy chart compared to Bitcoin, we can see a corrective movement within downtrend, so »buy the rumor, sell the news« ?
BTCUSD is sharply and impulsively down in the 4-hour chart after we noticed 5th wave, so seems like temporary top is in place and we can expect much bigger decline at least in three waves A/1-B/2-C/3. Currently, we are tracking a pullback in wave B/2 or alternatively still wave A/1, however, in both cases be aware of short-term corrective recovery only before the downtrend within wave C or 3 resumes.
Check more of our analysis for currencies and cryptos in members-only area. Visit EW-Forecast for details!
By using www.ew-forecast.com website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.ew-forecast.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Decentraland price is forming a cup-and-handle pattern, suggesting a 50% upswing to $5.5. Due to the inherent nature of MANA, its share of the Metaverse is likely to increase. A breakdown of the $3.6 support level will invalidate the bullish thesis.
90.7 million DOT have been staked or locked in crowdloans, ahead of the end of the second parachain auction. Moonbeam, a scalable smart contract platform is leading the second parachain slot auction that ends soon. Analysts are bullish on Polkadot price, predicting a trend reversal.
Ethereum price fell in tandem with other major cryptocurrencies including Bitcoin, dropping to $3,962 on November 18. The second-largest digital asset by market capitalization appears to be recovering slowly from the recent correction.
Litecoin price is hovering just above Monday’s high at $205, suggesting the start of a new uptrend. LHV Pank will allow its customers to trade LTC and other cryptocurrencies. A breakdown of the $172 support level will invalidate the bullish thesis for the altcoin.
Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
