January 9, 2018. Market Review. Results of the Day. Taking Profit
January 10, 2018
- CEO of a porn cryptocurrency startup has disappeared with investors' money.
- Ethfinex Exchange, Bitfinex's subsidiary, has included BAT, ZRX, FUN, MANA, SPANK and TNB in the listing.
- Stock Exchange OKEx included more than 10 cryptocurrencies in a week in its listing .
- Mail.ru Group in reportedly wants to participate in Telegram ICO.
- Asian regulators are teaming up against cryptocurrency.
- South Korean authorities have started an inspection of six banks related to cryptocurrency exchanges.
- Shares of Seagate and Western Union rose sharply amid rumors of stakes in Ripple.
- Local authorities in China 'gave instructions' to the miners to 'exit from business.'
- Microsoft stopped accepting Bitcoin as a means of payment.
BTC $ 14,845
ETH $ 1,192
XRP 2.2677 $
BCH 2 428 $
NEO + 21%
Ethereum + 8.5%
Bitcoin Cash + 4.3%
ETH continues its growth with the highest price of a day of $ 1,245.
However, now there is a pattern forming on the chart, which could become a reversal one, and take the price back to the support level of $ 1000, and in case of a breakdown even to the level of $ 800.
Excellent opportunity to open a short position, with the cancellation of the scenario if the price would go above the resistance level of $ 1240. With the risk of a deal at $ 58 from the current price, the potential profit is 200-400 $.
It is not superfluous to recall our previous forecast concerning Ethereum. Quote from the review of
"An interesting event occurs on the ETH/BTC chart. A reversal pattern begins to realize with a target of 0.085 BTC. Potential growth is almost 40%. If you had a question where to keep your crypto savings then the answer is obvious. At the moment Ethereum looks stronger than Bitcoin."
By now, this pattern for the ETH/BTC pair has completely realized itself. ETH has increased by 38%. Of course, this does not mean that ETH should begin to fall immediately when the goal is achieved, but it is better to take the profit.