January 9, 2018. Market Review. Results of the Day. Taking Profit

January 10, 2018

January 9, 2018. Market Review. Results of the Day. Taking Profit

News review:

  • 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.

Changes (24h):

BTC $ 14,845

ETH $ 1,192

XRP 2.2677 $

BCH 2 428 $


Gainers (24h):

NEO + 21%

Ethereum + 8.5%

Bitcoin Cash + 4.3%

 

Losers (24h):

Ripple -7.7%

Zcash -2.57%


Technical analysis.

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 January 2, 2018:

"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.

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