If the bulls push prices above the 20-day EMA, the recovery can extend to $4,500 and above it to the $5,000 level.
If the bulls sustain above the 20-day EMA, a move to $136.12 is possible.
The bulls might face resistance at the 20-day EMA.On breaking out of the 20-day EMA, the EOS/USD pair can pull back to $3.0510 and $3.5147 - 38.2 percent and 50 percent of the retracement levels of the down move from $5.4793-$1.55.If the bears push prices down from the 20-day EMA, the virtual currency can remain range bound for a few days.
Aggressive traders can attempt long positions above the 20-day EMA, keeping a small stop.
The first level to watch on the upside is $115, above which a move to the 20-day EMA is possible.
Traders can wait for the price to close above $80.352 to go long with stops kept just below the Dec. 15 low.
Our bullish view will be invalidated if the price turns down from $80.352 or the 20-day EMA and plummets below $65.031.
The traders can wait for a close above the 20-day EMA and initiate long positions, keeping the recent lows as a stop.
We are asking to wait for the close because on Nov. 29, the price rose above the moving average but could not close above it.
Short-term traders can wait for the price to sustain above the 20-day EMA to trade on the long side.
Bitcoin, Ripple, Ethereum, Stellar, EOS, Litecoin, Bitcoin Cash, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 17
gepubliceerd op Dec 17, 2018
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.