Now, reports suggest that the U.S. Commodity Futures Trading Commission is investigating whether BitMEX allowed U.S. residents to use its platform to trade.
Total crypto market capitalization dropped from over $386 billion on June 27 to a low of just under $252 billion on July 17, which is a fall of 34.7%. Though this looks like a deep cut, we believe that it is a healthy correction as it comes after a sharp rally from close to $100 billion mid-December last year to $386 billion.
On July 16, the DASH/USD pair plunged below the 61.8% Fibonacci retracement level of the entire rally from the lows.
Traders can thereafter initiate long positions with stops placed below $95.On the other hand, if the bears sink the price below $95.4264, it may result in a fall to $86.3249, which is the 78.6% Fibonacci retracement of the rally.
Traders should avoid bottom fishing if the support at $95 gives way.
Traders should avoid cherry-picking if support at $191.879 breaks down.
LINK/USDChainlink started its uptrend on April 30, rallying from a low of $0.4320 on that day to a high of $4.5826 on June 29.
The LINK/USD pair might trade between the 20-day EMA and the 50-day SMA for a few days.
If the pair breaks out of the 20-day EMA and the downtrend line, it will signal strength and traders can buy with stops placed below the recent lows.
The pair will lose momentum below $2.0175, hence - following the breakdown - traders should wait for a new buy setup to form before initiating long positions.
DASH, ETH, LINK: Top-3 Crypto Losers of the Week
gepubliceerd op Jul 20, 2019
by Cointele | gepubliceerd op Coinage
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