HomeTradingCyclical Crypto Trading: The bull is looking for confirmations

Cyclical Crypto Trading: The bull is looking for confirmations

Cyclical Crypto TradingThe low volumes traded over the weekend show the operators’ desire to take it slow after the recent double-digit rises, the best in the last three months.

Now we will have to understand if supports are solid enough to allow the bull to retake the spotlight.

The week starts with prices substantially unchanged from the values of the last three days, with fluctuations around 0%.

For the first 10 cryptocurrencies, movements swing between positive signs like that of Bitcoin Cash (BCH) at +0.4% and the average negative of -1%.

The only one to wake up on the wrong side of the bed is Stellar Lumens (XLM) with a drop of -4% from yesterday morning levels: it goes down to 30 cents of a dollar after touching 35 cents between Wednesday and Thursday.

This decline comes after having doubled in value in less than a month. Stellar (XLM), along with Eos (EOS) and Tron (TRX), are the only ones among the top 15 to have a positive balance since the beginning of the year.

The total market capitalization continues to remain around 300 billion dollars with bitcoin showing an increased desire to regain 50% of the dominance, a share abandoned in mid-December ’17. It is currently about 60% away.

After paying attention to the past and future decisions of the SEC, the focus shifts towards South Korea, which, according to some ministers, seems to be reevaluating the crypto sphere by establishing new rules for a more effective and less stringent regulative framework.

The Asian nation is among the most active in the crypto sector.

Its population has a high percentage of knowledge and adoption. This is the reason why petitions and demonstrations against the government were organized, forcing to soften the ban on cryptocurrency trading initially announced by the Ministry of Justice in order to avoid future cases of fraud and price manipulation that were recorded between the end of December and the beginning of the year.

Cyclical Crypto Trading
Search: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

From Friday afternoon, prices fluctuate around the 8150 area (+/- 150 dollars). The persistence of such conditions is usually the prelude to a marked directional movement.

Overcoming the 8250-8300 threshold increases the chances of recording new highs. On the other hand, going under the 8000-7900 threshold opens up a bearish space for possible returns to the 7400-7200 area. The bull might be in danger again below these levels.

Cyclical Crypto Trading
Search: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

The litany of recent days continues to repeat itself. The failure to exceed $480 draws an uncertain condition for the future of ETH. In the last few days, prices have been experiencing smaller fluctuations.

During the last few hours, prices have returned to lean on the bullish trendline, which started on 29th of June and has so far rejected any bearish movement. A return above $500 is needed to ward off the fears fueled by prices going below $440.

Federico Izzi
Federico Izzi
Analista finanziario e trader indipendente – Socio S.I.A.T. & Assob.it. Opera attivamente sui mercati azionari e dei derivati (futures ed opzioni) dal 1997. Precursore dell’analisi ciclica-volumetrica è noto per aver individuato i più importanti movimenti al rialzo ed al ribasso sui mercati finanziari degli ultimi anni. Partecipa annualmente come relatore all’ ITForum di Rimini dall’edizione del 2010 ed InvestingRoma e Napoli dalla prima edizione del 2015. Interviene come ospite ed esperto dei mercati durante le trasmissioni “Trading Room” e “Market Driver” di Class CNBC, Borsa Diretta.tv e nel TG serale di Traderlink. Da luglio 2017 è ospite fisso su LeFonti.TV nell’unico spazio nazionale settimanale dedicato alle criptovalute insieme ai più importanti esperti internazionali del settore. Periodicamente pubblica articoli su ITForum News, Sole24Ore, TrendOnLine, Wall Street Italia. E’ stato intervistato in qualità di esperto di criptovalute per: Forbes Italia, Panorama, StartupItalia, DonnaModerna. E’ stato riconosciuto come primo analista tecnico italiano ad aver pubblicato la prima analisi ciclica secolare sul Bitcoin. Federico Izzi è… Zio Romolo