Total Crypto Market Capitalization
The overall performance of the digital assets market over the past week has significantly been increasing. Investors holding cryptocurrencies or even fiats are waiting to buy various coins. They have a fear of buying and selling. Therefore, we have drawn 4 trend lines along the speed line to show how the price keep rising. Another implication of the speed line is used as a trailing stop.
Technical Signal Trading
BTC price raised to US$ 60,000 within less than a week. Although the momentum seems weak, the steady flow and cash inflows are even stronger. However, these warning signs cannot be overlooked. There was an average cost for making a decision. We added an EMA(90) line to be our trailing stop, then the direction has changed.
ETH continues to rise pass through every checkpoint and break through every resistance at US$ 2,000, then selling pressure is downward. We can see that the price rose pass through the zone for a while and then comes back to the same point as the momentum from various tools signal warnings.
Therefore, it will be safer to consider trailing stops before investors make any decisions.
XRP is unable to break through the major resistance at US$ 0.6 at this moment. Selling pressure downs to US$ 0.5 within 3 days. If you use other tools, the price may not pass through this resistance. Therefore, most of prudent investors will choose to wait calmly in order to think or decide for taking action carefully.
LTC continues to rise to around US$ 250. This is big resistance. When the price rises to a huge resistance, there will always be some actions. The green dotted line is also considered a resistance. LTC rises to hit resistance. We recommend to use trailing stop and to carefully consider the zone.
The gold price has already dropped from a triangle. If the price decreases lower than US$ 1,770, this will immediately be a downtrend. For day traders, when the price changes direction, we have to change the game. As for investors who like to collect gold, this would be the chance to buy gold at a lower price.