Crypto Currency Market Analysis 21-04-18

In the domain of stock markets – index funds used to be very popular introductory investments. And why it was so? It is because of the sole reason that newer investors are easily attracted towards it in search of better returns as compared to a lot of conventional hedge funds.

The trading in crypto currencies could be compared to a ride of roller-coaster which many of the people would find difficult to digest. Hence, it could be said with certainty that if such investors are provided an option having lesser volatility having equivalent returns on investments, they would certainly consider jumping the boat.

To serve this need many index funds for crypto currencies are fast mushrooming up. They claim to be letter in volatility and providing return which are comparable to crypto currencies. If they are able to relinquish the investors from the vicious cycle of bears and bulls; a whole lot of new investors would sure come out of the domain of crypto currencies.

Big banking names such as Barclays and Goldman Sachs are said to be working overtime so that they are able to lay the best work to enable themselves setup a specialized trading desk of crypto currencies. It is expected that with such move an increment in the volume resulting in deepening of the markets would happen.

Lastly, the conventional community of bankers is fast recognizing the significance of these new age digital crypto monies. Latest in the series of these kinds of moves is a web log entry of Ms. Christine Lagarde, who is currently heading the IMF that is International Monetary Fund. She has espoused her views regarding the probable advantages of utilizing the crypto currencies.

The recent development in the pricing of crypto currencies has given us a sentiment that we have left the worst far behind and a majority of these digital cryptocurrency would be entering a bottom mark. Let us go back to our usual task of market analysis of crypto currencies Bitcoin, Ethereum, and Bitcoin Cash.

Bitcoin Versus United States Dollar

Bitcoin has failed to gain any kind of ground after it broke out from the decrementing channel on 12th of April. It has finally sandwiched between the both kinds of moving averages so that the bearish movers are hard defending the simple moving average of 50-days while the bullish movers are keen on purchasing at the exponential moving average of 20-days.

If it so happens that the price of Bitcoin is not able to break out from the claws of simple moving average of 50-days within the following two days; it is quite a possibility that the traders could increment their stop level – so that – they are able to break even or could be in the vicinity of closing. If a failure occurs in the process of crossing the resistance level – an overhead under selling would seem to be lucrative. This could further add fuel to the sinking of this new age digital crypto currency backwards to the level of $ 6,757.

If it so happens that the price is able to easily break out the simple moving average of 50-days then a rallying towards $ 9,400 with the next stop loss at $ 10,000 is quite a possibility.

Ethereum Versus United States Dollar

For previous passing 4 days Ethereum is able to gather the support at the level of $ 500. Although it could be said that the down trending has come to a halt – still, we are not able to notice any kind of conviction regarding the purchasing to return.

The exponential moving average of the 20-days has fallen flat and the simple moving average of 50-days is in the long run of falling. Because of this reason the pricing of Ethereum in United States Dollar is tightly sandwiched among these two kind of moving averages.

If a breakout occurs overhead the level of simple moving average of 50-days; then it would easily be able to push the pricing of Ethereum towards the level of $ 600. While if a breakout happens below the level of exponential moving average of 20-days then this premier currency would be sinking towards the level of $ 418.

As we are not able to gather enough sentiment in favor of this crypto currency – therefore, for a few days we would advise you to refrain from any trading in this crypto currency. You are advised to watch the market carefully and put your stakes accordingly in case of Ethereum cryptocurrency.

Bitcoin Cash Versus United States Dollar

After gathering support at the exponential moving average of 20-days the Bitcoin Cash which happens to be a forked version of Bitcoin – is slowly crawling towards the simple moving average of 50-days. In the earlier times, we had not seen any kind of selling at the simple moving average. Hence, our prediction is that any kind of resistance – be it – major or minor; would not occur at simple moving average of 50-days, at least for this point of time.

The objective target of this increment would be lying at the level of $ 1,114 – at which point the traders could be able to register small profits. The Bitcoin Cash crypto currency’s health has suffered from vertically going rally starting – an altogether a new kind of trend. Hence, our suggestion is to keep on holding at this position with the downwards line stop loss.

If it so happens that a vertically going rallying happens then our suggestion to the traders is that they would be able to see the pricing of Bitcoin Cash towards $ 1,300 to $ 1,600. It might happen that the stop loss becomes a bit more raised at the $ 700 level. Hence we are not suggesting any sticking with the trading of Bitcoin Cash – if it once again breaks down the exponential moving average of 20-days. An impressive spiking in the pricing of Bitcoin Cash has been registered whereby it jumped towards the level of $ 1,080. With this, the Bitcoin Cash cryptocurrency has become world’s forth biggest asset with a total market capitalization lying at a whopping $ 18 billion!

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