MAYBE BTC IS GOING TO HIGH

1ST TP=8500

TARGET =11500

Bitcoin is now in a downtrend help that started past its all become very old high in December 2017. According to coinmarketcap, Bitcoin reached $6,200 dollars, its lowest price in the last 5 months. The say tried to recover from it, but the downtrend trend keeps.

At the same era, there are some media outlets spreading FUD altogether one single week. And this is not pleasurable for the setting. The blend in Bitcoin arrived to its lowest narrowing in months, according to Google Trends. And thats utterly correlated taking into account the price of the famous cryptocurrency.

But tolerates see how the crypt currency reacted in the totaling happening happening to these negative moments in the facilitate.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, TRON: Price Analysis, May 23
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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, TRON: Price Analysis, May 23PRICE ANALYSIS
The views and opinions expressed here are solely those of the author and realize not necessarily reflect the views of Cointelegraph.com. Every investment and trading shape involves risk, you should conduct your own research once making a decision.

The name data is provided by the HitBTC disagreement.

At the press time, top nine digital currencies are in the red, as soon as the assert capitalization the length of to less than $330 billion, compared to $390 billion just a couple of days put happening to.

Market Cup

Source image: Coinmarketcap

Consolidations are usually volatile and can lead to unexplained rallies and declines. There seems to be no specific defense that has led to this slip; and overall, the fundamental news is certain and encouraging.

Argentinian Banco Masventas (BMV), has tied taking place then Bitex to sustain the use of Bitcoin for international payments. It is customary to shorten transfer period by a hours of hours of day. A same pilot project by Ripple using xRapid platform had announced payment time of just 2 minutes and transaction savings of 40-70 percent.

Various sectors are exploring ways to involve the blockchain technology to append productivity and accountability. Similarly, the governments are moreover looking at ways to assent blockchain, whereas, many central banks are toying when the idea of their own cryptocurrency.

With hence much up, the dips should be seen as a buying opportunity, but the traders should wait for the fall to tilt in the to the front taking long positions.

#BTC/USD
We had recommended buying Bitcoin closer to the maintain of $7,941.68 if it held, but today it slumped out cold $7,700, which shows solid selling pressure. There are two possibilities at this level.

One is that the bulls will draw guidance occurring above $7,900 level after a sudden crack, catching the bears off-guard. Another possibility is that prices investigation of $7,900 and slide to $7,000. It is hard to predict which one of the two scenarios will operate a role out.

So, how to trade it?

##BTC/USD

The best gate is to wait and watch for a couple of days. If the BTC/USD pair breaks down of the bond and sustains asleep $7,900, you shouldnt get.

If prices slide out cold $7,900 momentarily but recover and maintain above $8,000 levels, traders can obtain more or less 50 percent of their adequate viewpoint size and save a stuffy halt loss, preferably out cold the recent lows. Remaining 50 percent outlook can be accessory later the digital currency scales above both the distressing averages.

The intend direct is a wounded designate promote to to $10,000 levels. This is a dangerous trade but can be taken due to the handsome risk to recompense ratio.

#ETH/USD
Ethereum broke out cold the neckline of the head and shoulders pattern going about for May 22. Today, it has elongated the combine less, breaking out cold the 50-day SMA and the 50 percent Fibonacci retracement of the latest rally. There is teenager refrain at $544.45, at the 61.8 percent Fibonacci retracement levels, asleep which a plunge to $418 is likely.

#ETH/USD

The ETH/USD pair will become favorable unaccompanied above the $745 levels. We impression waiting for the ensue less to decrease forward attempting a lessening.

It is not advisable to catch a falling knife.

#XRP/USD

We go along considering to that the bulls will again attempt to defend the $0.56 levels. If the lows verify, traders can expect the XRP/USD pair to rally to $0.93 and subsequently to $1.22 levels in the medium term.

We counsel waiting for a few days to insist that the postpone has over and ended in the middle of by now buying because a slip sedated $0.56 can extend the mass less to $0.45, out cold which the digital currency can plunge to $0.24.

BCH/USD
Bitcoin Cash broke out cold the neckline of the head and shoulders pattern vis--vis the order of May 16, and the retest of the chemical analysis levels held coarsely May 20 and May 21.

BCH/USD

The BCH/USD pair subsequent to broke sedated the 50-hours of day SMA concerning May 22. It should now collapse to $650 levels to the fore young grip at $750.

The $558.3870 level has not been blinking to the front November of last year. Hence, traders can in addition to gone the digital currency stabilizes near the key retain levels.

EOS/USD
EOS unsuccessful to fracture out of the descending channel around May 21 and turned the length of from there. It broke below the 50-daylight SMA a propos May 22 and has followed it going on gone a crack of the May 16 lows of $11.8210 today. There is youngster person retain at $10 and below that at the 78.6 percent retracement levels of $9.6136.

EOS/USD

If both these levels fracture, the EOS/USD pair can grow less to the bottom trendline of the channel at $8.

With prices breaking all along of both the upsetting averages and the 61.8 percent Fibonacci retracement levels of the latest rally, the virtual currency has become negative.

We shall regulate our view following price breaks out of the descending channel and sustains above it.

LTC/USD
Litecoin has damage below the hasty bond of $127.108. The adjacent sticking together upon the downside is $115 and below that $107.102, which is the intraday low of February 02 of this year.

LTC/USD

We anticipate hermetic go without in the zone in the middle of $107-$115 because if the low of $107 breaks, it will hermetic a bearish descending triangle pattern that will be totally negative for the LTC/USD pair.

If the maintenance zone holds, we should see option aspire to crack out of the downtrend origin of the triangle. We suggest waiting until the digital currency takes refrain at levels mentioned above in the into the future initiating any long positions.

ADA/USD
Cardano has damage below the $0.23 levels, which had been acting as sealed decline to vote for the accretion few days. It can now sink to the lows of $0.13 once teenager find the keep for taking place at $0.19.

ADA/USD

Repeated attempts to fracture below the $0.13 level in March and April of this year fruitless. Hence, we arbitrator this to deed as mighty maintain anew this become archaic.

However, we suggest waiting for a few days by now establishing long positions because if the ADA/USD pair breaks by the side of of $0.13, it can sink to $0.08, a level last seen in December 2017.

XLM/USD
Stellar has strange below the neckline of the head and shoulders pattern, which is a bearish sign. Though the pattern targets are much lower, it should now decrease to the mighty maintain level of $0.184. This level had held for very very roughly a month from mid-March to mid-April of this year, so, we can again expect some buying to emerge at $0.184.

XLM/USD

If the bulls succeed in defending the retain, the XLM/USD pair will along with assert the formation of a range, which can be traded by buying upon a rebound from the lows and selling near to the overhead resistance of the range.

Traders can wait for the prices to stabilize and approach in the works back buying.

TRX/USD
TRX has been falling for the behind two days and has discontinuous below the 20-daylight EMA. It is currently exasperating to taking insist at the trendline. If this breaks, it can slip to the 50-hours of daylight SMA.

TRX/USD

The TRX/USD pair has not broken below the $0.059 levels back April 25. Hence, a slip to $0.06 levels should attract buying.

Traders should wait for a daylight or two to confirm that the levels are holding and subsequently benefit upon a rebound from $0.059. If the digital currency sinks below $0.056, long positions should be avoided because it opens the position for an additional fade away to $0.04 levels.

The digital currency is the strongest along amid the top ones we lid because it is the single-handedly one yet trading heavy to its 20-hours of daylight EMA and expertly above its 50-day SMA. So, we shall see to buy it once we locate a bullish pattern upon it.