Cryptocurrency Tries to Find its Way Up | Bokka
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Cryptocurrency Tries to Find its Way Up

Bokka Crypto Technical Analysis

Bitcoin and other coins made a failed attempt to reverse the current downtrend. Although MACD shows a buying opportunity, the overall market situation doesn’t look promising.

BTC/USD

Bokka Crypto Technical Analysis BTC/USD 02.04.18

During the past weekend, Bitcoin made two failed attempts to reverse the current downtrend. On March 31 and today, BTC touched the top border of the Donchian channel, but both times were without success. Latest bounce has been stopped slightly above the level of 23.6% Fibonacci retracement of the current drop from $8,975 to $6,388. Although MACD just crossed zero line from below and shows a “BUY signal”, the overall market situation doesn’t look promising. Most likely, the formed range between $7,078 and $6,388 will be broken again to the downside. Only if BTC is able to hold onto the resistance level at $7,078, you can consider a buying opportunity, with a stop at $6,388.

ETH/USD

Bokka Crypto Technical Analysis ETH/USD 02.04.18

During the past weekend, Ethereum made two failed attempts to reverse the current downtrend. On March 31 and today, ETH touched the top border of the Donchian channel, but both times were without success. The first bounce has been stopped slightly above the level of 23.6% Fibonacci retracement of the current drop from $585 to $354. Although MACD just crossed zero line from below and shows a “BUY signal”, the overall market situation doesn’t look promising. Most likely, the formed range between $390 and $354 will be broken again to the downside. Only if ETH is able to hold onto the resistance level at $390, you can consider a buying opportunity, with a stop at $356.

XRP/USD

Bokka Crypto Technical Analysis XRP/USD 02.04.18

During the past weekend, Ripple has turned its decline to a flat range between $0.42 and $0.36. Today, XRP has touched the top border of the Donchian channel, but without further success. The previous bounces during the past week have been stopped exactly at the level of 23.6% Fibonacci retracement of the current drop from $0.63 to $0.36. Although MACD just touched zero line from below and proposes to form a “BUY signal”, the overall market situation doesn’t look promising. Most likely, the current flat range will be reverted again to downfall. Only if XRP is able to hold onto the resistance level at $0.41, you can consider a buying opportunity, with a stop at $0.36.

LTC/USD

Bokka Crypto Technical Analysis LTC/USD 02.04.18

During the past weekend, Litecoin has turned its decline to a flat range between $120 and $105. Today, LTC has touched the top border of the Donchian channel and is looking for holding its gains. The previous bounces during the past week have been reverted exactly at the level of 23.6% Fibonacci retracement of the current drop from $173 to $105. MACD crossed zero line from below and shows a “BUY signal”, with weak signs of a possible uptrend. If LTC is able to hold onto resistance level at $120, you can consider a buying opportunity, with a stop at $108.

BCH/USD

Bokka Crypto Technical Analysis BCH/USD 02.04.18

Bitcoin Cash continues its downfall and, today it has touched the top border of the Donchian channel for the first time since March 24. This latest bounce has been stopped slightly above the level of 11.4% Fibonacci retracement of the current drop from $1,069 to $609. Although MACD just touched zero line from below and proposes to form a “BUY signal”, the overall market situation doesn’t look promising. Most likely, this short respite will be transformed again to the continuous downfall. Only if BCH is able to hold onto the resistance level at $673, you can consider a buying opportunity, with a stop at $613.

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