Technical Analysis of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin

The digital currency market is beginning to recover after a $70 billion decline in just 48 hours. Historically, digital currencies have experienced massive gains during Consensus – a blockchain tech conference in NY. In this article are the present values of top digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

Bitcoin

Bitcoin experienced a dramatic decline from the $9,900 level down to $8,300 within a period of one week. This level of volatility has not been experienced in a very long time, but it was a surprise to a lot of people after the upside movement seemed to be continuing.

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On the first day, the value of bitcoin is sitting right in the cloud, beneath Kijun and Tenkan Sen. These lines are sloping towards one another, showing high momentum and a potential TK cross. The Tenkan-Sen is presently on top and it’s the faster moving average, so if the value starts increasing, the TK cross can be avoided.

Ethereum

Ethereum also experienced a drastic decline, moving from its high of $820 down to a low of $640. This digital currency is still above the cloud, this indicates that the upward movement might not be over yet. The value of Ethereum is presently touching the Tenkan-Sen and bounced off the Kijun-Sen a couple of days back. Watch out for the digital currency for how it reacts to the Tenkan-Sen for potential trade opportunities.

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Bitcoin Cash

After being the biggest gainer two weeks ago, Bitcoin Cash experienced a significant decrease last week. The digital currency could break out its resistance level and it appears to have found a support level in the green area.

Litecoin

Litecoin also saw a significant decline in its value, from $180 down to a low of $130. The digital currency found support before the local support level highlighted a week ago, after which it bounced off to its present value of $145.


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