Trading ideas for the cryptocurrency on 16 may 2018 — BTC, ZEC, ETC
Market capitalization is shrinking. From the beginning of may is 11.6%. The share of bitcoin while during the same period remains unchanged at 37.3%, but the Ethereum increased its share by 15.9% to 18.22% of total capitalization.
BTCUSD under pressure
Discussed the $8093 as an important to achieve. Now it is necessary to observe the behavior of traders beside him. If you hold out, the correction will go up to $8395. In light of the fact that the trend remains downward – purchase threat. In trying to find the best entry point to Buy you can try to open long positions on Bitcoin near $8093, but stop under the low of yesterday.
Zcash for fulfills upward channel and if we will be held to the level of $260, it is necessary to use it for new purchases of the asset. While the activity of buyers has slowed from a high of $356 downward correction has reached 20%, which creates conditions for more price drop and then a strong support at $260, aktualisierte purchase.
BCTEUR to €7615
The trend of sales continues. I propose to follow the conservative scenario and to buy only when you change the General mood on the market. Monitor the price of €6720, as it is a break-down may postpone the purchase BTCEUR for the next week, at least.
ETCUSD (Ethereum Classic)
Should try to buy at the current price with a target at $16,80 within the release from the newly formed trends. Stop under the low of the current day. Very small, about 4%. Hang up even 7-10% is possible to fix profit.
Maria Salnikova, an independent currency strategist, especially for CoinSpot
My channel for traders with trading signals in real time: http://clc.la/mariacoinspot
The review reflects the subjective position of the analyst Coinspot subject to personal trading style. Trading operations with cryptocurrency are increased risks due to the nature of the market. The editors are not responsible for your trading decisions and recommends trading only to those funds, the loss of which will not be critical.