February is the month of kickbacks. It is difficult to say that the uptrend now reigns in the entire universe of crypto-currencies, but significant rollbacks still occurred. We suggest you rewind the story exactly 28 days ago, and see how it looked then – and how it relates to the current figures today.
Bitcoin returned to where he came from
In early February, bitcoin traded at $ 10.500-10.200 – and you know what? Today, exactly one month later, its quotations are traded at about the same level.
Many experts in finance talked about the $ 13,000 mark at the end of February, and they were very close to the goal. We have considered specific levels and grades that can be pleasant to buyers and sellers, and have built the analysis on the basis of our own arguments.
The key points that met their expectations:
the BTC / USD pair found the demand zone at the level of $ 5500-6000;
the key resistance for the price arose at $ 12,000, and there is nowhere for the buyers to rush – it’s best to fix all or part of the position;
the price found temporary support near the level of $ 9000.
While support shows signs of life, buyers can act above $ 9.000- $ 10,000. Anything above the $ 11.000- $ 12.000 zone is a zone of sellers, and it may take some time to find out who will be the winner from this fight.
Ethereum: Side movement can mean anything
The ETH / USD pair is in the flat area for most of this month. As you know, the true breakthrough of consolidation is very difficult to predict, although there is a high probability that the price will soon again go to test the lower boundary of the flat. At the same time, the cost of Ether can be reduced to $ 750 per coin.
The real trend will begin only when the price can break out of the consolidation. The boundaries are located in the following zones:
$ 950- $ 1050, the upper zone;
$ 720- $ 830, the lower zone.
Therefore, we are waiting for the breakdown in any direction, and we correct the forecasts depending on the trading system.
Litecoin: expectations that will not come true
This month was very positive for the pair LTC / USD – the downtrend has finally ended. Just for how long? Charlie Lee promised us the launch of LitePay and LitePal, and that in the end?
It is enough to look at the hourly chart of Litecoin to see for yourself that the bulls lost the $ 220 level, as well as the desire to believe in further growth of the crypto currency
The next bullish mark for LTC is obvious, as never before – the $ 150-170 zone. Entering the market earlier is not yet the safest venture.
Crypto currency NEA is in an unstable uptrend – this is evidenced by deep price retracements and wave-like price movement. And yet, the pair NEO / USD was able to updаte the next ascending maximum, which is a good bullish sign. The level of $ 120, for which the bulls and bears fought desperately for a long time, seems to have surrendered at the mercy of the first – buyers will certainly be found at the next retest.
It remains to wait only one – the demand will continue to exceed the supply, and buyers will open their positions at $ 120 again. So we are waiting for bullish signals, whether candlestick analysis or indicator indicators.
The situation as a whole
Over the past month, many crypto-currencies have found their bottom, short-term or for the next six months. Many of them have already managed to make 50% or more, while others are closed forever. The crypto-currencies that were considered in this review have already been firmly entrenched in our world, and are unlikely to be able to withdraw from it in the next few years. So – the work of traders will be more than enough.