BTC May Usher In A Definite Direction

Citing analysis released by Jins, the crypto analyst at CoinNess.com, inflection point is going to appear for Bitcoin (BTC). The correction of BTC has lasted for up to six months, and indicators show that the market may welcome changes though the formation is not confirmed currently. With respect to the price performance, BTC has been operating on the periodic line of Gann Fan, which is an optimal position that leads to the significant changes. Going back over the period of waves beginning from June 26, it can be found that each point with the great change is a clear area for investors to buy the dip or build positions. Therefore, investors should keep a watchful eye on the changing signals. In addition, BTC retraced after surging to nearly $7,500 on the evening of December 26 (UTC), with an amplitude of less than 4%, suggesting an unconfirmed direction.
The short-term rising of Ethereum Classic (ETC), one of the largest cryptocurrency by market cap, is sharp with its amplitude reading roughly 17%, indicating the bullish performance was continued. Amongst major cryptocurrencies with a large market cap, ETC’s gains are impressive and its trading volume also enlarges. That is, the coin maintains a high-level trading volume during the retracement, which is probably caused by the attention from investors, and the transaction activities are abundant. In consequence, holding is preferable for the long positions to make a profit.

Published at Fri, 27 Dec 2019 03:43:23 +0000

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