Today we will look at the most popular currencies in the context of the last weekend and the end of the week on W1 candles. Popular cryptocurrencies have enjoyed unwaning popularity recent weeks, the entire market is worth over $400 billion. In daily analyses, we will look at the most popular currencies and you can use the opportunities that happen when trading on the Polish BitBay exchange.
Bitcoin
The range of the previous week candle is gigantic, depending on the stock exchange it is from 11 to 17 thousand dollars, although I met with a valuation of almost 20,000 USD. It is worth paying attention to a certain feature in the quotations and this is due to the upper shadow, which increases with each week.
It is also worth noting the size of the correction in the previous week, which coincides with a one-week decline from the beginning of November. So, has the shadow on W1 been a correction and we are returning to increases? Today’s session seems to confirm this.
Ethereum
In the ETH quotations we do not witness such dynamics as above. The previous week for holders meant a correction, which ended close to $ 385 minimums, and so the formation of the Inside Bar formed, breaking it out will give direction for further moves. Today’s 7% increase suggests that bulls can still control the market.
Litecoin
We also observed increases on Litecoin, followed by the 5th week of moves direction north, which brought significant acceleration. The exchange rate has already departed from the level of 100 dollars for the token and today we will pay over $ 160 and this is the historical maximum ATH (as opposed to the predecessors).
On the graph I presented an interesting Fibonacci cluster, where 161.8% of the external measurement from the low of 2017 and 261.8% of the downward trend measurement are grouped. Will the area stop the falls for a moment?
