Analysis of prices BTC, DASH, ETH (20.02.18)

Bitcoin continues to develop upward dynamics and by noon reached the previously indicated target of $11,500. There was no doubt that BTC/USD will reach the specified level, but whether buyers will be able to keep the initiative higher is a big question.

The graph shows that in the region of $ 11 700-11 800 the upper limit of the upward channel is located, as well as the resistance at the level of $11 750, which restrains the cue ball from mid-January. There goes R2 and the daily Pivot. The presence of these technical barriers creates a serious obstacle to the movement above. This does not mean that further growth is impossible, just to continue it may require a small unloading of the price. This being said, we recommend to put a pending limit sell at $11 750 in the calculation of the correction to the 38.2% level of Fibonacci ($11 020).

Dash, though, continues to copy the dynamics of bitcoin, but with a much smaller correlation. In the Asian session on Tuesday the pair DSH/USD hit our target at $700. At the level of $710 there is resistance, the same level is the upper limit of the sidewall, out of which Dash is trying for more than a week. We recommend you to wait for the breakout of the specified bar and, as the price is fixed above, open new long positions.

The continuation of bullish dynamics is supported by finding the price above the moving averages (EMA25, EMA50 and EMA200), as well as MACD, the histogram of which is rebuilt above the zero mark. The next target can be placed at $800. The chances of breaking through there are still high.

Ethereum is also developing bullish dynamics, however, there is still more than $50 to the target of $1000. We remind you that the psychological value of this resistance should not be questioned, and thus to overcome it again is unlikely. We recommend that you do not try your luck and immediately fix the profit near the specified level.

If buyers find enough reason to move higher, we will look for new entry levels. In the meantime, there is a risk of technical pullback in the area of moving averages EMA25 and EMA50, located at $920. However, it is better to observe such dynamics from the outside.