Analysis of the cryptocurrencies market - July 7th, 2017
The most valuable coins are still trading in very narrow ranges today, as last week’s correction still dominates the market, although the low volatility environment more resembles a continuation pattern than a pause before another leg lower. “Never short a dull market” is an old but reliable truth of trading, and the long-term charts are also pointing to a bottoming process for Ethereum and Bitcoin.
Bitcoin price is testing the ascending triangle resistance, still deciding whether to make a bounce or an upside breakout.
Litecoin already continued its bull market after the correction, in fact, it got close to a long-term target, while Dash also broke out to new highs this week, before entering a short-term correction. The other majors are yet to make a significant move, so let’s how their charts shape up before the weekend.
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Interesting to read, will keep an eye on your posts