Monday Cryptocurrencies Analysis - 2018-02-12
Monday Cryptocurrencies Analysis - Feb 12th, 2018
The strategies discussed below are suitable for swing traders.
As there are too many cryptocurrencies, it is not feasible to analyze all of them once a week, so I’m going to analyze the large cap cryptocurrencies. You can request an analysis at the comment.
Current Capitalization
According to investopedia.com the cryptocurrencies ranking cap for those coins listed on coinmarketcap.com is as follow:
- Mega cap (above 200b) = none
- Large cap (above 10b) = Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano
- Mid cap (above 2b) = Litecoin, Neo, Stellar, EOS, IOTA, NEM, Dash, Monero, Lisk, TRON, Ethereum Classic, Bitcoin Gold, Tether, Qtum, VeChain
- Small cap (above 300m) = Steem, and many others
- Micro cap (above 50m) = many others
- Nano cap (under 50m) = Steem Dollar (SBD), and many others
Bitcoin analysis
I’ve put Bitcoin analysis on a separate post because of it’s dominance. You can read it here:
Monday Bitcoin Analysis – February 12th, 2018
Large cap analysis
All of these charts are taken from HitBTC.
Ethereum
Ethereum has a divergence between it’s price against the volume and MACD. This is not a good sign, normally it represents a reversal to the bottom. Hopefully it won’t move down too much. Bouncing at one of the EMA would be the best scenario for correction before moving back up.
Ripple
Ripple is trying to get back into equilibrium after bouncing the support line. The MACD is also going back to zero area. No clear sign whether it wants to shoot up or not. Special Note: Ripple is a centralized coin, please google the advantages or disadvantages of it and decide by yourself.
Bitcoin Cash
Bitcoin Cash is not moving a lot. It’s moving inside channels (the red lines I’ve drawn). What’s concerning is the volume is getting lower and lower. Seeing the graph, I would stay away from Bitcoin Cash for some time until it breaks the channel.
End words
Too bad, HitBTC doesn’t have Cardano (ADA), so no analysis for it. I would try to publish these analysis every Monday: Bitcoin, Crypto (currently all large cap), and Steem & SBD. If you want me to analyze other coins, please write it at the comment section and I’ll try to publish one. Don’t forget to follow, upvote, and / or resteem. :D
If this blog post has entertained or helped you, please follow, upvote, resteem and/or consider buying me beers :
BTC
ETH
LTC
DOGE
XMR
BTC : 1HqYTjRdZvss32vDrp1T8gRAXTgdqfZ6VS
ETH : 0x1fc22bC528ceE3DaA39555269b70e287dda9aE3E
LTC : LdEiGzjcG36EoZoezDu6rZmdwVcSJHazfr
DOGE : DMYx1w5Sr4uoMnNWymn5nMpCuySSr178TA
XMR : 46QngrRwYgAbQJzW2ZJZ8HEuirkUW2bw84ajWhk73DLG8iT9NqgfzSU4ddRZbeAaLgFeL6gAxzVtGZPHJhFmCDXF3ZEwimT