Total Crypto Market Capitalization
Over the past week, digital assets have slightly plunged down. This significant correction is a real deep downturn from the peak of the crypto industry. Whether or not is this a downtrend, we must consider whether or not it is getting lower? Let’s find out on our weekly report and we will definitely survive this downturn together!
Technical Signal Trading
BTC is floating out of Trailing Stop, as the moving average that we priced around 55,000 BTC/USD last week. Anyone who followed take profit and stop loss must have survived through 20% of the downturn within the past few days.
We need to focus on correction. If the formation of the highs and lows are getting lower, we can say that we are in the era of ‘Downtrend’. However, if the price rate remains around 40,000 BTC/USD, we might to reconsider our strategies.
After ETH popped down from the Trailing Stop, it seemed like it will not rise back to the moving average for a while.
We can say that this is the downturn is not good for trading at the moment. Follow the Dow theory, we should consider the formation of the Correction in order to make the best prediction on the investment.
XRP continues to be on the downtrend. However, it is in the safe zone. It is crucial that we focus on the moving average in the short-run to.
As we can see here, XRP’s formation continues to be on an up-and-down around 0.45-0.4 for a while. All we can do now is wait and focus on the technical side. If the price is steady enough, buy signal will tell us what to do.
LTC is plummeted. However, if you stick with the Trailing Stop that we guided you last week, you will be just fine. The technical support seems to be the most trusted around 150 LTC/USD which is the fund base distribution from earlier and is the main support of the zone.
However, looking at the support is not enough, we might have to focus on something else like indicators, price patterns, candlestick pattern and etc.
Gold is at its downturn again.
If you are the ‘Long Only’ type of investor that is willing to buy only. when it comes to downtrend that the price is getting lower, support type of buying at its lowest line is the best way to get the lowest price.
Strategy from ZIPMEX
However, Zipmex will not take any responsibilities for the above analyses. Investors must realize that every investment is at risk.
Please use your own judgement when investing.