11-19 Price analysis of BTC and altcoins from Chinese Market (Shared by AICoin)

BTC:
BTC went through a shocking move within a small range today, and has been moving sideways in a consolidating pattern above $7,450 for the past 3 days. The fact that BTC didn’t move up and try to break above all-time highs indicates that bullish momentum is fading out. The period from now to 8 AM tomorrow morning is an important time node for BTC price to prepare for the upcoming session. If price goes up tonight, we can still hold what we have, if not, it means price goes into a short-term bearish trend.
Judging from 5-Day MA, the remaining hours of today play a significant role on the further direction as price moved around it in the day time. For day traders, more attention should be paid on the overall price status, if price can’t break above 5-Day MA, a large-range of adjustment is very likely to fall on BTC price action in the next 1 or 2 days.

ETH:
ETH is absolutely the strongest one in price action among main coins today, for those holding bottom-level chips, you should stick to our 5-Day strategy and never let the fortune go easily.

LTC:
Like what we said on November 13 – “LTC is the one who will stand up and follow the uptrend after the battle is over among altcoins. It also intends to use up your patience and keep silent when altcoins prices skyrocket. Suddenly, it surges and leaves you almost no time to catch up with the trend”, right now, LTC is still preparing for its trick, we can hold on to our shares and wait for the rising wind to take us into the sky.

ETC:
The intention of an upward shocking move at present level is obvious, indicating that market is digesting the positions once locked up with signs of buying in at bottom level. LTC, as one of the main coins, still seems bullish in the long term.

BCH:
BCH seems to be the exception among main coins, I had been bullish about its short-term performance, but the violent price increase in the past few days changed my mind. BCH deserves a higher valuation as it’s only 15% of BTC price now. My opinion that BCH price will be above 50% of that of BTC in the long term stays the same.

Altcoins:
The future of altcoins depends on BTC, if BTC fails to be pushed up above 5-Day MA tonight, it’ll be a great short-term chance for altcoins to be noticed and recover.

Original by Kuang Ren, translated and posted by AICoin Jami.