Cryptocurrency market has seen a significant jump in overall market-cap with the addition of $10+ Billion recently and can see the effect on top performing cryptocurrencies.
Overall market-cap has jumped from $120 Billion to $132 Billion at the time of writing which shows bullish momentum for coming days/weeks. Let’s have a deeper look at the 5 best cryptocurrencies 2019.
#1 Bitcoin: BTC/USD (Coinbase)
Bitcoin pair has seen a price surge of around 18+% after testing the support level $3400-$3300 mentioned in the previous article. It has proved to be the most valuable cryptocurrency over the period.
Let's look at the 4-Hour Time frame chart for analysis.
Click here for the Charts, I am not allowed to post images.Bullish Case:Bitcoin pair is testing a preliminary resistance (red bar) around $3900 price level, at the time of writing. We might see a healthy pullback to $3600+ price level and needs to hold for further bullish momentum.
Also, if the pair manages to break the major resistance level around $4200 then it would be strongly bullish and we might test $5000 level in the coming weeks.
Other bullish signs are that the pair has crossed the 200H-SMA (Simple Moving Average) and accelerated through the Ichimoku cloud which will act as preliminary support in the near future.
Simply put, buying around $3600 price level with tight stop-loss, can be profitable for traders as well as investors for coming weeks.
Bearish Case:If the support level $3600+ doesn't hold in the coming days then it would be early signs of the bearish sentiments and breaking $3300 level after would be super bearish for the pair.
STOCH-RSI and MACD are also moving into bearish zones which depicts a pullback.
Simply put, if someone bought at around $3600- price level then it should sell asap if the $3300 price level breaks downward.