Top 3 Price Predictions Bitcoin, Ripple, Ethereum: Russia sees Bitcoin as the key to accessing the capital market
- After the sharp rise, the sales motives are emotional and not technical.
- XRP is doing fine and it doesn’t wrinkle in the face of criticism.
- A Russian analyst speaks of government purchases worth $ 10 billion.
It is dawning in Europe with declines among the top three Cryptocurrenciesignores the news from Russia about its intention to transfer part of its huge foreign exchange reserves to the crypto market, especially to bitcoins.
Vladislav Ginko, a cryptocurrency analyst who advises the country’s presidency on these issues, said the Russian government will prepare a $ 10 billion investment for the first quarter of 2019 out of a total planned investment of $ 470 billion . It is also said that the country’s financial giants are urging their money managers for information on how to convert millions of dollars into bitcoins.
Investment funds in Moscow are inundated with inquiries from wealthy Russians “how to buy multi-million dollar bitcoins”.
– Vladislav Ginko (@martik)
No member of the Russian government has confirmed the news. And right now it doesn’t seem like the market gives it too much credibility. If confirmed, it would be a real revolution and take the status of Bitcoin to a new, higher level.
BTC / USD Daily Chart
The BTC / USD pair is currently trading at the $ 3.779 price level and fell more than 5% in the session. Technically, the move didn’t change the previous scenario, but it is putting pressure on Bitcoin, which hasn’t moved away from relative lows in recent weeks.
The arrival of equilibrium levels in the MACD tends to lead to a rebound in the MACD as many traders mark these levels as signals for profit and others benefit from the movement in the short term.
Below the current price, the first level of support is at USD 3,700 (price overload support). The second support is $ 3,600 (price overload support). Under current prices, BTC / USD would lose its upward momentum and the media gates of hell would open again. The third level of support is at $ 3,275 (price overload support), a level that would test the nerves of many traders.
Above the current price, BTC / USD shows the first resistance at the price level of USD 3,900 (price congestion resistance). The second level of resistance is at USD 4,120 (EMA50). The third level of resistance is at USD 4,400 (price congestion resistance). This final level of resistance is fundamental and if crossed could lead BTC / USD to a period of steady increases.
The daily MACD shows exactly how the transition from the bearish indicator to the bullish zone coincides with the loss of bullish strength. This chart structure is a typical pattern and sign of weakness that can extend over a few days.
The DMI in the daily range shows us how convinced the bears are of the decline and react to the increase until they reach the same level as the bulls. The cops, on the other hand, have barely lost any of their intensity, so it doesn’t look like it was the lack of bull belief that triggered the falls.
ETH / USD daily chart
The ETH / USD is currently trading at the price level of USD 133 and penetrating the EMA50 on a daily basis. It is a major sign of weakness that ETH lost support for this exponential average after rising for just a week.
It is also strange and pernicious that this weakness should appear before the approach to the fork of Constantinople. This type of event attracts a lot of interest and the asset tends to rise sharply.
Below the current price, the first level of support is at USD 125 (price overload support). The second level of support is at USD 117 (price overload support). The third level of support is at $ 110 (price overload support). If ETH / USD loses that support, it has missed all of the upward momentum and the consequences could be significant.
Above current price, the first and foremost target is the first resistance at USD 138 (EMA50). Restoring at the end of the day would make the move anecdotal. The second level of resistance for ETH / USD is at USD 142 (price congestion resistance). The third level of resistance is at $ 155 (price overload resistance and SMA100).
The daily MACD shows a bearish cross profile within the bullish area of the indicator. The normal pattern should bring the averages to zero to neutral in the coming days. From that point on, it should cross the bullish channel again to resume the bullish trend.
The daily DMI shows a profile similar to that of the BTC / USD pair. The big difference is that in the case of Ethereum, the cops are hesitating and pulling back. The bears smell fear and climb very aggressively to the level of the bulls without getting past them.
XRP / USD Daily Chart
XRP / USD is currently trading at the price level of $ 0.348. This price coincides with a support level for price overloads. XRP has been behaving better than Bitcoin and Ethereum for four days. It goes down like her, but with less intensity.
Below the current price, the first level of support is at $ 0.345 (price overload support). The second level of support is very far away at USD 0.32 (price overload support). The third level of support is at $ 0.297 (price overload support). If XRP / USD loses the $ 0.336 price level, it will enter the area of the gap that was left on December 5th and this would complicate the situation significantly.
Above the current price, the first resistance is at the price level of USD 0.368 (price congestion resistance). The second level of support is at USD 0.373 (EMA50). Above this second resistance, we encounter Ripple’s “problem”: a bullish hole that hits $ 0.412 (price congestion resistance) and undoubtedly consumes a lot of capital to capture it.
The daily MACD shows a horizontal profile and above the neutral line of the indicator. The complexity of the structure results from the lack of volatility and trend strength. To restart, XRP will likely need an external catalyst.
The DMI in the daily range shows an absolute bond between the bulls and the bears. Both are below level 20, reflecting the lack of trend just mentioned. The bears rise significantly, but the bulls do not crochet out and hold the position.
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