Cryptocurrencies Market Insight :: 20 February 2017

BTCUSD: Bitcoin has been growing steadily along the trendline shown in the previous mail. Though current price peaks are somewhat growing on a timeline, corresponding peaks for RSI are declining (look at two black lines). Such signal usually signals a short-term decline in price. Daily chart:

On an hourly chart, it is a more clear decline trend after some fast paced growth from 15th:

At the same time bitcoin moved from China to Japan and Japanese exchange Bitflyer, Quoine and Zaif are currently among the top exchange by volume: https://coinmarketcap.com/exchanges/volume/24-hour/all/


ETHUSD: Etherium price has been super steady lately, what is not necessarily a good sign. Some price fluctuation is healthy while being at the same price level with minimal volatility for three straight days is not. Especially for crypto. Apparently, the market is waiting for more news and is just waiting for additional disclosure about Enterprise Ethereum. 

Hourly chart:


ETCUSD: As we mentioned in the previous update, the price was fragile and inclined to decline slowly. That has been exactly the case so far, though decline itself was not significant. For now, we do not expect to change, unless new signals or news appear.

Hourly chart:

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