Report: Cryptocurrencies Market Insight :: 6 March 2017

BTCUSD: Bitcoin is setting the fourth trendline unless price stabilizes around $1 275. With ongoing bullishness the price correction eminent. The price had not touched MA21 in 25 days, what means that withing 7 days it is very likely to do so. Price peaks are in reverse with RSI peaks (chart below). ETF decision is only a week away. Putting this factors together there are likely two scenarios, temporary price dip/correction to $1 200 in a couple of days, and in case ETF is approved — price shoots to the moon, and it is hard to predict what will happen then. ETF is not approved, and the price tumbles heavily correcting itself to around $1 000 or even below. We are likely to see a volatile week anyway. Brace yourselves.

The premium at local bitcoins as of right now is more than $200 which might signalize the influx of retail investors into bitcoin who also want to catch ETF hype train: https://winkdex.com/graph#?exchanges=winkdex,localbtc&range=6M

Daily chart:

ETHUSD: After shooting to new highs, ethereum is finding its new balance at sub $20 price level. MA21 has not been touched in 24 days, which means that is very likely that price will dip to its levels around $16–17 in the next week. At the same time RSI peaks are also increasing one after another, what is a healthy sign of growth. Daily chart:


We are the Argon Group: the only technology-first investment bank focused exclusively on the digital finance sector — the emerging crypto-currency and token-based capital markets. We provide financial advisory, placement, and technology services to companies seeking to raise equity, debt, and non-dilutive capital. For ICO advisory contact us via info@argongroup.com

Leave your vote

428 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Leave a Reply

Your email address will not be published. Required fields are marked *