Analysis of BTC/USD, ETH/USD and XRP/USD cryptocurrency pairs on 12.11.2019
Yesterday the bears resumed their activity and managed to pierce the daytime EMA200. The BTC price bounced back from a low of 8593.00 USD and remained in a narrow consolidation of around 8700.00 USD until morning.
We still believe that the re-test of 8500.00 USD remains relevant. If it really works as a support, it is possible to restore the BTC price to 9000.00 USD.
Yesterday the sellers sold the hourly EMA555, but by the end of the day, the pair managed to stay in consolidation under this average price level. At night, the sellers set a low around 183.00 USD.
We believe that today, after the re-test of the POC line, the price will be able to recover to the level of the EMA55 moving average.
Yesterday morning bears continued to dominate the market and rolled back the XRP price to 0.269 USD. They failed to test the support at 0.260 USD – at night the buyers tried to return the pair to the average price area.
Now the price is consolidating at the level of 0.270 USD, but sellers are still set to re-test support at 0.260 USD.
*All price values are given based on the data of BitStamp