Cryptomarket Analysis July 16
Main page Finance, Cryptocurrency, Bitcoin, Ethereum
Hot topic
16 July
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What happened with bitcoin, ethereum and dash rates over the past weekend.

Bitcoin

Currently, bitcoin (Bitcoin) is consolidating in the $6,323 – 6,389 area . Today, the most probable scenario proposes that a test in the direction of $6,532 is highly likely.

Daily Scenarios

1. Bullish

The main target of the bullish scenario remains the $6,520 – 6,538 area. Buyers need to control this area for a further attack on $6,640 and $6,727.

2. Neutral

Neutral scenario predicts further consolidation in the $6,300 – 6,396 area for the ‘energy saving’. Test of both of its borders is possible.

3. Bearish

Bearish scenario provides an unsuccessful test of $6,400 and a decline to the $6,222 – 6,266 range, which should lend some support.

Ethereum

Ethereum (ETH/USD) attacks the $453 level and a downtrend. As it was noted earlier, the breakthrough of this trend may mark the transfer to the sustainable mid-term growth.

Daily Scenarios

1. Bullish

Bulls may meet a small consolidation in the current area, an attack at $453 followed by a movement to $466 – 472.

2. Neutral

Neutral scenario proposes a consolidation in the current area ($442 – 453) with a slight drift in the $445 direction.

3. Bearish

Bears may see a decline in the $426 – 442 range and a test of its lower border.

Dash

Dash (DASH/USD) forms a descending wedge. The exit from this wedge may simultaneously coincide with the turn of the rest of the market.

Daily Scenarios

1. Bullish

Today, the main task for buyers is the attack of the $235 – 237 area (the upper border of the wedge). In case of its breakthrough, growth is likely to reach $246.

2. Neutral

It’s possible to wait for a test of the $232 level and a decrease to $227.

3. Bearish

Bearish scenario implies an unsuccessful upwards test and a subsequent rollback to the $219 – 222 area.

Trading in the cryptocurrency market is associated with high risks and is not suitable for every investor. The above analysis should not be considered as a recommendation or a call to action. Each trader should assess the risks for themselves. Both the author and Insider.pro are not liable for the potential losses incurred.

By Yana Sher

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