Crypto news - Which ones to follow?


Crypto News – Bitcoin continues to amaze its growth, followed by Ethereum. When the liquidity crisis came about a month ago, and world markets began to collapse, Bitcoin halted its fall to $3,800. Today it is already at $7280. This means a price increase of more than 80% in about 26 days. Those are good numbers. And this “amazing” growth is why I am still worried about a more significant decline.

There are several reasons why this growth does not suit us: 

Crypto news - Bitcoin chart

1. The growth angle is too sharp.

This is very common in traditional markets. “Fast V” is the moment when the price falls, but at the same time, it also scratches up and goes to a new maximum. In the case of cryptocurrencies, I have not seen anything like this on the daily chart since 2016. In the traditional markets, this phenomenon happens in the vast majority of cases due to central bank intervention or influential people around the world. Perhaps it is worth mentioning Trump’s Twitter account, who can often turn markets into a growth direction.

2. Volumes are low

Usually, the first indicator I notice are the volumes. If we were to grow at such an angle, and the size of purchases was huge, it has an entirely different informative value. Unfortunately, buying volumes are low, and it gives us more the inside idea that it is growing because there are no increased sales in the market. So, we need to wait for more Crypto News to show what it will be like.

3. Indices are also growing

In recent weeks, this correlation has often been compared many times. As the indexes grow, so do the cryptocurrencies. The S & P500 has also found its bottom, and from there, it becomes upwards similar to Bitcoin and Ethereum. Therefore, it is possible that when the second wave of panic and sell-offs comes on the market, the cryptocurrencies will fall again.

4. Nothing is resolved

This point could be applied to the overall markets. Markets are growing. Therefore, nothing has been solved so far. And there is no reason to hope it to change to new heights. The economic impacts on the economy are about to come. Therefore, I rate the current growth as just temporary.


Crypto news - Ethereum chart

As the Crypto News show, the second-largest Altcoin, Ethereum, is very similar to Bitcoin. In terms of technical analysis, we are getting into a robust, resistant area. It is also worth mentioning a nice increase in the RSI, which has created a trend line. On cryptocurrencies, it is usually that the market is still able to create a new maximum in price. The RSI indicator will already create a lower HIGH. This phenomenon is called divergence between price and RSI. The word divergence means inconsistency. So, the prices and indexes are not consistent. Similarly, I have seen the situation on the market for years. I think something similar will happen here, and it is only a matter of time. The price on Altcoins comes nicely to our target and at Fibonacci level 0.382. RSI will break the trend line downwards.

If you want to follow these cryptocurrencies, you can do so right here.