empty
 
 
13.02.2020 03:13 PM
BTC analysis for 02.13.2020 - Watch for potential downside on the BTC due to overbought condition and rejection of the median line, downawrd target set at $9.723

Industry news:

This image is no longer relevant

In 2019, the total volume of nine leading blockchain networks reached 10 billion US dollars, which is 158.5% of the values of 2018. At the same time, the number of active DApp users doubled in 2019 and reached 3.11 million, 89% of which are newcomers. On the one hand, this is excellent statistics: user awareness and engagement are increasing, but there is a problem with their return.

Nowadays every second DApp is a representative of the gambling sector and it's the only type of DApp having over 1 million new users. Why did this happen and will this trend change in the near future? The gambling sector will likely continue to occupy one of the leading positions in this market. However, its main competitors are already clearly visible. Financial services such as lending DApps showed the greatest progress in 2019: the number of their users increased by 610% (while the number of gambling users increased by half less - 372%), transaction volume grew by 251% (the volume of gambling DApps increased by 98%). Such progress allowed finance DApps to become the second-largest sector of the whole DApp ecosystem.

Technical analysis:

BTC has been trading downwards as I expected yesterday. I found the breakout of the support trendline in the background and new momentum down on the oscillator, which is sign that sellers became active.

Watch for selling opportunities and potential rotation down towards the $9.725..

MACD oscillator is showing increasing on the selling power, which adds confirmation for further downside.

Major resistance is set at the price of $10.500

Support level and downward target is set at the price of $9.725.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $8000 más!
    ¡En Marzo, sorteamos $8000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback