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Technical Analysis Cryptocurrencies August 2

The market for cryptocurrencies continues to fall, driven by this low by Bitcoin, the cryptocurrency that has more than 55% of market capitalization.

The Bitcoin can not break the downtrend that brings from late 2017 and early 2018. It has two great resistance to overcome if you want to try again exceed 20,000 dollars, first in the short term the $ 8,500, this is a great trend bearish that aims at the 2,000 dollars.

On the other hand in the short term has to exceed $ 10,000, where the Bitcoin has a resistance in price and also psychological. To break the $ 10,000 would qualify the $ 12,500.

In the short term, the strong selling RSI signals a bearish continuation to possibly $ 7,200, the MACD in weekly shows weak selling, since the volume is not accompanying this fall.

Monthly there is a bullish divergence, possibly with volume allowing Bitcoin to position itself above the long-term downtrend, and go for higher prices.

Ethereum and its cryptocurrency ETH: Ethereum is another of the cryptocurrencies that usually accompany the decline of Bitcoin, we must remember that both Ethereum and Bitcoin have a total of 70% of the market in capitalization, so the decline of these digital currencies tend to be accompanied by almost the entire market.

Ethereum still can not recover the position of the $ 850 that it knew to have at the beginning of the year, it continues in a long-term bearish trend. To break this bearish trend you need to break the $ 500 and then the $ 750, where the $ 1,000 would be enabled. In the short term the RSI giving sale as the MACD, the positive is that this low is not accompanied by the volume that used to bring, so we can come to think that it will have a rebound in the $ 400, strong support.

Ripple and its digital currency XRP is the only one that is advancing in a bear market, possibly because the company brought good results in its second quarter balance sheet. In the short term it has to overcome 0.50 which would enable the dollar per unit. MACD giving moderate purchase and RSI strong purchase. The volume is not good.

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