Bitcoin
BTC$67 685.77

-1.74%

Ethereum
ETH$3 856.07

-1.86%

Tether
USDT$0.999067

-0.06%

Binance Coin
BNB$597.03

-1.13%

Solana
SOL$169.71

0.71%

USD Coin
USDC$1.000181

-0.01%

Cryptocurrencies: Is winter coming?


18 Nov 2021

#Bitcoin

Bitcoin is trading in a 1% range with no pronounced momentum near $60K, losing 0.5% since the start of the day but up 0.5% to levels 24 hours ago. Cryptocurrency market capitalisation rose 1% to $2.62 trillion overnight, adding to altcoins. The Cryptocurrency Fear and Greed Index added 2 points to 54, remaining in neutral territory. In September and May, this shift in sentiment contributed to a prolonged, more than a month-long slump in the cryptocurrency market. But despite the deep correction, the market has remained in a long-term bullish trend this year.

In 2018, the onset of crypto winter was only after BTCUSD and ETHUSD sank below their 200-day moving averages. They are now at $48K and $3.8K, 20% and 10% below current levels, respectively. Above these levels, it only makes sense to talk about corrections within a bullish trend. These indicators are still valid now. Sharp and high volumes falling under these lines will be considered the beginning of the new crypto winter.

Looking more locally, the latest consolidation in the crypto after a downward momentum is hardly a good sign. We pay attention to the cautious approach of bulls, which are not in a hurry to buy and waiting for more precise signals for buying.The graphical picture is quite problematic at the moment: bitcoin is drawing its fifth consecutive daily decline candle, and each intraday low is lower than the previous one.

On the data analysis side, bitcoin on the daily charts keeps looping around its 50-day moving average, which has been assuming the role of a trend indicator for a few years now. A collapse and consolidation below that line (today passes through $59.4K) risks triggering an even bigger capitulation by buyers, who may rush to lock in profits after the rise in October.

The picture for Ether is slightly more optimistic. By the end of the day yesterday, ETHUSD had fumbled for support from buyers, holding it above the 4000 level. This former resistance level now serves as solid support for traders relying on tech analysis. However, a wider range of investors would probably prefer to see reliable signs of price gains and not rush to buy near the critical line. Bulls and bears are now clearly aware that opponents may be holding plans for a new attack near important levels.


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Bitcoin set for a deeper correction
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Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 77.2% 43 $67 685.77 -1.74% -4.06% $1 333 720 305 958 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 67.6% 70 $3 856.07 -1.86% 2.36% $463 258 843 200 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $0.999067 -0.06% -0.07% $111 860 875 075 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 88.8% 6 $597.03 -1.13% -2.61% $88 113 124 808 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 67.6% 73 $169.71 0.71% -5.16% $76 285 696 632 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000181 -0.01% 0.02% $32 486 438 065 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 92.8% 6 $0.528184 -0.83% -2.87% $29 277 463 978 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 72% 50 $0.162784 -4.05% -3.48% $23 518 429 286 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 68.8% 64 $6.37 -1.95% 0.04% $22 123 822 286 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 86.4% 19 $0.455335 -2.37% -9.08% $16 253 111 127 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 78.8% 33 $0.000026 0.32% -1.72% $15 102 955 216 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 72.8% 52 $36.79 -2.29% -9.28% $14 455 407 164 AVAX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 62.8% 82 $18.08 3.86% 6.92% $10 616 334 015 LINK 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 78.8% 42 $68 003.07 -1.36% -4.11% $10 570 844 156 WBTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 83.2% 33 $7.31 -2.59% -3.52% $10 506 078 807 DOT 7 days price change

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