Weekly Research and Market Strategy 17 August 2020

August 19, 2020

Total Crypto Market Capitalization

In the past week, the total crypto market capitalization can go beyond the resistance line (red line). However, we can’t be confident if it will stay or go back down because the “Indicator RSI” shows “Momentum Divergence”

The price is still on an upward trend. It’s fluctuating around the upper border of the channel. If the price went back down, investors should consider selling.

Crypto Compare

Crypto Top 10 Market Cap

Technical Signal Trading

Bitcoin Strategy

In the past week, Bitcoin was stuck within the resistance line (Red line). Although the price was on an upswing, the slope was obviously lower as indicated by RSI and Price Action.

When the price is hitting the resistance line like this, the strategy is to wait and buy once the price moves down lower relative to the zone (see the zone from the previous weekly researches).

Ethereum Strategy

In the past week, the rise of ETH’s price has been outstanding. The price is consistently going up with a steep slope as the price spiked in a very short time. One thing to keep in mind is “Indicator RSI” shows “Momentum Divergence” so investors should be more careful.

Ripple Strategy

XRP is still moving within the same zone, even though it went back down to the lower border, it could go back to the same level as before. Investors trading XRP can use the “Trading in Range” strategy, which means buying and selling at the border line. The strategy can be changed whenever the price goes beyond the resistance line to the next zone.

Litecoin Strategy

LTC can reach the upper Zone. This is a good sign even though RSI seemed to be weakened. It’s interesting to see whether it can stand on this price for a long time. However, investors can try trading in the upper zone, which is a 70-60 zone. When it shows a good sign, investors can buy it.

Bitcoin Cash Strategy

BCH’s price is consistently increasing to the upper border of the zone in the past week. The increase may be less than other cryptocurrencies in terms of percentage. However, a good thing about BCH is that the pattern of movement is simple and it’s easy to manage strategy. Investors should closely monitor whether BCH can reach the upper zone.