Apple co-founder Steve Wozniak believes that blockchain technology and Bitcoin will reach their full potential in a decade. However, with many crypto enthusiasts trying to bring technology to mainstream use, acceptance could come much sooner.
As it is a new asset class, there could be danger of possible scams. According to a study by The Wall Street Journal, about 18.6 percent of the initial offers of currencies (ICO) used "deceptive or even fraudulent tactics." This is the reason why investors should not allow greed to cloud their judgment while doing due diligence.
BTC / USD
Bitcoin has not managed to attract buyers. It has continued to decline and now has a fundamental support of $ 7,941.68. If this level is broken, the digital currency will fall to $ 7,000. The SMA of 50 days is flat and the EMA of 20 days is in low, reason why a bearish tendency is observed. This is a negative development.
If the support remains at $ 7,941.68, the bulls will try a setback, which will face resistance in the moving averages.
We can confirm that the BTC / USD pair is subject to a range once the price breaks the 20-day EMA. As it has not yet bounced on the supports, we are avoiding any purchase recommendation.
ETH / USD
Ethereum continues to outperform the other major cryptocurrencies. It is well above the 50-day SMA and just below the 20-day EMA. He is trying to hold the neck of the bear head and the pattern of the shoulders. He is trying to hold the neck of the bearish pattern of the head and shoulders.
As the 50-day SMA continues to rise and the 20-day EMA is flat, we do not expect the ETH / USD pair to be reduced to $ 418 in a hurry.
We anticipate strong support in the 50-day SMA, which is close to the 50 percent retracement levels of the $ 363 to $ 838 hike.
The first bullish sign will be a break of the 745 dollar levels. Until then, each attempt to retreat will encounter strong downward pressure.
BCH / USD
Bitcoin Cash has completed the head and shoulders pattern, which gives it a lower goal of $ 650. Currently, it is close to the 50-day AME, which could act as a support and a pull back to the neck of the bearish HyC pattern is likely. If the bulls fail to climb above the neck, the chances of a break increase.
As the BCH / USD pair had risen vertically from $ 777.5304 on April 18 to $ 1,590.7825 on April 24, there is no support between $ 800- $ 1,130. Below the 50-day SMA, the cryptocurrency can fall to levels of $ 800 where you can expect a purchase.
We suggest waiting for prices to stabilize before buying. Catching a falling knife can be dangerous.
LTC / USD
Litecoin has been operating below the 50-day SMA for the past three days, which shows a lack of purchase even at these low levels. The bulls are trying to defend the $ 127 levels. If this level is broken, it is possible to slide to $ 115 levels.
On the positive side, any rebound to the 50-day SMA or the 20-day EMA will attract sales. We remain low in the LTC / USD pair until it shows a consistent purchase.
The trend will change only in one break and close above the $ 170 level. However, if the digital currency falls to levels of $ 115 and remains, we will risk a purchase.
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