The review of the market for last week and the forecast on February 25 — on March 3 Velvet Follow Feb 27, 2019 · 2 min read

BTC/USD

In general the last week can probably be called a “Breakthrough”. The bitcoin was trading in the range of $3570 — $4200. On average, its cost changed by 30 percent. Such movements frequently forebode a global trend change.

On February 18th in the midnight (+3UTC) the price surely went up and gained $300 in cost on Monday. It should be noted that the market was not equal. Practically all movements are unidirectional and lack strong shadows. From February 19th to February 23rd the price was trapped in the flat channel formed earlier: $3800 — $4000. But it also proves the purposive growth, as the previous channel framework varied from $3500 to $3700. In the monthly average, the price gained $ 200. Talking about the global picture of a crypto asset movement, there are no obvious changes. The current week we recommend to work with the descending movements. Timeline: M15 and M30.

Resistance levels:

R1: $ 4200

R2: $ 3950

R3: $ 3700

ETH/USD

Last week Ethereum traded in the range of $123 — $165. In general, the ascending trend prevailed. However, since the beginning of a new week the price is not likely to test new maximum values. On February 26th the cost of ETH reached $136.

Recommended price of an entrance for this week is $120.

Support levels:

S1: $ 124

S2: $ 140

S3: $ 148

XRP/USD

Last week trade began with the minimum value of 0.29$. On February 19th at 10:00 (+3UTC) the market reached the maximum value — 0.34. Though the level of volatility was high, such situations are considered to be the most unstable on the market. There were several sharp turning movements to prove this. On February 24th at 13:00 (+3UTC) a crypto asset returned to the price of opening and made $0.29. However, this week the cryptocurrency price increased again because of the news that Coinbase has included XRP in the listing. At the moment its cost is $0.31.

The current week we recommend to trade from the established level of resistance of $0.31. Favorable timeframes for the short-term period work only — charts M5 and M15.