BTC/USD gained 20,93% in February, 58,29% from last month lows

Timing is everything, also in Crypto trading

The performance during the month of February of the main Cryptocurrencies has not left everyone happy, having been a very positive month for holders of Bitcoin, Litecoin or Monero, but quite disappointing for Ethereum, Ripple or EOS investors. The first group managed to attract capital after hitting lows, while the second group has not been able to do so after dipping.

Let's take a look at the Crypto table performance:

As we can see, the results show how important is the "when" in the markets, sometimes even more important than "what" investment to make, when we are chasing a high-yielding asset. The most eye-popping example is Ethereum, which has fallen over 15% in the month, but still has returned an amazing 25% of return for the ones that managed to buy at the lows set last week.

If we set our sight back to the analysis published during February, we can't say it has been a month of high returns, but the few who decided to buy Bitcoin or Monero at lows have managed to take spectacular gains of 73% or 58%. That is easier said than done, as buying at lows requires overcoming the most fearful moments in the markets, just when the outlook seems less favorable to bulls. 

Comparative chart

Taking a look at the comparative chart we build with our Interactive Chart tool, we can clearly see how Litecoin started the month with a good tone, falling less than the rest from February 5th and 6th lows, and later outperforming their Crypto pals by a good margin. It has been the month of news crossing the wires about a new Litecoin Cash fork which was later denied by Litecoin's founder Charlie Lee.

Bitcoin close to catching "clean air"

Using aerodynamic terms, Bitcoin is trading just below the line that separates it from a "clean zone", where it can fly without finding any turbulence. If able to break above and enter that area, BTC would leave behind the bearish outlook to continue within a bullish channel that has ruled the price action since touching lows, but with no more technical barriers above.

MACD in the Bitcoin chart shows an exhaustion pattern, which is not the most favorable one for a cross in the trend line.

Directional Movement Index shows a certain loss of bull strength, but the pattern still gives room to more rises. Sellers keep losing steam, so the odds of a bullish cross are high. If that happened, Bitcoin would probably take a breather.

On the upside, the aforementioned trendline is located at $11375. If BTC/USD breaks above there, the next target is at $13000.

On the downside, the first support is at $10350, where the 50-SMA and the 100-SMA. If that level gets lost, it would follow down to $10100.