Cryptocurrencies Review

Bitcoin BTC/USD

Price bounced exactly when it should have. Right when the 61.8% Fibonacci retracement was breaking, the reversal came and gave some hope to bulls, that a major low is in….is it?

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The green trend line resistance is a key level bulls must break upwards. A rejection at current levels would be a big disappointment. Support is at 9050-7800. Break it and we or off to new lows.

Ripple XRP/USD

Very weak bounce despite the exit-off the downward sloping wedge pattern. Price still remains below the 23.6% Fibo level. This is bad news. Bulls must show some strength signs by breaking the 38% and 50% retracement levels, otherwise, expect new lows….

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Etherium ETH/USD

Price made a strong bounce off our target area at $627 BUT price action is not impulsive and price remains below the important black TL resistance. Moreover, price has broken below the short-term green trend line. I believe we can see new lows here.

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Litecoin LTC/USD

This was our preferred bullish coin and it gave 100% performance from its lows. Price broke out of the bearish channel and is moving in an impulsive way higher. The trend remains bullish. Short-term support is at $202. If broken we could see price back towards $180 but I believe the trend will continue to be bullish.

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I believe a major low is in for LTC/USD and has started its next leg up that will eventually break to new all-time highs. This scenario is canceled on a break below $100.

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Alpha Stockman 6 years ago Member's comment

Are there any #cryptocurrencies worth following other than #Bitcoin ($BITCOMP), #Ripple ($XRP-X), #Ethereum ($ETH-X) and #Litecoin ($LTC-X)?