Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument is breaking below the 200 SMA 550 level and is confirming a break. The key level for the downside continuation is 440 followed by 340 level. A break below is opening more downside. Look for the sell trades with the SL above the 570 level.
Bitcoin – the instrument is breaking below the 9000 200 SMA level of the downside resistance and we are seeing the downside continuation into the targeted extension 3000-4000 zone. Look for the sell trades as indicated in our top-down bitcoin trading analysis.
Litecoin – the instrument has bounced off the 130 support level and is trying to break higher. Consolidation price action between the triangle 130 and 210 level. Stay away from the trade entries for now.
Ripple – the instrument is breaking the 200 SMA 0.62 level. Look for the sell trade entries with the stop loss above 0.66 level.
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