Cryptocurrencies trading analysis and signals for Bitcoin, Ethereum, EOS, Ripple
Ethereum
As predicted in our Ethereum top-down analysis the instrument is testing previously broken upside horizontal resistance 350-400 zone. It is reacting on 350 and is bouncing off this level. As long as the price action is above 300 we are targeting 480-500. We can expect a possible retest of the 330 again before an extension higher. We had a retest and the instrument broke above 350 for the upside continuation to 488.
Bitcoin
BTCUSD has broken above the Inverse H&S neckline 10500 and a falling channel 9500. Resistance turned support now is 10500. Build a buying position against the 10300 to target 17000. You can add more size upon a break above 12315 or here on a pullback Inverse H&S retest of 10000. Consolidation before a new directional swing which will end with a break above 10500.
EOSUSD
EOSUSD is retesting the broken longterm upside resistance falling line 2.70-3 zone thus giving us a perfect chance to play on this reversal upside breakout as it should be played. Waiting for the price action bounce. Among cryptocurrencies, this could be the best RR trade.
RIPPLE
Ripple has based and has broken above the long-term falling trend line 0.2120. The strong upside resistance remains 0.3259 and a break above will lead to a continuation higher to 5. Build buying positions for a breakout or buy after the clear confirmed breakout above 0.3260. The instrument has formed a bullish pennant for a continuation higher with clear support at 0.22 and we need to see a break above 0.26.
