Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument is breaking below the 200 SMA 414 level and this break is now valid for the downside continuation into the 317 level and the further extension to 140 level lower.
Bitcoin – the instrument is breaking below the 9000 200 SMA level of the downside resistance and also the long-term rising trendline 8200 level. From here 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 broken below the consolidation triangle 150 level. This break is validating the downside continuation with the next resistance at 100 level. Look for new sell entries on a break below this level.
Ripple – the instrument is breaking the 200 SMA 0.62 level and the horizontal support 0.57 level. The next downside target is 0.38 level. Look only for the sell trade entries with the SL above the 0.57 level.
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