Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument is breaking below the bearish flag 600 level and is extending the downside to a first possible target of 414. Look for the short trade entries with the SL level above the 600. The downside pullback support zone is 650-700.
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Bitcoin – the instrument is breaking below the 7300 level for the downside extension into the 6439 key level. Look for the sell trade entries with the SL above the 8000 level. The downside support zone is 7500-8000.
Litecoin – the instrument has broken below the bearish flag 140 level and we could see a downside extension into the key support zone 97-110. Look for the sell trade entries only on a break below the 97 level.
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Ripple – the instrument is pulling back in a consolidation to test the 0.57 level of the downside resistance. Stay away from the trade entries for now.
Happy trading! (click on the chart to enlarge it)
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