Cryptocurrencies trading overview – Ethereum, Bitcoin, Litecoin, Ripple, EOS
Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument is breaking below a strong long-term downside resistance 400-410 zone and is reaching now 310 level of the Fibonacci extension. Beak below this level will lead to a downside extension into the 150-200 level.
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Bitcoin – the instrument is testing the descending channel breakout 5900-6000 zone. Break below the 5900 would open a downside extension into the 4000-4500 zone. Invalidation of this downside extension only in the case of a daily close above the 8850 level.
Litecoin – the instrument is breaking below the 68.94 level and is extending downside into the 40 level. Look for the short trades with the stop loss above the 69 level.
Ripple – the instrument is breaking below the 0.45 level with confirmation. Extended downside is calling for a 0.10-0.15 zone test. The downside support now is 0.35 level.
EOS – the instrument is breaking below the 5.000 level. This break would lead to a 3.100 level test. Look for the short trade entries with the stop loss above the 5.000 level.
Happy trading! (click on the chart to enlarge it)
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