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 in the triangle just below the previously broken downside resistance 315 level. A break below the triangle 280 level is required for the downside extension into the 220 level. A break above the 315 level will invalidate the downside.
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Bitcoin – the instrument is in the long-term wedge which is narrowing. Look for a possible reaction at the 8000Â level for another swing down in the range or the extension higher.
Litecoin – the instrument could test the downside support 80-85 zone before the downside extension. As long as the instrument is below the 100.70 level look for the downside extension.
Ripple – the instrument could be in the consolidation 0.35-0.40 zone before a downside continuation. Only a daily close above the 0.45 level would lead to an upside reversal and will invalidate the downside.
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 on this pullback.
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