Cryptocurrencies bulls still not out of danger despite the bounce

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February 9, 2018
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February 12, 2018

BTC/USD Bitcoin

The bounce came right on time around the 61.8% Fibonacci retracement. However price remains below the first important red trend line resistance. Bulls need to convincingly break above 9k and stay above it.  Next very important resistance is at  11k.

XRP/USD Ripple

Price action here is bullish as price has broken above the wedge pattern and is making higher highs. The February low is the most important support level for bulls. As long as price is above it, bulls will be in control and a new up trend might be starting. Break below it and bulls are doomed.

ETH/USD Etherium

Price has bounced convincingly from my target area of 627$, however the form of the rise does not look impulsive to me so far. The 566$ is the most important level for bulls. They do not want to see this broken. As long as price holds above it, bulls could see prices move higher.

LTC/USD Litecoin

Price remains inside the long-term downward sloping channel. Bulls need a break above 180-185$. As long as price is inside the channel there will still be danger for a move back to 100$ or lower.


Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.