Cryptocurrencies updated technical and wave analysis

ALPHA BANK
January 22, 2018
Με τα φρένα σπασμένα…..
January 23, 2018

Bitcoin

BTC/USD

Remains in a bearish trend as long as price is below 13k. Target remains at 8500$ which we nearly nailed last time prices fell sharply….since then prices bounced but are turning back down again. Downward correction is not over….bears are in control of the trend. Bulls will need to break first the red and then the green downward sloping trend lines.

 

Ripple

XRP/USD

Trend remains bearish. Price is trapped inside and expanding triangle with a negative slope. We are in a correction phase of the entire rise in Ripple. We could even see price reach the blue rectangle as long as we trade below 1.90$.

Litecoin

LTC/USD

Still in bearish trend. Vulnerable for a move lower towards 130$. A break above 240-210$ (black downward sloping trend line resistance) will be a bullish sign. This could signal the end of the downward move. The Head and shoulder target is achieved, and that is why price bounce off 134$…is this THE low?

Etherium

ETH/USD

I expect one more leg down towards 520$ in ETH/USD. I believe the correction is not over.

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.