This is NOT the time to be short cryptos

Bullish pattern in spx can target 2760 if triggered
April 10, 2018
Η μεσοπρόθεσμη εικόνα έξι μετοχών.
April 10, 2018

Back in December and January we have been bearish cryptocurrencies and all of our targets have been achieved. I believe that a bullish wave as a very strong bounce will soon come for the cryptocurrencies we monitor. Below I point out the price levels that need to be broken for this positive scenario to come true.

BTC/USD Bitcoin

Bulls must break above the green downward sloping trend line resistance. Break it and we can see BTCUSD back near 12k.

ETH/USD Etherium

First important resistance that bulls must break is at 431$…but the most important one is at 474$ where we find the downward sloping trend line resistance. Break it and we can bounce towards 800$

XRP/USD Ripple

Bulls must break above 0.55-0.57$ for a possible bounce towards 1-1.20$…key support is at 0.45$.

LTC/USD Litecoin

If trend changes in cryptoland and LTC/USD breaks above the downward sloping black trend line resistance (172$) we could even see new all time highs in Litecoin.

 

Thank you for taking the time to catch up on my thinking.

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.