This is NOT the time to be short cryptos

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.

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