When your mom starts telling you the news she heard about “Bitcoin mooning” (her words), you know shit’s getting real. With rumors of institutional money poised to enter the market, and a general sense of FOMO, the BTC market is on an absolute tear right now. Our buy was triggered last week around the $6,400 mark. The double bottom pattern and break of the downward trend line was the indicator for us. We’re currently holding until a break of the current trend line.
Price broke, and has sustained over previous resistance of $8,000. We’d like to see that act as a solid support going forward. Volume at the moment does seem to be lightening up a bit, so keep an eye on that.
Levels of Support: $8,000, $6,633 with major support at $5,688
Levels of Resistance: $8,144, $9,200
As we mentioned in last week’s analysis, ETH was looking to break out of it’s bull triangle, which it did. We’ve mentioned before $312 was a crucial resistance price struggled with for quite a while, and will now act as strong support going forward. Buy signal was triggered on the break at around $320, and we’re currently holding as long as the uptrend continues.
Price currently looks to be breaking out of another small bull triangle to continue upwards. We like it! The slow uptrend is much more healthy than an explosion of momentum traders stepping in.
Levels of Support: $349, $333
Levels of Resistance: $365, $390
Litecoin is making some solid moves due to favorable news regarding the Atomic Swap btwn BTC and LTC. We’re finally getting some price action here, similar to ETH, with a slow and steady march upwards as buying pressure keeps the price going up. A buy for us was triggered on the news, and price is holding the trend line nicely.
At current, price is forming an ascending triangle, so we’ll be looking for continuation.
Levels of Support: $69.11, $63.85
Levels of Resistance: $72.52, $76
BCH made a monster move last week, and appears to be consolidating in the $1,000 region. Not bad considering it was in a downtrend for months, bottoming out at $300. We were watching the chart to see if price could break it’s new downtrend, but it was unable to break that trend/resistance. We’ve seen price channel for the last 5 days. At current, we’ll be watching for a break over $1,357 resistance on volume for a buy trigger.
Levels of Support: $1,176, $966
Levels of Resistance: $1,219, $1,354
After WEEKS of little to no movement, Ripple received very positive news and made a quick jump. However, we suspect there may be some bagholders, because price tumbled pretty quickly after. It found support at just about $.22 region, and has begun a slow climb since then.
Buy was triggered on the news, and we’ve been seeing some consistent buying pressure. We’ll be watching how price reacts to it’s next resistance level to see if momentum can continue. Currently price is respecting that upward trend line.
Levels of Support: $.218, $.206
Levels of Resistance: $.246, $.2601