In the last 2 months LTC created a descending triangle pattern. Its support was tested 3 times and now LTC is approaching the resistance line. If this is going to be broken, we could see a resumption of the uptrend with the price pointing to 440 USD.
BTC in the last month generated a pennat that was broken in a downtrend and now is generating an ABC Elliot wave. ETH is creating a similar chart pattern delayed of few weeks compared to that of BTC.
ETH broke a pennant in the last days, reaching the 50% retracement. Probably an ABC Elliot wave could be created, with ETH price rising to 870 USD and then dropping to 550.
In December 2017, Bitcoin started a correction pattern that brought its value from the top of 20’000 USD to the recent low of about 9’000 USD. The descending trend seems to be completed according to the Elliot waves theory, therefore the uptrend which started few days ago could significantly rise the value of BTC. From the 7th December 2017 up to now, a descending...
A brief investigation of the change rates between cryptocurrencies can easily show the potential earnings that can be achieved by applying a forex strategy.
The variation in the ETH/BTC change rate are significant and are caused by a phase shift in the patterns of BTC and ETH. Since the variation of ETH/BTC are strong, it might be a good strategy to switch...
Reddcoin is a cryptocurrency that I discovered recently. It has now a market cap a above 500 millions USD, but it had a peak of 800 millions USD. RDD price graph is right now ascending and channeled, with an expected rise to complete a Elliot impulse wave (as indicated also by the MACD graph).
RDD market cap can rise easily above 1 billion USD and might be,...
RDD today had a strong support on the value 0.017. A channel trend has been created and the third uptrend of the Elliot impulse wave could start in the coming days.
- Short term behaviour: slightly bearish
- Middle term behaviour: bullish
As for BTC, LTC seems to be in a pennant continuation pattern. Today the 230 USD support of the pennant has been successfully tested, meaning that we could see a new uptrend soon!
The continuation pattern is in agreement with the decreasing volumes.
cryptocoin4cast.com
Bitcoin had a steep rise that brought his value from about 2’000 USD at the beginning of August 2017 to almost 20’000 in December 2017. In few months the value has grown by 10 times! Soon after reaching the top, a sudden drop started. Despite of the alarmist prophecies, a bearish period is normal. In few days BTC dropped to 11’000, the precise middle point between...
