Analysis: Bitcoin Energy Point is Today (+ Litecoin, Ethereum, Augur, Monero, Zcash & Ripple)
Bitcoin has been rallying for what seems like forever, but there is a fairly significant set of resistances in the chart that will likely be reached today or tomorrow. A long-term 5th arc (black) and shorter-term arcs (the green 2nd arc will likely yield, but the next two will likely have a lot of stopping power, especially the last one. The 3rd arc and 5th arcs intersect exactly at energy point. Energy point is TODAY. Likely not a coincidence.
Ethereum Classic has had a decent rally, we now have a target of ~ $8.5
Last time we took a close look at ETH it was bouncing off support at 90. Wow – what a difference a day makes. Traders should take some profits soon. IMHO this vertical rally will not last much longer.
This coin has been a bit of a disappointment. It rallied where expected, but the rally has so far been very weak. Support is likely to be found at the 1×1 angle (highlighted).
REP has been moving sideways a long time, but it is reaching both the end of the setup and an energy point. Watch it carefully…
XMR has rallied back to its high of several weeks ago. If it can close above the arc, the 3rd arc will be the next target at ~$34.
Ripple fell to the top of square, indicated by the arrow, exactly on the end of the square. That was likely a good buying opportunity, as I tweeted at the time.
ZEC is currently trading within a 2nd arc pair. If/when it can close above the arc, a next target will be ~ $115.
Remember: The author is a trader who is subject to all manner of error in judgment. Do your own research, and be prepared to take full responsibility for your own trades.