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Investment Recommendations April 7th

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Investment Recommendations April 7th

Introduction

This article was posted on Friday, 17:18, UTC.

Litecoin: Short-Term Buy

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Litecoin, 1-Hour Chart Analysis

Another push to new highs is expected in Litecoin as the cryptocurrecncy seem to have found support near the $9.50-$9.75 zone. The $12.50 level remains in focus as LTC already doubled in April. If the current breakout continues, even the $20 level might be in play, with no major resistance level ahead above $12.50.

Below $9.50 the 8.30 or the $7.75 level could serve as a broader stop-loss level for longer-term traders. Another strong support level is found near $6, while the original breakout level of $4.35 is the last resort support for the current move.

Bitcoin: Long-Term Buy (Update)

 

Bitcoin, 4-Hour Chart Analysis

Bitcoin reached the confluence of the declining trend-line and the $1200-$1215 resistance zone last night, as we expected. Short-term traders might monitor the rising short-term trend-line that is currently found at $1175 on the 4-hour chart for a tight stop-loss level.

The $1215 level remains the next crucial hurdle for the cryptocurrency, although another corrective phase is possible if the price stays below the declining long-term trend-line. The prior resistance at $1150 and the strong support zone between $1100 and $1115 might be the target of the possible correction.

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR jacobss

    Posted on 8:39 pm April 8, 2017.

    Can you advice on RippleXRP and ETH

  • View Comments (2) ...
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