Price Analysis of Bitcoin, Litecoin, Ethereum, Monero and Dash
Notwithstanding that brief drop last night on kraken (What the hell was that? Did someone fat-finger an order????) it seems that the 4 hour chart is going to close above the 1st arc. If so, this will be both a buy signal on the the Gann chart, and also give us another “higher high”, suggesting that the trend has turned up.
Ethereum is challenging a medium-term fib spiral for the 2nd time in the past day. While we have not yet been given a buy signal from this tool (as this is being typed), it would seem that one may be forthcoming soon. Stay sharp.
As indicated in the weekend update, litecoin is approaching a likely turning point in the next week or so. This is shown above in the Gann chart, which also indicates the challenge of the long-term resisting trend line (pink). Watch for a possible breakout soon.
As indicated in the weekend update, Dash ran into serious resistance. In the weekend update I suggested closing longs, if not going short. Well, the tide has definitely turned since then. When/if we see a close below the 1st arc (highly likely) we will likely see a fall to perhaps the 3rd arc shown below. Wait for the close below the 1st arc before shorting though (imho).
With the exception of a brief penetration that failed, Monero has not been able to conquer a medium-term fib spiral. It is not clear whether or not (the short-term) trend is higher or lower from here. My play would be to take profits and wait to see a trend develop before opening another position. Your mileage may vary.
Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.