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Time to Sell Ripple? Analysis: Litecoin, Stellar Lumens, Bitcoin, Ethereum, Dash & Zcash

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Time to Sell Ripple? Analysis: Litecoin, Stellar Lumens, Bitcoin, Ethereum, Dash & Zcash

Introduction

Litecoin

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I will go out on a limb here and say it’s time to buy ltc. There is a little bit of room to the Fibonacci vortex support, but not much.  Firm support ~ $23.  Lets look at the Gann setup:

Here the picture is the same.  There was a spike low exactly at the end of the square, but recovered quickly to above the 5th square.  I believe the low is in.  We will see.

Ethereum

Ethereum is sitting on long-tern 2×1 support and is exactly 90 degrees (dotted vertical line) after the beginning of this setup. It’s an energy time, so my guess is a rally will begin shortly. We will see…

DASH

DASH has just about gotten through 3rd arc resistance. I would wait for confirmation before buying, but this may be getting ready to do something also.

Bitcoin

This 12 hour chart suggests another 3-4 days of rallying to ~ $2100.  When it gets there it will be a good idea to take some profits, IMHO.

Stellar Lumens

XLM has closed above the 5th arc.  The top of the 5th square is tough resistance.  If it gets past there I will need to re-size my setup.  Let’s see what happens…

Ripple

Ripple is at 5th square resistance.  This is pivotal.  If it goes higher I will need to re-size my setup.  But it’s a good place to take some profits, IMHO.

Zcash

ZECUSD looks weak, but it should be watched because it is almost at the end of the setup.  Reversals/accelerations often happen here.  Also, note that the 2×1 has provided excellent support for a very long time, and it is not far away.

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.

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Jim Fredrickson

Jim Fredrickson

Jim has an MBA from the University of Southern California. He has had a long career in both Corporate Finance and IT. Along the way he discovered that trading was a vehicle with great promise, but struggled for a long time without a mentor. After having been knocked down many times and having struggled to get back up, he had an epiphany and realized that geometry was a solution. He shares his experience here. If you do well as a result of suggestions made here, feel free to say thank you :) BTC: 1FUq3GB1Q8zz2JpuBr7YHzVBKnaWoxgmya Follow him on Twitter (@jimfred1276) or email him at jimfred1276 at gmail.

Comments
  • user

    AUTHOR Ershad

    Posted on 9:52 am May 17, 2017.

    Hi Jim,

    Thanks for your article I already bought some LTC last night for around $19, I wanted to ask what’s the target for LTC? As always thanks for your analysis.

    Kind regards
    Ershad

  • user

    AUTHOR rdcglobal

    Posted on 10:17 am May 17, 2017.

    Really like your analysis, made 100% on XRP .20 to .41… i sold half my XRP position rolled over the proceeds into LTC. Looking forward to your next Article.

  • user

    AUTHOR amirheavy666

    Posted on 2:24 pm May 17, 2017.

    ripple stand in 0.34 u think ?sell it now? ??? no go back 0.4?

  • user

    AUTHOR amirheavy666

    Posted on 2:25 pm May 17, 2017.

    Hi jim
    thanks for your support
    ripple stand in 0.34 u think ?sell it now? ??? no go back 0.4?

  • user

    AUTHOR xrolo24x

    Posted on 7:09 pm May 17, 2017.

    Always look forward to these articles. Fantastic, thank you!

  • user

    AUTHOR Lukem

    Posted on 11:07 pm May 17, 2017.

    Could you explain how to read these graphs please and also what are you suppose to get from them? Thank you

  • View Comments (6) ...
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