Strong Pressure From Buyers Says This Week’s Crypto TA

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Summary

However, here also exists a risk of forming of a reversal pattern and beginning of a decline aiming at $225. Litecoin and Bitcoin Cash are forming a reversal pattern, and in case these patterns are confirmed, a decline is to be expected. H4 also shows a reversal pattern forming. The volatility is declining; however, a strong movement towards a breakthrough of the pattern is to be expected soon. This will signify further decline to $95 and down according to the reversal pattern.

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Bitcoin shows steady growth as the cryptocurrency has succeeded in forming a reversal Head and Shoulders pattern.

It implies strong pressure from buyers. What is more, formation of the model in the direction of the current ascending trend may provoke robust growth.

However, this idea will prove true if the quotations exit the long-term descending trend and secure above $14,050.

Ethereum is also aiming at further growth, while other currencies do not promise anything interesting form the point of technical analysis.

Litecoin and Bitcoin Cash are forming a reversal pattern, and in case these patterns are confirmed, a decline is to be expected. EOS is also aiming down but not that seriously.

Bitcoin

The cryptocurrency has managed to bounce off the support line and is getting ready to test the upper border of the descending channel.

Such a breakthrough will signal exit from a long period of correction and, all in all, further growth...

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