Market Review. Results of the Day. Growth of Uncertainty. 02/19/2018

February 19, 2018


Changes (over the weekend):

BTC $11,043.16

ETH $943.24

XRP $1.11031

BCH $1,511.50



Technical analysis.

Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) have formed expanding patterns over the weekend. It tells only one thing: volatility and uncertainty are growing.

On Ripple chart a pattern called rising wedge has formed, and XRP broke it down with confidence.

It is safe to say that the correction after the January fall has completed. Further movement in any direction can be considered an independent movement.

In case of bitcoin's growth above the resistance level of $11,200 the target is $12,000. In case of a fall to the level of $9,500-10,000, one can start searching for entry points for buying, counting on the expanding of the volatility and on the reversal of the price after the break of the local minimum (an expanding pattern will continue to grow).



Act by analogy with BCH and ETH.

Ripple (XRP) support level is $1.05, resistance level is $1.15. This is the most suitable candidate for the Big Short if the market will continue to fall. Although, it's chart looks better that ETH's and BTC's from the technical point of view. In case of breaking down the level of $1.08 targets are $1.05, $1, $0.9 and $0.6.

Scenario is cancelled if the price goes above $1.15.



Ethereum Classic (ETC) has almost completely recovered after the fall in January, reaching $38.20 today. It's all-time high is 43.83 $.

 

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