Crypto Maket Update - 4 April 2018
Hi guys!
Here are the summary of todays’ market update.
I picked 3 coins from the top 10 on coinmarketcap plus Steem:
- BTC
- ETH
- LTC
- Steem
BTC - Daily Chart
Tools used: Fib Retracement and Trendlines
I’ve provided 2 possible scenarios for this possible bounce vs. double bottom completion. If double bottom plays out in the end I will definitely update the price target but for now.
For now those are my 2 probable price target.
ETH - Daily Chart
Tools used: Fib Retracement
As for ETH I think accumulation play is better than trying to trade this bounce. From fib retracement you can see there ETH is almost have a 78% pullback.
What I would do in this kind of situation is open a small position first around this key level support (so far). And if ETH have another pullback just average cost down from here.
LTC - Daily Chart
Tools used: Fib Retracement and Trendlines
LTC is somewhat similar to BTC, currently inside a massive bull flag then double bottom on key level support. Also have possible 2 scenarios, either double bottom play out (meaning LTC will rally to the upside) or fails breaking resistance on the bull flag.
Depending on how these 2 scenarios go I will surely give an update.
Steem - Daily Chart
Tools used: Stoch RSI
For Steem, we need to see if this new found support holds. And I think it’s highly likely that Steem will retest this prior resistance from yesterdays’ breakout of the major resistance.
Disclaimer
You know the drill guys. This is just opinion and not a financial advice. Do your own research and decide your own trades. Cheers!
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