Crypto Currencies Technical Outlook (15.12.2017)
Hi Crypto Lovers
So let's start with technical outlook of some of cryptocurrecies
Bitcoin
After a consolidation period of some days bitcoin is ready for another led up. On this 4HR chart, a beautiful flag has formed. A good bullish candle has formed now. So I am expecting it to break ATH and reach close to 20,000 mark.
Ethereum
So bitcoin has made an impulsive move and obviuosly ethereum has to come down. Now if you look at this 30min chart then a sharkfin has formed and it can be bought for short term and look to sell around 700 mark. Put your stop loss just below this last swing low.
Dash
Dash is looking good to break the 1000 barrier but bitcoin impulsive move has made him dip a bit but on 30 minutes charts, a beutiful sharkfin has formed at support area and I am buying this dip for short term. Place profit targets at 925 and stop loss around 830 mark (I personally dont use stop loss because I like to average my positions by adding 1 more buy at 825 mark)
If you like my analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis
Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. This Trade view is not a guarantee and only my personal speculation. Trade at your own risk with that money only you can afford. Bitcoin unexpected pump or dump will make this analysis void.
Where did you learn chart reading? It seems to be the backbone of most trading analysis. What about development news? Corporate/Industry adoption of various cryptos? I'd love to see more of this kind of news.
For news and development you have to follow the official website or twitter account of a coin. No rocket science there
About chart reading and analysis , I am using my forex experience and it seem to work in crypto as well most of the time.
Watch out my forex profits updates as well. Been in forex from 7 year
Good
Great work!!
Will love to see Ripple & Litecoin analysis,
Ripple is overbought so I am not looking to buy.
Litecoin
If you see litecoin chart on 4HR, we have beautiful pullback flag formed and it can go for another led up to reach its ATH. So it can be bought now with stop loss below the last flag's low point.
So what do you think about this Ripple analysis? https://steemit.com/bitcoin/@haejin/ripple-xrp-analysis-what-s-next-here-are-my-thoughts
That is good but you dont want to get in and see a correction, this train has left. You can risk to jump in now. The analysis is very good and ripple will hit $1 eventually
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