Bitcoin

(Bitstamp:BTCUSD 1h)

Bitcoin decided to spike down sharply just as I was writing this article. The volume on the candle so far is extremely strong, suggesting panic to the market. We'll have to keep an eye on the $9023 support to see whether we break lower in the next few hours.

Past $9023, the next major supports come at $8854 and $8780. Although, if we make a bounce above $9023 instead, we could still end up forming a large ascending wedge.

Ethereum

(Bittrex:ETHBTC 1h)

ETHBTC is still holding its little consolidation zone nicely, which turns out to be the 50% and 23.6% retracements of the run from 0.07360. At this point, the bullish argument is looking pretty strong. However, I'd recommend building up any position closer to the support of the zone to reduce risk.

Bitcoin Cash

(Bittrex:BCCBTC 1h)

The volume never picked up after Bitcoin Cash's break upwards yesterday, so we just held around 0.1760. We now appear to be making a retest of the upper support/ resistance of the channel. If we can bounce, it'll be a strong confirmation of a new bullish leg. However, I would recommend waiting for that to be confirmed before taking on too much risk, as a break below would likely signal a retest to 0.1644 and below.

Litecoin

(Bittrex:LTCBTC 1h)

Breaking yet more supports, Litecoin is continuing its descent. While there are signs of possible bullish divergence, they are yet to be confirmed with a bounce. We're already in a slightly precarious position but, if we continue to drop, a break below the 0.01636 support would signal a wider rejection of the bullish movement and a retest towards 0.01590.

Disclaimer

I will do my best to give unbiased, objective analysis, but I can make no promises about my accuracy.
All posts are based on my personal opinions and ideas and do not constitute professional financial investment advice.