Daily Crypto Analysis - 15th Mar - Technical AnalysissteemCreated with Sketch.

Bitcoin

Bitstamp:BTCUSD 30m
(Bitstamp:BTCUSD 30m)

After seeing some bullish divergence on both the RSI and MACD, Bitcoin made a bounce around $7700. We now appear to be forming an ascending wedge, which is a bearish continuation pattern if volume drops off sufficiently. So far, volume remains fairly high, although a bit lower than the initial leg down. There is still a way to go to form a bearish consolidation here.
The $8366 and $8450 resistance levels are the first to watch, but I suspect we'll made a retest of the 38.2% extension.


Ethereum

Bitstamp:ETHBTC 2h
(Bitstamp:ETHBTC 2h)

ETHBTC made a retest of the 0.073170 support earlier, before making a weak bounce. Volume remains high and there are no particular signs of bullish divergence on the RSI, and only a hint on the MACD. If we can't make a strong bounce off this support, we're in for a longer term bear market.


Bitcoin Cash

Poloniex:BCHBTC 2h
(Poloniex:BCHBTC 2h)

Bitcoin Cash is continuing its high volatility chop, with another day without much structure. Volume has pulled back somewhat, but still remains too high to form any meaningful consolidation. I suspect that we will make a retest of the 0.1097 support in the next day or two. We'll have to wait and see whether we break the support or if it can hold.


Litecoin

Poloniex:LTCBTC 1h
(Poloniex:LTCBTC 1h)

Litecoin's breakout made a decent move, breaking several resistance levels, but it appears to be running out of steam. It saw bearish divergence on both the RSI and MACD and a serious decline in volume on the second leg up. Further pullbacks from 0.203 are expected, which should give good buying opportunities once it has found support.


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.

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