Daily Crypto Analysis - 26th Mar - Technical AnalysissteemCreated with Sketch.

Bitcoin

Bitstamp:BTCUSD 2h
(Bitstamp:BTCUSD 2h)

After flirting with the $8366 support, Bitcoin has broken down and is making its way back towards the $7888 and $7682 supports. The break came on decent volume compared to the last few days, but still a tad low compared to other moves recently.
If you wish to short this, I'd recommend waiting to build up positions on the next decent bounce. Which, based on the decline on volume on the previous few bars, could be pretty soon.


Ethereum

Bitstamp:ETHBTC 4h
(Bitstamp:ETHBTC 4h)

As suspected, ETHBTC is pushing down to make a test of the 0.05930 support. Volume still remains extremely low, along with the bullish divergence on the RSI and MACD, so a break down seems unlikely. However, I would wait for a decent bounce and confirmed support before starting to build up any positions here, as we may drift lower still.


NEO

Binance:NEOBTC 2h
(Binance:NEOBTC 2h)

After making a small bounce due to the bullish divergence, Neo saw a sharp rejection from the 7856 resistance and instead dipped to test the 61.8% support. A retest towards the 6100 support is still a possibility, so I'm planning to hold off on this until it has formed a strong bounce and found a higher support level for a consolidation.


Litecoin

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

Volume never came for Litecoin's climb, instead it formed a small double top before dropping straight through support and even breaking 0.01808 on extremely high volume. This is a very weak sign for Litecoin and we will likely see further lows after a small pullback. If, by some chance, we can form a strong double bottom then I may consider a long position. However, the short term is not looking bright.


Monero

Poloniex:XMRBTC 2h
(Poloniex:XMRBTC 2h)

Monero's volume has been tailing off over the last few days and we appear to be settling into a bearish consolidation zone below the 0.02493 resistance. This suggests that we will see new lows in the near future, likely on the back of a BTCUSD dip.


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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