Bitcoin

(Bitstamp:BTCUSD 1h)

After the initial spike upwards, volume has dropped off significantly, suggesting the market isn't as interested in these levels. We can see some bearish divergence on the MACD, with a slight hint on the RSI which hasn't been confirmed yet. I suggested yesterday to be watching for drops to form an ascending wedge or channel, instead there was a brief consolidation zone above the $10154 support followed by a continued low volume rise. Due to this, its harder to define ascending support and resistance, instead its best to watch the static levels and the oscillators.

The resistance to watch comes at $10935, followed by the major historical level at $11160. We are very much in the territory for a double top from the $11800 resistance, so we should keep an eye out for sharp rejections of resistance levels as signs of weakness.

Ethereum

(Bitstamp:ETHBTC 1h)

As Ethereum retests support at 0.08145 we can see clear bullish divergence on both the MACD and RSI. While divergence isn't always an indicator of imminent reversal, it does show weakness to a trend. The current support level also coincidences nicely with the 61.8% support, which can add an extra psychological factor.

Currently there isn't enough structure to this drop to make a call for a position. I would wait for either another bounce from support or a formation of a descending wedge as a bullish confirmation. Or, if it breaks the 0.08145 support, a bounce from the 0.07800 support would also form a good double bottom.

Bitcoin Cash

(Poloniex:BCHBTC 2h)

Bitcoin Cash ended up following the bearish path and broke through the 0.1192 support. The last 2 legs of the drop have been -18% and -21% respectively, giving a rough target movement for this drop of -20%.

Personally, I am rather sceptical that it will reach this low. I still see a possibility that we form a "spring" rather than a continued drop. But, there is currently no analysis backing this, so we have to stick to what the market is telling us rather than what we want to believe. If we can see a sharp bounce, then we might well form a spring. But, until then or another bullish event, we have to follow the bearish outlook.

NEO

(Binance:NEOBTC 1h)

Unfortunately, I forgot to cover Neo yesterday, which happened to be the most activate day for it in weeks. We can see that it broke upwards from its ascending wedge in following with BTCUSD's break.

This came as a surprise, as volume remained low combined with the bearish continuation pattern. The spike saw a huge rise in volume on the first leg and high (although diminished) volume on the second too. We are currently forming strong bearish divergence on both the RSI and MACD along with the drop in volume on the second leg. This is looking like a fake-out rather than the start of a new trend. As such, I would recommend holding off to see if it will either break downwards or find a strong support level.

Litecoin

(Polonix:LTCBTC 1h)

With Bitcoin's continued rise came Litecoin's continued drop. Similarly to ETHBTC, we are moving to test support with some strong bullish divergence on the MACD. While the volume on the drop does remain fairly high, there are still signs of weakness. Hopefully we'll bounce off a support soon so we can look for buying opportunities once more.

Monero

(Poloniex:XMRBTC 1h)

Monero looks to have finally found some good support, sitting just above the 50% retracement. Volume and volatility still remain too high for my liking, so hopefully they'll drop off over the next few days.
I may stop analysing Monero as regularly if we can't make some level of a clean pattern. While I like it a lot as an investment based on its fundamentals, it has proven difficult to work with for technical analysis. Coins with too much chop can be hard to find patterns in, and therefore harder to trade.

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.