Daily Crypto Analysis - 27th Mar - Technical AnalysissteemCreated with Sketch.

Bitcoin

Bitstamp:BTCUSD 1h
(Bitstamp:BTCUSD 1h)

After briefly dipping below the 61.8% support with strong bullish divergence, Bitcoin is making a bit of a bounce. So far it hasn't reached very high compared to the previous little bounce, but I suspect we will move to retest the $8366 resistance at least.
On the higher time frames, this is likely to form a continuation pattern before making another leg down. If you're looking to short, I would recommend holding off until this has bounced higher and we have a confirmed bearish pattern, as this will give reduced risk and a better fill price.


Ethereum

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

After a pick up in bearish volume, ETHBTC has broken the 0.05930 support. There are still signs of bullish divergence and volume is still extremely low relative to the previous dip, however things aren't looking as bullish in the very short term. Once again, its best to wait for a confirmed support level/ reversal signal before taking on any positions


NEO

Binance:NEOBTC 4h
(Binance:NEOBTC 4h)

Neo broke down to retest the 78.6% support before bouncing, which appears to have formed a double bottom. The volume profile fits, with lower volume on the second test than the first. Now all we need is volume to pick up on the climb. I'm currently looking to buy into any new bull trend during its first decent consolidation zone, preferable above the 8826 support/ resistance level. Until then, I'm waiting on the sidelines to see how the market will play out.


Litecoin

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

After breaking yet lower, LTCBTC appears to have formed a double bottom after bullish divergence on the RSI, MACD and a significant drop on volume on each consecutive test lower.
If we can make a good bounce, here back above the 0.01808, then we'll be back to bullish. Traders with a higher risk tolerance may wish to build up longs here with a tight stop loss below the current bottom. However, more conservative traders can always wait for a consolidation after a bounce through resistance.


Monero

Poloniex:XMRBTC 4h
(Poloniex:XMRBTC 4h)

Monero briefly broke down from its bearish consolidation zone against yet more bullish divergence. Due to the relatively low volume over the last week or so and the double bullish divergence, there is a strong chance that this is a "spring" and we'll climb higher again. I would recommend holding off here, as a drift lower is possible. If we can break resistance and form a bullish consolidation we can start building up positions. Until then, the risk/reward isn't worth it.


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.

Coin Marketplace

STEEM 0.17
TRX 0.13
JST 0.028
BTC 59928.39
ETH 2649.32
USDT 1.00
SBD 2.42