Bitcoin

(Bitstamp:BTCUSD 1h)

As I hoped for, Bitcoin made a bit of a pullback towards the 50% support, before bouncing back up above $9300. In its current state, this is a good confirmation of strong support near highs, giving a strong bullish signal.

However, there is the possibility of an ascending channel forming (pink channel on the chart), so watch out for a rejection of the ascending resistance as a confirmation. While this doesn't look particularly likely at the moment, its always best to keep a view on the possibilities.

Ethereum

(Bitstamp:ETHBTC 1h)

I've also been watching a loose ascending channel on ETHBTC, which is now showing signs of bearish divergence. A break downwards from this channel, to make a similar bounce from support as BTCUSD, would be ideal. A confirmation of lower support would give a strong bullish signal and allow us to take positions with a well defined risk level.

Until we get such a confirmation, I still recommend waiting from the sidelines, rather than building up new positions just yet.

Bitcoin Cash

(Poloniex:BCHBTC 1h)

Bitcoin Cash has been consolidating nicely since the 26th, with a good volume drop off for a consolidation zone. Finally, this provides a decent opportunity to build up a bullish position with minimal risk. The 0.1433 support would make a decent level to place stop losses. And, as always, make sure to size positions appropriately.

Your position sizing/ risk tolerance should be based on how much you'd be willing to lose, assuming that any position you take goes wrong. While I try to go for higher probability setups, its always best to prepare for the worst while hoping for the best.

Litecoin

(Poloniex:LTCBTC 2h)

Litecoin has been holding nearer to lows on decreasing volume, a rather bearish sign in the short term. As it stands, this could easily form a bearish consolidation zone, signalling a break to lower lows.

For the bulls, we're looking for is a strong bounce through the stack of resistance levels we're currently below and, preferably, a consolidation back above 0.01752 support/ resistance.

Monero

(Poloniex:XMRBTC 2h)

Similarly to LTCBTC, Monero has been pushing towards support without a good bounce so far. A break below 0.02730 leaves a lot of room for further drops, as there are historical few support levels. A climb back towards 0.03200 would be ideal for a bullish consolidation, but that prospect is looking ever unlikely.

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.