Back again with another market analysis. This time we are focused on cryptocurrencies and with all the news around Craig Wright plus BCH SV I wanted to assure people that all the other coins are Technically fine.
Let’s get to it
BTC – While we are still in this strong uptrend, I thought it would be good to have a look at the alpha dog which is Bitcoin. With the price seeing no signs of dropping below $5000 this could be potentially an excellent time to buy under there $5100. The 2 Week VWAP (Pink Line) has extended above the 1 months VWAP showing strong signs that we should see another break out soon. This is positive as we will not see a drop below $4500 at any point soon. I can only warn you that price could drop below $5100 and if you have not bought any Bitcoin then place some orders below $5100. Once the price breaks $5400, BTC will be trading sideways between $5600 & $5800.
LTC – At the moment Litecoin is my favourite go-to cryptocurrency. If you are looking to buy LTC in the short term then you will be happy to find that prices are still very close to the 2-week VWAP, and Monthly VWAP. $80 for LTC seem to be the perfect price, and if you can grab some LTC between $80 to $73, then you will be in for a great ride on this uptrend. LTC still need to break through $100 mark which is going to be tough. When this does happen, LTC will be looking to stay active around $103-$110. My advice is to buy while we are still on the VWAP and hold tight for another rocket boost to the sky.
“Patience is the key to any market” – Nathaniel.
Next update will be in the coming week – Thank you for your love and support.
Nathaniel – “THe BiPolar TraDer”
Little Big Movement