Cryptocurrencies

Bitcoin, EOS, BNB, BAT, ETH, LTC and XRP Analysis: Preparing to Move?

Bitcoin has held above $7,500 for 3 days now. We’re starting to see price get squeezed with lower highs and higher lows. It looks like we may see a larger move in the next 3-6 days. The weekly chart looks extremely extended. A decisive break below $7,500, could usher in a the larger correction many are waiting for.

Screen Shot 2019-05-21 at 11.17.20 AM.png

Zooming in on the 4 hour chart, things are a little less clear. I can certainly make an argument for a short term break above the prior swing high. In addition to a tightening range (which could break either way), we’re starting to see a possible inverse head and shoulders pop up on the smaller time frames. This has not been validated yet. If it is validated, price would have a target of approximately $9,600.

Screen Shot 2019-05-21 at 11.23.26 AM.png

A decisive break below $7,500, could usher in a drop to at least $6,500. I wouldn’t expect a free fall, but rather a more structured correction that looks something like the following.

Screen Shot 2019-05-21 at 11.25.25 AM.png

In today’s video I analyze Bitcoin, EOS, LTC, ETH, BNB, BAT and XRP. I’ll discuss the bullish and bearish case for each, price targets, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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