Charting the top 20 – October 27, 2017
Charting the top 20 looks at a handful of the top 20 cryptocurrencies (by market share) and analyzes their chart for potential opportunities. Updates will come out every Monday-Wednesday-Friday. We’ll be using some stock chart analysis to find support and resistance levels to hypothesize when to make a move. This method should encourage patience and should discourage FOMO (Fear of missing out). The analysis is nothing more than observation and you must do you own due diligence before making any purchases or trades.
|Name (Symbol)||Chart Analysis|
|Bitcoin (BTC)||The Amazon news was a case of buy the rumor sell the news. Looking at a 5730 support to buy some. But lower is always better.
|Ethereum (ETH)||On the ETH/USD chart we are in a symetrical wedge. Looking for a 275-280 entry.
|Litecoin (LTC)||Support in the $50-$54 range (54 on a trend line). If this breaks look for a $50 opportunity.
|NEM (XEM)||This is in a bullish triangle with support around $0.18. Any drop could be an opportunity.
|Ripple (XRP)||Hasn’t really changed. Between $0.18 and $0.20 is a good support area.
Keep an eye on all the top 20. Their prices are all fairly low in their relatively short history. Look for support and resistence and educate yourself before making any moves.
Great charts provided by TradingView.