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

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

By Workin | Technical Analysis | 21 May 2019


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.

190903265-fef4f43d31375dc3b9d093da7bd2feafc4cf74e20f1a9f589321867cf23f1bb2.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.

190903265-29dcd3971c4326200caa66ec94987096bf8a6eade6ee0f02cc47e24457541ac3.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.

190903265-e66037f1b8ac46e21a6227a47a9b1d1c970ed4a7d26a317b02f303ab7b010001.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:

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

Disclaimer: This is NOT financial advice. 

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Workin
Workin

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom


Technical Analysis
Technical Analysis

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom

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