I am not suggesting it will happen, but I am seeing some of the leading cryptos (Bitcoin, Litecoin, and Ethereum) poised to dump this weekend. In addition to all remaining in bearish chart patterns:
-Ethereum has fallen below .618 fib retracement and the $275-$280 support level.
-Bitcoin has dropped below it's longer term bullish channel yesterday evening
-Litecoin has dropped below it's 6 month bullish channel yesterday evening
They all seem to want to move down and touch our 200 MA. And while Ethereum and Bitcoin have some big supports to work through until they get there, Litecoin has easier work of it and very well could get there in the next days/weeks.
Whether they dump or not this weekend, I think the downward trend has definitely been validated on my charts and until we escape these bearish wedges/channels, I, for one, will not be looking to reposition just yet. Greater discounts are on their way!
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
