Technical analyst Mert Bozkurt evaluated the technical outlook in leading cryptocurrencies Bitcoin, Ethereum, Litecoin and XRP for Uzmancoin.
Bitcoin: BTC / USD
Our price movement in the Ascending Triangle formation in the high time frame on our chart is approaching the Apex level of the Triangle. Breakages from the Apex level occur with hard and bulky waxes, so be careful. It is useful to use it as a trend continuation pattern in triangle formations, but the discrepancy in our indicators is obvious. The retracement started after the Double Dip formation in the small time frame. With the 2618 strategy, we can see an upward trend with re-buying. If the triangle we follow in our 4-hour chart breaks down, the decreases may continue to the starting fractal region of the triangle.
Support levels: 11350 and 11200
Resistance levels: 11600 and 11900
Ethereum: ETH / USD
Our chart, which breaks the daily SUPPLY Zone and closes the hard candle on it, continues its movement in the Horizontal trend. In the short term, Double Bottom formation has started an uptrend with the break of the neckline and there may be pressure on the buy side with the retracement strategy 2618. In the medium and long term, our chart, which moves within the Rectangle, will continue to move in the direction of the break if there is a break and the candle closes outside the formation.
Support levels: 377 and 360
Resistance levels: 400 and 420
Litecoin: LTC / USD
In the medium and long term, after breaking the level respected by our price movement and closing the candle above it, it managed to stay above it by testing it 3 times. In the short term, the Rising Wedge formation took its target by testing this region again. There may be a downward break because the region has been tested a lot. Need to be careful. If our oblique support line is broken at H4, if the candle closes above it, it continues the uptrend in the medium term.
Support levels: 53 and 52
Resistance levels: 56 and 58
Ripple: XRP / USD
When we examine our medium-term chart, the price movement continues in the formation of the Descending Triangle formation. In the short term, the Rising Takoz is in formation. As the Rising Wedge formation is very close to the support zone of our Triangle formation, it can start an upward movement with support. If the chock breaks down with volume and the candle closes below it, a fall may occur up to the second support level I indicated by the arrow.
Support levels: 0.27400 and 0.26800
Resistance levels: 0.29000 and 0.30000