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Bitcoin, Ethereum, Litecoin - Charts and Prices | Webinar

Bitcoin, Ethereum, Litecoin - Charts and Prices | Webinar

2018-02-21 13:05:00
Nick Cawley, Analyst
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Bitcoin News and Talking Points

- The cryptocurrency market continues to steadily re-coup recent losses but price action is slowing.

- Bitcoin’s price chart still looks positive but needs to take stock ahead of any further move higher.

Bitcoin (BTC) Latest Price Chart Examined

After a positive week for a range of cryptocurrencies, chart patterns are pointing to a period of consolidation as traders look to the next move. Market heavyweight Bitcoin’s chart is the most positive with a series of higher lows only just broken in the last 24-hours. With a cluster of technical support levels near, any downside in BTC is expected to be limited before the strong uptrend – from the February 2 low – continues but at a slower pace.

Bitcoin (BTC) Price Chart Showing Higher Lows and Support (September 2017 – February 21, 2018)

Bitcoin, Ethereum, Litecoin - Charts and Prices | Webinar

Ethereum (ETH), Litecoin (LTC) and Ripple (XRP) Consolidating

The next three digital market heavyweights are also showing signs of exhaustion and need to close above the support levels we highlighted in today’s webinar (attached). Again a lack of negative news should limit any downside but traders should not expect to see any explosive rallies in the near-term as the market tries to find an equilibrium.

Litecoin (LTC) has drifted lower after the recent Litecoin Cash (LCC) hard-fork and we discussed how holders of LTC should claim their new windfall and the problems they may face. The new LCC currently changes hands at $7.50 although only a couple of exchanges currently support the token.

Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Bitcoin Cash or Ethereum we can offer you a wide range of free resources to help you. We have an Introduction to Bitcoin Trading Guide along with a Free Practice Account. In addition we run a Weekly Bitcoin Webinar and have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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