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Litecoin (LTC) Aims For Trend Reversal As Price Prepares To Escape Falling Wedge

Litecoin (LTC) is trading in a falling wedge with the possibility of a breakout in the weeks ahead. The above daily chart for LTC/USD shows that Litecoin (LTC) has almost reached the extent of its movement within the falling wedge against the US Dollar (USD) and is now likely to test the downtrend resistance. However, before testing the downtrend resistance, it will have to break past the 21 EMA which has served as a support turned resistance since the beginning of the correction. MACD profile for the above chart confirms a bullish outlook and the price looks all set to...

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Bitcoin (BTC): An Interest Rate Hike In September Might Delay A Trend Reversal

Bitcoin (BTC) is about to complete a 69.81% correction just as it did back in October 2014. What remains to be seen now is whether Bitcoin (BTC) will follow the exact same pattern as in 2014 or trade differently. The above monthly chart for BTC/USD shows that even the EMA alignment in both cases is the same. The lower half of the above chart shows a chart for EUR/USD which demonstrates the striking similarities between strength of the EUR/USD pair and Bitcoin (BTC). The price of Bitcoin (BTC) benefited from a weak dollar and dovish FED policies in the beginning,...

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Ripple (XRP) Bull Flag Signals Breakout To $0.44 Level

Ripple (XRP) has just formed a big bull flag on the 4H chart for XRP/USD. The price has found immediate resistance at the 50 EMA but a breakout is expected in the days ahead. The EMA alignment on the 4H timeframe continues to remain bearish. However, Elliot Wave Oscillator on the same timeframe signals a reversal in the days ahead. The bearish momentum that was on a rise since August 6 now appears to be lost completely. MACD analysis for the above chart also shows that the price is at the point of a short term trend reversal and is...

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Ethereum Classic (ETC): The Diamond You Didn’t Know Existed

Ethereum Classic (ETC) has long been hailed as a hidden diamond in some crypto circles. This time, the whole crypto community can literally see what it really meant. It is true that Ethereum Classic (ETC) is a rare diamond of a blockchain project, but that is not what we are talking about. The weekly chart above for ETC/USD shows exactly what we are talking about. This is called the bullish diamond formation which is a continuation pattern in technical analysis. It means that if the price was falling before it entered the diamond formation; it will continue to fall more...

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Bitcoin Shorts Reach All Time High, A Big Short Squeeze Might Be Around The Corner

Bitcoin (BTC) is now at a critical point as Bitcoin Shorts reach all time high as can be seen on the daily chart above for BTCUSDShorts. The last time the number of shorts for Bitcoin (BTC) was this high, we witnessed a massive short squeeze which liquidated a large number of short positions and hurt the bears badly. Before the massive short squeeze there was a 50.79% rally after a red candle in April 2017 for Bitcoin Shorts as can be seen on the chart above. Interestingly enough, we have had a similar rally of an exact 50.79% after a...

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