Daily Technical Analysis | Bitcoin | Ether | Ripple 2/15/2018

Our preference: The bias is to the upside as prices held support as momentum turns positive

Alternative scenario: look to reverse on a close below support levels near an upward sloping trend line

Support

Short-term 10-day moving average near 819.51.

Medium Term, upward sloping trend line at 592.

Resistance

Downward sloping trend line at 1,000

Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line. The RSI (relative strength index) broke out above trend line resistance reflecting accelerating positive momentum.

btc

Our preference: The bias is to the upside as prices break short term resistance on positive momentum

Alternative scenario: prices are overbought, look to reverse on a close below short-term support

Support

Short-term 10-day moving average near 8,238.

Medium Term, support – upward sloping trend line at 6,000.

Resistance

Short-term resistance – downward sloping trend line at 9,300.

Medium-term resistance 11,628

Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line. The short-term stochastic surged higher reflecting accelerating positive momentum, although the current reading is overbought above the 80-overbought trigger level which could foreshadow a correction.

xrp

Our preference: The bias is to the upside on a break of short-term resistance as momentum turned positive.

Alternative scenario: prices are approaching overbought levels, look to reverse on a close below short-term support.

Support

Short-term 10-day moving average near 0.897.

Medium Term, support – February lows at 0.602

Resistance

Short-term resistance – 23.6% Fibonacci retracement at 1.24

Medium-term resistance 38.2% Fibonacci retracement at 1.64

Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line.

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