Analysis: Bitcoin Energy Point is Today (+ Litecoin, Ethereum, Augur, Monero, Zcash & Ripple) | Hacked: Hacking Finance

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Bitcoin

Bitcoin has been rallying for what seems like forever, but there is a fairly significant set of resistances in the chart that will likely be reached today or tomorrow.  A long-term 5th arc (black) and shorter-term arcs (the green 2nd arc will likely yield, but the next two will likely have a lot of stopping power, especially the last one.  The 3rd arc and 5th arcs intersect exactly at energy point.  Energy point is TODAY.  Likely not a coincidence.

Ethereum Classic

Ethereum Classic has had a decent rally, we now have a target of  ~ $8.5

Ethereum

Last time we took a close look at ETH it was bouncing off support at 90.  Wow – what a difference a day makes.  Traders should take some profits soon.  IMHO this vertical rally will not last much longer.

Litecoin

This coin has been a bit of a disappointment. It rallied where expected, but the rally has so far been very weak.  Support is likely to be found at the 1×1 angle (highlighted).

Augur

REP has been moving sideways a long time, but it is reaching both the end of the setup and an energy point.  Watch it carefully…

Monero

XMR has rallied back to its high of several weeks ago. If it can close above the arc, the 3rd arc will be the next target at ~$34.

Ripple

Ripple fell to the top of square, indicated by the arrow, exactly on the end of the square.  That was likely a good buying opportunity, as I tweeted at the time.

Zcash

ZEC is currently trading within a 2nd arc pair.  If/when it can close above the arc, a next target will be ~ $115.

Remember:  The author is a trader who is subject to all manner of error in judgment.  Do your own research, and be prepared to take full responsibility for your own trades.

Jim Fredrickson

Jim Fredrickson

Jim has an MBA from the University of Southern California. He has had a long career in both Corporate Finance and IT. Along the way he discovered that trading was a vehicle with great promise, but struggled for a long time without a mentor. After having been knocked down many times and having struggled to get back up, he had an epiphany and realized that geometry was a solution. He shares his experience here. If you do well as a result of suggestions made here, feel free to say thank you 🙂 BTC: 1FUq3GB1Q8zz2JpuBr7YHzVBKnaWoxgmya Follow him on Twitter (@jimfred1276) or email him at jimfred1276 at gmail.