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Bitcoin, Ethereum & Litecoin - American Wrap: 12/17/19

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Bitcoin, Ethereum & Litecoin - American Wrap: 12/17/19

Bitcoin Technical Analysis: Short, medium and long term

  • The weekly chart is showing that more downside could be on the cards.
  • 6270.01 is the main support on the downside and beyond that, the internal trendline might stem some losses.
  • If that support is broken then it could lead to some more capitulation based on the signals on the chart.

Ethereum technical analysis: ETH/USD additional pressure is in play following bearish pennant breach

  • Ethereum price is trading in the red, down 1.90% the session on Tuesday. 
  • ETH/USD has been at the mercy of the bears since losing the psychological $200 price mark. 
  • The price running closer towards a big $100 price retest, which could spark further panic selling. 

Litecoin technical analysis: LTC/USD no slowdown of selling pressure with $30 mark eyed

  • Litecoin price is trading in the red in the session by some 3.25%. 
  • LTC/USD is in firmly heading to the south, following key technical structure breakouts. 
  • The next major daily support area of interest is seen down at the $30 price mark. 

Image by Miloslav Hamřík from Pixabay

 

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