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Bitcoin, Ethereum & Litecoin - American Wrap: 2/24/2020

February 24, 2020 3:15 pm
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Bitcoin, Ethereum & Litecoin - American Wrap: 2/24/2020

Bitcoin Price Analysis: The wave pattern suggests further weakness

Bitcoin is having a down day on Monday.

The digital gold is trading over 3% lower on a bad day for cryptocurrencies.

The chart below shows the Elliott Wave count on the 4-Hour chart.

We could now be in the 3rd wave lower which is normally the longest but never the shortest wave down in the wave formation.

Ethereum Price Analysis: ETH/USD bullish pennant subject to a breakout

Ethereum price is trading in the red by 2.10% in the session on Monday. 

ETH/USD price action is moving within a narrowing pennant structure, room for the bulls to capitalize. 

Critical support should be noted via the $250-40 price range, propping up ETH.

Litecoin Price Analysis: LTC/USD finds some support at 74.00

Litecoin has found some support after having a torrid start to the session on Monday.

There could be some resistance at 75.00 and 80.00 beyond that.

The volume has also picked up during this latest small buying spree.

Image Sourced from Pixabay

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