Ripple closed with another long green candle, confirming that bullish momentum has been picking up.
Bitcoin | BTC $ 6708.77 4.43%
Ethereum | ETH $ 227.08 7.81%
XRP | XRP $ 0.49 43.03%
Litecoin | LTC $ 58.18 6.82%
Rachel completed her degree in Mathematical Finance in 2009 and has since been involved in technical analysis of various markets, such as forex, commodities, and digital currencies.
Bitcoin continues to hover around the bottom of its wedge, even with a pickup in volatility.
Ripple has closed above the top of a long-term descending trend channel to indicate that a reversal is in order.
Bitcoin failed in its last two attempts to break below the $6,200 level, creating a double bottom reversal pattern on the 1-hour chart.
Ripple has limited its losses as it tests a nearby area of interest and might form a downtrend reversal pattern.
Bitcoin made another sharp tumble after a small bounce, signaling that bears are very much in control of the game.
Bitcoin has formed higher lows and higher highs on its 1-hour chart to create a rising channel.
Ripple might be done with its slide as it attempts to form a double bottom on its 4-hour time frame.
Bitcoin has broken above its small triangle consolidation to signal that bulls are returning and could lift it back up to upside targets.
Litecoin was rejected on its test of the descending channel resistance visible on the 4-hour time frame.