Technical Analysis: Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple

This week, we will use technical analysis to look into the current price action of Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple.

In the short term, $10,000 will be a key resistance level, but if Bitcoin definitively breaks that level it looks to be on its way to the red resistance area.

Ethereum blew right through the highlighted resistance level last week after breaking out of the cloud.

Keep an eye out for the price action over the next few weeks to look for bounces off the area.

After making a major move out of the cloud, Ethereum is heading towards the Tenkan-Sen. The Tenkan-Sen was sloping upwards indicating high momentum in the market, but it is currently flattening out.

Litecoin looks similar to last weeks chart after making around a 10% move.

Adding Ichimoku Clouds, we see Litecoin is close to exiting the cloud.

Bitcoin Cash was one of the weeks largest gainers, seeing a 35% increase.

Technical analysis is not always correct, and should only be used to make more educated guesses on your trades.

A combination of both fundamental and technical analysis should be used to ensure more successful trading.