Bitcoin

(Bitstamp:BTCUSD 2h)

After forming a good consolidation above the 61.8% support of the macro extension, Bitcoin pushed up yet again, reaching as high as $9023 before pulling back a little to the 38.2% support. This climb came on decent volume and continued new highs on both the RSI and MACD.

A small consolidation around support would be a very strong sign and would allow us to build up a position, but the trend may just continue rolling. Bitcoin is certainly looking a lot stronger than in recent months, so I'm sure many opportunities for bullish positions will present themselves in the next few weeks. However, as always, I prefer to buy into the pullback rather than the trend, so I'm not increasing my exposure at the moment.

Ethereum

(Bitstamp:ETHBTC 1h)

After breaking upwards on the 19th and making a clean trend up to 0.07000, ETHBTC tried to push upwards yet again, but hit resistance at 0.07116 with strong bearish divergence, before breaking back below the 0.06775 support today. Currently, we're making a bit of a bounce back towards highs, but I suspect we'll see another low yet.

This may form a large descending wedge/ flag, which would be a bullish sign, but that remains to be seen on the retest below 0.06775. I recommend holding off on building up positions until a good support level has been confirmed.

Bitcoin Cash

(Poloniex:BCHBTC 2h)

Bitcoin Cash also saw bearish divergence before a swift pullback from highs, however BCHBTC has moved to retest the 0.1342 resistance extremely quickly and with a good volume spike. Volume has been increasing throughout the length of the recent climb, showing a lot of strength to the bullish leg.

Once this trend has calmed down a bit to form a bullish consolidation zone, I will be looking to build up a long. Until then, I'm happy to hold off and watch the fireworks from a safe distance.

Litecoin

(Poloniex:LTCBTC 2h)

LTCBTC managed to break upwards from the ascending wedge we looked at in my last analysis, but the break came with bearish divergence on the RSI and MACD and, as suspected, Litecoin then dropped back to retest lower support.

As with ETHBTC, it seems best to wait this out and only look to take positions once a good support has been confirmed with a retest.

Monero

(Poloniex:XMRBTC 2h)

And the same Altcoin pattern is seen in Monero as well, with the bullish trend attempting to make new highs but pulling back after bearish divergence. The same advice applies, waiting for a solid support is recommended as it'll reduce downside risk on any positions we choose to take.

Disclaimer

I will do my best to give unbiased, objective analysis, but I can make no promises about my accuracy.
All posts are based on my personal opinions and ideas and do not constitute professional financial investment advice.