U.S. Markets closed

Bitcoin, Ripple & Litecoin - American Wrap: 11/27/2019


BTC/USD Technical Analysis: Perfect Textbook Technical Pattern Is Very Close To Being In Play

The head and shoulders pattern is one of the most famous in technical analysis.

Now it seems on the 4-hour chart BTC/USD is forming a perfect one.

If the price breaks and closed above 7,400 that will trigger a potential upside target of between 8K and 8,200.

With the head and shoulders pattern the target is based on the pattern length. 

XRP/USD Technical Analysis: Ripple breaks higher but can it sustain the move?

As you can see from the chart below the price has recently shot higher.

The 0.2255 level has been used on a number of occasions as a support and resistance level.

The next potential resistance lies at 0.2355 which has been respected on three occasions.

LTC/USD Technical Analysis: This resistance level is hitting the price hard intraday

Looking at the hourly chart below its clear to see that the 47.22 level is giving LTC/USD some trouble.

Bitcoin, on the other hand, has broken higher and maybe this can have a lagging effect on Litecoin.

Longterm. this level was pretty significant back on 23rd October as it was where price found support after a heavy drop.

Image Sourced from Pixabay


See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.