Price Technical Analysis: Bitcoin, Ethereum & Ripple
BTCUSD held on the monthly pivot point ($2528), which we said would be key in the short term direction of this market. It held with two low test bars, suggesting that we will see a move back up to the highs ($2938). Should we break through the all time highs ($2980), that would open up a move up to R2 ($3382), just short of round number $3400.
Monday is the last day of the month, should we close above the monthly and weekly pivot points that gives us extra confirmation that this market will continue to rally higher.
The cryptocurrencies generally are fairly correlated however with Bitcoins new solution agreed, we could see some divergence between bitcoin and the others coins.