12 März 2019

Technical Analysis Tuesday 12th of March 2019

Yara Ainsworth

Yara Ainsworth

Head of Marketing und Communications bei Crypto Finance AG

Über den Autor

It’s TA-Tuesday again. Let’s have a look at some charts.

BTC$ daily


Looking at the big picture, there are no changes to report to our last analysis. Having said that, though, we made some significant changes in our pattern drawings. We changed from a symmetrical triangle to a ascending triangle (black lines).

The topside, at around 4,250, was touched three times, and the lower leg was tested twice.

Currently, we are sitting in the middle of the triangle, bang on the base line (blue). The ascending triangle is a bullish pattern. Therefore, we are looking for a breakout to the upside. The level to watch is 4,250.

BTC$ 4h

Currently, we are just sitting at the high price volume level of 3,850. Other support indications such as the base line (blue) and also the lower band of the Ichimoku cloud are coming in at around 3,750-3,800. The cloud is bearish, and therefore we are seeing a higher probability of pushing another leg lower.

Watch the 3,750 level as an indication. The first support comes in at around 3,650 and 3,550.

ETH$ daily

Over the past few weeks, we were trading in a narrow trading range with one exception: when we tried to break into the resistance zone, which comes in just above the 160 level.

Trading activity/volume has been rather high since the beginning of this year, which created a nice liquidity pool with the peak at just around the 130 level.

For the first time since April 2017, the Ichimoku cloud has the potential to turn bullish. The body of the cloud is very narrow.

The picture looks very similar to BTC$ with an ascending triangle. Hence, we are favouring a break to the upside.

ETH$ 4h

For this time frame, an imminent bullish breakout is not in the cards. We are below the base line (blue) and below the lower band of the cloud.

The next support comes in at around 120, which is a minor liquidity pool and converges with the lower leg of the ascending triangle. Topside resistance is at 140, and then the upper leg of the triangle.

LTC$ daily

Litecoin is still the most promising looking setup. The Ichimoku cloud turned bullish, and we are trading way above the body of the cloud. We are also above the base line (blue).

We are now in the retracement phase after we hit the 60 resistance level. As long as the correction does not go deeper than 42, we value it as a healthy one and are looking for the bullish trend to resume. Our target to the upside is between 67-72.

LTC$ 4h

Not much to add for this time frame. All indications are bullish and the structure looks healthy.