Hey, mates. This is Andrew Strogoff again and today we are going to discuss Bitcoin and several altcoins. As you can see, the situation on the crypto market looks promising as many new investors have jumped into this leaving bullish train, which picks up speed and is almost ready to take investors to the moon.
I have thoroughly read the news but I found nothing that could be a reason for such a huge momentum. I think that the main reason for this growth is that investors are bored of this downtrend and want some money that they can make on the uptrend only. Anyway, I have prepared some interesting events for you to take a look through.
The first thing I want to share with you is the future appointment of new Goldman Sachs CEO David Solomon who is known for his positive attitude towards cryptos. Could this news be the reason for the current growth? I don’t think so, but what is clear is that this event may be the fuel for coins growth in the nearest future.
The other great news comes from China. This country is famous for its negative attitude towards cryptos but they are interested in Blockchain technologies. Beijing has registered six times more Blockchain companies in 2018 as compared to 2017. And now let’s get down to technical analysis, so fasten your seat belts as we are going to rock.
Bitcoin (BTC/USD) huge price gains, but still have some fuel to skyrocket, price analysis, July 18
Do you remember the last time Bitcoin added more than 10 percent in just 24 hours? I don’t but in fact, this is a good sign for the main crypto and the whole industry as the others will follow BTC/USD in this huge uptrend. The currency pair has done great work on Tuesday and reached my targets. Moreover, Bitcoin went even higher, bringing more profits to investors. Is that all? I don’t think so. I believe that the show will go on in the nearest future.
Well, mates, let’s see what’s going on the four-hour chart currently. I have put a green rocket there as I think that Bitcoin looks very promising. BTC/USD had no problems to surpass $7,000 on Tuesday and seems to have enough fuel to develop this progress in the nearest future.
As for my closest targets, I think Bitcoin is going to reach $7,734 in the nearest future. Why this level? I think that the volatility is going to decrease. Moreover, I suppose that BTC/USD is going to make a sort of a correction or better a consolidation before resuming its uptrend. There are no patterns currently but I don’t think they are needed in this situation. News that Bitcoin is alive, will bring more buyers than any of those technical tricks could do.
Ethereum (ETH/USD) Buterin’s brainchild is fit again, price analysis, July 18
Ethereum looks modest as compared to Bitcoin as it added less in the past 24 hours. However, I’m pleased with this growth. Look at this green flag on the four-hour chart. This was my target for Wednesday and we are there! However, I don’t think that bulls are going to hide now as they look like titans currently.
Do you see this green rocket on the four-hour chart? Oh yes, this is my new target for Wednesday-Thursday. I think we are going there currently, but I want you to be patient as ETH price may test $500.36 again before flying higher.
I see no clear patterns currently but I don’t think we need them. Bulls are playing their muscles and it seems that nothing can stop them now. My next target is at $540,69, but if the price goes even higher, I would be happier.
Ripple (XRP/USD) another great day for the promising coin, price analysis, July 18
Ripple makes new local highs and makes me happy again as my targets were reached on Wednesday. However, I think that this is not the end and XRP/USD is going to surprise us again. This small green flag is just an interim target for the currency pair.
XRP price stopped above the $0.5088 level. Ripple makes more than seven percent in the past 24 hours as bulls continue to build a strong support to the currency pair. Ripple skyrocketed already but still has fuel to do it again. I’m far from thinking that XRP/USD will develop its uptrend without a break but I think Ripple is very promising currently.
As for my targets, let’s look at the four chart to see them. There are no patterns currently and I think XRP price is going to retest this $0.5088 level from above to satisfy bears needs. However, I suppose XRP/USD is going to fly higher and reach $0.5444 in the nearest future.
The bears are smashed currently and have no control over the market. The only thing they can do currently is just to watch the train leaving their station.
EOS (EOS/USD) good opportunities for investors, price analysis, July 18
“What’s going on with EOS” you may ask? Nothing wrong, mates! EOS follows its allies in an attempt to break the gravity rules. My targets for Wednesday were reached as the price touched the green flag, but the trend must go on! This is my idea for the nearest future.
EOS had no troubles to overcome $8.29 and $9.03 level. It was like there were no bearish defensive lines there. EOS price made a significant move on Wednesday already and I think it is time for a break now. EOS/USD is close to the support at $9.03 and is testing it currently. Technical analysis requires a sort of correction or consolidation here but let’s be patient. We have some targets to reach still.
I have placed my green rocked even higher at $10.21. Is this the target for Wednesday? I don’t think so, but it is reachable and I suppose EOS price will get there in a couple of days if bears remain smashed. I will wait for my beloved EOS there as I have some more bullish targets above.
NEM (XEM/USD) rocket is flying, price analysis, July 18
I like NEM for its correlation with big players like Bitcoin. The currency pair has made more than eight percent in the past 24 hours. XEM/USD was volatile on Tuesday-Wednesday and I think there is enough gas in its engine to develop its flight. Investors are hungry for new gains and I think they have woke up to make some significant achievements.
Anyway, I remain bullish in this situation. I think that NEM is going to make a short break there in order to gather more buyers before this rocket will continue its flight. I also think we need to test $0.1883 before going any higher. This is not necessary, naturally, but according to technical analysis, correction is needed here.
My next target is set at $0.2248. It is far from here, but I like it. I like those huge moves and I think we are going to reach it in the next couple of days. However, remember that bears are also not sleeping now. Be careful in those twisted investing paths.
P.S. If you asked me, when Lambo, I would say “After to the moon”☺ Take care guys and follow my reviews.