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December 17, 2018 / by Bill Noble
The big coins have reached important levels of tactical pivot.
What is a level of rotation? A rotation level is used as an indicator. If a coin passes a pin and keeps that level on a new test, you can say that the prospect is bullish. If a coin comes to a pin and opens above and then fails, or if the coin is ejected at the center of the pin, one could say that the reading is bearish.
Looking first to Ethereum (ETH), there is a large 100-speed resistance line (Figure 1). Given the scale of the rally today and the Fed meeting on December 19, there could be a good battle between bulls and bears close to $ 100 in Ethereum (ETH).
In EOS, the key pin is a Fibonacci speed line near $ 2.50 (Figure 2). How EOS behaves at this level will give you a clue about future direction. The EOS exceeded 20% at the time of writing this report, so waiting for a confirmed break above $ 2.50 before being constructive would be wise.
Litecoin (LTC) achieved resistance greater than $ 31 (Figure 3). What happens at the $ 31 level will tell you a lot about the future direction.
Bottom Line: With a Fed meeting coming on December 19th, it's a good technical and fundamental case to wait and see on Ethereum (ETH), EOS and Litecoin (LTC). I would watch carefully how each coin is exchanged at the pins we have established above.
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