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December 18, 2018 / by Bill Noble
The big coins under Bitcoin (BTC) are stalled. All these coins have a resistance determined by Elliott Wave analysis. It seems that all these coins are stopping at horizontal resistance. The horizontal resistance is taken from the starting point of the sales climax that led to the recent fund. Elliot's jargon is "a return to a previous quarter".
In Ethereum (ETH), there is resistance to $ 97 and greater resistance between $ 100 and $ 102 (Figure 1). It could be extremely difficult for Ethereum to break through these points of resistance.
Figure 1
Litecoin (LTC), the story is similar. Great resistance between $ 30 and $ 31 (Figure 2). At this moment, the resistance is waiting. It remains an open question if Litecoin (LTC) is strong enough to break this resistance.
figure 2
Bitcoin Cash SV (BSV) has room to reach its resistance level equivalent to $ 87 (Figure 3). An analyst from Crypto.IQ wrote a good article about the Bitcoin Cash group. Technically, a good break above $ 87 is required to take BSV seriously as a great cryptography.
Figure 3
EOS of the wild race continues. EOS reached a horizontal resistance point at $ 2.62 (Figure 4). This is probably the most technically unpredictable currency in the sense that drawing the correct horizontal resistance is more a game of riddles.
Figure 4
Bottom line: Based on how these big coins are behaving, there's a pause for calling a cryptographic fund. Bitcoin (BTC) on Bitmex is still waiting to exceed its key resistance point near $ 3,626. Real buyers will have to emerge in great cryptography to get these coins out. Join me in the Crypto.IQ trading room to continue to monitor the charts of these coins and Bitcoin (BTC) for signs of a sustainable crypto break.
