In this update I look at at technical analysis for Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Monero (XMR), Ripple (XRP), Ethereum (ETH) and EOS for May 1st 2018. The optimism of yesterday appears to have faded – albeit temporarily – as we find most Cryptos have declined over the past 24 hours. I view this as the affirmation that we are going to see more sideways type action in the coming days. It is not unlikely that we may see the evolution of wedge formations on the charts, from which we can witness a sharp breakout either to the upside or downside on volume. It is too early to tell it that will transpire with certainty, but it is a definite possibility.
Monero is the weakest out of our selection of major Alts today. This is primarily due to some nasty fundamental news out of Japan, where it appears the FSA is pressuring exchanges to delist privacy tokens.
This video is for educational and entertainment purposes only. It should not be taken or relied upon as financial advice. I am not a financial advisor. All investments have risk and involve the potential for the loss of capital. Crypto-currency investments are especially volatile and are not suitable for all investors. Please never invest more than you can afford to lose.