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Bitcoin, Ripple & Litecoin - American Wrap: March 9, 2020

Bitcoin Price Analysis: Elliott Wave harmonics are at it again! Now the bottom of the pattern has been broken the market will start to look for targets.

Benzinga · 03/09/2020 21:49

Bitcoin Price Analysis: Elliott Wave harmonics are at it again!

Now the bottom of the pattern has been broken the market will start to look for targets.

The next target would be the 261.8% Fib extension level but this current support will need to be broken. The current support is the consoldation high from 23rd December,

Then if that is the case the main low of 6,432.04 could be the major target low.

Ripple Price Analysis: Are we going to test the recent lows?

Ripple is really struggling at the moment after very heavy losses this weekend.

The price is now heading toward the lows of 0.1752 you can see on the daily chart below.

The capitulation from the 50% Fibonacci retracement has been very fast.

Litecoin Price Analysis: Big confluence area acting as support

Litecoin has moved lower on Monday much like all the crypto majors.

The 78.6% retracement nicely matches with the 200.0% extension level.

The price looks like it's trying to bounce here for a move higher but the sentiment is soo negative at the moment.

If the price does break lower the 261.% extension lies in wait.

Image Sourced from Pixabay