Bitcoin, EOS, Ripple All Currently In Uptrends
Guillaume Touzet | Dec 19, 2017 06:32AM ET
Here is our egoldfx algorithm scanning some of the most important cryptocurrencies:
BITCOIN (BTC/USD - Yellow line): Still in an uptrend that started on 2017-11-15 with entry price of $6915 (currently: $18500).We just had a trend reversal alert on the egoldfx algorithm when the bitcoin strength line in yellow moved down from above 70 to below 70 and it is still falling. This alert needs a price confirmation with for example a break of the nearest support to become a valid trend reversal signal.
EOS (EOS/USD - Blue line): It is still in an uptrend that started on 2017-10-29 with a price of $0.60 (currently: $10) when the egoldfx algorithm confirmed a new uptrend few days before. We received few days ago a downtrend alert which is still active but not confirmed by price. Yesterday, the EOS strength line in blue just move from below 30 to above 30 and if it closes tonight above yesterday level, the downtrend alert will be canceled and the current uptrend will remain valid.
RIPPLE: (XRP/USD - White line): Ripple is also in an uptrend that started on 2017-12-10 with a price of $0.257 (Currently: 0.775) when the egoldfx algorithm send a uptrend alert few days before.Like EOS, we received a downtrend alert few days ago which currently is not confirmed by price. Yesterday, the RIPPLE strength line in white just move from below 30 to above 30. If tonight it closes above yesterday level we will void the downtrend alert and the current uptrend will remain intact. If tonight it doesn't close above yesterday level, then the downtrend alert will remain active.
Good trading
eGOLDfx Team
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