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Cryptocurrencies Bullish Technical View

Marios Athinodorou
Updated

Key Points

  • BTCUSD Fresh Bullish Kumo Breakout

  • ETH/USD Fresh Bullish Kumo Breakout

  • XRPUSD may start a new uptrend

Bitcoin (BTCUSD) Technical Analysis

Based on the Ichimoku system, the price is out of the cloud and the tekan sen and kijun sean seem to be in a bullish formation.

The chikou span is above the price meaning that the small uptrend was formed may continue.

But before we start looking for any potential bearish signals we need to have a bounce on the tekan sen or kijun sen.

BTCUSD 1H Chart

Bitcoin 1H Chart
Bitcoin 1H Chart

Ethereum (ETH/USD) Technical Analysis

Based on Ichimoku system it can be noticed that the price is also above the cloud. The kijun sen and the tekan sen seem to be in a bullish formation. The chikou span appears above the price.

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Now the picture here seems to be bullish for the moment and we would be more confident if the stochastic was below the 20 level.

Other clues here that may state a potential bearish momentum are the blue color of the cloud and the slope of tekan sen.

Now based on the Ichimoku system we would like to see here the possibility of the price to bounce on the tekan sen start looking for any potential signals.

ETH/USD 1H Chart

Ethereum 1h Chart
Ethereum 1h Chart

Ripple (XRP/USD) Technical Analysis

On XRPUSD it can be observed that the price has formed a confirmed bullish Kumo break out yet based on the Ichimoku system.

The tekan sen and kijun sen seem to be in bullish formation, the chikou span is above the price and the cloud seems to be on the bullish mode.

What we would like to see here before start looking for any potential signals is the bounce of the price on the tekan sen line.

XRP/USD 1H Chart

Ripple 1H Chart
Ripple 1H Chart

This article was written by Marios Athinodorou, TeleTrade’s market analyst, and commentator. Among others, Marios is delivering weekly trading webinars. Sign up for upcoming webinars here.

This article was originally posted on FX Empire

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