Cryptocurrency Charts: Bitcoin & Litecoin on a Similar Course

Highlights:

  • Bitcoin declining towards support zone, could be carving out a wedge
  • Litecoin also declining towards support, taking on similar path as Bitcoin
  • Ethereum struggling at top-side slope, decline towards trend-line could be next

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Bitcoin declining towards support, price action working towards possible wedge

Today, Bitcoin, along with other cryptocurrencies, is declining on overnight news that various South Korean exchanges were raided by tax officials and police. The drop in Bitcoin is taking it closer to the significant support zone in the vicinity of 11750/160 we’ve been discussing in recent days.

The most important aspect of noted support, is the slope rising up from May. It is viewed as a line-in-the-sand before a much larger decline could unfold. One possible scenario could play out in the weeks ahead is a wedge, either symmetrical or

Article source: https://www.dailyfx.com/forex/technical/article/special_report/2018/01/11/Cryptocurrency-Charts-Bitcoin-Litecoin-on-a-Similar-Course-PRtech.html?DFXfeeds=forex:technical:article:special_report