Today is January 18, 2018 and we have a nice reversal patterns on all major cryptocurrency charts.
Below is a daily chart for BTC showing Yesterday's Green Candle with long shadow tail (A bullish sign) which needed a confirmation.
The next candle (today's candle) is also showing a bullish sign as it did manage to recover after a slight fall leaving a shadow tail and growing up by 5% from yesterdays close.
On the LTC chart we have a similar scenario with a bit stronger confirmation candle which is still open until it closes at the end of the day:
Ripple managed to create even stronger bullish day currently up by 20% since yesterday.
We need to see the closing candle today and tomorrow in order to conclude. At the moment there is a possibility that this short rallies could be a selling opportunity for scalpers and intraday traders.
I advice if you decide to join the bulls, do not go all in. As I mentioned above this rallies need further confirmation for us to believe it is a bullish reversal.
Thanks for reading and
Good luck
All majors are down reacting to India's announcement of cryptocurrency ban.
Yesterday India Banks have shut down cryptocurrency trading accounts.
Another wave after South Korea and China coming again from Asia.
India with is population over a trillion has a massive impact on the markets.
Thanks, informative write up.
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