Bitcoin, Ethereum and Litecoin Price Forecasts
What may not be known to a lot of observers and traders in the market is the extreme infancy of the cryptocurrency market. Oh, people know it’s still ‘new’ and that ‘it can continue to go up and up’. But how far? I’ve spent the better part of two days compiling and hand drawing some charts to show that for Bitcoin, we have not even entered a technical bull market. And that Ethereum just entered its official real trading period. I want to review and analyze the three ‘Majors’ (I consider Bitcoin, Ethereum, and Litecoin the 3 majors) and then forecast using Gann analysis to where their next major levels are going to be.
1. This red diagonal line extends from the very beginning and open of Bitcoin starting at the 0.00001 price point. It’s a 45-degree angle from the exact ‘birth’ of this instrument. Observe how price was rejected on that line back in December.
My one week target for Bitcoin of 16,660 was hit on Friday (forecast was on or around next Tuesday, the 9th). My forecast target area for the next two-week cycle is the 17878 value area to be hit by the 16th.
2. Moving forward a few months, I expect and forecast Bitcoin to be trading around the 33,466 value area on or around the 12th of April.
1. Just like Bitcoin and its zero point 45-degree line, this blue diagonal line represents Ethereum’s 45-degree line from it’s opening trade day. However, unlike Bitcoin, Ethereum has officially and technically entered into a real bull market and trading zone. All we had before this price move was an accumulation phase – that’s it. Now is the real trading beginning of Ethereum. So where will it go?
2. I have forecasted two ranges of price where it may go between now and mid-February. The first zone and price area is the 1155 area before 2/8. The second price area is 1369 before 2/16. These are very natural and conservative price forecasts for Ethereum in the near future.
1. Short term, we have Litecoin trading inside one of the first resistance arcs. We should not expect Litecoin to sit around here very long. In fact, we should expect a big outside of the 300 area and just burst away from that arc. I have Litecoin projected and forecasted to be @ 362 by at least 2/4, this is the most conservative forecast.
2. This blue diagonal line represents Litecoins birth 45-degree angle. Litecoin is still not in its official trading range (just like Bitcoin). The price forecast above it for Litecoin to be trading at around 625 before 4/12.