Cryptocurrency forecasts for week of Jan 22nd, 2018
We have some good short-term targets for our major pairs and other currencies in the upcoming week.
The $14,400 area should still be in our targets going into next week. We really do need to close above the $12,300 area before that move can take place. Bitcoin continues to make higher lows, but we are also making lower highs on the daily. Zooming into an hourly chart shows some bullish momentum and we are currently coiled and ready to enter the $12,000 zone. The $14,400 zone brings us back into a middle-value area and back into a positive trend line. This is the strongest probability going into next week (barring any regulation language).
Ethereum should accelerate nicely. Those dips below $1,000 this week were just a ridiculously late Christmas gift. I have talked about the move on Ethereum being very extended and how it has moved twice as fast in price as it has in time. This snapback in price was expected and warranted before there was even a retrace of Bitcoin and the entire cryosphere. If we can even touch the 1140 handle, we will have created a candlestick pivot on the daily chart. With price and time being back in equilibrium this means we should continue our uptrend and continue to all-time highs with a target of the$1,500 zone for next week. We may very well exceed that level.
Of all the majors listed on Coinbase, Litecoin is the coin I am most excited about. It is a better and more efficient coin and blockchain than even Ethereum. It is really the sleeping giant here. It is stuck in time in its arc and has been this way for almost two weeks. Its real value is near $240. What I’m saying is that the price we observe on the chart is not real. The real price level is stuck in time. It’s buffering. It’s still syncing. We have a major move coming on this coin and I expect us to hit the $313 value area very easily text week. This may be enough momentum to thrust us back into the 45-degree angle and continue our move to the top.