Bitcoin & altcoins: the race for performance started

Credit: Miloslav Hamrik – Pixabay

The upward trend of Bitcoin and altcoins, Ethereum, Litecoin or XRP, continues, as discussed in section technical analysis. Let's do a check in.

Key technical factors of the article:

• As the uptrend continues, here is an update of new technical thresholds to follow closely.
• In the race for relative performance, we can already make a first ranking since the start of 2020 on BTC / USD, ETH / USD, LTC / USD and XRP / USD.

The upward trend reversal in bitcoin price and others crypto-currencies of the first rank was done in a very constructed manner, without excess, without speculative bubble and after having respected all the usual stages of the bullish reversal defined by technical analysis financial markets.

My last analyzes published on Cryptonaute give more details on this subject. Since my previous technical post, where are we?

Relative performance since January 1, 2020

There is already something in common with last year, LTC is leading and widening the gap. But above all, XRP, the big banned of 2019, shows 46% performance and presents a promising technical configuration for the next 11 months.

Now let's come to bitcoin price technical analysis. My bullish targets proposed at $ 8,500 and $ 9,500 have been made and the $ 10,000 is the next step.

The graph below, which shows the Japanese candles in monthly data, illustrates how much the month of January 2020 has not been seen for a long time and that it carries the signal of a bullish year 2020 online.

Nuance all the same: You have to exceed $ 10,000 to be more serene on this bullish scenario.

Likewise, under support at $ 8,500, this scenario falls apart.

Bitcoin price in monthly candles – TradingView

Follow Vincent Ganne on Trading View for further analysis on the financial markets.

The technical thresholds and the trend indicated above are based on the technical approach "price, momentum, sentiment, ichimoku". The data come from Bitstamp and the graphics of TradingView.

This content is provided for informational purposes only and does not constitute an investment recommendation. We remind you that theinvestment in crypto assets, including Bitcoin, is extremely risky. Cryptocurrency prices are prone to large and unpredictable price movements.