Key Points

• Strong bullish momentum to break towards new highs
• Altcoins struggle for direction
• Major trend remains upwards

The primary crypto currency recorded a high of $19,575 before prices dropped slightly above the $19,000 price level. Ethereum initiated an impressive leg up that drove it to $598 before it dropped to about $580. Despite failing to clear the all-time high bitcoin is outperforming the alternative coins by a very wide margin.

The alternative coins have also been volatile coming from the weekend though not at the same level with bitcoin. They mirrored bitcoin with massive price drops and fast recovery sessions during the weekend. Ripple continued its struggles since the Spark airdrop snapshot on Saturday. Despite briefly spiking above $0,50, XRP has retraced and currently sits at $0.49.

The all-time high is still the level for bitcoin bulls to clear in order for momentum to return in the market and if the price rejection continues support for BTCUSD is at $18,500.

Bitcoin; 4 Hour Chart

The 200 Moving is pointing upwards indicating the strength of the trend. Price slipped during the first of the month but managed to find support on the 200 MA at the $17500 region. The ascending (blue) support line has been sufficient in holding up prices as the uptrend remains robust. Buyers will then wait for prices to fall towards the $18000 region, at the support line and then buy the deep. This will prove to be a good strategy if the bullish trend remains intact.

Trends

Moving Average	Simple	Exponential
60	18782.26 BUY	18797.87 BUY
100	18844.69 BUY	18626.18 BUY
200	18157.97 BUY	17830.22 BUY

Pivot Points (Daily)

Name	S3	S2	S1	Pivot	R1	R2	R3
Bitcoin	16856.15	17398.85	17751.14	17941.55	18293.84	18484.25	19026.95
Ethereum	509.50	528.10	538.77	546.70	557.37	565.30	583.90
Ripple	0.45	0.50	0.54	0.56	0.60	0.62	0.68
Litecoin	65.08	68.63	70.82	72.18	74.37	75.73	79.28

Pivot Points (Weekly)

Name	S3	S2	S1	Pivot	R1	R2	R3
Bitcoin	14949.01	16787.97	17825.65	18626.93	19664.61	20465.89	22304.85
Ethereum	421.03	494.24	531.24	567.45	604.45	640.66	713.87
Ripple	0.25	0.39	0.44	0.53	0.58	0.68	0.82
Litecoin	43.97	60.77	68.35	77.57	85.15	94.37	111.17