This has been a rough week in the crypto market. But as I expected, crypto prices dropped further, and some of my buy levels were triggered today.

-Short term over the next few days, I am still bearish on these cryptos.

-Long term several months out, I am bullish on cryptos.

BTC/USDT (Bittrex)

Previous Post (Jan. 31)

Daily Chart

Today's Update

Daily Chart

From a technical perspective, there are many signals indicating that BTC should have a decent correction from around 7500-8000 USDT. The only thing that can keep BTC from bouncing at this price range is more bad news. This would probably lead to another fall to 5000 USDT. I would be surprised to see it fall below 5000.

ETH/USDT (Bittrex)

Previous Post (Jan. 31)

Daily Chart

Today's Update

Daily Chart

ETH has minor support at 750 USDT. But I think 650-700 USDT will be a good buying area. 500 USDT will be the ultimate area of support in my opinion.

XRP/USDT (Bittrex)

Previous Post (Jan. 31)

Daily Chart

Today's Update

Daily Chart

The next best area of support is the 200 day SMA.

I provide frequent updates on cryptos and US stocks along with occasional updates on forex and futures. I use fundamental and technical analysis to dictate where markets go.

Disclamer:
I am not a financial adviser nor is this professional financial advice. These are just my opinions and you should do your own due diligence before making any investments.