These forecasts are based on my interpretation of the current charts & technical indicators and the expected short term moves. To avoid clutter, I will exclude the charts from here & will focus just on the forecasts. The forecasts are for the next 3 week period (till Feb 10 2018) and are generally bullish based on what we know right now but should be taken with a pinch of salt as further news and sentiments can drive the prices crazy.
Bitcoin (BTC): As long as bulls defend the 11,000 – 11,200 zone, Bitcoin should be able to test 14500-14700 (or the 50 DMA level). 50 DMA can be a very strong resistance but if that breaks, we will see 17500 in quick time.
On the other hand, what happens if 11,000 breaks? In that event, we may see a re-test of 9700 (which was our January target that was met last week). If 9700 doesn’t hold this time, then hold your breath & be prepared for 7800.
Bitcoin Cash (BCH) : Ready to spike. If BTC runs as above, this one should actually gallop. The FIB retracement targets are 2725 & 3050. But it has to cross two hurdle zones (Resistances) to reach our targets: the 1980-2000 zone & the 2200-2220 zone.
The forecast is valid only if BCH does not breach 1650. what happens if it breaches that level? In all likelihood, 1200 level will be tested.
Ethereum (ETH): I have a 2018 forecast of 5,000 for this crypto. But coming to the short term forecast for 3 weeks, I am looking for a decent run to 1300 level first. And if BTC stays on course as per my forecast above, then we should see new highs around 1600-1700 in Feb for ETH. One hurdle to cross: The 50 MA (4 HOUR) zone around 1100-1120.
On the other hand, if the bears get aggressive and are able to break 950-960 decisively, I will be looking for a retest of the 770-800 zone.
Litecoin (LTC): It is sitting pretty & looking pretty but my conviction on this will get better only if two hurdles are cleared. One, a minor resistance at 214, and the other, a major resistance – the 50 DMA around 238. If the 50 DMA is cleared with aplomb and good volume, I will bet on 305 & 375 as targets for Feb. Till then, it is a 50:50 toss up.
However, a break below 145 (not expecting it but just in case it happens), will make it undoubtedly bearish with a target of 105.
Ripple (XRP): The earlier forecasts (drop to the 1.00 – 1.20 zone from 1.80 as forecast on Jan 1 and then the spike to 1.65 from 0.90 as forecast on Jan 16) have been met already. Now after a small retracement, Ripple looks good for a run to 2.25 (50 DMA) and if that breaks, then to 2.70. One major resistance to cross: 1.70 for this week
Ripple is my favorite crypto and I have a target of $8 – 9 for 2018. I see 60c-70c as the probable bottom in the worst case scenario this year.
Stellar – Lumen (XLM): This also appears bullish based on current charts and I expect XLM to follow what XRP does. I don’t see much of a change in course between the two. The short term target is 72c and if that breaks, a full FIB retracement to the prior high at 92c is forecast.
The worst case scenario / bottom for XLM this year could be 18-20c in my opinion.
See the links below for the prior forecasts and charts (only few are posted here, others can be found on Twitter & StockTwits)
Some recent forecasts
Ripple Forecast from Jan 16 (target 1.65)
ETH Forecast from Jan 10 and Jan 15