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Sufwantariq11@gmail.com
3/27/2018
Mar 27, 2018 (Market Report & Price Forecast)
Sufwan Tariq
(Certified Commodity Broker, Portfolio Manager & Investment Adviser)
FORECAST:
If the bullish trend line consistently holds, market expects to make new HIGHER HIGH this time and that will be
around $25000 - $30000 as per fibo extension levels. My forecast for Q2, 2018 is $25000 in BTC vs USD.
ETH / USD:
DETAILS:
ETH vs BTC is technically looking very weak and sliding down very sharply, but RSI shows the pair is over-
sold which means, at least, a pause in decline may ahead.
ETH vs USD looks very interesting and formed a very good technical pattern i.e. trendlines and head &
shoulder pattern.
ETH/USD has very strong support area around 400-450 USD.
Head & Shoulder is expected to be completed in between 400-450 USD level.
$400 acted as strong resistance earlier which becomes new support now.
FORECAST:
I’m expecting the bullish trend line will hold again and may provide ETH a bounce. My forecast for Q2, 2018 is
$1500 in ETH vs USD.
XRP / USD:
DETAILS:
XRP vs USD is following strong bearish pattern i.e. downward trend line.
Previous strong support level around 0.70 (yellow line) has already been broken which indicates downward
trend is strong.
Second strong support is around $0.50 (green line) which may provide pair a little pause and then diver-
gence before upside break.
Last and foremost important support is at $0.25 which acted as base line in December 2017.
RSI is at support level which shows S-2 may provide the change in trend.
First resistance from here is at $1.
FORECAST:
As we know ripple has some big partnerships in last couple of weeks which needs to be materialize soon. Techni-
cally it has reached to strong support level which is S-2 and may provide bounce to R-1 initially. My forecast for
Q2, 2018 is $2.5 USD.
LTC / USD:
DETAILS:
In weekly chart, LTC/BTC made bearish engulfing candle stick pattern at Bollinger band upper limit re-
sistance level which shows bearish move ahead.
Pair broke pitchfork median line which also shows bearish phase of market.
Weekly candle close below median line open up the way towards mean line of Bollinger band which is
around 0.0150-160
Mean level of Bollinger band may provide coin support.
FORECAST:
Overall trend of Litecoin is upward; it is market crash which drags even LTC very down. I’m expecting recovery in
such coin soon. My forecast for Q2, 2018 is $450 USD.
BCH / USD
DETAILS:
Downward trend line & triangle in BCH vs BTC has been broken and divergence in the pair can be seen.
Bullish trend line in BCH vs BTC pair is not yet been broken and holding.
Divergence is early sign of trend change.
Head & shoulder pattern in BCH vs USD is ab’t to be completed at support line (green line)
Same pattern i.e. Divergence, bearish trend line break can be seen in BTC vs USD pair as well.
Previous resistance levels in BTC/USD are acting as support levels now.
RSI reached to trend line support as well.
FORECAST:
BCH is looking better than other coins in current market crash. Both charts i.e. BCH/BTC and BCH/USD are looking
good and showing divergence. My forecast for Q2, 2018 is $ 2000 USD.
EOS / USD:
DETAILS:
EOS is holding upward trend line support levels and forming higher lows consistently.
Downward trend line has been broken which indicates pair may move upward after retesting the support
levels.
RSI is back in 30-70 range which is a positive sign.
EOS may start its upward journey towards 0.0012 after retesting the support level.
FORECAST:
EOS is looking very positive and following bullish trend. I’m expecting strong uptrend in this pair i.e. EOS/BTC. My
forecast for EOS vs. USD is $15 USD.
XLM/USD:
DETAILS:
FORECAST:
This coin is one of my fev coins because of its partnerships with well-known companies and also its transaction
speed. My forecast for Q2, 2018 is $0.70 USD.
ADA/USD:
DETAILS:
FORECAST:
As the pair has completed its head & shoulder pattern, I’m not seeing any chance for further decline. My forecast
for Q2, 2018 is $1.2 USD.
NEO / USD:
Same pattern as we discussed in ADA/USD so no need for details. My forecast for Q2, 2018 is $200 USD.
IOTA/USD:
Same pattern as we discussed in BCH (BITCOIN CASH). My forecast for Q2, 2018 is $3 USD.