Bitcoin, Ethereum & Litecoin – American Wrap: 2/12/2020

The daily BTC/USD below show us that BTC has stopped on Wednesday at the top of the rising wedge formation.

The overlying Fibonacci retracement indicator shows that the important 61.8% retracement is closer to 11K.

The volume is also an interesting factor. We would want to see the volume rising as the price moves higher so the market needs more confirmation.

Ethereum is steaming ahead today as crypto sentiment skyrockets again.

The ETH/USD pair is trading over 10% higher and could now hit some important resistance zones.

272.00 has provided some support in the past and therefore could act like a resistance area this time out.

Beyond that closer to 360.00 is the next target and if this momentum keeps up it might just get there.

Litecoin price is trading in positive territory by 3.20% in the session on Wednesday.

LTC/USD is breaking out of a temporary four range, a period of consolidation that was seen.

A barrier can be observed at $80, the high of 18 September, before sellers kicked in.