Latest technical analysis of top 9 cryptocurrencies from an expert trader. The market data is provided by the HitBTC exchange.

When a new asset class resists even after facing numerous hurdles, it forces the asset managers to pay attention and recognize it. We have seen JP Morgan, Goldman Sachs and a few others have already walked down that path.

The latest to consider investing in cryptocurrencies is BlackRock, the world’s largest asset manager with about $6.3 trillion under management. The company is forming a working group to look into Bitcoin’s potential, despite its CEO Larry Fink’s statement that “any client has sought out crypto exposure.”

As the markets bottom out, we might propose long positions on most of the virtual currencies we track, but it’s crucial to do your own due diligence. Bitcoin is leading the recovery from the front.

It has bounced sharply from its recent lows of $6,120.45. The probability of a bullish inverse head and shoulders (H&S) pattern is still alive. Read more from…

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