Bitcoin CashShort
Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Overview:
The trend for Bitcoin remains descending. All the highs and lows of the price have a decreasing trend, which is typical for the bear market.
Current situation:
The price of Bitcoin returned to the $6350- $6600 zone. The rise in prices is now under a great doubt.
Long scenario:
- If buyers manage to pass the level of $6640, then we will wait for the price at the levels: $7200, $7500.
Short scenario:
- in the case of breakthrough of the level of $6100, the price with a high probability will reach support levels: $5800, $5400.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6200; $5800; $5400; $4500
Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $7000- $7500 zone. After the end of the correction, we forecast a decrease in the asset to levels: $5800, $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The quotation of the Ethereum did not hold above the level of $280 and went lower. The price is still above the support level and growth to the $340- $370 resistance zone is still possible.
Resistance levels: $280; $300; $325; $350; $380; $400.
Support levels: $250; $240, $220, $180.
Forecast:
Continuation of the price reduction of the Ethereum from the zone of $350- $380 and the target in the $240- $220 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
The price of Ripple could not hold above $0.33 and went lower. The last level of support for buyers remains in the $0.31- $0.30 zone, going below it will open targets for a decline to $0.24.
Resistance levels: $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.32; $0.30; $0.28; $0.24; $0.22.
Forecast:
Continuation of the decline in the price of Ripple from the zone $0.38- $0.42 and the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash failed to overcome the $600 level and went down, at the moment the price is above the $500 level, which gives buyers a chance to grow the asset to $650- $680.
Resistance levels: $540; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.
Forecast:
Reduction of the Bitcoin Cash price from the level of $680 and the first target near the $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
Litecoin price continues to trade near the level of $55. We remain at the position of price growth within the correction to the $65- $70 zone. Otherwise, the price of Litecoin will leave to update its lows near the $46 mark.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continued reduction in the price of Litecoin, after the correction is over in the $65- $70 zone. The goal of the decrease is $46.
Overview:
The trend for Bitcoin remains descending. All the highs and lows of the price have a decreasing trend, which is typical for the bear market.
Current situation:
The price of Bitcoin returned to the $6350- $6600 zone. The rise in prices is now under a great doubt.
Long scenario:
- If buyers manage to pass the level of $6640, then we will wait for the price at the levels: $7200, $7500.
Short scenario:
- in the case of breakthrough of the level of $6100, the price with a high probability will reach support levels: $5800, $5400.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6200; $5800; $5400; $4500
Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $7000- $7500 zone. After the end of the correction, we forecast a decrease in the asset to levels: $5800, $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The quotation of the Ethereum did not hold above the level of $280 and went lower. The price is still above the support level and growth to the $340- $370 resistance zone is still possible.
Resistance levels: $280; $300; $325; $350; $380; $400.
Support levels: $250; $240, $220, $180.
Forecast:
Continuation of the price reduction of the Ethereum from the zone of $350- $380 and the target in the $240- $220 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
The price of Ripple could not hold above $0.33 and went lower. The last level of support for buyers remains in the $0.31- $0.30 zone, going below it will open targets for a decline to $0.24.
Resistance levels: $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.32; $0.30; $0.28; $0.24; $0.22.
Forecast:
Continuation of the decline in the price of Ripple from the zone $0.38- $0.42 and the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash failed to overcome the $600 level and went down, at the moment the price is above the $500 level, which gives buyers a chance to grow the asset to $650- $680.
Resistance levels: $540; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.
Forecast:
Reduction of the Bitcoin Cash price from the level of $680 and the first target near the $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
Litecoin price continues to trade near the level of $55. We remain at the position of price growth within the correction to the $65- $70 zone. Otherwise, the price of Litecoin will leave to update its lows near the $46 mark.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continued reduction in the price of Litecoin, after the correction is over in the $65- $70 zone. The goal of the decrease is $46.
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