Bitcoin CME FuturesShort
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 is traded in a consolidation of $6200- $6500. From this consolidation zone, the quotation of BTC/USD may still be in the range of $6750- $6850, but this will not cancel our outlook on reducing the asset to the $5800- $5400 zone. Also, we do not exclude the option of continuing to reduce Bitcoin's price from the current level of $6,350. Cancellation of the scenario - growth above $7000.
Resistance levels: $6300; $6750, $6850, 7000, $7160; $7500.
Support levels: $6000; $5,800; $5450.
Forecast:
Continuation of the price reduction of BTC / USD from the $6300 - $6000 zone. The purpose of reducing the Bitcoin asset is near $5400.
ETH / USD
Overview:
The global trend remains descending.
Current situation:
Ethereum quotation is trading near the $330 mark, we still expect the asset to fall into the $300- $280 zone. The maximum level of ETH / USD price going upwards within the framework of the correction is $350. Cancellation of the decrease - the price increase exceeds $400.
Resistance levels: $330; $350; $380; $400.
Support levels: $300; $280.
Forecast:
Continuation of the reduction in the price of the Ethereum from the zone of $310- $330 and the target in the $300- $280 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
The price of XRP/USD is trading near the $0.30 mark. We continue to forecast further price cuts to the $0.28- $0.27 zone.
Resistance levels: $0.32; $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.28; $0.27.
Forecast:
Continuation of price reduction to the zone $0,28- $0,27.
BCH/USD
Overview:
Trend is bearish.
Current situation:
As for the BCH/USD asset, the situation remains still short. We expect a decrease in the Bitcoin Cash price to $500. The cancelation of the short-term scenario is a price increase above $700.
Resistance levels: $585; $600; $620; $650; $680.
Support levels: $550; $500.
Forecast:
Continuation of the Bitcoin Cash price decline from the $570- $600 zone and the target near the $500 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The quotation is traded near the level of $60, the trend remain downward. We expect the LTC/USD price to fall to $50. The cancelation of the decrease in the price of Litecoin is a rise above $72.
Resistance levels: $60; $62; $65; $67; $72; $75.
Support levels: $55; $50.
Forecast: Continued decrease in the price of Litecoin to $50.
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 is traded in a consolidation of $6200- $6500. From this consolidation zone, the quotation of BTC/USD may still be in the range of $6750- $6850, but this will not cancel our outlook on reducing the asset to the $5800- $5400 zone. Also, we do not exclude the option of continuing to reduce Bitcoin's price from the current level of $6,350. Cancellation of the scenario - growth above $7000.
Resistance levels: $6300; $6750, $6850, 7000, $7160; $7500.
Support levels: $6000; $5,800; $5450.
Forecast:
Continuation of the price reduction of BTC / USD from the $6300 - $6000 zone. The purpose of reducing the Bitcoin asset is near $5400.
ETH / USD
Overview:
The global trend remains descending.
Current situation:
Ethereum quotation is trading near the $330 mark, we still expect the asset to fall into the $300- $280 zone. The maximum level of ETH / USD price going upwards within the framework of the correction is $350. Cancellation of the decrease - the price increase exceeds $400.
Resistance levels: $330; $350; $380; $400.
Support levels: $300; $280.
Forecast:
Continuation of the reduction in the price of the Ethereum from the zone of $310- $330 and the target in the $300- $280 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
The price of XRP/USD is trading near the $0.30 mark. We continue to forecast further price cuts to the $0.28- $0.27 zone.
Resistance levels: $0.32; $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.28; $0.27.
Forecast:
Continuation of price reduction to the zone $0,28- $0,27.
BCH/USD
Overview:
Trend is bearish.
Current situation:
As for the BCH/USD asset, the situation remains still short. We expect a decrease in the Bitcoin Cash price to $500. The cancelation of the short-term scenario is a price increase above $700.
Resistance levels: $585; $600; $620; $650; $680.
Support levels: $550; $500.
Forecast:
Continuation of the Bitcoin Cash price decline from the $570- $600 zone and the target near the $500 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The quotation is traded near the level of $60, the trend remain downward. We expect the LTC/USD price to fall to $50. The cancelation of the decrease in the price of Litecoin is a rise above $72.
Resistance levels: $60; $62; $65; $67; $72; $75.
Support levels: $55; $50.
Forecast: Continued decrease in the price of Litecoin to $50.
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