Bitcoin CME FuturesShort
Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Overview:
Bitcoin trend 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 trading above $6300. We expect continued growth in the price of Bitcoin to the $6750- $6850 zone. Also, we do not exclude the possibility of a decrease in Bitcoin's price from the current level, but this option is considered unlikely. If the price of BTC/USD drops below $6000, then we expect a decline to $5400.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6300; $5800; $5400.
Forecast:
We are waiting for the end of the correction of Bitcoin's price in the $6750- $6850 zone. After that, we predict a decline in the asset to levels: $5800, $5400.
ETH/USD
Overview:
The global trend remains descending.
If the price can overcome resistance $300, then we expect the correction to go up to levels: $325, $350. The maximum correction level is up to $380, where the resistance line of the downward expanding channel passes. If Ethereum price goes below $280, then in this case we expect a decrease to the $240- $220 zone.
Resistance levels: $300; $325; $350; $380; $400.
Support levels: $280; $250; $240.
Forecast:
Continuation of the reduction of the price of Ethereum from the zone of $325- $350 and the target in the $240- $220 zone.
XRP/USD
Overview:
Downtrend
Current situation:
We expect the price to continue falling in the direction of the trend, to a mark near the level of $0.24. At the moment, the price of XRP/USD is rising as part of the correction. We predict the end of correction of the Ripple quotation in the $0.32- $0.35 zone.
Resistance levels: $0,32; $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0,30; $0,28; $0,24; $0,22.
Forecast:
The continued decline in the price of Ripple from the $0.32- $0.35 zone and the target at $0.24.
BCH/USD
Overview: Trend is bearish.
Current situation:
We expect the breakdown of the downtrend resistance line at $560 and the exit of the Bitcoin Cash price to $585. The maximum level of upward correction is in the $585- $600 zone. The price going below $500, will signal the end of the correction upwards and lead to a further decline in the BCH/USD quotation to the $400 mark.
Resistance levels: $550; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.
Forecast:
Continued decrease in Bitcoin Cash price from $550- $585 zone and near $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The Litecoin price continues to be traded in the consolidation zone $54- $58. We expect the LTC/USD price to continue growing within the correction to the $65- $70 zone. Canceling the short-term scenario - LTC/USD price increase above the level of $72.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continuation of the decrease in the price of Litecoin, after the correction of the price in the $65- $70 zone. The goal of the decrease is $46.
Overview:
Bitcoin trend 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 trading above $6300. We expect continued growth in the price of Bitcoin to the $6750- $6850 zone. Also, we do not exclude the possibility of a decrease in Bitcoin's price from the current level, but this option is considered unlikely. If the price of BTC/USD drops below $6000, then we expect a decline to $5400.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6300; $5800; $5400.
Forecast:
We are waiting for the end of the correction of Bitcoin's price in the $6750- $6850 zone. After that, we predict a decline in the asset to levels: $5800, $5400.
ETH/USD
Overview:
The global trend remains descending.
If the price can overcome resistance $300, then we expect the correction to go up to levels: $325, $350. The maximum correction level is up to $380, where the resistance line of the downward expanding channel passes. If Ethereum price goes below $280, then in this case we expect a decrease to the $240- $220 zone.
Resistance levels: $300; $325; $350; $380; $400.
Support levels: $280; $250; $240.
Forecast:
Continuation of the reduction of the price of Ethereum from the zone of $325- $350 and the target in the $240- $220 zone.
XRP/USD
Overview:
Downtrend
Current situation:
We expect the price to continue falling in the direction of the trend, to a mark near the level of $0.24. At the moment, the price of XRP/USD is rising as part of the correction. We predict the end of correction of the Ripple quotation in the $0.32- $0.35 zone.
Resistance levels: $0,32; $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0,30; $0,28; $0,24; $0,22.
Forecast:
The continued decline in the price of Ripple from the $0.32- $0.35 zone and the target at $0.24.
BCH/USD
Overview: Trend is bearish.
Current situation:
We expect the breakdown of the downtrend resistance line at $560 and the exit of the Bitcoin Cash price to $585. The maximum level of upward correction is in the $585- $600 zone. The price going below $500, will signal the end of the correction upwards and lead to a further decline in the BCH/USD quotation to the $400 mark.
Resistance levels: $550; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.
Forecast:
Continued decrease in Bitcoin Cash price from $550- $585 zone and near $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The Litecoin price continues to be traded in the consolidation zone $54- $58. We expect the LTC/USD price to continue growing within the correction to the $65- $70 zone. Canceling the short-term scenario - LTC/USD price increase above the level of $72.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continuation of the decrease in the price of Litecoin, after the correction of the price in the $65- $70 zone. The goal of the decrease is $46.
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