BitcoinShort
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:
Bitcoin quotation is traded in the consolidation zone in the $6100- $6530 zone. We remain on the same position, we expect growth within the framework of correction to the zone: $6750- $6800. Cancellation of the correction upwards is the price decrease below 6100.
Resistance levels: $6400; $6600; $6800; $6900; $6800; $6600; $7200; $7500.
Support levels: $6100; $5800; $5400; $4500.
Forecast:
After finishing the correction to the $6750- $6800 zone, we expect a decrease in the Bitcoin price to levels: $5500, $5000. We do not recommend buying.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The Ethereum price continues to trade below $200. We still expect the growth of the Ethereum quotation, within the correction to levels: $220, $250. After the correction is over, we forecast a continued decline in the asset to levels of $180, $150. Cancellation of the growth scenario will be the price of ETH/USD going below $180.
Resistance levels: $200; $220; $250; $240, $270; $300; $325; $350; $380; $400.
Support levels: $180; $150.
Forecast:
Reduction of the price of ETH/USD from the $220- $250 zone and to the $180 - $150 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
The Ripple price is below $0.30. After finishing the correction up to the 0.30-0.31 zone, we expect the decline of this asset to continue to the level of $0.20.
Resistance levels: $0.30; $0.32; $0.35; $0.38; $0.40; $0.44; $0.47; $0.52.
Support levels: $0.28; $0.24; $0.22; $0.15.
Forecast:
Reduction of the Ripple quotation from the level of $0.31 and the target in the range from $0.24 to $0.20.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash is traded near its annual lows. We expect the price growth of BCH/USD to levels: $500, $540. This growth is characterized as a correction of the price before further decline to the level of $400.
Resistance levels: $500; $520; $555; $600; $650; $680; $800.
Support levels: 460; $450; $400.
Forecast:
Reduction of the Bitcoin Cash price from the $500- $540 zone and with targets near the levels: $450, $400.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The Litecoin price is trading in a declining channel with support at $49 and resistance - $55. We expect LTC/USD correction to the $55- $58 zone and the continued decline of the quotation to $46. Also, we do not exclude the scenario without correction upwards, and the decrease in the price of Litecoin from current levels to the $49- $46 zone.
Resistance levels: $55; $58; $60; $58; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
Decrease in LTC/USD prices from the level of $55 and targets near the marks: $50, $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:
Bitcoin quotation is traded in the consolidation zone in the $6100- $6530 zone. We remain on the same position, we expect growth within the framework of correction to the zone: $6750- $6800. Cancellation of the correction upwards is the price decrease below 6100.
Resistance levels: $6400; $6600; $6800; $6900; $6800; $6600; $7200; $7500.
Support levels: $6100; $5800; $5400; $4500.
Forecast:
After finishing the correction to the $6750- $6800 zone, we expect a decrease in the Bitcoin price to levels: $5500, $5000. We do not recommend buying.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The Ethereum price continues to trade below $200. We still expect the growth of the Ethereum quotation, within the correction to levels: $220, $250. After the correction is over, we forecast a continued decline in the asset to levels of $180, $150. Cancellation of the growth scenario will be the price of ETH/USD going below $180.
Resistance levels: $200; $220; $250; $240, $270; $300; $325; $350; $380; $400.
Support levels: $180; $150.
Forecast:
Reduction of the price of ETH/USD from the $220- $250 zone and to the $180 - $150 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
The Ripple price is below $0.30. After finishing the correction up to the 0.30-0.31 zone, we expect the decline of this asset to continue to the level of $0.20.
Resistance levels: $0.30; $0.32; $0.35; $0.38; $0.40; $0.44; $0.47; $0.52.
Support levels: $0.28; $0.24; $0.22; $0.15.
Forecast:
Reduction of the Ripple quotation from the level of $0.31 and the target in the range from $0.24 to $0.20.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash is traded near its annual lows. We expect the price growth of BCH/USD to levels: $500, $540. This growth is characterized as a correction of the price before further decline to the level of $400.
Resistance levels: $500; $520; $555; $600; $650; $680; $800.
Support levels: 460; $450; $400.
Forecast:
Reduction of the Bitcoin Cash price from the $500- $540 zone and with targets near the levels: $450, $400.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The Litecoin price is trading in a declining channel with support at $49 and resistance - $55. We expect LTC/USD correction to the $55- $58 zone and the continued decline of the quotation to $46. Also, we do not exclude the scenario without correction upwards, and the decrease in the price of Litecoin from current levels to the $49- $46 zone.
Resistance levels: $55; $58; $60; $58; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
Decrease in LTC/USD prices from the level of $55 and targets near the marks: $50, $46.
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