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.
If the price of BTC/USD is lower than $5700, where the uptrend line is located (the trend was formed since March 2017), then the long-term reduction targets will be in the $4000- $3000 zone.
Current situation:
At the moment, the price of BTC/USD is trading near the level of $6400. The level of resistance shifted from $6400 to $6500.
Long scenario:
Bitcoin's price going above $6500, in that case we will expect the continuation of the price growth of BTC/USD to the $6750- $6800 zone.
Short scenario:
The decrease in Bitcoin's price is below $6100. This will serve as a signal for opening deals for sale with a target in the $5800- $5700 zone.
Levels of resistance: $6500; $6600; $6600; $6800; $6900; $6800; $6600; $7200.
Support levels: $6100; $5800; $5400; $4500.
Forecast:
Reduction of the price of BTC/USD from the level of $6400 and the target near the level of $6100. We do not recommend buying.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
Ethereum is traded near the support line of the rising channel, which currently serves as resistance. If the price can go above the $220 level, we will expect growth to the level of $240. If the quotation hits the level of $200, then the target of the decline will be the level of $150.
Resistance levels: $220; $250; $240, $270; $300; $325; $350; $380; $400.
Support levels: $200; $180; $150; $100.
Forecast:
Decrease in the price of ETH/USD from the level of $210. The goal of the reduction is $150.
XRP/USD
Overview:
The trend is downward.
Current situation:
The Ripple price today has grown by 14%. We regard this growth as a correction for the price of XRP/USD, after a strong fall. The cancellation of the scenario of the asset reduction is an increase in the price of XRP/USD above $0.42.
Resistance levels: $0.38; $0.40; 0.44; $0.47; $0.52.
Support levels: $0.35; $0.32; $0.30; $0.26; $0.24; 0.22; $0.15.
Forecast:
Reducing the Ripple price from the level of $0.38 and the target in the $0.20 - $0.15 zone.
BCH/USD
Overview:
The trend is bearish.
Current situation:
Bitcoin Cash quotation is traded below the $440 support level of the uptrend. We expect the price of BCH/USD to continue lowering to levels: $400, $385.
If BCH/USD buyers buy out the quotation above $440, then in this case we forecast the continuation of the Bitcoin Cash price increase within the limits of correction up to the $500- $510 zone.
Resistance levels: $450; $460; $500; $520; $555; $600; $650; $680; $800.
Support levels: $400; $380.
Forecast:
Decrease in the price of BCH/USD to levels: $400; $380.
LTC/USD
Overview:
The trend is bearish.
Current situation:
Litecoin price traded near the level of $54, the previously broken support of the rising channel. We expect a further decline in the price of Litecoin to $46.
Resistance levels: $54; $58; $60; $58; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
The price decrease from the level of $54 and the target near the level of $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.
If the price of BTC/USD is lower than $5700, where the uptrend line is located (the trend was formed since March 2017), then the long-term reduction targets will be in the $4000- $3000 zone.
Current situation:
At the moment, the price of BTC/USD is trading near the level of $6400. The level of resistance shifted from $6400 to $6500.
Long scenario:
Bitcoin's price going above $6500, in that case we will expect the continuation of the price growth of BTC/USD to the $6750- $6800 zone.
Short scenario:
The decrease in Bitcoin's price is below $6100. This will serve as a signal for opening deals for sale with a target in the $5800- $5700 zone.
Levels of resistance: $6500; $6600; $6600; $6800; $6900; $6800; $6600; $7200.
Support levels: $6100; $5800; $5400; $4500.
Forecast:
Reduction of the price of BTC/USD from the level of $6400 and the target near the level of $6100. We do not recommend buying.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
Ethereum is traded near the support line of the rising channel, which currently serves as resistance. If the price can go above the $220 level, we will expect growth to the level of $240. If the quotation hits the level of $200, then the target of the decline will be the level of $150.
Resistance levels: $220; $250; $240, $270; $300; $325; $350; $380; $400.
Support levels: $200; $180; $150; $100.
Forecast:
Decrease in the price of ETH/USD from the level of $210. The goal of the reduction is $150.
XRP/USD
Overview:
The trend is downward.
Current situation:
The Ripple price today has grown by 14%. We regard this growth as a correction for the price of XRP/USD, after a strong fall. The cancellation of the scenario of the asset reduction is an increase in the price of XRP/USD above $0.42.
Resistance levels: $0.38; $0.40; 0.44; $0.47; $0.52.
Support levels: $0.35; $0.32; $0.30; $0.26; $0.24; 0.22; $0.15.
Forecast:
Reducing the Ripple price from the level of $0.38 and the target in the $0.20 - $0.15 zone.
BCH/USD
Overview:
The trend is bearish.
Current situation:
Bitcoin Cash quotation is traded below the $440 support level of the uptrend. We expect the price of BCH/USD to continue lowering to levels: $400, $385.
If BCH/USD buyers buy out the quotation above $440, then in this case we forecast the continuation of the Bitcoin Cash price increase within the limits of correction up to the $500- $510 zone.
Resistance levels: $450; $460; $500; $520; $555; $600; $650; $680; $800.
Support levels: $400; $380.
Forecast:
Decrease in the price of BCH/USD to levels: $400; $380.
LTC/USD
Overview:
The trend is bearish.
Current situation:
Litecoin price traded near the level of $54, the previously broken support of the rising channel. We expect a further decline in the price of Litecoin to $46.
Resistance levels: $54; $58; $60; $58; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
The price decrease from the level of $54 and the target near the level of $46.
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