BitcoinShort
Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Overview:
Bitcoin is in a downtrend. 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 in March 2017), then the long-term reduction targets will be in the $4000- $3000 zone.
Current situation:
Bitcoin quotation trades above the level of $6400, if the price will be able to fix above this level, then we predict further growth to the $6750- $6800 zone. This growth is characterized as a correction upward, before the further decline in the price of BTC/USD to the $5800- $5700 zone. The price going below $6100 will be a cancellation of the correction upwards and in that case, we will expect the update of the Bitcoin price lows.
Resistance levels: $6600; $6800; $6900; $6800; $6600; $7200; $7500.
Support levels: $6400; $6100; $5800; $5400; $4500.
Forecast:
The rise in Bitcoin's price from current values to the $6750 - $6800 area. We do not recommend buying.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of the Ethereum is trading near the level of $200. If the price of Ethereum can be fixed above $200, then we expect further growth of the price of this asset to the level of $220. The maximum level of correction is up close to $240.
Resistance levels: $200; $220; $250; $240, $270; $300; $325; $350; $380; $400.
Support levels: $180; $150; $100.
Forecast:
The increase in the price of Ethereum from the level of $200 and the target in the $220 - $240 zone.
XRP/USD
Overview:
Downtrend.
Current situation:
The Ripple quotation attempts to consolidate above the resistance line of the consolidation zone. If the buyers get to gain a foothold above the level of $0.27, then the growth will continue to the $0.30- $0.31 zone.
Resistance levels: $0.30; $0.32; $0.35; $0.38; $0.40; $0.44; $0.47; $0.52.
Support levels: $0.26; $0.24; $0.22; $0.15.
Forecast:
The increase in the price of XRP/USD from the level of $0.27 and the target in the $0.30- $0.31 zone.
BCH/USD
Overview:
The trend is bearish.
Current situation:
Bitcoin Cash was no exception and began its correction upward. The BCH/USD quotation rose to $440. We expect the continued growth of Bitcoin Cash's price within the correction to $460.
Resistance levels: $450; $460; $500; $520; $555; $600; $650; $680; $800.
Support levels: $400.
Forecast:
The growth of the price of BCH/USD to $460.
LTC/USD
Overview:
The trend is bearish.
Current situation:
Litecoin price rose to the resistance line near the level of $54. If the price goes up from this channel, then we predict a price increase to the level of $58.
Resistance levels: $55; $58; $60; $58; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
The increase in the Litecoin price from the level of $54 and the target near the level of $58.
Overview:
Bitcoin is in a downtrend. 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 in March 2017), then the long-term reduction targets will be in the $4000- $3000 zone.
Current situation:
Bitcoin quotation trades above the level of $6400, if the price will be able to fix above this level, then we predict further growth to the $6750- $6800 zone. This growth is characterized as a correction upward, before the further decline in the price of BTC/USD to the $5800- $5700 zone. The price going below $6100 will be a cancellation of the correction upwards and in that case, we will expect the update of the Bitcoin price lows.
Resistance levels: $6600; $6800; $6900; $6800; $6600; $7200; $7500.
Support levels: $6400; $6100; $5800; $5400; $4500.
Forecast:
The rise in Bitcoin's price from current values to the $6750 - $6800 area. We do not recommend buying.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of the Ethereum is trading near the level of $200. If the price of Ethereum can be fixed above $200, then we expect further growth of the price of this asset to the level of $220. The maximum level of correction is up close to $240.
Resistance levels: $200; $220; $250; $240, $270; $300; $325; $350; $380; $400.
Support levels: $180; $150; $100.
Forecast:
The increase in the price of Ethereum from the level of $200 and the target in the $220 - $240 zone.
XRP/USD
Overview:
Downtrend.
Current situation:
The Ripple quotation attempts to consolidate above the resistance line of the consolidation zone. If the buyers get to gain a foothold above the level of $0.27, then the growth will continue to the $0.30- $0.31 zone.
Resistance levels: $0.30; $0.32; $0.35; $0.38; $0.40; $0.44; $0.47; $0.52.
Support levels: $0.26; $0.24; $0.22; $0.15.
Forecast:
The increase in the price of XRP/USD from the level of $0.27 and the target in the $0.30- $0.31 zone.
BCH/USD
Overview:
The trend is bearish.
Current situation:
Bitcoin Cash was no exception and began its correction upward. The BCH/USD quotation rose to $440. We expect the continued growth of Bitcoin Cash's price within the correction to $460.
Resistance levels: $450; $460; $500; $520; $555; $600; $650; $680; $800.
Support levels: $400.
Forecast:
The growth of the price of BCH/USD to $460.
LTC/USD
Overview:
The trend is bearish.
Current situation:
Litecoin price rose to the resistance line near the level of $54. If the price goes up from this channel, then we predict a price increase to the level of $58.
Resistance levels: $55; $58; $60; $58; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
The increase in the Litecoin price from the level of $54 and the target near the level of $58.
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