BitcoinShort
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.
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:
Bitcoin quotation continue to be in the flat: $6350- $6500. We remain in the position of sellers and expect the price to drop to BTC/USD to $6100. We do not exclude the fall in the price of BTC/USD to the level of $5700.
Cancellation of the short scenario will be caused by a rise in the Bitcoin price above $6800.
Resistance levels: $6500; $6800; $6900; $7200; $7400.
Support levels: $6400; $6100; $5800; $5400; $4500.
Forecast:
Bitcoin price reduction from $6400 with a target $5700.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of ETH/USD is trading near $200. We still expect a decline in the price of ETH/USD to the level of $150.
Resistance levels: $220; $240, $280; $300; $325; $350; $380; $400.
Support levels: $200; $180; $150; $100.
Forecast:
ETH/USD price reduction starting from $200 and target in the $180- $150 zone.
XRP/USD
Overview:
The trend is downward.
Current situation:
The price of Ripple is trading above the support line of its uptrend. If the sellers manage to break through the $ 0.44- $ 0.40 zone, then we will expect quotation of XRP / USD near $ 0.30. Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone.
Cancellation of the scenario - Ripple price growth above $0.50.
Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.44; $0.38; $0.30.
Forecast:
Ripple price reduction from $0.45 and target $0.30.
BCH/USD
Overview:
The trend is bearish.
Current situation:
The price of Bitcoin Cash is trading near $450. We expect an update of the historical lows of the BCH/USD price in the $400- $350 zone.
Resistance levels: $500; $520; $560; $600; $650; $680; $800.
Support levels: $450; $400; $350.
Forecast:
BCH/USD price reduction from $450 and target $350.
LTC/USD
Overview:
Trend is bearish.
Current situation:
We predict a fall in the price of Litecoin to $46 and possibly even lower.
Resistance levels: $54; $58; $60; $62; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
Drop in the price of Litecoin from the level of $52 and the target - $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.
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:
Bitcoin quotation continue to be in the flat: $6350- $6500. We remain in the position of sellers and expect the price to drop to BTC/USD to $6100. We do not exclude the fall in the price of BTC/USD to the level of $5700.
Cancellation of the short scenario will be caused by a rise in the Bitcoin price above $6800.
Resistance levels: $6500; $6800; $6900; $7200; $7400.
Support levels: $6400; $6100; $5800; $5400; $4500.
Forecast:
Bitcoin price reduction from $6400 with a target $5700.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of ETH/USD is trading near $200. We still expect a decline in the price of ETH/USD to the level of $150.
Resistance levels: $220; $240, $280; $300; $325; $350; $380; $400.
Support levels: $200; $180; $150; $100.
Forecast:
ETH/USD price reduction starting from $200 and target in the $180- $150 zone.
XRP/USD
Overview:
The trend is downward.
Current situation:
The price of Ripple is trading above the support line of its uptrend. If the sellers manage to break through the $ 0.44- $ 0.40 zone, then we will expect quotation of XRP / USD near $ 0.30. Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone.
Cancellation of the scenario - Ripple price growth above $0.50.
Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.44; $0.38; $0.30.
Forecast:
Ripple price reduction from $0.45 and target $0.30.
BCH/USD
Overview:
The trend is bearish.
Current situation:
The price of Bitcoin Cash is trading near $450. We expect an update of the historical lows of the BCH/USD price in the $400- $350 zone.
Resistance levels: $500; $520; $560; $600; $650; $680; $800.
Support levels: $450; $400; $350.
Forecast:
BCH/USD price reduction from $450 and target $350.
LTC/USD
Overview:
Trend is bearish.
Current situation:
We predict a fall in the price of Litecoin to $46 and possibly even lower.
Resistance levels: $54; $58; $60; $62; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
Drop in the price of Litecoin from the level of $52 and the target - $46.
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