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 reached our first goal at $6100. We expect a further decline in the price of BTC/USD to the level of $5700, but for this it is necessary for the quotation to break through the level of $6100.
Resistance levels: $6400; $6800; $6900; $7200; $7400.
Support levels: $6100; $5800; $5400; $4500.
Forecast:
Bitcoin price reduction from $6200 and 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 price reduction to $180- $150.
Resistance levels: $200; $220; $240, $280; $300; $325; $350; $380; $400.
Support levels: $180; $150; $100.
Forecast:
ETH/USD price reduction starting from $200 and target in the $180- $150 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
Ripple quotation rose to $0.44. We expect further decline in the asset to $0.30.
But also, we do not exclude the possible continuation of the correction up to the zone of $0.45- $0.46.
Resistance levels: $0.44; $0.50; $0.58; $0.70; $0.76.
Support levels: $0.38; $0.30.
Forecast:
Ripple price reduction from $0.44 and target $0.30.
BCH/USD
Overview:
The trend is bearish.
Current situation:
The price of Bitcoin Cash has broken through and consolidated below $450. We expect the price to be updated in the $400- $350 zone.
The maximum level of correction up the price of BCH/USD is $470- $480.
Resistance levels: $450; $500; $520; $560; $600; $650; $680; $800.
Support levels: $400; $350.
Forecast:
BCH/USD price reduction from $450 and target $350.
LTC/USD
Overview:
The trend is bearish.
Current situation:
We are expecting an update of the Litecoin price lows near the $46 mark.
The maximum correction level is $56.
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 reached our first goal at $6100. We expect a further decline in the price of BTC/USD to the level of $5700, but for this it is necessary for the quotation to break through the level of $6100.
Resistance levels: $6400; $6800; $6900; $7200; $7400.
Support levels: $6100; $5800; $5400; $4500.
Forecast:
Bitcoin price reduction from $6200 and 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 price reduction to $180- $150.
Resistance levels: $200; $220; $240, $280; $300; $325; $350; $380; $400.
Support levels: $180; $150; $100.
Forecast:
ETH/USD price reduction starting from $200 and target in the $180- $150 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
Ripple quotation rose to $0.44. We expect further decline in the asset to $0.30.
But also, we do not exclude the possible continuation of the correction up to the zone of $0.45- $0.46.
Resistance levels: $0.44; $0.50; $0.58; $0.70; $0.76.
Support levels: $0.38; $0.30.
Forecast:
Ripple price reduction from $0.44 and target $0.30.
BCH/USD
Overview:
The trend is bearish.
Current situation:
The price of Bitcoin Cash has broken through and consolidated below $450. We expect the price to be updated in the $400- $350 zone.
The maximum level of correction up the price of BCH/USD is $470- $480.
Resistance levels: $450; $500; $520; $560; $600; $650; $680; $800.
Support levels: $400; $350.
Forecast:
BCH/USD price reduction from $450 and target $350.
LTC/USD
Overview:
The trend is bearish.
Current situation:
We are expecting an update of the Litecoin price lows near the $46 mark.
The maximum correction level is $56.
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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