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: Today, Bitcoin's quotation reached $6760 at the moment, after which it dropped to $6400 and is currently trading near this level. We characterize this growth as a short squeeze in a thin market. We expect a further decline in BTC/USD to the zone of $5800- $5500.
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 near the $200 mark. Today's growth of quotation to $220 is not a change in trend, and we still expect the price of Ethereum to fall to $180- $150.
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 XRP/USD today tested the level of $0.46 and went below. We expect a further price reduction for Ripple to $0.34- $0.30. The signal for this will be top-down breaking through the level of $0.38.
Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone.
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. Today's price increase to $57 is not a change in the downward trend. We remain on the side of the sellers of this asset.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.