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.
Current situation:
Bitcoin quotation came out of consolidation down and in the morning the price descended to around $5880.
The first scenario:
Continuation of the price reduction, after the correction is completed from the $6200- $6300 zone. The main goal of the decrease is from $5400 to the level of support. Perhaps at this level, customers will be able to stop the price drop.
The second scenario:
The price rises to $6850 with a further decline to $4500.
The cancelation of the price reduction is a price increase above $7000.
Resistance levels: $6300; $6750, $6850, 7000, $7160; $7500.
Support levels: $6000; $5800; $5450.
Forecast:
Continuation of BTC/USD price reduction after correction up to the $6200- $6300 zone. The goal of Bitcoin's price drop near the level of $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of Ethereum in the moment reached the level of $250. The quotation is at a strong support level, where a large buyer may appear. At the moment, we predict a stop in price reduction and correction to the $280- $300 zone.
Resistance levels: $280; $300; $330; $350; $380; $400.
Support levels: $250; $240.
Forecast:
Continuation of the reduction of the price of the Ethereum from the zone of $280- $300 and the target in the $250- $240 zone.
XRP/USD
Overview:
Downtrend
Current situation:
Ripple quotation decreased to $0.24. Now we expect the correction of the price of XRP to the zone of 0.29-0.30 and after that the continuation of the price drop to the zone of $0.22- $0.24.
Resistance levels: 0,30; $0,32; $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0.24; $0.22.
Forecast:
Continuation of the decline in the price of Ripple, after correction to the $0.29- $0.30 zone. The goal of the decline is in the $0.24- $0.22 zone.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash quotation has updated its lows near the $470 mark. We expect the asset to adjust to the level of $550, after which the price continues to decline to the $450- $400 zone.
Resistance levels: $500; $550; $585; $600; $620; $650; $680.
Support levels: $470; $450; $400.
Forecast:
Continued decrease in Bitcoin Cash price from $530- $550 zone and near $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The price of Litecoin reached the goal at $50. We forecast a correction of the price up to the $55- $58 zone, after which the price will continue to fall to the level of $46.
Resistance levels: $55; $58; $60; $62; $65; $67; $72; $75.
Support levels: $50; $46.
Forecast:
Continuation of price reduction after price correction to the $55- $58 zone. The goal of the decrease is $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.
Current situation:
Bitcoin quotation came out of consolidation down and in the morning the price descended to around $5880.
The first scenario:
Continuation of the price reduction, after the correction is completed from the $6200- $6300 zone. The main goal of the decrease is from $5400 to the level of support. Perhaps at this level, customers will be able to stop the price drop.
The second scenario:
The price rises to $6850 with a further decline to $4500.
The cancelation of the price reduction is a price increase above $7000.
Resistance levels: $6300; $6750, $6850, 7000, $7160; $7500.
Support levels: $6000; $5800; $5450.
Forecast:
Continuation of BTC/USD price reduction after correction up to the $6200- $6300 zone. The goal of Bitcoin's price drop near the level of $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of Ethereum in the moment reached the level of $250. The quotation is at a strong support level, where a large buyer may appear. At the moment, we predict a stop in price reduction and correction to the $280- $300 zone.
Resistance levels: $280; $300; $330; $350; $380; $400.
Support levels: $250; $240.
Forecast:
Continuation of the reduction of the price of the Ethereum from the zone of $280- $300 and the target in the $250- $240 zone.
XRP/USD
Overview:
Downtrend
Current situation:
Ripple quotation decreased to $0.24. Now we expect the correction of the price of XRP to the zone of 0.29-0.30 and after that the continuation of the price drop to the zone of $0.22- $0.24.
Resistance levels: 0,30; $0,32; $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0.24; $0.22.
Forecast:
Continuation of the decline in the price of Ripple, after correction to the $0.29- $0.30 zone. The goal of the decline is in the $0.24- $0.22 zone.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash quotation has updated its lows near the $470 mark. We expect the asset to adjust to the level of $550, after which the price continues to decline to the $450- $400 zone.
Resistance levels: $500; $550; $585; $600; $620; $650; $680.
Support levels: $470; $450; $400.
Forecast:
Continued decrease in Bitcoin Cash price from $530- $550 zone and near $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The price of Litecoin reached the goal at $50. We forecast a correction of the price up to the $55- $58 zone, after which the price will continue to fall to the level of $46.
Resistance levels: $55; $58; $60; $62; $65; $67; $72; $75.
Support levels: $50; $46.
Forecast:
Continuation of price reduction after price correction to the $55- $58 zone. The goal of the decrease is $46.
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