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:
We continue to expect a rise in the Bitcoin price to levels: $6900, $7200. If the buyers get to fix above the level of $7200, then the growth will continue at least to the level of $8000.
The cancelation of the long-term scenario is the price of BTC/USD falls below $6600. In this case, we expect a decrease in Bitcoin's price to $6350.
Also, we do not rule out a deeper decline in Bitcoin's price to the level of $5000. However, this scenario is possible if the price falls below $6100.
Resistance levels: $6800; $6900; $7200; $7400.
Support levels: $6500; $6350; $6100; $5800; $5400; $4500.
Forecast:
The growth of the price of BTC/USD from the level of $6600 and the target near the level of $6900. This growth is characterized as the correction of the price of BTC/USD before falling to the zone 5700-5500.
ETH/USD
Overview:
The global trend remains descending.
The current situation:
The price of Ethereum near the $230 mark. We expect the continued growth of the price of Ethereum to the $270- $280 zone.
The cancellation of the price increase of ETH/USD is the price going below $220.
Resistance levels: $250, $270; $300; $325; $350; $380; $400.
Support levels: $240; $220; $200; $180; $150; $100.
Forecast:
The growth of the price of ETH/USD from the level of $230 and the target in the $270- $280 zone. After the growth of the quotation of Ethereum, we expect the price to fall to the level of $150.
XRP/USD
Overview:
Downtrend
Current situation:
We expect the correction of the price down to the $0.45- $0.42 zone. We do not recommend buying.
Resistance levels: $0.70; $0.76.
Support levels: $0.45; $0.42; $0.38.
Forecast:
Reduction of the price of Ripple to the zone of $0.45- $0.42.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash price near the level of $460. We expect the price of BCH/USD to continue rising to the level of $520.
The cancelation of the scenario is the price reduction to $440.
Resistance levels: $500; $520; $555; $600; $650; $680; $800.
Support levels: $440; $400; $380.
Forecast:
The price of BCH/USD rises from $460 and the target is near $520. After the correction is over, we forecast a price decline to the $400- $380 zone.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The Litecoin price has decreased to level 58. We expect the price to go up to level 64. The cancelation of the long scenario is the price going below $54.
Resistance levels: $60; $62; $65; $68; $72; $75.
Support levels:$58; $56; $54; $50; $49; $46.
Forecast: The increase in the price of Litecoin from the level of $58 and the target is $64. After the end of the correction, we expect the decline to continue to $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:
We continue to expect a rise in the Bitcoin price to levels: $6900, $7200. If the buyers get to fix above the level of $7200, then the growth will continue at least to the level of $8000.
The cancelation of the long-term scenario is the price of BTC/USD falls below $6600. In this case, we expect a decrease in Bitcoin's price to $6350.
Also, we do not rule out a deeper decline in Bitcoin's price to the level of $5000. However, this scenario is possible if the price falls below $6100.
Resistance levels: $6800; $6900; $7200; $7400.
Support levels: $6500; $6350; $6100; $5800; $5400; $4500.
Forecast:
The growth of the price of BTC/USD from the level of $6600 and the target near the level of $6900. This growth is characterized as the correction of the price of BTC/USD before falling to the zone 5700-5500.
ETH/USD
Overview:
The global trend remains descending.
The current situation:
The price of Ethereum near the $230 mark. We expect the continued growth of the price of Ethereum to the $270- $280 zone.
The cancellation of the price increase of ETH/USD is the price going below $220.
Resistance levels: $250, $270; $300; $325; $350; $380; $400.
Support levels: $240; $220; $200; $180; $150; $100.
Forecast:
The growth of the price of ETH/USD from the level of $230 and the target in the $270- $280 zone. After the growth of the quotation of Ethereum, we expect the price to fall to the level of $150.
XRP/USD
Overview:
Downtrend
Current situation:
We expect the correction of the price down to the $0.45- $0.42 zone. We do not recommend buying.
Resistance levels: $0.70; $0.76.
Support levels: $0.45; $0.42; $0.38.
Forecast:
Reduction of the price of Ripple to the zone of $0.45- $0.42.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash price near the level of $460. We expect the price of BCH/USD to continue rising to the level of $520.
The cancelation of the scenario is the price reduction to $440.
Resistance levels: $500; $520; $555; $600; $650; $680; $800.
Support levels: $440; $400; $380.
Forecast:
The price of BCH/USD rises from $460 and the target is near $520. After the correction is over, we forecast a price decline to the $400- $380 zone.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The Litecoin price has decreased to level 58. We expect the price to go up to level 64. The cancelation of the long scenario is the price going below $54.
Resistance levels: $60; $62; $65; $68; $72; $75.
Support levels:$58; $56; $54; $50; $49; $46.
Forecast: The increase in the price of Litecoin from the level of $58 and the target is $64. After the end of the correction, we expect the decline to continue to $46.
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