BitcoinShort
Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Overview:
The trend for Bitcoin remains descending. All the highs and lows of the price have a decreasing trend, which is typical for the bear market.
Current situation:
The price of Bitcoin is trading above $6640, near the $6700 mark. We forecast further growth of the quotation to levels: $7200, $7500. In the event of a price reduction, the support level will be $6400- $6350. Cancellation of price growth is quotation going below the level of 6350.
Resistance levels: $6750, $6900, $7000, $7160; $7500.
Support levels: $6350; $6100; $5800; $5400; $4500
Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $7000- $7500 zone. After the end of the correction, we forecast a decrease in the asset to levels: $5800, $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
Ethereum quotation could still come out of the descending channel. We expect the price to continue to increase to the $350- $380 zone. Cancellation of the scenario is the price going below $260.
Resistance levels: $280; $300; $325; $350; $380; $400.
Support levels: $250; $240, $220, $180.
Forecast:
We expect the end of the price correction of the Ethereum in the $350- $380 zone, after which the price will continue to decrease to levels: $220, $200 and $180.
XRP/USD
Overview:
Trend is downward.
Current situation:
The price of Ripple continues to be traded in the accumulation zone of $0.31- $0.34. The price distribution of XRP/USD from this zone is expected as an upward impulse to the $0.38- $0.42 zone. After that, we forecast a decrease in the price of XRP/USD to the level of $0.24.
Resistance levels: $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.32; $0.30; $0.28; $0.24; $0.22.
Forecast:
After adjusting the price of Ripple up to $0.38- $0.42, we expect the quotation to continue to decrease in direction of the trend with the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
If BCH/USD buyers won't be able to hold the $500 level, then the price reduction can be continued to the targets: $450, $400. We expect the buyout of Bitcoin Cash's price above $530 with further growth to the $650- $680 zone.
Resistance levels: $540; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.
Forecast:
The decrease in the price of Bitcoin Cash from the level of $680 and the targets of $450, $400.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The price of Litecoin continues to trade in narrowing consolidation. We expect the exit from this consolidation up to the $65- $70 zone. Cancellation of the scenario is the price going below $ 55. After the correction is over, we forecast LTC/USD price decrease in the direction of the trend to the level of $46.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continued drop of the Litecoin price, after the correction is over in the $65- $70 zone. The goal of the decrease is $46.
Overview:
The trend for Bitcoin remains descending. All the highs and lows of the price have a decreasing trend, which is typical for the bear market.
Current situation:
The price of Bitcoin is trading above $6640, near the $6700 mark. We forecast further growth of the quotation to levels: $7200, $7500. In the event of a price reduction, the support level will be $6400- $6350. Cancellation of price growth is quotation going below the level of 6350.
Resistance levels: $6750, $6900, $7000, $7160; $7500.
Support levels: $6350; $6100; $5800; $5400; $4500
Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $7000- $7500 zone. After the end of the correction, we forecast a decrease in the asset to levels: $5800, $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
Ethereum quotation could still come out of the descending channel. We expect the price to continue to increase to the $350- $380 zone. Cancellation of the scenario is the price going below $260.
Resistance levels: $280; $300; $325; $350; $380; $400.
Support levels: $250; $240, $220, $180.
Forecast:
We expect the end of the price correction of the Ethereum in the $350- $380 zone, after which the price will continue to decrease to levels: $220, $200 and $180.
XRP/USD
Overview:
Trend is downward.
Current situation:
The price of Ripple continues to be traded in the accumulation zone of $0.31- $0.34. The price distribution of XRP/USD from this zone is expected as an upward impulse to the $0.38- $0.42 zone. After that, we forecast a decrease in the price of XRP/USD to the level of $0.24.
Resistance levels: $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.32; $0.30; $0.28; $0.24; $0.22.
Forecast:
After adjusting the price of Ripple up to $0.38- $0.42, we expect the quotation to continue to decrease in direction of the trend with the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
If BCH/USD buyers won't be able to hold the $500 level, then the price reduction can be continued to the targets: $450, $400. We expect the buyout of Bitcoin Cash's price above $530 with further growth to the $650- $680 zone.
Resistance levels: $540; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.
Forecast:
The decrease in the price of Bitcoin Cash from the level of $680 and the targets of $450, $400.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The price of Litecoin continues to trade in narrowing consolidation. We expect the exit from this consolidation up to the $65- $70 zone. Cancellation of the scenario is the price going below $ 55. After the correction is over, we forecast LTC/USD price decrease in the direction of the trend to the level of $46.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continued drop of the Litecoin price, after the correction is over in the $65- $70 zone. The goal of the decrease is $46.
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