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's price is in the narrowing consolidation zone of $6350- $6630. At the moment, the price of BTC/USD is corrected, after the decline to $5880. The expected correction end zone is $6750- $6850. Also, we do not exclude the exit of Bitcoin's price to the level of $7160. After the end of the correction phase, we predict a continuation of the decrease in Bitcoin's price to levels: $5800, $5400.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6300; $5800; $5400; $4500
Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $6750- $6850 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.
The current situation:
Buyers of Ethereum at the moment manage to keep the price above the support level of $280, which confirms the option with continued growth within the correction. The expected correction end zone is $350- $380. After the completion of the correction phase, we predict that the price of ETH/USD will continue to fall to the $240- $220 zone, I do not exclude the price drop to the markings of $200 and $180.
Resistance levels: $325; $350; $380; $400.
Support levels: $300; $280; $250; $240, $220, $180.
Forecast:
Continuation of the reduction of the price of Ethereum from the zone of $350- $380 and the target in the $240- $220 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
We expect the continued growth in the price of Ripple to the $0.38- $0.40 zone. Also, we do not exclude the XRP/USD price increase to the level of $0.42, where the support line for the figure of the triangle previously passed. After the correction is over, we expect that the price of XRP/USD will continue to decrease in the direction of the trend, to the $0.24- $0.20 zone.
Resistance levels: $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0,30; $0,28; $0,24; $0,22.
Forecast:
The continued decline in the price of Ripple from the $0.38- $0.40 zone and the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash price keeps above the support line of the mirror level $540. We expect the correction of the price of BCH/USD to go up to the level of $680, after which the quotation will continue to decline to a mark near the level of $400.
Resistance levels: $585; $600; $620; $650; $680.
Support levels: $540; $500; $470; $450; $400.
Forecast:
Continuation of the Bitcoin Cash price decline from the level of $680 and the first target near the $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The price of Litecoin is trading near the support level of $55. We expect a correction of the LTC/USD quotation up to the $65- $70 zone. After that, the continued decline in LTC/USD quotation in the direction of the trend to $46.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continuation of the decrease in the price of Litecoin, after the correction of the price in the $65- $70 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's price is in the narrowing consolidation zone of $6350- $6630. At the moment, the price of BTC/USD is corrected, after the decline to $5880. The expected correction end zone is $6750- $6850. Also, we do not exclude the exit of Bitcoin's price to the level of $7160. After the end of the correction phase, we predict a continuation of the decrease in Bitcoin's price to levels: $5800, $5400.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6300; $5800; $5400; $4500
Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $6750- $6850 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.
The current situation:
Buyers of Ethereum at the moment manage to keep the price above the support level of $280, which confirms the option with continued growth within the correction. The expected correction end zone is $350- $380. After the completion of the correction phase, we predict that the price of ETH/USD will continue to fall to the $240- $220 zone, I do not exclude the price drop to the markings of $200 and $180.
Resistance levels: $325; $350; $380; $400.
Support levels: $300; $280; $250; $240, $220, $180.
Forecast:
Continuation of the reduction of the price of Ethereum from the zone of $350- $380 and the target in the $240- $220 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
We expect the continued growth in the price of Ripple to the $0.38- $0.40 zone. Also, we do not exclude the XRP/USD price increase to the level of $0.42, where the support line for the figure of the triangle previously passed. After the correction is over, we expect that the price of XRP/USD will continue to decrease in the direction of the trend, to the $0.24- $0.20 zone.
Resistance levels: $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0,30; $0,28; $0,24; $0,22.
Forecast:
The continued decline in the price of Ripple from the $0.38- $0.40 zone and the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash price keeps above the support line of the mirror level $540. We expect the correction of the price of BCH/USD to go up to the level of $680, after which the quotation will continue to decline to a mark near the level of $400.
Resistance levels: $585; $600; $620; $650; $680.
Support levels: $540; $500; $470; $450; $400.
Forecast:
Continuation of the Bitcoin Cash price decline from the level of $680 and the first target near the $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The price of Litecoin is trading near the support level of $55. We expect a correction of the LTC/USD quotation up to the $65- $70 zone. After that, the continued decline in LTC/USD quotation in the direction of the trend to $46.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continuation of the decrease in the price of Litecoin, after the correction of the price in the $65- $70 zone. The goal of the decrease is $46.
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