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.
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:
Bitcoin price yesterday top-down tested the level of $6400 and is traded higher. We expect the growth of the quotation of BTCUSD to the level of $6800. After the correction is over, we predict a decrease in Bitcoin's price to the $5800- $5700 zone.
Resistance levels: $6600; $6800; $6900; $6800; $6600; $7200; $7500.
Support levels: $6400; $6100; $5800; $5400; $4500.
Forecast:
The rise in Bitcoin's price from current values to the $6750 area is $6800. We do not recommend buying.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
Ethereum is trading above $200, the chance of correction upwards to the level of $250 remains in force.
Lowering the price of the Ethereum below $200 will mean canceling the correction upwards. In this case, we will wait for the price of ETH/USD near the level of $150.
Resistance levels: $220; $250; $240, $270; $300; $325; $350; $380; $400.
Support levels: $200; $180; $150; $100.
Forecast:
The increase in the price of Ethereum from the level of $210 and the target in the $240 - $250 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
Buyers of XRP/USD are able to keep the quotation above $0.27. We still expect the asset to be adjusted upwards to the $0.30- $0.31 zone. After the end of the correction, we predict a decline in the price of Ripple to the zone of $0.20 - $0.15.
Resistance levels: $0.30; $0.32; $0.35; $0.38; $0.40; $0.44; $0.47; $0.52.
Support levels: $0.26; $0.24; $0.22; $0.15.
Forecast:
The increase in the price of XRP/USD from the level of $0.27 and the target in the $0.30- $0.31 zone.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash price still could not gain a foothold above $460 and is trading below - a sign of weakness of buyers. The last limit for buyers remains the level of $440, if they will not manage to hold it, then we expect the price of BCH/USD to fall to $400.
Resistance levels: $450; $460; $500; $520; $555; $600; $650; $680; $800.
Support levels: $400.
Forecast:
The increase in the price of BCH/USD from the level of $440 and the target in the $500 - $510 zone.
LTC/USD
Overview:
Trend is bearish.
Current situation:
Litecoin quotation has reached level of $58. We expect the growth of the asset to levels: $60, $62. The price of Litecoin will fall below the level of $54, then we will sell LTCUSD. The target of the asset drop is $46.
Resistance levels: $ 58; $ 60; $ 58; $ 65; $ 68; $ 72; $ 75.
Support levels: $ 54; $ 50; $ 49; $ 46.
Forecast:
The increase in the price of Litecoin from the level of $ 58 and the target near the level of $ 60.
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.
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:
Bitcoin price yesterday top-down tested the level of $6400 and is traded higher. We expect the growth of the quotation of BTCUSD to the level of $6800. After the correction is over, we predict a decrease in Bitcoin's price to the $5800- $5700 zone.
Resistance levels: $6600; $6800; $6900; $6800; $6600; $7200; $7500.
Support levels: $6400; $6100; $5800; $5400; $4500.
Forecast:
The rise in Bitcoin's price from current values to the $6750 area is $6800. We do not recommend buying.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
Ethereum is trading above $200, the chance of correction upwards to the level of $250 remains in force.
Lowering the price of the Ethereum below $200 will mean canceling the correction upwards. In this case, we will wait for the price of ETH/USD near the level of $150.
Resistance levels: $220; $250; $240, $270; $300; $325; $350; $380; $400.
Support levels: $200; $180; $150; $100.
Forecast:
The increase in the price of Ethereum from the level of $210 and the target in the $240 - $250 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
Buyers of XRP/USD are able to keep the quotation above $0.27. We still expect the asset to be adjusted upwards to the $0.30- $0.31 zone. After the end of the correction, we predict a decline in the price of Ripple to the zone of $0.20 - $0.15.
Resistance levels: $0.30; $0.32; $0.35; $0.38; $0.40; $0.44; $0.47; $0.52.
Support levels: $0.26; $0.24; $0.22; $0.15.
Forecast:
The increase in the price of XRP/USD from the level of $0.27 and the target in the $0.30- $0.31 zone.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash price still could not gain a foothold above $460 and is trading below - a sign of weakness of buyers. The last limit for buyers remains the level of $440, if they will not manage to hold it, then we expect the price of BCH/USD to fall to $400.
Resistance levels: $450; $460; $500; $520; $555; $600; $650; $680; $800.
Support levels: $400.
Forecast:
The increase in the price of BCH/USD from the level of $440 and the target in the $500 - $510 zone.
LTC/USD
Overview:
Trend is bearish.
Current situation:
Litecoin quotation has reached level of $58. We expect the growth of the asset to levels: $60, $62. The price of Litecoin will fall below the level of $54, then we will sell LTCUSD. The target of the asset drop is $46.
Resistance levels: $ 58; $ 60; $ 58; $ 65; $ 68; $ 72; $ 75.
Support levels: $ 54; $ 50; $ 49; $ 46.
Forecast:
The increase in the price of Litecoin from the level of $ 58 and the target near the level of $ 60.
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