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:
We expect the continued 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.
Cancelation of the long-term scenario is the price of BTC/USD going below 6600. In this case, we expect a decrease in Bitcoin's price to $6350.
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.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of Ethereum yesterday tested the level of $250 and fell to $240. We expect the continuation of the growth of the price of ETH/USD to the $270- $280 zone.
The cancellation of the growth of the price of the Ethereum is the quotation going below the level of $220.
Resistance levels: $250, $270; $300; $325; $350; $380; $400.
Support levels: $220; $200; $180; $150; $100.
Forecast:
The increase in the price of ETH/USD from the level of $230 and the target in the $270- $280 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
The price of Ripple today broke off from the level of $0.49 and continued its growth. We expect the price to go down to $0.45- $0.42.
Resistance levels: $0.70; $0.76.
Support levels: $0.45; $0.42; $0.38.
Forecast:
Ripple price increase from the $0.45- $0.42 zone and the target near the $0.70 level.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash price yesterday tested the level of $510 and went to a level of $480. We expect the price of BCH/USD to continue rising to $520, after correction down to $460.
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 increase in the price of BCH/USD from the level of $460 and the target near the level of $520.
LTC/USD
Overview:
Trend is bearish.
Current situation:
Litecoin price reached its goal at $62 and went into correction down. We forecast LTC/USD price growth to the level of $64.
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 in the $62- $64 zone.
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:
We expect the continued 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.
Cancelation of the long-term scenario is the price of BTC/USD going below 6600. In this case, we expect a decrease in Bitcoin's price to $6350.
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.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of Ethereum yesterday tested the level of $250 and fell to $240. We expect the continuation of the growth of the price of ETH/USD to the $270- $280 zone.
The cancellation of the growth of the price of the Ethereum is the quotation going below the level of $220.
Resistance levels: $250, $270; $300; $325; $350; $380; $400.
Support levels: $220; $200; $180; $150; $100.
Forecast:
The increase in the price of ETH/USD from the level of $230 and the target in the $270- $280 zone.
XRP/USD
Overview:
Trend is downward.
Current situation:
The price of Ripple today broke off from the level of $0.49 and continued its growth. We expect the price to go down to $0.45- $0.42.
Resistance levels: $0.70; $0.76.
Support levels: $0.45; $0.42; $0.38.
Forecast:
Ripple price increase from the $0.45- $0.42 zone and the target near the $0.70 level.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash price yesterday tested the level of $510 and went to a level of $480. We expect the price of BCH/USD to continue rising to $520, after correction down to $460.
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 increase in the price of BCH/USD from the level of $460 and the target near the level of $520.
LTC/USD
Overview:
Trend is bearish.
Current situation:
Litecoin price reached its goal at $62 and went into correction down. We forecast LTC/USD price growth to the level of $64.
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 in the $62- $64 zone.
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