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:
Bitcoin quotation is above $6400. We expect this asset to decline to $6100. If the resistance of $6100 will be broken through, then in this case we expect a decline in the BTC/USD quotation to the zone of $5800- $5700.
Resistance levels: $6400; $6800; $6900; $7200; $7400.
Support levels: $6100; $5800; $5400; $4500.
Forecast:
Bitcoin price reduction from $6400 with a target $5700.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The market situation is unchanged. The price of Ethereum continues to trade above $200. We still expect a decline in the price of ETH/USD to the level of $150.
Resistance levels: $220; $240, $280; $300; $325; $350; $380; $400.
Support levels: $200; $180; $150; $100.
Forecast:
ETH/USD price reduction starting from $200 and target in the $180- $150 zone.
XRP/USD
Overview:
The trend is downward.
Current situation:
The price of Ripple today reached a level above $0.46. We do not consider this growth as a change in the downtrend. We expect a decline in the price of XRP/USD to $0.30. Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone.
Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.44; $0.38; $0.30.
Forecast:
Ripple price reduction from $0.46 and target $0.30.
BCH/USD
Overview:
Trend is bearish.
Current situation:
The situation remains unchanged. Bitcoin Cash price continues to be below $450. We expect an update of the historical lows of the BCH/USD price in the $400- $350 zone.
Resistance levels: $450; $500; $520; $560; $600; $650; $680; $800.
Support levels: $400; $350.
Forecast:
BCH/USD price reduction from $450 and target $350.
LTC/USD
Overview:
Trend is bearish.
Current situation: We predict a fall in the price of Litecoin to $46 and possibly even lower.
Resistance levels: $54; $58; $60; $62; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
Drop in the price of Litecoin from the level of $54 and the target - $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:
Bitcoin quotation is above $6400. We expect this asset to decline to $6100. If the resistance of $6100 will be broken through, then in this case we expect a decline in the BTC/USD quotation to the zone of $5800- $5700.
Resistance levels: $6400; $6800; $6900; $7200; $7400.
Support levels: $6100; $5800; $5400; $4500.
Forecast:
Bitcoin price reduction from $6400 with a target $5700.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The market situation is unchanged. The price of Ethereum continues to trade above $200. We still expect a decline in the price of ETH/USD to the level of $150.
Resistance levels: $220; $240, $280; $300; $325; $350; $380; $400.
Support levels: $200; $180; $150; $100.
Forecast:
ETH/USD price reduction starting from $200 and target in the $180- $150 zone.
XRP/USD
Overview:
The trend is downward.
Current situation:
The price of Ripple today reached a level above $0.46. We do not consider this growth as a change in the downtrend. We expect a decline in the price of XRP/USD to $0.30. Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone.
Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.44; $0.38; $0.30.
Forecast:
Ripple price reduction from $0.46 and target $0.30.
BCH/USD
Overview:
Trend is bearish.
Current situation:
The situation remains unchanged. Bitcoin Cash price continues to be below $450. We expect an update of the historical lows of the BCH/USD price in the $400- $350 zone.
Resistance levels: $450; $500; $520; $560; $600; $650; $680; $800.
Support levels: $400; $350.
Forecast:
BCH/USD price reduction from $450 and target $350.
LTC/USD
Overview:
Trend is bearish.
Current situation: We predict a fall in the price of Litecoin to $46 and possibly even lower.
Resistance levels: $54; $58; $60; $62; $65; $68; $72; $75.
Support levels: $50; $49; $46.
Forecast:
Drop in the price of Litecoin from the level of $54 and the target - $46.
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