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:
Today Bitcoin's price came down from the growth channel, and then returned back. We do not exclude the option with a decrease to the zone $6400-$6350. After the test of this zone, we expect the growth to continue to levels: $7200, 7500. Cancellation of the long-term scenario is the price will going below the level of $6350. After finishing the correction in the zone $7200-$7500, we predict a further decline in the BTC/USD price to levels: $5800, $5400.
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:
The price of Ethereum could not overcome the resistance line at $280. The ETH/USD quotation fell to $270, where strong resistance is passing. We expect continued growth from this level and targets in the $350- $380 zone. Cancellation of the scenario of the Ethereum price is it going below $250. In this case, we will wait for the update of the price minimums in the $220- $200 zone.
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 remains in the consolidation zone of $0.31- $0.34. The exit from this zone is still expected in the form of 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 the direction of the trend with the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash broke through the level of support for his growth channel. If buyers do not keep the $500 level, then the price reduction can be continued to the targets: $450, $400. Expect the buyback of the 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 drop 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 Litecoin quotation 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 drop 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 reduction in the price of Litecoin, after the correction is over in the $65- $70 zone. The target 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:
Today Bitcoin's price came down from the growth channel, and then returned back. We do not exclude the option with a decrease to the zone $6400-$6350. After the test of this zone, we expect the growth to continue to levels: $7200, 7500. Cancellation of the long-term scenario is the price will going below the level of $6350. After finishing the correction in the zone $7200-$7500, we predict a further decline in the BTC/USD price to levels: $5800, $5400.
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:
The price of Ethereum could not overcome the resistance line at $280. The ETH/USD quotation fell to $270, where strong resistance is passing. We expect continued growth from this level and targets in the $350- $380 zone. Cancellation of the scenario of the Ethereum price is it going below $250. In this case, we will wait for the update of the price minimums in the $220- $200 zone.
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 remains in the consolidation zone of $0.31- $0.34. The exit from this zone is still expected in the form of 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 the direction of the trend with the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
Bitcoin Cash broke through the level of support for his growth channel. If buyers do not keep the $500 level, then the price reduction can be continued to the targets: $450, $400. Expect the buyback of the 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 drop 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 Litecoin quotation 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 drop 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 reduction in the price of Litecoin, after the correction is over in the $65- $70 zone. The target of the decrease is $46.
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