Short

Trend Analysis: BTC ETH XRP BCH LTC

Overview:
The Bitcoin level of $8500, from which we bounced, is in our view a mirror level of the previously broken support of the global channel. This assumption is confirmed, if the price of Bitcoin goes below $6660. And at the moment we tend to think that the price of BTC / USD is falling within the framework of correction, after continued growth. The cancellation of the bearish trend will be confirmed by the breakdown and fixing of Bitcoin's price above the level of $9400. Bitcoin is in downtrend.

Current situation:

Yesterday, the price could not break through the level of $7800 and went up. At the moment, there is an attempt by buyers of LTC / USD to update the highs at the levels: $8200, $8500, $8650. We forecast a price decrease from the level of $8200. The target of reducing Bitcoin's price is the mark at $7600.

Key levels are used by traders to identify immediate targets, limit losses, fix profit, entry points.

Resistance levels: $8500; $8600; $8800; $9120; $9400.
Support levels: $7600; $6800; $6660; $6276; $6354; $6100; $5940; $5780; $5450 (main).

Forecast:
Continuation of the BTC / USD price reduction from the level of $8200 and with a stop at $7600.

Overview:
The global trend remains descending. The turning point for the breakdown of the trend is the mark at $555.

Current situation:
Yesterday, Ethereum quotation - could not gain a foothold below $460 and went up. Chances to update the targets at the levels: $440 and $420 - remained the same. Ethereum shorting scenario is canceled if the price can pass the level of $485.

Resistance levels: $485; $515; $555; $585.
Support levels: $441; $420; $404; $360.

Forecast:
Decrease in the price of ETH from $460 to $420.

Overview:

Downtrend. The cancellation of the downward trend of the Ripple quotation will be a breakthrough of the level of $0.60 and consolidation above this level. An important line of support for the price of XRP / USD is the $0.42- $0.40 zone.

Current situation:
The price of Ripple continues to be traded in the flat zone: $0.43- $0.47. We forecast the price exit downwards, to the markings at the levels: $0.42, $0.40.

Resistance levels: $0.48; $0.50; $0.52; $0.54.
Support levels: $0.43; $0.42; $0.40; $0.38.

Forecast:
Ripple price drop from the level of $0.45 to $0.40.

Overview:
Trend is bearish. The key level for the downtrend canselation is resistance at $1000.

Current situation:
The cancellation of the shorting scenario for BCH / USD quotation will be the withdrawal of the price above the level of $885. In this case, the price can grow to the zone: $940- $1000. We still expect the price to fall to a minimum of $750.

Resistance levels: $820; $840; $890; $930; $970; $1020.
Support levels: $780; $750; $820; $780; $750; $720; $680.

Forecast:
The decrease in the price of Bitcoin Cash from the level of $820 with the target at $750.

Overview:
Trend is bearish. LTC/USD price fixing above the $100- $110 zone will be a sign of reversal of the downtrend. Transactions for the sale of LTC / USD are still in priority.

Current situation:
Yesterday, the Litecoin price still could not break through the level of $80, and went up, reaching the level of 85. We do not lose hope for the LTC / USD price going below this level. The targets of Litecoin asset drop are at the mark: $75, $72.

Resistance levels: $85; $90; $94; $100.
Support levels: $80; $75; $72; $66.

Forecast:
Today, we forecast a breakdown of the level of $80 for the LTC / USD asset and the withdrawal of the price to $75

VARZAR_INVESTMENT

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.