BitcoinShort
Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Current situation: The BTC/USD quotation after the test of the $3500 level from the top downwards went into a correction upwards to the level of $4050 and is currently trading higher. We expect the continuation of the BTC/USD correction up to levels: $5200, $5700, and possibly to the level of $6100.
Tapering consolidation was locally formed with a support level of $4050 and resistance of $4350. The output from which will determine the direction of the movement of the Bitcoin price.
On the daily chart, you can see the expansion of the downward channel with the support line near the $2000 mark. If Bitcoin prices go below $3000, then we are most likely to see a quote near the $2000 support line.
Cancellation of the scenario may be caused by Bitcoin price increase above $6100.
Resistance levels: $4350; $4500; $5000; $5700; $6100; $6400.
Support levels: $4050; $3500; $3000.
Forecast:
After the end of the upward correction, the continuation of the BTC/USD price reduction to the zone of $3000- $2000.
ETH/USD
Current situation: The quotation of the Ethereum tested the $100 level twice and went up. At the moment, we characterize this growth as a correction in the price of ETH/USD, after a prolonged fall. The projected levels of correction up: $130, $165, $185.
If the price of Ethereum cannot overcome the level of $120 and goes below the level of $110, then we will expect a quote in the range of $90- $85.
Resistance levels: $120; $130; $150; $185; $195; $220; $240.
Support levels: $114; $110; $100; $90; $85.
Forecast:
After the end of the correction, the continuation of the ETH/USD price drop to the $90- $85 zone.
XRP/USD
Current situation: After the end of the correction, we expect the decline of Ripple’s quotation to levels: $0.30, $0.25. Also, we do not exclude a deeper immersion of XRP/USD quotes to $0.20- $0.15.
The projected levels of correction upwards of Ripple are as follows $0.40, $0.44, $0.47.
Resistance levels: $0,38; $0,44; $0,50; $0,58; $0,70; $0,76.
Support levels: $0.30; $0.20; $0.15.
Forecast:
Reduction of the Ripple price to levels: $0.30, $0.25.
BCH/USD
Current situation:
The BCH/USD quote is currently trading near the $180 mark. We expect a continued decline in Bitcoin Cash to levels: $150, $120 and $100.
Projected correction levels: $200, $210
Resistance levels: $200; $220; $300; $350; $400; $425.
Support levels: $160; $150.
Forecast: BCH/USD price reduction to levels: $150, $120; $100
LTC/USD
Current situation: The price of Litecoin continued its growth and is currently trading above $30. We expect LTC/USD quotes in the range of $25- $20.
Projected levels of correction upwards of Litecoin are as follows $40, $42 and $46.
Resistance levels: $35; $40; $46; $49; $50; $54; $58.
Support levels: $30; $27; $25.
Forecast:
Litecoin price reduction to $25, after the end of the correction.
Current situation: The BTC/USD quotation after the test of the $3500 level from the top downwards went into a correction upwards to the level of $4050 and is currently trading higher. We expect the continuation of the BTC/USD correction up to levels: $5200, $5700, and possibly to the level of $6100.
Tapering consolidation was locally formed with a support level of $4050 and resistance of $4350. The output from which will determine the direction of the movement of the Bitcoin price.
On the daily chart, you can see the expansion of the downward channel with the support line near the $2000 mark. If Bitcoin prices go below $3000, then we are most likely to see a quote near the $2000 support line.
Cancellation of the scenario may be caused by Bitcoin price increase above $6100.
Resistance levels: $4350; $4500; $5000; $5700; $6100; $6400.
Support levels: $4050; $3500; $3000.
Forecast:
After the end of the upward correction, the continuation of the BTC/USD price reduction to the zone of $3000- $2000.
ETH/USD
Current situation: The quotation of the Ethereum tested the $100 level twice and went up. At the moment, we characterize this growth as a correction in the price of ETH/USD, after a prolonged fall. The projected levels of correction up: $130, $165, $185.
If the price of Ethereum cannot overcome the level of $120 and goes below the level of $110, then we will expect a quote in the range of $90- $85.
Resistance levels: $120; $130; $150; $185; $195; $220; $240.
Support levels: $114; $110; $100; $90; $85.
Forecast:
After the end of the correction, the continuation of the ETH/USD price drop to the $90- $85 zone.
XRP/USD
Current situation: After the end of the correction, we expect the decline of Ripple’s quotation to levels: $0.30, $0.25. Also, we do not exclude a deeper immersion of XRP/USD quotes to $0.20- $0.15.
The projected levels of correction upwards of Ripple are as follows $0.40, $0.44, $0.47.
Resistance levels: $0,38; $0,44; $0,50; $0,58; $0,70; $0,76.
Support levels: $0.30; $0.20; $0.15.
Forecast:
Reduction of the Ripple price to levels: $0.30, $0.25.
BCH/USD
Current situation:
The BCH/USD quote is currently trading near the $180 mark. We expect a continued decline in Bitcoin Cash to levels: $150, $120 and $100.
Projected correction levels: $200, $210
Resistance levels: $200; $220; $300; $350; $400; $425.
Support levels: $160; $150.
Forecast: BCH/USD price reduction to levels: $150, $120; $100
LTC/USD
Current situation: The price of Litecoin continued its growth and is currently trading above $30. We expect LTC/USD quotes in the range of $25- $20.
Projected levels of correction upwards of Litecoin are as follows $40, $42 and $46.
Resistance levels: $35; $40; $46; $49; $50; $54; $58.
Support levels: $30; $27; $25.
Forecast:
Litecoin price reduction to $25, after the end of the correction.
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