BitcoinShort
Weekly Review: BTC ETH XRP BCH LTC
BTC/USD
Overview:
Bitcoin is in a downtrend. The price of BTC/USD left the zone of long-term consolidation down, dropping below $5700- $5500. Also, the quote broke through the uptrend support line near the $6000 level. The long-term goal of the decline is near the $3000 mark.
Current situation:
The BTC/USD quote is rapidly falling and has reached the first goal of reduction $5000. We expect a further decline in the price of Bitcoin to the level of $4500. After reaching the mark of $4500, we expect a correction up to the zone of $5700- $6000.
Cancellation of the scenario may be caused by Bitcoin price increase above $6800.
Resistance levels: $5000; $5700; $6100; $6400.
Support levels: $4500; $4000; $3000.
Forecast:
BTC/USD price reduction from $5000 and target: $4500.
ETH/USD
Overview:
Ethereum is in a downtrend, the price is at historic lows (from September 2017). We expect a further decline in the asset to the level of $100.
Current situation:
The quotation of the Ethereum fell below the level of $200. The price of ETH/USD has reached its first goal at around $150.
We still expect a decline in the price of ETH/USD to the level of $100.
The maximum possible upward correction is in the range of $185- $195.
Resistance levels: $185; $195; $220; $240, $280; $300; $325; $350; $380; $400.
Support levels: $150; $100.
Forecast:
Continued fall in the price of ETH/USD from the level of $150 and the goal in the area of $130- $120.
XRP/USD
Overview:
If Ripple’s sellers manage to break through the $0.44- $0.40 zone, then we would expect XRP/USD quote near $0.30.
Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone.
Cancellation of the scenario may be caused by Ripple price growth above $0.50.
Current situation:
The situation does not change, the price of XRP/USD is located near an important support area.
Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.44; $0.38; $0.30.
Forecast:
Ripple price reduction to $0.30.
BCH/USD
Overview: The downtrend.
The main scenario remains bearish with the renewal of lows near the $200 mark.
Current situation:
The Bitcoin Cash price has reached its first goal of $350. We expect a further decline in the asset in the $300- $250 zone.
Resistance Levels: $350; $400; $425; $450; $500; $520
Support levels: $300; $250
Forecast:
BCH/USD price reduction to $250.
LTC/USD
Overview:
The trend is bearish. We expect a decrease in quotes to $30.
Current situation:
The price of Litecoin broke through the level of $40 and began to decline rapidly. We expect a further drop to $30.
We do not exclude the correction of the LTC/USD price up to the level of $46.
Resistance Levels: $40; $46; $49; $50; $54; $58.
Support levels: $35; $30.
Forecast:
Litecoin price reduction to $30.
Overview:
Bitcoin is in a downtrend. The price of BTC/USD left the zone of long-term consolidation down, dropping below $5700- $5500. Also, the quote broke through the uptrend support line near the $6000 level. The long-term goal of the decline is near the $3000 mark.
Current situation:
The BTC/USD quote is rapidly falling and has reached the first goal of reduction $5000. We expect a further decline in the price of Bitcoin to the level of $4500. After reaching the mark of $4500, we expect a correction up to the zone of $5700- $6000.
Cancellation of the scenario may be caused by Bitcoin price increase above $6800.
Resistance levels: $5000; $5700; $6100; $6400.
Support levels: $4500; $4000; $3000.
Forecast:
BTC/USD price reduction from $5000 and target: $4500.
ETH/USD
Overview:
Ethereum is in a downtrend, the price is at historic lows (from September 2017). We expect a further decline in the asset to the level of $100.
Current situation:
The quotation of the Ethereum fell below the level of $200. The price of ETH/USD has reached its first goal at around $150.
We still expect a decline in the price of ETH/USD to the level of $100.
The maximum possible upward correction is in the range of $185- $195.
Resistance levels: $185; $195; $220; $240, $280; $300; $325; $350; $380; $400.
Support levels: $150; $100.
Forecast:
Continued fall in the price of ETH/USD from the level of $150 and the goal in the area of $130- $120.
XRP/USD
Overview:
If Ripple’s sellers manage to break through the $0.44- $0.40 zone, then we would expect XRP/USD quote near $0.30.
Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone.
Cancellation of the scenario may be caused by Ripple price growth above $0.50.
Current situation:
The situation does not change, the price of XRP/USD is located near an important support area.
Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.44; $0.38; $0.30.
Forecast:
Ripple price reduction to $0.30.
BCH/USD
Overview: The downtrend.
The main scenario remains bearish with the renewal of lows near the $200 mark.
Current situation:
The Bitcoin Cash price has reached its first goal of $350. We expect a further decline in the asset in the $300- $250 zone.
Resistance Levels: $350; $400; $425; $450; $500; $520
Support levels: $300; $250
Forecast:
BCH/USD price reduction to $250.
LTC/USD
Overview:
The trend is bearish. We expect a decrease in quotes to $30.
Current situation:
The price of Litecoin broke through the level of $40 and began to decline rapidly. We expect a further drop to $30.
We do not exclude the correction of the LTC/USD price up to the level of $46.
Resistance Levels: $40; $46; $49; $50; $54; $58.
Support levels: $35; $30.
Forecast:
Litecoin price reduction to $30.
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