VARZAR_INVESTMENT

Trend Analysis: BTC ETH XRP BCH LTC

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC/USD
Overview:
The trend on Bitcoin remains downward. All highs and lows prices have a declining trend, which is typical for a bear market.

If the BTC/USD price drops below $5700, where the uptrend line is located (the trend has been formed since March 2017), then the long-term goals of decline will be in the area: $4000- $3000.

Current situation:
The BTC/USD quotation is in the consolidation range of $6400 - $6600. We stick to the scenario with a decrease in the price of Bitcoin with the current level and goals near levels: $6100, $5700. But we also do not exclude the possible continuation of the correction up to the levels: $6800, $7200. We do not recommend to make purchases at these levels.

In our opinion, the price of Bitcoin may drop to $5000. But this scenario is possible when the price falls below $6100- $5700.

Cancellation of the scenario of the asset reduction can be caused by the growth above $7400.

Resistance Levels: $6500; $6800; $6900; $7200; $7400.
Support levels: $6400; $6100; $5800; $5400; $4500.

Forecast:
Reduction of the price of Bitcoin from $6500 with targets: $6100, $5700.

ETH/USD
Overview:
The global trend remains downward.

Current situation:
The price of Ethereum was not able to overcome the resistance line at around $230. We still expect further price reductions of ETH/USD to the zone of $180 - $150.

A rise in the price of Ethereum above $240 will mean a return to the upward channel in order to increase $270.

Resistance Levels: $220; $240, $270; $300; $325; $350; $380; $400
Support levels: $200; $180; $150; $100

Forecast:
Reduction of the price of ETH/USD from $220 with the goal in the area of $180- $150.

XRP/USD
Overview:
The trend is downward.

Current situation:
Ripple's quotation is near the mark of 0.50. We, as in previous reviews, remain on the side of XRP/USD sellers, and we expect the asset price to fall to $0.42— $0.38.

Resistance levels: $0.58; $0.70; $0.76.
Support levels: $0.50; $0.42; $0.38.

Forecast:
Reduction of the price of Ripple from the level of $0.50 and the goal in the zone of $0.42- $0.38.

BCH/USD
Overview:
The trend is bearish .

Current situation:
The price of Bitcoin Cash continues to be above $500. Since the quotation is below the support zone of $520– $530, we still have reason to expect a price at the level of $450, where the support line of the ascending channel passes. In case of the price going below the support of $450, the decline will continue to levels: $400, $350.

Resistance Levels: $520; $560; $600; $650; $680; $800
Support levels: $500; $450; $400; $380

Forecast:
Reduction of the price of BCH/USD from $510 and a target in the area of $400 - $350.

LTC/USD
Overview:
The trend is bearish .

Current situation:
Litecoin quotation is below the support line of the ascending channel ($60 level), which gives us reason to expect an update of the annual price lows near the level of $46.

Resistance Levels: $58; $60; $62; $65; $68; $72; $75
Support levels: $54; $50; $49; $46.

Forecast:
Reduction of the price of Litecoin from $58 with a target of $46.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out