BitcoinShort
Weekly Review: BTC ETH XRP BCH LTC
BTCUSD
Overview:
Despite the expectations of many investors, the Bitcoin rate is moving in a downtrend. The Bollinger Band indicator shows the narrowing of volatility over the last quarter.
Current situation:
The closest support level for Bitcoin quotes is $4900.
Important resistance level: $8000.
The week begins with a decline in Bitcoin quotes.
Forecast:
The fall of the Bitcoin exchange rate from $6480 to $6000, with a potential of up to $4900.
ETHUSD
Overview:
As can be seen from the weekly chart of the price of Ethereum, its rate significantly reduced its volatility and is trading below the Bollinger average line. It is clear that the bearish trend continues.
Current situation:
The closest support level for Ethereum quotes may be near the $160 mark.
An important resistance level is $406.
According to technical analysis, at the beginning of this week, the rate of Ethereum looks more for sale than for purchase.
Forecast:
The fall of the rate of Ether from $220 to $160.
XRPUSD
Overview:
Ripple's rate on the weekly chart stumbled up from $0.27 and is trading above $0.45. Despite such a sharp increase in its value, we regard this movement as a correction to the downtrend.
Current situation:
Ripple's price has been growing for several weeks, and now it intends to test the level of $0.46 from below.
The closest support level for Ripple’s price is $0.27.
Significant resistance level is $0.64.
Forecast:
Ripple's fall from $0.52 to $0.40, with the potential to fall to $0.27.
BCHUSD
Overview:
The Bitcoin Cash rate is close to the middle of Bollinger band, and is moving along a downtrend.
Current situation:
The Bitcoin Cash rate has formed a long consolidation under the average Bollinger. The Bollinger indicator itself shows a contraction, followed by a surge in volatility.
Despite the positive mood of investors, the price of Bitcoin Cash intends to update its lowlands near the level of $340.
Support level: $340.
Resistance Level: $660.
Forecast:
The fall of the Bitcoin Cash rate from $590 to $453, with a future goal of $340.
LTCUSD
Overview:
Litecoin price has been moving in downward trend, below the average Bollinger, for a long time. There are no signs for trend reversal yet.
Current situation:
The week began with a drop in the quotes of Litecoin.
An important level of support may be: $33.
Significant resistance level: $70.
Forecast:
The fall in Litecoin rate from $52 to $45, and further - $33.
Overview:
Despite the expectations of many investors, the Bitcoin rate is moving in a downtrend. The Bollinger Band indicator shows the narrowing of volatility over the last quarter.
Current situation:
The closest support level for Bitcoin quotes is $4900.
Important resistance level: $8000.
The week begins with a decline in Bitcoin quotes.
Forecast:
The fall of the Bitcoin exchange rate from $6480 to $6000, with a potential of up to $4900.
ETHUSD
Overview:
As can be seen from the weekly chart of the price of Ethereum, its rate significantly reduced its volatility and is trading below the Bollinger average line. It is clear that the bearish trend continues.
Current situation:
The closest support level for Ethereum quotes may be near the $160 mark.
An important resistance level is $406.
According to technical analysis, at the beginning of this week, the rate of Ethereum looks more for sale than for purchase.
Forecast:
The fall of the rate of Ether from $220 to $160.
XRPUSD
Overview:
Ripple's rate on the weekly chart stumbled up from $0.27 and is trading above $0.45. Despite such a sharp increase in its value, we regard this movement as a correction to the downtrend.
Current situation:
Ripple's price has been growing for several weeks, and now it intends to test the level of $0.46 from below.
The closest support level for Ripple’s price is $0.27.
Significant resistance level is $0.64.
Forecast:
Ripple's fall from $0.52 to $0.40, with the potential to fall to $0.27.
BCHUSD
Overview:
The Bitcoin Cash rate is close to the middle of Bollinger band, and is moving along a downtrend.
Current situation:
The Bitcoin Cash rate has formed a long consolidation under the average Bollinger. The Bollinger indicator itself shows a contraction, followed by a surge in volatility.
Despite the positive mood of investors, the price of Bitcoin Cash intends to update its lowlands near the level of $340.
Support level: $340.
Resistance Level: $660.
Forecast:
The fall of the Bitcoin Cash rate from $590 to $453, with a future goal of $340.
LTCUSD
Overview:
Litecoin price has been moving in downward trend, below the average Bollinger, for a long time. There are no signs for trend reversal yet.
Current situation:
The week began with a drop in the quotes of Litecoin.
An important level of support may be: $33.
Significant resistance level: $70.
Forecast:
The fall in Litecoin rate from $52 to $45, and further - $33.
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.