Bitcoin price analysis Bitcoin's (BTC/USD) consolidation process is the main price action theme over the past four months. This kind of activity suggests
Bitcoin’s (BTC/USD) consolidation process is the main price action theme over the past four months. This kind of activity suggests that traders and investors are accumulating the digital asset, having in mind an assumption, that prices are relatively cheap at this level. The leading cryptocurrency quarterly price average crossed its monthly price average from the upside towards the downside, suggesting a temporary price recovery. However, the accumulation process will prove successful in case Bitcoin’s price will cross its 8,500 Key downtrend resistance level.
Weak: 6,150 Strong: 6,000 Key: 5,800
Weak: 6,850 Strong: 7,415 Key: 8,500
Month: 6,446 Quarter: 6,564 Year: 7,928
Bitcoin Cash (BCH/USD) gained more than 20% on September 18. However, the 600 region remains a strong resistance level that Bitcoin Cash has not been able to test.
Weak: 470.0 Strong: 424.0 Key: 408.0
Weak: 555.0 Strong: 600.0 Key: 660.0
Month: 464.8 Quarter: 517.7 Year: 948.8
Ethereum (ETH/USD) is under a strong selling pressure, most probably with the support of its founder recent announcements. Adding to that fact the lack of technical recovery signals, Ether is expected to trade under pressure, waiting for a game changer to perform a recovery price action.
Weak: 200.0 Strong: 192.0 Key: 167.0
Weak: 255.0 Strong: 270.0 Key: 300.0
Month: 213.5 Quarter: 257.0 Year: 556.5
Litecoin (LTC/USD) is range trading between its 50 key support region and the 70-downtrend resistance level. The downtrend is valid, as long as the cryptocurrency is trading below the 70 mark.
Weak: 54.30 Strong: 50.00 Key: 48.00
Weak: 60.00 Strong: 63.80 Key: 70.00
Month: 55.99 Quarter: 57.92 Year: 119.58
XRP (XRP/USD) is showing signs of historical performance duplication. The daily chart shows XRP is building a technical pattern resembling its April 2018 performance. Seems like history repeats itself…
Weak: 0.450 Strong: 0.360 Key: 0. 246
Weak: 0.600 Strong: 0.700 Key: 0.900
Month: 0.375 Quarter: 0.344 Year: 0.635
*Any views and opinions presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading.
This article was written by Yaron Mazor, a senior analyst at DX.Exchange
Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology, and education.