Bitcoin price analysis Bitcoin (BTC/USD) is consolidating above its key mid and long-term support levels. The current level has been successfully tested
Bitcoin (BTC/USD) is consolidating above its key mid and long-term support levels. The current level has been successfully tested one time after the other, since November 2017. The leading cryptocurrency quarterly price average is about to cross its monthly price average from the upside towards the downside, suggesting a temporary price recovery.
Week: 6,200 Strong: 6,000 Key: 5,800
Week: 6,600 Strong: 6,800 Key: 7,300
Month: 6,717 Quarter: 6,744 Year: 8,222
Bitcoin Cash (BCH/USD) has formed a strong price resistance level between 600 and 800 and keeps trading near year lows.
Week: 400.0 Strong: 350.0 Key: 280.0
Week: 460.0 Strong: 520.0 Key: 650.0
Month: 519.29 Quarter: 573.85 Year: 1028.80
Ethereum (ETH/USD) has formed a clear downward trend channel since May 2018 and has not been able to recover amid a lack of positive catalyst.
Week: 170.0 Strong: 136.0 Key: 100.0
Week: 210.0 Strong: 240.0 Key: 300.0
Month: 242.42 Quarter: 299.05 Year: 598.74
Litecoin (LTC/USD) is still battling to hold its temporary fragile short-term support around the 50 mark with no technical recovery signs.
Week: 45.00 Strong: 40.00 Key: 35.00
Week: 56.00 Strong: 64.00 Key: 70.00
Month: 58.68 Quarter: 61.81 Year: 126.94
XRP (XRP/USD) is steadily trading within a downward trend channel, however, it has been forming an inverted head and shoulder pattern that is cueing a possible price rebound.
Week: 0.246 Strong: 0.200 Key: 0.129
Week: 0.280 Strong: 0.310 Key: 0.360
Month: 0.304 Quarter: 0.334 Year: 0.693
*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.