10th Dec - Crypto Technicals & Market Watch
(By Shivkumar) #cryptotrading #crypto #btcusd #ethusd #xrpusd #bchusd #technicalanalysis #btcnews #CryptoNews #btc #xrp #bch #eth #cryptocurrencytrader #cryptotrading #cryptomarket #cryptocoins #cryptoinvestor #cryptosignals #cryptolifestyle #cryptowallet #cryptoinvest
Bitcoin is facing stiff resistance close to $7,856.76 and can sink the price to the immediate support at $7,000. If this support cracks, a retest of the recent low of $6,512.01 and below this support huge negative that can drag the price to $5,533.90. We expect another attempt by the buyers to push the price above the $ 7580 and the resistance of $7,856.76. We stand by the the buy suggested in an previous analysis.
The bulls are facing stiff resistance at $151.829. From these level it can it can dip to $140 and below it to $131.484. A break below $131.484 will resume downtrend. If the bulls can push the price above $151.829, the next level to watch is $157.50. Traders can initiate long positions above $157.50. The first target is a rally to $173.841 and above it $197.750.
The bears are aggressively defending the resistance at $0.2326 . The target objective of this bullish set up is $0.26479. If the price falls, the next support is $0.20946 and if that also fails to provide support, a drop to $0.20041 is possible.
Bitcoin Cash remains stuck inside the $203.36 to $227.01 range. A breakout of $227.01 a rally to $261.50 and above it to $306.78 is possible. We stand by the buy suggested in the previous analysis.If the BCH/USD pair breaks down of $203.36, a retest of $192.52 is likely. If this support also cracks, the downtrend will resume.
Disclosure: The author holds no cryptocurrency at the time of writing.
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