12th May - Crypto Price Analysis
BTC the $10,000 level proved to be a tough challenge to cross and fell to $8,130.58. The strong bounce back from these level is a positive sign.
The price recovered sharply from $8,130.58 and since then has been trading above the $8,500 levels.
If the pair bounces off $8,500, it could be a good buy entry point for the traders with a stop-loss placed just below $ 8500 with objective on $9,600 and then $10,000.
If the BTC breaks below $8,500, traders can wait for the price to bounce off the support which can offer another buying opportunity with stops placed just below $ 8500.
Bearish below $ 8500 and will be negative, which will be possible change in trend and bottom buying should be avoided.
The bulls failed to sustain the higher levels and resulted in correction at $ 204.
Buyer have been buying the dips of $ 204 and the pair bounced back from the support line which is a positive sign.
Bearish below $181.40 and fall to $167 and below it to $150.
Traders can initiate short positions below $181 with stops just above $194.
Bulls can be seen buying at $ 181, push the price above $197.821-$201.696 and which could rally above $ 208.
Markets are volatile, traders are advised to keep their stop loss trailing with small lots of trade.
Ripple was at the forefront of the selloff which took the price to$0.1750.
Bulls have in the last 48 hours have pulled the price and capped $0.20.
We need to wait for current session and the European session.
If it breaks $ .20 then it might push to $0.21.
Current trend shows consolidation and trades should be avoided.
Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update email@example.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326