18th July - Crypto Technicals & Market Watch
Bitcoin (BTC) broke below the $ 10868 on July 16 , which is a negative sign. We will watch whether the selling picks up or the bulls fight back above the level.We are on the lookout to buy if we spot a reversal pattern on the pair. if the price fails to find buyers and continues its decline, it can dive to the $7,451.63–$6,933.90 support zone. However, we give this a low probability of occurring.
ETH is in the oversold Zone, which suggests that bears are back in the game. If the uptrend breaks the next stop is $ 150.If the current rebound off the uptrend line breaks out of $235.70.If the next dip sustains above $ 224 the pair might enter range bound.We will wait before proposing a trade in it.
Ripple (XRP) is attempting to bounce off the critical support at $0.27795. We see the pair is oversold and suggest the bears are in command.If the price slips below $0.27795, it can drop to the yearly low of $0.24508.If the next dip holds above $0.27795, we might suggest a trade.
Bitcoin Cash (BCH) is in a downtrend, are the pair is oversold which shows that bears are in contol.The bulls are tryig to push the price back above $325 once again.If the recovery attempt fails, it can slide to $ 227 and below it o $ 166.
Disclosure: The author holds no cryptocurrency at the time of writing.
Register for Technical news and market update email@example.com