27th July - Crypto Technical & Marketwatch
Restrain yourself from buying in a downtrend as it might result in huge losses.Bitcoin (BTC) is currently hovering above the important support zone of $9,727.55 to $9,080. It is very difficult to predict whether the price will bounce from here or correct.The next few days will confirm whether the BTC/USD pair bottoms out at the current levels or at the next support zone of $7,451.63–$6,933.90. We will wait before suggesting any trade.
If the ETH/USD pair slides below the uptrend line and the recent low of $192.945, it can quickly drop to $150,which suggests that the bears have the upper hand.We will wait for the price to sustain above $ 266 before recommending a trade in it.
XRP is not generating any interest from buyers. The sellers are also not attempting to break down of the critical support at $0.27795.Long-term investors can buy at the current levels and keep a stop loss below $0.2750. This gives them an attractive risk to reward ratio.Traders should wait and buy only when the price starts to move up.
We anticipate the digital currency to trade between $251.23 and $345.80 for a few days. A breakout of the range can carry the price to $428 and above it to $500.if the BCH/USD pair turns down from the current levels, it can drop to the support at $251.23. If this support cracks, the next critical level to watch on the downside is $227.70. As the trend is still down, we will wait for the price to break out of $345.90 before suggesting a long position in it.
Disclosure: The author holds no cryptocurrency at the time of writing.
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