5th May - Crypto Price Analysis
(By Shivkumar)
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1) BTC/USD
Bitcoin turned down from $9,190.82 and traders might have booked partial profits as per previous analysis.
Bulls buying at the dips $8,526.38 and a break above $ 9200 will suggests a uptrend with a target objective of $10,857.89.
Bearish below the level of $ 9200 and if successful to break these level,they can give a fight with bulls at $10,000 and again at $10,500.Â
Traders can have the stops below $ 7965 on the rest of the buy position and can be trailed.
2) ETH/USD
There was profit booking by short term trader booked which resulted a drop to $ 192 which triggered stop on 50% of the trade of long position to $ 200 in previous analysis.
Stops on the rest of the position can be retained at $185 to give a larger room for trades.
There is a sharp bounce off from $ 192 which is a positive sign as it shows strong buying by the bulls on dips and they will make an another attempt to push the price.
If successful,rally to $250 and then to $289.599.
Bearish if it breaks below $ 192.
3) XRP/USD
XRP has once again bounced off the $0.20570 which is a positive sign and can rally to $ 0.245 and also to $0.28.
Traders can book partial profits on their buy positions and trail the stop-loss on the rest of the position to $0.20.
Bearish below $ 20 and a drop to $0.17372 is possible.
4) BCH/USD
Bulls failed to propel Bitcoin Cash above $280.47 might keep it range-bound between $200-$280.47 for a few more days.
Bearish below $ 250 , a drop to $200 is possible.
Traders can have the stop-loss on the buy positions can be retained at $230.
Bullish if pair bounces off $ 243 and bulls might make one more attempt to push the price above $280.47,which will have a new uptrend is likely.
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Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update shiv@shivfxcrypto.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326
