• Shivkumar

5th May - Crypto Price Analysis

(By Shivkumar)

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. 

  • 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.

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

Image by Andrew Neel

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