7th Dec - Crypto Technicals & Market Watch
(By Shivkumar )
#cryptotrading #crypto #btcusd #ethusd #xrpusd #bchusd #technicalanalysis #btcnews #CryptoNews #btc #xrp #bch #eth #cryptocurrencytrader #cryptotrading #cryptomarket #cryptocoins #cryptoinvestor #cryptosignals #cryptolifestyle #cryptowallet #cryptoinvest
1) BTC/USD
The bulls are attempting to keep Bitcoin above $7,000 and is a positive sign.If the bulls rally the price above $7,856.76, it will signal strength.Above $7,856.76, a rally to the downtrend line is likely.A breakdown of the downtrend can start a new uptrend. We wait as per previous analysis to buy.if the BTC/USD pair reverses direction from the current levels or plummets below $6,512.01, the downtrend will resume.we do not suggest buying until we see change in the trend.
2) ETH/USD
The bulls have been attempting to push Ether into the range of $151.829 to $235.70.If the bulls propel the price above $157.50, the next level to watch out for is $173.841 and above it $197.750. Traders can look can look for buying opportunities after the price sustains above $157.50.If the bulls fail the price above $157.50, the ETH/USD pair will consolidate between $131.484 and $157.50 for a few more days.
3) XRP/USD
The bears have not been able to sustain the price below $0.22.A break above $0.23260 to $0.24508 resistance zone will be the first indication that the downtrend is over. We suggest long positions after the price sustains above $0.24508.If the bears sink the XRP/USD pair below $0.20041, the downtrend will resume.
4) BCH/USD
The bulls are attempting to defend the support at $203.36.Bitcoin Cash consolidating between $192.50 and $227.01.Above $227.01, the first target objective is $261.50 and above it $306.78.the traders can initiate long positions above $227.01 and keep a stop loss of $192.if the bears sink the price below $192.50 the next level to watch on the downside is $166.98.
Disclosure: The author holds no cryptocurrency at the time of writing.
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