7th March - Crypto Technical & Market Watch
Bitcoin has broken out of the tight $8,400-$9,000 range but is facing minor resistance at $9,135. If successful to push the price above a move to $10,000 and above it to $10,500 is possible. We hold as per our previous buy recommendation given in the previous analysis.Below $8,400, it will be a huge negative and the major support is at $7,856.76.
Above $235.70 if successful, a move to $277.091, followed by a rally to $288.599 is possible. We retain buy as per previous analysis.If the ETH pair turns down from the current levels or fails to sustain above $235.70,than it can range bound for few days.Below $209.95 bearish and the next support is at $197.75.
If the bulls can push XRP price above $0.26362, a rally to $0.28550 and above it to $0.31503 is possible. We will wait for the price to sustain above $0.26362 before turning positive.
If the BCH/USD pair turns down from $360, a few days of range-bound action is likely and pair will turn negative on a break below $306.78.If the bulls can push the price above $360, a rally to $400 and above it to $428.57 is possible. Traders can buy on a close above $360 and keep the stop loss at $306. The stops can be trailed higher if the price moves further upside.
Disclosure: The author holds no cryptocurrency at the time of writing.
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