• Shivkumar

7th May - Crypto Price Analysis

(By Shivkumar)

1) BTC/USD


  • Bitcoin have broken $ 9200 and bulls can push the price above $9,456.77, a rally to $10,000 and then to $10,500 is likely.

  • If bears defend the $9,456.77 level aggressively, a drop to the breakout level of the $ 9200 is likely. If this retest holds, the possibility of a breakout above $9,456.77 increases.

  • Bearish if pair turns down from the current levels or $9,456.77 and breaks below the breakout level of the $ 9200 , a drop $8,180 is likely.

  • Trader stop-loss on the rest of the buy position can be kept just below $ 8180 because if this support cracks, a deeper correction is possible.

2) ETH/USD


  • A breakout of $ 208 will be a huge positive as that can result in a rally to $250 and then $288.599.

  • Bearish if the ETH/USD pair turns down from the $ 208 and breaks below ($195), it will signal weakness.

  • Traders traders can keep the stop-loss on the remaining buy positions at $185.


3) XRP/USD


  • Bulls are moving towards the resistance zone of $0.23612-$0.24770.

  • Bullish if the price above $0.24770, and can rally to the long-term downtrend line at $0.28.

  • Bearish if bulls fail to push the price above $0.24770 and can be range bound for few days.

  • A break below $0.20570 will be the first sign of weakness and a drop to $0.17372 is possible.

  • Traders, the stop-loss on the buy positions can be kept at $0.20.


4) BCH/USD


  • Bitcoin Cash has held the $244 for the past two days and bulls have unable to bounce back.

  • Bearish below $ 250 and sink the price below $234.55. If successful, a drop to $200 is likely.

  • Traders can keep the stop-loss on the buy positions at $230.

  • Bullish above $ 250 and rally to $280.47 is likely. A breakout of this level will signal strength and open the doors for a rally to $350.

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


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