17.2 C
Manchester
September 23, 2020
Image default
Bitcoin

Technical analysis of Bitcoin + ETH, BHC, LTC and XRP rates |

As every Tuesday, we have another expert technical analysis of cryptocurrencies for you prepared by Graphław from Coinquista Labs. What awaits Bitcoin, Ethereum, Bitcoin Cash, Litecoin and XRP in the near future? Below you will find the analysis of the BTC rate, and on the official Coinquista blog you can read the analysis of the remaining digital assets: ETH, BCH, LTC and XRP.

LINK for the analysis of other digital coins: https://blog.coinquista.com/analiza-techniczna-kryptowalut-28-lipca-2020/

We went out on top, and what next?

Looking at the quotations of the oldest cryptocurrency, we will notice that the market has been moving in a horizontal trend for a long time, creating an isosceles triangle formation, which lasted so long that the formation was almost fully narrowed.

Exactly a week ago, on Wednesday, July 21 this year. There was a greater demand reaction, as a result of which the market broke the downward trend line which is the upper bound of the triangle pattern. Over the following days, the BTC rate broke several more minor resistance levels. However, yesterday’s break above USD 10,400 deserves special attention. Due to this fact, the BTC price is currently at its highest level since mid-August 2019.

Bitcoin’s price is currently near a technical resistance of $ 11,000. Its rejection could open the way for at least a downward correction, for which the area of ​​the recently defeated resistance (now support), ie USD 10,400, seems to be the real range.

However, if the currently tested zone is breached, the BTC price could rise to $ 12,000, or even $ 13,000.

LINK for the analysis of other digital coins: https://blog.coinquista.com/analiza-techniczna-kryptowalut-28-lipca-2020/

We remind you that on the Coinquista cryptocurrency exchange, all users can trade without commission for 90 days from registration! How to register on the exchange, you can find out in this article: Coinquista Registration.

About Graphław:
His name comes from the words: Chart- (from “stock charts”), and -fame (from “fame”), that is, the one who glorifies stock charts. He has been giving gifts since the decay of history traders expert analyzes of stock prices of companies, fiat currencies and cryptocurrencies. Traders from all over the world come to him for advice of the highest importance: Buy? Sell? Do you breed? It was not easy, but the Coinquista Labs team somehow managed to convince him to share his professional analyzes with readers. Let his charts take care of you!

Related posts

A new wave of scammers, Bitcoin will never fall to 0, Cashaa |

Aparnna Hajirnis

One million Koreans use a blockchain driving license |

Aparnna Hajirnis

Brock Pierce, a crypto investor, is fighting for the White House Blocksats

Aparnna Hajirnis

Leave a Comment