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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-21-lipca-2020/

Which way will bitcoin come out of the triangle?

Looking at the quotations of the oldest cryptocurrency, we notice that the market has been moving in a horizontal trend for some time, creating an isosceles triangle formation. Due to the almost complete narrowing and the decreasing difference between the downward trend line being the upper boundary and the upward trend line being the lower bound of this pattern, the BTC price has remained relatively stable over the past days, showing no major upward or downward movements.

It is worth paying attention to the increasing narrowing of the triangle formation, which inevitably brings us closer to breaking out of this formation.

It should be remembered that while the triangles are one of the most popular patterns, so we are able to set them relatively regularly on the charts, they are not directional patterns. In simple terms, the very formation of the triangle does not determine the direction of the later movement. Only the direction of the breakout from the pattern (top or bottom) increases the probability of higher increases (in the case of a top breakout) or declines (in the case of a bottom breakout).

If the market broke out of the current formation, the BTC price could rise to around $ 9,450, $ 9,700, $ 10,000, or even $ 10,400. However, if the stock breaks down from the current triangle, then the BTC price could drop to $ 8,900, $ 8,700, or even $ 8,500.

LINK for the analysis of other digital coins: https://blog.coinquista.com/analiza-techniczna-kryptowalut-21-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 ruins 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!

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