Bitcoin Price Analysis

Disclaimer: We are NOT financial advisors and none of this advice should be taken without speaking to a qualified professional. Further, do NOT invest more than you’re willing to lose and please do your own research.


Reaching the lowest low on 7th December last week, with reaching its Fibonacci extension at $3278, Bitcoin is moving on shorter-term bull trend.


If it breaks above the resistance trendline at $3775, the further movement will be upwards to $4000. On the other hand, if it comes down to the support trendline at $3420, a key retracement area; the upward movement to $4000 will be stronger. Alternatively, if again pressured, the maximum probable outcome will immediately be at $2540 if it doesn’t withhold the support trendline at $3200.


Ripple also trended like its major counterpart Bitcoin.


Shorter-term trending started same as Bitcoin, pulling above $0.3400 and it will trigger a positive moment to $0.3625 spontaneously. If the breach is below the shorter-term trendline, $0.3026, it will be a pull-down to $0.2855 and if the pressure continues then a heavy burst to $0.2216.


Ethereum’s shorter-term upward trend started on 7th December, morning while Bitcoin started upward trending only in the evening.


The shorter-term trending upside of Ether seems to be good, and it tries to retrace to the support trendline at $87.70 that will be a key reversal for a nice bull to appear where it can move to $105.80. Alternatively, if the area at $87.70 couldn’t sustain it will stick to the next supporting medium trendline at $78.50, and a further breach will trigger a massive break down to $55.70.


When compared with major crypto players like Bitcoin and Ether, the shorter-term trending is very good as it broke the medium term bearish trend at $0.1230 and further the high probability move will be upwards to $0.1400.


The break below at $0.1155 will give momentum to $0.0975, and the further will be worst to $0.035.


After Bitcoin Cash was forked into BCHABC and BCHSV, the trend can be determined only by comparing it with the major crypto Bitcoin.


Like Ether, the same has happened for BCHABC; if it retraces to the level of $100.20, the movement upside will give a good upward output to $125.60 and breaking further to $165.80. Next on the alternate scenario if it doesn’t withhold the pressure then finding its way till $54.40.


After the fork on 17th November, the journey was not as smooth as expected for a couple of days.


But it started trending upwards from 23rd November reaching $124 immediately. It formed a 2-week bull trend; however, the resistance trendline broke on 7th December when other cryptos started trending. The trend on the upward move is till $123 as of now, and in case a failure happens, and if it breaks the level at $90, it will trigger a vigorous move to $70.50


Unlike other cryptocurrencies, Tether is based on the underlying US Dollar. To make it sustain on the crypto market, this was the reason to make it underlined to US Dollar.


As of now while writing it had retraced to the shorter-term support at $0.9943, a breach below will move till $0.9868 and alternatively upward movement to $1.0003 and next to $1.0109.


After the 50% fall from 1st December, EOS token reached the lowest low of $1.5570. The shorter-term trend is formed like other cryptos but from 7th December midnight when comparing.


EOS is taking more support on trendline about 4 times that will help a positive move amicably to $2.653 in upcoming days. If it doesn’t hold up the level of $1.840 and hell move again downwards to $1.186.


Like EOS token, Litecoin started its shorter bull pattern by midnight of 7th December at $22.54.


While trending upwards, it took retrace support at $23.37 which trailed up to $27.33. The further probable move is till $36.70 if upward trend prevails else $24.40 breakout will turn downside again to $13.75.


Unlike the above mentioned top cryptos, Tron was firm in making the support retracement to $0.01217 with previous support on 25th November at $0.01112.

TRXThe trend trading as of now is rising wedge which will obviously a downward one, but the medium-term trend is bullish with higher support legs and currently trading a resistance level. The higher probability is predicted if the move is above $0.0140 which helps a bull till $0.01814. On the other hand, if there is a breakdown of $0.01217, it will start to burn to $ 0.00515.

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