Bitcoin Price Analysis

Last week, we have seen that most of the mentioned cryptocurrencies like BCHABC, BCHSV, EOS and TRX were bearish while Litecoin (LTC) had a bull run. Here is our week’s prediction.

BCHABC/ USD

Struggling last week, Bitcoin Cash ABC (BCHABC) lost around 30% and retraced to $84.65.

bchabc

Its a bear market for BCHABC this week too. It’s very risky to hold as it may fall further to $55. Last week we predicted the price to move from $109.30 to $75.55. An upward move to $90 may guide the trend to $112. So, we are expecting high volatility.

BCHSV/ USD

Last week, we predicted Bitcoin Cash Satoshi Vision (BCHSV) to hit $70 mark, but it went steep down to $65.

bchsv

This was a low probable trend movement with an unlikely ($65) support trend line retracing to $84 (38.2 fib level) in a very short time unlike BCHABC. We expect the volatility between $62.40 to $101.50 depending on the momentum at $82.

EOS/ USD

Last week EOS showed a highly volatile trend — the bulls scaling to $1.7896 (0.618 fib extensions) on 9th December, failing to hit high, retracing to double bottom at $1.7814 and sustained at the trend line — causing 50% fall in a fortnight.

eos

For the week ahead, a break above $2.025 will be a call for bulls to $2.4000 through $2.1205. Alternatively, a bearish trend line can pull to triple bottom at $1.7896 from the current support trend line at $1.8870. This Triple bottom can cause a further drop to $1.6480.

LTC/ USD

Last week LiteCoin (LTC) performed well. LTC soured back to double bottom on 14th December, again retested to a low at $22.866 reversing to its previous high at $27.554.

LTC

With a total outcome of 20% in 36 hours, LTC is trying to retrace to the support trend. This retracement to $25.48 can fork an upward move to $29.50 or a fall to $23.85.

TRX/ USD

TRON also retraced to $0.01259 (fib retracement 0.786) and sustained at shorter-term support trend line causing a reversal with a low favourable trading.

TRX

Probable short term bull movement to medium-term resistance trend line at $0.01332 can favour trading. We expect an upward breakout to $0.016500 through $0.01414. Failure at this level of Fibonacci retrace at $0.786 may cause a bear movement to $0.011490 and further to $0.01001 on low trade volumes.

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

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