After surging to nearly $10,500 on Oc. 26, Bitcoin began consolidating between the 61.8 and the 50 percent Fibonacci retracement level.
If BTC is able to close below the 50 percent Fibonacci retracement level, it would likely move down to the next level of support around $7,900.
If the selling pressure behind it is strong enough it could even test the 38.2 Fibonacci retracement level, at $7,250.
If confirmed, Ethereum could bounce off the $177 support level to test the $193.50 resistance level once again.
XRP. XRP is contained within the $0.24 support level and the $0.30 resistance level since mid-August.
Moving above this significant resistance cluster would likely take XRP to test the next level of support provided by the 200-day moving average.
Based on the technical analysis previously presented, it seems like the top three cryptocurrencies by market cap are sitting at pivotal points in their trends facing low levels of volatility.
BTC could be aiming for a retest of the $7,300 support level.
An increase in the buying pressure behind these cryptocurrencies could take them to test their respective resistance levels once again.
Bitcoin could go up to $9,300 level, Ethereum to $193.5, and XRP to $0.30.
Bitcoin, Ethereum, and XRP prepare for a significant move
gepubliceerd op Nov 15, 2019
by Cryptoslate | gepubliceerd op Coinage
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