Bitcoin trend remains descending. All the highs and lows of the price have a decreasing trend, which is typical for the bear market. If the price of BTC/USD is lower than $5700, where the uptrend line is located (the trend was formed since March 2017), then the long-term reduction targets will be in the $4000- $3000 zone.
Current situation: Bitcoin quotation has decreased to $6500, where the support line is located. In the event of a breakdown of $6500, we expect a decline to $6100.
In our opinion, the price of Bitcoin can go deeper, to the level of $5000. But this scenario is possible if the price falls below $6100-$5700. Cancellation of the scenario can be caused by growth above the level of $7400.
Forecast: Bitcoin price decrease from the $6500- $6600 zone and the target - $6100.
ETH/USD Overview: The global trend remains descending.
Current situation: We expect the price reduction of ETH/USD to the $180 - $150 zone, after breaking through the level of $220. The cancelation of the ETH/USD price reduction can be caused by buying out the quotation above $270.
Forecast: Decrease in the price of ETH/USD from current values ($220- $230) and the target in the $180- $150 zone.
XRP/USD Overview: Downtrend
Current situation: The quotation of XRP/USD tested the level of $0.62 from the bottom-up and went down and is currently trading near the 0.56 mark. We do not recommend buying an asset on these values.
Resistance levels: $0.58; $0.70; $0.76. Support levels: $0.42; $0.38.
Forecast: Decrease in the price of Ripple from the zone $0.58 - $0.53 with a target in the $0.42- $0.38 zone.
BCH/USD Overview: The trend is bearish.
Current situation: We expect the price drop of Bitcoin Cash to levels: $400, $350.
Forecast: The price of BCH/USD is falling from the level of $530 and the target in the $400 - $350 zone.
LTC/USD Overview: The trend is bearish.
Current situation: The current situation remains the same, we expect a decrease in the price of Litecoin to $46. Cancelation of the scenario can be caused by fixing the price of LTC/USD above $68.