Skip to content

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin: Price Analysis, October 30

--Advertisements --

The opinions and opinions expressed herein are those of the authors / contributors and do not reflect not necessarily the views of Cointelegraph.com. Every movement of investment and trading involves risks; you should do your own research by making a decision.

* Market BTC / USD, ETH / USD and LTC / USD Data provided by the trade HitBTC

]

A bullish rumor circulated that the Chinese ban on bitcoin trading is likely to be lifted. This news boosted the price of Bitcoin yesterday. However, a message of Huobi's farewell poured cold water on expectations. As a result, Bitcoin prices correct their highs.

While Warren Buffett, Jamie Dimon, and a few others warn of a bubble in Bitcoin, legendary investor Bill Miller smiles at the bank. His fund is up 70% this year. Miller had invested about 30% of his fund's assets in Bitcoin in early 2016.

Elsewhere, some central banks are trying to stifle the use of Bitcoin by banning it. Nevertheless, the beauty of cryptocurrencies is that they are not controlled by anyone. The market will decide the value. Although the ban may make it difficult to use Bitcoin on the market, it is unlikely that it will affect trading activity.

-- Advertisements --

BTC / USD

Bitcoin rebounded strongly from the support of the ascending channel trend line.

 BTC / USD "src =" https://cointelegraph.com/storage/uploads/view/cdcd19db867eafeef3789f27e22c8e9b.png "title =" BTC / USD "/> On Sunday, cryptocurrency broke up above the resistance line of the ascending channel, but could not support it. Even though the ascending channel was a stiff resistance and the RSI also shows a negative divergence, we believe that if digital currency breaks out again Therefore, we recommend a purchase at $ 6400 with a loss of nearly $ 6,000, but it is a risky transaction, therefore, only use 30% of usual allowance. </p>
<div style=

If the cryptocurrency fails to escape and maintain above the resistance line of the ascending channel, it can again fall on the support of the trendline and it will become negative. , only if it breaks down trend line support and the exponential moving average of 20 days, which is at $ 5623.

ETH / USD

Ethereum continues to trade in a range. He still has not been able to get out of overhead resistance at $ 315.

 ETH / USD "src =" https://cointelegraph.com/storage/uploads/view/7b09ba54ad80ed5d9c8405572ff579ef.png "title =" ETH / USD "/> </p>
<p dir= Si the cryptocurrency comes out of the resistance at $ 315, there is a good chance that it starts a new uptrend: this time we expect a breakout of $ 353 and a hike to $ 366 Therefore, we recommend a purchase on Ethereum at $ 319 with a stop loss of $ 289

-- Advertisements --

Partial profits can be reserved at $ 350 and the stop loss on the remaining position can be dragged higher.

D & # 39 On the other hand, if the digital currency does not come out of the range, a fall in the trend line is likely, Ethereum will become negative if it decomposes and remains below the trend line.

] recommend a purchase, only on an escape.

BCH / USD

Those traders who initiated long positing ions on our recommendation would have earned a quick return of 22% in a day. They would have gone in at $ 422 and would go out for the $ 518 goal on October 29th.

 BCH / USD "src =" https://cointelegraph.com/storage/uploads/view/9aa4f6639e56a3f6982add9914ba34d6. png "title =" BCH / USD "/> Bitcoin Cash has come off the range on October 28 and has been holding up since then, bullish sign, then cryptocurrency is expected to rise to $ 549, can do faced with some resistance, but if the bulls' burst this aerial resistance, a move to $ 700 is possible. </p>
<div style=

We, however, can not find any reliable purchase put in place at current levels, which gives us a good risk / return ratio We therefore recommend no long positions at current levels We will wait for a little consolidation to restore the positions

-- Advertisements --

XRP / USD

Ripple does not still not triggered our buying levels and continues to trade in a narrow range.It will execute when it starts a new uptrend or downtrend.

 XRP / USD "src = "https://cointelegraph.com/storage/uploads/view/bd9 Therefore, we maintain our buy recommendation on Ripple at $ 0.22, on a break above moving averages. The stop should be maintained at $ 0.19659. </p>
<p dir= The breakout is likely to bring the digital currency to $ 0.23955 and $ 0.251111 levels, which are 50% and 61.8% Fibonacci retracement levels of the fall of 0, $ 29,699 to 0.188211. ]

Traders should increase their break-even stops once the cryptocurrency has risen to $ 0.23955. We suggest booking partial profits at $ 0.255311. The loss of stopping on the remaining position should be higher.

If the break fails to hold, the ripple will likely remain bound for a few more days. It will become negative only on a breakdown below $ 0.18211.

LTC / USD

Litecoin still has not closed above the range of $ 44 to $ 57.7. As a result, our previous purchase purchase levels have still not been triggered.

-- Advertisements --

 LTC / USD "src =" https://cointelegraph.com/storage/uploads/view/91351d49bdf3da0bba9f32e68d62ae01.png "title =" LTC / USD "/> Litecoin continues to consolidate near the superior As a result, we change our previous purchase recommendation </p>
<p dir= We now recommend to buy Litecoin at $ 59 with a stop loss of $ 53 Our earnings goal remains $ 71, where we recommend to reserve 50% of profits The remaining position can be maintained with a loss of end of follow-up because if the digital currency explodes of 71 $, it can rally to levels of 82.

See also  Charities to Improve Transparency Thanks to Blockchain

However, if the cryptocurrency fails to break can again fall to levels of $ 51.

Advertisements