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(+) Technical Analysis: Bitcoin falls below $ 7000, Altcoins back down, as Bitcoin money jumps

Bitcoin continues to lose ground against altcoins, although liquidation of the most valuable coin has infected the rest of the segment with only a rise in Bitcoin Cash, exceeding the $ 800 mark for the first time since end August.

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BCH / USD, Analysis of graphs in 4 hours

BTC dropped below $ 7,000 and quickly approached the near term support level at $ 6,700 as the decline accelerated. The long-term outlook remains overbought for the currency after its recent stellar rise , while the short-term MACD is neutral. risks are still downward and a deeper correction is expected in the coming period. Support levels are below $ 6,700 to $ 6,000, $ 5,800 and $ 5,400.

BTC / USD, 4 Hour Chart Analysis

NEO and IOTA are leading altcoins with double-digit losses, but Litecoin, Monero, Ripple and Ethereum are also significantly weaker, with only Ethereum Classic and Dash retaining marginal gains after a positive start of the session.

Mass selling has reduced the total value of the market to below $ 200 billion, and the expected volatility in BTC could cause more turmoil. That said, the long-term picture looks encouraging for the main altcoins, so let's see how the short-term charts come before the weekend.


ETH / USD, graph analysis in 4 hours

The Ethereum fell back into the previous dominant trading range in the last few hours after yesterday's breakup, while the general decline pushed the coin back. The long-term uptrend remains intact despite the recent relative weakness of the currency, and we still expect the trend to pick up, with targets at $ 350 and $ 380.

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LTC / USD, Daily Graphical Analysis

Litecoin entered a short-term correction after a bullish period, and the coin climbed below $ 60 today after hitting $ 67 yesterday. The currency remains bullish on all deadlines and we are waiting for a $ 75 level test in the coming period. Support levels are $ 56 and $ 53, while other targets are ahead at $ 82.50, and close to $ 95.


DASH / USD, 4 hour graphical analysis

Dash reached the $ 350 level early today, but the coin has returned to the $ 330 support / resistance level with the other majors. With the long-term picture still bullish, we expect the move to resume soon, with targets at $ 360 and near the record high of $ 400.


XRP / USD, graph analysis in 4 hours

Ripple failed to follow the rally yesterday with a sharp break above the area around the short-term picture of $ 0.2250 level is back to neutral today. hui. The long-term configuration is still optimistic, but it is possible to act more indirectly on prices before continuing a sustained movement. We still expect a recovery to $ 0.26 and $ 0.30 over the next few weeks, but BTC's correction could lead to currency volatility, with support levels at $ 0.190 and near 0 , $ 18.

Classical Ethereum

ETC / USD, Graphical Analysis at 4 o'clock

Ethereum Classic reached a new high in the short term before falling with the wider market, and it came close to our next target near $ 16 during the move. The coin remains in an uptrend despite the turnaround, with other targets at $ 18 and $ 23, and key support levels at $ 13.50 and below $ 12.50 and $ 11.

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XMR / USD, graph analysis in 4 hours

Monero violated our primary target of almost $ 125 by entering a short-term fix that could result in a new crucial level test of $ 100. That said, we expect a move to the highest all-time near $ 150 in the coming weeks because the room remains one of the biggest altcoins from the investment point of view . Support below $ 100 is still close to $ 80 and $ 68.


NEO / USDT, graph analysis in 4 hours

NEO fell below the $ 30 key level after failing to confirm the escape with a move above $ 34 yesterday. Despite this, the long term is still encouraging and we expect a move towards $ 40 in the coming weeks after the end of the current consolidation. Key support levels are still $ 27 and $ 25, and investors could still add to their positions here.


IOTA / USD, 4 Hour Chart Analysis

IOTA went into a short-term fix after its explosive move at $ 0.60, as we expected, and now tests the key area between $ 0.45 and $ 0.48 again . A move towards $ 0.64 and $ 0.75 is likely over the next few weeks, but volatility is expected to remain high, as BTC will likely correct more.

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