BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin is trading inside an ascending triangle pattern back formed on the one-day chart below. The bulls positively closed the price just above the twenty-day exponential MA and the basis (middle line) of Bollinger Bands, not letting Bitcoin slip to the lower half of it. Bitcoin made a high of $12025 and positively closed the price at $11,778 on Wednesday, 19th August 2020. They saved the price from going below the $11.5K mark and picked it up just above it at a low of $11,608.6 yesterday. As all, the twenty-day exponential MA, Bollinger Bands including the basis, and the fifty-day MA still continue sloping upwards trying to give bullish results, bulls need to gain back some more momentum and increase strength to push the asset above the ascending triangle soon. Traders and investors are filling in more at the dips and waiting for the asset to escalate above the $12325 level.
Key points to mark:
Immediate resistance that BTC faces: $12,100 (ascending triangle resistance) + $12,256.7 (upper BB) + $12,325. If bulls take the price above these levels, it will test $13,174 and $13,764 resistance before rising to $14,580 level.
Immediate support that BTC faces: $11,668.9 (basis of BB) + $11,600 (ascending triangle support). If the price falls below these levels, it will test $11000, followed by $10500 and $10397 (50 MA) support levels.
Indicators
MACD has increased its deceleration. The MACD line is sloping down below the signal line, both above the 0 level in positive values. RSI has dropped significantly and is downsloping at 58 level with the commanding bulls.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum after beating the $380 - $410 resistance zone has made a lower high between the $410 - $437 zone. Bulls now require more strength to push the price above the $437 mark. The bulls could make a high of $427 and closed the price just below the $410 resistance level at $408.6 on Wednesday, 19th August 2020. The bulls did not allow Ether to slip below its twenty-day exponential MA and bought the low of $396 yesterday. The indicators including lower Bollinger Band, basis (middle line) of BB, and the fifty-day MA are still nicely sloping up. Traders and investors who smartly invested in the Ethereum project, are hoping that the bulls soon increase their momentum to not let the asset fall into the lower half of the Bollinger Bands region and witness further higher levels.
Key points to mark:
Immediate resistance that ETH faces: $437 + $447 (upper BB). If bulls can take the price above these levels, ETH will test $458 level before rallying to the $470 - $485 zone, followed by a $515 upper resistance level.
Immediate support that ETH faces: $410. If bears push ETH below it, it will test $399.9 (basis of BB) + $392 (20 EMA), followed by $380 and $365 support.
Indicators
MACD has increased its deceleration and the MACD line sloped downwards below the signal line, both above the 0 level. RSI is sloping down at 61.5 with a heavy price correction.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple after crossing above the $0.309 and the $0.318 resistance levels, could not hold back and was pulled down by the bears below $0.309 resistance. The bears tried to take over and closed the price in the lower half of the Bollinger Band region. The bulls could make a high of $0.306 and closed the price just below the basis (middle line) of Bollinger Bands at $0.290 on Wednesday, 19th August 2020. Bulls did not let the asset slip below a low of $0.279 yesterday. Traders and investors have taken advantage of this lower dip and filled their bags with more Ripples. Bulls need to increase more strength and take Ripple above the basis of BB to its upper half.
Key points to mark:
Immediate resistance that XRP faces: $0.309. If bulls push XRP above this level, $0.318 (upper BB) will be tested, followed by a minor resistance at $0.327, and then $0.346 before rallying up to $0.408 level.
Immediate support that XRP faces: $0.285 (20 EMA). If bears push XRP below this level, it will test the $0.271 (lower BB) before declining to $0.255 and $0.241 lower support levels.
Indicators
MACD has increased its deceleration with the MACD line sloping downwards below the signal line, both above the 0 level. RSI significantly slopes down to $56.8 indicating that bulls still have the upper hand.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin has made a lower high and went below the upper Bollinger Bands breaking below the $64 resistance level. The bears seem to battle with some strong force by pulling down the price back inside the upper half of the Bollinger Bands zone. The bulls tried to take Litecoin above the upper BB making a high of $67 but closing the price below it and $64 mark at $62 on Wednesday, 19th August 2020. Bulls picked up the dip and did not let the altcoin sink below its twenty-day exponential MA making a low of $58.6 yesterday. Traders and investors take advantage of this event by collecting more at lower levels. The bulls need to increase some strength to take Litecoin above the Bollinger Bands to the upside.
Key points to mark:
Immediate resistance that LTC faces: $72. If bulls can take the price above this level, LTC will test $76, followed by $80 and $83 at the higher resistance levels.
Immediate support that LTC faces: $60.5. If bears take over and push the price below it, LTC will test $59 (basis of BB) + $58.5 (20 EMA), followed by $52.5 (lower BB) + $50.8 (50 MA) before declining to $46 support level.
Indicators
MACD has reduced its acceleration pretty much. The MACD line has begun to slope down almost trying to touch the signal line, both above 0 level. RSI is sloping in the downward direction at 59 level indicating bulls have the upper hand.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash made a lower high and slipped into the lower half of the Bollinger Bands region. The bears closed the price below the twenty-day exponential MA and luckily the bulls saved Bitcoin cash from falling below the symmetrical triangle support. The bulls could make a high of $308.6 and closed the price below the basis of BB just below its 20 EMA at $292 on Wednesday, 19th August 2020. The bulls saved the cryptocurrency from slipping below the $280 mark and bought the dip just above it making a low of $281 yesterday. Traders and investors are filling their bags with more BCH taking advantage of this event by buying all the lows.
Key points to mark:
Immediate resistance that BCH faces: $319 (upper BB) + $325 (symmetrical triangle resistance) + $330. If bulls can take BCH above these levels, it will first face resistance at $353, followed by $378 before rallying towards the $410 resistance level.
Immediate support that BCH faces: $290 (symmetrical triangle support) + $279 (lower BB). If bears push BCH below these levels, it will go down to test $263 (50 MA), before declining to $246 support level.
Indicators
MACD has increased its deceleration. The MACD line is sloping down below the signal line, above the 0 level. RSI has completely sloped down at 51.9 level indicating bulls still have the upper hand but need to buck up a little.
