BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin was unable to hold on above its twenty-day exponential MA and the basis (middle line) of Bollinger Bands and slipped down below after 6 days, breaking through its support levels. It made a negative close today, below the $10.5K support, which is now acting as immediate resistance. The bulls tried to take the price above the $11K mark but failed as BTC made a high exactly at the $11,000 level. The bears pulled down the price and closed it a few points below the $10.5K level at $10,435 on Monday, 21st September 2020. Bulls somehow saved the cryptocurrency from going down further and bought back the low from $10,321 today. If the price escalates from this fall, it will indicate that bulls are accumulating more at lower levels and will attract traders to buy more. But if this doesn't happen, bears will try to sink Bitcoin out of the Bollinger Bands itself, which might attract panic selling by the short-term traders and the price might witness levels below $9K. Bulls highly require to increase more magnitude of its momentum to take the asset back above the $11,000 resistance.
Key points to mark:
Immediate resistance that BTC is facing = $10,500 + $10,585.6 (basis of BB) + $10,801 (20 EMA). If bulls take the price above these levels, BTC will again test $11,000 resistance, followed by $11,239 (50 MA), and then $11,294 (upper BB) + $11,500 before rising towards $12,325 resistance level.
Immediate support that BTC is facing = $10,000. If the price falls below this level, $9877 (lower BB) support will be tested before it declines below $9500 mark.
Indicators
The MACD line has sloped down almost touching the signal line, both below 0 in negative values. RSI has sloped down and is again slipping below its downtrend line, but remains out of the overbought region at 42. If bulls can induce some positive momentum, we can expect RSI to not slip further below and reject its trajectory away from RSI's downtrend, and the MACD line to cross above 0.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum has followed the behavior of Bitcoin and fell below the basis (middle line) of Bollinger Bands and its twenty-day exponential MA. The price could trade above the $365 level for 10 days, but the bears pulled it down below it towards the lower Bollinger Band today. The bulls tried to take the price above $365 but couldn't go anymore above a high of $377.5 level on Monday, 21st September 2020. Bears were trying to take Ether below the lower BB making a close at $340.7 level. The bulls saved the price from going below the lower BB by buying it back a few points above it at $332 today. The fifty-day MA has begun to flatten and the other indicators are sloping down giving some advantage to the bears. They will try to push the price further below if bulls don't increase more strength.
Key points to mark:
Immediate resistance that ETH is facing = $365 + $370.9 (basis of BB) + $375 (20 EMA). If bulls can take the price above these levels, ETH will test $380 + $392 (50 MA), before rising to $410 + $417 (upper BB) resistance level.
Immediate support that ETH is facing = $325 (lower BB) + $316.5. If bears push ETH below these levels, it will test $288.7 before declining to the $253 support level.
Indicators
MACD has begun to decelerate after few accelerations and the MACD line has sloped down crossing below the signal line, both in negative momentum below 0. RSI has sloped down at 41 indicating bulls still have the upper hand. Only if they increase some strength can we expect the RSI and MACD to correct themselves
RIPPLE / U.S. DOLLAR
Price Analysis
Following Bitcoin, Ripple slipped off below its lower support of $0.241 level, but the bulls did not let it go below the lower Bollinger Band. The bulls tried to push the price above the basis (middle line) of Bollinger Bands and its twenty-day exponential MA by making a high of $0.248 on Monday, 21st September 2020. The bears did not let Ripple sustain above it and pulled it down below the lower support, closing the price at $0.231, a few points above the lower Bollinger Band. The bulls bought back the dip from a low of $0.229 today. Only if bulls can increase more strength and overpower the bears that are taking over, can Ripple enter the upper half region of the Bollinger Bands, otherwise might sink below the lower Bollinger Band.
Key points to mark:
Immediate resistance that XRP is facing = $0.241 + $0.246 (basis of BB) + $0.250 (20 EMA). If bulls push XRP above these levels, $0.255 + $0.263 (upper BB) will be tested, followed by $0.272 (50 MA), before rising towards the $0.285 resistance level.
Immediate support that XRP is facing = $0.228 (lower BB). If bears push XRP below this level, it will test $0.200 before declining below $0.190 support.
Indicators
The MACD line has sloped down touching the signal line, both still moving in negative values below 0. RSI has sloped down at 36.6 level, into the overbought region, indicating bears are trying to have the upper hand.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin has fallen out of the symmetrical triangle after consolidating inside it for 2 weeks. The bulls were trying to take the price above the support line of the symmetrical triangle, but couldn't sustain after making a high of $47.7 at it. The bears pulled down Litecoin below the $46 level and closed it at the lower Bollinger Band at $43. The bulls saved the altcoin from sinking below the lower BB by buying the low at $41.6 on Monday, 21st September 2020. As the twenty-day exponential MA and the basis (middle line) of Bollinger Bands including both the bands significantly slope down, bears have the advantage to take the price further down out of the Bollinger Bands region. The lower BB is sloping up, and if bulls can increase more strength and momentum to break the bears, we can expect Litecoin to enter the upper half zone of Bollinger Bands soon.
Key points to mark:
Immediate resistance that LTC is facing = $46 + 48.7 (basis of BB) + $49.6 (20 EMA). If bulls can take the price above these levels, LTC will test $51, followed by $53.9 (upper BB) + $55 (50 MA) before rising to $60.5 resistance level.
Immediate support that LTC is facing = $43.5 (lower BB). If bears push the price below this level, LTC might decline below the $39 support level.
Indicators
MACD has begun to decelerate again after a slight accelerations. The MACD line is moving further into the negative zone below 0 and has crossed back below the signal line. RSI is sloping down into the overbought zone at 33.4 level showing how bears are taking over.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has slipped below the $217.5 level and is trading between the basis (middle line) of Bollinger bands and the lower Bollinger Band. The bulls failed to push the cryptocurrency above the basis line and made a high exactly at it at $228.9 level on Monday, 21st September 2020. The bears pulled the price below the $217.5 mark and BCH closed at $212.6 today. The bulls are not letting the altcoin to slip off below the lower Bollinger Band by buying it back from a low of $207.5 level. As the 20 EMA and the basis of BB including slope down, we need to set our stop loss levels right, to not less than 2% below. But the upsloping lower BB might be a good hope for traders and investors to witness some profits if Bitcoin cash rebounds up.
Key points to mark:
Immediate resistance that BCH is facing: $217.5 + $228.6 (basis of BB) + $235 (20 EMA). If bulls take BCH above these levels, it will face resistance at $247.8 (upper BB), followed by $260 + $265.8 (50 MA) before rising to $280.5 resistance level.
Immediate support that BCH is facing: $209 (lower BB). If bears push BCH below this level, it will test $200 support below which the price might sink further into lower levels.
Indicators
MACD has reduced its acceleration. The MACD line is again sloping down almost touching the signal line, both still moving in negative momentum below 0. RSI has also sloped down at 34, into the overbought area, indicating that bears are back in the game.
