BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin is unable to rise above its twenty-day exponential MA and the basis (middle line) of Bollinger Bands. The bears pulled the price below $10,500 and made a negative close today, which is now acting as immediate resistance. The bulls tried to take the price above it making a high of $10,555 level. The bears pulled down the price and closed it at $10,263 on Wednesday, 23rd September 2020. Bulls somehow saved the cryptocurrency from going down further and bought back the low from $10,152 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 small traders and the price might witness levels below $9K. Bulls highly require to increase more magnitude of its momentum to take the asset back into the upper half of Bollinger Bands.
Key points to mark:
Immediate resistance that BTC is facing: $10,500 + $10,547 (basis of BB) + $10,728 (20 EMA). If bulls take the price above these levels, BTC will again test $11,000 resistance, followed by $11,136 (upper BB) + $11,207 (50 MA), and then $11,500 before rising towards $12,325 resistance level.
Immediate support that BTC is facing: $10,000. If the price falls below this level, $9958 (lower BB) support will be tested before it declines below $9500 mark.
Indicators
MACD is reducing its acceleration. The MACD line has sloped down touching the signal line, both below 0 in negative values. RSI has sloped down and is again slipping below its down-trend line into the overbought region at 39.9. If bulls can induce some positive momentum, we can expect RSI to not slip further below and reject its trajectory away, and the MACD line to cross above 0.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum continued to follow the behaviour of Bitcoin and went further below the basis (middle line) of Bollinger Bands and its twenty-day exponential MA. The bulls failed to take the price above $365 and made a high of $345 level on Wednesday, 23rd September 2020. Bears are trying to take Ether below the lower BB making a close below it at $321. The bulls saved the price from going further below the lower BB by buying it back a few points below the $316.5 level at $313.8 today. The fifty-day MA is sloping down now including the other indicators giving an 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: $324 (lower BB) + $363 (basis of BB) + $367 (20 EMA). If bulls can take the price above these levels, ETH will test $380 + $389.8 (50 MA), before rising to $402 (upper BB) + $410 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 $253 support level.
Indicators
MACD has increased its deceleration and the MACD line has sloped down below the signal line, both in negative momentum below 0. RSI has entered the overbought zone and is sloping down at 37 indicating bears are trying to grab the upper hand.
RIPPLE / U.S. DOLLAR
Price Analysis
Following Bitcoin, bears have taken Ripple below its lower Bollinger Band. The bulls failed to push the price above the lower support only making a high of $0.235 on Wednesday, 23rd September 2020. The bears did not let Ripple sustain in the lower half region of Bollinger Bands and pulled it down below it, closing the price negatively at $0.221. The bulls bought back the dip from a low of $0.220 today. Only if bulls can increase more strength and overpower the bears that are taking over, can Ripple rise above the $0.241 important support? Traders and investors are alert about their stop-loss levels.
Key points to mark:
Immediate resistance that XRP is facing: $0.227 (lower BB) + $0.241 + $0.242 (basis of BB) + $0.246 (20 EMA). If bulls push XRP above these levels, $0.255 + $0.258 (upper BB) will be tested, followed by $0.269 (50 MA), before rising towards the $0.285 resistance level.
Immediate support that XRP is facing: $0.200. If bears push XRP below this level, it will decline below to test $0.190 support.
Indicators
MACD has increased its deceleration a lot. The MACD line is sloping down below the signal line, both still moving in negative values below 0. RSI has sloped down at 33.5 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 Bollinger Bands region. The bulls could not take the price above the $46 level and the support line of the symmetrical triangle and made a high of $45. The bears pulled down Litecoin below the lower Bollinger Band and closed it at $43. The bulls saved the altcoin from sinking further below by buying the low at $42 on Wednesday, 23rd September 2020. As the twenty-day exponential MA and the basis (middle line) of Bollinger Bands continue sloping down, bears have the advantage to take the price further down towards the critical support of $39. The upper BB is sloping up, and if bulls can increase more strength and momentum to break the bears, we can expect Litecoin to enter back inside the symmetrical triangle and the upper half zone of Bollinger Bands.
Key points to mark:
Immediate resistance that LTC is facing: $46 + 47.8 (basis of BB) + $48.5 (20 EMA). If bulls can take the price above these levels, LTC will test $51.8 (upper BB), followed by $54.6 (50 MA) before rising to $60.5 resistance level.
Immediate support that LTC is facing: $39. If bears push the price below this level, LTC might decline below the $32 support level.
Indicators
MACD has increased its deceleration. The MACD line is moving further into the negative zone below 0 along with the signal line. RSI is sloping down into the overbought zone at 34.7 level showing how bears are taking over.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has slipped below the $217.5 level including the lower Bollinger Band as well. The bulls tried to push the cryptocurrency above the $217.5 level making a high few points above it at $219.8 level on Wednesday, 23rd September 2020, but could not sustain. The bears pulled the price below the $217.5 mark and BCH closed at $207.8 today. The bulls are not letting the altcoin to slip off below the crucial support of $39 by buying it back from a low of $203 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 and upper 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: $212.7 (lower BB) + $217.5. If bulls take BCH above these levels, it will face resistance at $225.9 (basis of BB) + $231 (20 EMA), followed by $239 (upper BB) + $246, and then $260 + $262.6 (50 MA) before rising to $280.5 resistance level.
Immediate support that BCH is facing: $200. If bears push BCH below this critical level, it will decline to test $140 level.
Indicators
MACD has reduced its acceleration a lot. The MACD line and the signal line are overlapping each other, both still moving in negative momentum below 0. RSI has also sloped down at 34.7, into the overbought area, indicating that bears are not ready to give up so easily.
