Technical analyst Mert Bozkurt evaluated the technical outlook for leading cryptocurrencies Bitcoin, Ethereum, Litecoin and XRP for Uzmancoin.

Bitcoin: BTC / USD

The mismatch in our indicators is remarkable in the 4-hour period. Our region, which reacts as strong resistance, has been tested as a support 2 times after being broken and has received its approval as a support zone. The rise may continue as long as there is no candle close below the 10500 level. This level needs to be watched carefully to start the downtrend. There is Harmonic BAT pattern formation in the hourly time period. If our price movement rises to the level of 11938, sales pressure may come from this level.

Support levels: 11300 and 11000
Resistance levels: 11938 and 12100

Ethereum: ETH / USD

In our chart, which broke the last peak level and closed the candle above, an upward trend started in the medium term. The same level was tested with a hard fall candle and got its approval as a support level. Our region working as a resistor can now work as a support level by converting a Resistance-Support. If the support level is tested again, the formation of a rectangular formation can begin, and it is necessary to watch it carefully. If our region mentioned in Red is broken and the candle closes above, it confirms the uptrend and it can be seen up to $ 465. Formation formation should be expected if it moves in a horizontal course.

Support levels: 377 and 365
Resistance levels: 408 and 425

Litecoin: LTC / USD

Our Rectangular Formation, which we follow daily, took its target. The mismatch in our indicators should be carefully monitored on our 4-hour chart. Reverse flag formation is completed on our hourly chart and sales pressure may come with a downward break and a candle closing below. At the same time, there is Harmonic BAT pattern formation in our hourly chart. If the rise continues, sales pressure may come after completing Pattern formation.

Support levels: 57 and 55
Resistance levels: 61 and 63.50

Ripple: XRP / USD

It has completed the Harmonic BAT Pattern formation that we followed in the diary. After completing the pattern formation, it declined with hard sell, but our employee level, which was previously resistance, reacted as the support level. In our 4-hour graph, our graph, which is in the formation of a symmetrical triangle formation, may continue its rise with the hard breaking of the triangle in the direction of rising and the closing of the candle on it. However, it would be more logical to expect a correction movement from these levels.

Support levels: 0.29000 and 0.27000
Resistance levels: 0.31000 and 0.32000

(Excerpt) Read more Here | 2020-08-06 05:58:00
Image credit: source


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