Bitcoin Cash – ABC – Strikes a bear trap
Bitcoin Cash ABC plummeted 16.69% on Thursday after a fall of 0.57% on Wednesday to close the day at $ 132.91.
A bullish start to the day saw Bitcoin Cash ABC rise to a maximum of $ 163.25, outperforming the first resistance level at $ 159.98 and the second resistance level at $ 161.97 to compare with 38.2%. of FIB of $ 163 before being subjected to a collapse.
The sell-off saw the Bitcoin Cash ABC slip through the main support levels of the day until a low morning of $ 130.71 before finding support to return to $ 140 levels.
The odds of a rebound were lost in the late afternoon, with Bitcoin Cash ABC slipping to an intraday low of $ 130.00 to keep just above the 62% FIB of $ 129, the sell-off that led to a bearish trend short-term formed in mid-December fluctuation is $ 73.55.
At the time of writing, Bitcoin Cash ABC was down 0.23% to $ 132.60, with Bitcoin Cash ABC recovering from a low day start of $ 131.11 to reach a maximum of $ 132.64 , the main levels of support and resistance of the day not tested at the beginning.
For the day ahead, it would be necessary to go to the $ 140 levels by early afternoon to support a partial recovery of Thursday's loss, although for Bitcoin Cash ABC we will have to exceed $ 140 to bring the first highest level of resistance into play. $ 154.11, the rebound will have to be seen through the broader market.
Failure to run at $ 140 levels could see Bitcoin Cash ABC taking another hit later in the day, a pullback up to levels below $ 130 that could make nervous investors, bringing $ 125 levels into play before any recovery .
Litecoin sees intense red
Litecoin dropped 13.76% on Thursday after a 1.41% fall on Wednesday to close the day at $ 33.27.
Tracing the broader market, an intraday high at the $ 39.25 top was the only bullish move of the day, Litecoin stood at the first major resistance level at $ 39.63 before hitting the contrary.
The sell-off saw Litecoin slip through the main support levels of the day to a low intraday of $ 31.91 before finding support in the last few hours.
At the time of writing, Litecoin was up 0.45% to $ 33.42, with Litecoin rising from a low day start to $ 32.76 to a maximum of $ 33.71 in the morning before slowing down, the main levels of support and resistance of the day not tested at the beginning.
For the day ahead, a move between the highs of the morning up to $ 34 by early afternoon would have supported a shift of up to $ 35, while we expected that Litecoin would collide with a strong resistance to any run at the first major level of resistance of the day at $ 37.71 to limit upward to $ 36 levels on the day.
Failure to qualify for $ 34 in the early afternoon could see Litecoin back in the day, a fall in the morning of $ 32.76 with a chance to see Litecoin slip to $ 31 levels to bring the first major support into play at $ 30.37 before any recovery.
Ripple Sinks
Ripple's XRP dropped 10.63% on Thursday after a 0.46% gain on Wednesday to close the day at $ 0.33603, the reversal that brought XRP of Ripple in red for the new year.
An intraday start of $ 0.405 high yesterday saw Ripple's XRP break through the first resistance level higher at $ 0.3827 and the second resistance level higher at $ 0.3895 to reach $ 0.40 for the first time since 26th December before hitting backwards.
Ripple's XRP went through the day's main support levels to an intraday low of $ 0.32303 before stabilizing to return to $ 0.33 levels by the end of the day.
At the time of writing this article, Ripple's XRP was up 0.79% to $ 0.33868, a low morning of $ 0.33243 and the morning high of $ 0.34012, leaving the main levels of support and resistance of the day not tested at the beginning.
For the next day, a return to the high levels of $ 0.35 by late morning would have supported a run of $ 0.36 to reduce the deficit of the week, following Thursday's crash, with Ripple's XRP needed support from the broader market to avoid overthrowing later in the day.
Failing to move up to $ 0.35, Ripple's XRP could resume Thursday's crash, with a morning crash of $ 0.33243 bringing in $ 0.31 levels before any recovery, the first important support level of the day at $ 0.3044 hardly in play unless another collapse.
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