Price analysis of Bitcoin (BTC), Litecoin (LTC) and XRP (XRP) – January 16

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Bitcoin, Litecoin, XRP

Bitcoin (BTC)

Bitcoin (BTC) has experienced a deceleration in the last 24 hours and has gone from a maximum of $ 3800 to a minimum of $ 3694.8 on the 100-day MA, which now serves as a support. If this support is valid for the last 12 hours, it is likely that Bitcoin (BTC) may rise to $ 3844, which is the next key resistance level on the 200 day MA. To make a low-risk entry into Bitcoin (BTC), it would be better to wait for a break above the 200-day MA, as a sign of increased bullish pressure. A long position on Bitcoin at this price level would have a good exit point at $ 3924.6 on the 3 day 3 day MA.

However, in the scenario where Bitcoin (BTC) falls below the 100-day MA at $ 3694.8 and pushes below the 55-day MA to $ 3681.6, it would be an indicator of greater downward momentum. This would be a trigger to go short with a target of $ 3292. This is a long-term support level on the 200-day weekly MA. This price level is likely to be the Bitcoin fund, and probably the fund before the start of a longer-term uptrend that could last for the whole year.

Litecoin (LTC)

Litecoin (LTC) has been largely devoid of events in the last 24 hours. During this time, he slowed down to a minimum of $ 31.91, before reaching $ 32.65. This could be an indicator of a possible short-term breakout. To go long on Litecoin (LTC), it would be better to wait for a breakout that pushes it over the 200-day MA at $ 35.18. This would be an indicator of a strong bullish sentiment and a trigger to go long with a target of $ 35.30. This is a key resistance level for Litecoin (LTC) on the MA of 3 days in 3 days.

However, in the scenario where Litecoin (LTC) breaks the 55-day MA at $ 31.96, then it would be an indicator to go short with a goal of $ 30.47. This is a key level of support for Litecoin during the day, which could be a long-term turning point.

XRP (XRP)

Like all other major cryptocurrencies, XRP (XRP) has had a downturn in the last 24 hours. It is now trading at a key support level on the 55-day MA at $ 0.333. In the event that XRP (XRP) gains bullish momentum at this price level and pushes above the 200-day MA to $ 0.349, it would be a signal to go long, with a target of $ 0.408. This is a key resistance level in the 12-day MMA at 12 hours.

However, in the event that the 55-day MA does not hold, it would be a trigger factor to go short with a goal of $ 0.320. This is a 3-day support level for XRP (XRP) and a possible reversal point in the day. If it breaks below this level, XRP (XRP) could test $ 0.268. This is a key level of support for XRP on weekly charts and a possible level of long-term support. It could mark a long-term reversal point for XRP (XRP) from which XRP could retest its 2017 highs at some point within the year or in 2020.

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