Topic: 11-17 Price analysis of BTC and altcoins from Chinese Market (Shared by AICoin) (Read 105 times)

BTC:
For a rapid and short-term uptrend, price must find the support at $7,500, to achieve that, it must enter a shocking pattern for bulls to push the price up as there’re needs for short-term chips above $7,500 to be turned over. Breaking below $7,500 indicates that bulls have no intention to push price

up, and price will start a consolidation action and move into the next stage – Testing the support level at $7,000 and completing a longer consolidation. Yet, even it breaks below $7,000, it will be short-lived as funds will be found below $6,800, basically, you can just buy in as you wish at that level. If

price remains above $7,500 and moves into a shocking pattern, however, another rally will be initiated. Therefore, $7,500 can be seen as the target in the short term. 

BCH:
Breaking below $1,000 seems to be within our expectations for BCH. The increasing volumes scared chips out yesterday and created a low level at $850. We suppose price finds a support in the short term, but it’s least likely for BCH price to move above $1,200 right away as market has not been in the

consolidation stage, additionally, bulls haven’t reached an agreement and it seems unreasonable for them to take action in the medium term. We expect the rally won’t be so strong and will die out near $1,200.

LTC:
Finally, LTC breaks above $70, and we can see the profit-taking operations by some chips at present level. Coincidentally, BTC price is also dipping right now. Currently, the overall level of LTC price is lifted, medium-term bullish setup stays intact as LTC will start a soft fork against BTC to hide trading

histories, and we can pick up the chips below $60 gradually.

ETH:
As BTC skyrocketed, it getting more and more difficult for off-market funds to chase it. Other major coins left like ETH are the only ones that may be easily pursued on the market. Medium-term or long positions can be set step by step when price falls below $310.

Original by Bi Laoye, translated and posted by AICoin Jami
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