Should traders view the current dip in Bitcoin price as a buying opportunity, or can the leading cryptocurrency surprise investors with additional moves to the downside? Let's study the charts to see what signals the market is providing.
Currently, the price has again dipped to the support at $8,777.
A breakout of $197.75 will be a positive move that can carry the price to the overhead resistance zone of $223.999 to $235.70.Conversely, if the bears sink the price below the support at $173.841, it can decline to $161.056-$151.829 support zone.
If the price slips below the 20-day EMA, it can decline to $241.85.
It has again dipped to the 20-day EMA. If the bears sink the price below the moving averages, the altcoin can drop to the critical support at $50. A breakdown of $47.1851 will be a huge negative and will resume the downtrend.
A break below this level will be a huge negative as it can drag the price to $2.4001.Conversely, if the EOS/USD pair bounces off the 20-day EMA and breaks out of the downtrend line, it is likely to pick up momentum and rally to $4.24 and above it to $4.8719.
A breakout of $21.2378 can push the price to $23.5213 and above it to $30. However, if the bears sink the price below the 20-day EMA, a drop to the 50-day SMA is likely.
If the bulls manage to push the price above the channel, a move to $188.69 is likely.
Conversely, if the price breaks down of the channel, a drop to $107 is possible.
If the bears sink the price below $0.0183603, a drop to the 50-day SMA is likely.
Price Analysis 11/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX
Publié le Nov 11, 2019
by Cointele | Publié le Coinage
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