Bitcoin Support Phone Number Á 1╥855╥500╥0311 Bitcoin Helpline Number

Bitcoin Support Phone Number Á 1╥855╥500╥0311 Bitcoin Helpline Number 

The next trigger is likely to be the U.S. Securities and Exchange Commission (SEC) decision regarding the Bitcoin exchange-traded funds (ETFs). If a new ETF proposal gets rejected again, we might witness another downward move.

On the other hand, if an ETF proposal is approved, the crypto markets might jump higher, signaling the formation of a bottom.

Let’s see which digital currencies are comparatively safe and can thus be bought into.

BTC/USD

Bitcoin (BTC) has been forming a higher low for the past five consecutive days, but on the upside $6,617.5 has been acting as a major roadblock. Currently, the 20-day EMA and the downtrend line have all converged close to $6,617.5, therefore we anticipate a strong resistance at this level.  

Bitcoin Support Phone Number Á 1╥855╥500╥0311 Bitcoin Helpline Number 

If the bulls succeed in sustaining above the overhead resistance, the probability of a move back to $8,566 increases because the failure of a negative pattern is a bullish sign.

Therefore, we suggest buying above $6,750 with the stop loss at $5,900. Please use 50 percent of the usual allocation for this trade. We shall add the remaining 50 percent if the BTC/USD pair sustains above $7,000.

If the bulls fail to break out of $6,617.5, a few more days of consolidation are likely. The virtual currency will become negative only below $5,900. 

Bitcoin Support Phone Number Á 1╥855╥500╥0311 Bitcoin Helpline Number 

ETH/USD

The pullback on Ethereum (ETH) has hit a wall and turned down from $321.1. Currently, the bulls are trying to defend the $280 line.

If the ETH/USD pair sustains above the support zone of $277 – $280, the bulls will make another attempt to break out of $323.33. If successful, the upward move can reach $358, which might act as a stiff resistance.

If the bears break below $277, a retest of the August 14 lows will be on the cards. Both moving averages are sloping down and the RSI is close to the oversold territory, which shows that the sellers still hold the edge. Therefore, we shall wait for the trend to change before suggesting a trade on the pair.

XRP/USD

Ripple broke out of the 20-day EMA on August 17 but could not sustain the higher levels. It dropped back below the moving average on August 18 and has since then been trading below it. It has a slew of resistances until it breaks out of the 50-day SMA.

The pullback of the past few days has corrected the deeply oversold condition of the RSI. If the bulls break out of $0.37390, the XRP/USD pair can extend the pullback to $0.5.

Bitcoin Support Phone Number Á 1╥855╥500╥0311 Bitcoin Helpline Number 

If the bears sink the virtual currency below $0.31214, the decline can extend to $0.29088 and thereafter to the intraday lows of August 14. If we get a reliable buy setup, we might consider suggesting long positions close to the $0.38 mark.

BCH/USD

Bitcoin Cash pulled back into the range on August 17 but faced a strong resistance at the 20-day EMA. Currently, the price has again corrected close to the critical support of $537.8221.

If the bears sink the BCH/USD pair below $537, a retest of the August 14 lows is possible. On the other hand, if the bulls succeed in holding above $537.8221, another attempt to break out of the 20-day EMA is likely.

On the upside, a break out of the 50-day SMA and the downtrend line will indicate that the bearish momentum is waning. The first resistance is in the zone of $880 – $891. If this level is crossed, the next target is $1,200.

We shall wait for the prices to sustain above the downtrend line before recommending any trades.

EOS/USD

The 20-day EMA continues to act as a stiff resistance for EOS. However, it has not given up much ground in the past two days, which is a positive sign. We also like the way the bulls defended the critical support of $3.8723. This shows demand at lower levels.

If the bulls break out of the 20-day EMA, a rally to the 50-day SMA, followed by a move to $9 is probable. Therefore, we propose a long position at $6, with the initial stop loss at $4.8. The traders can raise the stops to break even if the EOS/USD pair struggles to break out of the 50-day SMA.

On the downside, if the bears break below $4.8121, a decline to $4.4036 is possible.