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Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) & Zcash (ZEC) price analysis – 7th July

Bitcoin (BTC)

On the weekly (long term) charts, Bitcoin (BTC) is bullish and is just getting started, having crossed key resistance on the weekly 100-day MA. However, more short-term (intra-day), it can go either way.  Bitcoin has just broken out of a range between $11, 333 and $11,429. This is an indicator that bullish momentum is on the rise. However, to go long in the short-term, it would be best to wait for a clear break above the intra-day high of $12,079. Such a position could have a possible exit point at $12,800. This is Bitcoin’s high on the day chart, and a possible exit point in the next 24-hours. On the other hand, if Bitcoin (BTC) breaches the intra-day low of $10,688, it would be an indicator of increased bearish sentiment.  This could be a signal to go short with a target of $9,978. This is Bitcoin’s reversal point on the day chart, and possible support level in the day.

Litecoin (LTC)

Like Bitcoin (BTC), Litecoin (LTC) is long-term bullish, and has established a clear uptrend on the weekly chart. However, in the short-term, it offers profitable opportunities both ways. It is trading in a range, with key resistance on the 200-day MA at $122.02. If it pushes this resistance and extends those gains past the day’s reversal point at $126.08, it would be a signal to go long, with a target of $143.19. This is a key reversal point in the day chart, and a possible exit point from a short-term long position. On the other hand, if Litecoin breaks out to the downside, and pushes below the lower range limit at $116.95, it would be a signal that bears are in control in the short-term. In such a case, a short position would be more ideal with a target of $114.45. This is a key reversal point in the day, and possible support in the next 24-hours.

Ethereum (ETH)

In the day, Ethereum (ETH) is trading in a range, with key resistance at $296.98 on the 200-day MA. In the event that Ethereum (ETH) pushes past this resistance and extends above the day’s high at $302.40, it would be an indicator that bulls are in control. This would be a signal to go long with a target of $332.19. This is Ethereum (ETH)’s 24-hour reversal point in the day-chart and a possible resistance level in the next 24-hours. However, if Ethereum breaks out downwards and breaches the lower range limit at $280.16, it would be a signal that bears in are in control in the short-term. A short position at this price could be more ideal, with a possible exit point at $276.68. This is a key reversal point in the day, and a possible exit point from a short-term short position.

Zcash (ZEC)

Zcash (ZEC) has been relatively bullish in the day. However, it has hit resistance on the 200-day MA at $104.92 and is lagging there.  If bullish momentum sustains, and it pushes above the day’s high at $106.88, it would be a signal to go long with a possible exit point at $115.79. This is a key resistance point in the day-chart and a possible reversal area. On the other hand, if Zcash (ZEC) goes bearish and breaks intra-day support at $98.67, it would be a signal to go short, with a possible exit point of $91.49. This is a major reversal point, and a possible support level in the day.

 

Liam Albert Administrator
Liam is a great fan of crypto.
NOTE: xrpnewsonline bears no responsibility for any losses incurred on the reliance on the information in these buy/sell signals. Please be informed about the risks and costs of trading in financial markets. Cryptocurrencies are an extremely risky investment.
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Liam Albert Administrator
Liam is a great fan of crypto.
NOTE: xrpnewsonline bears no responsibility for any losses incurred on the reliance on the information in these buy/sell signals. Please be informed about the risks and costs of trading in financial markets. Cryptocurrencies are an extremely risky investment.
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