Bitcoin Cash in Reverse<\/p>\n
Bitcoin Cash slipped by 0.24% on Thursday, following Wednesdays 3.33% slide, to end the day at $822.4.<\/p>\n
A range bound start to the day saw Bitcoin Cash pullback to an intraday low $805.5 in the early hours, holding above the first major support level at $803.6, before hitting an intraday high $845 by mid-day.<\/p>\n
The mid-day rally left Bitcoin short of the first major resistance level at $875.1 and more importantly $900 levels and the 23.6% FIB Retracement Level of $930, with the afternoon pullback to $820 levels leaving the extended bearish trend intact.<\/p>\n
At the time of writing, Bitcoin Cash was down 1.61% to $810.8, with a start of the day pullback to an intraday low $806.7 doing the damage early on, while managing to steer clear of the first major support level at $803.6.<\/p>\n
For the day ahead a move through a start of the day $823.9 high to $824 levels would support a run at the first major resistance level at $843.1, while we can expect Bitcoin Cash to face plenty of resistance on attempts to break out from the first major resistance level, which would leave $900 levels out of play for the day.<\/p>\n
Failure to move back through to the mornings high could see Bitcoin Cash pullback later in the day to test the first major support level at $803.6 before any recovery, sub-$800 support levels likely to be left untested through the day.<\/p>\n
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Litecoin slipped by just 0.17% on Thursday, following Wednesdays 3.16% slide, to end the day at $86.13.<\/p>\n
Following Tuesdays late reversal, Litecoin moved from a start of the day intraday low $85.01 to middle of the day intraday high $88.9, before easing back to $86 levels, the moves through the day leaving the major support and resistance levels untested.<\/p>\n
In spite of the relatively range bound day, Litecoin failed to break through to $90 levels to leave the extended bearish trend intact, the 23.6% FIB Retracement Level of $98 some way off.<\/p>\n
At the time of writing, Litecoin was down 0.95% to $85.32, with a early fall to a morning low $84.71 seeing Litecoin hold just above the first major support level a $84.46 before recovering to $85 levels, a start of the day high $86.14 sitting well below the first major resistance level at $88.35 and $90 levels, which remains the key level for Litecoin.<\/p>\n
For the day ahead, a move through to $86.68 would support a run at the first major resistance level at $88.35, though we will expect Litecoin to continue to fall short of $90 levels through the day, with the 23.6% FIB Retracement Level of $98 needed to be reached to begin a bearish trend reversal.<\/p>\n
Failure to move back through to $86 levels later in the day could see Litecoin pullback through to $84 levels to test the days first major support level at $84.46, with the second major support level at 82.79 in play should sentiment not improve, while we will expect Litecoin to continue to hold on to $80 levels by the days end.<\/p>\n
Story Continues<\/p>\n
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Ripples XRP fell by 2.1% on Thursday, following Wednesdays 4.12% slide, to end the day at $0.47793.<\/p>\n
A morning recovery from late Tuesdays sell-off saw Ripples XRP move through to an intraday high $0.49674 in the early afternoon before going into reverse through the remainder of the day, the days high falling short of $0.5 levels and well short of the first major resistance level at $0.5203.<\/p>\n
The afternoon reversal saw Ripples XRP slide to an intraday low $0.4708 before steadying, the days low holding above the first major support level at $0.4648, with the continued failure to take a run at the 23.6% FIB Retracement Level of $0.5528 leaving the extended bearish trend intact.<\/p>\n
At the time of writing, Ripples XRP was down 3.33% to $0.46196 in whats been a bearish start to the day, Ripples XRP falling through the first major support level at $0.4669 to a morning low $0.46016, a start of the day $0.478 falling well short of the first major resistance level at $0.4928.<\/p>\n
For the day ahead, a move through to $0.4818 would support a run at the first major resistance level at $0.4928, while we will expect $0.50 levels and the 23.6% FIB Retracement Level of $0.5528 to remain out of reach for the day.<\/p>\n
Failure to move back through to $0.48 levels could see Ripples XRP pullback to $0.45 levels to test the second major support level at $0.4559 before any recovery to $0.47 levels, the extended bearish trend firmly intact going into the weekend.<\/p>\n
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This article was originally posted on FX Empire<\/p>\n
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Bitcoin Cash, Litecoin and Ripple Daily Analysis 20\/07\/18<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin Cash in Reverse Bitcoin Cash slipped by 0.24% on Thursday, following Wednesdays 3.33% slide, to end the day at $822.4. Continue reading