Cryptocurrencies price prediction: Bitcoin, Ripple & Bitcoin Cash - Asian Wrap 04 Dec
|Bitcoin price prediction: Complete absence of strong support levels could lead to the price plummeting below $7,000
The price of BTC/USD has dropped from $7300.95 to $7,170.75 in the early hours of Wednesday. The daily confluence detector shows a lack of any healthy support levels, indicating that the price may drop even further. Resistance levels lie at $7,260, $7,315 and $7,360.
XRP/USD manages to hold the 0.22 level
Ripple is still recovering from the massive price fall on the higher timeframes. The bulls heavily defended the 0.20 level and now the price has managed to settle at 0.22. The daily candles are still looking bearish but on the hourly chart, the price has moved into the wedge pattern shown below.
BCH/USD bearish flag pattern break threatens return to $190
The cryptocurrency space is forced to deal with acute selling pressure mid-through the week’s trading. The declines' streak has not slowed down since Friday last week. For instance, Bitcoin Cash revisited $210 support from highs around $228. A shallow recovery tested $215 but failed to push towards $220 crucial hurdle.
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