Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Litecoin – American Wrap 20 April


Bitcoin Price Analysis: The price of one Bitcoin is equal to 1,500 barrels of oil today

Bitcoin has been pushing lower after breaking the wedge pattern marked in red on the hourly chart below. It seems that upside momentum has been capped recently despite the halving event coming up in May. 

Even though the price has moved lower it could be worse. People usually associate volatility with cryptocurrencies but today oil traders have seen crypto-like moves in one of the worlds most traded commodities. In fact today you could buy 1,500 barrels of oil for the value of 1 bitcoin!

Ethereum Price Analysis: ETH/USD has a big bull opportunity if $185-190 is broken down

Ethereum price is trading in the red by 0.55% in the session on Monday. 

ETH/USD moving within consolidation mode, with market commitment nearing.

Heavy supply should be noted at the range of $180-190, capping upside. 

Litecoin Price Analysis: LTC/USD vulnerabilities tilted to the downside as price trades under bear flag

Litecoin price is trading in negative territory by 0.95% in the session on Monday. 

LTC/USD pressure is back on to the downside, after the exponential gains on Thursday. 

The next major area of support will be eyed back down at the $40 mark.

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