Top 3 Price Forecast Bitcoin, Ripple, Ethereum: The Sell-Off will continue as long as the Bulls are hungry, a Black Friday for the brave

• The BTC/USD goes to minimums of November-17 and hits the entire Crypto board.
• The ETH/USD returns to levels seen in August-17 and opens the bargain season.
• The XRP/USD continues its insulting strength and capitalizes on positivism.

 

The first analysis of the week and again the Crypto board turns red continuing what began on Thursday. The indicators make it clear that the Sell-off had not finished.

The loss of the annual lows in Bitcoin and Ethereum is confirmed. The BTC/USD is going to lows not seen since November 2017, while the ETH/USD is going to levels of August of the same year.

For its part, Ripple remains in a much better situation. It continues to be in a comfortable range, although today it is suffering significant losses around -8.5%.

If I leave aside the loud noise that surrounds the reasons for today's downturns, the reason for today's slumps is merely the continuation of the movements that occurred at the end of last week. The market needed a jolt that would allow it to reconfigure its lethargic technical structure, and in the process achieve better entry prices.

If we look at weekend movements, those assets that accumulate more buy recommendations have seen proper amounts of fresh money coming in.

After the pause, it is time to continue with the second phase of the Sell-off, look for new minimums and inject panic into the market. It is evident that in a much more professionalized market than before, old school strategies would be applied. When strong hands want to enter an asset, the first thing they do is get reasonable prices. That's what they're doing. I hope they're real professionals, good stuff, and don't kill any of the Golden Calves.

As George Clooney says in "Money Monster," now is the time to have what it takes. If you have come this far without respecting Stops because you are convinced, do not shake your hands.


Do you want to know more about my technical setup?

 

BTC/USD  Daily Range.

The BTC/USD in the daily range is currently at the price level of $5,239, very close to the recent low of $5,198.30. The chances of the BTC/USD hitting this low are 99% as the indicators are still in the impulsive phase.

The first downward target is at the price level of $4,929 (price congestion support). This level coincides with the consolidation zone at the end of October 2017. It does not appear that this will be the consolidation zone of the current bearish movement in this case. The second downward target is at the price level of $4,450 (price congestion support). This congestion zone began to form in August 2017 and extended its influence until the end of September. Below this price level, the BTC/USD would not find a new strong support level up to $3,676.76 (price congestion support).

Above the current price, the BTC/USD has two clear objectives if it wants to survive this critical moment. The first level to take into account is the trend line that is the extension of the bearish channel that governs the price since March. This trendline now passes through the price level of $5,439 (trendline and price congestion resistance). If the BTC/USD manages to close above this price level, the second bullish target is $5,950 (baseline of the down channel and resistance to price congestion).
Personally, looking at the structure of the indicators, I don't think this is going to happen.



The MACD in the daily range shows us a fully open profile with a downward inclination that does not foresee the cessation of falls in at least two or three periods. This is Bearish continuity.

The DMI in the daily range shows us that the bears with absolute control of the situation. They move well above the ADX, so there is still a long way to go before starting end-of-trend patterns. On the other side, the bulls retreat strongly but take advantage of any bullish reaction to increase their activity. They remain above the levels seen in the falls in August.


XRP/USD Daily Range

The XRP/USD is currently trading at the $0.476 price level. This price level leaves the XRP/USD in the same scenario it was moving in before the onset of the downward storm. During the weekend, the XRP/USD has received substantial inflows of money, and that is helping it maintain the rate today.

Below the current price, the first support is at the current price level $0.478 (bullish trend line from April lows. The second support is at the price level of $0.471 (50-period Exponential Moving Average). The third support level is at $0.444 (price congestion support).

We must bear in mind that the technical structure of the XRP/USD is different from that of the BTC/USD or the ETH/USD: much more robust and potentially bullish.

Above the current price, the first resistance is at the price level of $0.483 (100 periods Simple Moving Average). The second resistance level is at $0.505 (price congestion resistance). If the XRP/USD conquers this price level, it would be above all its averages, and its upside potential would increase. The third resistance level at $0.55 (price congestion resistance) would open the door to a possibly considerable upward movement.




The MACD on the daily chart shows an indicator just above the neutral level. The lines are very flattened and cut slightly downwards. A bearish acceleration is possible if the lines move towards the negative side.

The DMI in the daily range shows a slight advantage for bears over bulls. The bullish ones tried over the weekend to get above recent prices. Both remain above the 20 level. The ADX drops and moves away from the 20 level which indicates the existence of trend force. This structure may be favorable as it shows little interest on the part of the XRP/USD to follow their fellow analysts in the downturns.

 

ETH/USD Daily Range.

The ETH/USD trades at the $155.93 price level. The structural damage of the fall is very significant. The current price level coincides with a price congestion support. Maintaining this level of support is very important.

Below the current level, the first support a little below the current price level by $155 (price congestion support). If the ETH/USD loses this price level, the next major support level at the $125 price level (price congestion support). In the extreme case that this support level cannot sustain the ETH/USD price either, the third support level is at the $100 price level (price congestion support and base of the large bear channel containing the price since March).

Above the current price, the first resistance is at the price level of $170 (price congestion resistance). The second resistance level is at $180.30 (price congestion resistance). The third resistance level is a few dollars higher at $190 (price congestion resistance).

The indicators in the daily range also do not show many possibilities of a move towards these levels.



The MACD on the daily chart shows a very open and relatively inclined downward direction for this pair. There is a small chance that it would turn up from here, but as we will see in the DMI analysis, they are remote and externally driven possibilities.

The DMI in daily range shows us the bears with absolute control of the situation. It moves above the 40 level and a long way from the ADX line. The bulls are withdrawn but surprisingly do not mark a minimum. For example, on August 13th, it went to much lower levels. The action of the buyers is divergent with the price.

Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

 

---