Cryptocurrency Weekly Forecast: August 12-18, 2019
Cryptocurrency weekly forecast for August 12-18, 2019: Bitcoin, Ripple, Ethereum, Litecoin.
Bitcoin fell $ 400 on Saturday morning with a sudden jump in volume, as happened in the recent past, while altcoins experienced a jump up, which lasted all weekend. Market capitalization fell from $ 304.188 billion to $ 298.422 billion, while bitcoin dominance is currently 68.56%, falling from a peak of 69.71%.
See also bitcoin brokers rating.
BTCUSD Forecast for the week of August 12-18, 2023
Buyers bitcoins are still on the sidelines, because the digital currency has not been able to overcome the barrier 12 times four times 000 dollars last week. On Saturday morning, its price was hit by a sudden spike in sales. The price of bitcoin is approaching the bottom line of the Bollinger Bands, which warns of a further depreciation. MACD is also bearish so far. Currently, the price is held at the support level of $ 11,200. However, the volume at the last red candles was low, so that a quick turn up is possible. But will Bitcoin be able to break through the resistance level of $ 12,000, or will it be so strong that the price will go down again?
Trading recommendations. Intraday traders can make good profit if the price of BTCUSD moves in the side channel 11,200 - 12,000 dollars. For positional traders and investors, we recommend waiting for a break of the level of $ 12,000.
XRPUSD Forecast for the week of August 12-18, 2023
Ripple bounced off its resistance at .305. MACD is bullish and Stochastic is near the overbought zone. The price has not yet broken the minimum of the last bullish candle - 0.29827, so XRP is still bullish.
Trading recommendations. If the price breaks the low of the last bullish candle, then we can expect a reversal of the XRPUSD price with the targets: 0.29583 and 0.28510. If the price continues to rise and breaks the level of 0.305, we recommend buying Ripple with targets of 0.32564 and 0.33667.
The best cryptocurrency exchange - Binance.
ETHUSD forecast for the week of August 12-18, 2023
The price of Ethereum has been growing rapidly over the weekend. Stochastic is now in an overbought zone, although the MACD is still bullish. The price is in the region of the upper Bollinger line and above the uptrend line. Is this a correction or a reversal?
Trading recommendations. Ethereum has been trading in the range of 203.98 - 228.11 for a long time. If the price breaks the trend line, we can expect a rollback of the price to the support level of 203.98. In another case, the price will continue to rise to 224.22 or even to 228.11 and 235.76.
LTCUSD forecast for the week of August 12-18, 2023
This weekend Litecoin jumped with great force. However, the last three bars on H4 brought the price close to support at $ 87 and touched the middle Bollinger line. MACD continues to be bullish, while Stochastic made a bearish intersection in the overbought zone.
Trading recommendations. If the current candlestick turns out to be bearish and breaks the support level of $ 87, then we can talk about a change in the trend to a downtrend with the immediate goal - 73.59. If the breakdown of the level does not occur, then the price of LTCUSD will continue its upward movement to the levels of 99.9 and 105.67. Good luck with your trading!
Read also the article “What is money management and why is it needed?».