Bitcoin, IOTA, XRP

Bitcoin (BTC)

Bitcoin (BTC) has gained more downside momentum in the last 12-hours. In this period, it has dropped from a high $3923 to a low of $3631.  In the last one hour, bulls have attempted a pullback, but it has failed. This is an indicator that Bitcoin (BTC) could be headed lower, as it signals an increase in bear power. To go short on Bitcoin (BTC), it would be best to wait for a break below the day’s low of $3629. This would be a signal that bears are fully in control, and hence, confirmation to go short with a target of $3423. This is a key support level on the weekly charts. If it breaks below this level, then Bitcoin (BTC) could possibly test the weekly 200-day MA at $3173. This could be bitcoin (BTC)’s long-term low, and a possible long-term reversal point.

If in the day there is a reversal and Bitcoin (BTC) pushes above the day’s high of $3924, it would an indicator that bulls are back in the market. This would be an indicator to go long with a target of $4092. This is a key resistance point for Bitcoin (BTC) on the 200-day MA.  A break above this could see Bitcoin (BTC) rise to $4254. That’s a key resistance point in the last 3-days.

IOTA (MIOTA)

It’s a red day for the entire crypto market, and IOTA has dropped too. In the last 12-hours, IOTA (MIOTA) has dropped from $0.266 to a low of $0.241. Bulls have attempted a pullback at $0.247 but they are not that strong. This is an indicator that bears are still in control and could be headed lower. If it breaks below the day’s low of $0.241, it would be a trigger to go short with a target of $0.203. This is a long-term support level for IOTA (MIOTA) on the 200-day MA.  This could also possibly be the bottom for IOTA (MIOTA) and a possible reversal point before the beginning of a bull run.

Back to the short-term, if IOTA (MIOTA) makes a pullback and pushes above the day’s high of $0.266, it would be an indicator of short-term bullish sentiment. This would be a trigger to go long with a target of $0.268. That’s a key resistance level for IOTA (MIOTA) on the 200-day MA.

XRP (XRP)

Like the rest of the market, XRP (XRP) has been heavily bearish in the last 12-hours. In this period, it has dropped from a high of $0.348 to a low of $0.324. This is an indicator that bears are heavy in this market. To go short, it would be best to wait for a break below the day’s low of $0.324. Such a position would have a good exit point at $0.211. That’s a weekly support level for XRP (XRP) and a possible long-term support level for XRP (XRP).

However, if in the day XRP (XRP) reverses back above the day’s high of $0.348, it would be an indicator that bulls are back in the market. This would be a trigger to go long with a target of $0.368. That’s a major resistance level for XRP (XRP) in the day and a possible exit point.

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