BTC, ETH, LTC and BCH price analysis 31/01/2018

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The cryptocurrency markets record another decline for another consecutive day on Wednesday, as just five of the 100 largest coins and tokens managed to post an advance profit  against the dollar. The Bitcoin price, meanwhile, recovered past $10,000 after yesterday’s report that US regulators had subpoenaed Bitfinex and Tether briefly caused it to dip into four-figure territory.

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And also the bitcoin price recover after the postive news about bitcoin from South Korea, after that South Korea Finance Minister Kim Dong-yeon has reaffirmed that the government will not ban or otherwise “suppress” cryptocurrency in the country, according to a statement reported by Reuters today, Jan. 31.


Image from coinmarketcap 

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Bitcoin :

The bitcoin price remain bearish, and maybe the correction will continue, until some postive new come into the crypto world, if bitcoin break the support line of 9500, the next strong support lines are 9000 USD and 8500 USD, if bitcoin break resistance level of  11000 USD, the next target is 12000 USD, but i am bullish for BTC in the long term .

chart (15)

Picture from coinmarketcap 

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Ethereum :

I have a very bullish vision with regard to Ethereum, 
Once the major area is passed (850) the price reaches a maximum value, then we get a confirmation of the major support area and the climbing will continue,
Although the price fails to make new highs and exceed the 1300 area, I wanted to remind you that the January months always represent months of correction both in the crypto market and in the forex market.
The less favorable news, as well as the events lately, have somewhat stagnated the rise of ETH to the 1500 area, but although the increasingly pronounced appearance of those who sold failed to lower ETh below 850. The rectangular yellow area will be an uncertain and magnificent area between those who will sell and those who will buy.
A burst will create a new wave of optimism on the market and drive the price to the 1500 area.

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The Yellow Average of 55 works perfectly as support and I do not think there is a crack in its inferior areas too soon.
I’m planning Ethereum  in the 2000-2500 area in the coming months, and I expect to see a major price correction, when it will exceed 2000.

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chart (17)

Picture from coinmarketcap 


Litecoin : 

The daily chart of litecoin look bearish, LTC break the support line of 170 USD, and now it’s traded around 160, there is no any risk reward in taking or opening a position on LTC, i don’t advice you to open a position on this crypto currency .

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chart (16)

Picture from coinmarketcap 

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Bitcoin Cash : 

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The biggest chance it will drop below 1400 USD and break this support. If overall sentiment improves, we could also see a breakout on the upside. But 80% chance it will drop .

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from 1400 USD to 1600 USD is a good buy opportunity for Bitcoin cash  .

chart (18)

Picture from coinmarketcap 

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