You should look for short options in a clear break of 5k. Currently BTC is falling to lower levels of $ 5100. The EMA 200 crossover is imminent of a deep correction for BTC, and this could lead to key support levels of $ 4900 that could trigger an assessment up to the $ 4365 price as the maximum inflection point before making its next bull run.
The price fell below Bitfinex Support as we expected. The confirmation is a rest and rejection of the S1 line that is now a resistance. Bitfinex is slightly more bearish, now with a break in the structure of the market. On the other hand, Bitmex is in a flat consolidation that does not give directional bias.
This could be considered as a zone of recharging positions for a market depth of the large whales, and this could then boost BTC to levels above $ 5800, its key resistance; as suggested by the Fibonacci retracements.
The current timeline until May 1, 2019 will be crucial to determine the future of BTC in the short and medium term. If a catalyst emerges in the next few days the previous scenario could easily be accelerated in a couple of weeks as we have projected in our previous post.
This is a bizarre situation because the shorts will be under the pressure of funding and the price will increase as people get rid of the USDT by Bitcoin.
Ethereum (ETH/USD) Price Forecast
Vitalik Buterin’s cryptocurrency is at the threshold of SMA 30 with which the bulls try to push shorter positions to try to get out of the triangular pattern formed in recent weeks for Ethereum that allows an improvement in their prices above the support level key of the $ 164.
If ETH manages to position itself below the lower limit of the projected triangle, as suggested by its last candle, we could see the cryptocurrency fall to levels of S1, around $ 141.
However the pressure between bulls and bears is more than evident that the two previous candles are in green with less force forming a small bull run, and the Aroon Uptrend indicator in average good levels, but that in view of what happens with BTC around of the ecosystem, both positions are possible for ETH in the coming days: bullish or bearish. This is seen in the two Aroon indicators traveling parallel to the bottom of the graph.
For now, using Stop Loss by levels of $ 150 and a profit around short positions of $ 170 would not be unreasonable to operate with ETH.
Ripple (XRP/USD) Price Forecast
Ripple’s XRP seems to be falling more and more in depth, as its chart currently suggests. A large descending channel and three similar patterns in recent months with increasingly lower maximums is the most striking of this token.
Its current price has fallen to levels of S1 by the order of $ 0.30 and XRP has broken below the average 30-day moving average, jeopardizing its possibility of short-term recovery.
However, it is important to note that the XRP token on a previous occasion has drawn this repetitive cycle before re-boosting its price up by 108%, as we can see in this chart:
Therefore, if the pattern is met and XRP manages to avoid the pressure of the bears, we could see their prices recover to levels above R1 ($ 0.56) that would show the possibility of excellent profit for the token and the end of a prolonged crypto winter in relation to the rest of the altcoins.
For now, it seems to be the ideal time for XRP to enter before its price regenerates over time.
Bitcoin Cash (BCH/USD) Price Forecast
After important rises in its value to levels close to its historical maximum R1 after the November 2018 fork, BCH has begun to fall making a spin ball in retreat, which has led it to break below the values of 30 SMA and 50 days, generating even a possible bearish cross for the first fortnight of May that foresees greater depth in its prices at levels of S1 ($ 171).
The bullish pattern achieved by BCH on March 16, 2019 that allowed an upward rally of up to 155% in its prices, seems to have come to an end and a corrective moment in depth is developing at this time. Fibonacci reads it and foresees it.
Now it remains to wait if BCH will be really strong enough to avoid falling to March levels and to continue growing with more pause, therefore an important entry point for investors who were looking for an opportunity to enter the ecosystem.
Its current price of $ 235 is likely to find a strong resistance at the fibonacci level of $ 222. There we must carefully observe the behavior of BCH, because a change in its direction forecasts a medium-term booster in its prices of at-least 50%. Not bad for those who wishes to enter with force.
Litecoin (LTCUSD) Price Forecast
The silver cryptocurrency also presents a strong correction of its prices, after an upward trend achieved at the beginning of the month, with a key support now that is $ 60.90 which seems to direct without any problem.
The 100-day moving average for LTC allows us to project a key cap for the current path of the cryptocurrency at levels of $ 60.90, which is also 0.61% of the projected fibonacci level parallel to its ascending channel that is interrupted at this time for the progressive negative slope that we observe for LTC.
The depth of its fall will depend to a large extent on whether LTC manages to leave the zone of descent of the one planned for its key support, which allows recovery of its prices by at least 25% of its current fall.
If LTC manages to survive this ferocious attack of bears, we could again see the cryptocurrency in bullish values close to $ 100 per unit, creating new higher lows.
EOS (EOSUSD) Price Forecast
Dan Larimer has just published an algorithm to generate more liquidity in the stablecoins and this seems to have an immediate effect on the EOS economy.
The cryptocurrency has made a spin ball softer than its immediate competitor, LTC. Given the good receptiveness in the community to the activation of one of the most influential minds in the crypto ecosystem on Github, EOS has managed to keep its average 60-day moving average at bay at a key support at the $ 4.58 level.
If it manages to position itself above this level and avoid falling further downfall to levels of S1, the cryptocurrency could resurface at previous levels of R1 ($ 5.25) in the short term, continuing the projected Elliot wave.
Aroon Downtrend already shows symptoms of this bearish change in the cryptocurrency, by going to the bottom of the graph and its counterpart giving signs of life at the bottom of it.
For now, it remains to be expected if EOS is able to overcome the current bearish scenario of the ecosystem and pass its moving average to EMA 50 levels that will allow it to re-boost its level above five dollars per currency.
Binance Coin (BNBUSD) Price Forecast
The cryptocurrency of CZ has broken all the predicted schemes for the altcoins at the beginning of this year. Its growth is sustained and news such as the release of the autonomous chain and its DEX exchange, Binance, did not leave room for bearish sentiment within the token of the largest exchange in the ecosystem.
Its projected upstream channel is still strong and even BNB does not break the 30-day moving average level (EMA 30). Although it has a corrective pattern, it is one of the weakest in the ecosystem and everything seems to indicate that it will continue to grow steadily in its price, as projected by SAR Parabólico, which is strongly bullish.
The key support level is within the projected $ 20 limit of EMA 30 and its maximum resistance remains the short-term goal of $ 25 per token.
Cardano (ADAUSD) Price Forecast
Cardano fulfills to the latter the pattern projected by Elliot Waves in its second wave, with a depth demonstrated until now that promises to reach levels of SMA 100 in the short term.
Its key support level is at point B, and if ADA, as many expect, manages to stay above the 100-day moving average, we could see it push up strongly to levels of R1 ($ 0.10), generating a retrograde effect of his spin ball projected so far.
Stellar (XLMUSD) Price Forecast
The Stellar Lumens have broken the psychological barrier of its average price for 100 days, an EMA 100 that many hoped would not be exceeded. Therefore, its projection has moved to new levels of Elliot Wave in its second wave with a minimum background of S1 @ 0.0083 and a maximum expected resistance at levels of R1 @ $ 0.13.
If the pattern continues as indicated by Elliot Waves and as currently ratified by Aroon leading the fund with both bullish and bearish indicators, it is possible that the cryptocurrency could generate an ideal moment of entry at the end of the week to achieve medium-term benefits of up to 40% in profit.
Tron (TRXUSD) Price Forecast
The cryptocurrency of Justin Sun has made a spin ball like the rest of many altcoins that are directly influenced by the oscillating movement of BTC. As a result, its 100-day moving average was broken and the price now moves toward S1 levels below $ 0.02.
This bearish movement is confirmed by SAR Parabólico and its strong projection on top of the Japanese candles indicates a bad moment for the altcoin.
However, before the constant bombardment of news that revolves around Tron, the asset is in a critical week where the next candles, if they manage to break above the level of SMA 100, we could see a recovery in its prices, as suggested by the change of pattern on Klinger Oscillator at its upper end.