After spending the last three days on the descending trend with steadiness between $9,400 and $9,500 prices, the latest trend signals Bitcoin has yet reached the bottom on the downward pattern. Similarly, altcoins have also returned on the upside trend with the help of Bitcoin’s tempo but some are pushing it harder than BTC, especially the likes of Bitcoin Cash and XRP.
Bitcoin Price Analysis
Since yesterday, Bitcoin recovered from the somewhat ending bear, forming solid support around $9,250 and $9,300 level with signals for a continued bullish trend that would lead it above $10,000.
After breaking the $9,500 resistance level and the 100 simple moving average in the last few hours, analysts averred that Bitcoin has yet initiated another Golden Crossover, an action which last happened in February 2016.
At the opening hours of the European trading session yesterday, Bitcoin opened doors above $9,600 with more added values after maintaining strong balance above $9,500. BTC buoyed the winning streak till today, and the new intraday price of Bitcoin has again broken another resistance – $9,700. Bitcoin is still forming fractal on the rising wedge of the market with a price correction above its previous resistance and 52.6% Fib retracement level upward from the previous $9,100 low to $9,780 high.
At present, Bitcoin has added 2.6% to its value in the last 24 hours to be priced $9,760 against the US Dollar at press time and the fractals are adding up more forces to stay in its present level.
If BTC managed to rise above $9,770 and $9,785 levels in the next four hours, the crypto asset would likely make it forward above $9,800 before the end of the day.
If such move or high drive plays out on or before the end of the day, the next resistance would be close to or above $10,000.
Ripple Intraday Price Analysis
Ripple price has found solid traction above $0.3050 support level as it continues to fire on all cylinders. According to data on the 24 hours chart, XRP has tested $0.319 resistance level several times today, and it is looking up breaking its present barrier for another resistance around $0.3220 level.
At press time, XRP is only a step away from to $0.32 resistance level with a price tag of $0.3196.