Bitcoin and Altcoins Recovery Could Be Short-Lived

The other day, we saw a strong bearish wave below the USD 9,550 support zone. It unlocked for more losses and BTC price traded below the USD 9,200support The price evaluated the USD 8,800 support and it is currently (08: 30 UTC) remedying higher above USD 9,000
Likewise, most significant altcoins declined greatly below numerous assistances, consisting of ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD evaluated the main USD 192 support zone and it is currently remedying higher above USD198 XRP is also remedying higher, however it might struggle near the USD 0.200 and USD 0.202 levels.

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Bitcoin and Altcoins Recovery Could Be Short-Lived 101 Source: www.tradingview.com.

Bitcoin price

After an effective break below the key USD 9,550 support, bitcoin price extended its decline below the USD 9,200support BTC even surged below USD 9,000 and evaluated the USD 8,800support The price is currently rising and it is trading above USD 9,000 A preliminary resistance on the advantage is near the USD 9,200 and USD 9,250 levels. The main resistance is now forming near USD 9,550 level.
On the disadvantage, the USD 9,000 level is a brief-termsupport The key support is near USD 8,800, below which the price could decline towards USD 8,400

Ethereum price

Ethereum price followed bitcoin and declined greatly below the USD 200support ETH/USD even broke the USD 195 support, however it found a strong support near the USD 192 level. The price is currently recuperating and trading above USD 200.
To move back into a favorable zone, the price need to recover the USD 202 level. The next key resistance might possibly be near the USD 205 and USD 206 levels.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price dived below the USD 240 and USD 230 support levels. BCH evaluated the USD 220 support and it is currentlyrising The price is evaluating the USD 230 level and it appears like it could fix additional higher towards the USD 235 and USD 240 levels. On the disadvantage, the main support zone for the bulls remain near the USD 220 level.
Litecoin also declined greatly and broke the USD 43.20support LTC evaluated the USD 42.00 support zone and it is currently remedyinghigher On the advantage, the price may struggle to move back above the USD 44.50 and USD 45.00 resistance levels. On the other hand, a break below USD 42.00 might potentially lead the price towards USD 40.00
XRP price failed to remain above the USD 195 support zone and even surged below USD 0.192 It evaluated the USD 0.190 support zone and just recently recuperated. The price is now trading above the USD 0.195 level, however it is most likely to struggle near the USD 0.200 and USD 0.202 resistance levels.

Other altcoins market today

In the past couple of hours, a couple of small altcoins rallied more than 10%, consisting of OMG, SOLVE, HC, BCN, FAIRY, STX, DGB, BHT, and ZIL. On the other hand, THETA, STEEM, ZRX, LEND, and FXC declined more than 8%.

In General, bitcoin price is back in a bearish zone below USD 9,550 and USD 9,200 If BTC slides below the main USD 8,800 support, there are possibilities of a strong bearish extension towards USD 8,400 or USD 8,200
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