The cryptocurrencies Bitcoin, Ethereum and Ripple are still weakly positioned and the path to the south seems to continue for a while. Now, however, we can be curious: Bitcoin is directly on its long-term uptrend in the weekly chart. For Bitcoin it is important not to break through this, otherwise we probably see relatively fast rates at 5800 dollars. Of course, the crypto currencies have to struggle with advertising bans thanks to Google and Twitter. However, this exaggerated blistering will also be regulated again.
But what happens with Bitcoin? It currently stands at $7850, but remains weak. The weekly chart shows that Bitcoin is resting on its support and the long-term uptrend. For a recovery, it must not fall below this point. We therefore expect Bitcoin to move sideways today. However, the danger of another slide to $6,800 is quite realistic. A brief look through the upward trend should be permitted.
Things also remain bleak for Ethereum. It shows an even weaker image than Bitcoin. However, it is also currently on the uptrend. We see further potential for setbacks of up to 356 dollars in the medium term due to its weakness. Currently, Ethereum is at $445. We see the possibility of a further decline in the share price to around 399 dollars as a day’s range. Then there should be a stop for further losses.
There’s nothing better to tell about the Ripple front. Ripple cannot escape the downward pressure either and continues to fall. Meanwhile he is also below his support, and at times there is no end in sight. Fundamentally, there is also nothing new to report. Ripple is simply subject to general market uncertainty.