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Bitcoin, Ripple & Litecoin - American Wrap: 12/11/2019

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Bitcoin, Ripple & Litecoin - American Wrap: 12/11/2019

Bitcoin price analysis: BTC/USD $7000-6800 will be a big test

  • The Bitcoin price on Wednesday is trading in the red by some 0.80%, as some near-term selling momentum picks up pace in the second half of the session.
  • Market bears have resumed pressure to the downside, following a brief period of stabilization. The price has breached a bearish pennant structure via the daily view and is further extending to the downside. 

Ripple Technical Analysis: XRP/USD finds support at the hourly trendline

  • Ripple has consolidated on the hourly chart after dropping from 0.2338 to 0.2197.
  • The market has made a few higher lows but now looks to be testing lower levels.
  • 0.22 is the psychological support zone and if taken out, could indicate lower levels are on the cards.

Litecoin Technical Analysis: LTC/USD lower highs spells danger

  • Litecoin price is trading in the red in the session by some 1.20%. 
  • LTC/USD has extended to the downside, after breaking out of a bearish pennant pattern, inviting another round of selling. 
  • The price is running towards its third consecutive session in the red. 

Image Sourced from Pixabay

 

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