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Bitcoin, Ethereum & Ripple - American Wrap 8/6

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Bitcoin, Ethereum & Ripple - American Wrap 8/6

Bitcoin Technical Analysis: BTC/USD eying up $12,000 after $1.2 billion in Bitcoin left exchanges

According to recent reports, the number of Bitcoin inside exchanges has dropped significantly over the past week. This indicates that investors are bullish on BTC and are willing to hold the digital asset instead of selling it. 

Ethereum Technical Analysis: ETH/USD playing with the $400 level while the market takes a pause

Ethereum has remained relatively flat for the past four days as bulls and bears are fighting for the $400 level. The 2020-high remains at $415.21 with a support level located at $366.7 in the short-term.

Ripple Technical Analysis: XRP/USD daily bull flag awaiting confirmation to breakout above $0.346

The next resistance level for XRP bulls is $0.32, the high of August 3 and 4, and a psychological level. The last high at $0.325 is also a resistance point and the peak of the bull rally so far. For support, bulls can use $0.29 and the daily 12-EMA at $0.274. 

 

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