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Cryptocurrency Market Overview - 20 Aug 2021

Source: Wisebitcoin 2021-08-20

 

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  BTCUSD

TECHNICAL VIEW 

 

 

Update:  Again, the pair is trading below 48175. This could a good chance to go short in case the pair shows up bearish evidence below it.  Please follow the main scenario again.  
Main: The chart above shows that the pair is trading below a strong resistance level that is 48175. Therefore, we are bearish as long as the pair is trading below it. Targets: 44000 followed by 42647. On the other hand, if the level of 48175 is broken, the pair might continue going upwards to reach 50000.

 

Important Support and Resistance levels

Resistance Levels Support Levels
52000.00 44000.00
50000.00 42647.00
48175.00 40000.00

Recommended:

We are bearish as long as the pair is trading below 48175.

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

Update: The pair is about reaching the level of 3335 again. Therefore, we will be waiting for bearish evidence to show up then we can go short to target 3000.
Main: The chart above shows that the pair is trading below a strong resistance level that is 3335. Therefore, we are bearish as long as the pair is trading below it. Targets: 3000. On the other hand, if the level of 3335 is broken, the pair might continue going upwards to reach 3500 followed by 3650.

 

Important Support and Resistance levels

Resistance Levels Support Levels
3650.00 3000.00
3500.00 2900.00
3335.00 2750.00

Recommended:

We are bearish as long as the pair is trading below 3335.   

 

 

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  XRPUSDT    

TECHNICAL VIEW 

 

 

Update: On its way to reach 1.2500--The pair has reached the support zone (1.1030 – 1.0675). A pull back is expected to the upside that it might reach 1.2500.
Main: As could be seen on the chart above that the pair is about reaching a strong support zone (1.1030 – 1.0675). Therefore, we will be waiting for the pair to reach this area and in case it shows up bullish evidence above it, we might go long to target 1.2500 followed by 1.3000. This scenario is conditioned by the continuation of trading above 1.0675.

 

Important Support and Resistance levels

Resistance Levels Support Levels
1.3466 1.1030
1.3000 1.0675
1.2500 1.0000

Recommended:

We are bullish as long as the pair is trading above 1.0675.