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The Daily Hodl
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Crypto Analyst Spots Bad Sign for Bitcoin Bulls – Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Stellar, EOS, Tron Forecasts

by Daily Hodl Staff
July 22, 2019
in Trading

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As the week kicks off, the crypto market is mostly flashing red with Bitcoin down 1.39% at $10,298.

Ethereum is down 1.6% at $216.81, XRP is down 1.31% at $0.3210 and Litecoin is down 3.66% at $94.12 according to COIN360.

Source: COIN360

Crypto analyst and economist Alex Krüger says traders should welcome Bitcoin’s current pullback, noting that the faster and sharper Bitcoin rises, the higher the danger of an imminent crash.

Bull market corrections are unavoidable and should be welcome. Assets that go too far up too fast tend to crash the hardest. As everyone who speculated with the price of bitcoin during 2017 and 2018 well knows.

— Alex Krüger (@krugermacro) July 16, 2019

In the short term, analyst Josh Rager says BTC is looking primed to dip below $10,000, noting that previous support on the one-hour chart has turned to resistance.

$BTC Breaking down to support zone

On 1 hr chart showing top of support zone now acting as resistance

Not a great sign for bulls and want to see price break back up in neutral territory

Continue to watch this area for a break $,10,189 will lead back down to 4-digit BTC pic.twitter.com/howedYMEKp

— Josh Rager ? (@Josh_Rager) July 22, 2019

CoinDesk analyst Omkar Godbole is on the same page and says Bitcoin needs to cross $11,080 to break the current trend.

Bitcoin

CoinDesk – Key indicators on short-duration charts biased for a fall below $10,000

NewsBTC – Bitcoin could retest key support before fresh increase

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Ethereum

FXStreet – ETH/USD bulls gather breath before another assault at $230

XRP

Blockonomi – XRP holding uptrend support, can it continue higher?

Litecoin

FX Empire – Late LTC pullback limiting the upside on the day

Bitcoin Cash, Stellar, EOS, Tron

NewsBTC – Crypto market approaching next break: BCH, XLM, EOS, TRX analysis

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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