In today's review, as always, we summarize the outgoing week, analyze the general dynamics of prices.
BTC / USD
AT earlier this week sellers once againWe tested the lower border of the orange support area - 38.2% Fibo (9441.98 USD), but this time the price did not rebound. A strong bearish impulse broke through the support and set a minimum of around eight thousand in two hours. After the rebound, the decline continued, and the weekly low was updated to the level of 7733.99 USD.
In the second half of the week, the price fixed in the lateral range at the level of 8000.00 USD and began to show weak signs of life. At first, buyers were able to restore the price to the hourly EMA55.
Yesterday there was an attempt to test the level Control points 8406.53 USD, but the impulse was only enough for a maximum at the point of 8356.40 USD. On the Bitfinex exchange, the maximum was the highest - 8390.00 USD.
This morning the pair again rolled below the hourmoving average EMA55. Flat continues. We believe that in the region of eight thousand there is a psychological barrier that will keep the price out of the way from the drawdown to the September low.
At the beginning of next week, we can expect the consolidation of the pair in the area Point of control (8406.53 USD) and a re-test of resistance 8500.00 USD. If buyers manage to break through this resistance, then by the end of the week the pair can test the level of 8900.00 USD.
ETH / USD
This week began with a breakthrough in psychologicalsupport 200.00 USD. The fall was intense and deep. After breaking through the strong support level of 61.8% Fibo (USD 168.70), the pair set a monthly minimum at around 50% Fibonacci (USD 151.94). We managed to bounce back to the POC level (167.64 USD) and gain a foothold there in consolidation.
In the second half of the week managed to recoverto the two-hour EMA55, but so far it has not been possible to overcome the resistance of this moving average. The pair settled in a flat, and the price forms a narrowing side range with support at 61.8% Fibo (168.70 USD). Resistance is the downward EMA55.
Today we expect a slight pullback, and the nextweek we can hope for a recovery in the resistance area of 186.00 USD. It is possible that around 190.00 USD, the recovery will slow significantly and the pair will reverse.
XRP / USD
Ripple's annual minimum price is set at thisTuesday at around 0.220 USD. By the middle of the week, they managed to recover to the hourly EMA55, and at the weekend the price pierced this level of resistance, but so far it has not been possible to gain a foothold above the average price level. The pair is located in a narrow sideways on the support line of 0.240 USD.
Around the same area is the Pointcontrol the volume indicator on the profile. We believe that next week, buyers will be able to use this POC level (0.241 USD) as support and recover in the region of 0.260 USD. However, whether the pair will be able to gain a foothold in this area in consolidation is not yet clear.
* All price values are based on data from the BitStamp exchange