Top 3 Price Prediction Bitcoin, Ripple, Ethereum: China is buying the Bitcoin rocket

• The devaluation of the Yuan triggers a revaluation of Bitcoin.
• The Altcoins are the losers and they stay far behind.
• XRP disappoints and is totally out of the market.

 

The headline of my article last Friday laid the case for how the Crypto market was looking at the Moon again – but maybe it wasn't a group trip.

The news that opens the week is Bitcoin's break above resistance at $11,280 – a move which should allow it to travel at cruising speed to $14,000.

Investors warn that the cause of this rise is the unexpected devaluation of the Chinese yuan and the massive outflow of capital from the Asian Giant.

It is an exciting approach, and that will allow us to have a first idea of the behavior of capital in unstable environments concerning the Cryptocurrencies market. 

For now, Bitcoin is the object of desire of this capital looking for a safer environment.

The Altcoin segment does not benefit from this inflow of money at the same level as Bitcoin. 

The idea of Bitcoin as a reserve value in the face of uncertainty is gaining followers very quickly.

 

ETH/BTC Daily Chart

 

The ETH/BTC pair suffers at the opening of the European session and loses the price congestion support at 0.020, falling to 0.0195 at the time of writing. Ethereum's critical situation is magnified by Bitcoin’s surge.

We will probably witness persistent falls until Bitcoin becomes expensive and money finds Ethereum attractive as a way to enter the Crypto market.

The scenario requires a new search for technical support so that the graph is redrawn and provides new data.

Above the current price, the first resistance level is at 0.020 (price congestion resistance), then the second at 0.0229 (price congestion resistance) and the third one at 0.024 (EMA50).

Below the current price, the first support level is at 0.0186 (price congestion support), then the second at 0.017 (price congestion support) and the third one at 0.0155 (double price congestion support).

 

 

The MACD on the daily chart is very close to entirely crossing downwards. The bearish factor loses strength as the indicator comes from lower levels, so in any case, any fall comes under terminal scenarios.

The DMI on the daily chart shows bears at extreme levels where they usually turn around and lose momentum. The bulls continue to descend but do not accelerate downwards.

BTC/USD Daily Chart

 

BTC/USD is currently trading at the $11,709 price level, a level where sales are appearing to block the clear path to $14,000 – an immediate target.

Above the current price are three resistance levels that separate BTC/USD from hitting new all-time highs.

Above the current price, the first resistance level is at $14,000 (price congestion resistance), then the second at $17,000 (price congestion resistance) and the third one at $19,600 (historical highs).

Below the current price, the first support level is at $11,200 (price congestion support), then the second at $10,800 (price congestion support) and the third one at $10,000 (EMA50).

 

 

The MACD on the daily chart broadens the bullish profile. The bullish slope and the opening between lines increases. The current structure increases the expectations of travel and duration of the current movement.

The DMI on the daily chart shows the bulls accelerating their bullish trajectory while the bears continue to decline. The selling side of the market is about to cross down the ADX line, the only remaining bearish factor.

 

ETH/USD Daily Chart

ETH/USD is currently trading at the $229.3 price level and is struggling to stay close to Bitcoin's rising levels.

The first clear objective is at the price congestion resistance level of $235. Higher, the second cap awaits at $240 (EMA50 and SMA100) and the third one at $250 (price congestion resistance). 

Below the current price, the first level of support is at $222 (price congestion support), then the second at $215 (price congestion support) and the third one at $205 (price congestion support).

 

 

The MACD on the daily chart shows an excellent bullish development, although not yet reaching the levels we have seen in Bitcoin.

The DMI on the daily chart finally shows a reaction of the bulls, which rise sharply. The bears continue to decline although they retain dominance in the pair. The bearish moment cannot be considered over.

XRP/USD Daily Chart

XRP/USD is trading at $0.32 and seems locked at current price levels.

Above the current price, the first resistance level is at $0.328 (price congestion resistance), then the second at $0.335 (price congestion resistance) and the third one at $0.345 (price congestion resistance, SMA200, and EMA50).

Below the current price, the first level of support is at $0.317 (price congestion support), then the second at $0.308 (price congestion support) and the third one at $0.30 (price congestion support).

 

 

The MACD on the daily chart shows a continuation of the bullish cross, although with no improvement in either slope or line opening.

The DMI on the daily chart shows the bulls increasing their trend strength, while the bears remain at the same levels of the last few days and retain market control.

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