Price Analysis 02/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, LEO

Publicado en by Cointele | Publicado en

Manuel Andersch, senior FX analyst at the Bayerische Landesbank has published a report, which suggests that the "Forthcoming halving effect has hardly been priced into the current Bitcoin price." Using a stock-to-flow ratio metric, the report projects a target price of $90,000 for Bitcoin in 2020.Though there were great expectations for the launch of Bakkt, it turned out to be a dud.

The buyers are attempting to keep the price above $173, which is a positive sign.

We will wait for the price to sustain above the moving averages to suggest a long position.

If the price turns down from the neckline, the bears will try to resume the down move.

If the price turns down from either resistance level, the bears will attempt to resume the downtrend.

We will wait for a new buy setup to form or for the price to break out of the downtrend line before proposing a trade in it.

The bears will now try to sink the price back below the recent lows of $2.4001.

We will wait for the price to break out and close above the downtrend line before suggesting a long position in it.

Conversely, if the bulls push the price above the range, a move to the 20-day EMA and above it to the 50-day SMA is possible.

Conversely, if the bears sink the price below $1.0075, the pair will weaken further and can dip to $0.80.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.