Cryptocurrencies

Analysts Warn Bitcoin Could Break Support As New ETF Delays Announced – BTC, Ethereum, XRP, Litecoin, Stellar, BNB, EOS, BSV, XMR Forecasts

By August 12, 2019 No Comments

This article was originally published here.


 

The U.S. Securities and Exchange Commission has delayed its decision on three Bitcoin ETF proposals.

The agency is now facing a hard deadline of October 13th for a proposal from Bitwise as well as a final deadline of October 18th for the VanEck proposal. A third proposal from Wilshire Phoenix can be delayed for another 150 days.

So far, the crypto markets have shrugged off the new delays. Right now, Bitcoin is up 0.84% at $11,442 according to COIN360. Ethereum is down 0.71% at $212.90, XRP is up 1.49% at $0.3040 and Litecoin is down 5.27% at $86.10.

Source: COIN360

CoinDesk’s Omkar Godbole says Bitcoin bears may be in charge in the near term, after a four-day struggle.

“Bitcoin (BTC) could drop below $11,000 in the next 24 hours, after sellers took victory in a four-day-long tug of war with the bulls…

So far, the downside has been restricted to levels around the former resistance-turned-support of $11,100.”

The crypto outlet Bitcoinist is on the same page, highlighting BTC’s underwhelming volume.

“Bitcoin price levels hold above $11,000 for now but the low volume could cause this support to break.”

Here’s a look at the latest forecasts from across the cryptoverse.

Bitcoin

CoinDeskBitcoin price faces struggle to hold above $11K after range breakdown

BitcoinistBTC looks to break support at $11,000

Ethereum

FXStreetETH/USD trading above the descending channel

Crypto DailySupport expected around $202, with resistance expected around $222

XRP

NewsBTCXRP price could recover while BTC and ETH face hurdles

Stellar, Litecoin, Binance Coin, EOS, Bitcoin SV, Monero

FX EmpireHolding onto $0.07730 levels will be key for XLM

CointelegraphMajors analysis, plus BCH, LTC, BNB, EOS, BSV, XMR, XLM

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