[25/10/2020] HUAX Technical Report : BTC, ETH，XRP

The HUAX Technical Report is compiled by our quantitative analysts based on their technical understanding of the cryptocurrency market. To summarize the technical model and forecast of future price trends. #HUAXGO

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BTC price movements

Screenshot_2020-10-25_at_11.46.28_AM.png

Bitcoin (BTC) prices have been soaring recently especially due to the news from Paypal. From the chart, we can see that BTC has broken the recent resistance and right now we are looking for a slow retracement to continue the long setup. Based on the strength of the recent buyer, we should be able to get a nice continuation of the Uptrend so this should be a really solid trade.

ETH price movements

Screenshot_2020-10-25_at_11.46.35_AM.png

Ethereum (ETH) has been doing really well as well and the setup is similar to BTC where we are looking for a small retracement to the support area and look to a long setup for ETH. Overall the setup looks pretty solid and as with BTC, ETH buyer’s strength looks really strong as well.

XRP price movements

Screenshot_2020-10-25_at_11.46.43_AM.png

Ripple (XRP) has beautifully formed the bottom of the correction and now we are moving in the uptrend channel. Potential setup scenarios is either to buy at this price zone or wait for a retracement to the bottom of the channel then buy it for an even better risk to reward ratio setup. If prices do break the middle line of the channel, XRP will target for the 0.27 - 0.28 zone and this looks really bullish.