Bitcoin corrected as expected, but it did not reach the level of 49690.70. It found support slightly higher. Today, the price of the main cryptocurrency is recovering, almost reaching an all-time high. As soon as the quotes consolidate above the level of 52616.68, technically the path for growth will open.
In order to determine further targets for BTC/USD, at least approximately, we will use the new Fibo Expansion grid, since the old one has already exhausted itself. Stretching it at prices 42592.26 - 52616.68 - 45855.34, it can be seen that its level of 61.8 almost coincides with the target of 161.8 on the previous Fibo Expansion.
The next target for the growth of the main cryptocurrency will be the 100 level on the new Fibo Expansion, which is located at $56,000 per bitcoin. While these targets are indicative, it's still worth observing how they work.
On the four-hour chart, Bitcoin Cash completed its consolidation. It failed to consolidate below the support at 701.47 and returned to the range of 701.47 - 726.76. BCH/USD still has room for growth. There is a possibility of a breakdown of the level of 726.76. If consolidation above this level does not occur, the pair can be expected to return to the range of 701.47-726.76. An alternative scenario would be for BCH/USD to rise to the next north of 750.13.
The dynamics of Ripple have not changed significantly yet. XRP/USD quotes could not confidently gain a foothold below the support level of a narrow sideways range of 0.5345 - 0.5564 and are testing it for strength. Technical uncertainty persists. The scenario of a decline in the XRP/USD pair towards the level of 0.4769 (lower blue horizontal) remains relevant.
Ethereum continues to grow after consolidating above the level of 161.8 by Fibo Expansion. As for Bitcoin, we will outline the following targets using the new Fibonacci extension.
The Fibo Expansion grid, stretched along the extremes of 1493.00-1874.20-1660.01, partially coincided with the previous targets: the level of 61.8 overlapped with the level of 161.8 of the previous expansion. The next target for ETH/USD growth can be considered the level of 100 on the new Fibo Expansion, which is located near the level of 2043.32.
Litecoin worked out both boundaries of the sideways range 219.47 - 228.90 as expected. Now, its upper border is broken, and the nearest target for growth is the resistance at 239.79. If this level is broken and the price consolidates above it, the path to the resistance 260.66 will be opened for the LTC/USD pair.
