Bitcoin was finally able to reach a historical high, but the crypto banks did not have enough strength to overcome it. The market went on a downward correction again. How long it will be is still unknown. It is not necessary to exclude repeated testing of the historical maximum for bitcoin, besides, there are no technical grounds for this yet.
Bitcoin was able to reach historical highs at the resistance level of 58,340.66 after consolidating above the level of 100 on Fibo Expansion (55,840. 78 dollars per coin), held at the maximum values of February 21 and marked with a red dotted line. Now the price of BTC USD has turned down from it and returned to support at the level of 100 on Fibo Expansion.
The further direction of the main cryptocurrency will depend on whether this level will stand or be broken. With a breakout and consolidation below, the nearest target for a decline will be yesterday's lows.
Bitcoin Cash continues to test the resistance level of 551.56, marked with a red dotted line. Judging by the fact that an equilateral triangle was formed in the process of this proto-trading, BCH USD quotes can leave it with an impulse. But up or down, it is still unclear, since the figure is equilateral. If its upper limit is broken, the pair will open a path to the level of 611.50. And when you exit the triangle down, the quotes will open a path going down to the support levels of 508.94, and then 465.48.
Ripple failed to break from the bottom up of the intermediate horizontal of 0.4539 and bounced down from it. The target going downward remains at 0.4071 (red segment). An alternative scenario, which is possible when the market returns to growth is the prospect of growth to the resistance level of 0.4769 (blue segment).
Ethereum has recovered even more than the main cryptocurrency. The pair failed to reach the resistance formed by the level of 61.8 on Fibo Expansion. And during the decline, the support level of 1697.27 (red dotted line) was not reached. And since the ETH USD quotes are in the middle of the sideways trend, the pair can move both to its support and resistance depending on the direction of the main cryptocurrency.
