The crypto markets turn into bearish turn on Wednesday, losing 2 bln of capitalization , and come back at $15 billion as traders initiated an apparent market sell-off due to the fear due to the second hardfork of bitcoin on 25/10/2017 .

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Bitcoin :

The bitcoin price fall today from 5670 to 52700 losing 427 USD, this correction is due to many factors, between the fear caused by the fork of 25/10/2017 and the fork of 01/10/2017.

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Another theory is that traders are bearish on the outlook for the Communist Party of China’s (CPC) national congress, where conservative forces under Xi Jinping are expected to retain the upper hand over progressive officials who tend to favor reduced state control of the economy and would perhaps take a more conciliatory approach to cryptocurrency.

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Now we don’t advice any trade until the end of the first fork of 25/10/2017, maybe the bitcoin price will continue it’s correction , the next resistance line for bitcoin is 5000 USD, if it’s drop below this resistance line, the next target is 4800 USD and then 45500 USD and then it’s skyrocket to the moon , and maybe a new all time high around 6100 USD will posted , but this will not happen before the end of the

Ethereum :

The ethereum price fell from 347 USD to 287, this fall is due to a lot of factors, the fear of the activation of Byzantium Hardfork on the ethereum blockchaine, a lot of network problems was signaled on this blockchaine, this has impact directly the ethereum market and lead to a sell of in this market .

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We advice you to open a long term position on ether below 300 USD , and to hold in order to sell from 335 USD to 340 USD .

Litecoin :

The litecoin also is into a bearish movement, it’s fall today from 62 USD to 52 USD, but it remain positive because it’s has not fall under 48 USD, you can open a long term trade on litecoin below 55 USD and wait for 70 USD level in order to take profit but make a stop lose around 50 USD .

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Also from my analyses, it is the best time to buy Monero, Dash , and Zcash for quick term profit .

Read also :

bitcoin ethereum and litecoin price analysis : 17/10/2017

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