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During a bottoming process, prices swing up and down inside a range. This builds up the internal energy needed to break out or break down from it. Bart Smith, head of digital asset at Susquehanna International Group, said to CNBC that a lot of big investors are waiting for a dip to $5,000 to make an entry into Bitcoin.

Even Bitcoin bear, Todd Colvin, analyst at Ambrosino Brothers believes that “sophisticated investors will step in” at $5,000 on Bitcoin.

The current decline in cryptocurrencies has not deterred a few investors who have held their bullish targets. One of them is Tom Lee, co-founder and head of research at Fundstrat Global Advisors, who has a target of $25,000 for Bitcoin by the end of this year.

Another Bitcoin bull is Julian Hosp, president and co-founder of crypto wallet startup TenX who has a target of $60,000 by year end 2018.

We are similarly bullish on cryptocurrencies and believe that they are undergoing a base building process, however, our targets are much more muted. Long-term investors should use sharp falls to add the major coins to their portfolio. So, let’s see which are the ones that can be purchased now.

BTC/USD

Bitcoin turned down from the overhead resistance of $6,953.38 on July 9 and slipped below the 20-day EMA. If the current fall is stopped above the $6,250 mark, the probability of an inverse head and shoulders pattern forming will increase.

BTC/USD

The bullish setup will complete on a breakout and close above $6,953.38. The pattern target of such a break out is $7,996.11.

Once the BTC/USD pair breaks out of the downtrend line, it will become positive and might climb to $8,560 and thereafter to $10,000.

Conversely, if the bulls fail to hold $6,250, a fall to $6,075 is probable. Below $5,900, the next support is at $5,450, hence, the stops for the long positions initiated at $6,650 should be kept at $5,900.

ETH/USD

The bulls could not push prices higher after breaking out of the 20-day EMA on July 7. The failure of Ethereum to move up attracted selling, which resulted in a breakdown of the 20-day EMA and the support at $450.1.

ETH/USD

The next support on the downside is at $404.99. If this level also breaks, the ETH/USD pair can slump to the critical support at $358.

The cryptocurrency will become positive if it scales above $500. We shall wait for the breakout before suggesting any trades.

XRP/USD

Ripple is in a firm bear grip. It has again broken below $0.45351. Its next support is at $0.4242. If this level breaks, there is no major support until $0.24001.

XRP/USD

On the upside, the 20-day EMA will continue to act as a stiff resistance. Above this level, the next resistance is at $0.52.

The XRP/USD pair will show signs of a turnaround once it sustains above $0.56. Until then, all pullbacks will be sold into.

We shall wait for the trend to change before proposing any trades on it.

BCH/USD

Bitcoin Cash has turned down after failing to break out of the 20-day EMA. It is currently taking support close to the $700 levels. If this level breaks, the cryptocurrency can slide to $657.8 and below that to $619.7510.

BCH/USD

On the upside, the BCH/USD pair will gain strength above the 20-day EMA. However, we shall turn positive only after the bulls sustain above $850 for 4 hours.

As this pair has a history of vertical rallies, we shall recommend a long position on any indication of a trend change.

EOS/USD

We were expecting the tight range on EOS to resolve on the upside, but our assumption has been proven wrong. The bears forced a breakdown of the range, which led to a sharp fall that has carried the digital currency to the critical support at $6.8926.

EOS/USD

If the EOS/USD pair sustains below $6.89, it can slide to $5.961. If this level…

See more at: https://cointelegraph.com/news/bitcoin-ethereum-ripple-bitcoin-cash-eos-litecoin-cardano-stellar-iota-tron-price-analysis-july-11