Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening – U.Today

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The bears are continuing to apply pressure on the main cryptocurrencies. However, the altcoins are testing their support levels. If the bulls manage to maintain these levels, then one should expect a good rebound ticking upwards.

Below is key information for Bitcoin (BTC), Litecoin (LTC), TRON (TRX), and Tezos (XTZ):

Name

Ticker

Market Cap

Price

Volume (24H)

Change (24H)

Bitcoin

BTC

$136,870,530,589

$7,566.87

$17,335,699,425

2.67%

Litecoin

LTC

$2,935,607,698

$46.02

$2,553,535,223

3.02%

TRON

TRX

$981,336,616

$0.014717

$970,524,056

0.18%

Tezos

XTZ

$926,823,387

$1.40

$50,581,767

8.84%

BTC/USD

Yesterday's symmetrical triangle was broken up. There was solid growth, but the sellers did not step aside. This is evidenced by the candles' long shadows. Buyers are able to maintain the price at $7,500 but are unable to break through the $7,650 mark. So far, nothing is clear as to furthering the priority of movements in the market.

On one hand, the candles' large shadows and small volumes of growth indicate seller dominance. BTC may trend downwards to $7,300. If it breaks through that level, then BTC will go to $6,900-$7,100.

On the other hand, the price has broken the aforementioned trend line, which has held the cryptocurrency's rate back since October. In general, BTC is expected to drop to $7,300, but if the cryptocurrency is fixed above $7,650, then BTC will move to $7,800.

At press time, BTC is trading at $7,544.

LTC/USD

LTC is trading in accordance to our recent forecast between the $42-$52 range. Its rate has increased by 2.68% since yesterday.

Looking at the 4H chart, LTC touched the local bottom at $42. In terms of its nearest price scenario, the bulls are dominating over the bears. The Moving Average Convergence/Divergence (MACD) is bullish, and the closest mark that LTC might reach is $50. If the current forecast comes true, then the quotes will move based on the curve pattern as outlined on the chart.

At press time, LTC is trading at $45.73.

TRX/USD

TRX has also followed our previous scenario as the its price of $0.014 has been retested.

Looking at the 1D chart, the bearish trend remains even on a short-term basis. TRX has currently formed a head and shoulders pattern and is likely to move downwards due to the low trading volume. The relative strength index (RSI) line is also going down, with the nearest price target being at $0.135.

At press time, TRX is trading at $0.0147.

XTZ/USD

XTZ has had the biggest gains today. Its rate has rocketed up by 8.46% in the last 24 hours.

Despite the sharp growth, this altcoin cannot be considered the start of a bullish trend. XTZ is about to roll back to its nearest support level of $1.35. Moreover, the RSI is located on the edge of the oversold area, suggesting an upcoming decline.

At press time, XTZ is trading at $1.3978.

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Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening - U.Today