Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, March 27

During a bear market, fear grips the investors, resulting in a long liquidation. While some believe that the bubble in Bitcoin has burst, others believe that the current fall is only a correction, which will lead to higher prices later in the year.

Founder and chairman of investment firm LDJ Capital, David Drake believes that Bitcoin will rally to$30000by the year-end. That is a whopping 262 percent return from the current levels.

Jack Dorsey, the CEO of Twitter and Square, believes that Bitcoin can Replacethe fiat currencies within a decade.

A few positive voices in a sea of gloom is a welcome change. Let’s see if the short-term picture is improving or not.
BTC/USD:Though bitcoin broke out of the descending channel on March 20, it could not cross above the 20-day EMA. Currently, prices are again threatening to dip back into the channel, which is a bearish development. Our long positions initiated at $8800 are trading under a loss. As the setup looks negative, we suggest booking a loss on 50 percent of the open positions and holding the rest with the stops at $7600.The next support on the downside is the March 18 lows of $7715 below which, a retest of the February 06 lows of $6075.04 is possible.Our bearish view on the btc/usd pair will be invalidated if prices breakout and sustain above the 50-day SMA.ETH/USD:ethereum is in a strong downtrend. It continues to trade inside the channel and below both the moving averages, which are falling sharply. The recovery attempt by the bulls failed at the $590 labels.The final critical support on the downside is the March 18 lows of $452.32.Below this level, the eth/usd pair can fall to $385.The RSI is deeply oversold, which shows that the selling has been overdone. We anticipate another pullback attempt within the next few days. The first sign of strength will be when the bulls sustain above $600.Until then, the bears will continue to sell on rallies.