Bitcoin beat strong resistance at 44700/900 for a medium-term buy signal initially targeting 46750/770 (we topped exactly here yesterday) & eventually 50500/51000.
Ripple beat strong resistance at 7700/7750 for a medium-term buy signal, initially targeting 8300 & then 8500/8700 & now the next target of 8800/8830.
Ethereum backs up to 3150/90. Above 3200 tests minor resistance at 3350/80.
Daily analysis
Bitcoin topped exactly at the next target of 46750/770. Further gains eventually target 50500/51000.
Bulls in control so the downside is expected to be limited. First support at 44400/300. Best support at 42800/500. Longs need stops below 42000. A break lower risks a slide to 40400/40000.
Ripple holding support at 7650/7550 perfectly for bulls to remain in control, targeting 8500, & 8800/8830. Today we look for 9000 & 9280/9300, eventually as far as 9650/9700.
First support at 8100/8000. Longs need stops below 7930.
Ethereum higher from good support at 2850/2800 back up to 3150/90. Above 3200 tests minor resistance at 3350/80. A break above 3400 is a buy signal initially targeting 3580/3600.
First support at 3100/3080 then best support at 2900/2850. Longs need stops below 2800.
Chart
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.