Bitcoin beat 55300/500 in the bull trend as the a bull flag pattern completed & we hit the next target of57000, then held half way to 58500.
Ripple broke minor support at 14050/113400 to test strong support at 10800/10700. Longs need stops below 10300.
Ethereum edging slowly above minor resistance at 3400/3450 so this is now as support level.
Daily analysis
Bitcoin hit the next target of 55300/500 & 57000 as we look for 58500 & perhaps as far as resistance at 59400/600 in to the end of the week.
Downside is expected to be limited with support at 53600/500. Longs need stops below 53400. Strong support at 50900/800. Longs need stops below 49500.
Ripple has paused at minor resistance at 12000/12100 as predicted but broke minor support at 14050/113400 to test strong support at 10800/10700. Longs need stops below 10300. A break below here targets 9700/9600.
We are holding minor resistance at 12000/12100. A break above the high for the bounce at 12290 this week targets 12970/12980. Above 13000 look for 13400/500.
Ethereum beats minor resistance at 3400/3450 for the next target 3550/3600 & to just 25 pips from 3700. On further gains look for 3830/50 before a retest of the September high at 4000/4030
Outlook positive as long as we hold first support at 3500/3450 (although we spike down to 3375 yesterday before a quick recovery. A break below 3350 however risks a slide to strong support at 3170/3150. Try longs with stops below 3100.
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
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
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: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
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.