-
Bitcoin saw a high for the day exactly at the 500 day moving average at 43300/500. A break higher is a buy signal.
-
Ripple we wrote: has just beaten the 500 day moving average at 7980 to turn the outlook more positive.
-
We have hit the 8400/8500 target as we look for 8950/9000, perhaps as far as the February high & very strong resistance at 9140/9160.
-
Ethereum led the way higher with a bounce from the 500 day moving average at 2540/2500 hitting targets as far as resistance at 3000/3050. A high for the day exactly here yesterday.
Daily analysis
Bitcoin now testing strong resistance at 43300/43500. Shorts need stops above 44000. A break higher is a buy signal targeting 46600/800 & perhaps as far as 49000/50000.
Minor support at 40000 has held but below 39500 can target 38000/37700. If we continue lower look for a retest of the March low so far at 37150. Just be aware that below here targets 36500/400, eventually as far as 33300/31100.
Ripple hit the 8400/8500 target but unexpectedly reversed from 8650. Bulls just cannot keep control of this market. Less likely now but if we continue higher look for 8950/9000, perhaps as far as the February high & very strong resistance at 9140/9160.
Strong support at 8000/7900 & again at 7700/7560. A break below 7600 is a sell signal.
Ethereum bounce from the 500 day moving average at 2540/2500 reaches resistance at 3000/3050. A break above 3150 is a medium term buy signal initially targeting 3200/3230...we should struggle to beat this level but a break higher eventually is a strong buy signal. Look for 3500 first target.
Holding resistance at 3000/3050 meets strong support at 2800/2750. A break below 2700 is a sell signal.
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
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
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.