• Bitcoin could not beat the 100 day moving average at 45000 to keep the bears in control for now with shorts at strong resistance at 44100/400 working perfectly on the slide as far as support at 40800/400.

  • Ripple shorts at strong resistance at 8000/8100 certainly worked perfectly this week, with a high for the week here & a slide to support at 7300/7280 for profit taking today.

  • Ethereum we wrote: Shorts at 3025/55 target minor support at 2870/40 & perhaps as far as 2750/2700 before the weekend.

  • Targets all hit on the upside & downside so far this week.

Daily analysis

Bitcoin shorts at strong resistance at 44100/400 target 42000/41800 (hit) & now support at 40800/400 for profit taking. Longs could be risky in the bear trend, but if you try, stop below 40000 (& look for a target of 42800). However if we continue lower look for 39300/200 & 38000/37700.

Minor resistance at 42700/900 then strong resistance at 44100/400. Shorts need stops above 45000 & a break above the February high at 45800 would therefore be a strong buy signal with another 1000 pips gain easily possible.

Ripple shorts at strong resistance at 8000/8100 work perfectly on the slide as far as support at 7300/7280 for some profit-taking. Below here can target 7090/70, perhaps as far as support at 6890/6870.

Gains are likely to be limited in the bear trend with resistance at 7600/7700 & again at 8000/8100. Shorts need stops above 8200 for a buy signal initially targeting 8400, 8500 & perhaps as far as the 2 week high at 8600.

Ethereum shorts at at 3025/55  worked perfectly targeting minor support at 2870/40 & as far as 2750/2700 before the weekend for some profit taking. However further losses look likely eventually to strong support from 2660 down to 2560 which should now hold the downside again.

Gains are likely to be limited in the bear trend with resistance at 2790/2810 & again at resistance at 3025/55 with a high for the day exactly here. A break above 3100 retests the February high at 3200/3280.


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


Recommended Content

Editors’ Picks

Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms

Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms

Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.

More Bitcoin News
Litecoin poised for double-digit decline after breaking ascending trendline

Litecoin poised for double-digit decline after breaking ascending trendline

Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.

More Litecoin News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.

More Cryptocurrencies News
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC

21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC

21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.

More Cryptocurrencies News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

Read full analysis
Best Forex Brokers with Low Spreads

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.

Read More

BTC

ETH

XRP