Bitcoin: Longs need stops below 53400

Bitcoin dipped to 55900, holding just above support at 53600/500. Watch this level on weakness again today.

Ripple we are long at strong support at 10800/10700. Longs need stops below 10300.

Ethereum we are long at 3500/3450.

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 to test strong support at 10800/10700. Longs need stops below 10300. A break below here targets 9700/9600.

Our longs at at 10800/10700 target 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 holding first support at 3500/3450 targets 3550/3600 & 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. A break below 3350 however risks a slide to strong support at 3170/3150. Try longs with stops below 3100. 

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