Bitcoin sell opportunity at 38000/38500
|Bitcoin bottomed exactly at the downside target & key support at 31100/3000. An easy 6000 pips on our shorts before the bounce to first resistance at 36200/36700.
A sell opportunity today at 38000/38500 stop above 39000.
Ripple shorts at strong resistance at 1.0515/1.0545 hit our targets of 0.9400/9300, 0.9000/0.8980 & 0.8050/30 for another huge profit. A bounce yesterday topped in between strong resistance at 0.9000/0.9150 & further strong resistance at 0.9450/0.9650.
Ethereum shorts at strong resistance at 2750/2800 worked perfectly as we hit 2430 & minor support at 2380/2350 this week for an easy 400 pips profit. We topped exactly at first resistance at 2550/2650 keeping the outlook negative.
Daily analysis
Bitcoin sell opportunity today at 38000/38500 stop above 39000. A break higher is a buy signal for today targeting 41000/41200, perhaps as far as 43000/43500.
Shorts at at 38000/38500 36500/200, perhaps as far as 34200/33500. Key support at 31000/30000. A break lower is obviously a sell signal.
Ripple outlook negative if we hold below 0.8830/0.9000, targeting 0.8050/30. Again expect very important 6 month trend line & 200 day moving average support at 0.7040-0.6970. Longs need stops below the May low at 0.6500.
Strong resistance at 0.8830/0.9000 but above here can target 0.9150 & further strong resistance at 0.9300/9400. Shorts need stops above 0.9500.
Ethereum shorts at strong resistance at 2750/2800 worked hitting 2550/2500 & minor support at 2380/2350 this week. Gains are likely to be limited with first resistance at 2550/2650. Shorts need stops above 2700. A break higher however targets resistance at 2850/2900. Shorts need stops above 2950.
Holding first resistance at 2550/2650 re-targets 2380/2350. If we continue lower in the 3 week bear trend, look for 2140/30 before a retest of important 61.8% Fibonacci support at 1728.
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