Ethereum: A break below 2900 is a sell signal
|Bitcoin broke first support at 46200/000 but meets best support for this week at 43900/600. Longs need stops below 42900.
Ripple breaks strong support at 11540/510 targeting strong support at 10350/10100.
Ethereum longs at our buying opportunity at 2970/50 worked perfectly – we bottomed exactly at for a 100 pip recovery so far this morning.
Daily analysis
Bitcoin best support at 43900/600. Longs need stops below 42900. A break lower is a sell signal targeting 41000/40500 & 39500, probably as far as 38000.
Longs at 43900/600 target 4500/300 & minor resistance at 46150/450. Above 47000 can retest 48190. Further gains eventually target 49400/500 then 50500/51000. Ripple strong support at 10350/10100. A break below 10000 risks a slide to 9350/9300.
Longs at strong support at 10350/10100 target 10850, perhaps as far as 11510/540. If we continue higher look for 11850, perhaps as far as 12450/12500 before a retest of 13450/490. A break higher targets 13615, 14410, 14540 & 14660.
Ethereum longs at our buying opportunity at 2970/50 target 3100 with minor resistance at 3180/3210 for some profit taking. A break higher however retests 3325/35. Above 3350 targets 3400 & above here is a buy signal initially targeting 3580/3600.
A buying opportunity at 2970/50. Longs need stops below 2900. A break lower us a sell signal targeting 2850 then strong support at 2750/2700 for profit taking on shorts.
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