Bitcoin: A break above 45800 is a strong buy signal
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Bitcoin could not beat the 100 day moving average at 45000 to keep the bears in control for now.
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Ripple saw a high for the day exactly at quite strong resistance at 8000/8100 with a drift lower from there.
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Ethereum beat resistance at 2790/2810 for a buy signal targeting 2900/2920 & resistance at 3025/55. A high for the day exactly here yesterday.
Daily analysis
Bitcoin trading below strong resistance at 44100/400 as I write overnight. 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.
Shorts at strong resistance at 44100/400 target 42000/41800, perhaps as far as support at 40800/400. However, if we continue lower look for 39300/200.
Ripple STILL holding quite strong resistance 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.
Holding strong resistance at 8000/8100 targets 7560/30, perhaps as far as support at 7300/7280. Below here can target 7090/70, perhaps as far as support at 6890/6870.
Ethereum beat resistance at 2790/2810 for a buy signal targeting resistance at 3025/55 with a high for the day exactly here. A break above 3100 retests the February high at 3200/3280.
Shorts at 3025/55 target minor support at 2870/40 & perhaps as far as 2750/2700 before the weekend. Strong support from 2660 down to 2560 should now hold the downside again.
Author
Jason Sen
DayTradeIdeas.co.uk
