Bitcoin: A break above 45800 is a strong buy signal
-
Bitcoin could not beat the 100 day moving average at 45000 to keep the bears in control for now.
-
Ripple saw a high for the day exactly at quite strong resistance at 8000/8100 with a drift lower from there.
-
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
Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.
