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Bitcoin: A break below 35400 is a major sell signal

Bitcoin: A break below 35400 is a major sell signal
Jason SenJason SenDayTradeIdeas.co.uk

Bitcoin shorts at resistance at 41100/500 target 40000 & as far as the March low at 37500/37000 this time. Next target is 36000 with the important 100 week moving average at 35900/700. A break below 35400 is a MAJOR SELL SIGNAL. First stop is 28900/700.

Gains are likely to be limited with minor resistance at 39000/39300 then strong resistance at 40100/300.

Ripple holding below the 100 week moving average at 6650/6600 is a disaster for bulls. Look for 6220/00 then 5800 before a retest of the 2022 low at 5525/5475.

Obviously bulls need prices to recover & hold above 6700 as quickly as possible. I think this is unlikely.

Ethereum strong support at 2800/2750. A break below & hold below 2700 is a medium term sell signal targeting 2640, 2600, 2570 & 2500 (just to start with).

Holding strong support at 2800/2750 allows a recovery to 2900/3000 but may be no further. Bulls need prices to hold above 3000 if there are to get back in the game.

Author

Jason Sen

Jason Sen

DayTradeIdeas.co.uk

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