Bitcoin: A break below 35400 is a major sell signal
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
DayTradeIdeas.co.uk
