Bitcoin beat strong resistance at 44700/900 for a medium-term buy signal initially targeting 46750/770 (we topped exactly here yesterday) & eventually 50500/51000.

Ripple beat strong resistance at 7700/7750 for a medium-term buy signal, initially targeting 8300 & then 8500/8700 & now the next target of 8800/8830.

Ethereum backs up to 3150/90. Above 3200 tests minor resistance at 3350/80. 

Daily analysis

Bitcoin topped exactly at the next target of 46750/770. Further gains eventually target 50500/51000.

Bulls in control so the downside is expected to be limited. First support at 44400/300. Best support at 42800/500. Longs need stops below 42000. A break lower risks a slide to 40400/40000.

Ripple holding support at 7650/7550 perfectly for bulls to remain in control, targeting 8500, & 8800/8830. Today we look for 9000 & 9280/9300, eventually as far as 9650/9700.

First support at 8100/8000. Longs need stops below 7930.

Ethereum higher from good support at 2850/2800 back up to 3150/90. Above 3200 tests minor resistance at 3350/80. A break above 3400 is a buy signal initially targeting 3580/3600.

First support at 3100/3080 then best support at 2900/2850. Longs need stops below 2800.

Chart

BTCUSD

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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