TRENDING:
US CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin: First support at 48000/47500

Bitcoin: First support at 48000/47500
Jason SenJason SenDayTradeIdeas.co.uk

Bitcoin bottomed exactly at best support for this week at 43900/600. Longs worked perfectly on the bounce to targets of 48190, 49400/500 & the only resistance of any important this week is at 50500/51000.

We topped exactly here so obviously this remains key to direction.

Ripple targets 12450/12500 before a retest of 13450/490.

Ethereum in a consolidation sideways range from 3150/3100 up to 3350/3400.

Daily analysis

Bitcoin longs at 43900/600 worked perfectly on the bounce to the only resistance of any important this week is at 50500/51000. A break above 51500 opens the door to 52900/53000 & 56700/750.

First support at 48000/47500, better support at 45700/200. Longs need stops below 44800.

Ripple through resistance at 11850/12000 to target 12450/12500 before a retest of 13450/490. A break higher targets 13615, 14410, 14540 & 14660.

First support at 12100/12090, second support at 11550/000.

Ethereum holding minor support at 3270 retests 3350/3400. A break higher is a buy signal initially targeting 3580/3600.

Second support at 3150/3100. Next target & support at 3000/2970. Longs need stops below 2940.

Chart

ETH

Author

Jason Sen

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.

More from Jason Sen
Share:

Editor's Picks

Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow

Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.
XRP falls toward key support as macro uncertainty, weak momentum cap recovery

XRP falls toward key support as macro uncertainty, weak momentum cap recovery

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.
Crypto Today: Bitcoin, Ethereum, XRP stabilize at lower levels amid ETF outflows and macroeconomic risks

Crypto Today: Bitcoin, Ethereum, XRP stabilize at lower levels amid ETF outflows and macroeconomic risks

The broader cryptocurrency market is rising on Friday, with Bitcoin (BTC) trading above $77,000 after testing lower support near $76,500. Ethereum (ETH) shows signs of stability, hovering above the support provided at $2,400 despite capped upside at $2,500. Meanwhile, Ripple (XRP) holds above $1.33 after three straight days of declines, reflecting growing headwinds due to macroeconomic uncertainty.
Bitcoin pulls back as another golden cross fails to deliver

Bitcoin pulls back as another golden cross fails to deliver

Earlier this week, Bitcoin formed a golden cross, a technical signal that occurs when the price’s 50-day moving average rises above the 200-day moving average and is conventionally viewed as a precursor to a bullish rally. Historically, however, that’s often not been the case.
Bitcoin: BTC retreats as macro headwinds grow

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.