Bitcoin: Gains are likely to be limited in the bear trend [Video]

Daily analysis

Bitcoin breaks support at 40800/400 for profit-taking. Longs could be risky in the bear trend, but if you try, stop below 40000 (& look for a target of 42800). However, if we continue lower look for 39300/200 & 38000/37700, eventually as far as 33300/31100.

Gains are likely to be limited in the bear trend with minor resistance at 42300/500 then strong resistance at 44000/200. Shorts need stops above 45000.

Ripple just holding support at 7300/7280 but below here can target 7090/70, perhaps as far as support at 6890/6870. On further losses in the bear trend look for 6730/6690.

Minor resistance at 7550/7650. Strong resistance at 7800/7850 should be the best sell opportunity of the week.

Ethereum shorts at 3025/55 worked perfectly targeting minor support at 2870/40 & as far as 2750/2700 before the weekend for some profit-taking. However further losses look likely eventually to strong support from 2660 down to 2560 which did hold the downside again as I write on Sunday. A break lower eventually however does look likely to the 500 day moving average at 2490/80. WE HAVE NOT HAD A DAILY CLOSE BELOW THE 500 DMA FOR ALMOST 2 YEARS. If this happens now it would be an important sell signal.

Gains are likely to be limited in the bear trend with resistance at 2790/2810 & again at resistance at 3025/55 with a high for the day exactly here. A break above 3100 retests the February high at 3200/3280.