Bitcoin beat 55300/500 in the bull trend as the a bull flag pattern completed & we hit the next target of57000, then held half way to 58500.

Ripple broke minor support at 14050/113400 to test strong support at 10800/10700. Longs need stops below 10300.

Ethereum edging slowly above minor resistance at 3400/3450 so this is now as support level.

Daily analysis

Bitcoin hit the next target of 55300/500 & 57000 as we look for 58500 & perhaps as far as resistance at 59400/600 in to the end of the week.

Downside is expected to be limited with support at 53600/500. Longs need stops below 53400. Strong support at 50900/800. Longs need stops below 49500.

Ripple has paused at minor resistance at 12000/12100 as predicted but broke minor support at 14050/113400 to test strong support at 10800/10700. Longs need stops below 10300. A break below here targets 9700/9600.

We are holding minor resistance at 12000/12100. A break above the high for the bounce at 12290 this week targets 12970/12980. Above 13000 look for 13400/500.

Ethereum beats minor resistance at 3400/3450 for the next target 3550/3600 & to just 25 pips from 3700. On further gains look for 3830/50 before a retest of the September high at 4000/4030

Outlook positive as long as we hold first support at 3500/3450 (although we spike down to 3375 yesterday before a quick recovery. A break below 3350 however risks a slide to strong support at 3170/3150. Try longs with stops below 3100. 

Chart

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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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