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Bitcoin rockets from best support at 60500/60000 & through the all time high at 66500/67000 as predicted, initially targeting 69500/70000.
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Ripple through 6 month trend line resistance at 12300/400 for a buy signal.
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Ethereum longs at best support at 4380/4340 work on the run to the next target of 4800.
Daily analysis
Bitcoin longs from anywhere above 60000 this trade worked perfectly as we beat 66500/67000 as expected initially targeting 69500/70000. We should struggle so do not be surprised to see some profit taking. However a break above 70000 is a good buy signal & can take us as far as 70000/78000.
Downside is expected to be limited with first support at 67000/66500. Longs need stops below 66000.
Ripple break above 12400 is an important medium term buy signal initially targeting 12800/850 & 13050.
Support at 12300/12200. Best support at 11800/11700. Longs need stops below 11600.
Ethereum longs at best support at 4380/4340 worked on the bounce back above 4475/55 to the targets of 4600/50 & 4800 & hopefully as far as 4950/5000 this week.
Downside is expected to be limited with minor support at 4650/40. Best support at 4520/4480. Longs need stops below 4430.
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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