Bitcoin longs from anywhere above 60000
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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.
Author
Jason Sen
DayTradeIdeas.co.uk
