Bitcoin tested first support at 44400/300 but over ran by 500 pips before the expected bounce. Outlook remains positive.

Ripple dipped further than expected, breaking first support at 9600/9500 before a bounce from 9220.

Ethereum edges higher to 3276 as we look for a test of minor resistance at 3350/80.

Daily analysis

Bitcoin topped exactly at the next target of 46750/770. Further gains eventually target 49400/500 then 50500/51000.

Bulls in control so downside is expected to be limited. First support at 44400/300. Best support at 43000/42600. Longs need stops below 42000. A break lower risks a slide to 40400/40000.

Ripple rocketed from support at 7650/7550 this week with all targets as far as 9650/9700 hit before we reached 10900. Bulls remain in control so downside is expected to be limited with first support at 9550/94050. Longs need stops below 9350. A buying opportunity at 8700/8600, stop below 8500.

With bulls in control, a break above 10900 targets 11530 then resistance at 12540-12610.

Ethereum higher from good support at 2850/2800 back up to 3276 as we look for a test of minor resistance at 3350/80. A break above 3400 is a buy signal initially targeting 3580/3600.

First support at 3050/20. Strong support at 2900/2880. Longs need stops below 2850.



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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