• Bitcoin made a high for the day exactly at strong resistance at 20300/400 & resumes the bear trend.

  • Ripple rocketed back to 50 & 100 day moving averages at 3500/3600. Prices collapsed from exactly this area.

  • Ethereum broke first support at 1700/1650 to test support at the 100 day moving average at 1500/1450. This must hold, or we resume the longer term bear trend.

Daily analysis

Bitcoin should resume the longer term bear trend now. Gains are likely to be limited with strong resistance at 20300/400. Further resistance at 20900/21000.

We dipped a little to 19600. Further losses are likely eventually & target 19500/450 then 19150/19000. Eventually a retest of the September low at 18550/500 is likely (& probably the 2022 low at 17588.

Ripple shot higher to 50 & 100 day moving averages at 3500/3600 & collapsed to my target of 3380/70. Further losses are expected now that the longer term bear trend has probably resumed, targeting 3280 (hit yesterday) & 3180/70, probably as far as last week's low at 3130/20. A break below here over the weekend is obviously the next sell signal targeting the 2022 low (so far!) at 2900/2870

First resistance at 3300/3320. Strong resistance again at 3430/80.

Ethereum tests support at the 100 day moving average at 1500/1450. This must hold, or we resume the longer term bear trend. A break below the August low at 1421 targets 1366/56 & 1250.

First resistance at 1540/80. Strong resistance at 1650/1700.

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.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Bitcoin price hears jingle bells rolling in

Bitcoin price hears jingle bells rolling in

BTC is popping higher this Tuesday morning in the ASIA PAC session as Chinese markets spurt higher. After the social unrest over the weekend and on Monday, markets are taking a turn as the Chinese government comes with more easing policy guidance and commits to speed up the vaccination rate. Markets are rallying as another supply chain glut is to be avoided, and inflation forces should decrease a bit further, triggering a rally in BTC that could continue into Christmas.

More Bitcoin news

Binance price shows promising support that could bring $400 onto quote board

Binance price shows promising support that could bring $400 onto quote board

Binance jumps over 3% as China sentiment flips into risk-on. Buyers blowing up the demand side with a bounce off a technical moving indicator.

More Binance news

Can XRP price kick-start 30% upswing if China removes zero-Covid restrictions?

Can XRP price kick-start 30% upswing if China removes zero-Covid restrictions?

XRP shows that it is taking its sweet time to overcome and sustain above a crucial resistance level. If successful, it could catalyze a quick run-up.

More Ripple news

Solana price set to gear up for Dominica coming online with cryptocurrency

Solana price set to gear up for Dominica coming online with cryptocurrency

Get set for the Commonwealth of Dominica to introduce a new coin. SOL should see a positive tailwind from the Tron network rolling out the Domnica Coin.

More Solana news

Bitcoin: Assessing chances of one last bear market rally for 2022

Bitcoin: Assessing chances of one last bear market rally for 2022

BTC is in a good place to trigger another bear market rally from a high-time frame perspective. This development, combined with the optimistic outlook seen in on-chain metrics, further strengthens the possibility of a happy ending to 2022.

Read full analysis

BTC

ETH

XRP