Bitcoin shorts at strong resistance at 34000/35000 working perfectly as we break below 32000 is a sell signal targeting 31000/30500 before a retest of 29000/28500.

All exactly as predicted over the past days.

Ripple remains in a bear trend, with a descending triangle pattern. Shorts at strong resistance at 0.6315/35 worked perfectly so far as we hit first target of 0.6000/5900.

Ethereum shorts at strong resistance at 2300/2350 working perfectly as we break below the 200 day moving average at 2000 for another sell signal.

Outlook remains negative for crypto….and down we go as expected! 

Daily analysis

Bitcoin topped exactly at strong resistance at 34000/35000. Our shorts here worked perfectly as we break below 32000 for a sell signal targeting 31000/30500 before a retest of 29000/28500. A double bottom here would help to turn the medium term outlook positive, although this is looking increasingly unlikely now. Watch for support at 27500/27000 on any further losses.

Strong resistance at 34000/34500 again today. A break above here is a short term buy signal targeting 36500, 38500/600 & perhaps as far as 40000/41000.

Ripple shorts at strong resistance at 0.6315/35 working as we target 0.6000/5900 before a retest of 0.5200/5100. The 2019 high is at 0.4940. A break below here is catastrophic for bulls & risks a slide to 0.4400/4350.

Strong resistance at 0.6315/35. Shorts stop above 0.6600. A break higher can target 0.7300/0.7400. Watch for a high for the day. A break higher however can target 0.7800, perhaps as far as 0.8000/8100.

Ethereum outlook negative as we hold strong resistance now at 2200/2250 We are just breaking below the 200 day moving average at 2000 for a sell signal targeting 61.8% Fibonacci support at 1728. I very much doubt this will hold a third time. A break below 1700 is yet another sell signal.

Bulls desperately need prices to hold above 2000 but they really need a break above 2200 for full control in the short term to retest last week’s high at 2400. We should struggle to beat this level here but if we continue higher expect resistance at the 100 day moving average at 2550/2600.



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

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

US Treasury to launch formal review on stablecoins, Tether scrutinized ahead of oversight talks

The United States Treasury Department is preparing to present a report to the President’s Working Group for Financial Markets on stablecoin risks.

More Tether news

ICX Price Prediction: ICON prepares for 20% descent as bulls fade away

ICON price looks ready for a swift downswing after an explosive run over the past ten days. The crypto markets’ slowdown after the recent run-up makes this bearish scenario a perfect fit.

More Icon news

Avalanche Foundation raises $230 million to accelerate DeFi growth, AVAX surges to new record high

The Avalanche Foundation has announced a new investment round from a venture capital group led by Polychain Capital and Three Arrows Capital. The $230 million raised will support liquidity on the network’s DeFi ecosystem.

More Cryptocurrencies News

Ethereum Classic Price Prediction: ETC coils up for 40% upswing

Ethereum Classic price has been consolidating for about nine days without a clear directional bias. However, ETC shows that it is nearing a crucial support floor on a higher time frame, and an uptrend seems likely.

More Ethereum Classic news


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast