Bitcoin: Technical picture remains negative [Video]

Steve O'Hare Signal Centre

Weekly

Technical picture remains negative clearly highlighting a POTENTIAL head & shoulders formation. A break and close below the neckline ($30k) would confirm this for me.

Daily

Chart shows an impulsive move lower and currently trading within wave 4 (corrective) prior to the 5 th and final wave. Resistance sits in front of $42k with next supports at $30k & $20k.

4-Hour

Range bound and trading within a rectangle formation. Near term support between $30-31k has held 4 times and a break of here should lead to a fast move lower towards $18-20K. Resistance comes in at $36k before $41-43k.

Author

Steve O'Hare

Signal Centre

Steve has over 30 years of trading experience in Commodity, Equity and Fixed Income markets, in both research and trading.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.