Bitcoin, Ripple & Ethereum remain in sideways trends.

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Bitcoin bulls held prices above the 500 day moving average at 43600 for a buy signal targeting 46600/800 & the 200 day moving average at 48100/300. A high for the day exactly here & shorts here worked perfectly on the collapse from 48226 to 45800/600 & support at 44200/44000 for an easy 4000 pips.

Ripple collapsed from just below very strong resistance at 9140/9160 & broke first support at 8450/00 yesterday to hit the next target of 8050/8000 before a low just 100 pips above support at 7700/7650.

Ethereum made a high for the week exactly at key resistance 3450/3500. Shorts worked perfectly on the collapsed as far as support at 3210/3190. Longs need stops below 3150.

Update daily by 06:00 GMT

Today’s Analysis

Bitcoin tests the best support for today at 44200/44000. Longs need stops below 43500. A break lower is a sell signal targeting 42000/41500. This is the last line of defence for bulls – a break below 41000 is a medium term sell signal, initially targeting 40000 & the March low at 37500/37000.

Strong resistance at the 200 day moving average at 48100/300 over the weekend. Obviously bulls need a break above 48700 for a buy signal.

Ripple holding above 8100 today allows a recovery to first resistance at 8400/8500. If we break higher look for 8730/50, perhaps as far as 8850. Further gains retest very strong resistance at 8950/90.

Holding below 8050 tests support at 7700/7650. Longs need stops below 7600. A break lower is a sell signal targeting 7400/7350 then 7000/6950.

Ethereum tests support at 3210/3190. Longs need stops below 3150. A break lower targets 312010 then very strong support at 3050/10. :ns 2950. A break below 2850 is a medium term sell signal.

Key resistance at 3450/3500. Shorts need stops above 3550. A break higher is another buy signal targeting 3620/30 & 3710/40.
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#bitcoin #btc #XRP #ETH #ethereum #Ripple #cryptotrading #cryptocurrency #crypto

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