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Bitcoin was edging very slowly higher but I was not convinced this was the start of a bull trend.
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Ripple was seeing consolidation and narrowing ranges, but I don't not think this was a base-building exercise. Same levels apply for today.
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Ethereum, however, did see a push higher.
Today's Analysis
Bitcoin was edging very slowly towards strong resistance at the 500 day moving average at 40400/40600. Above here, it would meet the 23.6% Fibonacci resistance at 41400/500. Minor support levels for scalpers were at 37900/700 and 36900/800. Further losses targeted 36200/36000.
Ripple held first resistance at 6560/90 last week as predicted and was holding 6300 so far this week. A break below the 100 week moving average at 6000/5900 obviously adds pressure for a retest of the low at 5600/5500. I would not bet on this holding on the next test and a break lower is an obvious sell signal.
Look for a test of the last big swing low at 5100/5080. Again I doubt this will hold for long and a break below here is a disaster for bulls. Prices could go into free fall!!!
Gains were likely to be limited and I doubt we will beat resistance at 6560/90. A break higher however would meet a sell opportunity at 7350/7450. Stop above 7550. A break higher was a nice medium term buy signal. Buy and hold!!
Ethereum was testing first resistance at 2800/2820 and was holding here as I write. Shorts needed stops above 2870. A break higher would target 2920, perhaps as far as strong resistance at 3000/3050. Shorts at 2800/2820 targeted 2660/20, perhaps as far as 2570/50.
Video analysis