- Bitcoin holding first resistance at 43500/44000 all day.
- Ripple reaches minor resistance at 9700/9900 for profit taking on our longs.
- Ethereum high for the day exactly at first resistance at 3130/60 just as predicted.
- Today’s Analysis
Bitcoin is holding first resistance at 43500/44000 all day (in what I think is a developing bear trend) re-targets 42000/41500. A break below 39500 then targets 37300/37000. I would not rule out 34500/300 and even more losses in to October.
Bulls need a break above 44500 to target 45000/100 with strong resistance at 46500/47500. Shorts need stops above 48000 for a medium-term buy signal.
Ripple reaches minor resistance at 9700/9900 for profit-taking on our longs. Above 10000, however, meets strong resistance at 10250/10350. A break higher can target strong resistance at 10710/10780. Shorts need stops above 11000. Best support again is at 8600/8550. A break below 8500 is a sell signal targeting 8000/7950 & 7600.
Ethereum's high for the day exactly at first resistance at 3130/60, just as predicted. Shorts need stops above 3250. A break higher targets 3300/3320 and resistance at 3400/3450. Shorts need stops above 3500. Shorts at at 3130/60 target minor support at 2960/50. Best support at 2700/2600 for profit-taking on any remaining shorts. Longs need stops below 2500. A break below here is an important medium-term sell signal, initially targeting 2440 then 2250/2220.