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Bitcoin: A Break Above $25,000 Is A Buy Signal

By Jason SenCryptocurrencyAug 17, 2022 08:07AM ET
www.investing.com/analysis/bitcoin-a-break-above-25000-is-a-buy-signal-200628633
Bitcoin: A Break Above $25,000 Is A Buy Signal
By Jason Sen   |  Aug 17, 2022 08:07AM ET
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Bitcoin holding very strong resistance at 24800/25000 and this does look like a large bear flag forming - so a break lower would be expected eventually.

Ripple is holding first support at 3650/3600, which gives some hope to bulls.

Ethereum must now hold first support at 1850/1800 to target 2000/2020 and 2100/2120.

Today's Analysis

Bitcoin bounced to targets of 23400/500 and 24200/300 with very strong resistance at 24800/25000. A break higher is another buy signal targeting 26000, perhaps as far as 26300/400.

Shorts at very strong resistance at 24800/25000 target 23250/150. On further losses look for 22300/100, perhaps as far as the lower trend line of the bear flag at 21000/20900. A break below 20800 therefore is an important sell signal.

Ripple reverses from first resistance at 3800/50 but holds first support at 3650/3600. A break lower targets 3450/3400. Below here is a sell signal targeting 3200.

Holding first support at 3650/00 targets first resistance at 3800/50. A break above 3900 targets 4000 and 4100.

Ethereum beat strong resistance at 1820/50 and obviously bulls must hold prices above here to target 2000/2020 and 2100/2120. If we continue higher look for 2230.

Failure to hold above 1800 is a sell signal, initially targeting 1680/60 then strong support at 1530/1480.

Bitcoin: A Break Above $25,000 Is A Buy Signal
 

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Bitcoin: A Break Above $25,000 Is A Buy Signal

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Comments (3)
Aug 19, 2022 8:16AM ET
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What **** is this article? 🤣
Shakti Bedi
Shakti Bedi Aug 19, 2022 1:49AM ET
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No Resistance or Support works in Crypto ,You people are just predicting for the sake of Prediction,No use ,At the same time everything goes in Red ,Meaning All Crypto Prices are Controlled by exchanges at same time and Same Level , This is all a Scam ,Stay away from Crypto ,Buy only Gold and Silver .
Mohd Izhar Muslim
Mohd Izhar Muslim Aug 17, 2022 2:03PM ET
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Thank you for sharing the article 💯
 
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