Bitcoin managed a small bounce in the bear trend to my 32000/32100 level and collapsed again as expected in the bear trend. Obviously outlook remains negative.
Ripple broke the 100 week moving average at 6700/6750 and then 9 month trend line support at 5680/40 as predicted for another sell signal targeting 4300/4250. No trouble hitting that target!! We have hit 3450 and of course the outlook remains negative with further significant losses expected.
Ethereum broke the 500 day moving average at 2800/2750 as predicted for an important sell signal hitting all downside targets as far as 1920. A huge profit ion shorts and the outlook remains negative with further significant losses expected as panic sets in.
Today's Analysis
Bitcoin break below 28600 is our next important sell signal as we hit 27000. Huge profits on our shorts this week. Further losses are expected of course, as we look for 25800/700 and 24400/200, eventually as far as 21900/700.
Gains are likely to be limited as I always write!! Resistance at 28800/29000 and 30000/30200.
Ripple panic has set in & I imagine stops have been triggered after important levels were broken as we target 3400, 3200, 300 and eventually 2500. Huge profits on our shorts this week.
Ethereum crashed after my new sell signal to my target of 1920. Next target is the 8 month trend line support at 1800/1700. I would not try longs myself. A break below here is obviously another important sell signal. Losses could then accelerate to the downside. We could hit 1300 very quickly.
Gains are likely to be limited with strong resistance at 2100/2200. Shorts need stops above 2300.
2900/2950. Shorts need stops above 3000. A break higher is a medium term buy signal.