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Bitcoin Holding Resistance, But Don't Rule Out More Losses In October

By Jason SenCryptocurrencySep 23, 2021 12:46PM ET
www.investing.com/analysis/bitcoin-holding-resistance-but-dont-rule-out-more-losses-in-october-200602888
Bitcoin Holding Resistance, But Don't Rule Out More Losses In October
By Jason Sen   |  Sep 23, 2021 12:46PM ET
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  • 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.

Bitcoin Holding Resistance, But Don't Rule Out More Losses In October
 

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Bitcoin Holding Resistance, But Don't Rule Out More Losses In October

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Comments (2)
Ikechukwu Joshua
Ikechukwu Joshua Sep 26, 2021 7:01AM ET
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Mr Jason please help me I need your help how can I be earning money
John Carter
John Carter Sep 26, 2021 7:01AM ET
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just buy Ethereum at 2600 and hold
Woleola kola
Woleola kola Sep 24, 2021 3:06AM ET
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thank you Mr Jason let's see how it goes
 
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