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Bitcoin Should Resume The Longer Term Bear Trend

By Jason SenCryptocurrencySep 16, 2022 04:38AM ET
www.investing.com/analysis/bitcoin-should-resume-the-longer-term-bear-trend-200629923
Bitcoin Should Resume The Longer Term Bear Trend
By Jason Sen   |  Sep 16, 2022 04:38AM ET
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  • Bitcoin made a high for the day but resumes the bear trend
  • Ripple rocketed back to 50 and 100 day moving average
  • Ethereum broke first support at 1700/1650 to test support at the 100 day moving average 

Bitcoin should resume the longer term bear trend now. Gains are likely to be limited with strong resistance at 20300/400. Further resistance at 20900/21000.

We dipped a little to 19600. Further losses are likely eventually and target 19500/450 then 19150/19000. Eventually a retest of the September low at 18550/500 is likely (and probably the 2022 low at 17588.

Ripple shot higher to 50 and 100 day moving averages at 3500/3600 and collapsed to my target of 3380/70. Further losses are expected now that the longer term bear trend has probably resumed, targeting 3280 (hit yesterday) and 3180/70, probably as far as last week's low at 3130/20. A break below here over the weekend is obviously the next sell signal targeting the 2022 low (so far!) at 2900/2870

First resistance at 3300/3320. Strong resistance again at 3430/80.

Ethereum tests support at the 100 day moving average at 1500/1450. This must hold, or we resume the longer term bear trend. A break below the August low at 1421 targets 1366/56 and 1250.

First resistance at 1540/80. Strong resistance at 1650/1700.

Bitcoin Should Resume The Longer Term Bear Trend
 

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Bitcoin Should Resume The Longer Term Bear Trend

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Muhammad Luqman
Muhammad Luqman Sep 19, 2022 12:52AM ET
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he'll
Waqas ahmad
Waqas ahmad Sep 17, 2022 9:10AM ET
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I have use Bitcoin buy yes ya on
Akinrotimi Ayomide
Akinrotimi Ayomide Sep 17, 2022 9:10AM ET
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do you trade btc
 
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