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Crypto Resistance

By Jason SenCryptocurrencyOct 15, 2021 04:03AM ET
www.investing.com/analysis/crypto-resistance-200605178
Crypto Resistance
By Jason Sen   |  Oct 15, 2021 04:03AM ET
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Bitcoin dipped to 55900, holding just above support at 53600/500 as we hit the next target of 58500 and resistance at 59400/600 this morning as predicted.

Ripple we are long at strong support at 10800/10700. This trade worked perfectly as we hit 11450, hopefully on the way to minor resistance at 12000/12100.

Ethereum we are long at 3500/3450 with a nice profit on the bounce to 3550/3600, 3700 and now the next target of 3830/50.

Today’s Analysis

Bitcoin tests resistance at 59400/600 as predicted for profit taking perhaps, but shorts are too risky. A break above 59700 is our next buy signal targeting 60500/700 then 61600/800. Above here look for a retest of the all time high at 64600/900.

Downside is expected to be limited with support at 57900/600. Longs need stops below 56700. A buying opportunity at 54000/500. Longs need stops below 53300.

Ripple struggles at 11450 but should eventually test minor resistance at 12000/12100. A break above the high for the bounce at 12290 targets 12970/12980. Above 13000 look for 13400/500.

Strong support at 10800/10700. Longs need stops below 10300. A break below here targets 9700/9600.

Ethereum longs at 3500/3450 worked perfectly on the bounce to 3550/3600, 3700 and now the next target of 3830/50. There is important trend line resistance right here at 3870/3900. Bulls need to clear the September high at 4000/4030 for the next buy signal and it could be a straight run to the all time high at 4355/85.

First support at 3690/50. Second support at 3450/3400.

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

Crypto Resistance
 

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Crypto Resistance

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