Bitcoin bottomed exactly at best support for this week at 43900/600. Longs worked perfectly on the bounce to 47000 this morning.
Ripple staging a choppy recovery through resistance at 11850/12000 to the next target of 12450/12500.
Ethereum longs at our buying opportunity at 2970/50 worked and we bottomed exactly here this morning again.
Today’s Analysis
Bitcoin longs at 43900/600 target 45000/300 and minor resistance at 46150/450.
Above 47000 can retest 48190. Further gains eventually target 49400/500 then 50500/51000.
Best support at 43900/600. Longs need stops below 42900. A break lower is a sell signal targeting 41000/40500 and 39500, probably as far as 38000.
Ripple through resistance at 11850/12000 to target 12450/12500 before a retest of 13450/490. A break higher targets 13615, 14410, 14540 and 14660.
First support at 11540/510. Further losses target 10850 before strong support at 10350/10100. A break below 10000 risks a slide to 9350/9300.
Ethereum longs at our buying opportunity at 2970/50 worked perfectly as we bounce to minor resistance at 3180/3210 for some profit taking. A break higher retests 3325/35. Above 3350 targets 3400 and above here is a buy signal initially targeting 3580/3600.
A buying opportunity at 2970/50. Longs need stops below 2900. A break lower us a sell signal targeting 2850 then strong support at 2750/2700 for profit taking on shorts.
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