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Cryptocurrency Forecast

By Jason SenCryptocurrencySep 17, 2021 06:00AM ET
www.investing.com/analysis/cryptocurrency-forecast-200602250
Cryptocurrency Forecast
By Jason Sen   |  Sep 17, 2021 06:00AM ET
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Bitcoin edges higher through first resistance at 47000/47500 for a more positive outlook…as long as we hold above here this weekend.

Ripple stable and holding first resistance at 11170/11340 to keep the outlook negative. Ethereum beat short term moving averages at 3350/3400 for a more positive outlook initially targeting 3650/3700…we topped exactly here so far this week.

Today’s Analysis

Bitcoin beat the 200 dma at 46000 and strong resistance again at 47000/47500 for a more positive outlook initially targeting 49000/49200. We should struggle to beat this level but shorts are too risky now I think. Further gains eventually target 50300/800.

First support at 47500/47000. The 200 day moving average at 46000/45700 must hold or the outlook turns negative. Further losses retest 44300/44000.

Ripple holding first resistance at 11170/11340 retests Tuesday’s low at 10550/10250. Although we bottomed exactly here I favour a break to the downside eventually. Further losses target 9700/9650. If we continue lower look for 9050/30, perhaps as far as strong support at 8600/8550.

First resistance at 11170/11340 with strong resistance at 11650/11950. Bulls need prices to hold above 12000 for a more positive outlook for ne, initially targeting 12550/12650.

Ethereum beat short term moving averages at 3350/3400 for a more positive outlook initially targeting 3650/3700 (hit), perhaps as far as 3810/20 before a retest of last week’s high at 4010/30.

First support at 3400/3350. Second support at 3150/3050.

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.

Cryptocurrency Forecast
 

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Cryptocurrency Forecast

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