Bitcoin, Ripple And Ethereum Forecasts

trades sideways in what looks more like a consolidation of the bear trend than a reversal pattern. This means we are more likely to head lower eventually as we hold strong resistance at 35500/36000.

However, a break above 36500 is a short term buy signal so be ready to reverse out of any shorts and in to longs.

managing a small recovery to strong resistance at 0.7100/7300. This is now key to direction. So bulls need a clear break above here for a short term buy signal.

has climbed steadily to strong resistance at 2300/2350 in to the end of the week.

Today’s Analysis

Bitcoin shorts at very strong resistance at 35500/36000 target minor support at 33500/33000. A break below 32500 this week sees 31700/500 before a retest of 29000/28500. A double bottom here would help to turn the medium term outlook positive, although this is looking increasingly unlikely now. Watch for support at 27500/27000 on any further losses.

Strong resistance at 35500/36000 has been tested through most of Sunday. A break above 36500 however is a short term buy signal targeting 38600 and 40000/41000, perhaps as far as resistance at 42400/800.

Ripple crawls higher towards strong resistance at 0.7100/7300. Shorts here target 0.6660/0.6560. On further losses look for 0.6340/6260. A break below 0.6200 then targets 0.6000/5900 before a retest of 0.5200/5100. The 2019 high is at 0.4940. A break below here is catastrophic for bulls and risks a slide to 0.4400/4350.

Shorts at strong resistance at 0.7100/7300 need stops above 0.7350. A break higher can target 0.7800, perhaps as far as 0.8000/8100.

Ethereum bounces back to strong resistance at 2300/2350. Shorts need stops above 2400. A break higher is a buy signal targeting strong resistance at 2600/2650. Bulls then need a break above 2700 for a longer term buy signal.

Holding strong resistance at 2300/2350 targets first support at 2200/2150. If this holds the downside bulls are in with a chance to start to take control longer term. Longs need stops below 2050. A break below here is a sell signal targeting 1950 and probably 61.8% Fibonacci support at 1728.

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.