—if you've been following me on social media since May 11, you will know that I predicted the crypto crash, after spotting a 2 month head & shoulders reversal pattern, which completed on May 17 for a clear sell signal.

I also suggested longs at 31100/30000. We bottomed exactly there and shot higher to first resistance at 37000/38000 for an easy 7000 ticks profit.

Yesterday, we topped exactly at the 200-Day Moving Average resistance at 40500/800.

Outlook is negative for today.

XRP shorts at 38.2% Fibonacci and short-term moving average resistance at 1.0515/1.0545 worked perfectly on the sell off to the first target of 0.9000/0.8970. Yesterday we topped exactly at resistance at 1.0515/1.0545 with shorts working again.

longs at the 1730 area worked perfectly on the 1000 tick (or 58%) rally to strong resistance at 2750/2800. We topped exactly here yesterday and shorts at 2750/2800 worked perfectly as we sold off to the first support at 2400/2350. We bottomed exactly here and longs worked on the bounce back to 2750/2800 for a another 700 pips yesterday.

A total potential profit of 1700 PIPs already this week just in ETH.

Today’s Analysis

Bitcoin hit the 200-Day Moving Average resistance at 40500/800 exactly as predicted and topped exactly here. Shorts need stops above 41000. A break higher is a buy signal targeting the head & shoulders neckline at 43600/43800. Shorts need stops above 44000.

Shorts at the 200-Day Moving Average resistance at 40500/800 target 38800/700 (already hit), perhaps as far as minor support at 37100/37000 (our target for today). Further losses risk a slide to 35500 and a retest of strong support at 31100/30000, just above my ultimate target for the head & shoulders sell signal at 27500/27000.

Brave bulls can try longs again at 31100/30000, but be aware that my ultimate target for the crash was 27500/27000. So save some funds to add to longs here. However, longs need stops below 25500. A break lower signals significant further losses are likely.

Ripple retests the important 38.2% Fibonacci and short-term moving average resistance at 1.0515/1.0545. Shorts need stops above 1.1100. A break higher is a buy signal targeting 1.1700/1.1800, perhaps as far as 1.3000/1.3500.

Shorts at strong resistance at 1.0515/1.0545 re-target first support at 0.9000/0.8980, perhaps as far as 0.8050/30. Again expect very important 6 month trend line and 200-Day Moving Average support at 0.7040-0.6558 to hold the downside.

Brave bulls or longer term investors can try longs with stops below 0.6400. If prices hold below here, then all is lost for the bulls and a further significant correction to the downside looks likely. Initially we can target 0.5100 – 0.4800.

Ethereum struggles at strong resistance at 2750/2800. Shorts need stops above 2900 for another buy signal targeting 3050/3100, perhaps as far as strong resistance at 3300/3400. Shorts need stops above 3500.

Shorts at 2750/2800 target minor support again at 2400/2350. A break lower targets 2140/30 before a retest of the important 61.8% Fibonacci support at 1728.

Brave bulls can try longs here again and can also average down, buying a little more at the 200-Day Moving Average at 1600. It is entirely possible that this will be the low for the crash.

Longs MUST stop below 1500. A break lower kills the recovery hopes and risks a slide to 1300/1250. Although the decline may pause here, I do not see this as a strong support level and longs would be extremely risky.

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 realized. 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.

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