appears to be forming a bear flag. This means we are consolidating in the short term bear trend and are likely to break lower for a sell signal.
XRP tests important 38.2% Fibonacci and short term moving average resistance at 1.0515/1.0545. Shorts need stops above 1.1100.
still holding strong resistance at 2750/2800.
Bitcoin in a bear flag from support at 34700/500 up to resistance at 38000/500. Try shorts here, stop above 39500. A break higher tests 200 day moving average resistance at 41300/500. Try shorts here, stop above 43000.
A break below 34200 is a sell signal targeting 31100/3000. Although I had us buying here last time, this time it is more likely we will break lower to my ultimate target for the head & shoulders sell signal at 27500/27000.
Ripple shorts at strong resistance at 1.0515/1.0545 re-target 0.9400/9300. On further losses look for 0.9000/0.8980 & 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.
We are testing 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.
Ethereum shorts at strong resistance at 2750/2800 need stops above 2900. A break higher is a buy signal targeting 3050/3100, perhaps as far as strong resistance at 3300/3400. Shorts need stops above 3500.
Holding first resistance at 2750/2800 re-targets 2550/2480, perhaps as far as minor support at 2380/2350. If we continue lower in the 3-week bear trend, look for 2140/30 before a retest of important 61.8% Fibonacci support at 1728.
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