Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
Bitcoin beat strong 200 week moving average resistance at 22500/600 SO AT LAST WE HAVE A BUY SIGNAL!!!
Ripple making a break above 1 month trend line resistance at 3500 for a buy signal!! (I have not written that for a long time) targeting 3580 & even as far as 3850/3900. I would not rule out 4300/4400 in fact.
Ethereum holding above 1500 is a buy signal!
Bitcoin beats strong 200 week moving average resistance at 22500/600 for a buy signal initially targeting 24600/700. We should struggle to beat this level, but I think shorts could be risky now. A break above 24750 signals gains as far as 26300.
Obviously bulls must hold prices above 23000/22500.
Ripple through 1 month trend line resistance at 3500 for a buy signal targeting 3850/3900, 4000 &even as far as strong resistance at 4300/4400.
Support at 3450/3350 if we fall this far.
Ethereum beat strong resistance at 1250/1300 for a short term buy signal targeting 1400 & probably resistance at 1500/1550. Targets hit as we reach 1632. Further gains are possible to 1690/1700, perhaps as far as 1800/1850. First support at 1500/1460. A break lower targets 1400/1380.
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Jason Sen, Director