Since our last crypto analysis, bitcoin has been extremely bullish and has broken a number of resistance levels. Price is up-trending but has been finding resistance around 12863. The moving averages are bullish and steady, signalling that the upside momentum could continue.
Opportunities to go long may exist around the dynamic support of the moving averages, around any of the key Fib levels and around the horizontal levels at 8354 and 6110. A bullish move could be rejected or reverse around the recent swing high and resistance at 12863.
As suggested in our last crypto analysis, price has reversed around the horizontal level at 360. Ethereum continues to be indecisive and lack trend direction. The moving averages confirm the market indecision – they are moving sideways.
Trading opportunities could exist around the support and resistance areas of the range and if price closes out of the range (break-out trade).
Ripple continues to be indecisive and range between 0.25 and 0.58 (as suggested in our last crypto analysis). The moving averages are tight and are moving sideways – confirming the current indecision.
Trading opportunities may exist around the support and resistance areas of the range and if Ripple moves out of the range (break-out trade).
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