Bitcoin, XRP, Ethereum

Bitcoin (BTC)

Bitcoin (BTC) has been trading sideways for the past 24-hours. In this period, it has been oscillating between $3517.7 and $3422.2. This is an indicator that the market is still looking for direction. As such, to trade in Bitcoin (BTC), it would be best to wait for a clear break either to the upside or to the downside. If it breaks out to the upside and pushes above the 200-day MA at $3594.2, it would be a signal to go along with a target of $3739.5. This is a key resistance level for Bitcoin (BTC) on the 3-hour 200-day MA. A break above this could see Bitcoin test the psychological $4000 resistance level in the day.

However, in the event that Bitcoin breaks out to the downside and pushes below the 24-hour low of $3422, it would be an indicator that bears are taking control of the market. This would be a trigger to go short on Bitcoin (BTC). A short position at this level would have a good exit point at $3264.9. This is a key support level for Bitcoin (BTC) on the 12-hour chart. It is also a key support level on the weekly 200-day MA and a possible long-term reversal point for Bitcoin (BTC) before the next Bull Run.

XRP (XRP)

XRP (XRP) has been trading sideways for the past 24-hours. In this period, it has been trading up and down between $0.297 and $0.289. This is an indicator of investor indecision coupled with low trading volumes. To trade in XRP (XRP), it would be best to wait for a break either to the upside or the downside, with high volumes. To go long on XRP (XRP), it would be best to wait for a break above the 200-day MA at $0.314. This would be an indicator of heavy bullish sentiment, and a trigger to go along with a target of $0.335. This is a key resistance level for XRP (XRP) on the 3-hour 200-day MA.

However, in the event that XRP (XRP) breaks out to the downside, and pushes below the day’s low of $0.284, it would be a trigger to go short with a target of $0.264. This is a key support level on the one day chart and a possible exit from a 24-hour short position.

Ethereum (ETH)

Ethereum (ETH) has been trading sideways for the past 24-hours between $108.35 and $104.17. To go long on Ethereum (ETH), it would be best to wait for a break above the 200-day MA at $115.6. This would be a trigger to go long on Ethereum (ETH) with a target of $128.68. This is a key resistance level for Ethereum (ETH) on the 3-hour 200-day MA.

On the other hand, if Ethereum breaks out to the downside and pushes below the 24-hour low of $103.11, it would be a signal to go short with a target of $85.23. This is a key support level for Ethereum (ETH) on the 12-hour chart and a possible exit point in the day. A break below this could see Ethereum possibly drop to $60 in the near-term, though this is highly unlikely.

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