Title: Bitcoin A break above 25000 is a buy signal

Aug 17, 2022 3:07:47 AM ET

By: AnalysisWatch

A breakdown is to be expected.

Ripple holds first support at 3650/3600, which gives some hope to the bulls.

Ether now needs to hold first support at 1850-1800 to head towards 2000/2020 & 2100/2120.

Daily Analysis

Bitcoin bounced to 23400, 500 & 24200, 300 targets with very strong resistance at 24800 & 25000. A break higher is another buy signal with a target of 26000 and maybe even 26300/400.

Short at strong resistance at 24800/25000, with a target of 23250/150.On further losses, look for 22300/100, maybe all the way to the lower trend line of the bear flag at 21000/20900. Therefore, a break below 20800 is an important sell signal.

Ripple reverses from first resistance at 3800/50 but holds first support at 3650/3600. A break lowers the targets to 3450 or 3400. Further down, there is a sell signal with a target of 3200.

Holding first support at 3650/00 targets first resistance at 3800/50. A break above 3900 targets 4000 and 4100.

The bulls obviously need to hold prices above this to target 2000/2020 and 2100/2120. If we continue higher, look for 2230.

Failure to hold above 1800 is a sell signal, initially targeting 1680/60 and then the strong support at 1530/1480.