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    Home»Analytics»Bitcoin breakout above $45,800 is a strong buy signal
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    Analytics

    Bitcoin breakout above $45,800 is a strong buy signal

    AdministratorBy Administrator03.03.2022No Comments1 Min Read
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    Reading time: ~1 m


    Bitcoin is currently trading below strong resistance at $44,100. Stops above $45,000 are needed for short positions, and a break above the February high at $45,800 would be a strong buy signal.

    Short positions with strong resistance at $44,100 target $42,000 with support at $40,800. However, if we continue lower, a move to $39,300 is possible.

    XRP maintains some pretty strong resistance at $0.8. Short positions need stops above $0.82, a buy signal should target $0.8400, $0.85 and possibly a 2-week high at $0.86.

    Failure to clear the strong $0.8 resistance could see a pullback to $0.756, possibly to support at $0.73. Below there could be targets of $0.709, possibly as low as $0.689.

    Ethereum broke resistance at $2,790, forming a buy signal targeting resistance at $3,025. A break above $3,100 would retest the February high at $3,200.

    Shorts at $3,025 target intermediate support at $2,870 and possibly $2,700. Strong support from $2,660 to $2,560 should again contain any fall.




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    Bitcoin Breakout buy Signal strong
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