Daily analysis by DayTradeIdeas - 14/06/2022

Daily analysis by DayTradeIdeas - 14/06/2022

On November 16th 2021 I made a video warning of a potential crypto crash, with Bitcoin initially expected to drop 20% immediately from the record high. (See video). Since then I have predicted crypto to continue to break support levels & head lower. The crash has been deep & way beyond what anyone else had expected back in November or December 2021.

Here is today’s update:

Bitcoin broke lower at last as expected & crashed 3000 pips to all targets as far as the 200 week moving average at 22250/150.

Ripple headed lower as expected hitting my targets as far as 3350/3300, 3200 & 3000

Ethereum has crashed as predicted to all targets as far as 1130/00 & would you believe this is almost the exact low at this stage.

Today's Analysis

Bitcoin has crashed as far as my target of the 200 week moving average at 22250/150. We over ran as far as 20800 but has seen a good recovery to 23300 so the important support has in fact held. If this does not hold over the summer (although it is likely to initially) it is goodnight crypto - last one out put the chairs on the table!

Bulls are praying that the crash low is in - I cannot say I believe this but we are certainly seeing a bout to first 23.6% Fibonacci resistance at 23250/350. Above 23400 opens the door to 24000. Unlikely but if we continue higher we could test strong resistance at 24900/25300.

Ripple gains are likely to be limited in the crypto crash. Holding very minor support at 3120/00 allows a recovery to first resistance at 3220/40. Above 3300 meets strong resistance at 3400/30.

We held just below 3000 but eventually are expected to target 2500. Just depends on how far the bounce can go before the next collapse.

Ethereum continues lower as predicted with another important sell signal as losses accelerate to the downside hitting all targets as far as 1130/00. Gains are likely to be limited with minor resistance at 1290/1310 & 1425/45. If we unexpectedly continue higher expect strong resistance at 1650/1700.

A break below 1070 (likely eventually) targets 905890 & we even have a gap to fill at 792.

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Jason Sen

Jason Sen

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason used technical analysis throughout his trading career and formed Daytrdeideas.co.uk which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders. daytradeideas.co.uk