3SigmaMarkets BTC, XRP, ETH Outlook Report 14th Sep 2021
Bitcoin
BTC price action appears to be a corrective pullback, the price is trading below 20/50 and 200 Day Moving Averages. The key trading level is at 45620 (200 Day Moving Average), the price action appears to be capped by 47740 (20 Day Moving Average) resistance level. A confirmed breakout above 47740 level could appear Bullish targeting additional upside resistances at 50000 followed by 51795 and 53550 levels. Alternatively a confirmed loss of the initial downside support at 41446 could appear bearish targeting additional supports at 40000 followed by 37900 levels.
Possible Trade Set Up: A rally higher from the current Daily Key Trading Level at 45620 level and a confirmed breakout above daily resistance at 47740, could support a Bullish outlook targeting upside resistances at 50000 followed by 51795 and 53550 levels. Alternatively, a confirmed breakout below 41446 level and an End of Day close lower; would invalidate Bullish trade set up.
XRP
XRP price action appears to be a corrective pullback. The key trading level is at 1.0260 (50 Day Moving Average). The upside is capped by the initial resistance at 1.1510 (20 Day Moving Average) level. A confirmed breakout above initial resistance at 1.1510 level could appear Bullish targeting additional upside resistances at 1.2275 followed by 1.3330 and 1.4000 levels. Alternatively a confirmed loss of the current support at 0.9050 (200 Day Moving Average) level, could support a bearish outlook targeting additional downside supports at 0.8000 followed by 0.7300 levels.
Possible Trade Set Up: A rally higher from the key trading level at 1.0260 level and a confirmed breakout above 1.1500 resistance level could support a Bullish outlook targeting upside resistances at 1.2275 followed by 1.3330 and 1.4000 levels. Alternatively, a confirmed loss of 0.9050 level and an End of Day close below; would invalidate a Bullish trade set up.
Ethereum
ETH price action appears to be a corrective pullback. The Key trading level is at 3,100 (50 Day Moving Average). The upside is capped by initial resistance at 3,440 (20 Day Moving Average) level. A confirmed breakout above 3,440 appears Bullish targeting resistances at 3,680 followed by 3,942 and 4,100 levels. Alternatively a confirmed loss of the initial downside support at 2,930 level could support a Bearish outlook targeting additional downside supports at 2,770 followed by 2,490 (200 Day Moving Average) levels.
Possible Trade Set Up: A Bullish rally from the key trading level at 3,100 level and a confirmed breakout above 3,440 resistance level could support a Bullish outlook targeting upside resistances at 3,680 followed by 3,940 and 4,100 levels. Alternatively, a confirmed loss of 2,930 level and an End of Day close below; would invalidate a Bullish trade set up.
