BITCOIN – BTC/GBP

Bitcoin bounced off the 20-day exponential moving average (EMA) on November 6 and soared above the overhead resistance at £48,426.53 on November 8, defying our assumption of a consolidation.

The BTC/GBP pair could now pick up momentum and charge toward the 161.8% Fibonacci extension level of £56,174.25 and if this resistance is crossed, the next stop could be £60,249.98. Read more

ETHEREUM – ETH/GBP

The failure of the bears to sustain Ether below the breakout level of £3098.17 attracted aggressive buying by the bulls. The momentum picked up on November 2 and the ETH/GBP pair has continued its journey northwards.

The up-move could face resistance at the 100% Fibonacci extension level at £3,590.13. If the bulls arrest the subsequent pullback at the 20-day EMA, it will increase the prospects of the resumption of the uptrend. Read more

RIPPLE – XRP/GBP

XRP broke above the overhead resistance at £0.8924 on November 4 but the bulls could not sustain the breakout. However, a minor positive was that bulls bought the dip to the 20-day EMA.

This indicates that the sentiment has turned positive and traders are buying on dips. The bulls pushed and closed the price above the overhead resistance on November 8. Read more

CARDANO – ADA/GBP

After struggling to sustain above the 20-day EMA for several days, the bulls finally managed a close above the level on November 8. This is the first sign that bears may be losing their grip.

Cardano has now reached the downtrend line, which could attract strong selling by the bears. However, if bulls overcome this resistance, the ADA/GBP pair could accelerate to £1.79719. Read more

BINANCE – BNB/GBP

During strong breakouts, the price does not retrace and retest the breakout level and that is what happened in Binance Coin. The BNB/GBP pair witnessed intraday dips on November 2-4 but did not drop to the breakout level at £377.

The buying picked up momentum on November 5 and the pair reached close to the previous all-time high of £493.20 on November 7. The long wick on the day’s candlestick indicates that bears are trying to defend this level with vigour. Read more

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