Market analysis from Saxo

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Advanced Micro Devices Short Term We look to Buy at 94.20 (stop at 87.55) Broken out of the channel formation to the upside. Reverse trend line support can be seen at 95.00. There is scope for mild selling at the open but losses should be limited. Preferred trade is to buy on dips. Dip buying offers good risk/reward. Our profit targets will be 109.19 and...

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Bitcoin Intraday We look to Buy at 21616 (stop at 21148) Trading within a Corrective Channel formation. Trend line support is located at 21600. Bespoke support is located at 21500. We look to buy dips. Our profit targets will be 22848 and 23448 Resistance: 23000 / 23500 / 24000 Support: 22500 / 22000 / 21500 Disclaimer – Saxo Bank Group. Please be...

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Litecoin Intraday We look to Buy at 55.72 (stop at 53.90) 60.00 continues to hold back the bulls. We look for a temporary move lower. Prices expected to stall near trend line support. We expect a reversal in this move. Preferred trade is to buy on dips. Our profit targets will be 59.99 and 62.00 Resistance: 60.00 / 72.00 / 96.00 Support: 55.50 / 47.00 /...

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Intel Corporation Short Term We look to Buy at 35.87 (stop at 34.61) Preferred trade is to buy on dips. Price action looks to be forming a bottom. Posted a Bullish Hammer Bottom on the Daily chart. Further upside is expected and we look to set longs in early trade. Our profit targets will be 39.04 and 40.60 Resistance: 39.05 / 40.75 / 43.80 Support:...

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Ethereum Intraday We look to Buy at 1571 (stop at 1524) We look to buy dips. The previous swing low is located at 1560. Bespoke support is located at 1550. Daily signals are mildly bullish. Our profit targets will be 1688 and 1728 Resistance: 1700 / 1750 / 1780 Support: 1600 / 1550 / 1500 Disclaimer – Saxo Bank Group. Please be reminded – you alone...

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Cisco Systems Short Term We look to Sell at 45.43 (stop at 46.50) Preferred trade is to sell into rallies. The medium term bias remains bearish. Bespoke resistance is located at 45.50. We continue to expect further gains to be limited and look to set shorts for a further drive lower within the channel. Our profit targets will be 41.41 and 38.10...

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AbbVie Short Term We look to Buy at 138.60 (stop at 133.69) Preferred trade is to buy on dips. There is scope for mild selling at the open but losses should be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Further upside is expected although we prefer to set longs at our bespoke support levels...

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Bitcoin Intraday We look to Buy at 21515 (stop at 20987) Trading within a Corrective Channel formation. The trend of higher lows is located at 21500. Short term momentum is bearish. We look to buy dips. Expect trading to remain mixed and volatile. Our profit targets will be 22987 and 23487 Resistance: 23000 / 23500 / 24000 Support: 22500 / 22000 /...

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Alphabet Short Term We look to Sell at 118.12 (stop at 121.10) The medium term bias remains bearish. The sideways consolidation continued although the market managed to post a significant high at 120.00. Trading within a Bearish Channel formation. Further downside is expected and we prefer to set shorts in early trade. Our profit targets will be 104.19...

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Coinbase Short Term We look to Sell at 63.59 (stop at 70.72) The primary trend remains bearish. We are assessed to be in a corrective mode higher. A move higher faces tough resistance and we remain cautious on upside potential. Preferred trade is to sell into rallies. Trading volume is decreasing. Our profit targets will be 45.94 and 41.01 Resistance:...

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Ethereum Intraday We look to Sell a break of 1619 (stop at 1673) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. 50 4hour EMA is at 1625. A break of the recent low at 1640 should result in a further move lower. Our profit targets will be 1481 and 1441 Resistance: 1700 / 1780 / 1900 Support: 1600 /...

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Riot Blockchain Short Term We look to Sell at 8.05 (stop at 8.90) Previous resistance located at 8.00. The medium term bias remains bearish. The bias is still for lower levels and we look for any gains to be limited. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Our profit targets will be 6.04 and 4.25...

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Qualcomm Short Term We look to Buy at 143.04 (stop at 138.51) Preferred trade is to buy on dips. Buying continued from the 38.2% pullback level of 141.98. 20 1day EMA is at 143.50. Posted a Bullish Hammer Bottom on the Daily chart. We look for gains to be extended today. Our profit targets will be 156.56 and 159.40 Resistance: 156.60 / 160.00 /...

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Ethereum Intraday We look to Sell a break of 1599 (stop at 1651) Daily signals are mildly bearish. A break of bespoke support at 1600, and the move lower is already underway. A higher correction is expected. Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted...

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Litecoin Intraday We look to Buy at 58.71 (stop at 56.40) Prices have continued the bullish move higher and resulted in 2 consecutive positive days. This is positive for sentiment and the uptrend has potential to return. We look for a temporary move lower. A Fibonacci confluence area is located at 58.20. Further upside is expected although we prefer to buy...

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CRISPR Therapeutics Short Term We look to Sell at 82.82 (stop at 88.85) Previous resistance located at 83.00. Short term oscillators have turned negative. Posted a Bearish Outside candle on the Daily chart. A lower correction is expected. Our profit targets will be 68.87 and 60.76 Resistance: 83.00 / 96.00 / 135.00 Support: 73.00 / 60.50 / 43.00 ...

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Bitcoin Intraday We look to Sell at 24098 (stop at 24666) Trading within a Corrective Channel formation. The trend of higher highs is located at 24200. We look for a temporary move higher. Preferred trade is to sell into rallies. Daily signals are mildly bearish. Our profit targets will be 22707 and 22007 Resistance: 23500 / 24200 / 25000 Support: 23000...

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DocuSign Short Term We look to Sell at 70.93 (stop at 74.97) Preferred trade is to sell into rallies. 71.00 has been pivotal. Further downside is expected although we prefer to sell into rallies close to the 71.00 level. The medium term bias remains bearish. There is scope for mild buying at the open but gains should be limited. Our profit targets will be...