Bitcoin (BTC),
Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS,
Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)
BTC/USD
Dominant
trend: Bearish
Supply zone: $5000, $6000, $7000
Demand zone: $2000, $1500, $1000
BTC/USD continues in a bearish trend in the long-term
outlook. After breaking the predicted target at $3377 in the demand area of
last week analysis on 13th December, the strong bearish pressure further pushed
the cryptocurrency down to a new lower low at $3215 on 15th December ending the
week in a bullish doji.
This suggests brief bullish pullback may be expected in the days
ahead. The bears’ return may be around the 10-EMA, after exhaustion. Moreover,
the price remains below the two EMAs, the stochastic oscillator is in the
oversold region at 6%, and its signal points down. These suggest further
downward movement in BTC/USD. $3000 in the demand area may be the bears
targeted lower low.
ETH/USD
Dominant
trend: Bearish
Supply zones: $250, $300, $350
Demand zones: $50, $30, $10
The week just
ended opened bullish on 9th December as ETH/USD was
up at $102.50 in the supply area, but the bulls later lost momentum as the day
closed as an inverted hammer. This was a signal that the bears were back.
$85.94 was the initial low but increased momentum dropped ETH/USD down to
$83.17 in the demand area on 15th December ending the week with a bullish
hammer.
With a possible trend reversal, the bulls are gradually staging
a return. ETH/USD was up at $91.46 in the supply area earlier today. Further
upward movement was rejected by the 10-EMA which acted as a strong resistance.
The bears still remain in control of the market and may return and push price
further down south. With the price below the two EMAs and the stochastic
oscillator signal at 8% in the oversold region, this suggests downward
momentum. $50.00 in the demand area is still on the card as the trading week
commences.
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