Bitcoin (BTC),
Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS,
Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)
BTC/USD
Dominant
trend: Ranging
Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000
Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000
BTC/USD remains in a range-bound market in the long-term
outlook. After a push to $4218 in the supply area, the bulls lost momentum and
a gradual drop in price happened until the 10th January when the bears’
takeover of the range was confirmed with a large bearish engulfing candle.
BTC/USD dropped to $3686 in the supply area.
Momentum to the downside is strong as confirmed by the
stochastic oscillator signal pointing down at 12% in the oversold region.
BTC/USD is already down at $3850 in the demand area in the first day of the
trading week as the journey toward the lower price continues.
BTC/USD is in consolidation and trading between $4370 in the
upper supply area and at $3470 in the lower demand area of the range. A
breakout at the upper supply area or breakdown at the lower area may occur
hence patience is required to allow this to happen before a position is taken.
ETH/USD
Dominant
trend: Bearish
Supply zones: $250, $300, $350
Demand zones: $50, $30, $10
Supply zones: $250, $300, $350
Demand zones: $50, $30, $10
Several wicks of the daily candle at the $165.00 area confirmed
it as a key supply area. The wicks signal to rejection for upward price
movement and bullish exhaustion with the bears making an inroad to the market.
Confirmation to the bears’ full takeover of the market came with
a large bearish engulfing candle on 10th January.
ETH/USD was
down to $125.71 in the demand area with a break of the two EMAs. The journey to
the low attained on 14th December at $83.00 in the demand area, may have
started because the week opened bearish with the Ethereum already down to
$117.07.
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