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
BTC/USD continues in a range-bound market in the
long-term outlook. The bears had a momentary hold of the range as BTC/USD made
a low of $3570 while the bulls took the cryptocurrency initially to a high of
$3799 and later to $3882 as the week ended on19th January.
Momentum to the downside remains strong. With the price below
the 10-EMA and the stochastic oscillator in the oversold region and its signal
pointing down at 14 %. The new trading week started on a bearish note with
BTC/USD opened at $3762. The lower demand area of the range may be tested as
the bearish momentum increase.
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
The head and shoulder pattern is the cryptocurrency structure in
the long-term outlook. The bulls attempt continue the journey up north at
$134.50 in the supply area was rejected by the 10-EMA on 14th January.
The formation
of a bearish railroad on 15th January was an indication of the bears taken over
of the market. Increased momentum led to a drop in ETH/USD to
$107.51 in the demand area.
The price is below the EMAs crossover and the stochastic
oscillator is in the oversold region at 16% an indication of downward momentum
in price as the right leg of pattern forms in the week ahead.
For more signals: https://www.cryptocomparer.com/news/bitcoin-news/bitcoin-btc-ethereum-eth-monero-xmr-ripple-xrp-cardano-ada-stellar-xlm-eos-bitcoin-sv-bchsv-tron-trx-litecoin-ltc-weekly-trading-signals-for-january-21st/
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