At the moment, bulls are buying every drop, and bears are selling the peak of every rally, which indicates that BTC and altcoins will maintain their volatility for a while longer. Bitcoin (BTC) and most major altcoins are facing buying at higher levels of sales and declines, which indicates the possibility of a december formation. So what is the latest situation in Bitcoin and popular altcoins?
Whalemap he said that “a return of $ 46,500 would seem to be a reversal of the trend” for Bitcoin, as the previous accumulation phase of 90,000 BTC was at this level. Fidelity Digital Assets, in its annual report, said that the “huge” Bitcoin accumulation of Bitcoin miners shows that “the Bitcoin cycle is far from over”. The report also said that more sovereign nations “may be able to buy Bitcoin in 2022 and maybe even see a central bank make a purchase.”
Guido Buehler, CEO of Swiss-based financial institution SEBA Bank, said in a recent interview that asset pools at SEBA can invest in Bitcoin at the right time if the right counterparties and necessary regulations are in place. Buehler says a rally is possible for $75,000 Bitcoin he announced his bullish expectation for.
Bitcoin, Down from the 20-day exponential moving average ($44,681) on January 13, and this indicates that bears continue to sell in rallies. The bears will now try to pull the price back from $39,600 to strong support. Both moving averages are inclined downwards, and the relative strength index (RSI) is in the negative zone, which indicates that the path of least resistance is in the downward direction. If the sellers do not give up and keep the price below $ 39,600, the BTC/USDT pair decline may continue up to $ 30,000.
However, it is unlikely that the bulls will easily give up $ 39,600. A strong recovery from the current level, or from the 39.600 dollar, will suggest accumulation at lower levels. The pair can then be priced in the Dec december of $39,600 to $45,456 for a few days.
a break above $45,456 and a close will be the first indication that the correction may be over. The pair then starts their march to $52,088.
I ethereu (ETH)
Ethereum‘flour (ETH) On January 10, the return of the declining channel from the support line did not even reach the 20-day EMA ($ 3.485), which indicates that demand is drying up at higher levels. Moving averages are falling, and the RSI is below 40, which indicates that the bears are still in control. Sellers will now try to decouple the price to the area between the psychological level of $ 3,000 and the support line of the channel. If there is a break below the 2.652 dollar and a close comes, we can say hello to the other leg of the falling trend.
On the contrary, if the price rises from the current level, the bulls will make another attempt to raise the ETH/USDT pair above the 20-day EMA. If they succeed, the pair may rise to the resistance line of the channel, and then to the 50-day simple moving average ($ 3.893). Bulls will have to rise and hold the price above this level in order to signal that the downtrend may be over.
Binance Coin (BNB)
Binance Coin (BNB), is facing strong resistance at the 20-day EMA (487 dollars), but there is one important detail bulls are showing little presence and investors are not in a hurry to escape. If the price rises above the 20-day EMA, the bulls will try to overcome the general obstacle on the downtrend line. If they can achieve this, the BNB/USDT pair will signal a possible change in the trend. The pair can then attempt a rally for $617.
Conversely, if the price drops from the 20-day EMA or the downtrend line, it indicates that the bears are selling in rallies. This may keep BNB on the channel for a few more days.
Solana (LEFT), reached the 20-day EMA ($ 157) on January 13, but the bulls could not overcome this general obstacle. This suggests that the bears have not yet given up and are selling out in rallies. The bears will now try to continue their downward trend by pulling the price below the support from $ 130. If they do this, the SOL/USDT pair may fall to the next significant support from $ 116.
Moving averages with a downward slope and the RSI in the negative zone indicate that the path of least resistance is in the downward direction. Contrary to this assumption, if the price rises above the 20-day EMA, the pair may rise towards the channel’s resistance line. Bulls will have to push the pair over the channel to signal a possible change in the trend.