After two weeks of shocking rebound, the price of Bitcoin (BTC) was basically flat this week. This is a positive signal because it shows that investors are not anxious before holding a series of central bank meetings next week. The Federal Reserve Board, the European Central Bank and the Bank of England are scheduled to announce their current policy decisions next week.
After the key personal consumption expenditure (PCE) data in December abroad showed the lowest growth rate since October 2021, the confidence of both sides was improved again. The key PCE increased by 4.4% from a year ago, which is in line with the investment analyst's estimate.
According to Markus Thielen, head of scientific research and strategy at Matrixport, US institutions have not abandoned the cryptocurrency market. When this financial investment company obtained this result, it was assumed that if there was an increase in the foreign trading period, it was because the platform was buying. According to this index value, the company said that 85% of the increase in January was due to the organization's purchase.
Can Bitcoin (Bitcoin) and optimized altcoins solve the problem of limiting personal behavior and repairing the trend of growth? Let's study the data chart of the top ten digital currencies to find the answer.
On January 25, Bitcoin (BTC) soared to $23816, but for the long wick in the candlestick on that day, it was impossible to maintain a higher price with both ends.
The BTC/USDT pair has repeatedly failed to keep above US $23000, which may lure investors to make profits in the short term. Timely application is US $22292. If this level is compromised, the adjustment may reach the 20-day EMA (US $21172).
This is a key level worthy of attention, because its substantial rebound will indicate the need to be strong at a lower level. Then, this will be an important head-on resistance for the composition to try to rise again to reach US $25211.
On the other hand, if the price falls and plummets below the 20-day moving average, it will indicate that both sides may be eager to withdraw. It is possible for short sellers to regain control power below $20400.
On January 25, ETH rebounded from its 20-day average (US $1520), indicating that short positions sold around the resistance above US $1680.
Short sellers will have to drag the price to the level of around $1500 to support them, so that the advantages will favor them in the short term. The ETH/USDT pair is likely to decline gradually, with a strong support point of US $1352.
If both sides need to prevent such short-term bullish views, he will have to immediately push the price above the head-up resistance of $1680. If he can do this, the couple will start their $2000 journey and stay at $1800 for a short time.
In the past few days, BNB (BNB) has been in the middle of the 20-day average ($293) and the upper resistance of $318. This shows that both sides bought around the 20-day moving average and short positions rebounded around $318.
The soaring 20-day average and relative strength index (RSI) are located in active areas, indicating that customers have slight advantages. In order to create this advantage, Shuangtou will have to promote and maintain the price above $318. If he succeeds, BNB/USDT may rebound against the loan currency and soar to $360.
Bear may have other plans. He will spare no effort to maintain the level of $318 and bring the price below the 20-day average. If he does this, the couple may fall to $281. This level is likely to play a primary and secondary role. If there is a crack, it will affect the composition of a simple 50-day moving average system, that is, SMA ($270).
XRP (XRP) jumped from the 20-day moving average ($0.39) on January 25 to the upper resistance of $0.42, but customers could not maintain a price higher than the resistance.
Repeated failure to raise management costs may induce double-headed accounts to make profits in the short term. This may drag the price below the 20-day moving average and open the door for the possibility of falling to the 50-day moving average (US $0.37).
If the price rises from the 20-day average and rises to the range of US $0.42 to US $0.44, such negative opinions may be invalid for a short time. The XRP/USDT pair is likely to rebound gradually and touch US $0.51.
On January 26, Cardano's ADA (ADA) rose to US $0.38, but the two sides could not maintain the leading level. However, it is worth noting that if resistance is often punctured, it will usually become weak.
The duo will again try to push the price above the head resistance. If he can succeed, the ADA/USDT pair is likely to soar to $0.44. This level is likely to become a frightening natural barrier again. If the two sides have not given up a lot of territory, this will probably continue to increase the composition.
The soaring 20-day moving average shows that customers have an advantage, but the rising trend of RSI's negative back-chip warning is likely to have weakened. Short sellers will have to lower their prices below the 20-day moving average to begin a deeper adjustment of the 50-day moving average ($0.30).
Dogecoin (Dogecoin) rebounded from its 20-day daily average ($0.08) on January 25, but the duo could not rebound again on January 26. The price fell to the 20-day average on January 27.
In the past few days, the DOGE/USDT ratio hovered between US $0.09 and the 20-day average. If the price rises from the current level and rises above $0.09, the probability of the next resistance to increase to $0.11 will increase.
Or, if the price continues to fall and falls below the 20-day average, it means that both sides have lost control. This will probably fall to the strong support point of US $0.07 for the composition. This behavior may mean that there may be a range fluctuation from US $0.07 to US $0.09 in the next few days.
Polygon's MATIC (MATIC) rebounded from the 20-day moving average ($0.97) on January 25, and increased the important resistance of $1.05 on January 26. Raising this level shows that the uncertainty of this section is beneficial to both sides.
Customers are again fighting for the lead. On January 27, MATIC/USDT raised the small resistance of $1.16. Thus, it is possible to rebound to $1.30 and eliminate the road surface, and the bears may have a strong defensive force again. If both sides get rid of this obstacle, the rebound may extend to $1.50.
Conversely, if the price continues to fall and falls below $1.05, it indicates that the increase may be a bull market trap. This is likely to fall to US $0.91 for individual stocks.
Bitcoin (LTC) has fluctuated between the 20-day average ($85) and the head-up resistance of $92 in the past few days. This shows that there is uncertainty about the specific behavior of the duo and the short.
Although the rising EMA system indicates that both sides are beneficial, the negative backscatter of RSI indicates that the pressure of purchasing has decreased. If the bear finally pulls the price below the 20-day moving average, he will have the upper hand.
This may open the stop loss of short-term traders' stocks. The LTC/USDT pair is likely to fall to US $81 and then to US $75.
If the duopoly wants to maintain its dominance, he will have to push up the price and keep it above $92. This may mean the repair of the growth trend. Later, the couple could increase by another 100 dollars, and then by another 107 dollars.
In Bordeaux, DOT (DOT) has been trading near the resistance line in the past few days. Generally speaking, the close integration close to the strong head-on resistance shows that customers are still sticking to their trading positions when estimating the rise.
If the customer pushes the price above the resistance line, DOT/USDT is likely to imply a hidden trend change. Subsequently, the composition will gradually move towards $8.05 and stay at $7.42 for a short time.
Conversely, if the price cannot be maintained above the resistance line, it means that the demand for higher quality is insufficient. This may attract investors' revenue orders in the short term. It is likely that the loan currency will first fall to the 20-day average ($5.88). If this level breaks, the decline may reach $5.50.
On January 26, the two sides tried to push the avalanche AVAX (AVAX) over the resistance line, but the short side blocked their attempt. The duo did not compromise with the short, and tried to get rid of this obstacle again on January 27.
The rising EMA system and RSI near the overbought area indicate that the route with the least resistance is rising. If the price rises to the resistance line, the AVAX/USDT pair may rebound to $22, and then rise to $24.
On the downside level, falling below the 20-day average ($16.31) is undoubtedly the first sign of reduced pressure to buy jobs. This may open the door for SMA ($13.69), which is likely to fall to $14.65 and then fall to 50 days later.
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