Login passwords and stock markets are generally forward-looking. This means that traders often ignore recent negative factors and focus on future subjective factors. With the next decline of BTC (BTC) in 2024, investment analysts are turning their focus to this.
REKT Capital, a separate investment analyst, describes this unusual industry development, highlighting that BTC rose 234 per cent in 2015 and 316 per cent in 2019, the year before the past two declines. If history repeats itself, the market price of bitcoin is likely to bring happiness in 2023.
However, there is still uncertainty recently, and the user Price Index (CPI) data on January 12th may lead to a significant increase in uncertainty.
Some industry analysts are sceptical about the growing dominance of alternative currency turnover, which is above 50 per cent at this stage. According to Martun, the promoter of CryptoQuant, the leading AltCoin warns that there is a potential risk of further decline in the loan currency.
One event that is getting a lot of attention is a dilemma that Digital currency Group (DCG) has considered. George Novogratz, CEO of Star data Control, said in an interview with CNBC on Jan. 10 that the difficulties of DCG, Genesis and Gemini are likely to end in the next quarter. Although the deal is "not going to be very good", Novograz does not think it will cause a "massive sell-off".
Will BTC and alternative currencies recover again, or will higher standards attract strong sales? Let's take a look at the data charts of the top ten digital currencies to find out.
On January 9th, the bears tried to delay the rebound around $17400, but they could not lower the price below $17061. This means that double heads are buying when they fall slightly. The price of gold rebounded on January 10, and customers are trying to sustain this round of reassuring gains.
The moving average of the 20th index ($16982) has warmed up, and the relative strength index (RSI) is higher than 66, indicating that the duo is in manipulation. The BTC/USDT pair is likely to soar to $17850, and if it goes above that level, the next stop could be $18388.
Conversely, if the price turns down from the current level and falls below the moving average, it will imply that the currency pair is likely to remain between $16256 and $18388 for a few days.
For the past two days, medical ether (ETH) has been traded around the head friction resistance of $1352. The 20-day moving average ($1261) has begun to pick up, and RSI is close to overbought areas, indicating that the way to minimize friction is to rise.
If customers push the price above $1352 and down the trend line, it will imply an implicit shift in the trend. Subsequently, the ETH/USDT pair is likely to rebound to $1700, and if that level is enlarged, the next stop could be $1800. A bear market in the stock market is likely to go all out to defend the region.
Conversely, if the price goes down from the top pressure level, the currency pair is likely to fall again to the moving average. If this support line breaks, it will indicate that the currency pair is likely to fluctuate for a period of time between $1352 and $1150.
BNB is down from $283 on Jan. 9, but bears cannot drag prices below the 50-day simple moving average (SMA) of $269. This shows that Shuangtou has bought in bargain-hunting.
The duo will try again to kick the price above the friction resistance of $283. If he does this to the extreme, the BNB/USDT pair could soar to $300 and then to $318. The rising 20-day moving average ($261) and the RSI in the right region suggest that the duo has an advantage.
If gold falls and falls below the moving average, such a proactive stance may be ineffective for a short time. Subsequently, the pair is likely to fall to the support zone of $250 to $236. Duo is expected to defend this level fiercely, and if it fails to do so, it could fall to $220.
XRP (XRP) rose strongly on January 11th after trading in symmetrical triangles over the past few days. The duo pushed the price above the triangle and 50-day SMA ($0.37).
If the duo keeps the price above the triangle, the probability of rebounding to $0.42 increases. This level will be a big hindrance, and if customers overcome it, the XRP/USDT pair is likely to soar to $0.51. RSI has leapt to the right region, suggesting that trends are good for customers.
If the short seller needs to stop the increase, he will be forced to pull the price to the triangle immediately. Subsequently, the pair is likely to fall to its 20-day moving average ($0.35) and then to support.
On January 9th and 10th, Cardano (ADA) fell below and closed above the declining wedge-shaped downward trend line, but the two heads were unable to take advantage of this advantage. This shows that you are hesitant to buy at a higher price.
Bears are trying to pull the price into shape on January 11th. If he passes, the ADA/USDT pair may slide into the moving moving average.
The strong rebound in the index indicates aggressive buying above lower levels. Shuangtou will then try again to boost the currency pair by $0.35. If you raise this threshold, the currency pair is likely to try to reach $0.44.
Or, if the price falls and falls below the moving average, it will indicate that the rally above the contract may be a big bull market trap. Subsequently, the pair is likely to fall to $0.26 and then to $0.24.
On Jan. 9, customers tried to push the Dogecoin (Doge) above the head pressure level of $0.08, but the long stamens in the candlestick showed that the bears had strongly guarded that level.
The similar 20-day moving average ($.07) and the RSI near the midpoint indicate that there will be some ups and downs in the near future. Subsequently, Doge/USDT currency pairs may be traded between $0. 08 and $0. 07 for a period of time.
Another possibility is that the price of gold has rebounded from its current level to above 50-day SMA ($.08). If this happens, it will indicate that the adjustment is likely to be over. Subsequently, the pair is likely to soar to $0.11.
Polygon has been trading above its 50-day moving average ($0.84) since Jan. 9, a sign of initiative. This shows that the two heads are trying to change the moving moving average into a support line.
The rising 20-day moving average ($0.81) and the RSI in the positive area show that it is an advantage for customers. If the duo pushes the price of gold above $0.88, the Marjic / dollar pair is likely to rebound to the top pressure level of $0.97. This level will be a key obstacle, so if the double head overcomes it, the rebound is likely to touch $1.05.
The harmful side is that if bears fall below the 50-day moving average, the currency pair is likely to fall to the 20-day moving average. If this support declines, the pair is likely to expand and fall to $0.75.
Litecoin (LTC) encounters friction around the head friction resistance of $85, but the duo has not abandoned too many camps. This shows that customers do not record profits because their estimated prices also increase.
Both moving averages are tilted upward, and RSI is in the overbought area, which shows that both heads understand the dominance. If the customer pushes the price above $85, LTC/USDT may accelerate the trend and bounce back to the critical psychological level of $100.
Conversely, if the price turns down from the current level or cannot be kept above $85, it will indicate that the bears are more active in quality. Subsequently, the currency pair may fall to the moving average.
A rebound from this support line will show that the duo has bought and lowered the price. This could lead to a retest of $85, so if the price falls below the moving average, the pair is likely to plummet to $61.
On January 9th, DOT rose above the 50-day moving average ($4.92), but the long bulbs in the candlestick showed that higher standards were deeply attractive to merchants.
Although gold fell back below its 50-day moving average, bears could not affect the DOT/USDT pair to its 20-day moving average ($4.70). This means that Shuangtou is in no hurry to leave the market and will try again to push the currency pair above $5.10. If he can achieve this, the currency pair is likely to soar to the downward trend line.
If gold prices turn down and fall below the 20-day moving average, such proactive views are likely to be ineffective in the short term. Subsequently, the pair is likely to fall to the important support line of $4.22.
After a few days of trading in the middle of the moving average, Uniswap (Uni) rose on January 8th and closed above 50-day SMA ($5.58). This shows that variability is overcome and is beneficial to both heads.
The UNI/USDT pair is likely to bounce back to the resistance line of the symmetrical triangle. Bears may try again to block recovery to such an extent. If the price of gold falls from this pressure level, but rebounds from moving the moving average, it will show that traders have bought bargain-hunting. This may also increase the probability of raising the triangle. Subsequently, the two currency pairs are likely to soar gradually to close to $7.80.
Conversely, if the price turns down from the current level or resistance line and falls below the moving average, it will imply that the currency pair may increase its stay in the triangle for a period of time.
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