11th Jan - Crypto Technical & Market Watch
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Bitcoin turned down from $8,452.84 and if above these price it will signal the possible start of a new uptrend. If the price slips $7,000 traders can keep a stop loss on the buy positions at $6,800.
Breakout of $173.841 zone traders can watch the price action closer to the $151.829 to $157.50 resistance zone and book partial profits if the bulls fail to scale it.Below $131.484 its bearish. Traders can retain the stop loss on the buy positions at $122.
The pair will pick up momentum above $0.2326. Above this level, a rally to $0.31503. If the bears sink the price below $0.20041, the pair can retest the strong support at $0.18339. We do not recommend any trade currently.
Bitcoin Cash moved towards the target objective of $306.78. A minor resistance at $270.15 and overbought zone, which suggests that bulls are in command. Traders trail the stops on long buys to $226 and tightened further after the price scales above $270.15. Bearish below $227.01.
Disclosure: The author holds no cryptocurrency at the time of writing.
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