Top 5 cryptocurrencies to watch every week

[MrSpasybo]

Week 21-27/12: BTC, LTC, BCH, XMR, THETA

If Bitcoin seeing a minor correction or consolidation in the next few days could benefit select altcoins.

The supply and demand equation determines the price of an asset. In the past few months, the uptick in institutional demand for Bitcoin (BTC) has resulted in a strong bull run. This uptrend may continue until demand exceeds supply.

On-chain data shows two withdrawals of more than 12,000 Bitcoin each from Coinbase Pro this week, which is just short of the 28,000 Bitcoin mined in November. This suggests that demand from institutional investors remains intact even after Bitcoin’s recent rally because they are bullish in the long term.

Meanwhile, Mexico’s second richest man, Ricardo Salinas Pliego, said in an interview with Cointelegraph that Bitcoin has been his “best investment ever.” Salinas has about 10% of his liquid portfolio in Bitcoin and he is in no hurry to sell as he wants to “sit around for another five or ten years."

Crypto market data daily view. Source: Coin360

The strong demand and HODLing by institutional investors has propelled Bitcoin’s market capitalization to above $500 billion for the first time. It has also boosted Bitcoin’s market dominance to above 70.5%, which suggests that the inflow of money has largely been into Bitcoin.

However, at some point, fresh money will stop flowing into Bitcoin and that could result in a correction or consolidation. Traders may then divert their attention to select altcoins, which could pick up momentum.

Let’s look at the charts of top-five cryptocurrencies that could rally in the next few days.

BTC/USD
Bitcoin price broke above the $24,302.50 overhead resistance on Dec. 25 and resumed the uptrend. This breakout has a target objective of $28,664.04 and the price hit an intraday high at $28,419.94 today.

BTC/USDT daily chart. Source: TradingView

The BTC/USD pair’s incessant rise has sucked in traders who had been waiting on the sidelines for a dip to enter. Institutional investors, momentum traders, and speculators have also joined the party that has kept the uptrend intact.

However, the current pace of rise is not sustainable. The long wick on today’s candlestick suggests profit booking at higher levels. Even if the uptrend continues, the pair may again face selling near the $30,000 mark.

If the uptrend stalls, the short-term traders may rush to the exit and that could pull the price back to the 20-day exponential moving average ($22,613). If this support holds, the pair could again attempt to resume the uptrend.

On the other hand, a break below the 20-day EMA could drag the price to the critical support at $20,000. Therefore, traders may avoid chasing prices higher.

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of a Doji candlestick pattern, which suggests indecision among the bulls and the bears. Although the uncertainty resolved to the downside, the long tail on the candlestick shows buying at lower levels. This suggests traders are purchasing on every minor dip.

However, if the bulls fail to propel the price above $28,419.94, the selling may continue and that could pull the price down to the 20-EMA at $25,446. The overbought levels on the relative strength index also point to a possible correction.

A break below the 20-EMA and the support at $24,302.50 will suggest that the momentum has weakened.

LTC/USD
In a strong uptrend, traders usually buy the dips to the 20-day EMA ($105) and that is what happened on Dec. 23. Litecoin (LTC) rebounded sharply on Dec. 24 and the momentum picked up after the bulls pushed the price above the $118.64 to $124.12 overhead resistance zone.

LTC/USDT daily chart. Source: TradingView

The immediate target is $145 but if the bulls do not allow the price to drop and sustain below $124.1278, the rally may extend to $180. The rising moving averages and the RSI in the overbought zone suggest bulls are in control.

This bullish view will be invalidated if the LTC/USD pair turns around from the current levels or the overhead resistance and drops below the 20-day EMA. Such a move will suggest that traders are not buying the dips.

LTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart is also in an uptrend with both moving averages sloping up and the RSI in positive territory. However, the momentum has weakened as bulls are facing resistance near $136.

If the bulls do not allow the price to sustain below the 20-EMA, the pair could be on target to reach $145. But if the price turns down from the current levels and breaks below $118.6497 and the 50-simple moving average, it will suggest the start of a deeper correction.

BCH/USD
Bitcoin Cash (BCH) has been repeatedly attempting to break above the $353 overhead resistance for the past few days. Although the bulls had pushed the price above $353 on two occasions, marked via ellipse on the chart, they could not sustain the higher levels.

BCH/USD daily chart. Source: TradingView

This suggests traders are aggressively selling on any rise above $353. However, the positive thing is that the bulls have accumulated on declines below $280 and are currently attempting to push the price above $353.

If they succeed, the BCH/USD pair could start its journey toward $500. It may not be a straight dash to the target objective because the bears will again try to stall the rally at $409 and $430. But if both these levels are scaled, the pair could pick up momentum.

The upsloping moving averages and RSI above 61 suggest bulls have the upper hand.

BCH/USD 4-hour chart. Source: TradingView

The 4-hour chart shows the pair is currently trading inside a large range between $255 and $370. The bulls are currently attempting to drive the price above the $353 to $370 overhead resistance.

If they succeed, the pair could start an uptrend that has a target objective of $485. The moving averages have completed a bullish crossover and the RSI is in the positive territory, which suggests that bulls have the upper hand.

However, if the price again turns down from the current level or $370, the pair may extend its stay inside the range for a few more days.

XMR/USD
The long wick on Dec. 23 candlestick shows traders booked profits after Monero (XMR) hit $167, the target objective of the breakout from the inverse head and shoulders pattern.

XMR/USDT daily chart. Source: TradingView

However, the positive thing was that the bulls purchased the dip to the 20-day EMA ($151) on Dec. 24. The upsloping moving averages and the RSI in the positive zone suggest that the sentiment remains positive.

The long tail on today’s candlestick shows that bulls are buying on dips. If they can push and sustain the price above $170, the XMR/USD pair could rally to the next target objective at $197, just below the psychological resistance at $200.

This positive view will be invalidated if the price turns down from the current levels and breaks below the 20-day EMA. Such a move could signal a deeper correction to $135.50.

XMR/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the pair has been trading inside an ascending channel but the bulls have failed to push and sustain the price into the top half of the channel. The pair has usually turned down from the midpoint of the channel.

This suggests short-term traders are taking profits at intermittent levels. However, if the bulls can push and sustain the price above the midpoint of the channel, the pair could rally to the resistance line of the channel, indicating a pick-up in momentum.

On the other hand, a break below the support line of the channel could signal a possible change in the short-term trend.

THETA/USD
THETA has rallied vertically in the past few days, which pushed the RSI deep into the overbought territory. This has started a correction as seen from the sharp fall today.

THETA/USDT daily chart. Source: TradingView

However, if the price does not dip and sustain below the 38.2% Fibonacci retracement level at $1.31994, it will suggest that traders continue to buy on dips as they anticipate the rally to extend further.

If the bulls can push the price above $1.742, the THETA/USD pair could rally to the $2 psychological level and then to $2.40.

Contrary to this bullish assumption, if the bears sink the price below the 50% Fibonacci retracement level at $1.18957, it will suggest that the momentum has weakened.

THETA/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bulls are currently attempting to defend the 20-EMA. If the pair rebounds off this level, the bulls will attempt to resume the uptrend. The upsloping moving averages and the RSI in the positive territory suggest that bulls are in control.

Contrary to this assumption, if the pair breaks below the 20-EMA, it will suggest that the short-term momentum has weakened. That could pull the price down to the next support at the 50-SMA.

Source: cointelegraph

[hair]

BTC will always be in the top order, the price of BTC has the opportunity to continue to soar👏

[Avinashpujari]

Top 5 cryptocurrencies to watch this week: BTC, ETH, LTC, ADA, BNB.

BTC/USD : Bitcoin picked up momentum after the price broke above the $20,000 overhead resistance but the quick rise of the past few days has pushed the relative strength index (RSI) deep into the overbought territory. This suggests the possibility of a consolidation or a correction in the next few days.

ETH/USD: Ether (ETH) broke out of the ascending triangle pattern on Dec. 16 and the price rallied to $676.325 on Dec. 17 but the bulls could not sustain the higher levels as seen from the long wick on the daily candlestick.

LTC/USD: Litecoin (LTC) picked up momentum after breaking out of the symmetrical triangle on Dec. 16. The target objective of the breakout from the triangle was $119.77 and that was hit on Dec. 19.

ADA/USD: Cardano (ADA) has been trading inside a $0.13 to $0.175 range for the past few days. The altcoin turned down from the overhead resistance on Dec. 17 but the bulls have not given up much ground. This shows that traders are in no hurry to book profits.

BNB/USD: Binance Coin (BNB) had been stuck in a $25.6652 to $32 range for the past few weeks. The bulls pushed the price above the overhead resistance on Dec. 19 and have followed that with another up-move today.

[CharlieWex]

2021 promises to be a very interesting year for crypto . We could all see a very strong growth in bitcoin and followed by ethereum . Your pairs are very interesting and I will keep an eye on them. But I think that cryptocurrency should be stored in a convenient place.

[MrSpasybo]

Week 28/12 - 3/1 BTC, ETH, DOT, BNB, UNI

Bitcoin may be in the last leg of its parabolic run and if the rally sustains, select altcoins may surprise to the upside.

Bitcoin (BTC) has consistently been hitting new all-time highs over the weekend, but the latest surge has also created a new high against gold, according to MarketWatch data. This suggests that Bitcoin has been gaining acceptance as the new store of value and that may attract more customers away from gold into Bitcoin.

Analysts suggest that the latest rally above $30,000 could have been triggered by aggressive buying from institutional investors on Coinbase, as suggested by the large premium of about $350 compared to the price in Binance.

With the latest rally, Bitcoin hit a market capitalization of over $640 billion today, just shy of Alibaba, the ninth-largest company in terms of market cap, at $649.31 billion. Meanwhile, breaking $30,000 could be creating FOMO among institutional investors who have missed buying Bitcoin at lower levels.

Crypto market data daily view. Source: Coin360

However, this buying will need to sustain to keep the uptrend intact because if the rally stalls, some institutional investors and momentum traders who have purchased at lower levels may be tempted to book profits.

If that happens, it could pull the price down quickly and turn the recent purchases by investors into a loss, resulting in a rush to the exit. Therefore, traders must be cautious and employ proper risk management strategies to protect their paper profits.

Meanwhile, let’s look at the charts of top-five cryptocurrencies that could extend their up-move if the sentiment remains bullish

BTC/USD
Bitcoin broke above the $30,000 overhead resistance on Jan. 2 and picked up momentum, which could have been due to a short squeeze and continued buying from the momentum traders.

BTC/USDT daily chart. Source: TradingView

While a parabolic rally provides outsized returns within a short time, it also increases the possibility of a sharp reversal that may catch many traders off guard because after such a strong up-move, the price could retrace anywhere between 62% to 79% of the entire rally.

If that happens, the BTC/USD pair could drop to the $20,000 mark, or a drop of over 30%, which at the moment looks unimaginable.

In a melt-up, it is difficult to predict the level where the rally may end because traders continue to chase prices higher due to FOMO. The next technical level which may act as a resistance is $37,000.

Shorting a rally because it is overbought on all time frames could be a losing proposition because, during a blowoff top, the price could continue to remain overbought for much longer than most traders expect.

But traders who own long positions should use proper risk management principles to protect their paper profits and not get carried away by greed.

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bulls are buying on dips to the 20-exponential moving average. The bears have not been able to break the 50-simple moving average support since the price broke above $20,000.

Thus, the first sign of weakness will be a break below the 20-EMA. Such a move will suggest that traders may be booking profits after the sharp rally. A deeper correction below the 50-SMA may signal a possible change in trend.

There is a major resistance at $37,000 but if that is crossed, the rally could reach $40,000, which could again act as a stiff resistance.

ETH/USD
Ether (ETH) resumed its uptrend after a two-day minor correction on Jan. 2 and has followed it up with another strong up-move today. The upsloping moving averages and the RSI in the overbought territory suggest that the bulls are in command.

ETH/USDT daily chart. Source: TradingView

The bulls easily propelled the price above the $840.93 to $900 resistance today. The next resistance on the upside is $1,000. If the price turns down from this level, the bulls will try to defend the $840.93 breakout level.

If that happens and the ETH/USD pair rebounds off this support, the bulls will once again try to resume the up-move. On the other hand, if the bears sink the price back below $840.93, a drop to the 20-day EMA ($700) is possible.

A break below this level may be an indication that the pair may have topped out in the short-term.

ETH/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the momentum picked up after the bulls pushed the price above the $840.93 resistance. The latest leg of the rally has pushed the RSI deep into the overbought zone, suggesting that a minor correction or consolidation could be around the corner.

The wick on the latest candlestick suggests profit-booking by traders near $975, but if the bulls do not give up much ground and the pair rebounds off $900, it will increase the possibility of a break above $1,000.

This bullish view will be invalidated if the pair turns down and breaks below the $840.93 support and the 50-SMA.

DOT/USD
Polkadot (DOT) is currently consolidating in a strong uptrend. The bears are attempting to defend the $9.50 overhead resistance while the bulls are buying on dips to the $7.89 support.

DOT/USDT daily chart. Source: TradingView

The DOT/USD pair closed in the red on Jan. 1 but the bulls made a strong comeback on Jan. 2. This shows that the traders are not waiting for a deeper correction to buy as they expect the prices to rally further.

If the bulls can propel the price above the $9.50 to $9.89 overhead resistance zone, the uptrend could resume with the next likely target at $12.29.

However, if the price turns down from the overhead resistance, the pair could remain range-bound for a few more days. The pair may lose its bullish momentum if the price slides and sustains below the $7.89 support.

DOT/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bulls are buying on dips to the 20-EMA. This suggests that the sentiment remains positive. The upsloping moving averages and the RSI in the positive zone suggest that bulls have the upper hand.

If the bulls can push and sustain the price above $9.50 for four hours, the next leg of the uptrend could begin.

However, if the price again turns down from the overhead resistance, the bears will try to sink the price below the 20-EMA. If they succeed, the momentum may weaken and the pair may remain range-bound between $7.89 to $9.50 for a few days.

BNB/USD
Binance Coin (BNB) resumed its uptrend today when the bulls pushed the price to a new all-time high at $41.5372. The upsloping moving averages and the RSI in the overbought zone suggest that bulls are in control.

BNB/USDT daily chart. Source: TradingView

The next target on the upside is $46 and then $50. This zone is likely to act as a stiff resistance.

However, the current breakout is facing profit booking above $40. If the bulls fail to sustain the price above $40, the BNB/USD pair may remain range-bound between $36 and $40 for a few more days.

A break below the 20-day EMA ($34.99) will suggest that the bullish sentiment has weakened and traders have started booking profits.

BNB/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bears are selling aggressively above the $41 levels, as seen from the long wicks on the latest two candlesticks.

If the price dips back below $40, it could find support at the 20-day EMA. A strong rebound off this level will suggest demand at lower levels and the bulls may again try to resume the uptrend.

Conversely, if the bears sink the price below the moving averages, it will suggest a possible change in the short-term trend.

UNI/USD
Uniswap (UNI) broke out of the $2.90 to $4 tight consolidation on Dec. 30 and surged to $5.29 on Dec. 31. The bears are currently attempting to stall the up-move at the $5.60 resistance but the positive sign is that the bulls have not given up much ground.

UNI/USDT daily chart. Source: TradingView

The upsloping 20-day EMA ($4.06) and the RSI above 67 suggest that the path of least resistance is to the upside. If the bulls can drive the price above $5.60, the UNI/USD pair could extend the uptrend and rally to $7.50 and then to $8.60.

Contrary to this assumption, if the price again turns down from $5.60, the pair may remain range-bound between $4.50 and $5.60 for a few days. The positive view will be refuted if the bears sink the price below the $4 support.

UNI/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the price has broken out of the symmetrical triangle. If the bulls can sustain the breakout, the pair could start its journey to the pattern target at $6.

On the contrary, if the price slips back into the triangle, it could drop to the 20-EMA. A strong rebound off this support will indicate accumulation at lower levels and the bulls will once again try to resume the up-move.

This positive view will be invalidated if the pair turns down from the current levels and breaks below the triangle.

[hair]

Wow, all top coin prices have increased, DOT is one of the top coins newcomers who promise has shown a great performance

[robertsmark]

Bitcoin is Down. Time to buy the Dip.

[MrSpasybo]

Week 10: 10-17/1

Bitcoin's brief period of consolidation has opened a path for select altcoins to rally higher.

Bitcoin (BTC) price has yet to recapture the $40,000 level and traders who were expecting a quick resumption of the uptrend may have been caught off guard by the recent pullback. This could have led to the liquidation of about $500 million worth of cryptocurrency futures positions in the past 24 hours.

Over leveraged positions provide the necessary ammunition during the uptrend, but they become a liability when the trend reaches an inflection point.

When the markets turn down, leveraged long positions quickly turn into a loss, resulting in margin calls from brokers. When the margin requirements are not met, the brokers dump the positions at market price, leading to a sharp plunge.

Therefore, data indicating a reduction in leveraged Bitcoin positions in the past few days is a positive sign as it decreases the risk of cascading liquidati.

Crypto market data daily view. Source: Coin360

While a sharp fall is usually avoided when the markets are not overleveraged, sustained buying is needed to maintain the higher levels. If that does not happen, the price continues to correct gradually.

Grayscale Investments has been one of the major buyers in the past few months but they now have a new competitor, Osprey Funds, which began quoting in the over-the-counter market on Jan. 15 under the ticker symbol OBTC. The firm is offering a competitive management fee structure compared to Grayscale.

This is a positive sign for crypto markets because if both these firms attract institutional investors, the buying may resume and Bitcoin can reverse course to pursue new highs.

While Bitcoin remains stuck in a range, select altcoins are running hard. Let’s study the charts of the top-5 cryptocurrencies that may be favored by the bulls in the next few days.

BTC/USD
Bitcoin is currently consolidating in an uptrend. The price action of the past few days has formed a symmetrical triangle, which generally acts as a continuation pattern. The long tail on today’s candlestick shows the bulls are buying the dips to the 20-day exponential moving average ($34,241).

BTC/USDT daily chart. Source: TradingView

The upsloping moving averages and the relative strength index (RSI) in the positive territory suggest that bulls are in control. If the buyers can push the price above the triangle, the next leg of the uptrend could begin.

The first stop could be the current all-time high at $41,959.63, but if the bulls can propel the price above it, the BTC/USD pair may rally towards the pattern target at $50,000.

Contrary to this assumption, if the rebound fails to find buyers at higher levels, the bears may try to sink the price below the triangle. If they succeed, the pair may drop to the 38.2% Fibonacci retracement level at $29,688.10.

This level may attract buyers but if the bulls fail to push the price above the 20-day EMA, then the correction could deepen to the 50-day simple moving average ($26,581).

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bulls have purchased the drop to the support line of the symmetrical triangle but they may face resistance at the moving averages that are sloping down.

If the price turns down from the moving averages, the bears will try to sink the price below the triangle. If they succeed, a deeper correction is likely.

On the contrary, if the bulls can push the price above the moving averages, the pair may rise to the resistance line of the symmetrical triangle. A breakout of this resistance may start the uptrend.

However, if the price turns down from the resistance line of the triangle, the pair may trade inside the triangle for a few more days.

LINK/USD
Chainlink (LINK) broke above the $20.1111 resistance on Jan. 15 and followed it up with another up-move on Jan. 16, hitting a new all-time high at $22.96. But the long wick on the Jan. 16 candlestick suggests profit-booking at higher levels.

LINK/USDT daily chart. Source: TradingView

The price rebounded off the $20.1111 breakout level today, suggesting that the bulls have flipped this level to support. If the bulls can now push the price above $23, the LINK/USD pair could rally to $27 and then to $30.

The upsloping 20-day EMA ($16.25) and the RSI near the overbought zone suggest bulls are in control.

Contrary to this assumption, if the price turns down and breaks below $20.1111, the next stop is likely to be $17.7777. This is an important support because a break below it will indicate a possible change in trend.

LINK/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the breakout above $20.1111 had pushed the RSI deep into the overbought territory, which may have attracted profit-booking from short-term traders.

However, the positive sign is that the bulls aggressively purchased the dip to the 20-EMA. If the bulls can sustain the price above $21.5709, the pair may retest $22.96. A break above this resistance may resume the uptrend. The upsloping moving averages and the RSI in the positive zone suggest bulls have the upper hand.

This bullish view will invalidate if the bears sink and sustain the price below the 20-EMA. Such a move could pull the price down to $17.7777, indicating the momentum has weakened.

UNI/USD
Uniswap (UNI) is currently in an uptrend but is facing selling above the $9 mark as seen from the long wick on Jan. 16 and today’s candlestick. If the bulls do not give up much ground, it will suggest traders are not rushing to the exit after the recent rally and are buying on dips.

UNI/USDT daily chart. Source: TradingView

The upsloping 20-day EMA ($6.15) and the RSI in the overbought territory suggest bulls have the upper hand. If the UNI/USD pair stays above the 38.2% Fibonacci retracement level at $7.4725, the bulls will try to resume the uptrend.

If they can push the price above $9.3776, the rally could extend to $12.4597 and then to $15.

Contrary to this assumption, if the bears sink the price below $7.4725, the pair may drop to the 20-day EMA. Usually, a deep correction suggests that the momentum has weakened and that may result in a few days of range-bound action.

UNI/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the pair is currently consolidating after the recent sharp up-move. The bulls are buying the dip to the $8 support and the bears are selling above $9.

If the bulls can push the price above the $9 to $9.3776 overhead resistance, the uptrend could resume.

On the other hand, if the bears sink the price below the 20-EMA, the decline could extend to the 50-SMA. Such a move could keep the pair range-bound for a few days.

XTZ/USD
Tezos (XTZ) had been stuck inside the $2.85 to $1.85 range for the past few weeks. The bulls are currently attempting to push the price above the range and start a new uptrend.

XTZ/USDT daily chart. Source: TradingView

However, the long wick on the Jan. 16 candlestick shows that the bulls are finding it difficult to sustain the price above the range. Today, the long wick and the tail on the candlestick indicates indecision among the bulls and the bears.

If the bulls can sustain the price above $2.85, the possibility of the start of a new uptrend increase. The upsloping 20-day EMA ($2.48) and the RSI above 66, suggest the path of least resistance is to the upside.

The first target objective on the upside is $3.90 and then $4.4936. This bullish view will negate if the XTZ/USD pair drops and breaks below the 20-day EMA.

XTZ/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bulls had pushed the price above $2.85 but they could not build upon the strength, which led to a correction. However, the bulls aggressively purchased the dip to the 20-EMA and are now trying to drive the price above $3.1838. If they succeed, the uptrend could resume.

On the contrary, if the price turns down from the current levels or the overhead resistance and drops below the 20-EMA, it could correct to the 50-SMA. A break below this support could signal that the recent breakout above $2.85 was a bull trap.

ATOM/USD
Cosmos (ATOM) rose above the stiff resistance at $8.877 on Jan. 16 and made a new all-time high at $9.60. Whenever the price hits a new all-time high, it is a sign that bulls are in command.

ATOM/USDT daily chart. Source: TradingView

However, the bears have not given up yet as they have pulled the price back below $8.877 and are attempting to trap the aggressive bulls. The bullish momentum could weaken if the bears sink the price below the 61.8% Fibonacci retracement level at $7.093.

Conversely, if the bulls can defend the zone between the 38.2% retracement at $8.05 and the 50% retracement at $7.572, it will suggest strong demand at lower levels.

If the price turns up from this support zone, the bulls will try to resume the uptrend. A break above $9.60 could push the ATOM/USD pair to $12.10 and then to $13.974.

ATOM/USDT 4-hour chart. Source: TradingView

Both moving averages are sloping up and the RSI is in positive territory, indicating that bulls have the advantage. The pair has bounced off the 20-EMA and the bulls will now try to push the price above the $8.877 overhead resistance.

If they succeed, the pair could rise to $9.60 and a break above it will signal resumption of the uptrend. Conversely, if the bears sink the price below the 20-EMA, it will suggest that the momentum has weakened and a drop to $7.50 and then to the 50-SMA is possible.

[Redix]

There are many top altcoins that deserve to watch every week. ADA, XLM, TRX, TON, LTC are examples of five altcoins to watch regularly if you invest or hold those coins. Honestly, I am holding some of them and expect the new ATH of those altcoins. But I believe this year will be the altcoins season time.

[hair]

There are many top altcoins that deserve to watch every week. ADA, XLM, TRX, TON, LTC are examples of five altcoins to watch regularly if you invest or hold those coins. Honestly, I am holding some of them and expect the new ATH of those altcoins. But I believe this year will be the altcoins season time.

TRX is one of the coins that I always Watch like DOT, BNB, LINK and Waves. this coin has the potential to continue to increase in price every week. I also same expect the altcoin season will form a new ATH this year

[MrSpasybo]

Week 18-24/1: BTC, ETH, DOT, AAVE, SNX

Select altcoins are rallying to new all-time highs while Bitcoin remains pinned below $33,000.

As Bitcoin price trade sideways, traders are keeping an eye out for new purchases from institutional investors in order to gauge whether BTC's correction is over.

MicroStrategy’s recent purchase of 314 Bitcoin at an average price of $31,808 is a mild sentiment booster but it may not be enough to arrest the decline if buyers do not step in and sustain their purchases at higher levels.

A recent timezone analysis by QCP Capital divided the Asia and U.S. trading sessions into a 12-hour bracket and found that since March 2020 Bitcoin price had risen during U.S. hours due to sustained buying from institutional investors. However, this buying momentum from the U.S. has shown signs of exhaustion for the first time since Bitcoin topped out about two weeks ago.

Crypto market data daily view. Source: Coin360

While keeping an eye on institutional investor inflow is a good strategy, it's also important to monitor what is happening on the retail side.  In the past few months, retail investor volume has picked up and this is supporting equity markets across the globe.

Bitcoin may be struggling to reclaim its all-time high but during this time a handful of altcoins have rallied to new highs. This shows that retail traders are currently focusing on altcoins.

Let’s study the charts of the top-5 cryptocurrencies that could trend in the next few days.

BTC/USD
Bitcoin’s bounce off the 50-day simple moving average ($28,632) is facing resistance near the 20-day exponential moving average ($33,775). The failure to rise above the 20-day EMA is a negative sign as it shows a possible change in sentiment from buying on dips to selling in each rally.

BTC/USDT daily chart. Source: TradingView

The 20-day EMA has started to slope down and the relative strength index (RSI) has been trading below the 50 level, suggesting that the bears are trying to make a comeback. The inside day candlestick pattern on Jan. 23 and today shows indecision among the bulls and the bears.

If the uncertainty resolves to the downside, the bears will try to establish their supremacy and sink the BTC/USD pair below the 50-day SMA. If they succeed, it could result in a deeper correction to the 50% Fibonacci retracement level at $25,897.42 and then to the 61.8% retracement level at $22,106.73.

On the contrary, if the bulls thrust the price above the 20-day EMA, the pair may rise to the downtrend line, where they are again likely to face stiff resistance. If the price turns down from this level and breaks below the 20-day EMA, it will suggest the bears are selling on rallies, but if the bulls push the price above the downtrend line, it will indicate the correction may be over.

A close above the downtrend line will increase the possibility of a retest of the all-time high at $41,959.63. A break above this resistance could result in a rally to $50,000.

BTC/USDT 4-hour chart. Source: TradingView

The downsloping moving averages and the RSI in the negative zone on the 4-hour chart shows the bears have the upper hand. The price action shows a bearish descending triangle formation that will complete on a breakdown and close below $30,450. The pattern target of this setup is $18,940.37.

Contrary to this assumption, if the bulls can propel the price above the moving averages, the pair could rise to the downtrend line. This is a critical resistance to watch out for because a break above it will invalidate the bearish setup. If that happens, it could catch the aggressive bears on the wrong side, resulting in a short squeeze that could drive the price to a new all-time high.

ETH/USD
Ether (ETH) has climbed above the $1,300 overhead resistance, and the bulls are attempting to resume the up-move. The upsloping moving averages and the RSI above 61 suggest the bulls are in control.

ETH/USDT daily chart. Source: TradingView

If the price sustains above $1,300, the ETH/USD pair could retest the all-time high at $1,438.318. A breakout and close above this resistance may start the journey to the target objective at $1,675.

On the other hand, if the price turns down from the overhead resistance, the pair may drop to the 20-day EMA ($1,166). A rebound off this support will increase the possibility of the resumption of the uptrend.

However, if the next drop breaks below the uptrend line, it will indicate a possible change in trend. The next support on the downside is at the 50-day SMA ($882).

ETH/USDT 4-hour chart. Source: TradingView

The bears are currently attempting to defend the $1,350 overhead resistance. If the price turns down from the current level, it could find support at the moving averages. A bounce off this level will suggest bulls are buying on every minor dip, and this will enhance the prospects of a breakout of $1,350.

Contrary to this assumption, if the bears sink the price below the moving averages, the pair could drop to the uptrend line. A break below this support will signal a change in sentiment and may result in a deeper correction.

DOT/USD
Polkadot (DOT) is currently range-bound between the high at $19.40 and the 38.2% Fibonacci retracement level at $14.7259. A consolidation near the all-time high is a positive sign as it shows traders are not rushing to book profits.

DOT/USDT daily chart. Source: TradingView

The bears are currently defending the overhead resistance at $19.40. This could extend the stay of the DOT/USD pair inside the range for a few more days

However, the upsloping 20-day EMA ($14.11) and the RSI near the overbought territory suggest the bulls have the upper hand. If buyers can drive the price above $19.40, the next leg of the up-move could begin. The first target on the upside is $24 and then $30.

This positive view will invalidate if the pair turns down and breaks below the 20-day EMA. Such a move could open the possibility of a deeper fall to the 61.8% Fibonacci retracement level at $11.8383.

DOT/USDT 4-hour chart. Source: TradingView

The pair has turned down from the overhead resistance, which suggests the bears are unwilling to give up without a fight. The flattening 20-EMA and the RSI near the midpoint on the 4-hour chart shows a balance between supply and demand.

If the bears sink the pair below the 50-SMA, a drop to $16 and then to $14.7259 is possible. The bulls are likely to buy this dip and try to keep the price inside the range. The next trending move could start after the price breaks above $19.40 or sinks below $14.7259.

AAVE/USD
AAVE is in a strong uptrend and has been hitting new highs for the past few days, which shows traders continue to buy at every higher level. In an uptrend, the bulls buy the dips to the 20-day EMA and that was seen during the recent fall on Jan. 21.

AAVE/USDT daily chart. Source: TradingView

The current leg of the uptrend has a target objective at $263.23 and then $294.229. The wick on today’s candlestick suggests bears are attempting to stall the rally near the psychological resistance at $250.

If the price turns down from the current level, the first support is at $200 and then at the 20-day EMA at $166. The upsloping moving averages and the RSI in the overbought zone indicate bulls are in command.

The first sign of weakness will be a breakdown and close below the 20-day EMA. Such a move will suggest that supply has exceeded demand from dip buyers and that could be a sign of a trend change.

AAVE/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the price is trading inside an ascending channel. If the price dips from the current levels, it could drop to the support line of the ascending channel where buyers are likely to step in.

A break below the channel could sink the price to the 20-EMA. A strong rebound off this support will suggest that bulls continue to accumulate on dips. However, a break below the moving averages will open the doors for a deeper correction.

SNX/USD
Synthetix (SNX) witnessed a sharp correction on Jan. 21 but it quickly recovered and is currently attempting to resume the uptrend. Aggressive buying near the 50% Fibonacci retracement level at $10.744 on Jan. 22 shows demand at lower levels.

SNX/USDT daily chart. Source: TradingView

Both moving averages are sloping up and the RSI has bounced from the midpoint, indicating the path of least resistance is to the upside. If the bulls can propel the price above $17.150, the next leg of the uptrend could begin.

The next target on the upside is $20 and then $24.083. However, if the price turns down from $17.150, the SNX/USD pair may dip to the 20-day EMA ($13.68), which is likely to act as strong support.

SNX/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bears are attempting to defend the $17 overhead resistance. If the price turns down from the current level, the pair could drop to the moving averages and then to $14. A consolidation between $14 and $17 will be a positive sign and increase the possibility of a break above $17.15.

Contrary to this assumption, if the price breaks below $14, the correction could deepen to $11.263. Such a move will suggest the bullish momentum has weakened. A break below $11.262 may pull the price down to the 61.8% Fibonacci retracement at $9.232 and then $7.880.

[MrSpasybo]

Week 25-31/1 BTC, ETH, UNI, ATOM, COMP

Bitcoin price fell back into the descending triangle but this dip may attract buyers to altcoins and DeFi tokens in the short term.

Over the past seven days, the crypto market saw an uptick in volatility as Bitcoin (BTC) and Dogecoin (DOGE) price rallied higher simply because of social media activity. In situations like these, traders who make their investment decisions based on emotions tend to incur heavy losses and this is exactly what happened last week.

Dogecoin’s (DOGE) recent pump and dump caused several new traders who bought due to FOMO to lose money within a short time and this scenario is likely to play out again as social media groups have decided that collective pumps of altcoins is a new method of investing.

A similar trend currently seems to be developing in Bitcoin (BTC), which has retraced a large portion of the up-move that was caused due to the “Elon pump” on Jan. 29. This shows that barring a few emotional buyers, most professional traders may have used the rally to lighten their long positions.

Crypto market data daily view. Source: Coin360

Stack Funds head of research Lennard Neo believes the Bitcoin miners are selling on rallies and that trend may continue as the Chinese New Year holiday approaches. Neo expects Bitcoin’s price to remain volatile in the near term.

Even as Bitcoin’s price consolidates, the decentralized finance tokens continue to surge, which suggests traders' focus has shifted to the DeFi space. Let’s analyze the charts of the top-5 cryptocurrencies that could trend in the next few days.

BTC/USD
Bitcoin’s long wick on Jan. 29 shows the bears aggressively sold the rally above the downtrend line of the descending triangle. That was followed by a Doji candlestick pattern on Jan. 30, indicating indecision among the bulls and the bears.

BTC/USDT daily chart. Source: TradingView

The failure of the bulls to push the price above the downtrend line today has attracted further selling. The bears are currently trying to sustain the price below the 20-day exponential moving average ($33,395).

If they succeed, the BTC/USD pair may drop to the 50-day simple moving average ($30,631) and then to $28,850.

A breakdown and close below $28,850 will complete the bearish descending triangle pattern that has a target objective at $15,741. However, it is unlikely to be a straight fall because the bulls will try to arrest the decline at the 50% Fibonacci retracement level at $25,897.42 and again at the 61.8% retracement at $22,106.73.

This negative view will invalidate if the price turns up from the current level or rebounds off the $28,850 support and sustains above the downtrend line. Such a move will suggest strong accumulation at lower levels, which could result in a rise to $40,000.

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the breakout above the downtrend line met with strong selling pressure and the price quickly retracted back into the triangle.

The failure of the bulls to push the price back above the downtrend line has attracted selling and the bears have pulled the price below the 20-EMA. The bulls are currently attempting to defend the 50-SMA but if this support also cracks, the pair may start its journey towards $28,850.

This negative view will invalidate if the price rebounds off the current level and rises above the downtrend line. Such a move could push the price to $38,519.63.

ETH/USD
Ether (ETH) broke above the $1,400 resistance on three previous occasions but the bulls could not sustain the breakout, which shows profit-booking at higher levels. However, the positive thing is that the bulls have not given up much ground in the past few days. This shows the bulls are accumulating on dips.

ETH/USDT daily chart. Source: TradingView

The ETH/USD pair had formed a Doji candlestick pattern on Jan. 30, indicating uncertainty. That indecision has resolved to the downside today and the pair may now drop to the 20-day EMA ($1,253), which is likely to act as strong support.

A bounce off the support will suggest the sentiment remains bullish and traders are buying on dips. The bulls will then try to resume the uptrend. If the bulls can drive the price above the $1,400 to $1,473.096 resistance zone, the pair could rally to $1,675 and then to $2,000.

This bullish view will invalidate if the bears sink the price below the 20-day EMA and the uptrend line. In such a case, the pair may drop to the 50-day SMA ($990).

ETH/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of an ascending triangle pattern, which will complete on a breakout and close above $1,440. This bullish setup has a target objective of $1,768.

However, the moving averages have flattened out and the relative strength index (RSI) is just below the midpoint, which suggests a balance between supply and demand.

If the bears sink the price below the support line of the triangle, it will invalidate the pattern. The next support on the downside is the uptrend line and then $1,050.

UNI/USD
Uniswap (UNI) is in a strong uptrend that has pushed the RSI deep into the overbought territory. While the RSI can remain overbought for an extended period, traders should be cautious as corrections from overbought levels can be swift and sharp.

UNI/USDT daily chart. Source: TradingView

The first support on the downside is the 38.2% Fibonacci retracement level at $15.3963. If the price rebounds off this level, it will suggest the bulls are aggressively buying the dips and are not waiting for a deeper correction to enter.

If the bulls can push the price above $20.5612, the UNI/USD pair could rally to $28 and then to $32. Both moving averages are rising and the RSI is above 79, indicating the bulls are in control.

However, if the correction deepens below $15.3963, the next support is at the 20-day EMA ($11.85), which is near the 61.8% Fibonacci retracement level at $12.2054. A deeper fall usually delays the start of the next leg of the uptrend.

UNI/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the pair has made a flag pattern. If the bulls can push the price above the flag, the uptrend could resume and the pair may rally to $22 and then to $25.

Another possibility is that the pair continues to correct and drop to the 20-EMA. If the price rebounds off this support, it will suggest the sentiment remains positive and the bulls are buying on minor dips.

During the current leg of the uptrend, the price has repeatedly taken support at the 20-EMA. Therefore, a break below the 20-EMA will suggest the bullish sentiment may be waning and could result in a drop to $15.3963 and then to the 50-SMA.

ATOM/USD
Cosmos (ATOM) has formed a cup and handle pattern that will complete on a breakout and close above $8.877. If the bulls can propel the price above the $10.20 resistance, the uptrend could begin.

ATOM/USDT daily chart. Source: TradingView

The first target on the upside is $11.151 and the next level to watch out for is $13.554. The rising moving averages and the RSI’s bounce from the midpoint suggest the bulls have the upper hand.

If the bears sink the price below the 20-day EMA ($7.65), the ATOM/USD pair may remain range-bound between $6.603 and $8.877 for a few more days.

The bullish assumption will be negated if the bears sink and sustain the price below the 50-day SMA ($6.4). Such a move may pull the price down to $5.50 and then to $4.50.

ATOM/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bulls have pushed the price above the downtrend line of the descending triangle. This has invalidated the bearish setup but the bulls are struggling to thrust the price above the $8.877 resistance.

The flat moving averages and the RSI near the midpoint suggest the pair may remain range-bound between $8.877 and $6.726 for some more time. If the bulls can propel the price above $8.877, the pair could rise to $10.20, while a break below $6.726 will suggest the bears are trying to make a comeback.

COMP/USD
Compound (COMP) completed a rounding bottom pattern on Jan. 29 when it broke and closed above the $272.61 resistance. This reversal setup has a target objective of $464.60.

COMP/USDT daily chart. Source: TradingView

The upsloping moving averages and the RSI near the overbought territory suggest bulls are in command. After the breakout from a pattern, the price usually retraces and retests the breakout level, but if the trend is very strong, it only consolidates or enters a minor correction before resuming the up-move.

If the COMP/USD pair rebounds off $272.61, it will suggest the bulls have flipped the previous resistance into support. That could then act as a launchpad for the next leg of the uptrend.

This positive view will invalidate if the bears sink and sustain the price below $272.61. Such a move will indicate profit-booking at higher levels and a lack of buying on dips.

COMP/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows traders booked profits near $340 but the correction was short-lived as the price turned up from $304.84. If the bulls can now drive the price above $340, the pair may rally to $405.

On the other hand, if the price again turns down from $340, the pair may drop to the 20-EMA. If the price rebounds off this support, the bulls will again try to resume the up-move, but if the bears sink the pair below the 20-day EMA, a drop to $272.61 will be on the cards.

[Marcolus]

Thank you very much bro I have seen the updated news in these posts. Even then my idea is that the price of Bitcoin will exceed 50 thousand dollars in a few days and at the same time the price of Etherium will exceed 2000 dollars.  And at the same time the price of all other alert coins will increase.

[MrSpasybo]

Week 8-14/2: BTC, BCH, EOS, XMR, XTZ

Bitcoin is facing minor resistance near $50,000 but if this psychological barrier is crossed, a major breakout could occur in select altcoins.

Demand and supply metrics determine the price of an asset and data from Glassnode, an on-chain data firm, shows that Bitcoin’s (BTC) liquid supply has been decreasing since June 2020. This signals that traders owning Bitcoin are not selling their holdings.

While the supply is shrinking, demand has been going up in the past few months as an increasing number of institutional investors have been buying Bitcoin.

Bloomberg recently reported that Morgan Stanley Investment Management’s subsidiary Cointerpoint Global “is exploring whether the cryptocurrency would be a suitable option for its investors.”

According to Morgan Stanley’s website, Counterpoint Global chooses to invest in assets “whose market value can increase significantly for underlying fundamental reasons.” This suggests that the bank believes Bitcoin may be undervalued compared to its fundamentals.

Crypto market data daily view. Source: Coin360

 JPMorgan Chase also hinted that it might eventually introduce Bitcoin services. JPMorgan’s co-president Daniel Pinto believes that if investors and asset managers start using Bitcoin, the bank “will have to be involved.” Pinto however said that the current demand was not strong enough, but conceded it may grow in the future.

Even though Bitcoin has risen sharply in the past few months, its dominance has fallen from about 69.71% on Jan. 4 to 60.9% currently. This shows that altcoins have outperformed Bitcoin in the past few weeks. With an eye on altcoins, let’s study the charts of the top-5 cryptocurrencies that may trend in the next few days.

BTC/USD
Bitcoin broke above the $41,959.63 resistance on Feb. 8 with a strong up-move, but since then, the momentum has weakened. Although the price has been nudging higher, the leading cryptocurrency is facing profit-booking at intermittent levels.

BTC/USDT daily chart. Source: TradingView

If the price turns down from the current levels and slips below $46,000, the correction could deepen to the strong support at $41,959.63. If the BTC/USD pair rebounds off this support, it will suggest the bulls continue to accumulate on dips, which is a sign that the uptrend is intact.

The bulls will then try to drive the price above the psychological barrier at $50,000 and resume the uptrend with the next target objective at $60,974.43. On the other hand, if the bears sink the price below the 20-day exponential moving average ($41,349), the pair may drop to the 50-day simple moving average ($36,070).

This is an important support to watch out for because the price has not dipped below the 50-day SMA since Oct. 9. Hence, a break below it will indicate a possible change in trend. The next support on the downside is much lower at $28,850.

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the pair has formed a rising wedge pattern that will complete on a breakdown and close below the support line. If that happens, the pair may drop to $43,720.85 and then to $41,959.63.

Contrary to this assumption, if the price turns up from the current levels or the 20-EMA and rises above the wedge, it will invalidate the bearish setup. A breakout above $50,000 could attract short-covering from the aggressive bears and may result in a quick up-move to $55,000.

BCH/USD
Bitcoin Cash (BCH) broke above the $539 resistance on Feb. 12 and this attracted buying from the bulls. The altcoin picked up momentum and soared above the $631.71 resistance on Feb. 13

BCH/USD daily chart. Source: TradingView

The long wick on today’s candlestick suggests short-term traders may be booking profits after the recent runup. The BCH/USD pair may now correct to $631.71 and if the bulls can flip this level into support, it will indicate buying on every minor dip.

If the bulls can push the price above $730.02, the uptrend could reach $900. Both moving averages are sloping up and the relative strength index (RSI) is in the overbought zone, suggesting an advantage to the bulls.

Contrary to this assumption, if the price dips and sustains below $631.71, the correction could deepen to $539.

BCH/USD 4-hour chart. Source: TradingView

The 4-hour chart shows the bears are defending the $720 resistance and the bulls are buying on dips to $650. If the buyers can propel the price above $730.02, the uptrend could resume.

On the other hand, if the price again turns down from $720, the bears will try to pull the price down to $631.71. If this support cracks, the decline could extend to the 20-EMA and then to the 50-SMA.

EOS/USD
EOS broke out of the long basing formation and started a new uptrend when it soared above the $3.95 overhead resistance on Feb. 9. The altcoin picked up momentum and the bulls pushed the price above the $5.4861 resistance on Feb. 13.

EOS/USD daily chart. Source: TradingView

However, the failure to sustain the price above $5.4861 may have attracted profit-booking from the short-term traders. This has started a correction that could extend to the 38.2% Fibonacci retracement level at $4.5014.

If the price rebounds off this level, the bulls will again try to push and sustain the price above the $5.4861 to $5.6118 overhead resistance. Contrary to this assumption, if the bears sink the price below $4.5014, the EOS/USD pair could drop to $3.95.

Such a deep correction will suggest that the momentum has weakened and the pair could then consolidate in a wide range between $3.95 and $5.6118 for a few days.

EOS/USD 4-hour chart. Source: TradingView

The 4-hour chart shows that the bulls have purchased the dip to the 20-EMA. If the pair sustains the rebound, the bulls will again try to push the price above $5.6118. If they succeed, the uptrend could resume.

The next target objective on the upside is $6 and if that level is also scaled, the uptrend could reach $7.50. On the other hand, a break below the 20-EMA could extend the correction to the 50-SMA.

XMR/USD
Monero (XMR) broke above the $190 resistance on Feb. 12 and resumed the uptrend. The 20-day EMA ($174) has turned up and the RSI has moved into overbought territory, which suggests the bulls are in command.

XMR/USDT daily chart. Source: TradingView

The bears are currently defending the psychological level at $250. The first support on the downside is the 38.2% Fibonacci retracement at 213.6152. If the price rebounds off this level, it will suggest that traders are viewing the dips as a buying opportunity.

A break above $254.45 will open the doors for a rally to $300 where the bears may again mount a stiff resistance.

Contrary to this assumption, if the bears sink the price below $213.6152, the correction may deepen to $190. Such a deep fall may delay the start of the next leg of the uptrend.

XMR/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bears are defending the $240 to $254.45 resistance zone but the positive sign is that the bulls have not given up much ground. If the price rises from the current level or rebounds off the 20-EMA, it will signal strength.

If the bulls can push the price above the overhead resistance, a rally to $268 and then to $300 is likely. This bullish view will invalidate if the XMR/USD pair dips and closes below the 20-EMA.

XTZ/USD
Tezos (XTZ) broke above the previous all-time high at $4.4936 on Feb. 12 and has made a new high at $5.6471 today. Whenever an asset hits a new high, it indicates that bulls are in control.

XTZ/USDT daily chart. Source: TradingView

Another thing that usually happens when a major resistance is broken is that the price turns down and retests the breakout level. In this case, the price could dip to the breakout level at $4.4936.

If the price rebounds off this level, it will suggest that traders are buying on dips and have flipped the previous resistance to support. The bulls will then attempt to resume the uptrend by pushing the price above $5.6471.

If they succeed, the XTZ/USD pair could rally to $7.1407. This bullish view will invalidate if the pair breaks and sustains below $4.4936.

XTZ/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bulls could not sustain the price above $5.40, which may have attracted profit-booking from short-term traders. The bulls are currently attempting to defend the 20-EMA.

If the price rebounds off this support, it will signal strength. A break above $5.6471 may resume the up-move. On the other hand, if the price dips below the 20-EMA and the $4.4936 support, the correction could deepen to the 50-SMA.

[strane]

It seems to me that there are even more promising cryptocurrencies that should be watched than we think. We just do not have time to cover and analyze everything. I buy major cryptocurrencies using such an exchange and it suits me in all respects, even more than, I would say. If you also don't know which option you should choose, keep in mind.