Price Analysis of Bitcoin and Ethereum Against US Dollar

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William D. Baltzell
Posts: 368
Joined: Thu Nov 07, 2019 8:19 am

Thu Jan 30, 2020 6:45 am


On January 28, the price performance of Bitcoin was such that it was able to surge over the 200-day simple moving average at $8,893, and it is a good sign. It is clear that BTC bulls are in control due to the upsloping 20-day EMA as well as the RSI closing in on the overbought area.

Nevertheless, the buyers could encounter a little barrier at $9.6k over which there could be an extension in the rally to $10,360.89. If the price of BTC moves over this level, the immediate level to focus is the long-term downtrend line, which is near $11.7k.

On the other hand, the failure of the buyers to maintain a level over the 200-day simple moving average could make BTC against the USD pair to decline back to the 20-day EMA, and there is a likelihood that it will become powerful support. Things will be negative for the pair if the price moves beneath $7,856.76.

As for ETH against the USD pair, the buyers are trying to take the price over the barrier area between $173.841 and $180. If the buyers succeed, the immediate stop could be $197.75.

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