Price Analysis of BTC and ETH

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

Tue Jan 07, 2020 7:35 am

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A look at the chart of BTC/USD shows that the price of Bitcoin is over both moving averages, which are about to exhibit a bullish crossover. The RSI is now in the positive zone, suggesting that buyers have a little opportunity. The price may visit the overhead hurdle at $7,856.76.

A successful surge of over $7,856.76 could provide the momentum for a rally to $10,360.89. Nevertheless, the ability of the sellers to take a stand at $7,856.76 could make the pair to stay within a range for some days. If the price moves under $7,000, it is the initial sign that sellers have taken over. The resumption of a downtrend will happen under $6,435.

On January 5, the price of Ether surpassed and closed over the hurdle line of the symmetrical triangle. It attained the 50-day SMA, which could become a minor hurdle.

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