Price Analysis of BTC/USD and LTC/USD

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

Tue Jan 14, 2020 7:54 am

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The price of BTC has been into consolidation over $7,856.76 within the previous few days, suggesting that buyers are still holding their positions. Both the directions of the 20-day EMA and the RSI suggest that the way of minimum hurdle is to the upside.

There is a likelihood of BTC against the USD pair to gather momentum on a break over $8,452.84. A successful surge over this level could lead the price to $9,500 and possibly $10,360.89.

On the other hand, the ability of the sellers to successfully take the price under $7,856.76 and the 20-day EMA will point to the dearth of demand at higher levels. A decline to $7000 could ensue following the price re-entering the range. A swift move is expected this week.

As regards the performance of ETH, it is on the way to the upside in an ascending channel. It is encountering hurdles near $148. The effort of the sellers is to take the price to the downside under the moving averages. If the sellers succeed, the price will be moved to the channel’s support line.

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