Price Analysis of BTC/USD and ETH/USD

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

Thu Jan 16, 2020 10:01 am

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The price of BTC consolidated for some days and returned to the upside towards $10,360.89. The move to the upside could encounter hurdle near $9,500 but due to the buyers’ control, the price should surge above the hurdle.

There has been a change in the sentiment from sell on rallies to buy on declines. Therefore, any decline to the 20-day EMA should be considered as chance to go long.

The bullish perspective will not hold after a turn down from the price level at the moment or from $9,500 and decline under the crucial support at $7,856.76.

As for ETH/USD, the price experienced a huge upsurge on January 14, easily scaling over $151.829 to $157.60 overhead hurdle area, showing improvement in the upside momentum. At the moment, the price is encountering minor hurdle at $173.841.

The ability of the price to surge over $173.841 could initiate a move to $197.75. There is the completion of the bullish crossover of the moving averages while the RSI is close to the overbought zone, suggesting the control of the buyers.

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