BTC continues to suffer below the psychological level at $50,000 in the first few days of the New Year, signifying a lack of aggressive buying by traders. Former BTCC CEO Bobby Lee said the exit of the Chinese traders from Chinese exchanges may have kept prices lower into the year-end.
BTC
Bitcoin has been trading between the 20-day exponential moving average of ($48,720) and the strong support at $45,456 for the past few days. This suggests that buying dries up at higher levels.Both moving averages are turning down and the relative strength index is in the negative zone, indicating that bears have the upper hand. If the price turns down from the 20-day EMA, the bears will try to sink the price below $45,456.
LUNA
LUNA is attempting to resume its uptrend but the bears have other plans, drawing a line near $93.81.The upsloping moving averages and the RSI in the positive territory suggest a slight edge to the buyers. If the price once again rebounds off the 20-day EMA ($82), it will indicate that bulls continue to accumulate on dips.
FTM
Fantom (FTM) has turned down from the overhead resistance at $2.67, which suggests that bears are defending this level with force. FTM could drop to the 20-day EMA which could act as a strong support. A sharp rebound off this support will suggest that buyers are accumulating on dips.
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