Bitcoin started Sunday at $95,000 and the charts are moving sideways with the lack of volume over the weekend. We saw a nice rise last week, but when we came to Friday, Bitcoin, which returned empty-handed from the resistance test, also blocked the rise in altcoins. So what is the latest situation in cryptocurrencies?
Bitcoin (BTC)
Moving sideways for a long time after the bear flag breaks down BTC took the support line of the flag as data. Then, we mentioned that this movement could continue up to the $98,000 resistance line. This is exactly what happened and BTC continued to rise to the resistance level, but as predicted after long-term sales, the resistance could not be overcome at once.
So will the trials continue? There is a possibility of a new resistance test as long as Bitcoin, which maintains the peak on January 5-7 as support, does not lose 94 thousand dollars. Maintaining its support level for now, BTC looks strong with its ongoing closings above the insurmountable barrier throughout December.
During resistance testing on January 13 and 14 BTC ETFs It saw total inflows of more than $1.5 billion. However, the possibility of weekend volume loss threatening the $94,000 support and the withdrawal caused an outflow of nearly $400 million on Friday. Inflows are still dominant on a weekly basis, and a significant portion of new ETF investors still believe the rise can continue. The outlook for the coming week is quite positive in this respect.
Cryptocurrencies
Volumes are down quite a bit, but LIT and CHZ have made notable gains in the last 24 hours. lighter (LIT) Although it came to the new generation DEX market as a rival of HYPE and ASTER, it could not recover due to the general market decline. Now this recovery process helps it exceed $ 2. CHZ It has been struggling with overselling for the last 2 years and has experienced a 30 percent weekly increase and more is possible. IP Coin increased by 40 percent on the weekly.
The losers of the day were XMR and CC. ZEC Coin Although Monero started a very strong rise after its team’s escape, such rallies have breathing periods. Post-ATH, XMR may weaken for a while under the influence of profit taking.
