Pension funds in European Union countries have started selling their US bonds, and dark clouds are looming on the macro front this week. While the possibility of a Fed interest rate cut has already been reduced with this month’s employment data, Trump’s showdown with the EU is further suffocating the risk markets. BTC dropped to $87,895.
Bitcoin (BTC) 80,000 Target
Testing 98 thousand dollars BTC It is now $10k down from the peak and struggling to maintain $88k. Although ETH tried to protect $ 3 thousand, it failed and fell to $ 2,900. Trump will make statements in Davos today, and a summary of the statements made throughout the week suggests that tensions may escalate further. It doesn’t look like Trump will back down on Greenland.
Also at the hearing of Fed member Cook today Powell will testify. We saw that debates about the Fed’s independence negatively affected cryptocurrencies last year, so future details about the hearing throughout the day may also fuel fear.
Sharing the chart above, Jelle pointed out the 80 thousand dollar target for BTC.
“50-week MA/EMA cluster lost + BTC bounced back from key resistance level.
“The bulls must work to reverse the outlook of this weekly candlestick chart, otherwise we are likely to return to the $80,000 lows.”
Washigorira is generally known for his optimistic predictions, and even he is uncomfortable with a move back below the impulse candle that initiated the breakout. Stating that this is a negative and notable signal, the analyst says that larger losses may occur as the MACD supports the downward trend.
“This increases the likelihood of a repeat of the previous monthly low or even the previous quarterly low.”
Chiliz (CHZ)
Weak rivals in 2021 Chiliz SportFi has monopolized the field over the years. However, with the end of the NFT enthusiasm, we saw that such fan tokens were also hit hard. That’s why there are over 90% losses CHZ experienced excessive sales. Although it has recovered somewhat recently, the January rise did not last long.
CHZ, which also attracted the attention of Sherpa, may provide a short-term buying opportunity according to the analyst.
“There is one coin that has caught my attention: CHZ. It is slowly losing value, but it has been one of the strongest coins in the last few weeks and I think people are forgetting about it. I am considering buying it around $0.049 and seeing what happens.”
