Bearish Outlook for Bitcoin and Ethereum: Latest Cryptocurrency News Today

Bitcoin (BTC/USD) Evaluation
Bitcoin’s bullish trend is halted, and markets are looking to U.S. Non-Farm Payroll data for an additional route.

Key Highlights
BTC halted a bullish pattern, and lost greater than five p.c due to a subdued sentiment. Markets will be watching the US Non-farm Payroll data for further direction. In the European session, BTC/EUR regained its 200-day EMA.

Technical Evaluation
Intraday pattern – Bearish

The pair has hit an intraday low at $44,244 but is currently buying and trading around $45,245.

The main support is $44,000. Any breach below this level confirms an additional weak point. An increase to $44,000/42,900/422,500/41,700/41,700/42,700/44 is likely going.

Rapid resistance is around $46,000. Any surge to previous targets is $46,700/48,300. Main Bullishness is possible if it breaks the $48,300 level. A bounce up to $52,000/50,000 is possible.

RSI – Bearish

One possible technique would be to extend the length of the strategy above $48,300, with SL around $46,000. This could result in a TP between $52,000 and $55,000.

Day-by-day Outlook for ETH/USD

Key Highlights
Cryptocurrency Terms and DefinitionsRead moreCryptocurrency Terms and Definitions

Ethereum is currently trading at around $3,290.07. At the time this article was written, it had hit a low price of $3,211.

The pair is trading above the Tenken-sen ($3,202), Kijun -sen ($2,964) and Ichimoku Kumo Cloud ($2,791) on the daily chart.

A dip to $3,150/$3,000/$2,940/$2,880/$2,800/$2,800/$2,800/$2,800/$2,800/$2,800/$2,800/$2,800/€2,800/€2,800/€2,800/€2,800/€2,800/€2,800/€2,800/€2,880/€2,800/€2,800/€2,800/€2,800/€2,800/€2,800/€

The rapid support is around $3,300. Any break above this will take the pair up to $3,420/$3,485.

RSI- Bearish

You could choose to buy long on dips around $3200 and SL round $3,000 with a TP of $4,000.

XRP/USD Outlook

Intraday pattern – Impartial

Key support- $0.70, $0.50

Key Resistance- $0.9125

The worth of XRP struggles to close above the 200-day MA. It has lost nearly 15% since a high of 0.91211. A daily shut below $0.780 confirms a extra bearish pattern. At present, it is buying and selling around $0.82028. Short-term pattern reversal if it breaches $1.02 (20th Dec excessive).

One possible technique is to purchase over $0.9050, with SL around $0.8600 and TP at $1.02.

ADA/USD Outlook
Intraday trend- Impartial

Key support- $0.95, $0.80

Key Resistance- $1.30

The ADAUSD is trading lower in line with Bitcoin. A breach above $1.3043 will confirm additional bullishness. It’s currently buying and selling around $1.11460. If it breaks $1.57, the pattern can be reversed.

One possible choice would be to choose a long round of $1 and SL round of $0.79, for a TP $1.570.

Bitcoin Assist /Resistance

R1- $46,000, R2- $48,300, R3- $50,000

S1- $44,000, S2- $43,500, S3- $42,500

R1- $3,300, R2- $3,420, R3- $3,485

S1- $3,200, S2- $3,150, S3- $3,000


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