Bitcoin post-Christmas rally weaker than its altcoins

By December 30, 2019 DApps
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Bitcoin (-0.16%) continued moving up during the weekend, but with doubts among buyers, whereas Bitcoin SV, Litecoin and Bitcoin cash move over 3.5% in the last 24H. Also strong move Binance Coin (+5-15%), Ethereum (+4.7%), and Ripple (+2.47%). In the Ethereum token section, the best top capitalized performer is Maker (MRK +5.48%). Also worth mentioning UTT (+12%) and Quant (QNT) (+20%).

Chart

Fig 1 - 24H Crypto sector Heat Map

The Market Capitalization moved up 1.4% in the last 24 hours and now is $197.1 billion. The traded volume also grew to $17.2 billion (+26.6%). The weakness of the Bitcoin Rally made it lose a bit of dominance, which now is $68.08%.

Chart

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Technical Analysis - Bitcoin

Bitcoin

Chart 1 - Bitcoin 4H Chart

Bitcoin has made another upward leg after the reversal candle made on Dec 17. The price is now over the $8,400 level, and its closest resistance level moves to $7.525. In the 4H chart, we see the price moving following the +1SD line and the MACD in a bullish phase, confirming the upward bias of BTC.

SUPPORT

PIVOT POINT

RESISTANCE

7,300

7,425

7,525

7,200

7,680

7,125

7,800

Ripple

Ripple

Chart 2 - Ripple 4H chart

Ripple has created an upward leg since its Dec 27 reversal figure. The price moves above the +1SD line, and the MACD is in a bullish phase. Since it seems the price is moving in a horizontal channel, The $0.2 is a potential reversal level. Therefore, some selling pressure could happen after a pierce through this level. If that level is successfully broken, the next target for the buyers is $0.214.

SUPPORT

PIVOT POINT

RESISTANCE

0.1930

0.1960

0.2000

0.1900

0.2040

0.1860

0.2080

Ethereum

ETHEREUM

Chart 3 - Ethereum 4H Chart

Ethereum has moved rather bullishly during the weekend. Its price went from $127 to the current $135.3, a 6.3% increase. The price is currently moving above its +1SD line, and the MACD is bullish. We see its price a bit overextended, so we think it will pause a bit before resuming its probable way up.

SUPPORT

PIVOT POINT

RESISTANCE

130.00

132.00

135.00

127.00

138.00

123.00

140.00

Litecoin

Litecoin

Chart 4 - Litecoin 4H Chart

Litecoin gained four dollars in valuation since last Dec 27 engulfing candle. The price moved from its $40 support to close to $44, following its +1SD line, and making a new higher high, while breaking the descending trendline. We still think the price has room to move up to $45 and beyond.

SUPPORT

PIVOT POINT

RESISTANCE

42.50

43.20

44.00

41,.6

45.00

40.80

46.30

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