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Technical analysis of BTC/USD for January 01, 2022.

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Trading Cryptocurrency BTC/USD (Bitcoin) :

Weekly Forecast : between 01-01-2022 and 07/01/2022.

Piot Point : 48,027.

As we know that :

1 BTC —> $ 46,739 approximately.
1 ETH —> $ 3,692 approximately.
It follows that : 1 ETH —> 0.0789918483493442 BTC.

Thereby, one Ethereum is only worth 0,0789918483493442 Bitcoin (January 01, 2022).

Bitcoin price prediction :

Remember that Cryptocurrencies are the new money! so, Bitcoin is really a great fortune. Hence, our target $ 70,000 in the next few weeks.

Today, BTC/USD is trading below the weekly pivot point $ 48k. Because BTC/USD broke support which turned to a minor resistance at the price of $ 48,027 last week in 2021. The price of $ 48,027 is expected to act as minor resistance in the first week of 2022.

As long as there is no daily close below$ 45k, there are no chances of a fresh decrease below $ 45,555 (Support 2) in the H1 time frame.

The support levels will be placed at the prices of $ 44k and $ 45k. As long as there is no daily close below $ 44k or/and $ 45k, there are no chances of breaking the bottom of $ 45,555.

The volatility is very high for that the BTC/USD is still moving between $ 45,555 and $ 48,027 in coming hours. As a result, the market is likely to show signs of a bullish trend again.

Hence, it will be good to buy above the level of $ 45k with the first target at $ 47,500 and further to $48,027 in order to test the weekly pivot point.

However, if the BTC/USD is able to break out the daily support at $ $ 45,555, the market will decline further to $ 44,601 to approach support 2 today.

Weekly Forecast :

According to the previous events the price is expected to remain between $ 45,555 and $ 48,027 levels.

Buy-deals are recommended above $ 45,555 with the first target seen at $ 47,000. The movement is likely to resume to the point $ 47,500 and further to the point $ 48,027.

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Crypto industry news (Ethereum News – (Source : cryptonews – coindesk))

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1) –

1-1) : “Binance will maintain its position as the biggest bitcoin futures exchange by open interest,” but it will also “face fierce competition” from FTX.

1-2) : “Binance will maintain its position as the biggest bitcoin futures exchange by open interest,” but it will also “face fierce competition” from FTX.

2) – Investors are buying options against falling prices ahead of a major expiry. Grayscale Investments has $43.6 billion in crypto assets under management (AUM), the digital asset manager tweeted on Friday – a more than 28% decline from the $61 billion the digital asset manager held in early November.

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Please contact me if you have any questions or comments – I’d be delighted to hear from you.

With kind regards,

Mourad EL KEDDANI
mourad.elkeddani@analytics.instaforex.com
The material has been provided by InstaForex Company – www.instaforex.com

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