only in 2014 and 2020. If history repeats itself, the possibility of a positive close in February is high but the pace of the rally may slow down.
Could Bitcoin and altcoins stay range-bound and consolidate the gains or will traders book profits, dragging prices lower? Let’s study the charts of the top-10 cryptocurrencies to find out.Bitcoin dipped below the breakout level of $22,800 on Jan. 30 but the bulls purchased at lower levels and pushed the price back above $23,000 on Jan. 31.The upsloping moving averages and the relative strength index near the overbought zone suggest that bulls are in control.
A strong rebound off the current level or the 20-day EMA could again launch the pair toward the overhead resistance of $24,000. A break and close below the 20-day EMA could be the first sign that the bulls may be rushing to the exit. There is a minor support at $21,480 but if that gives in, the pair could retest the psychologically critical level of $20,000.
Get ready Coredao
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