Top 5 cryptocurrencies to watch this week: BTC, LUNA, ATOM, ACH*, FTM

1/23/2022 9:37:00 PM

BTC is oversold and possibly ready for a relief bounce, but this could be a trap for altcoins and Bitcoin if bull volume fails to sustain.

Bitcoin price is oversold, meaning a relief rally could trigger a short-term bounce in $LUNA, $ATOM, FTM and LEO, but generally the overall trend remains bearish.

BTC is oversold and possibly ready for a relief bounce, but this could be a trap for altcoins and Bitcoin if bull volume fails to sustain.

announced a purchase of 410 Bitcoin at an average price of roughly $36,585 per coin.Microstrategy down 32% year-to-date; GBTC, ARKK plunge 55% Peter Schiff also gloated over the losses suffered by the share price of , Grayscale Bitcoin Trust (GBTC) and Cathie Wood’s Ark Invest (ARKK) that also offers its client an exposure to BTC..1 hour ago El Salvador Buys 410 Bitcoins as BTC Plunges to Lowest Level in Months El Salvador bought the dip as the price of bitcoin plunged to a record low.

Could Bitcoin and altcoins witness a bounce after the recent carnage? Let’s study the charts of the top-5 cryptocurrencies that may outperform if a relief rally starts.BTC/USDT Bitcoin plunged below the $39,600 to $37,332.Besides, it is zone on Jan.21, indicating panic selling.Schiff reminded his followers that although Michael Saylor’s (head of the company) bet on Bitcoin did bring MicroStrategy a 150 percent gain during Jan and Feb 2021, since that time this has turned into a 3.The selling continued on Jan.” In the same tweet, Bukele also stated that he did not miss the dip after all.

22 and the price dipped to $34,008.Today, MSTR dropped 14 percent.BTC/USDT daily chart.Source: TradingView The sharp fall of the past few days has pulled the relative strength index (RSI) near the 20 level, suggesting that the selling may have been overdone in the short term.Image via On January 21, Bitcoin broke below the $40,000 level, then followed a drop to $38,000.Usually, such oversold levels are followed by a consolidation or relief rally.Recovery attempts are likely to face strong resistance in the overhead zone.El Salvador buys another Bitcoin dip According to the tweet of Chinese crypto journalist and blogger Colin Wu, President of El Salvador, Nayib Bukele, has bought 410 Bitcoins worth $15,000,000 on the current dip at an average price of $36,500 per coin..

If the $37,332 to $39,600 zone flips into resistance, it will signal that the sentiment remains negative and traders are selling on rallies.The bears will then attempt to resume the downtrend and sink the BTC/USDT pair to the major support at $30,000.Each bitcoin is about $36,500.A break and close above the 20-day exponential moving average ($41,427) will be the first indication that bears may be losing their grip.BTC/USDT 4-hour chart.Source: TradingView The 4-hour chart shows that the pair is trading inside a descending channel pattern.

The bears pulled the price below the channel but have not been able to sustain the lower levels.This suggests strong buying by the bulls who have pushed the price back into the channel.The pair could rise to the 20-EMA where the bears may again pose a stiff challenge.If the price turns down from this resistance and plummets below $34,008, the selling could intensify.Conversely, a break above the 20-EMA could open the doors for a possible rise to the resistance line of the channel.

LUNA/USDT LUNA token has been trading inside a descending channel for the past few days.The price dropped to the support line of the channel on Jan.22 but the bulls purchased this dip aggressively as seen from the long tail on the day’s candlestick.LUNA/USDT daily chart.Source: TradingView The LUNA/USDT pair could attempt a pullback to the moving averages and then to the downtrend line of the channel.

If bulls propel the price above the channel, the pair could rise toward $87.90 and later to $93.81.Contrary to this assumption, if the price turns down from the current level or the moving averages, it will suggest that bears are selling on every minor rally.The pair could then retest the support line of the channel.

A break below this support could accelerate the selling.LUNA/USDT 4-hour chart.Source: TradingView The 4-hour chart shows that the relief rally has reached the 20-EMA which is an important level to watch out for.The marginally downsloping 20-EMA and RSI just below the midpoint indicate a minor advantage to bears.If bulls drive the price above the 20-EMA, the pair could attempt a rally toward the downtrend line of the channel.

Alternatively, if the price turns down from the current level, the bears will fancy their chances and strive to pull the pair to the support line of the channel.ATOM/USDT.

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It’s over people , if you have any btc sell now even at a loss before it goes to zero , Butcoin and the rest of the shitcoins going on the express elevator to hell Great Rissing again $ADADOWN ⚡⚡🚀🚀🚀 just keep calm as long as BTC down drop.. Grab it 🌈🌈🚀🚀🚀 CardanoCommunity CardanoADA adadown CryptoNews bitcoinnews

I believe this is not the bottom will go down a little more...for now I'm waiting a little more patiently... I don't panic, I just keep buying the coins I need at a good price. Panic is only spreading between newbies and weak people. We saw crashes like this many times. Using $ALTB, users can purchase the latest cryptocurrency offerings completely hassle-free, with no worries about slippage errors. AltbaseApp BSC BSCGems altcoins

I've never seen someone as perfect as marcusjailson1 his knows how to analyse trade, and with his strategies she earned me so much profit. I made $15,000 in 10 days of working with him marcusjailson1 Whats going on bitcoin ? Why not stop selling pressure. I don't have money thats why i can't buy btc in this deep . Please buy more bitcoin and save us from loss elonmusk Michaelsaylor cz_binance NayibBukele BarrySilbert tyler Cameron MichaelNovogratz BrianArmstrong

Sh*t coins on a rally, guess that confirms the bear market? Panic? Cointelegraph are you drunk? The longer you are in crypto the bigger the swings. It starts with hundred then thousands, tens of thousands, hundreds of thousands than millions. If you believe and know what you own don't sweat the swings. Buy the dip, only invest what you are willing to lose.

Bitcoin Slumps to $35,600; Peter Schiff Expects Flash Crash Once BTC Breaks Below $30,000ICYMI: according to Peter Schiff's prediction, once $BTC breaks below $30,000, it will face a flash crash Bitcoin BTC BTCprice 666 666

Them Bulls will be selling shortly with a greater loss.

BTC price falls to $34K as Bitcoin RSI reaches most 'oversold' since March 2020 crash⬆ +11 BTC price falls to $34K as Bitcoin RSI reaches most 'oversold' since March 2020 crash $BTC bitcoin XBT

El Salvador Buys 410 Bitcoins as BTC Plunges to Lowest Level in Months – Featured Bitcoin NewsEl Salvador has bought 410 more BTC for $15 million. 'Some guys are selling really cheap,' said President Bukele. bitcoin crypto cryptocurrency I owe you an apology to ever doubt your sincerity and professionalism. MarkBromfield00 was just like a dream to me when I received my first payment. After my second payment it became a reality now after several payments it has become a way of life Kishu 🚀

Bitcoin fundamentals diverge from BTC price dip as difficulty hits new all-time highDespite price volatility, the Bitcoin network is now stronger than ever. Difficulty is at a new all-time high as of Friday, underscoring miners’ faith in long-term profitability.

Bitcoin Price Slips Below $36K, BTC Dominance Increases, Billions Leave Crypto Economy – Markets and Prices Bitcoin NewsThe price of bitcoin tapped a new low this year hitting $34K per unit at just after 5 a.m. (EST) on Saturday morning. The question everyone is asking is when will the cryptocrash end? Bismillahirohmanirohim Come on, my lord who has a lot of money visit because there are many unique collections and prices are all under 0.01 ETH. thank you DeFi 2.0 winter is coming soon - i think TangoKey will just fly to the moon! Pay attention to the project, peeps! Will not end

BTC, DOGE and SHIB Price Analysis for January 23Can the meme coins rise against the fall of BTC? Dogecoin dogecoin jasdoge DogecoinMemes RacerDoge dogecoin DogecoinMemes RacerDoge Possibly. With more big institutions getting into the $BTC game it's getting even more volatile now. Even the whales are afraid that somehow a good number of them withdraw at the same time all hell will break loose down to 10k-20k. Then it's altcoins' time. Don’t believe bitcoin cAres🤷‍♂️ I believe the market is moving in the direction of Nasdaq