Bitcoin, ETH and other crypto currencies technical view: 6th January 2021

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3 weeks ago
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BITCOIN AND CRYPTO CURRENCY REPORT FOR 6TH JANUARY 2021
12:42 IST   SUPPORT RESISTANCE VIEW & TRADING CALL
  Current price S1 S2 R1 R2  
BTC/USD $34,881.00 $32,016.50 $33,574.00 $36,361.10 $39,454.00 Btc can rise to $36361 and $39454 as long as it trades over $33574. There will be sell off only if btc/usd falls below $33574.
ETH/USD $1,114.60 $932.70 $1,022.60 $1,183.80 $1,273.10 Eth/usd needs to trade over $1022 to rise to $1443.60 in the short term. There will be sell off only if eth/usd trades below $1022.
BTC/SGD $46,336.30 $42,958.50 $44,742.00 $47,930.10 $49,713.20 Btc/sgd faces psychological resistance at $50,000. Only a break of $50,000 will trigger a move to $53090. Sellers will be there below $44742.
             
BCH/USD $426.20 $387.40 $410.70 $443.90 $462.80 Bch/usd can rise to $462.80 and $496.00 as long as it trades over $387.10.
LTC/USD $162.96 $119.80 $141.60 $180.70 $202.50 Ltc/usd will see a quick rise if it manages to trade over $170 to $186 and $202.00. There will be sell off only on a fall below $136.00.
             
BTC/INR ? 25,60,439 ? 23,38,156 ? 24,48,061 ? 26,44,556 ? 27,54,461 Btc/inr needs to trade over 23,50,000-24,00,000 zone to rise to 27,54,461 and 29,62,841. There will be a sell off only if btc/inr falls below 23,50,000.
             
COMMENTARY
Crypto currencies is a case of too much money chasing too few goods. There is a shortage. Hyper bullish price prediction by lege hedge funds and very positive media coverage has resulted in sharp increase in trading volumes in 2021. Everything is bullish. Volatilty will be still high. Jobbers need to be careful. Investors need not worry.
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Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals, crypto currencies and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Chintan Karnani Website www.insigniaconsultants.in Customer care: 91-11-9311139549