Bitcoin, ETH and other crypto currencies technical view: 22nd January 2021

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BITCOIN AND CRYPTO CURRENCY REPORT FOR 22nd JANUARY 2021
11:20 IST   SUPPORT RESISTANCE VIEW & TRADING CALL
  Current price S1 S2 R1 R2  
BTC/USD $31,832.30 $27,722.36 $29,293.10 $34,371.40 $37,211.80 Short term support is at $28092. Btc/usd can rise to $37211 and $40009 as long as it trades over $28092. Quick crash or a short term bearish trend will be there if btc/usd trades below 50day MA of $28092.
ETH/USD $1,174.10 $1,012.80 $1,097.90 $1,250.30 $1,335.40 Eth/usd needs to trade over $1097 till Sunday to rise to $1334.40 and $1500. There will be a sell off only if eth/usd falls below $1097.
BTC/SGD $41,704.70 $36,595.50 $39,293.00 $44,116.30 $46,814.00 Short term support is at $37954. Btc/sgd can rise to $46814 and $51923 as long as it trades over $37954. Quick crash or a short term bearish trend will be there if btc/sgd trades below 50day MA of $37954.
             
BCH/USD $423.60 $363.30 $395.20 $452.10 $484.00 Short term support is at $374. bch/usd can rise to $484 and $515 as long as it trades over $374. Quick crash or a short term bearish trend will be there if bch/usd trades below 50day MA of $374.
LTC/USD $137.80 $113.80 $126.50 $156.10 $185.60 Short term support is at $117. Ltc/usd can rise to $185.60 as long as it trades over $117.60. Quick crash or a short term bearish trend will be there if ltc/usd trades below 50day MA of $117.
             
BTC/INR ? 23,25,994 ? 20,00,048 ? 21,72,147 ? 24,79,840 ? 26,51,940 Short term support is at Rs.20,61,591. btc/inr can rise to Rs.26,51940 and Rs 29,77.860. as long as it trades over $Rs.20,61,591. Quick crash or a short term bearish trend will be there if btc/inr trades below 50day MA of Rs.20,61,591. 
             
COMMENTARY
There will be casino type price moves in bitcoin and other crypto currencies. But medium term lows will only get higher with every big crash or every big correction (by whatever name you call it). Extreme, nerve wrecking volatilty will attract short term traders every person who cannot go to a casino due to covid pandemic. Bitcoin in the short term represents a global las vegas or a macau. Long term, btc and other cryto currencies are here to stay and continue to rise. Russia sberb bank wants to introduce its own crypto assets. Other banks worldwide will follow the same. Crytpo currency and crypto assets space will become extremly crowded in the next two years. Day traders, jobbers and very short term traders need to trade carefully. Do not get swayed by momentum and sentiment. If bitcoin and crypto currencies continue to fall till Sunday, then every one will use rise as an exit oppurtunity. Chances of a reemergence of a short term bearish phase will be high it bitcoin and crypto currencies continue to fall till Monday. 
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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