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BTC & XRP – Prices Continue to Rise – Analytics & Forecasts – January 20, 2021

BTC & XRP – Prices Continue to Rise – Analytics & Forecasts – January 20, 2021


BTC / USD

Bitcoin price has moved sideways since last week when it rallied to $ 40,000 but then fell to $ 33,813 at its lowest point yesterday. This happened after the recovery and we are now seeing another minor recovery, with the price hitting $ 37,486. Bitcoin is currently trading slightly lower but is still in an upward trajectory.

The 4 hours chart shows that the price dropped slightly below the 0.382 Fibonacci level at the Sunday low, but managed to pull back above it. This may indicate that support has been found, but it remains to be seen if it will manage to exceed the local high at 0.618 Fibonacci.

The main one is the scenario in which there is a higher level ABC correction, and so far it has been. The fall below the 0.5 Fibonacci level confirmed the previously anticipated ABC upward movement, which is wave B, the higher level of the report.

Therefore, a possible continuation of the downward movement was expected from here, but it may not happen as expected. Wave C, which was projected as a downtrend, should have developed a 5-wave impulse, but instead made a 3-wave decline followed by a retracement.

Now, if the price continues to rise, this count may be invalidated, but it would potentially still be part of a corrective count set to push the price lower …. About prospects XRP / USD read on our blog

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