Analytics

News, Trends, & Analytics 25.12.2020

What to expect from Bitcoin during the holidays?

Today, the focus is on the Christmas lull on the exchanges, economic stimulus, and signs of a decline of the main cryptocurrency.

 

News

The US Senate may increase the amount of economic aid to citizens after Trump’s refusal to sign the bill. Affects USD


The Chinese authorities have launched an antitrust investigation against Alibaba. Affects Alibaba


The US federal agency FinCEN may be able to track large bitcoin transactions. Affects Bitcoin


Investors sold off the Ripple cryptocurrency after a lawsuit from the SEC. Affects Basic altcoin index

 

Technical Analysis

Bitcoin

The cryptocurrency has gained more than 200% this year and updated its all-time high. However, there is still no Bitcoin ETF. And the SEC continues to actively oppose new products. XRP has dropped in value by more than half on the news about a lawsuit filed against Ripple, which was quite telling.

The bitcoin chart has formed a “crystal”, which is a rather dangerous bearish pattern, and the Fibonacci levels suggest that the quotes may fall to 21,000, and then to 19,200.

ETH/BTC

The cryptocurrency pair found support around 0.02500, so the bulls can come out.

ETH/USD

The chart has formed a resemblance of a “triple top” pattern, which is a signal of the beginning of a bearish trend.

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