Bitcoin (BTC) Price Analysis – January 14

  • The BTC price is in a bearish trend zone in the short and medium term frame.
  • Bitcoin price will find support at the previous low of $3, 200, if the crypto 's price falls and breaks the $3,500 price level.

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

BTCUSD Medium-term Trend: Bearish

  • Resistance levels: $7,000, $7,200, $7,400
  • Support levels: $3,500, $3,300, $3,100 

Last week, January 6, the bulls took the BTC price to the high of $4,218 but could not break the resistance at $4,200 which led to a price retracement. On January 10, the bears broke the 12-day EMA, the 26-day EMA and the price fell to the low of $3,712.80. The crypto's price is now below the EMAs which indicates that Bitcoin is likely to fall.

The crypto's price made another bearish movement and fell to the low of $3,591 . Nevertheless, the BTC price is now trading at the $3,600 price level, if the crypto 's price falls and breaks the $3,500 price level, the Bitcoin price will find support at the previous low of $3, 200 which was the December 14 low.

Meanwhile, the stochastic is in the oversold region but below the 20% range. This indicates that the BTC price is in a strong bearish momentum and a sell signal.

BTC/USD Short-term Trend: Bearish

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

On the 4-hour chart, the price of Bitcoin is in a bearish trend zone. On January 10, the bears broke the 12-day EMA and the 26-day EMA and the price fell to the low of $3,730.20. The crypto's price began a range bound movement at the $3,700 price level and was resisted by the 12-day EMA and price fell to the $3,583.10 price level.

Again. the crypto's price is making another bullish movement to the 12-day EMA and if resisted, then we may talk about the crypto's price reaching the previous low of $3,200 price level. Although, the stochastic is above the 20% region which indicates that the BTC price is in a bullish momentum and a buy signal.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.   

Winklevoss Twins: Wall Street Has Been “Asleep at the Wheel” Regarding Bitcoin

Michael LaVere
  • Winklevoss Twins say Wall Street has been "asleep at the wheel" in acting on bitcoin.
  • Retail investors hold an advantage over institutions in the crypto marketplace. 

Cameron and Tyler Winklevoss, who founded the cryptocurrency exchange Gemini, said that Wall Street has been “asleep at the wheel,” in regards to bitcoin in their most recent interview. 

Sleeping on Bitcoin

Speaking with CNN Business on Aug. 22, the Winklevoss Twins explained the value of bitcoin as an investment, while giving their opinion on the risks of the cryptocurrency industry in comparison to the traditional financial sector. 

They were also critical of the established market’s slow acceptance of bitcoin and cryptoassets, claiming that Wall Street has fallen behind in that regard. Tyler Winklevoss argued that retail investors have had the edge of institutions in the market of crypto through their willingness to explore the new asset class. 

He continued, 

“Unlike the internet, which you couldn’t buy a piece of, you can actually buy a piece of this new internet of money. It’s still a retail-driven market, from day one [...] and a lot of people have done really well. Wall Street has been asleep at the wheel.”

In addition, the twins claimed not to be deterred by the high price volatility of bitcoin, and said the risk of missing out was much more compelling, 

“We had to invest because we were afraid of missing out, we couldn't miss out on this future.”

The twins also compared bitcoin to gold, which is becoming a more common financial analogy as investors and analysts view BTC as a digital store of value.