Technical analysis

Is this a signal for the crypto market to enter a new bull phase?

Julien Moretto – 15 Jan 2020

The cryptocurrency market shows a very optimistic scenario this week, especially on some altcoins. Bitcoin has gained 7% over the last seven daysm trading around €7,900 ($8,800) and breaking through a key resistance. Altcoins offer more impressive gains over the week. If Ethereum gains +15%, other assets literally explode: Bitcoin Cash with +41%, Litecoin with +26% but especially Dash with +125% and the controversial Bitcoin SV (BSV) with +233%! If the frenzy seems to be back on the altcoins, Bitcoin still has to break an important resistance at €8,400 ($9,200) which will be a long term reversal signal. Here is our market analysis.

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