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Title: Markets Update: Cryptocurrencies See Big Gains After New Year’s Day Post by: mayurobin on January 03, 2018, 08:24:52 PM Looking at the charts today for BTC/USD looks better than the days prior. The two Simple Moving Averages (SMA), both short and long-term, have converged early this morning. The 100 SMA is now above the longer term 200 SMA which means buyers could take the upside after breaking some more resistance. There is some stiff resistance above the $13,950-14,100 territory and another sizable wall around $14,500. If BTC prices can continue to climb above $15,500 some smoother seas may be in the cards. On the back side, there’s a strong foundation between $13,400-13,500. Further back, support begins to weaken again, but there are definitely pit stops in the $12,000-13,000 range. Both the RSI and Stochastic oscillators show the path to resistance is on the upside. For now, bulls seem to be applying pressure, volume is substantial, and bitcoin core markets look healthier after the week and a half worth of price dumps.
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