Really this new week we are being surprised with the latest events within the cryptocurrency market. Mainly with the recovery of more than 2% of the total capital of the market, compared to last week.

We are also very happy for the latest results that we are delivering to both our premium members and the community in general. If we are not wrong, we already recover one of our losses and now we are making great profits.

Therefore, and from the following lines, we want to present you the cryptocurrency market review and the weekly and complete technical analysis of Bitcoin so that you do not get confused with the real feeling that is really breathing right now in the market.

Soldiers Are Winning The Battle

Basically studying the behavior of Bitcoin in hourly chart (4H) we understand that the EMA100 behaves as a strong support for all the soldiers is currently winning the battle.

The price at approximately between $8787 and $8933, when this article was written, broke all the resistances and now one of the Bollinger Bands resistors is being tested as shown in the following graph.

But the battle of the soldiers was most evident in the graphic time of 12 hours (12H) where after the Bitcoin perform the pattern of three white soldiers, he made the price advance confirmation with bullish sentiment in favor of the buyers.

They say that Sunday is the worst day to make investments, but for this market, the reality is really different. According to this we now kill ourselves in a line of resistance that possibly, and we hope, will be broken the next few days. That’s why you decide that this market does not rest.

Strong Descending Line

In the case of the daily chart, the price is behaving above most of all the most important EMAs in relation to support and resistance. He is currently being incubated by the EMA9 and the EMA21, a fact that made the market reaction to place a bullish feeling and a buying action that favored many.

However, and conducting a thorough detailed study, we note that Bitcoin is currently trying to break one of the main bass trend lines. If our Elliot B wave for the next few days continues we could be forming a double top in relation to the ABC correction pattern.

The price still behaves below the 63% region of the Fibonacci retraction line.

With the closing of the market past hours we have in the daily chart the pattern of the three white soldiers, which means that in the next days we can have a trend advance. This could invalidate the double top.

A Fact never To Forget

With the price of Bitcoin above the EMAs(9,21,50) a new high trend is confirmed that favors many buyers. Again the crocodile that is asleep is waking up and for this time, if the market sentiment remains the way it is we could be full look for $9575, where it would be a very strong resistance point, and also, where the 61% Fibonacci retraction line is brewing.

For this start of the week the price stay in one of the support lines made by the ichimoku cloud and a partial breakdown of the cloud accumulation is expected in the coming weeks. It is clear that this fact will be evident if the buying force remains as it is or increases. Anyway, we must be careful, because the next CME future contract expires exactly on January 31, and as we know, everything can happen until that date.

Market In Constant Recovery

At first glance we can differentiate a new phase of re-accumulation for the entire market. As we had said at the beginning of this technical article, the market from one week to another recovered more than 2% of the capital that had come out after the last price correction.

We have approximately $242 million dollars circulating in the market. With the dominance of Bitcoin falling around 67% and with the dominance of the altcoins the few increasing.

Speculative News

Among all the news, the one that is giving more to talk for this week, is the possibility of the Nasdaq open the futures market for the cryptocurrency market. Really if it happens (maybe), a large monetary flow could enter the market.

Anyway for us this news remains speculative as well as the great manipulation of the approval of the ETFs.

By the way, all in all, we have a neutral market sentiment, which will cause many investors to open their eyes and the whales to place the huge amounts of money that are missing to reach the next $ 300 billion of the total market capitalization.

See you in the next story! With love 💛 Rubika Ventures Team!

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With that, we just want to extend the invitation for us to build a new decade in this market with many successes and good profits.

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