Morgan Creek Capital CEO Mark Yusko believes that Bitcoin should be a part of every investment portfolio. The performance analysis of the past 5 years shows that even portfolios that only held 1% of their total investments in Bitcoin managed to outperform their competitors. Bitcoin offers a 10-to-one downside capture, which makes it one of the most asymmetric assets that Yusko has ever seen.

The growing popularity of crypto derivatives indicates institutional players are gradually inbound the infinite. The Chicago Mercantile Exchange group Managing Director and Global Head of Disinterestedness Alphabetize Alternative Investment Products, Tim McCourt, said: "CME Bitcoin futures accept surpassed $100 billion in total notional value traded since their launch in December 2022."

 Daily cryptocurrency market operation. Source: Coin360

Bank of Japan deputy governor Masayoshi Amamiya said in a seminar that the cardinal banking concern should exist ready to upshot a fundamental bank digital currency if the public demand for it increases. This shows that several major economies are exploring the possibility of launching a CBDC.

Equally Jan comes to an end, multiple cryptocurrencies have risen sharply but tin can the bulls sustain the momentum? Permit'south study the charts.

BTC/USD

Bitcoin (BTC) has turned downwardly from the minor resistance at $ix,600. However, with the 20-24-hour interval EMA sloping up and the RSI in positive zone, the advantage is with the bulls. Nosotros anticipate the bulls to defend the dip to the xx-24-hour interval EMA at $eight,736, which is just below the 200-day SMA at $8,881.

BTC USD daily nautical chart. Source: Tradingview

If the toll rebounds off the 20-day EMA, the bulls will again attempt to clear the overhead resistance at $nine,600. If successful, the BTC/USD pair is likely to motility up to $x,360.89.

Contrary to our assumption, if the bears sink the price below the 20-day EMA, the pair will weaken and can collapse to $8,240.67. The pair will plough negative if the price drops below the critical support at $vii,856.76. The traders can trail the stops on their long positions to $viii,200, which tin be tightened further if the price dips below the xx-day EMA.

ETH/USD

Ether (ETH) surged to a higher place the $173.841 to $180 resistance zone on January. 30 but the bulls have not been able to build on the strong up move. The toll has reversed direction from $186.969.

ETH USD daily nautical chart. Source: Tradingview

There is a potent back up at $173.841, which is just below the 200-day SMA at $175. If this support breaks, we look the bulls to defend the 20-day EMA at $166. If the price bounces off either of these support levels, the bulls will make another endeavor to motility upwards to $197.75.

Reverse to our assumption, if the bears sink the price beneath the 20-day EMA, the next support to spotter out for is the $157.50 to $150 zone. A pause below this zone will be a huge negative. The traders can trail the stops on the long positions to $160.

XRP/USD

The bulls are struggling to sustain XRP above $0.2326. This is a negative sign equally it shows a lack of buyers at higher levels. There are several supports between $0.2326 and the neckline of the inverted caput and shoulders pattern. We conceptualize the bulls to defend this support zone aggressively.

XRP USD daily chart. Source: Tradingview

If the price rebounds off the support zone, the bulls will make another attempt to scale higher up the resistance at $0.25401. If successful, a motion to $0.31503 is possible.

Contrary to our supposition, if the XRP/USD pair breaks below the neckline, a drop to $0.20041 is possible. As the pair is struggling to move upwards, nosotros suggest traders reduce their chance by trailing the stops on the long positions to $0.21.

BCH/USD

Bitcoin Cash (BCH) came very close to the overhead resistance at $403.88 on January. thirty. However, the bulls have non been able to scale above this level and the price has once once more turned down from it.

BCH USD daily chart. Source: Tradingview

At that place is a strong support at $360 but if the bears sink the price below this support, a drop to the 20-solar day EMA at $335 is likely. We look the bulls to defend the 20-day EMA aggressively. If the price rebounds off $360 or the 20-twenty-four hour period EMA, it will increase the possibility of a breakout of $403.88.

Conversely, if the bears sink the price below the twenty-24-hour interval EMA, a driblet to $306.78 is possible. If this support holds, the BCH/USD pair might consolidate for a few days. The pair will plow negative on a break below $296.xiii. The developing negative divergence on the RSI warrants caution.

BSV/USD

Bitcoin SV (BSV) is currently at the support line of the symmetrical triangle. If the bears sink and sustain the price beneath the triangle, information technology will be a huge negative. This pattern has a target objective of $159.52 on the downside.

BSV USD daily nautical chart. Source: Tradingview

However, we conceptualize the bulls to attempt to stall the decline at $236. If successful, the BSV/USD pair volition proceed to consolidate between $337.eight and $236 for a few more days. The pair will turn positive in a higher place $337.fourscore.

LTC/USD

Litecoin (LTC) broke in a higher place the overhead resistance at $66.1486 on Jan. xxx, which completed a loving cup and handle pattern. This bullish setup has a target objective of $96.439. The 20-day EMA is sloping up and the RSI is in the overbought zone, which suggests that bulls take the upper hand.

LTC USD daily chart. Source: Tradingview

Currently, the bears are attempting to sink the price back below $66.1486. If successful, the toll can dip to the 200-day SMA at $61.73 and below it to the 20-twenty-four hour period EMA at $57.fifty. If the toll rebounds off the twenty-day EMA, the bulls will in one case once more attempt to push the LTC/USD pair above $70.50.

However, if the toll breaks below the twenty-twenty-four hours EMA, a drib to $fifty is possible. If the toll sustains beneath $66.1486, information technology volition invalidate the bullish setup. Therefore, we will wait and scout for a couple of days earlier suggesting a trade in it.

EOS/USD

EOS bankrupt to a higher place the overhead resistance of $4.24 on Jan. thirty, which was a huge positive. However, the bulls could not sustain the breakout and the cost has again dipped dorsum below $four.24. This suggests profit booking at higher levels.

EOS USD daily chart. Source: Tradingview

The EOS/USD pair can now dip to the 20-day EMA at $3.68, which is likely to human action as a potent support. If the price rebounds off the 20-day EMA, the bulls will one time once more attempt to propel the pair in a higher place $iv.24.

All the same, nosotros spot a developing negative divergence on the RSI, which is a bearish sign. If the bears sink the price below the twenty-day EMA, a drop to the 200-day SMA at $3.three is possible.

BNB/USD

The bulls managed to button Binance Coin (BNB) to a higher place the overhead resistance at $18.50 on Jan. 30 and 31 but they take not been able to hold on to the breakout.  This shows a lack of buyers at higher levels.

BNB USD daily nautical chart. Source: Tradingview

If the price sustains below $18.50, the BNB/USD pair will remain range-bound for a few more days. The pair will plow negative on a interruption below $xvi.50.

However, if the price rebounds off the 20-day EMA and breaks out of $18.50, a movement to the 200-day SMA at $18.79 and above it to $21.8 is possible. For now, the stops on the long positions tin be retained at $15.90.

ADA/USD

The bulls are struggling to calibration above the overhead resistance at $0.0560221. This shows a lack of buyers at college levels. Cardano (ADA) can now dip to the next back up at $0.0461161. The 20-twenty-four hours EMA is also placed close to this level, hence, we wait the bulls to defend it aggressively.

ADA USD daily chart. Source: Tradingview

If the price bounces off $0.0461161, the bulls will again attempt to push button the price higher up $0.0560221. If successful, a rally to $0.0652290 is likely.

As the ADA/USD pair has not been able to break above $0.0560221, partial profits can be booked at the current levels, if non done already, every bit suggested in our previous analysis. The stops on the remaining long positions can exist kept at breakeven.

ETC/USD

Ethereum Classic (ETC) has turned downwards from $12.87278. The altcoin can at present retest the breakout level of $10, equally suggested in our previous assay. If the price bounces off $10, it might offering a low-risk buying opportunity.

ETC USD daily chart. Source: Tradingview

Nonetheless, if the retest of $10 fails to agree, the pullback tin extend to the 20-day EMA at $9.15. We expect the bulls to defend the 20-day EMA aggressively. A bounciness off this level or from $10 volition increment the possibility of a move to $14.

Conversely, if the bears sink the price below the 20-day EMA, a drop to $7.7853 is possible. The developing negative divergence on the RSI is a bearish sign. Hence, traders should wait for the uptrend to resume before initiating long positions one time over again.

The views and opinions expressed hither are solely those of the author and practice non necessarily reverberate the views of Cointelegraph. Every investment and trading move involves gamble. Yous should conduct your own research when making a determination.

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