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  • Cryptocurrency sentiment is still looking poor in the new year.
  • BTC/USD is trading 1.18% lower and is under both major EMA’s.

BTC/USD Daily Chart

The BTC/USD chart is still in the downward sloping channel on the daily chart below.

The price is still under the daily 55 and 200 EMA’s.

6,430 is still the support level to beat for the bears.

Only a convincing close above 8K would change the trend as it would make a higher high higher low wave.

Volumes have also been very low as we are suffering a hangover from the holiday period.

Bitcoin Market Analysis

Additional Levels