Bitcoin's market authorization has been holding above 65% mark since late July of this twelvemonth. This shows that Bitcoin continues to garner the maximum interest from the marketplace participants. There were periods in the past few months when it looked like an "altseason" was around the corner but information technology never materialized.

Most major cryptocurrencies — led by Bitcoin — topped out in June of this year and have been gradually moving lower since. At the end of the year, in the absence of any major trigger, fresh money is unlikely to enter the space. Most institutional players adopt to park their money in the asset grade that is in an uptrend instead of holding on to the losers.

Daily cryptocurrency market performance

Daily cryptocurrency market performance. Source: Coin360

Notwithstanding, things might change in the new year as institutional investors classify fresh majuscule to exist invested in diverse asset classes.

During that flow, they are probable to look for assets that bear witness value. Historically, halving has been bullish for Bitcoin. Hence, nosotros conceptualize money to flow into this infinite early next year to benefit from the upcoming halving that is nigh 150 days away in May.

Then, should the retail traders invest at the current levels or wait for a bottom to be confirmed before ownership? Let'due south written report the charts and find levels that volition signal a likely change in the trend.

BTC/USD

The bulls are struggling to proceed Bitcoin (BTC) above the $vii,085.80 support. This is a bearish sign every bit information technology shows a lack of buyers at current levels. Both moving averages are sloping down and the RSI is in the negative zone, which suggests that bears accept the upper manus.

BTC USD daily chart

BTC USD daily nautical chart. Source: Tradingview

If the bears sink the price below $vii,000, the possibility of a refuse to the critical support at $6,512.01 increases. A break beneath this support will be a huge negative as information technology volition resume the downtrend.

However, if the bulls defend the back up at $6,512.01, the BTC/USD pair might remain range-bound between $6,512.01 to $seven,856.76 for a few more days. A break in a higher place $7,856.76 will exist the starting time sign that need is picking upwards.

Nosotros anticipate a new uptrend to start on a break higher up the downtrend line of the wedge. Therefore, traders can initiate long positions equally suggested in our earlier analysis.

ETH/USD

The bulls could non capitalize on the recovery from the lows on Dec. 12, which is a negative sign. It shows a lack of buyers at higher levels. The bears accept in one case again broken beneath the support at $143.259 and Ether (ETH) is probable to dip to the next support at $131.484.

ETH USD daily chart

ETH USD daily nautical chart. Source: Tradingview

The downsloping moving averages and the RSI shut to the oversold zone testify that bears have the upper hand. A interruption beneath $131.484 will be a huge negative equally it volition resume the downtrend.

Conversely, if the ETH/USD pair turns effectually from the current levels or from $131.484 and rises higher up the $157.50, it will indicate forcefulness. Until then, nosotros suggest traders remain on the sidelines.

XRP/USD

The failure of the bulls to propel the toll in a higher place $0.22 on Dec. 14 attracted sellers. XRP has resumed its downward move to the next support at $0.20041. Both moving averages are sloping down and the RSI is close to the oversold zone, which suggests bears take the advantage.

XRP USD daily chart

XRP USD daily nautical chart. Source: Tradingview

If the bears sink the price below $0.20041, the downtrend will resume. The next support on the downside is $0.eighteen.

Our bearish view will be negated if the XRP/USD pair bounces off $0.20041 and rises above the 20-day EMA. This will indicate value buying at lower levels. Nosotros will plow positive on a pause in a higher place $0.2326.

BCH/USD

Bitcoin Cash (BCH) turned down from just under the 20-day EMA on December. 14. The bulls are one time over again attempting to defend the support at $203.36. Even so, retests of the support level are weakening it. Therefore, we anticipate a move down to $192.52.

BCH USD daily chart

BCH USD daily nautical chart. Source: Tradingview

If the bears sink the price below $192.52, the downtrend volition resume. The next support on the downside is much lower at $166.98.

However, if the bulls defend the support at $192.52, the BCH/USD pair might remain range-bound between $192.52 and $227.01 for a few more days. We volition turn positive on a breakout of $227.01. Until then, nosotros remain neutral on the pair.

LTC/USD

Litecoin (LTC) turned down from the downtrend line on Dec. 14 and again dipped to the support at $42.0599. The bears volition now endeavour to sink the price below this level. If successful, the downtrend volition resume. The adjacent back up on the downside is $36.

LTC USD daily chart

LTC USD daily chart. Source: Tradingview

A bullish divergence is forming on the RSI but it can be considered as a valid buy indicate simply after the price starts to motion upward.

If the LTC/USD pair bounces off the current level and rises higher up the 20-24-hour interval EMA, it tin can motion up to $50. A breakout of $fifty volition signal a likely lesser and can offer a ownership opportunity.

EOS/USD

The recovery in a higher place $2.5804 on Dec. 13 was short-lived. The price one time over again turned down below $2.5804 on Dec. xiv. This shows that the sentiment is to sell the minor rallies. EOS tin can now drop to the next back up at $2.4001.

EOS USD daily chart

EOS USD daily chart. Source: Tradingview

A bounce off $ii.4001 can carry the price to $2.5804. Higher up this, a movement to $ii.8695 is possible. We will spotter the price activity at $ii.4001 earlier recommending a long position in it.

If the bears sink the EOS/USD pair below $2.4001, the downtrend will resume. The next support on the downside is $2.2 and beneath it $1.55.

BNB/USD

Binance Money (BNB) has broken below the support at $14.2555. At that place is pocket-sized support at $13.88 from where the price had bounced on Nov. 25. But if this level besides cracks, a decline to $11.30 could occur.

BNB USD daily chart

BNB USD daily chart. Source: Tradingview

The downsloping moving averages and the RSI close to oversold territory indicate that bears take the upper hand.

Our bearish view will be invalidated if the BNB/USD pair rebounds off the current level and rallies above $sixteen.50. Such a motion volition signal accumulation on dips and might offer a ownership opportunity. The traders tin can initiate long positions above $16.50, as suggested in our earlier analysis.

BSV/USD

Bitcoin SV (BSV) has been trading close to $92.693 for the past iv days. This shows a lack of urgency amid the bulls to purchase at these levels. With no buying support, the bears will effort to sink the toll to $78.506.

BSV USD daily chart

BSV USD daily chart. Source: Tradingview

Contrary to our supposition, if the toll rebounds off the current levels and breaks out of the 20-mean solar day EMA, a move to $113.96 is possible. This is an important level to watch out for because if the bulls can scale to a higher place it, a rally to $155.38 is likely.

However, if the  BSV/USD pair turns down from $113.96, information technology might remain range-bound for a few days. We will look for the buyers to affirm their supremacy before recommending to trade the pair.

XTZ/USD

Tezos (XTZ) turned down from but above $i.65 level on Dec. thirteen. But the positive thing is that the bulls did non look for the price to dip to the 20-24-hour interval EMA to buy. This shows that every small-scale dip is being purchased. The bulls will over again try to calibration higher up $1.65.

XTZ USD daily chart

XTZ USD daily chart. Source: Tradingview

If successful, a rally to $1.85 is possible where nosotros anticipate the bulls to again face stiff resistance. The XTZ/USD pair will pick up momentum on a close (UTC time) in a higher place $one.85.

While about of the indications on the chart are positive, the developing negative departure on the RSI warrants caution. If the bulls again fail to propel the price to a higher place $1.65, the possibility of a drop to the 20-day EMA and below information technology to the 50-24-hour interval SMA increment. We remain positive just will look for a reliable buy setup to form before suggesting a trade in information technology.

XLM/USD

Stellar (XLM) has broken below the critical support at $0.051014. Moreover, the bulls could not even manage a small-scale bounce off this level, which shows a lack of need even at these levels. Both moving averages are sloping downwardly and the RSI is in oversold territory, which shows that bears are in command.

XLM USD daily chart

XLM USD daily chart. Source: Tradingview

Unless the price turns effectually from the current levels and sustains in a higher place $0.051014, the downtrend volition continue. The side by side back up on the downside is $0.041748.

Conversely, if the XLM/USD pair reverses direction and breaks out of the 20-solar day EMA, it will be a sign of forcefulness. Nevertheless, as the pair has made a new yearly low, we withdraw our earlier buy recommendation. We would now expect for a reversal pattern to form before considering it a buy.

The views and opinions expressed here are solely those of the author and practice not necessarily reflect the views of Cointelegraph. Every investment and trading move involves adventure. You should deport your own enquiry when making a determination.

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