Bitcoin, ETH and other crypto currencies technical view: 13th January 2021

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BITCOIN AND CRYPTO CURRENCY REPORT FOR 13TH JANUARY 2021
19:00 IST   SUPPORT RESISTANCE VIEW & TRADING CALL
  Current price S1 S2 R1 R2  
BTC/USD $35,366.00 $31,439.00 $33,124.00 $37,069.70 $39,482.40 Btc/usd needs to trade over $32432-$33124  zone to rise to $39482. It will crash only if it trades below $33124. 
ETH/USD $1,065.00 $968.10 $999.30 $1,098.80 $1,171.20 Eth/usd needs to trade over $968 till Sunday to rise to $1214 and $1276.here will be sell off only if eth/usd trades below $968.
BTC/SGD $45,770.60 $41,212.90 $43,479.80 $47,185.80 $48,769.00 Btc/sgd will crash only if it falls below $43004 till Friday.
             
BCH/USD $480.03 $413.00 $439.00 $521.10 $566.80 Bch/usd  needs to trade over $439.00 to rise to $566.00. Btc/usd will crash only if it falls below $439.00.
LTC/USD $168.65 $120.80 $144.70 $186.90 $205.10 Ltc/usd needs to trade over $135.60 to be in a short term bullish zone and rise to $186.30. It will crash only if it falls below $135.60.
             
BTC/INR ? 25,40,212 ? 22,58,986 ? 24,07,473 ? 26,72,950 ? 28,21,437 Btc/inr needs to trade over 23,79,190 to be in a short term bullish zone and to rise to 26,92, 950 and 29,67,854. There will be a sell off only if btc/inr falls below 23,79,190.
             
COMMENTARY
This years rise in the first seven days was fearful. Hence correction was supposed to happen. The correction in bitcoin and other crypto currencies is a healthy one. More correction will be be good. Pace of rise has to be smooth for bitcoin and other crypto currencies if it has to attract long term investors. Right now bitcoin and cryptos are a gambling den. Cryptos need to convert itself into a steady paced investment avenue if it wants investment from pension funds and other long term saving hedge fund.
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