Bitcoin, Ethereum, Ripple Eye Higher Ground In The Wake Of 2019

Cryptocurrencies kick off 2019 with Ethereum extending its gains. The Constantinople upgrade for Ether has brought investors and speculators to piling into Vitalik’s Buterin’s brainchild. Other digital coins are also lifting their heads after a few down days.

More importantly for Bitcoin and the broader blockchain world, Bakkt managed to raise a whopping $182.5 million from Microsoft, Pantera Capital, BCG, and others. Bakkt completed this funding round to become a trusted broker or gateway for institutional traders looking to jump into digital currencies. The ICE project also aims to facilitate the usage of BTC in cross-border money transfers. After several delays, the fundraising promises a launch that will come soon enough. Project leader Kelly Loeffler sees an active year in cryptos.

Another mainstream development, a Bitcoin ETF, is still awaited and due by late February. The SEC is set to approve or disapprove the request by SolidX and Van Eck regarding such a financial instrument.

With this promising start to the year, what prices should we look at?

(Click on image to enlarge)

Bitcoin Ethereum Ripple Constantinople Bakkt January 2 2019

BTC/USD eyes $4,263

Bitcoin, the grandaddy of cryptocurrencies, is struggling in a range between $3,806 and $3,845. The area is a dense cluster of technical levels including the Simple Moving Average 10-15m, the Fibonacci 61.8% one-month, the Fibonacci 23.6% one-day, the Bollinger Band 15 minutes Upper, the SMA 10-1h, the SMA 10-1d, the BB 15min-Middle, the SMA 5-1h, the Fibonacci 38.2% one-week, the SMA 5-15m, the BB 1h-Middle, the BB 15min-Lower, the SMA 5-1d, the Fibonacci 38.2% 1d, and the SMA 50-15m.

If it breaks higher, the next level to watch is $4,363where we see the PP one-month Resistance 1, last month’s high, the PP 1w-R1, and the SMA 50-1d.

Looking down, $3,567 is significant support where we see the PP 1m-S1, the Fibonacci 38.2% one-month, and the PP 1d-S2.

ETH/USD has its eyes on $170 as a second target

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