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Price analysis 1/4: BTC, ETH, XRP, LTC, DOT, BCH, ADA, BNB, LINK, BSV

Published 01/04/2021, 03:56 PM
Updated 01/04/2021, 05:40 PM
Price analysis 1/4: BTC, ETH, XRP, LTC, DOT, BCH, ADA, BNB, LINK, BSV
BTC/USDT
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BTC/USD
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BCH/USD
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Bitcoin (BTC) price plunged by about $3,400 in an hour, warning traders that corrections during a parabolic move are likely to be sharp. Data from Glassnode shows that the fall resulted in the liquidation of Bitcoin futures long positions worth about $190 million on Binance within an hour, the largest to date.

In a strong uptrend, corrections are swift but short-lived because investors who expect the rally to continue use the dips to buy.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
BCH/USD daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
LINK/USDT daily chart. Source: TradingView
BSV/USD daily chart. Source: TradingView

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