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BTC, DOGE and SHIB Price Analysis for January 11

Price Predictions
Tue, 01/11/2022 - 15:58
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Denys Serhiichuk
Which coins have found their local bottoms?
BTC, DOGE and SHIB Price Analysis for January 11
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls might have seized the initiative on the market as all coins from the top 10 list are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, sellers managed to form a bearish impulse and test the psychological level of $40,000. The January low is set around $39,560.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Buyers reacted with large buying volumes, and the BTC price recovered to the two-hour EMA55 area. Today, this moving average is right at $42,447. If the bulls lose momentum and cannot continue the recovery, then the market has not yet bottomed out.

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BTC, XRP, AVAX and DOT Price Analysis for January 9

A break above the $42,447 level can serve as the first signal of a reversal of the market.

Bitcoin is trading at $41,933 at press time.

DOGE/USD

DOGE is the biggest gainer from the list today, rocketing by 5.35%.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

DOGE made a false breakout of the $0.16 zone today. At the moment, neither bulls nor bears are dominating the market. If the daily candle fixes at least above $0.15, buyers will have the chance to gain power and seize the initiative. In the other scenario, a fall below $0.1310 might confirm ongoing bearish pressure.

DOGE is trading at $0.1506 at press time.

SHIB/USD

SHIB has followed DOGE, rising by 3.92% since yesterday.

SHIB/USD chart by Trading View
SHIB/USD chart by Trading View

Despite today's rise, the price is trading below the zone of the most liquidity at $0.00002903.

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BTC, ETH, BNB, ADA and LINK Price Analysis for January 8

If buyers get back in the game and restore the rise, the fall may continue to the nearest support level at $0.00002010 per SHIB.

SHIB is trading at $0.00002719 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.