P95G BTC Market Weekly Report — Week of 12/28/2020

BTC/USD hourly chart

The Bitcoin price had another strong rally after breaking above the US$24,000 resistance as mentioned last week. It broke to a new high above $25,000 and reached $28,244 yesterday. The market saw profit taking actions by the momentum traders, and dipped to $25,813 at one point, which is near the lower Keltner band.

Based on the most recent movement, the resistance is at $28,000, while the support is at $26,000. The institutions may continue to accumulate Bitcoin as their funds receive new subscriptions from their investors. The market may test a new high above $28,000 if the buying force can overcome the sellers who previously thought that BTC was overpriced.

Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice.

P95G:The management team consists of seasoned professionals who worked in the brokerage service industry, with a background ranging from equity and derivative trading to operations, asset management, and information technology. P95G provides services to financial institutions and individual investors in buying and selling cryptocurrencies, fiat currency (US dollar) and cryptocurrency transfers, and OTC (over-the-counter) trading in large amounts.

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Point95 Global

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World’s Leading Digital Asset Management Company

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