Bitcoin, Dogecoin & Cardano — Asian Wrap 19 December
Bitcoin (BTC) price results from a very violent week regarding economic data and central bank speakers. Even without those elements, BTC has no reason to rally substantially higher as the global market situation on its own is deteriorating quite rapidly.
Dogecoin (DOGE) price receives yet again a firm rejection, this time from a technical moving average. The rejection and fade to the downside is almost a play and repeat from last week when a similar event occurred against a monthly pivot level.
From a purely technical point of view, Cardano (ADA) price action is set to end the last two trading weeks of 2022 with massive losses. The several catalysts lined up this past week have not been attributing as expected and could see traders exit their positions for the last-minute Christmas rally.