December 29, 2021

​$BTC 24 Hour High $50,039
$BTC 24 Hour Low $47,388
$BTC -0.5% past 24 hours; -2.3% past 7 days

$BTC ran out of gas after flirting with $52K threshold

Good morning. The bullish push for $BTC towards $54K is on hold for now as the $52K resistance area is proven to be too strong to break through. The price moved rapidly lower towards the 200D MA at $47,660 while the leveraged longs took a beating, with the highest amount of longs liquidated in three weeks. The downside scenario we mentioned yesterday is currently playing out as $BTC trends towards the bottom of the trading range in place since December 4. A retest of $46,500 is likely to occur. Should it fail to hold, $45.5K will be the immediate support that has been held for almost four weeks. This area provides a potential buying opportunity for those looking to add to HODL positions.

$ETH did not escape the sudden pullback in prices, dropping rapidly to support level at the 0.5 Fibonacci retracement between the September-low and November-high ($3,760). As $ETH moved back to where it was a week ago, meaning the month-and-a-half long downward trend continues. However, we remain confident that the next few months will be bullish, and therefore any visits towards the area of $3,650 could serve as a buying opportunity for those who missed the chance earlier.

Learn more from today’s Trader View video.

More news that caught our eye:



OSL Trader View is contributed by Stefan von Haenisch & Ethan Fu.


OSL is Asia’s most comprehensive digital asset platform providing brokerage, exchange, software-as-a-service and insured custody solutions to professional investors.

Home to one of the world’s largest and most experienced digital asset trading desks, OSL has its finger on the pulse of the market. The Trader View newsletter is a short, easily digested summary of market activity and eye-catching news of the day.

Feedback is important to us, and we’re keen to learn more about the types of insights and intelligence that matter to you most. Please share your thoughts with us.

And be sure not to miss future OSL news and insights by following us on Twitter, Linkedin, Facebook, and Telegram.Please refer to OSL’s relevant disclaimers and disclosures associated with this note, including restrictions on redistribution.