Bitcoin BTCUSD The stock is down about 8% for the week, but the silver lining is that bulls have aggressively bought the weekly lows. Even after the economy recovers, analysts are divided on the next direction. Some expect the correction to deepen further, while others expect the uptrend to resume.
Bitcoin's rally on December 20th failed to attract investors to the US spot Bitcoin exchange-traded fund. According to data from Pharside Investors, the ETF lost $617.9 million on Dec. 19 and $277 million on Dec. 20, suggesting profit-taking by traders. There is.
The next few days are likely to see a tough battle between bulls and bears around the $100,000 level. If Bitcoin remains above $100,000, sentiment in the crypto market will improve and some altcoins are expected to rise.
On the other hand, if Bitcoin fails to rise and stay above $100,000, short-term buyers may be tempted to lock in profits. If that happens, a major correction in Bitcoin could begin, causing a decline in some altcoins.
Let's take a look at the chart of the top 5 cryptocurrencies that are likely to outperform in the short term.
Bitcoin price analysis
Bitcoin rebounded from the 50-day simple moving average ($92,901) on December 20, but the recovery is facing a sell-off at the 20-day exponential moving average ($98,758).
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BTCUSDT A consolidation between the moving averages is likely as both bulls and bears try to gain the upper hand. If the price breaks out above the 20-day EMA, it would suggest that the correction may be over. Thereafter, the pair is likely to retest the all-time high of $108,353. A close above this resistance could start the next leg of the uptrend at $113,331 and then reach $125,000.
Conversely, a close below the 50-day SMA could trigger a deeper correction towards $85,000. This is an important level for the bulls to defend, as a break below could lead to a fall to $73,777.
On the 4-hour chart, both moving averages are descending and the RSI is in negative territory, indicating that sellers have an advantage. A close below the $90,000 support could trigger a further correction towards $85,000.
The first sign of strength is a close above $100,000. The pair could rise to $105,000 and then $108,353. Sellers are expected to adhere to this standard to the best of their ability. Because if it fails, the currency pair could resume its uptrend.
Sui price analysis
Sui (SUI) broke below the 20-day EMA ($4.22) on December 19, but the bears failed to break out of the support at the 50-day SMA ($3.61) on December 20.
A strong rebound from the 50-day SMA suggests aggressive buying at lower levels. The bulls tried to resume the uptrend on December 21st, but the bears held back. A rising moving average indicates an advantage for buyers, while a negative divergence in the RSI suggests weakening momentum.
If the price rises from current levels, the bulls will try to resume the uptrend again. Above the $5 level, 
Sui USDT The pair could rise to $5.50 and then $6.50.
On the other hand, a break and close below the 20-day EMA suggests bulls are booking profits. If the 50-day SMA collapses, the selling may accelerate. The pair could fall to $3.
The moving average on the 4-hour chart is gradually descending, and the RSI is just below the midpoint, suggesting a possible range-bound move in the short term. If the price falls below $4.20, the pair could fall to $4 and then $3.50. Buyers are expected to aggressively defend the $3.50 level.
If buyers keep the price above the 50-SMA, the pair can rise to $5. This remains an important resistance level to watch as above this could send the pair up to $5.50.
Bitget token price analysis
Bigget Token (BGB) fell from $4.90 on December 19th and fell to near the 20-day EMA ($3.29) on December 20th, but the long tail of the candlestick on that day was at a lower level. This indicates solid buying.
After the volatility of the past few days, the BGB/USDT pair is likely to stabilize between $4.90 and the 20-day EMA for some time. If buyers raise the price above $4.90, the pair can rise to $5.38 and then $6.
On the downside, a break below $4.05 could cause the pair to drop to $3.83 and then to the 20-day EMA. Buyers are expected to protect the 20-day EMA, as a break below it would suggest that the pair has hit a short-term top.
The bulls are trying to push the price above the 20-EMA, which indicates demand at lower levels. This pair may reach the downtrend line, which could act as strong resistance. If the bulls break out of the downtrend line, the pair can rise to $4.90.
On the downside, the bears will need the price to fall and sustain below the 50-SMA to signal the start of a deeper pullback. The pair could fall to $3.38 and then $2.90.
Related: Bitcoin Social Sentiment Falls to Yearly Low, Signs of BTC Breakout
Ethena price analysis
Ethena (ENA) fell below the 20-day EMA ($1.00) on December 19, but bulls quickly brought it back down on December 20.
The 20-day EMA is sloping upwards and the RSI is just above the midpoint, indicating that buyers have a slight advantage. The bulls will try to push the price to $1.23 and then $1.33. Sellers are expected to defend this zone with all their might, but if the bulls have the upper hand, 
ENAUSDT The pair could rise to $1.52.
This positive view will be invalidated in the short-term if the price declines and breaks below the 20-day EMA. After that, the pair could fall to the 50-day SMA ($0.76).
Flattening moving averages and the RSI near the midpoint of the 4-hour chart suggest a balance between supply and demand. It is likely to fluctuate between $1.23 and $1 for a while.
The price would need to rise above $1.23 for buyers to get back in the driver's seat. The pair could rise to $1.33 and then $1.52.
Conversely, if the pair falls below $1, the pair could fall to $0.84. This is an important short-term support to watch, as anything below it indicates a short-term trend change.
Virtual protocol price analysis
Virtuals Protocol (VIRTUAL) has corrected to the uptrend, but finding support at the 20-day EMA ($2.14) is a slight positive.
The sloping 20-day EMA and positive RSI indicate that buyers have the upper hand. If the price rises above $2.85, the VIRTUAL/USDT pair can rise to $3.32. A break and close above this resistance could push the pair to $4.
If, contrary to this assumption, the price continues to decline and dips below the 20-day EMA, it would suggest that the bulls are booking profits. There is another solid support at $2, but if that level breaks, the pair could enter a deeper pullback to $1.50.
Although the pair is below the moving averages, bears are finding it difficult to push the price down to $2. This suggests that selling will dry up at lower levels. Buyers will try to push the price above the moving averages, opening the door for a rally to $3 and then $3.32.
Conversely, if the price falls from the moving average, it indicates that the bears are rallying and selling. If this happens, the pair could sink to solid support at $2. If this support breaks, the pair could fall to $1.50.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk and readers should conduct their own research when making decisions.
