Bitcoin (BTC) has reported losses in January for the last four years, and a fifth now looks on the cards.
The leading cryptocurrency by market value fell 32 percent, 14.6 percent, 0.10 percent and 26.64 percent in the first month of 2015, 2016, 2017 and 2018, respectively, according to CoinDesk’s Bitcoin Price Index.
Notably, the odds are stacked in favor of BTC extending the four-year January losing streak this year.
BTC fell 13 percent last week, signaling an end of the corrective bounce from the December low of $3,122. The sell-off reinforced the bearish view put forward by the downward sloping 10-week simple moving average. As a result, a drop to $3,122 in the next couple of weeks cannot be ruled out.
That said, the probability of BTC beating the trend this month would rise if the former support-turned-resistance of the 21-day moving average (MA), currently at $3,768, is convincingly scaled in the next few days. A breach there would strengthen the short-term bullish case.
https://www.coindesk.com/will-bitcoins-price-extend-its-four-year-january-losing-streak