Price analysis 9/14: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

cointelegraph.com:

The United States equities markets and the cryptocurrency markets had been rising leading up to the Sept. 13 release of the August Consumer Price Index data, but the rally fell apart once the data showed inflation rising, rather than falling.

The negative data dashed any hope of a Federal Reserve pivot in the near term and it triggered a sharp decline in risky assets. The market capitalization of U.S. stocks plunged by about $1.6 trillion on Sept. 13 and the market cap of the cryptocurrency markets slipped below $1 trillion.

Statistician and independent market analyst Willy Woo, believes that Bitcoin (BTC) may have to fall further before it reaches the maximum pain experienced during previous bottoms. Woo expects Bitcoin price to decline below $10,000.

Could Bitcoin and altcoins resume their downtrend? Let’s study the charts of the top 10 cryptocurrencies to find out.

Bitcoin broke above the 50-day simple moving average (SMA)($21,902) on Sept. 12, but this proved to be a bull trap. Buyers attempted to extend the recovery on Sept. 13 but the rally reversed direction from $22,799.

Aggressive selling by the bears pulled the price back below the 20-day exponential moving average (EMA) ($20,722). A minor positive is that the bulls are attempting to stall the decline at $20,000.

If buyers push the price back above the 20-day EMA, it will suggest that lower levels continue to attract buyers. The BTC/USDT pair will then attempt to rise to the 50-day SMA and later retest $22,799. A break and close above this resistance could open the doors for a possible rally to $25,211.

Contrary to this assumption, if the price slips below $19,860, the pair could drop to the $18,510 to $17,622 zone. The bulls are expected to defend this zone with