Crypto Market Outlook: Nearing A Make Or Break Moment

Whilst the euphoric sentiment towards Bitcoin has been largely washed out amid this pullback and on-chain data is beginning to appear more favourable, we are nearing some very important key technical levels for both Bitcoin and Ethereum.Though we could see positive price appreciation within the early months of 2022, for those betting on $100K Bitcoin and $20K Ethereum in December 2021, it is time to reign in your expectations.After what proved to be a false breakout attempt to new all-time highs in early November, BTC now lies right at the confluence of the 50-period moving average on the weekly chart and the ascending trendline that has held up well thus far since the March 2020 lows.Ethereum meanwhile has shown significant relative strength over recent months.Will we see the market rally into January and February? Quite possibly, particularly so if hedge funds and institutions enter the market as they reset their books for the new calendar year.