Bitcoin Price Prediction for Today, January 24: BTC/USD Reclaims $23,000 Level

The Bitcoin worth prediction revisits the resistance stage of $23,000 because the king coin targets a $24,000 excessive.

Bitcoin Prediction Statistics Information:

Bitcoin worth now – $23,012
Bitcoin market cap – $443.7 billion
Bitcoin circulating provide – 19.2 million
Bitcoin complete provide – 19.2 million
Bitcoin Coinmarketcap rating – #1

BTC/USD Lengthy-term Development: Bullish (Every day Chart)

Key ranges:

Resistance Ranges: $27,000, $28,000, $29,000

Assist Ranges: $20,000, $19,000, $18,000

BTC/USD is recovering in the direction of the upside as the primary digital asset touches the resistance stage of $23,165. For the previous few days, the Bitcoin worth has been going through the upside to the extent of crossing above the higher boundary of the channel.

Bitcoin Worth Prediction: Would BTC Enhance the Upward Motion?

In the mean time, merchants may see that the Bitcoin worth is heading towards the north because the 9-day MA development line is transferring above the 21-day MA getting ready to create extra upsides. Nonetheless, the technical indicator Relative Energy Index (14) is hovering throughout the overbought area in an try to retain the bullish motion.

In the meantime, a transparent break above the resistance stage of $24,000 may set the tempo for a bigger enhance to $27,000, $28,000, and $29,000 resistance ranges. Furthermore, ought to the Bitcoin worth fail to clear the resistance stage of $23,000, it may expertise a brand new decline in the direction of the decrease boundary of the channel. Subsequently, if there’s a draw back break under the 21-day transferring common, the value may hit the help ranges of $20,000, $19,000, and $18,000.

BTC/USD Medium-term Development: Ranging (4H Chart)

In keeping with the 4-hour chart, BTC/USD retains transferring sideways because the market exhibits an indication of a bullish motion. Nonetheless, following the latest rebound at $22,783 which is now a key help stage, the king coin is anticipated to remain above the 9-day and 21-day transferring averages as any bearish motion under this barrier may find the help stage at $21,500 and under.

Nonetheless, contemplating the latest sharp rebound, the Bitcoin worth could proceed the bullish motion above the resistance stage of $23,000. A climb above this stage could additional push the king coin to the resistance stage of $24,500 and above. As it’s now, it appears the bulls could return to the market because the Relative Energy Index (14) stays above the 60-level.

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