E Point Perfect

Bitcoin (BTC) Price Analysis for January 22


article image

Denys Serhiichuk

How big are chances to see further growth of Bitcoin (BTC) next week?

Most of the coins might need a correction before the next wave of growth.

Top coins by CoinMarketCap


Even though the price of Bitcoin (BTC) has dropped by 0.32% since yesterday, the rate has grown by more than 10% over the last week.

BTC/USD chart by TradingView

On the local chart, the price of Bitcoin (BTC) is in the narrow range between the support at $22,702 and the resistance at $22,969. At the moment, the rate is on the way to the upper line, which means that bulls are not going to give up.

In case of a breakout, the growth may continue to the $23,100-$23,200 zone.

BTC/USD chart by TradingView

On the bigger time frame, the situation is also positive as the price has bounced back from the recently formed support level of $22,750. If closure happens near the important $23,000 zone, the upward move can continue to $23,362.

BTC/USD chart by TradingView

From the midterm point of view, the weekly candle is about to close above the $22,781 mark, which means that Bitcoin (BTC) remains bullish. In this regard, the energy might be enough for a move to the next resistance area of around $25,000.

Bitcoin is trading at $22,912 at press time.


Source link

Related posts

Cardano’s Djed Stablecoin Might Soon Launch; Here’s When

Is XRP Still Good Bet?

Terraform Labs Co-Founder Denies Accusations of Fraud

Dogecoin and Shiba Inu Remain Among Most Popular Cryptocurrencies in U.S.

Israel’s Main Stock Exchange to Launch Cryptocurrency Trading: Details

Cardano-Based Meme Coin Soars 17% as It Becomes Most Engaged Project This Week, Per Charles Hoskinson