Bitcoin (BTC/USD) Market Pushes in a Bullish-Straight Path
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Bitcoin Price Prediction – January 18
A lot of effort has been put in by the BTC/USD trade long-position movers as the crypto market pushes in a bullish-straight path over the lower-trading range-bound zones in the recent operation. The positive trading momentum has continued to be between $21,549.01 and $21,120.46 at an average percentage rate of 1.16. That means selling activities are yet to regain their positions.
BTC/USD Market
Key Levels:
Resistance levels: $22,500, $23,500, 24,500
Support levels: $19,500, $18,500, $17,500
BTC/USD – Daily Chart
There has been a conjoining link in a series of variant bullish candlesticks formed on the BTC/USD daily chart, revealing that the market pushes in a bullish-straight path over the trend lines of the SMAs. The current situation portends a slight crossover between the SMA trading indicators as the 14-day thread is at $18,512.31 above the $18,363.20 value line of the 50-day thread. The Stochastic Oscillators are in the overbought region, moving in a consolidation style to denote that an upward-increasing force is on the rise until the moment of writing this analytical article.
At what point will a change in the BTC/USD market’s positive trading outlook be nullified?
Confirmation of a decline resumption in the BTC/USD trade operation will have to be when a bearish candlestick eventually occurs against the 14-day SMA indicator, as currently, the crypto market pushes in a bullish-straight path far over the SMA indicators. Buyers are in a higher note capacity of domineering outlook at the expense of bears’ weaknesses. In the meantime, entry for buying orders isn’t visible despite the northward pressures.
On the southward-moving side of the BTC/USD market technical analysis, short-position takers are to put off from placing an order for a while at this moment. The reason being that there has been no reliable formation to project the potentiaslity of getting a stable stance capable of opposing the current uprisings in the level of the crypto’s valuation. That said, if a bearish trading candlestick returns to engulf some of the bullish penultimate candlesticks from a top-resistance trading zone, then, bears may build along its path for making entres in the process.
BTC/USD 4-hour Chart
The BTC/USD medium-term chart showcases the crypto market pushes in a bullish-straight path over the SMA trend lines. The 14-day SMA indicator is $20,776.83 above the $18,968.07 point of the 50-day SMA indicator. The Stochastic Oscillators have moved southbound into the oversold region to consolidate. That appears that the momentum-building mode to the upside has not weakened.
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