Bitcoin (BTC/USD) Price Hovers Between $22,000 and $23,000
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Bitcoin Price Prediction – January 18
The BTC/USD market-economic price is hovering between $22,000 and $23,000 trading zones after a chain of upsurges in valuation. Today’s session hours have produced a high of $22,787.18 and a low of $22,342.54 points at a minute average percentage rate of 0.41 negative. The condition appears, indicating that northward pushes are gradually decreasing.
BTC/USD Market
Key Levels:
Resistance levels: $23,000, 24,000, $25,000
Support levels: $21,000, $20,000, $19,000
BTC/USD – Daily Chart
The BTC/USD daily chart showcases the crypto market price hovering between the $22,000 and $23,000 trading line, far above the trend lines of the SMAs. The 14-day SMA indicator is at $20,104.58 over the $18,894.67 value line of the 50-day SMA indicator. A series of smaller bearish candlesticks is building a pattern, indicating that a correction is on the way. The Stochastic Oscillators have crossed southbound from the overbought region to position at 67.38 and 45.51 levels. That implies a reduction is taking place in the valuation of the chief cryptocurrency.
Will the BTC/USD market resort to a massive retracement motion against the SMA points?
Currently, it is unethical to project a nearly massive correction movement against the trend lines of the SMAs even though the BTC/USD price is hovering between $22,000 and $23,000 trading lines as of writing. Long-position traders must be strategic by looking for a test or a modest breach of the previously specified point returning with an active move to execute an immediate long order. They must safeguard their position entrance over the psychological support threshold of roughly $20,000.
On the southward-moving side of the BTC/USD market technical analysis, another round of detecting a critical resistance-trading spot has been around the $23,000 level. As a result, a breakout against it will likely prolong the transaction, leading to rejections at higher-trading zones such as $24,000 to $26,000 in the long term.
BTC/USD 4-hour Chart
The BTC/USD medium-term chart showcases the crypto-economic price is hovering between $22,000 and $23,000. Variant trading candlesticks have formed around the latterly mentioned point to denote rejection signs against getting sustainable ups. However, the trending outlook of the market maintains a bullish pattern as the 14-day SMA indicator is at $22,579.52 above the $20,929.88 value line of the 50-day SMA indicator. The Stochastic Oscillators are in the oversold region, keeping double levels of 4.04. As of this writing of analytics, it implies that an indecision condition is relatively ongoing. However, from a technical standpoint, if bears retreat from the current trading capacity zone, some momentum losses would reemerge, maybe to $21,000 in the medium term.
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