Connect with us


Bitcoin Price Prediction: BTC/USD Price Hunts for a Clear Pathway to $45,000



Azeez Mustapha

Bitcoin Price Prediction – January 14

The Bitcoin price prediction shows that BTC is fighting to hold above the $43,000 but overhead pressure continues to make this task a difficult one for the bulls.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $48,000, $50,000, $52,000

Support Levels: $38,000, $36,000, $34,000

BTCUSD – Daily Chart

At the time of writing, BTC/USD is seeking support above $42,500 to avoid extending the bearish leg to $40,000. The 9-day moving average is also a key level in the mission to avert the losses, perhaps reverse the trend for gains heading to $45,000. Alternatively, the BTC bulls need to find acceptance above the intraday highs of $42,987 to refuel the recovery momentum.

Bitcoin Price Prediction: Bitcoin Price May Consolidate within the Moving Averages

The Bitcoin price is stable above $42,000 as it is currently attempting an upside break above the 9-day moving average. Meanwhile, a close above $43,000 could open the doors for a larger increase in the coming sessions. In the past few days, Bitcoin price traded in a range above the $40,000 support zone. More so, BTC/USD is slowly moving higher towards the $43,000 resistance level. The next key resistance level may be found at 45,000, above which the bulls are likely to hit the potential resistance levels at $48,000, $50,000, and $52,000 in the near term.

On the other hand, if there is no clear break above $43,000, there are chances of a fresh decline. However, as the 9-day MA remains below the 21-day MA, the coin may stay within the negative side and initial support is near the $40,000 level. The main support is now forming near the $42,000 level, below which the price could dive towards the supports of $38,000, $36,000, and $34,000 as the technical indicator Relative Strength Index (14) remains below 40-level.

BTC/USD Medium – Term Trend: Bearish (4H Chart)

On the 4-hour chart, a retest of $42,000 support gives the impression that the bulls are not yet ready for the upside. The Bitcoin price is likely to drop more as the bears continue to control the market dragging the coin towards the lower boundary of the channel. In a short time, BTC/USD may hit $41,000 if the bearish pressure continues as the price may touch the supports of $40,000 and below.

On the upside, a bullish move may hit the resistance at $44,000 and above. As of now, the technical indicator Relative Strength Index (14) is seen moving to cross below 40-level, this could take the market to a bearish scenario.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Continue Reading



Public Companies Hold A Combined $11.8 Billion Worth Of BTC On Their Balance Sheet – See The Leading Firms

Crypto Mining3 weeks ago

Aliyu Pokima Publicly traded companies went all-in on Bitcoin in 2021 led by Michael Saylor’s MicroStrategy.Other firms on the list...

Indian Regulator SEBI Wants Mutual Funds to Stay Away From Crypto Investments Until Legislation Is Finalized

Crypto Mining3 weeks ago

Kevin Helms The Securities and Exchange Board of India (SEBI) has reportedly asked mutual fund companies not to get involved...

XRP Creator Chris Larsen Proposes Strategy To Incentivize Bitcoin Miners To Move Away From Proof-of-Work

Crypto Mining1 month ago

Brenda Ngari XRP inventor and Ripple executive chairman Chris Larsen has unveiled a plan to entice miners of the flagship...

Iceland Refuses to Power New Bitcoin Farms Amid Electricity Shortages

Crypto Mining1 month ago

Lubomir Tassev Cryptocurrency mining is among several energy-intensive industries hurt by a power deficit in Iceland. The country’s main utility...

Public Bitcoin Miners Are Increasing Their BTC Treasuries

Crypto Mining2 months ago

Dylan LeClair And Sam Rule Publicly-traded bitcoin mining firms have been accumulating and holding bitcoin at an increasing rate.The below...

NASDAQ-Listed HIVE Blockchain to Expand Data Center in New Brunswick, Canada With 40 Megawatts Capacity

Crypto Mining3 months ago PR HIVE Blockchain is set to expand its data center campus in New Brunswick, Canada with 40 megawatts capacity....

%d bloggers like this: