Bitcoin Price Prediction: BTC/USD Drops Below $43,000 Level

Share This Post


Bitcoin Price Prediction – January 13

The Bitcoin price prediction shows that BTC makes sharp correction after touching the daily high of $44,453.

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

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD makes a sharp slide below $42,500 level as buying pressure cools off. However, the market price is seen trading below the 21-day moving average and could form a low at near $42,000 before stabilizing. At the time of writing, the Bitcoin price is yet to cross below the 9-day moving average as it is down by 3.48% at its price of $42,390.

Bitcoin Price Prediction: Bitcoin Price May Consolidate

The Bitcoin price is likely to test lower levels in the next few hours and a decisive break below $42,000 support may intensify selling pressure. However, if the coin slides below the 9-day moving average, the market may return into the bearish movement. In another words, the market is likely to consolidate for the next few days and the next hurdle for the king coin could come at $44,000 but may not stop the higher price movements.

Looking at the daily chart, bulls need massive liquidity and volume to push the coin above the upper boundary of the channel to make a dash to the $55,000 level. The technical indicator Relative Strength Index (14) is seen sliding below 40-level as the signal line heads downward but a reversal is likely to come into play if the resistance level of $43,000 is reclaimed.

However, the persistence trade above $45,000 level may technically push the coin to the resistance levels of $48,000, $50,000, and $52,000 while the supports lie at $38,000, $36,000, and $34,000.

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

Looking at the 4-Hour chart, Bitcoin (BTC) is trading below the 9-day and 21-day moving averages as the coin heads to the downside. Now, the Bitcoin price is currently hovering around $42,595 support level.

BTCUSD – 4 Hour Chart

However, if the selling pressure increases within the market, the Bitcoin price may likely hit the support level of $41,000 and below. On the other hand, if the buyers push the coin above the upper boundary of the channel, then the resistance level of $44,000 and above may be reached but the Relative Strength index (14) aims to cross below 45-level, indicating additional bearish movement.

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:

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Solana Surges As Momentum Resumes, Is $240 the Next Stop?

Solana (SOL) is gaining momentum once more, with bullish energy pushing it higher as it aims for the next major resistance at $240 Following recent consolidations, SOL has surged onto traders’

Coinbase Acquires Utopia Labs Team to Accelerate Onchain Payments

Coinbase is enhancing its onchain payments capabilities with the acquisition of the Utopia Labs team, which will join Base to advance the onchain payments roadmap within Coinbase Wallet Jesse Pollak,

Crypto Legal Battle: 18 States Accuse SEC Of Unconstitutional Regulatory Actions

In a significant challenge to the US Securities and Exchange Commission (SEC) and its regulatory approach toward the crypto industry, 18 states have filed a lawsuit against the agency and its

SEC facing joint lawsuit from 18 US states over ‘unconstitutional persecution’ of crypto

Attorney Generals of 18 US states have filed a joint lawsuit against the Securities and Exchange Commission (SEC), its Commissioners, and Chair Gary Gensler The lawsuit accuses the agency of

Senator Lummis Proposes Selling Fed’s Gold To Fund Strategic BTC Reserve: Bloomberg

The post Senator Lummis Proposes Selling Fed’s Gold To Fund Strategic BTC Reserve: Bloomberg appeared first on Coinpedia Fintech News According to a latest Bloomberg report, Republican Senator

New Era For Crypto Regulation? SEC Chair Gensler Suggests He May Step Down

A potential shift in crypto regulation could be in the works as the US Securities and Exchange Commission (SEC) Chairman Gary Gensler hints at a possible resignation following President-elect Donald