Bitcoin Price Prediction January 27

According to the Bitcoin price prediction, BTC will experience another breakdown and could reach the support level at $35,000.

BTC/USD Long-term Trend Bearish (Daily chart)

These are the key levels

Resistance Levels: $42,500 - $44,500 - $46,500

Support Levels: $30,500, $28,500, $26,500

After an upswing in the last few days, BTC/USD has reverted to a selling mode. The resistance level of $38,960 was reached yesterday, and the coin has been retreating ever since. BTC/USD trades at $36,537 as of the writing. This is 0.82% lower than the 9-day moving mean. The channel's lower boundary continues to be occupied by the first digital asset.

Bitcoin Price Prediction: Bitcoin price prediction: Bitcoin (BTC). Bitcoin (BTC).

Bitcoin's price is not holding a few important support levels near $35,000. The price is likely to fall below the 9-day or 21-day moving averages. The price could reach the $34,000 level if it breaks below the $35,000 support level. The bears are growing in momentum. If the price breaks the $33,000 support level, there is a possibility of a sharp fall below the channel's lower boundary. The king coin could reach the support levels at $30,500, $28,500 and $26,500.

The market is currently deciding below the 9 and 21-day moving medians. Buyers could expect a rebound. If the $37,000 level is not broken, then the potential resistances at $38,000 and $40,000 may continue to surface. A strong bullish spike could push the price up to $42,500, $44,500 and $46,500 levels. However, Relative Strength Indicator (14) is currently in the oversold area.

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

The 4-hour chart shows that Bitcoin bears have pushed the price higher than its previous resistance level, which is above the 21-day moving mean. The Bitcoin price hasn't fallen below $35,000, but it is still on the verge of bouncing above the 9-day moving mean. Its current price is $36,777, but it may take some time for it to trade above that upper limit.

BTC/USD is currently trading within the 9-day, 21-day moving averages. Further upward movement could push the price towards the $40,000, $42,000 and $44,000 resistance levels. Support lies at $34,000 and $32,000 respectively. Relative Strength Index (14), which is a technical indicator, moves at 50-level. This could allow the market to move sideways.

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By: Azeez Mustapha
Title: Bitcoin Price Prediction: BTC/USD Falls Below $37,000 in Sudden Sell-Off
Sourced From: insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-falls-below-37000-in-sudden-sell-off
Published Date: Thu, 27 Jan 2022 13:28:10 +0000