Bitcoin Price Prediction January 30

The daily chart shows that the Bitcoin price prediction reaches the daily low of $37,744 with losses below $38,000.

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

These are the key levels

Resistance Levels: $44,000 - $46,000 - $48,000

Support Levels: $33,000, $31,000, $29,000

BTC/USD is trading within the 9-day, 21-day moving averages. Bitcoin prices are likely to test important support levels near $36,500, $36,000, and it appears like bears have gained strength. They might try again for 35,000 support. Any further losses could lead to a bigger decline towards the channel's lower boundary. The bears might keep BTC/USD below its 9-day moving average.

Bitcoin Price Prediction: Can Bitcoin (BTC), Stay Above $38,000?

The daily chart shows that the Bitcoin price appears to have decided that a recovery is impossible at the moment. The current market price of Bitcoin is at $37,000 but this support was overwhelmed by the mid-week trading session. Bitcoin's price hovers around $38,017, while bears tighten their grip. The Bitcoin price will rise above the 21-day moving mean before reaching potential resistance levels of $44,000, $46,000 and $48,000.

The Bitcoin price has been trending downwards since last month, when it hit a $68,000 local high. The daily time-frame indicators have turned bearish due to the Relative Strength Index (14) remaining below 40. Daily signals are bearish and a further drop in the price could result in $33,000, $31,000 and $29,000 support.

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

The 4-hour chart shows that BTC/USD bulls will likely return to the market and trade above the 9-day or 21-day moving averages. If the Bitcoin price crosses the upper boundary of this channel, then the $41,000 or higher may be reached.

Contrary to popular belief, sellers could hit the market once more and drive the price down. Traders may expect a fall below the moving averages. The bears may be able to break this barrier and touch $35,000 or lower, but the technical indicator Relative Strength Index (14) has been moving below 60-level. This indicates a sideways move.

-------------------------------------

By: Azeez Mustapha
Title: Bitcoin Price Prediction: BTC/USD Maintains $38,000 Level
Sourced From: insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-maintains-38000-level
Published Date: Sun, 30 Jan 2022 16:36:06 +0000