Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Bulls are trying to be back in the game after <a href="https://u.today/xrp-price-analysis-for-january-3" rel="noopener noreferrer nofollow">yesterday's dump</a>. <img data-entity-type="file" data-entity-uuid="e14ec592-a583-4143-bd26-9c865aae0946" src="https://u.today/sites/default/files/inline-images/top10_866.png">Top coins by <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
<h2 class="text-align-justify" id="btc-usd">BTC/USD</h2>
The price of Bitcoin (BTC) has risen by 1.67% over the last 24 hours. <img data-entity-type="file" data-entity-uuid="861dd00a-e100-4362-96af-0790d4d9e4d9" src="https://u.today/sites/default/files/inline-images/btc1_161.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the rate of BTC has broken the local resistance of $43,290 and is trying to stay above it. If bulls manage to hold the initiative, the growth may continue to the $44,000 zone tomorrow. <img data-entity-type="file" data-entity-uuid="1a134275-5272-4f84-88e6-ee02eeaaa4c8" src="https://u.today/sites/default/files/inline-images/btc2_144.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
A different picture is on the daily time frame. The price needs time to get energy for a further move after such a big drop. In this case, ups or downs are unlikely to happen shortly.
Sideways trading in the area of $42,000-$44,000 is the more likely scenario until the end of the week. <img data-entity-type="file" data-entity-uuid="a2fe116e-0e66-4a61-aa49-4a0030698561" src="https://u.today/sites/default/files/inline-images/btc3_143.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, one should wait until the bar closes. If it happens near the resistance level of $44,779, buyers can maintain the rise, which can lead to a test of the $48,000 zone.
Bitcoin is trading at $43,273 at press time.

Bitcoin (BTC) Price Analysis for January 4

Table of Contents

U_Today

Other articles published on Jan 4, 2024

Bitcoin Halving Warrants Attention, Notes ‘Rich Dad Poor Dad’ Author

Crypto Security Incidents in 2023: A Comprehensive Report

The U.S. Authorities Hold More Bitcoins Than Microstrategy

Trader Says Ethereum-Based Blue Chip Altcoin Could Explode Over 100%, Updates Outlook on Bitcoin ...

Altcoin Kian Bersinar, Cardano, Helium dan Pullix Jadi Sorotan

Bitcoin Move from Former Citigroup Executives That Doesn't Require SEC Approval!

Join our free newsletter for daily crypto updates!