2024

Bitcoin

<div class="coinidol">
 <div class="info">
  <div class="news_info">
   Jan 19, 2024 at 09:38 // Price
  </div>
  <div class="author-box">
   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
  </div>
 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/47c/900_900_1/k7902lyp0zev85khd0kcbgwpdzgh4zog.jpg" width="900" height="563" alt="" title="">
 <p><strong>The price of Bitcoin (BTC) has been in a downtrend range since the price drop on January 12, 2024.</strong></p>
 <h2 style="text-align: justify;" id="bitcoin-price-long-term-forecast-bearish">Bitcoin price Long-term forecast: bearish</h2>
 <p style="text-align: justify;">The largest cryptocurrency has stabilized after falling above the $41,500 support. Bitcoin has fluctuated between $41,500 and $43,600 over the past week. The value of the cryptocurrency today stands at $42,667. On January 16, 2024, the bullish momentum was rejected when the cryptocurrency fell below the moving average lines. The presence of doji candlesticks has limited the price movement within the range.</p>
 <p style="text-align: justify;">However, a price rise above the moving average lines will indicate the resumption of the uptrend. Bitcoin will return to its previous high of $48,000. Should the bears undercut the current support at $41,500, Bitcoin will fall further to a low of $40,000. In the meantime, Bitcoin is holding above the $42,000 level.</p>
 <h2 style="text-align: justify;" id="bitcoin-indicator-reading">Bitcoin indicator reading</h2>
 <p style="text-align: justify;">The largest cryptocurrency is trading in the downtrend zone, with price bars below the moving average lines. The cryptocurrency will try to fall as long as it is in the downtrend zone. On the daily chart, the moving average lines are still pointing upwards, reflecting the previous trend.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $35,000 and $40,000</b></p>
 <p style="text-align: justify;"><b>Key support levels – $30,000 and $25,000</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="BTCUSD_(Daily Chart) – Jan.18.jpg" src="https://cdn.thebittimes.com/images/2024/01/19/f1efd4e4a3d65aa3d67b25fefe585b47.webp" height="491" title="BTCUSD_(Daily Chart) – Jan.18, 2024"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-btc-usd">What is the next direction for BTC/USD?</h2>
 <p style="text-align: justify;">Bitcoin is still trading above the $41,500 support. The price action has been limited by the Doji candlesticks. BTC prices are moving between $41,500 and $43,600. A rally or breakout will bring Bitcoin into the trend.</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_(4-Hour Chart) – Jan.18.jpg" src="https://cdn.thebittimes.com/images/2024/01/19/7a9b21535cb10da67aa4aebc92435c5a.webp" height="491" title="BTCUSD_(4-Hour Chart) – Jan.18, 2024"></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do the research before investing in funds.</span></i></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-remains-above-42-000-due-to-traders-disinterest-tbt77104.html">https://thebittimes.com/bitcoin-remains-above-42-000-due-to-traders-disinterest-tbt77104.html</a></p>

Bitcoin Remains Above $42,000 Due To Traders' Disinterest

Table of Contents

TheBitTimes

Other articles published on Jan 19, 2024

Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower

Hong Kong's VSFG Plans to Apply for Spot Bitcoin ETF

XRP Price Enters Crucial Buy Zone As Staggering Breakout To $5 Beckons

Why OP and ARB Recoveries Depend on ETH’s Next Movement

Liminal Partners With Dubai Based Encryptus to Bridge the Gap Between Crypto and Fiat

Solana Mobile 2 bags more pre-orders than Apple Vision Pro, BONK to rally?

Join our free newsletter for daily crypto updates!