2024

Dollars

Bitcoin

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   Jan 26, 2024 at 06:08 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </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/869/900_900_1/rnln511q01rxpmeenxzbmln67mzd1tzp.jpg" width="900" height="563" alt="" title="">
 <p><strong>The price of Bitcoin (BTC) has fallen below the moving average lines but remains above the support level of $38,600.</strong></p>
 <h2 style="text-align: justify;" id="long-term-forecast-for-the-bitcoin-price-bearish">Long-term forecast for the Bitcoin price: bearish</h2>
 <p style="text-align: justify;">Since January 11, the price of the cryptocurrency has shown a pattern of lower highs and lower lows. On January 22, the bears broke through the psychological price mark of $40,000, sending Bitcoin to a low of $39,452. The cryptocurrency fell further to a low of $38,572, but the bulls bought the dips. The BTC price has corrected upwards and is consolidating above the $39,000 support.</p>
 <p style="text-align: justify;">On the downside, selling pressure has eased as Bitcoin has risen above the $38,600 support. Bitcoin is likely to move in a range between $38,600 and $44,000 if the current support holds. On the other hand, if the current support is broken, Bitcoin could fall further. The market will continue to fall, with a low of $34,500 likely to be reached.</p>
 <h2 style="text-align: justify;" id="bitcoin-indicator-display">Bitcoin indicator display</h2>
 <p style="text-align: justify;">The BTC price bars are below the downward sloping moving average lines. The decline has reached bearish fatigue, with the cryptocurrency bouncing above the $38,600 support. Bitcoin has a bearish crossover with the 21-day SMA falling below the 50-day SMA. The moving average lines are trending south, indicating a downturn.</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. 25.jpg" src="https://cdn.thebittimes.com/images/2024/01/26/1c823c9493705a000598b19779cb1f46.webp" height="491" title="BTCUSD_(Daily Chart) – Jan. 25, 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;">On the 4-hour chart, Bitcoin has lost value after hitting a low of $38,600. According to the price indicator, Bitcoin will fall and then rise again at $39,793, the level of the 1.272 Fibonacci extension. The Bitcoin price recovered from the volatility but continued to fluctuate above the critical $40,000 threshold.</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_4 - Hour Chart) – Jan. 25.jpg" src="https://cdn.thebittimes.com/images/2024/01/26/514fda270f71f1863a426d9d039fdc0f.webp" height="491" title="BTCUSD_4 - Hour Chart) – Jan. 25, 2024"><br></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 their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-falls-but-reaches-the-psychological-price-barrier-of-40-000-dollars-again-tbt77834.html">https://thebittimes.com/bitcoin-falls-but-reaches-the-psychological-price-barrier-of-40-000-dollars-again-tbt77834.html</a></p>

Bitcoin Falls, But Reaches The Psychological Price Barrier Of 40,000 Dollars Again

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TheBitTimes

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