Bitcoin (BTC) Price Prediction – January 13
BTC/USD price is trading nicely above the $34,500 and the coin must climb above the 9-day moving average to continue higher.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Key levels:
Resistance Levels: $39,000, $41,000, $43,000
Support Levels: $30,000, $28,000, $26,000
BTC/USD bullish movement may come back into action after battering with the bearish movement for the past few days. Should in case this comes to play out, the expectation of recovery could turn out to be true. At the time of writing, BTC/USD is trading at $34,750 after soaring to $35,233 in the early hours of today’s trading.
What to Expect from Bitcoin (BTC)
The king coin is deciding around $34,750 between the 9-day and 21-day moving averages, where the buyers and sellers are anticipating a clear breakout or breakdown. Meanwhile, the $36,000 and $38,500 levels may further surface as the key resistances should the $35,500 level holds. However, a strong bullish spike may take the price to $39,000, $41,000, and $43,000 levels.
However, if the market makes a quick turn to the south, the Bitcoin price may likely revisit $32,300, and should this support fails to contain the sell-off; traders may see a further roll back to $30,000, $28,000, and critically $26,000. On the other hand, the technical indicator RSI (14) suggests an upward movement for the coin as the signal line moves above 60-level.
BTC/USD Medium – Term Trend: Ranging (4H Chart)
On the 4-hour chart, BTC is still following sideways movement, the cryptocurrency has been showing a sign of weakness since the last few days. Meanwhile, the hourly trading is looking slightly bullish; following the recent rebound at $34,362 which is now a key support level. The next key support levels are $31,000 and below.
Moreover, considering the recent rebounds, the Bitcoin price may re-enter the bullish rally to $36,000 resistance. A climb above the 9-day and 21-day moving averages may further push BTC price to $38,500 and above. As it is now, bears may likely return into the market as the RSI (14) moves below 50-level and the 9-day MA is under the 21-day MA, suggesting more downward directions.
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