Bitcoin Analysis for 2020-01-23 [Premium Analysis]

Bitcoin Analysis for 2020-01-23 [Premium Analysis]
фото показано с : beincrypto.com

2020-1-24 12:15

Bitcoin Price Highlights The Bitcoin price is trading inside a short-term range between $8550-$8750. The price is trading between the 200- and 400-hour moving averages. Technical indicators are undecided, slightly leaning on bearish. There is long-term support at $7700-$8000. Trading Range

Since breaking down from the ascending wedge on January 19, the Bitcoin price has been trading inside a range between $8550-$8750.

During this time, the price has made several overthrows — cases in which it has moved below/above the support/resistance of the range before quickly reversing in the other direction.

At the time of writing, it had briefly moved below the support area before reversing and going in the other direction. It is in the process of creating a bullish hammer, which would be the first step in heading towards the range high.

In addition, the price is trading between the 200- and 400-hour moving averages (MAs), which are roughly at the support and resistance areas.

The RSI is tilting towards a price increase, but its movement has yet to confirm it. While there is some bullish divergence developing, the RSI has been trading below the 50 level since the breakdown on January 19.

In order to fully indicate that the price is heading upwards, the RSI needs to cross 50 and begin moving upward — confirming the strength of the rally.

Possible Weakness

The ascending wedge breakdown was preceded by bearish divergence in the 12-hour RSI. Afterward, the RSI did not make a failure swing top — rather, it created a descending triangle.

Initially, it seemed as if the RSI would bounce at the support line and move towards resistance. However, it is in the process of decreasing below it and completing the failure swing top.

Unless the short-term bullish divergence is sufficient in moving the price upwards within the next few hours, we think the price will break down and head towards $7800-$8000. Thus, the use of a stop loss below the support area would be recommended.

To conclude, the Bitcoin price has been continuing to trade within the same range. Both a breakout and a breakdown remain possible, but we are slightly leaning towards a breakdown. The use of a stop loss below the support area would be recommended.

For our previous analysis, click here.

The post Bitcoin Analysis for 2020-01-23 [Premium Analysis] appeared first on BeInCrypto.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 70337.53 (-0.83%)
Объем 24H $46.488b
Изменеия 24h: -4.82 %, 7d: 1.28 %
Cегодня L: $70337.53 - H: $71538.73
Капитализация $1406.965b Rank 1
Цена в час новости $ 8397.54 (737.6%)

price bitcoin between trading analysis bearish technical

Источник: beincrypto.com

price bitcoin → Результатов: 126


Фото:

Elliot Wave Theory Says Bitcoin Price Is Headed To $40,000, But The End Game Will Shock You

A technical analyst known as ‘V’ has shared a striking Elliott Wave Theory-based Bitcoin price outlook on X that he believes most market participants are completely overlooking. The chart, plotted on Bitcoin’s weekly timeframe, outlines a multi-year roadmap that could first subject the cryptocurrency to significant downside pressure, potentially triggering a price crash to $40,000 before setting the stage for an explosive rally that could shock investors and traders.

2026-3-4 18:00


Kaspa (KAS) Price Mirrors Bitcoin’s Early Path As Chart Points To New All Time High

Kaspa price is back in focus after a chart surfaced showing a striking resemblance between KAS price action and Bitcoin price behavior before one of its most powerful historical rallies. The visual comparison is hard to ignore, showing a long consolidation phase, gradual upward pressure, and then a sharp expansion that changed Bitcoin’s trajectory completely.

2026-1-21 17:30


Фото:

Bitcoin demand is breaking out, but dealers are mechanically forcing stability: Here is the exact price the dam cracks

Bitcoin is now trading around near $96,000 as spot ETF inflows and options market positioning exert opposing mechanical forces on price behavior. The current price sits just outside a range between roughly $90,000 and $94,000, a band that has persisted despite intermittent surges and declines in spot demand through US-listed Bitcoin exchange-traded funds.

2026-1-16 20:50


Фото:

Bitcoin Big Move Incoming? BTC Whales Are Stacking Long Positions At A Rapid Pace

Bitcoin’s price may be showcasing slight upward movement, but the overall outlook is still quite bearish considering the volatile state of the broader cryptocurrency market. Even with the flagship asset trading below the $90,000 price mark for the past few weeks, expectations for another huge rally remain solid in the hearts of major investors as […]

2025-12-29 19:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru