2024

Bitcoin

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   Jan 02, 2024 at 11:20 // 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/81a/900_900_1/gnxn5onovvg38nukf0xvj0eg62y6ir18.jpg" width="900" height="563" alt="" title="">
 <p><strong>The Bitcoin (BTC) price is moving sideways and continues to encounter resistance at the high of $44,000. On January 2, BTC reaches $45,650.</strong></p>
 <h2 style="text-align: justify;" id="long-term-forecast-for-the-bitcoin-price-fluctuating">Long-term forecast for the Bitcoin price: fluctuating</h2>
 <p style="text-align: justify;">The largest cryptocurrency has fallen below the 21-day SMA twice and is currently above the 50-day SMA. Bitcoin will rise if the price breaks above the 21-day simple moving average and returns to the previous high of $44,700.&nbsp;</p>
 <p style="text-align: justify;">On the other hand, Bitcoin is at risk of falling if it fails to break above the 21-day SMA. If buyers fail to sustain the price above the 21-day SMA, the crypto asset will fall above the 50-day SMA or the $40,400 floor.&nbsp;</p>
 <p style="text-align: justify;">Meanwhile, the Bitcoin price is trading in the middle of the moving average lines. At the time of writing, it is worth $45,650.</p>
 <h2 style="text-align: justify;" id="bitcoin-indicator-display">Bitcoin indicator display</h2>
 <p style="text-align: justify;">As Coinidol.com reported before, since December 26, Bitcoin has been trapped between the moving average lines. The cryptocurrency value will be forced to move between the moving average lines for a few days. Despite the sideways trend, the ascending moving average lines are pointing north.</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.01.jpg" src="https://cdn.thebittimes.com/images/2024/01/02/ebef8341e8d00311bef3f7a36ea77633.webp" height="491" title="BTCUSD_(Daily Chart) – Jan.01, 2024"></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;">After the breakdown of the uptrend on December 5, Bitcoin has maintained its upward momentum by staying above the psychological price barrier of $40,000.&nbsp;</p>
 <p style="text-align: justify;">The Bitcoin price is currently fluctuating between $41,000 and $44,000, with a long candlestick tail above the lower price range characterising the price action. The extended tail of the candlestick indicates strong support at a lower price level.</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_(4-Hour Chart) – Jan.01.jpg" src="https://cdn.thebittimes.com/images/2024/01/02/f4c0860eb08e2360a446856bdf0fac36.webp" height="491" title="BTCUSD_(4-Hour Chart) – Jan.01, 2023"><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 the 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-reaching-the-high-of-45-000-in-january-2024-tbt75365.html">https://thebittimes.com/bitcoin-reaching-the-high-of-45-000-in-january-2024-tbt75365.html</a></p>

Bitcoin Reaching The High Of $45,000 In January 2024

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TheBitTimes

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