spot_imgspot_imgspot_img

Bitcoin Investors are Monitoring this Critical Level! Updated BTC Analysis

  • Bitcoin is moving in an important resistance zone above the $31,000 level in its daily technical chart.
  • If BTC breaks the $31,000 resistance, it has the potential to rise to the $32,400 levels.
  • However, if the Bitcoin price fails to break the $31,000 resistance, it could extend its downward movement towards the $28,600 levels.

When examining Bitcoin’s daily technical chart, the resistance above the $31,000 level emerges as a significant factor. Whether BTC surpasses or fails to break this resistance can play a critical role in determining its short-term movement.

Medium-Term BTC Analysis

Daily BTC/USD Price Chart

Daily BTC/USD Price Chart

When examining Bitcoin’s daily technical chart, it can be seen that it is moving in an important resistance zone above the $31,000 level. If the BTC price can surpass the $31,000 resistance with daily candlestick closures, it can sustain its upward movement towards the $32,400 levels.

However, if the Bitcoin price fails to achieve daily candlestick closures above the $31,000 level, it could extend its downward movement towards the $28,600 levels. Today, Bitcoin continued its rise with strong buyer demand, reaching levels of $31,170.

If the Bitcoin price fails to break the $31,000 resistance, the $29,600 level stands out as a downward target. If BTC achieves daily candlestick closures below $29,600, it could extend its downward movement towards the $28,600 levels.

Can Bitcoin Rise to $32,000?

2-Hour BTC/USD Price Chart

2-Hour BTC/USD Price Chart

When examining Bitcoin’s short-term technical chart, it can be seen that it is moving above the previously mentioned $30,850 resistance. If the BTC price remains above the $30,850 level, it can sustain its rise towards the $31,440 levels.

If the Bitcoin price achieves 2-hour candlestick closures above the $31,440 level, it can continue its next upward movement towards the $32,000 levels. However, if the BTC price achieves 2-hour candlestick closures below the $30,850 level, it could experience a downward movement towards the $29,500 support.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Merlin Chain’s Mainnet Success: Over $1.97 Billion TVL and Strong Bitcoin Ordinals Ecosystem Involvement

Merlin Chain emerges as a formidable player in the Bitcoin second-layer ecosystem, boasting over $1.97 billion in TVL shortly after its mainnet launch, signaling strong market confidence and adoption.

Block’s Bitcoin Strategy Yields $207M in Gains, Spurs 90% Profit Surge

Block, Inc. reports a spectacular $207 million gain from its Bitcoin investments last quarter, reflecting a 90% increase in Bitcoin gross profit and propelling its stock to soar in after-hours trading.

Kraken Challenges SEC: A Standoff Over Crypto Regulation and Political Free Speech

Kraken's legal battle with the SEC highlights the ongoing tension between crypto exchanges and regulatory authorities, underscoring critical questions about the future of digital assets in the United States.

Starknet STRK Token Price Soars as StarkWare Adjusts Unlock Schedule Amid Community Feedback

Following StarkWare's response to community backlash by revising the STRK token unlock schedule, Starknet sees a price surge, highlighting the impact of tokenomics on crypto valuations.

Reddit Announces IPO with a Crypto Twist: Bitcoin, Ethereum, and MATIC Holdings Revealed

In a significant move towards becoming a publicly traded company, Reddit reveals its cryptocurrency holdings, including Bitcoin and Ethereum, in its latest SEC filing, marking a notable fusion of social media and blockchain technology.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Merlin Chain’s Mainnet Success: Over $1.97 Billion TVL and Strong Bitcoin Ordinals Ecosystem Involvement

Merlin Chain emerges as a formidable player in the Bitcoin second-layer ecosystem, boasting over $1.97 billion in TVL shortly after its mainnet launch, signaling strong market confidence and adoption.

Block’s Bitcoin Strategy Yields $207M in Gains, Spurs 90% Profit Surge

Block, Inc. reports a spectacular $207 million gain from its Bitcoin investments last quarter, reflecting a 90% increase in Bitcoin gross profit and propelling its stock to soar in after-hours trading.

Reddit Announces IPO with a Crypto Twist: Bitcoin, Ethereum, and MATIC Holdings Revealed

In a significant move towards becoming a publicly traded company, Reddit reveals its cryptocurrency holdings, including Bitcoin and Ethereum, in its latest SEC filing, marking a notable fusion of social media and blockchain technology.