Home Market Zoom Price analysis 1/29: BTC

Price analysis 1/29: BTC

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Bitcoin faces severe resistance in the overhead zone between $ 37,332.70 and $ 39,600. This suggests that bears do not want to let go of their benefits and are selling at rallies.
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The bear attempts to resume the downtrend by pulling the BTC / USDT pair below $ 32,917.17. If they succeed, the next stop could be $ 30,000.
Alternatively, a price increase from the current level above $ 37,614 suggests a lower level of accumulation.
The buyer then tries to push the price above the 20-day exponential moving average (EMA) ($ 39,714) and challenge the 50-day simple moving average (SMA) ($ 44,94.44). Breaking and closing beyond this resistance indicates that the downtrend may have ended.

Disclaimer: Cryptocurrency investment is subject to high market risk. AtoZCrypto.org is not responsible for any of your trading losses. The opinions and statements made above should not be considered financial advice.

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