Logo
  • home
  • cryptocurrencies
  • bitcoin
  • ethereum
  • dogecoin
  • domains
  • contact

Bitcoin (BTC) Price On The Verge Of Bullish Breakout, Buyers Seek $47,000

Rio De Janeiro Plans To Buy Bitcoin With City’s 1% Reserve; Tax Discounts Also To Be Offered

The week ended on Friday, BTC buyers find some respite after the digital coin locked-in gains around 9%. BTC moved in sync with the US tech stocks, which witnesses some late bounce back on Friday. However, overall investors lost money since the downside rally begins in November.

  • BTC ended the second week of January with more than 9% gains.
  • The Momentum oscillators favor bullish bias.
  • BTC exhibits a strong correlation with high-risk technology stocks.

According to Matthew Sigel, head of digital assets research at VanEck, Bitcoin is moving in tandem with NASDAQ and other technology stocks. The selling pressure builds up in both as the US Federal Reserve turns more hawkish in its policy.

Source: Tradingview

A technical bounce back towards $45,000 is visible on charts On the four-hour chart, after witnessing a free fall from the highs of $52,129 on December 28 BTC shows resilience near $40K. The price consolidates in the range before breakout on Wednesday above $42K.

BTC is trading near the crucial 20 and 50 SMA with the formation of a “Doji candlestick”, which indicates traders need some confirmation before continuing the upside momentum.

A Bullish reversal pattern “Cup Handle” is formed, which makes the bulls cheerful. A decisive close above the $43,500 will fuel the upside rally, which could find the ultimate target near $47K. The MACD(Moving Average Convergence Divergence) trades above the midline supporting the bullish argument for the pair. Furthermore, the Daily Relative Strength Index (RSI) reads at 52. On Friday the market cap of the world’s largest cryptocurrency rose to $815,187,367,919.

On the flip side, If the pair breaks below $41k then it could invalidate the upside theses. Moving further, the price could re-enter in the consolidation zone of $40K-$42K. A break below $40K would drag the prices towards the lows last seen in August around $37K.

 

The post Bitcoin (BTC) Price On The Verge Of Bullish Breakout, Buyers Seek $47,000 appeared first on CoinGape.


Go to source (full text)

January 15, 2022   Rekha chauhan
coingape.com Analysis, Bitcoin, Bitcoin (BTC), bitcoin news, Blockchain, BTCBRL, BTCBUSD, BTCDAI, BTCEUR, BTCGBP, BTCJPY, BTCKRW, BTCMXN, BTCNGN, BTCPAX, BTCRUB, BTCTRY, BTCTUSD, BTCUSD, BTCUSDC, BTCUSDT, BTCXRP, BTCZAR

Related Posts

  • How Bitcoin’s [BTC] consolidation phase can yield profits for traders
    How Bitcoin’s [BTC] consolidation phase can yield profits for traders
  • Are Terra developers migrating to AVAX, SOL, MATIC & ADA? The metrics say…
    Are Terra developers migrating to AVAX, SOL, MATIC & ADA? The metrics say…
  • Price analysis 5/20: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
    Price analysis 5/20: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
×

  • Will Wilder World, And High Street World Help Metaverse Rise 2X By Q2 Of 2022?
  • Chainalysis Report Claims Criminal Usage Of Cryptocurrency Will Decrease In 2022

Latest News

  • Crypto Crash Unlikely to Hurt US Economy: Goldman Sachs
  • Digital biomarkers are healthcare’s next frontier
  • Amazon’s upcoming tablets will include a more modern Fire OS 8
  • How Bitcoin’s [BTC] consolidation phase can yield profits for traders
  • How to Help Convince Tech Companies to Make a Smaller Smartphone
  • Microsoft is testing Android 12.1 and other improvements for Windows 11
  • Watch Live as Boeing’s Starliner Capsule Attempts First ISS Docking
  • A third straight week of tech layoffs in the books
  • Altcoin prices briefly rebounded, but derivatives metrics predict worsening conditions
  • New Pixel Watch Specs Report Should Bring Your Excitement Back
  • ‘The Great DeFi unwind’ sees Total Value Locked plummet to 10-month lows
  • A Mononykus Hunts In ‘Prehistoric Planet’
  • How to Read a Whiskey Label Without Embarrassing Yourself
  • Halo’s first season is a Flood of bold bets and tangled plot points
  • The Most Expensive NFTs Ever Purchased

Domains For Sale

cryptotrading.ooo

cryptotrade.ooo

cryptodatas.com

cryptos.capital

cryptos.events

cryptos.ventures

cryptos.wtf

ooo.capital

ooo.loans

ooo.tours

property.bet

cryptocoin.ooo

cryptocoins.ooo

assets.bet

cryptoexchange.ooo

cryptomania.world

cryptoinvest.ooo

cryptos.media

cryptos.foundation

cryptos.fm

cryptobank.today

ooo.credit

ooo.finance

ooo.domains

ooo.health

cryptos.trade

ooo.world

-
$ 29,362.002.19%

Cryptocurrency Converter

Cryptocurrencies Price Live

Bitcoin Price Live

Ethereum Price Live

Dogecoin Price Live

Shiba Inu Price Live

XRP Price Live

Tether Price Live

Bitcoin Cash Price Live

Cardano Price Live

Bitcoin SV Price Live

Litecoin Price Live

Crypto.com Coin Price Live

Binance Coin Price Live

EOS Price Live

ChainLink Price Live

Buy Crypto Domains

Buy Crypto Domains
Find More > Go to Homepage
© 1010.team
Trusted news about IT, New Technologies, Internet Business, Startups, Cryptocurrency, Cybersecurity
bitcoin
Bitcoin (BTC) $ 29,362.00 2.19%
ethereum
Ethereum (ETH) $ 1,971.28 1.33%
tether
Tether (USDT) $ 1.00 0.06%
usd-coin
USD Coin (USDC) $ 1.00 0.30%
bnb
BNB (BNB) $ 302.74 0.62%
xrp
XRP (XRP) $ 0.412194 1.50%
binance-usd
Binance USD (BUSD) $ 1.01 0.52%
cardano
Cardano (ADA) $ 0.51392 2.59%
solana
Solana (SOL) $ 50.24 2.92%
dogecoin
Dogecoin (DOGE) $ 0.084415 2.55%