BTC Price Bounces Below $23K

Bitcoin Price Prediction for Today, January 23: BTC Price Bounces below $23K


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Bitcoin Resumes Trading in a Narrow Range as BTC Price Bounces Below $23K – January 23, 2022

BTC/USD is swaying under the $23,000 resistance degree as BTC worth bounces under $23K. In the final 48 hours, the bullish momentum has slowed. Given that Bitcoin is closely overbought, there’s a probability that the value will reverse. Bitcoin could expertise a decline to the low above the $21,000 help.

Bitcoin Price Statistics Data:•Bitcoin worth now – $22,732.00•Bitcoin market cap – $438,151,879,821•Bitcoin circulating provide – 19,269,912 BTC•Bitcoin complete provide – $477,394,241,943•Bitcoin Coinmarketcap rating – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Following the current worth rally, Bitcoin (BTC) is at the moment bouncing under the $23,000 resistance degree. After rising above the $23,000 resistance degree, the bullish momentum has slowed. On the upside, consumers are anticipated to select up velocity and begin climbing towards the $25,212 excessive. As the market has reached its bullish exhaustion, additional upward motion is unlikely. The BTC worth will retrace to the prior low above the $21,000 help to start out an uptrend. The worth of Bitcoin has just lately made a string of upper highs and better lows. However, the BTC worth is above degree 84 of the day by day Stochastic indicating that the market has reached the overbought area.

El Salvador Passes a Historic Crypto Law That Opens the Door for Bitcoin-Backed Bonds

In addition, the “Digital Asset Issuance” laws will set up a authorized framework and a regulatory physique for all digital property. El Salvador just lately handed historic laws that establishes the authorized basis for a Bitcoin-backed bond, dubbed the “Volcano Bond,” that can be used to pay down the nation’s debt and finance the event of its envisioned “Bitcoin City.” With 62 votes in favor and 16 votes towards, the invoice was authorised on Jan. 11. It will change into a regulation as soon as President Bukele ratifies it. On January 11, the National Bitcoin Office of El Salvador tweeted in regards to the invoice’s passage and stated it will quickly begin issuing the bonds.

BTC/USD – 4 Hour Chart

Bitcoin is at the moment steady above the $22,700 help as BTC worth bounces under $23K. Buyers have been turned off as they tried to push Bitcoin to a excessive of $23,353.Since January 21, the cryptocurrency asset has traded in a slender vary between a help degree of $22,700 and a excessive of $23,000. On the draw back, the promoting strain will decide up once more till the $21,000 low if Bitcoin retraces under the $22,700 help.

During this time, the value of Bitcoin continued to rise, reaching a excessive of $23,353. Similarly, different cryptocurrencies have continued to recuperate.Traders can profit from the MEMEG coin as a result of it offers excessive charges of return on funding. The Play-to-Earn guild with the quickest progress this 12 months is Meta Masters Guild (MEMAG). It is prone to outperform all different Web3 cell gaming guilds. It is possible to create intriguing and entertaining video video games that make the most of NFTs. Members of the neighborhood are rewarded for his or her investments and hypothesis there. The MEMAG presale is ongoing and near $1.5 million has been raised up to now

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