This website uses cookies to ensure you get the best experience on our website
CRYPTOALTUM IS EVOLVING! EXCITING CHANGES COMING SOON 

Technical Analysis for BTCUSD for 18th January 2023

Bitcoin Slowing Down, May Pierce $21.5k in a Buy Trend Continuation



Past Performance of BTC

Bitcoin is pumping, evident in the daily chart. As of writing, BTC is up double digits in the last trading week, and the coin is firm above $20. At this pace, the coin may not only close above $21.5k, the immediate resistance line, but edge past $23k, confirming the bulls of mid-last week. Per the current candlestick formation, every low above $20k may offer entries for bulls.


Bitcoin Technical Analysis

The path of least resistance is northwards. Because BTC buyers are confident and the current momentum solid, there could be more opportunities to buy the dips at spot rates. Note that the immediate support is at $20k. Since BTC bars band along the upper BB and inches from breaking above $21.5k, aggressive traders can search for entries to double down. This preview will be null should BTC fall below $20k, marking Jan. 14 lows.


What to Expect from BTC

There could be more gains in the next few weeks. Although a contraction is inevitable, the immediate critical support lines lie at $18.5k and $20k, respectively. Provided prices are above these accumulation zones, traders may ramp up, targeting $23k, or better in the near term.


Resistance level to watch: $21.5k

Support level to watch: $20k


Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Amsa LLC (CryptoAltum) 2020