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Bitcoin (BTC) Price Analysis for January 19

Thu, 01/19/2023 - 19:00
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Denys Serhiichuk
How great are chances to see rise of Bitcoin (BTC) by end of week?
Bitcoin (BTC) Price Analysis for January 19
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The correction might not have ended yet, according to the CoinMarketCap ranking.

Top 10 coins by CoinMarketCap


The rate of Bitcoin (BTC) has declined by 3% since yesterday.

BTC/USD chart by TradingView

On the hourly chart, the price of Bitcoin (BTC) is trading in a narrow range between the support at $20,694 and the resistance at $20,865. If the daily bar closes near the upper line, the breakout may lead to the growth of $21,000 tomorrow.

BTC/USD chart by TradingView

On the daily time frame, the situation is less positive as the price is located closer to the support than to the resistance, which means that bears are more powerful than bulls at the moment.

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Thus, the rate is below the psychological mark of $21,000, confirming sellers' power. In this case, the more likely scenario is the breakout of the support at $20,549, followed by a decrease to the $20,000 zone.

BTC/USD chart by TradingView

On the weekly chart, the price of Bitcoin (BTC) has made a false breakout of the recent local peak at $21,247. If buyers cannot restore the initiative by the end of the week and the rate remains below $21,000, the correction may continue to the 19,500-$20,000 zone.

Bitcoin is trading at $20,804 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at

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