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Bitcoin (BTC) Price Analysis for January 22

Sun, 01/22/2023 - 19:00
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Denys Serhiichuk
How big are chances to see further growth of Bitcoin (BTC) next week?
Bitcoin (BTC) Price Analysis for January 22
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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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Most of the coins might need a correction before the next wave of growth.

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Even though the price of Bitcoin (BTC) has dropped by 0.32% since yesterday, the rate has grown by more than 10% over the last week.

BTC/USD chart by TradingView

On the local chart, the price of Bitcoin (BTC) is in the narrow range between the support at $22,702 and the resistance at $22,969. At the moment, the rate is on the way to the upper line, which means that bulls are not going to give up.

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In case of a breakout, the growth may continue to the $23,100-$23,200 zone.

BTC/USD chart by TradingView

On the bigger time frame, the situation is also positive as the price has bounced back from the recently formed support level of $22,750. If closure happens near the important $23,000 zone, the upward move can continue to $23,362.

BTC/USD chart by TradingView

From the midterm point of view, the weekly candle is about to close above the $22,781 mark, which means that Bitcoin (BTC) remains bullish. In this regard, the energy might be enough for a move to the next resistance area of around $25,000.

Bitcoin is trading at $22,912 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