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Bitcoin (BTC) Price Analysis for January 24

Tue, 01/24/2023 - 15:36
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Denys Serhiichuk
How much time does Bitcoin (BTC) need to get to $25,000?
Bitcoin (BTC) Price Analysis for January 24
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The cryptocurrency market might not have decided which way to move as some coins are in the red zone, while others keep rising.

Top 10 coins by CoinMarketCap


The price of Bitcoin (BTC) keeps rising, going up by 0.14% over the last 24 hours.

BTC/USD chart by TradingView

On the hourly chart, the price of Bitcoin (BTC) has bounced off the support level at $22,782, which means that bulls will not give so easily. If the candle fixes above that mark, the rise may continue to the interim point of $23,000 tomorrow.

BTC/USD chart by TradingView

The price is stuck in the channel on the daily time frame, between the support at $22,442 and the resistance at $23,362. If buyers cannot recover the price above the $23,000 zone soon, there are chances to see the fall to $22,000 until the end of the month.

BTC/USD chart by TradingView

From the midterm point of view, one should focus on the $22,781 level. If the bar closes above it, that means that bulls are ready to keep the growth going to the $24,000-$25,000 zone.

Bitcoin is trading at $22,834 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