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Bitcoin (BTC) Price Analysis for January 3

Tue, 01/03/2023 - 21:00
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Denys Serhiichuk
How great are chances to see rise of Bitcoin (BTC) in first week of year?
Bitcoin (BTC) Price Analysis for January 3
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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 market could not keep yesterday's trend going, and most of the coins are back to the red area.

Top coins by CoinMarketCap


Despite the fall of most of the altcoins, the rate of Bitcoin (BTC) is almost unchanged since yesterday.

BTC/USD chart by TradingView

On the daily chart, the price of Bitcoin (BTC) is trading near the local support level at $16,654 after its false breakout. If buyers cannot seize the initiative, the fall may lead to the test of the $16,500 zone shortly.

BTC/USD chart by TradingView

On the bigger time frame, Bitcoin (BTC) has failed to get to the resistance at $16,772. If the candle fixes below the mark of $16,600, the accumulated power may be enough for a move to the $16,500 zone.

XRP Price Analysis for January 2

Thus, the volume remains low, which means that bulls are not willing to buy BTC at current prices.

BTC/USD chart by TradingView

From the midterm point of view, it is too early to make any predictions as it is only Tuesday and the price can sharply rise or fall (or both) between now and Sunday. However, as the volume is going down, one should not expect either exponential growth or a drop. In this case, sideways trading in the narrow range of $16,400-$16,800 is the more likely scenario.

Bitcoin is trading at $16,636 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