Bitcoin (BTC) Price Analysis for January 24


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

BTC/USD

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.

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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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