Bitcoin Price Prediction for Today, January 24: BTC/USD Reclaims $23,000 Level

The Bitcoin price prediction revisits the resistance level of $23,000 as the king coin targets a $24,000 high.

Bitcoin Prediction Statistics Data:

• Bitcoin price now – $23,012
• Bitcoin market cap – $443.7 billion
• Bitcoin circulating supply – 19.2 million
• Bitcoin total supply – 19.2 million
• Bitcoin Coinmarketcap ranking – #1

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $27,000, $28,000, $29,000

Support Levels: $20,000, $19,000, $18,000

BTC/USD is recovering towards the upside as the first digital asset touches the resistance level of $23,165. For the past few days, the Bitcoin price has been facing the upside to the extent of crossing above the upper boundary of the channel.

Bitcoin Price Prediction: Would BTC Increase the Upward Movement?

At the moment, traders could see that the Bitcoin price is heading toward the north as the 9-day MA trend line is moving above the 21-day MA preparing to create more upsides. However, the technical indicator Relative Strength Index (14) is hovering within the overbought region in an attempt to retain the bullish movement.

Meanwhile, a clear break above the resistance level of $24,000 could set the pace for a larger increase to $27,000, $28,000, and $29,000 resistance levels. Moreover, should the Bitcoin price fail to clear the resistance level of $23,000, it could experience a new decline towards the lower boundary of the channel. Therefore, if there is a downside break below the 21-day moving average, the price could hit the support levels of $20,000, $19,000, and $18,000.

BTC/USD Medium-term Trend: Ranging (4H Chart)

According to the 4-hour chart, BTC/USD keeps moving sideways as the market shows a sign of a bullish movement. However, following the recent rebound at $22,783 which is now a key support level, the king coin is expected to stay above the 9-day and 21-day moving averages as any bearish movement below this barrier could locate the support level at $21,500 and below.

However, considering the recent sharp rebound, the Bitcoin price may continue the bullish movement above the resistance level of $23,000. A climb above this level may further push the king coin to the resistance level of $24,500 and above. As it is now, it seems the bulls may return to the market as the Relative Strength Index (14) remains above the 60-level.

Nonetheless, Meta Masters Guild (MEMAG) is the most rapidly growing Play-to-Earn guild of this year. Therefore, it is going to be the biggest mobile gaming guild in Web3. Fun and interesting games, which are compatible with NFTs, are created. And there, community members are rewarded as they speculate and also invest. The MEMAG presale is ongoing and close to $1.5 million has been raised so far.

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