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

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.

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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