Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»Bitcoin Price at a Decisive Moment, Key Levels to Watch
EXCHANGE NEWS

Bitcoin Price at a Decisive Moment, Key Levels to Watch

By Crypto FlexsJanuary 25, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Price at a Decisive Moment, Key Levels to Watch
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price began an upward correction at the $38,500 support zone. BTC could gain bullish momentum if it passes the $40,500 resistance zone.

  • Bitcoin price is attempting to recover from the $38,500 support zone.
  • The price is trading below $40,000 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bearish trendline forming with resistance near $40,400.
  • The pair may struggle to recover above the $40,400 and $40,500 resistance levels.

Bitcoin price recovery attempt

Bitcoin price extended its decline below the $40,000 support level. BTC surged below the $49,200 level to test the $38,500 support area. A new weekly low was formed near $38,518 and the price began an upward correction.

There was a recovery above the $39,200 and $39,500 levels. However, Bitcoin is currently trading below $40,000 and the 100-hour simple moving average.

Immediate resistance is near the $40,400 level. The hourly chart of the BTC/USD pair also has a major bearish trend line forming with resistance near $40,400. The trend line is close to the 50% Fib retracement level of the bearish wave from the $42,260 swing high to the $38,518 low.

The next major resistance could be $40,500, above which the price could rise to test $40,850. The $42,260 swing high to $38,518 low is close to the 61.8% Fib retracement level of the bearish wave.

Source: TradingView.com BTCUSD

A clear break above the $40,850 resistance may lead the price to move towards the $41,500 resistance. The next resistance is currently forming near $42,000. The price could go higher beyond the $42,000 level. The next major resistance level is $42,500.

Another drop in BTC?

If Bitcoin fails to rise above the $40,400 resistance zone, another decline could begin. Immediate support for the downside is near the $39,400 level.

The next major support is at $38,500. The price could gain bearish momentum if it closes below $38,500. If indicated, the price may reach the $37,000 support level in the near future.

Technical indicators:

Hourly MACD – MACD is currently losing pace in bearish territory.

Hourly Relative Strength Index (RSI) – The RSI for BTC/USD is now above the 50 level.

Key support levels – $39,400, then $38,500.

Key resistance levels – $40,400, $40,500 and $40,850.

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Hyperliquid’s USDH Stablecoin is broadcast live at an early transaction volume of $ 2M or more.

September 24, 2025

The fullback of $ 16 of the chain link (link) can set a parabolic price rally.

September 18, 2025

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Linea Price Spikes 14% as Swift selects Linea for the pilot

September 27, 2025

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Linea Price Spikes 14% as Swift selects Linea for the pilot

September 27, 2025

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025
Most Popular

JYDS Continues Presale Expansion: Secures Third CEX Listing on DigiFinex with New Features and Partnerships

April 13, 2024

What is a Bitcoin ETF? And how investors make money with these investment vehicles.

February 3, 2024

AI misinformation could shake up the 2024 election. Here’s how OpenAI plans to fight back.

January 16, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.