BTC Price Declines With Strong Rejection To $24K

Bitcoin Takes Significant Step Forward, But With Strong Rejection To $24K – Jan 26, 2023

BTC/USD is still trying to break above the $23,000 resistance, but suffers a strong rejection at $24,000. Bitcoin took a big step forward on Jan 25 when it surged to $23,812 but found resistance at the $24,000 high. The next stop for Bitcoin is the high of $25,212, but one more hurdle must be cleared first. That is the $24,000 resistance level. Today, Bitcoin has broken below the $23,000 resistance level.

Bitcoin Price Stats Data:
•Bitcoin price now – $22,803.82
• Bitcoin Market Cap: $439,523,914,681
•Bitcoin circulating supply – 19,273,800 BTC
•Total Bitcoin supply – $478,900,142,478
• Bitcoin Coinmarketcap Ranking – #1

Resistance levels: $50,000, $55,000, $60,000
Support levels: $25,000, $20,000, $15,000

The cost of Bitcoin (BTC) has dipped back below the $23,000 resistance despite breaking the recent high. There are currently two hurdles that buyers must overcome. the hurdles at $23,000 and $24,000 in price. BTC price would have risen to a high of $25,212 if the buyers were successful in breaching the $24,000 resistance. The high of $23,812 marked the end of the uptrend. BTC/USD is once again trading in the range zone between the $22,300 and $23,000 price levels. The bottom line is that the selling pressure will build and reach the $21,000 support if the bears break below the $22,300 support. Similarly, if the buyers sustain the bullish momentum above the $23,000 support, the BTC price will continue to rise.

Despite Market Volatility, Elon Musk’s Tesla Holds His Bitcoin in Q4

The electric vehicle maker continued to hold onto its estimated 9,720 Bitcoin despite price drops towards the end of 2022, only losing $34 million on its investment. Tesla, an electric vehicle maker, refused to sell more Bitcoin in the second half of 2022 despite cutting its holdings by 75% in the first quarter. For the second quarter in a row, according to Tesla’s financials, it did not buy or sell any of its Bitcoin, as reported in its fourth-quarter earnings report on Jan. 25. This was true despite the significant market turmoil that followed the FTX crash in November and December.

Meanwhile, BTC price has dipped below the $23,000 resistance level, with a sharp rejection at $24,000. Bitcoin has been forced to range below the most recent high since January 20. Buyers are consolidating ahead of a potential breakout. On Jan. 25, the buyers came dangerously close to breaking the $24,000 resistance, but were stopped. On the shorter timescale, the Bitcoin price falls below the 21-day SMA but rises above the 50-day SMA. This suggests a few days of possible sideways movement.

Bitcoin Alternatives

However, the uptrend has resumed despite the most recent dip below the $23,000 barrier level. Other cryptocurrencies have continued to rise, just like Bitcoin. Due to its high rates of return on investment, the Meta Masters Guild (MEMAG) token benefits traders. This token is this year’s fastest growing Play-to-Earn guild. As a result, it will be the largest mobile game guild on Web3. It is possible to develop games that are entertaining and intriguing and that work with NFT. And there, members of the community receive rewards for their investments and speculations. Nearly $2 million has already been raised during the MEMAG pre-sale.

Meta Masters Guild – Play and earn cryptocurrency

• Innovative P2E NFT Game Library To Be Released In 2023
• Free to Play: no entry barriers
• Putting the fun back in Blockchain gaming
• In-game rewards, bets, NFTs
• Real world community of players and traders
• Round One of Token Sale Live Now – memag.io