BTC price maintains its upward trajectory as it revisits $23K

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Bitcoin Continues Its Horizontal Trend As It Revisits $23K – Jan 23, 2023

The largest cryptocurrency is still trading in the uptrend zone as it revisits $23K. Buyers have tried to break the $23,000 hurdle twice without success. BTC/USD was rejected twice, forcing the cryptocurrency to move sideways below the resistance level. The high of $25,212 is the next stop for Bitcoin on the climb.

Bitcoin Price Stats Data:
•Bitcoin price now – $22,679.43
• Bitcoin Market Cap: $437,325,437,116
•Bitcoin circulating supply – 19,271,812 BTC
•Total Bitcoin Supply – $476,441,890,599
• Bitcoin Coinmarketcap Ranking – #1

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

Bitcoin (BTC) has returned to a flat trend as buyers were unable to sustain momentum above the $23,000 level. The resistance level was broken on Jan 21, but Bitcoin experienced selling pressure at the high of $23,353. Since January 21, the Bitcoin price has resumed its range-bound behavior. The Bitcoin asset has been forced to fluctuate in price between $22,300 and $23,000 over the past five days. BTC price today hit a low of $22,334 as the bulls bought the dips. If the current support level for Bitcoin holds, the range-bound trend will continue. The resistance level will be tested once more as the market continues to rise. On the upside, Bitcoin will resume its climb to a high of $25,212 if buyers manage to break through and sustain positive momentum above the most recent high. The reverse is also true – if the bears breach the current support, Bitcoin will drop above the $21,000 support.

Bitcoin B logo shows the tallest structure in Berlin in Germany

On January 21, Berliners were able to see Bitcoin B projected on the Berliner Fernsehturm tower. Last weekend, the Bitcoin (BTC) logo lit up the Berlin night sky by adorning the tallest building in Germany with a huge orange B. On January 21, the Berliner Fernsehturm, also known as the TV Tower, was lit up with the Bitcoin logo. German Bitcoin users posted images and videos of the lighting on social media and Twitter, where they were later shared by well-known Bitcoin Twitter accounts. German bitcoiner Tilo, the creator of the B, described how he first came up with the concept: “We just want to draw attention to Bitcoin! We are fans of Guerrilla actions like this and we will continue on the right path.”

Bitcoin Price Prediction For Today Jan 25: BTC Price Maintains Its Upward Trajectory As It Revisits $23K — BTC/USD – 4 hour chart

Also, BTC price is rising again after a brief reversal above the $22,334 support level when it revisits $23K. Bitcoin pulled back below the 21-day SMA line on the 4-hour chart, though it pulled back above the 50-day SMA line. The consequence is that Bitcoin will be forced to range-bound between the moving average lines for a few days. When the moving average lines cross, the cryptocurrency asset will trend.

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