BTC Price Stabilizes Above $21K

Bitcoin Is In A Tight Range As BTC Price Stabilizes Above $21K – Jan 20, 2022

BTC/USD has been trading in a tight range between $20,600 and $21,500 as BTC price stabilizes above $21K. Buyers have been working hard for the past week to keep the price above $21,500. The bottom line is that the sellers are still defending the $21,500 barrier level. Also, the overbought area of ​​the market is where Bitcoin is restricted. However, Bitcoin can go higher if the price returns above the $21,000 support line.

Bitcoin Price Stats Data:
•Bitcoin price now – $21,095.63
• Bitcoin Market Cap: $406,448,733,357
•Bitcoin circulating supply – 19,267,218 BTC
•Total Bitcoin Supply – $443,002,378,470
• Bitcoin Coinmarketcap Ranking – #1

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

Bitcoin (BTC) has regained bullish momentum as it moves above the $21,000 support level. Attempting to break the $21,500 resistance, BTC price has been rejected. The buyers are determined to start another rally. Bitcoin rose as high as $21,639 yesterday before falling. The sellers defended the resistance level. If the $21,500 resistance is broken, the bullish surge will resume in its second phase. Bitcoin’s second phase is expected to see price spikes between $22,781 and $25,212. Conversely, if the buyers are unable to hold the price above the resistance level, the BTC price will drop and retrace some of its previous gains. The sellers will sink Bitcoin to its all-time low of $18,480. If the breakthrough level is broken, the Bitcoin asset will decline much more. However, Bitcoin will continue to fall until it reaches the limit region between $16,000 and $18,000. One Bitcoin is worth $21,095.63 at the time of writing.

Bitcoin’s ‘Ridiculous’ 14-Day Winning Streak Comes to an End

The price drop from the previous day ended bitcoin’s multi-day winning streak, which was on pace to surpass a record that had stood for nearly ten years. After forming its first red candle on Jan. 18, the cryptocurrency’s two-week winning streak finally came to an end. The longest stretch in history, 15 days of positive price movement in November 2013, was close to being matched or even surpassed by BTC the day before. Although the record was not broken, Bitcoin set a new record for the longest winning streak since 2013 during a “ridiculous” lead-up, according to some Twitter pundits.

Also, Bitcoin is retesting the resistance level as BTC price stabilizes above $21K. After the rejection of January 18, the price of BTC has started a new rise. The rally, however, stalled above the $21,000 support. However, since Bitcoin is firmly overbought, a further rally is unlikely.

However, the bullish momentum has slowed as Bitcoin tries to break out of the most recent high. Bitcoin has overcome the original barrier, creating new opportunities. The recent rise of Bitcoin has affected other cryptocurrencies. Traders can use the MEMEG currency, as it provides a substantial return on investments. The fastest growing Play-to-Earn guild this year is the Meta Masters Guild (MEMAG). It is likely to outperform all other Web3 mobile gaming guilds. It is possible to create intriguing and entertaining video games using NFTs. Community members are rewarded for their investments and speculations there. The MEMAG pre-sale is ongoing and close to $1 million has been raised so far.

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