Bitcoin Price Prediction: BTC/USD Falls Below $33,000 in Sudden Sell-Off ByAzeez MustaphaPRO INVESTOR Updated: 25 January 2022 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – January 24 The Bitcoin price prediction begins another break down and the price could hit $30,000 support as Bitcoin price faces a fresh round of downtrend. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $40,000, $42,000, $44,000 Support Levels: $29,000, $27,000, $25,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD resumes back into a selling mode, after a slight recovery yesterday. Early this morning, the coin opened the trade around $36,275.28 and has been in retreat ever since. At the time of writing, BTC/USD is trading at $34,114, down 5.97% below the 9-day and 21-day moving averages. Bitcoin continues to narrow down, and it is likely to cross below the lower boundary of the channel. Bitcoin Price Prediction: Bitcoin (BTC) Ready to Relax at the Downside At the time of writing, the Bitcoin price is struggling to hold a couple of important supports above $34,000. However, the price is likely to continue lower below the channel. Therefore, if there is a downside break below this barrier, the price could visit the $30,000 support level. The bears are gaining momentum and if the price clears the above-mentioned support, there is a risk of a sharp decline to another critical support level. In addition, the market is deciding around the lower boundary of the channel, where the buyers are anticipating a rebound. Meanwhile, the $40,000, $42,000, and $44,000 may further surface as potential resistance levels should the $38,000 level play out. However, a strong bearish movement may bring the Bitcoin price to $29,000, $27,000, and $25,000 supports as the Relative Strength Index (14) is below 25-level within the oversold region. BTC/USD Medium – Term Trend: Bearish (4H Chart) Following the 4-hour chart, Bitcoin bulls are now pushing the price above its previous support level that existed around $34,000. Although, the Bitcoin price has not yet rise above $35,000 but it’s still in the loop of making a bounce back according to the technical indicator Relative Strength index (14) which is recovering from the oversold region. BTCUSD – 4 Hour Chart Therefore, the Bitcoin price hovers around $34,428 and may take time to persistently trade above $35,000. Nevertheless, BTC/USD is still below the 9-day and 21-day moving averages and any upward movement above this barrier may likely push the price near the resistance level of $36,000 and above while the immediate support lies at $32,500 and below. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 68% of retail investor accounts lose money when trading CFDs with this provider Read more: How to buy Bitcoin How to buy Cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage