Bitcoin Price Prediction for Today, January 28: BTC/USD Consolidates Around $23,000 Level ByAzeez MustaphaPRO INVESTOR Updated: 28 January 2023 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 The Bitcoin price prediction shows that BTC indicates bearish momentum as further upside got rejected within the channel. Bitcoin Prediction Statistics Data: Bitcoin price now – $23,027 Bitcoin market cap – $443.7 billion Bitcoin circulating supply – 19.2 million Bitcoin total supply – 19.2 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $27,000, $29,000, $31,000 Support Levels: $20,000, $18,000, $16,000 At the time of writing, BTC/USD is hovering at $23,027. A few hours ago, the Bitcoin price exchange hands below $23,196 to sustain the bearish price action. However, the current market movement is still sideways, and the daily chart shows that the formation of a bearish may likely come to play. Bitcoin Price Prediction: BTC May Head to the Downside Looking at the technical indicator, the Relative Strength Index (14) is moving within the overbought region as Bitcoin price prepares for the bearish movement. With the look of things, BTC/USD is likely to cross below the red line of the 9-day moving average. This could mean that the king coin may follow the downward movement as soon as the coin crosses below the 21-day moving average. In other words, recovery may not come easy but a sustainable move above the upper boundary of the channel may locate the potential resistance levels at $27,000, $29,000, and $31,000. Meanwhile, an increase in selling pressure across the market could force the Bitcoin price to follow a painful path which could locate the supports at $20,000, $18,000, and $16,000 respectively. BTC/USD Medium-term Trend: Ranging (4H Chart) Looking at the 4-hour chart, the Bitcoin price is currently moving within the 9-day and 21-day moving averages touching the low of $22,982 support. Looking at the chart, the Bitcoin price is not yet sure whether it could return to the bull market as the technical indicators keep ranging. However, if the price moves toward the north, higher resistance could be located at $25,000 and above. BTCUSD – 4-Hour Chart At the moment, as the technical indicator, Relative Strength Index (14) moves in the same direction above the 60-level, the support level of $21,500 and below may come to play. Moreover, BTC/USD is likely to fall more if the price crosses below the lower boundary of the channel. Bitcoin Alternatives The Bitcoin price is consolidating gains at the moment and might begin another increase towards $23,500 if bulls increase the buying pressure. On that note, there is another coin in the market that is giving high returns on investment, the Meta Masters Guild (MEMAG) token benefits traders. This token is this year’s Play-to-Earn guild with the fastest growth. As a result, it will be Web3’s largest mobile gaming guild. It is possible to develop games that are entertaining and intriguing and work with NFTs. And there, community members receive rewards for their investments and speculation. There has already been close to $2 million raised during the MEMAG presale. Fight Out (FGHT) - Newest Move to Earn Project Rating CertiK audited & CoinSniper KYC Verified Early Stage Presale Live Now Earn Free Crypto & Meet Fitness Goals LBank Labs Project Partnered with Transak, Block Media Staking Rewards & Bonuses Learn More Join Our Telegram channel to stay up to date on breaking news coverage