{"id":281359,"date":"2021-01-18T16:45:07","date_gmt":"2021-01-18T21:45:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=281359"},"modified":"2021-01-18T16:45:07","modified_gmt":"2021-01-18T21:45:07","slug":"btc-usd-long-term-trend-bullish-daily-chart-108","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/btc-usd-long-term-trend-bullish-daily-chart-108","title":{"rendered":"Bitcoin Price Analysis: BTC\/USD Needs to Reclaim $40,000; Bullish Momentum May Fade Away"},"content":{"rendered":"

Bitcoin Price Analysis (BTC) \u2013 January 18<\/strong><\/p>\n

The Bitcoin price is holding in the $36,000 level and it may likely surge into the $38,000 level before plunging again.<\/p>\n

BTC\/USD Long-term Trend: Bullish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $40,000, $42,000, $44,000<\/p>\n

Support Levels: $31,000, $29,000, $27,000<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

BTC\/USD<\/a> market keeps trading at the upside as the price stays within the 9-day and 21-day moving averages. In the early hours of today, bulls break above the $37,000 resistance level and then pulled back as the price remains within the moving averages. Moreover, as long as the technical indicator RSI (14) remains above the 60-level, there is likely to be a downward correction that may come to play as soon as the signal begins to move below this level.<\/p>\n

What to Expect from Bitcoin (BTC)<\/h4>\n

BTC\/USD may likely pullback and retraces to the support level of $35,000. This could increase the chances of a rally above $40,500. In addition, if the price pulls back below the 21-day moving average, this is an indication that Bitcoin (BTC) is getting weaker. Meanwhile, the technical indicator RSI (14) is currently at around 60-level, which indicates that the market is on the upside.<\/p>\n

Expectantly, to sustain the upward movement, the bulls will have to break out towards the channel at a $39,300 resistance level. Further bullish movement may reach the potential resistance levels at $40,000, $42,000, and $44,000 respectively. While $31,000, $29,000, and $27,000 will serve as the major support levels, making room for the Bitcoin price to fall even further.<\/p>\n

BTC\/USD Medium-term Trend: Ranging (4H Chart)<\/h4>\n

BTC\/USD trades within the range of $33,800 to $37,500. Nevertheless, Bitcoin has not yet slipped below $35,000 and is still in the loop of making a bounce back. BTC price hovers around $36,058 and may take time to persistently trade above $37,000. The upward movement is facing hurdles near the $39,000 and $40,000 resistance levels.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

On the downside, immediate support is below the lower boundary of the channel as the main support is at the $34,000 level. The price might slide sharply below $33,500 which may likely test the main support at the $32,500 level. Technically, Bitcoin is poised for more losses in the near-term as the RSI (14) is currently below the 50-level, indicating a sideways movement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin Price Analysis (BTC) \u2013 January 18 The Bitcoin price is holding in the $36,000 level and it may likely surge into the $38,000 level […]<\/a><\/div>","protected":false},"author":1742,"featured_media":281360,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"class_list":["post-281359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Analysis: BTC\/USD Needs to Reclaim $40,000; Bullish Momentum May Fade Away<\/title>\n<meta name=\"description\" content=\"The Bitcoin price is holding in the $36,000 level and it may likely surge into the $38,000 level before plunging again.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/281359\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Analysis: BTC\/USD Needs to Reclaim $40,000; 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