The cryptocurrency market is seeing a significant downturn during the Asian session, with Bitcoin breaking through a key barrier level of $16,750.
Despite the global crypto market’s worth rising by 0.54% to $809.35 billion the day before to start the new year, the major cryptocurrencies were trading in the bullish early on January 4. The total volume of the cryptocurrency market over the previous day rose by 12.75% to $26.64 billion.
DeFi’s 24-hour volume totals $1.92 billion, or 7.20% of the total 24-hour volume of the crypto market. Currently, the combined volume of all stable currencies is $24.85 billion, or 93.30% of the total 24-hour volume of the cryptocurrency market.
Today Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 16,865.49 |
Bitcoin Price Prediction
The price of one bitcoin is at $16,857, and $15 billion worth of transactions had taken place in the previous day. Technically, Bitcoin has broken through a significant resistance level of $16,785 and is currently moving north toward the following resistance level of $16,950.
A bullish engulfing candle has developed on the 4-hour timeframe for Bitcoin, suggesting the potential for a robust uptrend continuation. BTC might reach the $17,250 barrier if the price breaks through $16,950.
The immediate support level for Bitcoin is at $16,800, and a break below it may push the price of BTC as low as $16,500. Keep a watch on $16,750 because a close above this level might signal a recovery in the price of BTC. The RSI and MACD indicators are showing a bullish trend.
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