The global cryptocurrency market has been rather solid during the Asian trading day, with BTC maintaining around $23,000 and ETH returning above $1,550. Leading cryptocurrencies like Bitcoin and Ethereum are now trading within small price bands due to the lack of volatility as market players prepare for a busy week.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 23,268.60 |
Bitcoin Price Prediction
Now, Bitcoin is trading at roughly $23,000, with a $18 billion 24-hour trading volume and a 0.50% rise over the previous day. A breach below the $22,800 immediate support level for Bitcoin by the BTC/USD pair might potentially expose the price of BTC to the next support region at the $22,150 level.
A closure above this level might trigger an uptrend in BTC as Bitcoin has completed a 61.8% Fibonacci retracement in the 4-hour time frame at the $22,800 level.
On the upside, Bitcoin’s nearby $23,500 resistance level continues to act as a barrier. However, given that the BTC/USD pair has reached the oversold region, there is a chance that BTC may bounce back and above the resistance level at $23,500, which could push the price of the cryptocurrency to $24,250.
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