BTC Price Prediction: Today’s Bitcoin Price, 23rd Jan 2023

As Bitcoin and Ethereum prices continue to rise, cryptocurrency market volatility has reached historic levels. Investors are looking for a trustworthy approach to forecast these price swings in light of the Shiba Inu’s meteoric rise and the way it has taken the globe by storm.

During the European session, Shiba Inu rose noticeably, climbing by more than 20% to a high of $0.0000129. This enthusiasm, however, was brief as it quickly returned to its initial price of $0.000011.

Today’s Bitcoin Price

Bitcoin Price Prediction

Bitcoin is currently trading at $20,937, down 1.50% in the last 24 hours, with a $29 billion trade volume. The predicted value of Bitcoin has not changed since the initial projection on January 17th.

The digital currency failed to cross the $21,400 barrier and dropped below the $20,000 level. If the price of Bitcoin stays below $21,400, it may indicate that buyers have run out of steam and that sellers are about to enter the market. This is a bearish indicator.

Investors may also foresee a bearish correction in BTC because the RSI and the MACD are both overbought. Doji candles that close just below this level can also suggest an impending downward trend.

The immediate support level for Bitcoin is $20,800, and a break below it could trigger further selling down to the $20,000 level.

Below this point, there may be more selling until the price reaches about $19,250. Additionally, a surge in demand might cause Bitcoin to surpass the $21,400 threshold and reach the $22,850 mark.

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