Bitcoin Price Weekly Update: 18th January – 24th January 2021

This week bitcoin seems to be gaining momentum towards the upside even though there is a weakness in the trend.
The previous resistance at $34,647 after it was surpassed and broken to the $42,000 level is now tested again as support. 
There have been several reactions about this level, $34,647 and we hope to see where it takes the bitcoin price to next.
Considering the MACD signals. It explains that the price of bitcoin is ascending gradually as the MACD moving averages have crossed upwards and the histogram shows the ascension.
If the price reaches $40,000 then the uptrend will continue and then break above $42,000 to a new all-time high. 


Looking at the technical indicators:
    • Major Support Level – $34,647
    • Major Resistance Level – $42,000

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for USD/BTC:for Naira/BTC: If you have any questions, leave it in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.

 

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