Bitcoin Price May Fall Back to $20K?- Jan. 13rd

Due to the huge volatility, people can’t help thinking if the price will fall back to $20K. By now, Bitcoin appears to be entering a new range where $30,000 is the support price and the $35,000 level may act as resistance. 

In the 4-hour chart, the Bollinger Bands are opening downwards, and the price fluctuates around the middle and lower rails of the Bollinger Bands. The MA10 daily moving average has a turning upward trend, and the MACD fast line is gradually flattening and the short energy column continues to decrease.

In the 1-hour chart, the bitcoin price rose to $36,643 yesterday and began to pull back. It fell all the way to the $32,500 line and rebounded upwards, not breaking the lower Bollinger band. From yesterday to now, the market has dropped to the lower rail of the Bollinger Bands 3 times to rebound. At present, we can target the support level of the lower rail of the Bollinger Bands and the resistance level of the middle rail of the Bollinger Bands for layout.

Operation suggestions:

1. Fall back near $32,800, enter the market with buy/up orders, the target position is near $34,100.

2. Rebound near $34,200, enter the market with sell/down orders, the target position is $32,500.

Tips: Quotes are time-sensitive, and please pay attention to take good risk control and make good use of “Take profit” and “Stop loss”.

The technical analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal.