Bitcoin Price Rally to $38,550 Signals that Bulls Intend to Reclaim $40K?- Jan. 14th

From the one-hour chart, the Bollinger Band is in an open state, the price is moving above the middle orbit of the Bollinger Band, and the MA moving average is dispersed and running smoothly, and the overall trend is upward; after the RSI came into the overbought zone when it rose in the morning, the momentum is now downward. Back to the normal range, but there is also the possibility of returning to the overbought zone again. The MACD fast line runs above the slow line, showing an upward trend overall. It can be seen that the short-term is still a bullish trend. It is expected that there will be no major moves for the time being, but be wary of the future market.

At the time of writing, the price of Bitcoin has successfully broken through the four-hour Bollinger track and reached the upper track. The current momentum of the BTC price rebound is still gradually manifesting. Since last night, the market has seen a steady rise, continuously breaking through $38,150, changing the market’s weak performance. The increase in the day reached about 10%. In the later period, we need to focus on the position of $38,500. If the price reaches $38,500 and stands above it, the bullish trend will re-dominate, and it may be more likely to hit above $40,000. It is recommended that after $38,500 is stabilized, you can consider more than one entry, and pay attention to the $40,000 mark.

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.