The price of Bitcoin (BTC) has remained above the moving average lines and the $89,000 support since the rebound on January 2.
BTC price long-term prediction: bullish Technical indicatorsKey supply zones: $120,000, $125,000, $130,000
Key demand zones: $100,000, $95,000, $90,000
BTC price indicators analysisThe price bars remain above the horizontal 21-day and 50-day moving average lines. The largest cryptocurrency is expected to gain while it remains above these moving averages. On the 4-hour chart, Bitcoin is trading between the horizontal moving average lines, indicating a likely range-bound movement as it is confined between these levels.
Currently, the cryptocurrency is trading above the 21-day SMA support but below the 50-day SMA resistance. Bitcoin will begin its upward movement by breaching above the moving average lines.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.
