BTC/USD forecast for today by Traders Union analysts

All last week BTC/USD was recovering the losses incurred earlier, as a result of which the 65,600 resistance was broken and the 67,300 level was tested. The bulls' inability to break this resistance led to the liquidation of long positions, causing the coin's price to fall to 63,800-63,600 support. The nearest resistance is now at 64,800 level, below which the risks of breaking support and declining toward 63,000-62,700 prevail, confirmed by the formation of a series of lower peaks. Breaking resistance will lead to a growth toward 65,000-65,200. Failure to develop upward dynamics on halving indicates the weakness of the bulls and possible development of a larger correction, but the fall in the value of BTC can still be used for buying.

The correction in the crypto market is ongoing, with Bitcoin continuing to drop amid liquidation of long positions, while investors exercise caution ahead of the halving. Breaking the $68,500 support level, the price of BTC dropped to $59,820, after which bulls launched an offensive attempting to break resistance at the $63,000 level. Although near-term prospects look negative and bears may retest the psychological level of $60,000, it's premature to speak of a trend reversal at this stage. With the halving on the horizon and the potential for cryptocurrency appreciation on this event, the price decline may be limited.

Bulls continue to control Bitcoin's situation and buy it in the fall. Buying from support around the 65200 level led to a break of resistance at 70400 and a rise to resistance around the 72560 level, after which the price of the coin fell to 67200, and buying from this level allowed the bulls to attack 71000 again. The upcoming halving continues to stimulate BTC purchases on the decline, and in the near term, it is possible to continue the "swing," with the breakdown of strong levels, and the development of both sustainable upward dynamics and the development of downward dynamics, in general, unlikely. A decline towards 68000 is possible; breaking through 71000 will open the way towards 71600-72000.

All attempts of bitcoin bulls to break through the resistance near the levels of 71400-71800 were unsuccessful, which provoked the liquidation of long positions and a corrective decline to the support near the level of 64600. The nearest resistance is now near the level of 66800-67000, below which there are still risks of another bearish attack on the support. Its breakdown will lead to a decline towards 64000, where the bulls may try to bring BTCUSD back to the uptrend. Passage of the current resistance will lead to growth in the direction of 67800-68000.

Contrary to expectations of a deeper correction, bitcoin retains its attractiveness and continues to be in demand in the fall. Thus, after the decline to the support near the level of 62400, the growth of its price resumed, and the bulls are currently testing the resistance of 71400 USD again. The cryptocurrency was also supported by rumors about the possible inclusion of Morgan Stanley BTC ETF in the list of tradable instruments on its platform, but the growth of BTCUSD towards 73670 can again be used for profit, taking on long positions. The nearest support is around the 70400 level; its breakdown will lead to a decline towards 70000-69800.

The outflow of funds from GBTC Greyscale amid rather high commissions compared to other funds contributed to the liquidation of long positions on BTC, due to which the cryptocurrency price fell to 60875 USD. In the fall, the demand remained, but the bulls were unable to break through the resistance near 68000, and the coin is again experiencing selling pressure. Thus, the risks of testing the corrective minimum remain; passing the resistance will lead to growth toward 69000-70000. There is no talk about the trend reversal yet.

The demand for Bitcoin remains, against which its rally continues. Its price broke through the resistance near the psychological level of 70000 USD and rose to 73750. The data released today showed an acceleration in US wholesale price inflation, contributing to profit taking on long positions and a decline in support at 71560. A loss of 72400 support suggests a decline towards 70400-70000, but on the downside, BTC could be bought back up again. The outlook for the cryptocurrency remains constructive for now.

As part of the ongoing rally, BTCUSD reached the 69,000 level before seeing a rapid decline towards 57520, which was caused by damage to some of the global internet cables without which cryptocurrencies cannot exist. However, the price of the coin was not prolonged, and the bulls bought it back to the 67600 resistance after buying it back in the fall. Ahead of the halving, BTC could continue to rise and test $70000; a loss of 65600 support would lead to a decline towards 64000-63000.

On the background of high interest in spot bitcoin-ETF, the price of BTC continues to demonstrate growth, against which a number of resistances were broken, and the level of 63930 USD was reached. Thus, the cost of cryptocurrency is approaching historical highs, which creates risks of liquidation of long positions and development of downward correction, within which testing of 54000-52000 is possible, while growth to 66000-68000 should not be excluded.

The bulls' breakthrough of bitcoin resistance near the level of 50200 ensured the growth of the coin's price up to the level of 53000, which they failed to break through despite numerous attempts. Support is near the level of 50800, but the declining peaks pose a threat of its breakdown and decline in the direction of 50200-50000. A score of 51400 will allow us to test 51600-51800. The fall of BTCUSD can be used for buying.

Bitcoin continues to enjoy massive demand, against which its price overcame many resistance levels, including the psychological level of 50000 USD, and rose to the level of 52860. At the moment, the bulls are fixing profits, against which BTC fell to the level of 51790. The overbought condition may become a reason for the development of a downward correction, within which it is possible to test support at 51500-51200, but the cheaper coin may be redeemed again.

Last week, BTCUSD was in a consolidation phase, where the bulls tried to break the resistance around the level of 43740, and the bears tried to break the support of 42400. The consolidation ended with a break of resistance and a rise to the 45390 level on this coin. Passage of strong resistance around the 44400-44450 levels suggests a rise to the 45800-46000 resistance, where bears may become active.

Having resumed growth after the fall, the bitcoin price reached the resistance of around 43800 USD, but all the bulls' attempts to break through it failed. As a result, under the influence of another wave of sell-offs, the price broke through the support around the levels of 42800-42700 and declined to the support of 41900. Comments of Jerome Powell, Chairman of the US Federal Reserve System, deprived the market participants of hopes for the interest rate reduction in March this year. Against the background of the US dollar growth, BTC may remain under pressure and decline in the direction of 41400-41000, while there are no reasons for a sell-off at this stage, so the cheaper coin may be bought back again.

On the background of rather low trading volumes by spot BTC exchange-traded funds, the price of the coin remained under pressure all last week, as a result of which, after a short consolidation, the support near 40600 was broken through, and the level of 38510 was tested. Nevertheless, there is still demand for the fall, thanks to which BTC was able to recover some of the losses and test the resistance of 40300-40500. At this stage, it is again in a consolidation phase, with the bulls persistently trying to break through the resistance, which, if successful, will allow them to test 40600-40800. Breaking the support at 39800 will lead to a decline to 39400-39000, where the bulls may become active again.

The launch of nine spot bitcoin-ETFs triggered the growth of BTC to the level of 49040, but in full compliance with the rule"... sell on the facts," there was a liquidation of long positions, due to which the price of the coin fell to the level of 40600. The nearest resistance is now at the level of 41450, below which the risks of a decline to 41000-40700 prevail; passing this resistance will lead to a rise to 41800-42000. There are no reasons for a large-scale sell-off at the moment, so a drop towards 40000 can be used for buying, but attempts to break through to last week's highs may also encounter selling interest.

While waiting for the SEC's positive decision on investment companies' applications for launching spot bitcoin-ETFs, BTC continued to enjoy demand, amid which it broke out of another consolidation range and rose to resistance 47200. The liquidation of longs led to a decline in the price to support 44400, where the coin was again redeemed. As expected, the SEC gave the green light to launch the BTC ETF, which provoked the continuation of growth to the level of 49045 at the moment. Thus, the prospects of the coin remain constructive, where the nearest target of the bulls may be the psychological level of 50000, while the development of events according to the rule "sell on facts" should not be excluded. Loss of support at 47200-47000 may signal the formation of a top.

The bitcoin price has remained virtually unchanged over the past week. At the beginning of this week and the new year, the bulls broke through the resistance around 44200 and tested the level of 45880, but they were unable to absorb the offers placed from this level. After a brief consolidation, they were taking profits, which led to a drop in the price of BTC to the level of 40898. There is still demand on the dips, but at this stage, growth attempts are limited by resistance near the 43500 level. Failure to break through it will entail a decline in the direction of 43100-43000; passing the resistance will lead to growth to 43700-44000. There are no reasons for large-scale sell-offs at the moment, but fresh market drivers may be needed to return to the highs of the week.

Last week, the bitcoin bulls broke through the resistance around the level 43440 and tested the resistance of 44230. All attempts to break it failed, leading to profit taking on long positions and a decline to 41670. Nevertheless, the pullbacks still attract interest to buy, which is also promoted by the falling of the US dollar and investors' inclination to risk. Thus, the bulls may continue to try to storm the resistance; loss of support at 42860 will lead to a decline towards 42500-42250.

Liquidation of long positions led to a decline in bitcoin price to 40550. On the decline, the token continued to be bought out, and the bulls soon tested the resistance around 43350. After a pullback to 41845, the growth of its price resumed, and the bulls broke through this resistance and tested the mark 44258. The pullbacks continue to attract buying interest, but a rise to this year's highs could be used for selling, which could result in a loss of support at 43320 and a decline to 43000-42500; a solid break of the highs would lead to a rise to 45000 minimum.

The inability of the bulls to break the current highs led to profit-taking on long positions, against which BTCUSD declined to support near the 40600-40200 levels, after which it entered a consolidation phase, trading between support and resistance near the 42000 level. The US Federal Reserve's intention to lower the interest rate level three times next year exposed the US Dollar to a sell-off, which helped it break resistance and rise to the 43417 level. Demand is now seen from the 42685 level, from which attempts to test the current resistance are possible; a loss of this support, which could happen in the event of a correction in the dollar, would lead to a decline towards 42400-42200.

Optimism in the crypto market persists, and with it, the demand for bitcoin, the price of which in these conditions broke through several resistance levels and rose to the mark 44455, which was facilitated by the decline in the US dollar, expectations of interest rate reduction by the Federal Reserve and expectations of SEC approval of investment companies' applications for the launch of spot bitcoin-ETF. Nevertheless, the launch of such an instrument in the EU countries did not become an incentive for purchases, so such a large-scale growth of BTC can hardly be called justified, and along with its overboughtness, the risks of developing a downward correction have significantly increased, within which the nearest target of the bears may be the support of 42400-41600. There are no reasons for the trend reversal at the moment, so the drop in the price of the coin can be used for buying. Breaking through the current resistance will lead to a growth of 45000 at least.

Despite the SEC postponing the consideration of applications for the launch of spot bitcoin-ETF, BTC continues to be in demand, but the bulls are still unable to break through the resistance around 38400. Buying it back from support at 36780, the bulls are not giving up trying to break the resistance. It is unlikely to break through it before the SEC decision, but there is no reason for large-scale sell-offs, so bitcoin may continue consolidation in the short term.

Bitcoin continues to trade in a wide range, with demand noted around the 35650 level and selling interest approaching 37900-38000. Yesterday, the market was stirred up by the news of Binance's deal with the US DOJ, which caused another bounce from support and testing of the upper boundary of the range, but again, the bulls failed to break it, which may entail a decline in BTC price to 36800-36400. The outlook for the coin remains constructive, where the bulls still have a chance of breaking the resistance and boosting its price towards the psychological 40000 level. Expectations of bitcoin-ETF launch will provide support, but selling on the "fact" should not be ruled out.

Bitcoin sales from the level of 37955 led to its decline to support around 36220, which, after several days of consolidation, was broken, and the price of the coin tested the level of 35000. Despite the support breakdown, bitcoin soon showed positive dynamics and tested the current highs again. Nevertheless, the BTCUSD rally looks excessive, so we should not rule out a fallback to 35000. Breaking through the resistance will lead to growth towards 38500-39000.

The closer the deadline for the likely SEC approval of applications of several investment companies to launch spot bitcoin-ETFs, the stronger the bullish momentum in BTCUSD becomes. Consolidation of the cryptocurrency ended with the next purchases from the support 34600 and breaking the resistance near the level 35885, as a result of which its price rose to 37000 USD. The nearest target of the bulls may be the 38000 level; a loss of 36535 support will lead to a decline to 36200-36000. Bitcoin's outlook remains constructive.

Several days of bitcoin consolidation in the range between the support around 34100 and resistance of 34800 ended with the breakdown of resistance and rapid growth to the level of 35962. From this level, bulls are taking profits on long positions, against which the 34725 mark was tested. Now, to maintain the upside potential to 35500-35700, they need to consolidate above this level. Otherwise, BTC will return to the above support.

Optimism about the prospects of US investment companies' bids to launch a bitcoin-ETF is pushing the bitcoin price up, and the bulls managed to break through the psychological level of 30000 USD and test the level of 35224. Pullbacks towards 34000-33275 attract buying interest, but the bulls' inability to break the current highs will entail liquidating long positions and a decline toward the 30000 level. A confident breakdown of the highs will lead to growth in the direction of 36000.

The SEC approval of applications to launch a bitcoin-ETF triggered a rally in BTCUSD to the level of 29995, but amid denials of this news, the price of the coin retreated to support near the level of 28180. Nevertheless, expectations of application approvals continue to provide support, and bulls may test 28800; loss of support will lead to a decline toward 27800-27500.

The bitcoin bulls failed to overcome the resistance near 28080, which became a reason for the liquidation of long positions and a decline in its price to 26542. Growth attempts at this stage are limited by resistance near 26900, which indicates the risks of retesting the current low; passing the resistance will lead to growth to 27200-27300.

In anticipation of the launch of the Ethereum-ETF futures, bitcoin soared to the $28585 level after breaking through several resistances but was sold off here, leading to a fall to support at 27200, and helped by sluggish demand for the ETF. On the downside, it is being bought back, helped by a fall in the ETHBTC cross rate, but the bulls' failure to break resistance around 27800 raises the risks of retesting the above support, and if it is broken, BTC will continue to fall to 27000 at least; passing the resistance will lead to a rise to USD 28000.