Bitcoin price prediction: BTC is fighting to secure its position above $40,000 backed by a modest recovery from the recent dive below $39,000. BTC led the entire crypto market on a rabbit hunt following the approval of spot Bitcoin ETFs in the US on January 10. While a brief rally propelled the largest crypto to $49,000 an unexpected sell-off left most investors bleeding profusely.
If BTC price established support above $40,000 before the end of the US session, this week could end on a positive note with gains closing the gap to $50,000.
However, it would be advisable not to jump the gun and go all-in on Bitcoin until bulls and bears resolve the ongoing tug-of-war.
Bitcoin Price Prediction: Is BTC Ready Close In On $50,000?
Bitcoin has been accepted back into the range with support at $40,000 and resistance at $42,000. Consolidation is expected within these limits in the coming days while traders bet on a continuing rise toward $50,000.
The Relative Strength Index (RSI) although neutra
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