Home Cryptocurrency Analysts expect turbulent Bitcoin price until $46,500 flips to support

Analysts expect turbulent Bitcoin price until $46,500 flips to support

by Serge Shlykov

Bitcoin is currently trading at $11,800. Analysts expect turbulent Bitcoin price until the currency flips to support level of $46,500.

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The “bitcoin price analysis” is an article that analyzes the Bitcoin price and expects it to be turbulent until $46,500 flips to support.

The exhilaration of Bitcoin (BTC) reaching its highest level in a week was swiftly dampened by a correction that sent the cryptocurrency down into the mid-$45,000 region on January 13. Market volatility raised its ugly head once again for cryptocurrency traders that day. 

After hitting an intraday high of $44,500, bears gained control of the Bitcoin market and drove the price down to a low of $42,315, while the broader global financial markets also saw a noteworthy sell-off, according to data from Cointelegraph Markets Pro and TradingView.

1-day BTC/USDT chart. the TradingView website

Here are some comments made by cryptocurrency experts on the current price movement and the levels that traders should be watching.

The 50-day EMA becomes the new barrier.

Crypto expert and fictitious Twitter account ‘Rekt Capital’ gave analysis of Bitcoin’s weekly price movement by posting the following chart that focused on BTC’s performance around the 50-day exponential moving average.

Analysts expect turbulent Bitcoin price until $46,500 flips to support1-week BTC/USD chart. Twitter, as a source

As per Rekt Capital,

“Although BTC didn’t reject from it in a flawless way… It could make sense to consider the blue 50-week EMA as resistance right now.

According to the presented chart, Bitcoin presently encounters significant resistance at $48,825.

The pressure from whales is $46,500.

On-chain analytical company Whalemap published the following graphic showing significant accumulation at the present price level as well as the prior accumulation of 90,000 BTC at the $46,500 price level. This data provides insight into where Bitcoin whales have been making an impact.

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Analysts expect turbulent Bitcoin price until $46,500 flips to supportlarge deposits into bitcoin wallets. Twitter, as a source

Whalemap reported,

“Reclaiming $46,500 will seem to be reversing the trend. However, there will be some pushback from whales. All eyes are on $46,500.

“Remain composed and take in the marketplaces”

Independent market expert Michal van de Poppe also drew attention to this region of resistance and provided the following chart, which provides a basic idea of how the BTC price movement may behave in January.

Analysts expect turbulent Bitcoin price until $46,500 flips to support4-hour BTC/USDT chart. Twitter, as a source

Van de Poppe declared:

This situation can be highly probable for Bitcoin. First test of $46K, I doubt we’ll succeed in one attempt.

Poppe tweeted the following message after the failed breakout effort and rejection at $44,000, urging followers to exercise patient since the path to higher ground would take some time to open up.

Remain calm, unhurried, and take in the marketplace.

Slowly, the mood from yesterday began to change.

Long term remains positive, however #Bitcoin and the price movement must settle and consolidate before there is a significant bullish rise.

This is the time frame.

By Michal van de Poppe on January 13, 2022 (@CryptoMichNL).

The market capitalization of all cryptocurrencies is now $2.023 trillion, with Bitcoin having a 39.8% dominance percentage.

The author’s thoughts and opinions alone, not necessarily those of Cointelegraph.com, are conveyed in this article. Every investment and trading action has risk, therefore before making a choice, you should do your own study.

The “ethereum options expiry 2022” is an analyst’s prediction that Bitcoin will be in a state of turbulence until the price reaches $46,500. The currency has been trending down since its peak at $19,000.

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