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Bitcoin (BTC) Price Analysis for January 25
Source: CryptoNewsNet Original Title: Bitcoin (BTC) Price Analysis for January 25 Original Link: According to CoinStats, there are no reversal signals on the last day of the week.
BTC/USD
Bitcoin (BTC) has declined by 1.33% since yesterday. Over the last week, the price has fallen by 7.1%.
On the hourly chart, the price of BTC is rising after setting a local support at $87,957. As most of the daily ATR has been passed, there are low chances of sharp moves by tomorrow.
On the larger time frame, bears are controlling the market situation. If the candle closes around current prices, traders may see a test of the interim level at $86,561 in the upcoming week.
From a midterm perspective, the main cryptocurrency is declining after a false breakout of the resistance at $95,938. If the decline continues to support levels, the accumulated energy might be sufficient for a dump toward the $80,000 area.
Bitcoin is trading at $88,265 at press time.