During the past week, BTCitcoin witnessed a substantial decrease in its market value, raising concerns among individual investors who may have suffered losses due to the significant market volatility. The price of Bitcoin exhibited fluctuations within a range of approximately 2,700 points, with its highest point for the week hitting $28,176 and its lowest reaching $25,451, eventually stabilizing within a precarious range.

This decline in the value of Bitcoin, intensified by the loss of critical moving averages and the breach of the $27,000 threshold, can be attributed to adverse market sentiment and delays in the approval process for spot Bitcoin Exchange-Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC).

Furthermore, on-chain data reveals an increase in the number of transactions occurring on the BTCitcoin Network, rising from 415,000 to 430,000. While this surge in activity has not had a substantial impact on Bitcoin's price, it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.

Analyzing Ripple's XRP Price Movement: Following a period of significant volatility, Ripple's XRP has established itself within a confined and narrow trading range. Presently, XRP maintains a position just above the 200-SMA, while the 100-SMA presents itself as an immediate and formidable obstacle. Concurrently, a substantial 29M token transfer has introduced heightened market pressures.

Delve into the implications of the $15M maneuver that has reverberated throughout the scene, inducing a sense of unease among XRP investors. The impending breakout from this range, whether towards the upside or downside, remains a subject of anticipation. Notably, there is a leaning towards potential upward momentum, supported by the RSI indicator's recovery from the extreme oversold territory it had previously dipped into.

Amidst a persistent week-long selling trend, BTCitcoin's current trading value is positioned at $26,000, marking a critical juncture for its trajectory. An important precedent was set in March of this year when the 250-SMA functioned as a vital support region for bullish activity.

Despite the recent aggressive sell-off, the present scenario sees the Bitcoin price gradually converging towards this identical level. This convergence aligns with the Relative Strength Index (RSI) maintaining its position within the extreme oversold territory. This conjunction potentially offers a strategic opening for buyers to instigate a reversal of the prevailing trend and extricate themselves from the clutches of sellers.

The decline in the pole and flag pattern led to substantial BTCitcoin sell-off, compounded by market factors, coinciding with a $1.05T crypto market cap. BTCitcoin's downfall resulted in $1B liquidation in 24 hours, with BTC accounting for $500M.

BTC's market cap dropped over 7.5% to $505B overnight, as price hovered near $26K. Recent sell-off liquidated $380M in long positions. The pattern disruption plunged BTC below $26K, highlighting $25K as a crucial recovery zone.

despite today's slightly recovery, market sentiments again turned unfavourable, but bulls still have the chance to defend them selves at $25,000 key support zone.

The price of BTCBitcoin has undergone a breakdown of the pole-and-flag pattern, resulting in a decline below the significant immediate support level of $29,000, ultimately reaching a 25-day low below the $28,000 threshold. Despite this, it's noteworthy that BTC is currently trading below the 100-day Simple Moving Average (SMA), while the 200-day SMA remains positioned to potentially offer support in the near future.

The question that arises now is whether Bitcoin will experience a rebound or persist in its ongoing trend. The unfolding market dynamics will provide further insights into the trajectory of this cryptocurrency.

Tradingview post: https://www.tradingview.com/x/EIZjUOU4/

• According to the ongoing rumours, everyone is scared of the crypto ban in the US.
  
• If the liquidity is reduced from the market then the crypto market retraces again.
  

The Hot Topic Staking Ban can be seen on everyone's lips. According to a recent tweet by Brain Armstrong, the head of the largest crypto exchange, crypto has become a matter of great concern for now. That said, the US SEC may close the stake in the United States.

If this happens then a scary effect can be seen on the crypto market.

Liquidity will decrease sharply
Volatility will also be less
Overall crypto market cap could be under $1 billion
BitcoinBTC could again move towards 52-week lows as the leader of the rest of the altcoins.

Finally, as I mentioned earlier, the bitcoin price moved back towards the $23K level. In time, the bitcoin price completed the fifth wave and for now the market may cool off and bounce back. speculators must wait for the next confirmation to make another position.

https://www.tradingview.com/x/TUJNNS6j/

I also have bullish view on Bitcoin but for this week, it may hit $23K as hourly chart reflects selling on high. Bulls need rapid growth to overcome minor pullbacks.

• The price of bitcoinBTC is slowly coming down.
  
• The price action is showing a higher-low formation from the $24,250 level.

• Elliott waves give a bearish signal towards $23000.
  

The buyers often failed to register another sustainable high above $24,200. Everyone is looking to celebrate Bitcoin's new 2023 high. There is unlikely to be a slight panic among speculators as the sentiment indicates a minor correction in the BTC price.

https://www.tradingview.com/x/aj4E64dX/

BitcoinBTC price action forms higher-low and lower-high patterns in the near term. This bearishness comes with Sellers most favorite strategy of Elliott Waves Theory. The hourly price action has registered the fourth level of waves at the fib retracement of the 0.5 level. If the next horizontal support breaks, the market is likely to witness further decline towards the $23000 mark from the current levels of $23,440.

$23,200 appears as an immediate support as the bulls draw an ascending trend line. This breakout could take bitcoin price towards $23,000 to complete the correction before any bullish recovery.

losing thoughts

BitcoinBTC price often retests the consolidation zone, which means bears are actively trying to maintain dominance at higher levels. For safe trading, speculators should wait for the confirmation of the directional trend.

• Pancake swap overcomes important resistance area.
• The next resistance is at the $5.0 mark.
  

Pancake swaps (CAKE) were bullish when bitcoin faced resistance in early February. The crypto market appears stable after a recovery and buyers are getting motivated for the latest investments in the market while CAKE token revealed a break above the December bullish hurdle.

Three consecutive bullish candles show strong empowerment of market bulls and another bullish open above $4.1 area will give fuel to hit the next wall near $5.0. For the time being, traders should try to hold CAKE coin for the next rally, but this will again include retracement steps.

https://www.tradingview.com/x/dWA2cXCe/

The CAKE token is influencing Bitcoin as the correlation remains around the 0.81 level. A further increase in BTC price will push PancakeSwap price towards $5.0. But a minor retracement could happen at $4.5 as there was a sharp sell-off at this level in early November.

Amidst the bullish momentum, buyers followed up with buying on the decline as suggested by previous price action. Thus this can be a favorable opportunity for the bulls. Specifically, the recent top at $4.321 could act as an immediate resistance until it breaks.

The trading volume is also sufficient to maintain a sustainable move in the market. Impossibly high growth requires more purchasing power, so more accumulation will open the door for retail investors in the market.

Final Thoughts

As long as pancake swaps (CAKE) price sustains above the $4.0 area, the upside potential will increase. And this accumulation may achieve the $5.0 resistance by the end of this month.

To survive in the volatile crypto market, consider the following strategies:

Diversification: Spread your investments across different cryptocurrencies and assets to minimize the impact of market volatility on your portfolio.
Long-term focus: Don't make short-term decisions based on market fluctuations. Instead, focus on your long-term investment strategy and goals.
Risk management: Set stop-loss orders to limit your potential losses and protect your investments.
Stay informed: Stay informed about market trends, regulatory changes, and technological developments that may impact the crypto market.
Don't chase returns: Avoid making impulsive decisions based on news or rumours that promise quick profits.
Seek professional advice: Consult a financial advisor or investment professional to help you navigate the complexities of the crypto market and make informed investment
decisions.

Remember that investing in cryptocurrencies BTC comes with significant risks and it's important to thoroughly research and understand the market before making any investment decisions.
   

BitcoinBTC price moves sideways in a tight range.
The market bulls are barely managing BTC on the horizontal support.

Finally, the month ended with incredible returns in bitcoin. Thus, if you are a long-term investor, the long-term prospects look favourable as crypto has bottomed out. The monthly candlestick chart is looking good and shows potential upside momentum.

On the lower side of the monthly chart, buyers lost most of last week's gains so far in just three days of this week. Meanwhile, there is a candle inside, which can influence positive trends. However, sellers came back into the market after retracing from the $24,000 level, needing a breakout of this hedge zone soon for more gains.

https://www.tradingview.com/x/SRwHUtxT/

On the hourly chart, bitcoin/USDT is trading at an important level. There are high chances of a breakdown and it could touch the nearest support at $22,600 for this week. Conversely, the $24,000 level was a major selling area.

There is a trading range of 1500 points for this week and speculators can anticipate a sideways movement once it breaks out of this horizontal range. Additionally, the price action is showing an ascending triangle formation on the lower time frame, which could affect the price towards $23,800.

What will happen next?

No need to fear, the ongoing retracement in bitcoin price looks good for a healthy trend. A little patience can help in continuous value maximization. Directional view will take place after breaking this 1500 point horizontal range. 

BitcoinBTC price failed to hold the $24,000 resistance.
BitcoinBTC price started trading below an ascending trend line.

BitcoinBTC again declined towards the $24,000 resistance to show that the bears have not left the market just yet. The crypto market may be affected by the retracement phase as this market dominator-Bitcoin slips below the next important support levels.

BitcoinBTC price appears under high volatility as its marking also moves up and down on a daily basis. Bears have pared the overall gains of Jan 29, and this could lead to further effective selling if a monthly close below $23K.

https://www.tradingview.com/x/mYJrr277/

The hourly chart is showing short-term selling as bitcoin price reached the 0.382 level of the Fibonacci retracement level (at $22,930). Notably, this retracement pulled it below the ascending trendline and the price action flipped the buy on dip strategy. Going forward, buyers may see a drop in bitcoin price at this rising hurdle.

Although the trading volume decreased slightly, there is still a large number of buyers and sellers. Retail traders used to trade aggressively in the intraday trading session. As of now, there is no need to fear as the buyers have an important protection level at $23,300 if this lower momentum continues further.

As mentioned in the previous article $24000 level was an important resistance for the buyers so they will have to cross this mark soon to reach $25K in the first week of February. The upcoming bounce back may increase the confidence of the buyers to maintain the bullish zone.

Closing Thoughts

Bitcoin speculators should wait for the monthly price close to create another open position. At this crucial level, the retracement phase is also a major concern and if bitcoin rebounds and sustains above $24K, the price is likely to reach $25K soon.

BitcoinBTC price broke out of the box after a long movement.
The $23,840 mark appears as an immediate hurdle.

BitcoinBTC price broke out of the consolidation box and is showing an uptrend on the hourly chart. Price action refers to a bullish pattern as it forms high-lows on an ascending trendline. Buyers dominate the short term trend.
 
Speculators are set to book decent profits at the higher zone while the bears await a retest of the weekly swing high at $23,840 in bitcoin price to attempt a minor retracement. There will be a possibility of this short term selling


https://www.tradingview.com/x/ITMwDS3C/

So far the $23,400 level has turned into the most recent support, on the contrary, $23,800 could interrupt the ongoing trend before reaching $24K. A breakout of this narrow trading range could lead to a significant upward move.

The monthly halving is nearing completion, and on January 29, BitcoinBTC rallied by over 2.5%. This indicates that the bulls are aggressively participating in the market until they reach the $24K resistance as the market is consolidating.

About Technical Indicators

The traditional indicators on bitcoin are bullish as well as the rising trend line is an important defending zone for the bulls, so bitcoin price could again rally to this price point in the coming days. Usually, strong breakouts can handle market stability and can trap buyers if the price moves slowly.

Conclusion

If BitcoinBTC price moves above the $24K level, a rally to the $1000 mark awaits the buyers. The market sentiment is looking good to trade with an upside bias in the coming week.

Yes despite the higher-lows momentum, uncertainty exists in market but anyhow we have to overcome oversold market. Eventually, selling on rise is over and it's the time to see upwards. right?

The price consolidation is getting longer in a narrow range.
The bears are still holding the bullish barrier of $23,400.

BitcoinBTC price is struggling in the consolidation phase to maintain a healthy bullish trend in the market. The bulls wait patiently to buy bitcoin if a range breakout occurs. Although trading volumes have declined in the past few days, this was due to a reduction in short positions from the market.

The $23300 to $24400 support-resistance range is considered to be a defensive zone for the bulls and bears after the bullish gains of January 20. If a bullish breakout occurs before the end of January, bitcoin price is likely to reach the $25K level soon.

https://www.tradingview.com/x/HsuNUdbE/

Due to the continued price rally, BitcoinBTC speculators consider the $20,000-conceptual round level as key support. This rapid rally turned the scenario into a sell-off at higher highs and till now the bulls are leading the market.

Some key facts that could push the price of BitcoinBTC upwards

The overall market valuation crossed $1 trillion.
The price of bitcoin is well above the crucial round level.
There is consolidation below $22,300 to $23,400 for another bullish move.
Technical indicators heat up the market.

Final Thoughts

Long positions are increasing in the market in view of the higher-low formation. Market leader-Bitcoin may soon break this box pattern due to positive market sentiment.

Bitcoin consolidation is going to complete soon.
Next target appears at $25,000 soon.

Cryptocurrency market appears stable in terms of higher price fluctuation. On the other hand, global markets are losing nowadays. Short-tempered speculators are getting confused for now and waiting for the same directional momentum of all markers.

https://in.tradingview.com/chart/bF9MG0OF/

Largest cryptocurrency Bitcoin is going to expand the current value rapidly over the barriers investors are looking forwards to $24K before achieving the 6 months top of $25K. This is the time to explore the upwards journey after a plunge.

Typically, after the new year journey, Bitcoin valuation increases along with consolidation phase in a box pattern (below the chart). On a hourly graph, price action made consolidation phase twice in past few days before significant bullish spike.

At the time, Bitcoin BTC price is close to the upper range of the box, which means get ready for another hike towards $24K (immediate resistance) and next 6 month’s vital barrier of $25K. Volume is emerging gradually and here bullish scope exists as liquidity is sufficient to take a bullish call.

What is the first priority?

You can be stuck in consolidation if you buy Bitcoin at the time, but little wait can make use of your money effectively. Wait for the right time to take any bullish position. Range breakout likely to push BTC price towards $24K and $25k.