Bitcoin's Short-Term Update | Path to 44K Mapped

20 Jan 2022

Looking at the 1H timeframe for the BTCUSD pair, we have multiple bullish signals developing; the path is clear to 44K.

Let's get started!

First, we have a volume breakout.
Volume is a very important signal used for confirming a move.

Rising volume as prices challenge resistance is always good.

The MACD is on the bullish zone and ready to grow.
The RSI is at 61.36 while trending higher.

We have mainly two paths here, the green and red arrows.
Whichever one plays out, we are looking to go up.

When Bitcoin drops it drops fast, lately, we have seen consolidation taking place with a bias of pushing up.

What's your take?
Where do you see Bitcoin going next?

Thanks a lot for your continued support.

Namaste.