Bitcoin price analysis for Jan 30, 2022, suggests a continued struggle between bulls and bears. Recently, Bitcoin fell below its support zone between $42K-$43K and reached a low price of $33K. Since then, the prices have steadily surged, and as per our BTC analysis from Jan 29, Bitcoin is back above $37.5K.
The data from CoinMarketCap shows that the trading volume of the world’s biggest cryptocurrency has decreased by 10.63% in the last 24 hours. Furthermore, the market cap rose by 0.92% in the same duration. The market dominance of Bitcoin at 41.62%, and it seems that the next price resistance is at $40K.
Moreover, as per our Bitcoin price analysis, the token is 44.65% from its all-time high that was witnessed in Nov 2021. The daily candle started the day at $38.1K and reached a daily high of $38.3K. The daily low for today stands at $37.8K, and the price of BTC at the time of writing is $38K.
Bitcoin price analysis on the daily chart suggests that the world’s biggest cryptocurrency is once again turning bullish. As seen in the chart below, we can see a bullish divergence taking place. The MACD line (blue) broke above the signal line (orange), which confirms a bullish scenario. As a result, higher prices are possible.
Source: TradingView
The Accumulation/Distribution (A/D) line is forming higher highs which means an increased influx of capital in the token. The founder of SkyBridge Capital, Anthony Scaramucci, predicted a price of $500K for BTC in the near future.
Source: TradingView
Despite the rejection of the Fidelity Bitcoin spot ETF by the SEC, Bitcoin continues to aim for higher prices. Recently, Bitcoin was rejected at $38K, as reported by TheCoinRise, and BTC is currently at the same price level. BTC needs to reclaim $40K, as per our Bitcoin price analysis for Jan 30, 2022.
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