Bitcoin price analysis: BTC reclaims $43K, resistance at $45K

Bitcoin price analysis comes with an optimistic scenario for January 13, 2022 and is at a critical point with resistance at $45,000-$48,000
Bitcoin price analysis comes with an optimistic scenario for January 13, 2022 and is at a critical point with resistance at $45,000-$48,000

Bitcoin price analysis comes with an optimistic scenario for January 13, 2022. The king of cryptocurrencies is at a critical point with resistance at $45,000-$48,000. 

The current price of Bitcoin stands at $43.6K, which is holding for the time being. The prices reached a daily high of $44.3K on January 12, 2022. If Bitcoin is not able to break reclaim $45K, we might see a price fall to as low as $40K. 

The data from CoinMarketCap shows that BTC has been up by more than 2% in the last 24-hours. On the other hand, the volumes rose by 53.43%, while the market cap rose by 2.23% and is at 825 billion USD.

The token is 36.62% shy of its all-time high (ATH) witnessed in November but has been steadily climbing above $42K in contrast to our analysis of January 11, 2022 when BTC was below $42K.

Bitcoin price analysis on the daily chart

The Bitcoin price analysis via the daily chart shows that the world’s biggest cryptocurrency will be in trouble if the current resistance between $45K-$48K is not conquered because of the looming ‘Death Cross,’ which TheCoinRise reported earlier.

The MACD indicator, on the other hand, shows that Bitcoin has flipped bullish as the MACD line (blue) breaks above the signal line (orange). This event is called a bullish divergence on the daily chart, which is a bullish indicator.

Bitcoin price analysis
Source: TradingView

The Accumulation/Distribution chart shows that people have been buying dips with a sudden positive rise in the gradient of the line, as seen in the chart below. As per TheCoinRise, investors were accumulating BTC for a long after shorting it in mid-Nov and December.

Bitcoin price analysis
Source: TradingView

Conclusion

If Bitcoin holds $43.6K and reclaims the $45K price level without crashing, we are in for a treat. The MACD indicator has turned bullish but, the threat of a Death Cross still lurks. Investors are advised to be patient and wait for the market to reveal its true colors.

As reported previously, the Swiss-based Seba Bank CEO predicted $75K for BTC in 2022, which is a possibility if Bitcoin spot ETF is approved by the SEC.

A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? He loves cryptocurrencies.