Bitcoin (BTC) Price Analysis for January 18

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Source: CryptoNewsNet Original Title: Bitcoin (BTC) Price Analysis for January 18 Original Link: Sunday is mostly under bears’ control, according to CoinStats.

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BTC/USD

The rate of Bitcoin (BTC) has declined by 0.48% since yesterday. Over the last week, the price has risen by 4.51%.

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On the hourly chart, the price of BTC has made a false breakout of the local resistance at $95,249.

If the daily bar closes near the support, traders may see a test of the $94,500 range shortly.

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On the bigger time frame, the rate of the main crypto is closer to the support than to the resistance. If a breakout of the $94,249 level happens, the accumulated energy might be enough for an ongoing decline to the $92,000-$94,000 range.

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From the midterm point of view, traders should focus on the weekly bar closure in terms of the $95,938 level. If it happens far from it, sellers may seize the initiative, which may lead to a drop to the $92,000 area.

Bitcoin is trading at $95,056.

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