Bitcoin Price Prediction for Today, January 16, 2023

The most popular and widely used digital currency in the world, Bitcoin, continued its long upward march to a high of $21,000, a 12% increase in only one day.

This week was wonderful for the cryptocurrency market, with almost all major tokens seeing significant price increases, with BTC and ETH both rising by about 25%. The values of other cryptocurrencies, such as Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP), are also rising.

Bitcoin’s current price is DATE: BTC:USD:Today:$20,934.82.

Price Prediction for Bitcoin

With a $40 billion global trading volume every day, bitcoin is presently trading at $20,911. Currently, Bitcoin is soaring and has crossed $20,500, which is acting as a solid support.

The upswing now has further room to rise to $21,000 or much higher, to the trading milestone of $23,000, thanks to this level’s bullish breakthrough.

Related: BTC Price Forecast: Today’s Bitcoin Price, January 11, 2023

The immediate support level for Bitcoin is $20,500 or $20,000. Both the RSI and the MACD indicators have entered the overbought zone simultaneously. Therefore, we must pay close attention to $21,500, because failing to do so could result in a drop in the price of BTC.

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