CandleFocus

Bitcoin (BTC) Price Prediction for January 31

The overall crypto market is in the green zone, with Bitcoin's price falling by 0.21% in the last 24 hours. On the hourly chart, Bitcoin is experiencing a downward trend after reaching a resistance level of $105,023. If the selling pressure continues, the price might test the $104,000 range soon. On a larger time frame, neither bulls nor bears are dominant, and the volume remains low. As a result, sideways trading between $104,000 and $107,000 is the more likely scenario. Traders should pay attention to the weekly bar's closure around the $108,364 level, as it could potentially lead to new all-time highs. Currently, Bitcoin is trading at $104,607.

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