BTC is now above $38K and is holding above $38K for past 12 hours.
BTC faces a very strong resistance at $40K. With few positive news coming this week, it is highly likely that BTC will be above $40K. However, bears are hard to defeat at this time. BTC is on the move as its price has increased 7.20% in past 7 days and at time of writing it is trading for $38,065 recovering from lows of $35,000. BTC past 24 hours trading volume is over $17 Billion. BTC price is down now -44.39% from ATH of $68,789.63
BTC dominance on the other hand is decreasing from 44.11% to 41.6% since October 2021. Bitcoin Fear and Greed Index is now on 29, which is “fear” instead of “extreme fear” a few days ago.
Bitcoin Fear and Greed Index is 29 – Fear
Current price: $38,073 pic.twitter.com/JiSM7SgZEC
— Bitcoin Fear and Greed Index (@BitcoinFear) January 30, 2022
Daily RSI shows BTC is oversold in the market and is currently trying to break above the 30% level. BTC will be in accumulation zone, which will show a short term price hike.
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