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HomeCryptoBitcoin Price (BTCUSD) Resumes Upward Movement – Forecast for January 22, 2025

Bitcoin Price (BTCUSD) Resumes Upward Movement – Forecast for January 22, 2025

Bitcoin (BTCUSD) has resumed its upward movement after a brief decline in previous sessions, approaching the $108350.45 level. This price action supports the continuation of the primary bullish trend, with a potential breach of this level paving the way for a rally towards the $112000.00 target.

The 50-period Exponential Moving Average (EMA50) continues to provide support for the ongoing bullish momentum. However, if the price breaks below $101855.00, it would put Bitcoin under negative pressure, potentially driving the price towards the $95195.00 zone before any further attempts to recover.

The expected trading range for today is between $103500.00 (support) and $109000.00 (resistance).

Trend Outlook: Bullish

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