{"id":755,"date":"2023-02-14T10:18:56","date_gmt":"2023-02-14T15:18:56","guid":{"rendered":"https:\/\/embarrdowns.com\/bitcoin-struggles-to-gain-momentum-trading-below-22k\/"},"modified":"2023-02-14T10:18:57","modified_gmt":"2023-02-14T15:18:57","slug":"bitcoin-struggles-to-gain-momentum-trading-below-22k","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/bitcoin-struggles-to-gain-momentum-trading-below-22k\/","title":{"rendered":"Bitcoin Struggles to Gain Momentum, Trading Below $22K"},"content":{"rendered":"

The price of Bitcoin has risen less than 1% over the past 24 hours to near $21,700, still below the zone around $23,000 that had marked the largest digital asset\u2019s trading range for weeks until a selloff last week.[0]<\/a><\/sup> Bitcoin is now at its lowest level since mid-January after paring gains from a rally that had seen prices jump 40% from the start of the year.[1]<\/a><\/sup><\/p>\n

Examining the 1-hour timeframe for Bitcoin, it is clear that the price is forming lower highs and is having difficulty pushing forward.[2]<\/a><\/sup> The price has been having difficulty surpassing the resistance of $21,900, which is evident at once.[2]<\/a><\/sup><\/p>\n

Analysts appear to have a long-term optimistic outlook on Bitcoin, yet the short-term is still unclear.[3]<\/a><\/sup>Although the cost of Bitcoin (BTC) decreased after an increase during the cryptocurrency market in January, the outlook on the cryptocurrency remains positive. The chart patterns are giving a signal to purchase, and some other indicators point to the fact that the original digital asset has left the bear market.[4]<\/a><\/sup><\/p>\n

At present, Bitcoin is trading at approximately $21,700 but is having trouble gaining traction in the shorter term.[2]<\/a><\/sup> For the last four days, it has been holding steady above the support level of $21,500, trying to rebound from this essential area.[2]<\/a><\/sup> In order for BTC to gain momentum, it must break past the primary resistance level of $22,400.[2]<\/a><\/sup> Let’s quickly examine the latest Bitcoin price prediction as of February 14th, 2023, to determine where the price is expected to go in the short term.[2]<\/a><\/sup><\/p>\n

At the moment, Bitcoin’s support is situated at $21,650 while the resistance is located at $21,800.[5]<\/a><\/sup> Conversely, Ethereum sank to its lowest level in a month.[6]<\/a><\/sup>The price has fluctuated between $1,400 and $1,500.[5]<\/a><\/sup> it has not yet acquired the strength to make a mid-term price recovery.[5]<\/a><\/sup><\/p>\n

It is expected that the US Federal Reserve will further decelerate their rate hikes, following the release of the core CPI expected to be at 5.5% for January, after printing 5.7% in December 2022.[7]<\/a><\/sup><\/p>\n

BTC reacted with a sudden price drop since the actual numbers for January were somewhat more than anticipated.[8]<\/a><\/sup><\/p>\n

0. <\/span>“War \u2018Just getting Started\u2019\u2014$1 Trillion Crypto Crash Sparks Serious Bitcoin And Ethereum Price Warning” Forbes, 14 Feb. 2023, https:\/\/www.forbes.com\/sites\/billybambrough\/2023\/02\/14\/war-is-just-getting-started-1-trillion-crypto-crash-sparks-serious-bitcoin-and-ethereum-price-warning\/<\/a><\/a><\/p>\n

1. <\/span>“Bitcoin Barely Budges After CPI. But Cryptos Still Feel Regulatory Pressures.” Barron’s, 14 Feb. 2023, https:\/\/www.barrons.com\/articles\/bitcoin-ethereum-price-crypto-markets-today-26a69413<\/a><\/a><\/p>\n

2. <\/span>“Bitcoin Price Prediction Daily (14-Feb-2023) A Quick Look at the 1-hour Timeframe” Bitcoinsensus, 14 Feb. 2023, https:\/\/www.bitcoinsensus.com\/bitcoin-price-prediction-daily-14-feb-2023-a-quick-look-at-the-1-hour-timeframe\/<\/a><\/a><\/p>\n

3. <\/span>“MATIC, HBAR, LDO and BIT gather strength as Bitcoin price rebounds” Cointelegraph, 12 Feb. 2023, https:\/\/cointelegraph.com\/news\/matic-hbar-ldo-and-bit-gather-strength-as-bitcoin-price-rebounds<\/a><\/a><\/p>\n

4. <\/span>“Bitcoin monthly chart flashes buy signal; Is BTC exiting bear market?” Finbold – Finance in Bold, 9 Feb. 2023, https:\/\/finbold.com\/bitcoin-monthly-chart-flashes-buy-signal-is-btc-exiting-bear-market<\/a><\/a><\/p>\n

5. <\/span>“Crypto Price Today: Bitcoin remains below $22,000; BNB, Solana & Polygon drop up to 6%” Business Today, 14 Feb. 2023, https:\/\/www.businesstoday.in\/crypto\/story\/crypto-price-today-bitcoin-remains-below-22000-bnb-solana-polygon-drop-up-to-6-370125-2023-02-14<\/a><\/a><\/p>\n

6. <\/span>“Bitcoin Gets Butterflies Ahead Of Valentine’s Day Inflation Data” Benzinga, 14 Feb. 2023, https:\/\/www.benzinga.com\/markets\/cryptocurrency\/23\/02\/30891929\/bitcoin-ethereum-dogecoin-get-butterflies-ahead-of-valentines-day-inflation-data-analyst-w<\/a><\/a><\/p>\n

7. <\/span>“Bitcoin holders brace for impact as BTC correlation with stocks increases ahead of US CPI release” FXStreet, 14 Feb. 2023, https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/bitcoin-holders-brace-for-impact-as-btc-correlation-with-stocks-increases-ahead-of-us-cpi-release-202302140754<\/a><\/a><\/p>\n

8. <\/span>“Bitcoin Drops Toward $21.5K on 6.4% US CPI Numbers for January” CryptoPotato, 14 Feb. 2023, https:\/\/cryptopotato.com\/bitcoin-drops-toward-21-5k-on-6-4-us-cpi-numbers-for-january\/<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The price of Bitcoin has risen less than 1% over the past 24 hours to near $21,700, still below the zone around $23,000 that had marked the largest digital asset\u2019s trading range for weeks until a selloff last week.[0]<\/a><\/sup> Bitcoin is now at its lowest level since mid-January after paring gains from a rally that had seen prices jump 40% from the start of the year.[1]<\/a><\/sup><\/p>\n

Examining the 1-hour timeframe for Bitcoin, it is clear that the price is forming lower highs and is having difficulty pushing forward.[2]<\/a><\/sup> The price has been having difficulty surpassing the resistance of $21,900, which is evident at once.[2]<\/a><\/sup><\/p>\n

Analysts appear to have a long-term optimistic outlook on Bitcoin, yet the short-term is still unclear.[3]<\/a><\/sup>Although the cost of Bitcoin (BTC) decreased after an increase during the cryptocurrency market in January, the outlook on the cryptocurrency remains positive. The chart patterns are giving a signal to purchase, and some other indicators point to the fact that the original digital asset has left the bear market.[4]<\/a><\/sup><\/p>\n

At present, Bitcoin is trading at approximately $21,700 but is having trouble gaining traction in the shorter term.[2]<\/a><\/sup> For the last four days, it has been holding steady above the support level of $21,500, trying to rebound from this essential area.[2]<\/a><\/sup> In order for BTC to gain momentum, it must break past the primary resistance level of $22,400.[2]<\/a><\/sup> Let’s quickly examine the latest Bitcoin price prediction as of February 14th, 2023, to determine where the price is expected to go in the short term.[2]<\/a><\/sup><\/p>\n

At the moment, Bitcoin’s support is situated at $21,650 while the resistance is located at $21,800.[5]<\/a><\/sup> Conversely, Ethereum sank to its lowest level in a month.[6]<\/a><\/sup>The price has fluctuated between $1,400 and $1,500.[5]<\/a><\/sup> it has not yet acquired the strength to make a mid-term price recovery.[5]<\/a><\/sup><\/p>\n

It is expected that the US Federal Reserve will further decelerate their rate hikes, following the release of the core CPI expected to be at 5.5% for January, after printing 5.7% in December 2022.[7]<\/a><\/sup><\/p>\n

BTC reacted with a sudden price drop since the actual numbers for January were somewhat more than anticipated.[8]<\/a><\/sup><\/p>\n

0. <\/span>“War \u2018Just getting Started\u2019\u2014$1 Trillion Crypto Crash Sparks Serious Bitcoin And Ethereum Price Warning” Forbes, 14 Feb. 2023, https:\/\/www.forbes.com\/sites\/billybambrough\/2023\/02\/14\/war-is-just-getting-started-1-trillion-crypto-crash-sparks-serious-bitcoin-and-ethereum-price-warning\/<\/a><\/a><\/p>\n

1. <\/span>“Bitcoin Barely Budges After CPI. But Cryptos Still Feel Regulatory Pressures.” Barron’s, 14 Feb. 2023, https:\/\/www.barrons.com\/articles\/bitcoin-ethereum-price-crypto-markets-today-26a69413<\/a><\/a><\/p>\n

2. <\/span>“Bitcoin Price Prediction Daily (14-Feb-2023) A Quick Look at the 1-hour Timeframe” Bitcoinsensus, 14 Feb. 2023, https:\/\/www.bitcoinsensus.com\/bitcoin-price-prediction-daily-14-feb-2023-a-quick-look-at-the-1-hour-timeframe\/<\/a><\/a><\/p>\n

3. <\/span>“MATIC, HBAR, LDO and BIT gather strength as Bitcoin price rebounds” Cointelegraph, 12 Feb. 2023, https:\/\/cointelegraph.com\/news\/matic-hbar-ldo-and-bit-gather-strength-as-bitcoin-price-rebounds<\/a><\/a><\/p>\n

4. <\/span>“Bitcoin monthly chart flashes buy signal; Is BTC exiting bear market?” Finbold – Finance in Bold, 9 Feb. 2023, https:\/\/finbold.com\/bitcoin-monthly-chart-flashes-buy-signal-is-btc-exiting-bear-market<\/a><\/a><\/p>\n

5. <\/span>“Crypto Price Today: Bitcoin remains below $22,000; BNB, Solana & Polygon drop up to 6%” Business Today, 14 Feb. 2023, https:\/\/www.businesstoday.in\/crypto\/story\/crypto-price-today-bitcoin-remains-below-22000-bnb-solana-polygon-drop-up-to-6-370125-2023-02-14<\/a><\/a><\/p>\n

6. <\/span>“Bitcoin Gets Butterflies Ahead Of Valentine’s Day Inflation Data” Benzinga, 14 Feb. 2023, https:\/\/www.benzinga.com\/markets\/cryptocurrency\/23\/02\/30891929\/bitcoin-ethereum-dogecoin-get-butterflies-ahead-of-valentines-day-inflation-data-analyst-w<\/a><\/a><\/p>\n

7. <\/span>“Bitcoin holders brace for impact as BTC correlation with stocks increases ahead of US CPI release” FXStreet, 14 Feb. 2023, https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/bitcoin-holders-brace-for-impact-as-btc-correlation-with-stocks-increases-ahead-of-us-cpi-release-202302140754<\/a><\/a><\/p>\n

8. <\/span>“Bitcoin Drops Toward $21.5K on 6.4% US CPI Numbers for January” CryptoPotato, 14 Feb. 2023, https:\/\/cryptopotato.com\/bitcoin-drops-toward-21-5k-on-6-4-us-cpi-numbers-for-january\/<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":754,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/755"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=755"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/754"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}