CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » BTC » Bitcoin Price Analysis: BTC Reaches 14-Days High, But The Real Test Hadn’t Started Yet

Bitcoin Price Analysis: BTC Reaches 14-Days High, But The Real Test Hadn’t Started Yet

Author: Yuval Gov

Last Updated Jan 6, 2020 @ 17:05
Getting your audio player ready...

So far, the new decade is in favor of Bitcoin’s Bulls. Following the break-out from two days ago, the price finally managed to get over the $7300 – $7400 resistance area, while setting a new 2-week high at $7600 (Bitstamp), as of writing these lines.

While the global stock markets are seeing heavy red, Bitcoin is enjoying the war talks between the US and Iran, following the death of General Soleimani by the US.

As can be seen on the following 4-hour chart, over the past days Bitcoin had been paving its way up in the marked ascending channel. However, the real test of this channel will arrive when Bitcoin will reach the $7700 – $8000 price area.

The last contains the 100-days moving average line (white), along with the most significant descending trend-line (started in June 2019, at the yearly high) and of course, the horizontal resistance lines of $7700 and $8000.

From below, the first support had now become the $7300 – $7400 area, along with the 50-days moving average line (marked pink). Further below lies $7200, along with the mid-term ascending trend-line on the daily chart. The next level is $7000 and $6800.

– The RSI Indicator: The momentum indicator wasn’t in this high of 56 for the past two months (!). This is a bullish sign and might indicate on a quiet accumulation of Bitcoin by the bulls.

– Trading volume: Despite the decent gains, the volume is not yet here. As mentioned in our previous analysis, January 3rd which ended as a reversal day, was followed by a decent amount of volume. However, heavy bag-holders are not here yet.

Total Market Cap: $203.6 billion

Bitcoin Market Cap: $137.6 billion

BTC Dominance Index: 67.6%

*Data by CoinGecko

BTC/USD BitStamp 4-Hour Chart

btc_jan6_4h-min

BTC/USD BitStamp 1-Day Chart

btc_jan6_d-min

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!


Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.
Tags: Bitcoin (BTC) Price
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Yuval Gov
More posts by this author

Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU - Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO. Contact Yuval: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

10 Best Meme Coins to Watch in June 2025

10 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!