$BTC
Bitcoin Price Analysis
The bulls purchased the dip in Bitcoin near $37,980 on Jan. 22, pushing the price to the 9-day exponential moving average ($42,120) on Jan. 25.
The BTC/USDT pair is likely to face a stiff battle between the bulls and the bears near the moving averages. If the pair rises above the 50-day exponential moving average ($42,904), the next stop could be $44,700. The bulls may again face stiff opposition from the bears at this level.
If the price turns down from the current level or the overhead resistance, the pair may remain range-bound between $44,700 and $37,980 for some time. A break below $37,980 could start the next leg of the downtrend to $34,800.
