BTC Varies Below Its Recent High, but It Faces a Drop to $20K

Bitcoin Trades Below the $21K Barrier, but It Faces a Drop to $20K – January 15, 2022

Following the current price surge, Bitcoin is difficult to maintain above the recent high as it faces a drop to $20K. The biggest cryptocurrency as of yesterday rose to a high of $21,378 before falling back. BTC’s price is currently circling just around the psychological $20,000 mark.

Bitcoin Price Statistics Data:
•Bitcoin price now – $20,621.77
•Bitcoin market cap – $397,395,488,114
•Bitcoin circulating supply – 19,262,737 BTC
•Bitcoin total supply – $433,498,780,488
•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000

Bitcoin has returned to the historical price level of $21,470 as a resistance level. Bitcoin reached a high of $21,378 thanks to buyers. In line with the market, the price of BTC has reached bullish fatigue. The cryptocurrency asset is currently trading just over the $20,000 level of support. If the current support persists, the bullish trend will continue. Similarly, if the current resistance level of $21,470 is breached, Bitcoin would embark on a surge to highs of $22,794 and $25,068. If the bears’ breach below the $20,000 support, the present upswing may come to an end. The cryptocurrency will continue to fall above the $18,391 breakthrough milestone. Bitcoin is severely overbought, with the Relative Strength Index for Period 14 at level 83. Bitcoin will fall further if sellers emerge in the market’s overbought zone.

A Prominent US College Teaches Students About Bitcoin

Following the initial Bitcoin course, the professor announced a “Programming Bitcoin” course in which students will learn how to “create a Bitcoin library from scratch.” With Texas A&M now being the newest U.S. College to offer a Bitcoin course to some of its 74,000+ students, the use of Bitcoin and cryptocurrencies in the classroom is continuing to soar. Associate Professor Korok Ray of Texas A&M’s Mays Business School, who will be instructing the “Bitcoin Protocol” course to students in the College of Engineering and Mays Business School when the Spring Semester begins on January 17, announced on January 13. In the four-part Twitter discussion, Ray said that “Programming Bitcoin” would adhere to the Bitcoin Protocol and teach students how to “create a Bitcoin library from scratch.”The lecturer went on to say that it took “months” of arduous labor to finally win approval from the school’s relevant curriculum committee body.

Bitcoin is currently trading below the recent high but faces a drop to $20K. The resistance level has been tried three times since January 14 by the BTC price, but the rise has not been able to restart. If the price of Bitcoin declines and stays above the existing support, a new uptrend will begin. If the price breaks below the $20,000 support, the decline will resume.

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