BTC, DOGE and SHIB Price Analysis for January 23


On the last day of the week, the prices of some currencies have recovered somewhat.

Top Coins from CoinMarketCap

BTC/USD

Despite a slight rebound today, Bitcoin (BTC) price has fallen 17% in the past week.

BTC/USD Chart by TradingView

On the daily chart, Bitcoin (BTC) has not continued its decline today relative to increased trading volume. Currently, neither bulls nor bears dominate as the price is in the middle of the channel.

If buyers can keep the price above $35,000, the correction could push BTC toward the $39,573 mirror level by the end of the month.

Bitcoin is trading at $35,869 at the time of writing.

DOGE/USD

Unlike Bitcoin (BTC), the price of Dogecoin (BTC) is up 4% since yesterday.

DOGE/USD Chart by Trading View

Despite the decline, the price has bounced back to the USD 0.1310 support level. Until it stays above it, bulls will continue to control the situation in the market. But in the event that seller pressure continues and a breakout occurs, the fall could last as far as the psychological area around $0.1.

All in all, one should pay attention to the support level and buyer reaction.

DOGE is trading at $0.1392 at the time of writing.

SHIB/USD

SHIB is the biggest winner in the top 20 coins today. The meme coin has grown by 10.33% in the past 24 hours.

SHIB/USD Chart by TradingView

From a technical standpoint, SHIB is trading similarly to DOGE as it has also bounced back from its support level at $0.00002010. However, it is too early to consider a possible market reversal as the coin has not yet gathered enough strength. In this case, the most likely price action is sideways trading in the range around $0.000020-$0.000021.

SHIB is trading at $0.00002221 at the time of printing.

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