The Bitcoin price prediction shows BTC trading at $24,040 as the coin appears to be gearing up for another upward move.
Bitcoin prediction statistical data:
- Bitcoin Price Now – $24,040
- Market cap of Bitcoin – $458.6 billion
- Circulating supply of Bitcoin – 19.1 million
- Total Bitcoin supply – 19.1 million
- Coinmarketcap Bitcoin Ranking – #1
BTC/USD Long Term Trend: Bearish (Daily Chart)
Resistance levels: $30,000, $32,000, $34,000
Support levels: $19,000, $17,000, $15,000
BTC/USD moves to cross the upper boundary of the channel at $24,500 as the coin prepares for the upside. At the time of writing, the first digital coin is likely to expand towards the $25,000 resistance level if the bulls put more pressure on the market.
Bitcoin Price Prediction: BTC/USD Push for More Upside
The bitcoin price currently sits above the 9-day and 21-day moving averages, any further upside moves above this barrier could locate potential resistance levels at $30,000, $32,000, and $34,000. Normally, when new uptrends appear, traders can use moving averages to gauge the strength of the trend. Nonetheless, if BTC/USD rises above the upper boundary of the channel, it could be a sign of durability and could likely result in a bullish continuation.
Moreover, if the price of Bitcoin does not increase; traders can see a drop in price below the moving averages, and a new low could take the price to the support levels at $19,000, $17,000 and $15,000 respectively. But as things stand, Bitcoin price is likely to rise as the Relative Strength Index (14) technical indicator crosses above the 60 level.
BTC/USD medium-term trend: going (4H chart)
BTC/USD is trending sideways above the 9-day and 21-day moving averages as bulls return to the market to push the centerpiece towards the upper boundary of the channel. Otherwise, the support level of $22,000 and below may come into play.
However, if the bulls push the market through the $24,000 resistance level, traders can expect a touch of the $25,000 resistance level, and breaking this level may push the price further towards the level of resistance at $26,000 and above as a technical indicator Relative Strength Index (14) dips below the 70 level, suggesting bearish movement.
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