After hitting the daily high of $21,450, the Bitcoin price forecast shows that BTC could begin a downward correction.
Bitcoin prediction statistical data:
- Bitcoin Price Now – $21,309
- Market cap of Bitcoin – $406.5 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)
Key levels:
Resistance levels: $30,000, $32,000, $34,000
Support levels: $15,000, $13,000, $11,000
BTC/USD moves sideways around the $21,309 resistance level as buying pressure cools. The market price is hovering below the 9-day and 21-day moving averages to form a bottom near $21,000 before stabilizing. So far, BTC/USD has yet to break above the 9-day moving average, but is up 0.23%.
Bitcoin Price Prediction: What to Expect From Bitcoin (BTC)
The bitcoin price the prediction currently varies. A decisive break below the $21,000 support could intensify the selling pressure. Therefore, if the bears are pushing the market price lower, the consolidation may turn into a bear run. The current sideways movement is likely to continue in the next few days, but the next hurdle for the king coin may emerge at $25,000, but that won’t stop the higher price moves.
However, the technical indicator Relative Strength Index (14) is below the 50 level, a reversal is possible but only if the resistance at $24,000 is recovered. The persistence trade above this level can technically push the coin to the resistance levels of $30,000, $32,000, and $34,000 while supports lie at $15,000, $13,000, and $11,000.
BTC/USD medium-term trend: going (4H chart)
Bitcoin (BTC) has yet to slide below $21,000 since today’s start, but the coin is on course to rebound. Bitcoin price sits within the 9-day and 21-day moving averages and may take some time to trade above $23,000. Right now, the Bitcoin price is currently trading around the $21,290 level.
However, if the bulls energize the market, the price could likely test the resistance levels at $23,500 and above. In other words, if the bears are to drive it down, the support levels of $19,500 and below can be visited when the Relative Strength Index (14) moves above the 40 level indicating a bearish signal. .
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