The Bitcoin price prediction shows that BTC is currently down 3.78% after breaking through the negative side terribly.
Bitcoin prediction statistical data:
- Bitcoin Price Now – $21,728
- Market cap of Bitcoin – $422.2 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: $15,000, $13,000, $11,000
The daily chart reveals that BTC/USD is trading below the $22,000 level. As the price of Bitcoin fails to stay above this level, the coin could likely experience another sharp decline below the $21,500 support level. However, the red 9-day MA line is likely to cross below the green 21-day MA line as the relative strength index (14) crosses below the 50 level.
Bitcoin Price Prediction: Bitcoin (BTC) Could Fall More
The daily chart reveals that the bitcoin price refuses to shift to the positive side as the coin prepares for a further drop below the $21,500 level. However, the first level of support could be around $21,000. Below that, further supports lie at $15,000, $13,000 and $11,000. Meanwhile, a break above the previous $22,665 level could allow Bitcoin to retest the $23,000 level.
Now, the price of Bitcoin is likely to break below the 21-day moving average, which could become new support. Additionally, traders can see that the price of Bitcoin is poised to drop further. More so, if the coin moves higher, the centerpiece could locate potential resistance levels at $30,000, $32,000, and $34,000.
BTC/USD Medium-Term Trend: Range (4H Chart)
The 4-hour chart shows that Bitcoin bulls are likely to come back into the market pushing the BTC price above the $23,000 resistance level. Although Bitcoin price has yet to break above $22,500, it is still bouncing back.
Looking at the chart, Bitcoin price is likely to break above the 9-day and 21-day moving averages as the possible upward move could push the price to the nearest resistance level at $24,000 and above. On the other hand, any further bearish movement below the lower boundary of the channel may locate support at $20,500 and below. The Relative Strength Index (14) technical indicator is heading towards the 50 level, suggesting a bullish move.
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