The Bitcoin price prediction shows BTC touching the $23,700 resistance level as the coin prepares for another move higher.
Bitcoin prediction statistical data:
- Bitcoin Price Now – $23,245
- Market cap of Bitcoin – $443.6 billion
- Circulating supply of Bitcoin – 19.0 million
- Total Bitcoin supply – 19.0 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: $17,000, $15,000, $13,000
BTC/USD is trading above the 9-day and 21-day moving averages at $23,245 as the coin prepares to gain further bullish movement. Today, the first digital asset is likely to extend above the upper boundary of the channel to reach the nearest resistance level at $24,000 if the bulls put more pressure on the market.
Bitcoin Price Prediction: Is $25,000 Resistance Coming For BTC?
At the time of writing, the bitcoin price lies above the 9-day and 21-day moving averages, any further upside moves above the $25,000 resistance level may locate potential resistance levels at $30,000, $32,000, and $34,000. However, when new uptrends gather, traders can use the moving averages as a pivot resistance point to gauge the strength of the trend. Therefore, if BTC/USD rises above the channel, it could be a sign of sustainability and could lead to a bullish continuation.
On the contrary, if the price of BTC does not rise; traders can see a drop in price towards the lower boundary of the channel, and a new low could take the price to the support levels at $17,000, $15,000 and $14,000 respectively. As it stands, Bitcoin price is likely to rise as the Relative Strength Index (14) technical indicator crosses above the 60 level.
BTC/USD Medium-Term Trend: Bullish (4H chart)
According to the 4-hour chart, the price of Bitcoin is heading north as the bulls return to the market holding the coin above the 9-day and 21-day moving averages. However, if BTC/USD slides lower, the support level of $22,000 and below may be in focus.
Nevertheless, if the bulls keep the market above the moving averages, traders can expect a touch of the $24,000 resistance level, and breaking this level may push the price further towards the $25,000 resistance level. $ and higher, as the Relative Strength Index (14) technical indicator remains above the 60 level, suggesting bullish movement.
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