The Bitcoin price prediction shows BTC trading at $23,346 as the coin appears to be gearing up for a bullish move.
Bitcoin prediction statistical data:
Bitcoin Price Now – $23,346
Market cap of Bitcoin – $446.2 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: $18,000, $16,000, $14,000
Despite the highest market capitalization, BTC/USD seems to be waiting for an opportunity for a positive or negative breakout. The first digital crypto is trading above the 9-day and 21-day moving averages. However, Bitcoin price is likely to expand towards the $24,000 resistance level if it breaks through the channel.
Bitcoin Price Prediction: Is $25,000 Resistance Coming For BTC?
It is likely that the first digital asset will touch the $25,000 resistance level as the bitcoin price remains above the 9-day and 21-day moving averages. Any further upside moves above this barrier may place potential resistance levels at $30,000, $32,000, and $34,000. Meanwhile, 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 towards the upper boundary of the channel, it could be a sign of durability 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 below the moving averages, and a new low could take the price to the support levels at $18,000, $16,000 and $14,000 respectively. For now, the price of Bitcoin is likely to rise as the technical indicator Relative Strength Index (14) may break above the 60 level.
BTC/USD medium-term trend: going (4H chart)
According to the 4-hour chart, Bitcoin price is moving higher as bulls return to the market. The centerpiece is likely to break above the 9-day and 21-day moving averages, otherwise, the support level of $21,000 and below could be in focus.
However, if the bulls push the market above the 9 and 21 day moving averages, traders can expect a touch of the $24,000 resistance level, breaking this level can push the price further towards the level of resistance at $26,000 and above while the technical Relative Strength Index (14) indicator moves to cross the 50 level, suggesting a bullish signal.
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