BTC/USD seeks a peak above $24,600

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Bitcoin price prediction gains 0.16% as bulls continue to work hard on BTC to foster an uptrend towards the $25,000 resistance level.

Bitcoin Prediction Statistical Data:

Bitcoin price now: $24,647
Bitcoin Market Cap: $476.2 Billion
Bitcoin circulating supply: 19.2 million
Total Bitcoin supply: 19.2 million
Bitcoin Coinmarketcap Ranking – #1

BTC/USD Long-Term Trend: Bullish (Daily Chart)

Key levels:

Resistance levels: $28,000, $29,000, $30,000

Support levels: $22,000, $21,000, $20,000

BTC/USD is trading hands at a resistance level of $24,647 as the market price holds above the 9-day and 21-day moving averages, indicating a bullish move. For the past few days, the Bitcoin price has been moving positively and against the backdrop of the Bitcoin exchange rate forecast; a resistance application of $25k is expected.

Bitcoin Price Prediction: Will BTC Break Above $25k?

If the Bitcoin price can cross above the $25,000 resistance level, the market price is likely to touch the potential $26,000 resistance level. This is where traders should expect buyers to fight for a further rise in BTC/USD and further development of the uptrend. Meanwhile, Bitcoin price is likely to experience a quick pullback or sell-off should it touch the crucial $25,000 resistance level.

Therefore, any further move higher could reach the resistance level of $28,000, $29,000, and $30,000 respectively. On the downside, if the market crosses below the 9-day and 21-day moving averages, BTC/USD could head towards the lower boundary of the channel, and if that support fails to hold selloff, Bitcoin price could see affected. a further decline and it could reach the support levels at $22,000, $21,000 and $20,000. Also, the market can gain more if the Relative Strength Index (14) holds above the 60 level.

BTC/USD Medium Term Trend – Range (4-hour chart)

Looking at the 4-hour chart, the Bitcoin price is bullish and could cross above the upper limit of the channel if bullish pressure increases. Conversely, if selling pressure returns to the market and drives the king coin south, $23,000 or less may come into play.

BTCUSD – 4 hour chart

However, to the extent that buyers hold the price above the 9- and 21-day moving averages, traders can expect a strong move higher that could hit resistance at $27,000 or higher. Meanwhile, the technical indicator Relative Strength Index (14) is above the 60 level, which suggests more bullish signals may come into play.

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