BTC/USD Could See Another Drop Below $23,500

The Bitcoin price prediction reveals that BTC has yet to gain strength above the $25,000 resistance level as the coin ranges.

Bitcoin Prediction Statistical Data:

• Bitcoin price now – $23,826
• Bitcoin Market Cap: $458.89 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: $21,000, $20,000, $19,000

After another failure to cross above the $25,000 resistance level; BTC/USD is seen to slide below the 9-day moving average. Therefore, the price of Bitcoin could start another decline if the bulls fail to propel the coin higher. At the opening of today’s trading; The king coin touches the resistance level of $24,495 but starts to push the coin below the 9-day moving average.

Bitcoin Price Prediction: Bitcoin (BTC) May Head South

As the price of Bitcoin remains within the moving averages, heading towards the lower boundary of the channel may increase selling pressure. Therefore, if there are further losses, the price could break the main supports at $21,000, $20,000 and $19,000. Meanwhile, the Relative Strength Index of the technical indicator (14) is moving in the same direction around the 40 level. , suggesting a lateral movement.

On the other hand, if the king coin crosses above the 9-day moving average; It could be heading towards the upper limit of the channel and a clear break above this barrier can see the coin reach the resistance levels of $28,000, $29,000 and $30,000.

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

According to the 4-hour chart, the coin may gain lost momentum if the coin moves to cross above the upper limit of the channel. At the moment, the volatility still lingers and the selling pressure is still there as this could drive the currency lower. Meanwhile, $22,000 and below may come into play if BTC breaks below the lower limit of the channel.

In the meantime, if the buyers can reinforce and power the market, traders can expect a move higher towards the upper boundary of the channel, and breaking this barrier may allow the bulls to reach the resistance level of $26,000 or higher. However, the Relative Strength Index (14) is likely to break above the 40 level, which shows that the market could continue to move higher.

Bitcoin Alternatives

Bitcoin price is likely to resume an up move as it retests the previous low, but if the bulls fail to break the $25,000 resistance level, the market may be forced into a range move below average. 21 day mobile. Meanwhile, there has been a rally around the Fight Out (FGHT) token in recent weeks. A good number of cryptocurrency enthusiasts have become fond of the trajectory of the cryptocurrency project. In the ongoing presale, nearly $5 million has been raised so far.

Fight Out (FGHT) – Move to win in the metaverse

• CertiK audited and CoinSniper KYC verified
• Early stage presale live now
• Earn free cryptocurrencies and meet your fitness goals
• LBank Laboratories Project
• Associated with Transak, Block Media
• Rewards and participation bonuses