BTC/USD trades above the $30,700 level

Bitcoin price prediction shows BTC trading at $30,476 as the coin seems to be gearing up for another upward move.

Bitcoin Prediction Statistical Data:

• Bitcoin price now: $30,476
• Bitcoin Market Cap: $584.1 Billion
• Bitcoin circulating supply: 19.3 million
• Total Bitcoin supply: 19.3 million
• Bitcoin Coinmarketcap Ranking – #1

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

Key levels:

Resistance levels: $35,000, $37,000, $39,000

Support levels: $27,000, $25,000, $23,000

BTC/USD is trading above the 9-day and 21-day moving averages at $30,476 as the coin prepares to earn additional higher levels. As of this writing, the first digital currency is likely to extend towards the $31,000 resistance level if the bulls put more pressure on the market.

Bitcoin Price Prediction: Bitcoin (BTC) May Cross Above $31,000

Bitcoin price is heading higher, any further bullish move above the upper limit of the channel may locate potential resistance levels at $35,000, $37,000, and $39,000. Normally, when new uptrends emerge, traders can use the moving averages to gauge the strength of the trend. However, if BTC/USD rises above the upper limit of the channel, this could be a sign of sustainability and will likely result in a bullish continuation.

Also, if the price of Bitcoin does not go up; traders may see a price cut below the moving averages, and a further low could take the price to the support levels at $27,000, $25,000 and $23,000 respectively. But as it stands, the price of Bitcoin is likely to rise as the Relative Strength Index (14) technical indicator crosses above the overbought region.

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

However, let’s assume that the bulls push the market above the channel. In that case, traders can wait for a retest of the $30,700 resistance level, breaking this level may further push the price towards the $32,000 resistance level and higher, as the technical indicator’s Relative Strength Index ( 14) remains within the overbought region, suggesting a bullish signal.

Conversely, if the king coin slides below the 9-day and 21-day moving averages and heads towards the lower boundary of the channel, it could be found at the support level of $29,000 or lower.

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