BTC/USD keeps moving around the $30,500 level

The Bitcoin price prediction shows that BTC follows the sideways movement as the real coin fails to cross the channel.

Bitcoin Prediction Statistical Data:

• Bitcoin price now: $30,399
• Bitcoin Market Cap: $586.4 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: $36,000, $38,000, $40,000

Support levels: $26,000, $24,000, $22,000

At time of writing, BTC/USD is bound for an increase in volatility, but it appears there is no room for further gains after experiencing bullish pressure in recent days. Bitcoin (BTC) is currently hovering around $30,399, but has not been able to cross above the upper limit of the channel.

Bitcoin Price Prediction: BTC Price May Pull Back to Gain More

Looking at the daily chart, the Bitcoin price could see more sideways price action as additional losses could be in store until there is a change in price movement. However, as the price of Bitcoin varies, the coin could rise and cross the upper limit of the channel, but if not, it could head lower. However, with the Relative Strength Index (14) technical indicator continuing to move around the 70 level, this could mean that the king coin may gain a bit before heading south.

From above, the rally could set in bit by bit, as the bulls can push Bitcoin price above the $31,000 resistance level, and a sustainable move above this level could allow for a prolonged rally in the direction of the bulls. possible resistance levels of $36,000. $38,000 and $40,000. On the downside, any move lower below the 9-day and 21-day moving averages can see Bitcoin price reach the $26,000, $24,000, and $22,000 supports.

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

According to the 4-hour chart, the Bitcoin price is within the moving averages. BTC/USD may head towards the upper limit of the channel as the market moves sideways. However, if the price crosses above the channel, it could locate the resistance level of $32,000 or higher.

However, if the bearish move resumes, the Bitcoin price may head towards the lower boundary of the channel and could touch the support level of $29,000 or below. However, the Technical Indicator Relative Strength Index (14) could slide below the 50 level to confirm the bearish move.

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