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Bitcoin price prediction gains 2.37% as bulls continue to work hard to foster an uptrend from the opening price of $22,671.
Bitcoin Prediction Statistical Data:
- Bitcoin price now – $23,208
- Bitcoin Market Cap: $445 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: $27,000, $29,000, $31,000
Support levels: $20,000, $18,000, $16,000
BTC/USD is trading at the $23,208 resistance level above the 9- and 21-day moving averages after the king coin touched the daily high of $23,375. Since the past few days, the Bitcoin price has been heading towards the north, and in the context of east; A bullish move towards the $25,000 resistance level is expected.
Bitcoin Price Prediction: Will BTC break out of the $25k level?
If the Bitcoin price can continue the upward move above the 9-day and 21-day moving averages, the market price is likely to touch the $25,000 resistance level. However, the purpose of this move is to provide a resistance level that is above the upper boundary of the channel, as the technical indicator’s Relative Strength Index (14) continues to move within the overbought region.
Looking at the daily chart, BTC/USD may experience a quick pullback or selloff in case it touches the $22,000 support level, but if not; traders may see additional resistance at the $27,000, $29,000, and $31,000 levels. On the downside, if the market decides to drop, the Bitcoin price could drop below the 9-day moving average, and if that barrier fails to contain the selloff, BTC/USD could see a further drop towards support levels. of $20,000. , $18,000 and $16,000.
BTC/USD Medium Term Trend – Range (4-hour chart)
On the 4-hour chart, traders are expecting the coin to gain the lost momentum and it could trade above $24,000. Conversely, if the selling pressure still exists and keeps the kingcoin unable to move towards the upper limit of the channel, $21,000 and below may come into play.
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 $26,000 or higher. Meanwhile, the technical indicator Relative Strength Index (14) remains in the overbought region, suggesting more bullish signals may come into play.
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