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The Bitcoin price prediction shows that BTC may start to fall below the moving averages as the coin heads south.
Bitcoin Prediction Statistical Data:
- Bitcoin price now – $23,332
- Bitcoin Market Cap: $455.8 Billion
- Bitcoin circulating supply: 19.2 million
- Total Bitcoin supply: 19.2 million
- Bitcoin Coinmarketcap Ranking – #1
BTC/USD Long-Term Trend: Bearish (Daily Chart)
Key levels:
Resistance Levels: $28,000, $30,000 $32,000
Support levels: $20,000, $18,000, $16,000
BTC/USD may face a setback that could drag the coin below the lower boundary of the channel, and the king coin is likely to trend further down if sellers turn up the pressure. Right now, Bitcoin (BTC) is trading around the $23,332 level.
Bitcoin Price Prediction: BTC Could Fall Into The Negative Zone
Bitcoin price is likely to cross below the 9-day moving average before heading to the 21-day moving average when the king coin hits the daily low at $23,245. If the price were to break below the $23,000 support level, it is likely to face more downtrends. However, further bearish movement could locate supports at $20,000, $18,000, and $16,000, leaving room for BTC to fall further.
Additionally, the technical indicator Relative Strength Index (14) could pull back below the 70 level as trading volume supports the bears. Meanwhile, if the bulls push the price above the upper limit of the channel, BTC/USD can move higher to find resistance levels at $28,000, $30,000, and $32,000.
BTC/USD Medium Term Trend – Range (4-hour chart)
On the 4-hour chart, Bitcoin price is holding within the 9-day and 21-day moving averages, but immediate support is likely to come in around the $23,000 level. The price is likely to drop below this level if the bears continue to dominate the market.
However, a further move lower could reach critical support at the $22,000 level and below, while resistance could be found above the 9-day moving average at the $25,000 and higher resistance level. Meanwhile, the price of Bitcoin is likely to face the downside as the technical indicator Relative Strength Index (14) crosses below the 50 level.
Bitcoin Alternatives
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