BTC/USD could become attractive above $23,000

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The Bitcoin price prediction reveals that BTC may break the current pattern in the short term and move towards the $23,500 level.

Bitcoin Prediction Statistical Data:

Bitcoin price now: $23,061
Bitcoin Market Cap: $443.9 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, $23,000, $21,000

BTC/USD is currently trading at $23,061 with a gain of 0.54% since the start of trading today. Bitcoin price may cross above the 9-day moving average. Also, for BTC/USD to stay above this barrier, it could make many traders feel that the $23,000 support level could be quite strong.

Bitcoin Price Prediction: Would BTC Price Break Higher?

Bitcoin price might not fall much due to today’s trading, but if the first digital currency falls below the $23,000 support level, it could change the direction of the coin to look towards the lower boundary of the channel. Alternatively, Bitcoin (BTC) can recapture the previous resistance level of $24,000 to head higher. If successful, BTC/USD could target the resistance levels of $28,000, $30,000, and $32,000 respectively.

However, the Relative Strength Index of the technical indicator (14) is moving above the 60 level, as the currency may consolidate around this level. Furthermore, this could mean that there may still be room for the bears to explore if it crosses the 21-day moving average. Therefore, the support levels of $20,000, $18,000, and $16,000 can be met.

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

From a technical standpoint, on the 4-hour chart, the technical indicator Relative Strength Index (14) is now rallying towards the 50 level, and this can confirm the move higher if it crosses above it. Meanwhile, in addition to the above, there is a bit of bullish divergence as the coin crosses above the 9-day moving average to continue the bullish move.

BTCUSD – 4 hour chart

However, if the price of Bitcoin falls below the lower boundary of the channel, the market price could reach a support level of $22,000 or lower. Meanwhile, if the current market value rises and crosses above the 21-day moving average, the Bitcoin price could reach the potential resistance level of $24,000 or higher.

Bitcoin Alternatives

Bitcoin price remains above $23k and if the price does not continue higher, a correction to the downside could be in the offing and the first key support is near the $22,500 and $22,000 levels. However, Meta Masters Guild is at the forefront of the web3 gaming revolution, developing top-notch mobile games built on the blockchain. Therefore, merchants are expected to be a part of the future of gaming as $3.1 million has been raised in pre-sale so far.

Meta Masters Guild – Play and earn cryptocurrency