BTC/USD could form decent support at the $22,500 level

Bitcoin price prediction trades below $23,000 but could gain bullish momentum if there is a clear bullish move.

Bitcoin Prediction Statistical Data:

• Bitcoin price now – $22,856
• Bitcoin Market Cap: $441.3 Billion
• Bitcoin circulating supply: 19.2 million
• Total Bitcoin supply: 19.2 million
• Bitcoin Coinmarketcap Ranking – #1

BTC/USD Long-Term Trend – Range (Daily Chart)

Key levels:

Resistance levels: $27,000, $28,000, $29,000

Support levels: $19,500, $18,500, $17,500

The daily chart reveals that BTC/USD was unable to recapture the previous resistance level of $23,500 as the price of Bitcoin continues to oscillate within the channel. However, if the king coin falls below the 9-day and 21-day moving averages, the first level of support could be located at $22,500. Below this, critical supports can be found at $19,500, $18,500, and $17,500.

Bitcoin Price Prediction: Will Bitcoin Price Regain $23k?

Today’s trade marks another day of Bitcoin price failing to break higher as it looks to set up another few days of negative price below $23,000. Meanwhile, a break above the opening price of $23,244 would have seen the first digital asset reach the nearest resistance at the $23,500 level. In other words, traders can see that Bitcoin (BTC) does not break out when the technical indicator Relative Strength Index (14) moves to cross below the 60 level.

However, the Bitcoin price could not go higher as it could head towards the lower boundary of the channel. Although the candle has not yet closed, the bulls are likely to end up closing above the opening price of $23,244. Also, if the market price sustains above the moving averages, any move higher above the upper bound of the channel could reach the resistance levels of $27,000, $28,000 and $29,000.

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

Looking at the 4 hour chart, it is likely that the bears will return to the market as the bulls failed to push the coin higher. However, $22,200 or less may come into play if bearish momentum increases the market move and the technical indicator’s Relative Strength Index (14) crosses below the 40 level, suggesting bearish signals in the market.

However, if the buyers hijack the current move and push it higher, traders can wait for a retest at a resistance level of $23,500; Breaking this level may allow the bulls to reach the $23,800 resistance level and higher.

Bitcoin Alternatives

Bitcoin price remained well-bid above the $22,500 support, but if the king coin fails to break above the $23,500 resistance, another downward correction could begin. However, Meta Masters Guild (MEMAG) is the latest token on the market, with the sole purpose of creating a mobile gaming ecosystem that allows you to earn rewards in exchange for having fun and playing, it is running its pre-sale program with almost $4 million. has been raised up to now.

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