BTC/USD falls below $22,000, price looks south

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Bitcoin Price Prediction Loses Traction As BTC Heads South; losses are likely to continue if additional supports are broken.

Bitcoin Prediction Statistical Data:

Bitcoin price now: $21,904
Bitcoin Market Cap: $422.3 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: $25,000, $27,000, $29,000

Support levels: $20,000, $18,000, $16,000

From the past few days, traders can easily see that BTC/USD is back in the red zone posting major losses of 4.62% the day after starting trading at $22,963. However, the market movement has an intraday high of $23,011; though the world’s largest crypto touches the support level of $21,700 before turning back to where it is currently trading at $21,904.

Bitcoin Price Prediction: Bitcoin (BTC) Ready to Dive Further

Bitcoin price is moving towards the $21,500 support level, after marking $21,700 as the current daily low in the market. Does this mean that Bitcoin (BTC) is finally looking for a new low? As the daily volume candle supports the bears, along with the 9-day moving average crossing below the 21-day moving average, it can be assumed that a stronger move lower may emerge on the next negative move.

However, BTC/USD is struggling to hold the $22,000 level, if the coin continues to trend down, the technical indicator Relative Strength Index (14) is likely to cross below the 50 level, and the next support levels can reach $20,000, $18,000 and $16,000 respectively. Conversely, if the coin moves and crosses above the upper boundary of the channel, further bullish movement could reach the resistance levels of $25,000, $27,000, and $29,000.

BTC/USD Medium Term Trend: Bearish (4-hour chart)

On the 4-hour chart, the Bitcoin price remains below the 9-day and 21-day moving averages to create a new low. However, if the bulls gather enough strength and cross above the moving averages; the bullish move may approach the $22,600 resistance level and higher.

BTCUSD – 4 hour chart

On the downside though, immediate support could be found below the lower boundary of the channel to reach major support at the $21,500 level. The price is likely to fall further and move towards the critical support level at $21,200 or below if the bears put more pressure on the market, therefore the Relative Strength Index (14) moves towards the region of oversold to increase the bearish movement.

Bitcoin Alternatives

At the time of writing, the Bitcoin price is struggling to stay above $22,000 as the king coin could drop considerably if there is a close below the $21,000 support level. However, a new token better named Meta Masters Guild (MEMAG) has made nearly $4 million in pre-sale. However, it will provide an excellent retail trading tool for traders who invest more in the coin.

Meta Masters Guild – Play and earn cryptocurrency