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Bitcoin price prediction checks out the $23,000 resistance level as the king coin targets a high of $24,000.
Bitcoin Prediction Statistical Data:
- Bitcoin price now – $23,012
- Bitcoin Market Cap: $443.7 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, $28,000, $29,000
Support levels: $20,000, $19,000, $18,000
BTC/USD is rallying higher as the first digital asset touches the resistance level of $23,165. For the past few days, the price of Bitcoin has been rising to the point of crossing above the upper limit of the channel.
Bitcoin Price Prediction: Would BTC Rise Upward?
At this point, traders could see the Bitcoin price head north as the 9-day SMA trend line moves above the 21-day SMA, preparing to create more upside. However, the Technical Indicator Relative Strength Index (14) is within the overbought region in an attempt to hold back the bullish move.
Meanwhile, a clear break above the $24,000 resistance level could set the pace for a larger rally to the $27,000, $28,000, and $29,000 resistance levels. resistance at $23,000, it could experience a further decline towards the lower boundary of the channel. Therefore, if there is a break below the 21-day moving average, the price could reach the support levels of $20,000, $19,000, and $18,000.
BTC/USD Medium Term Trend – Range (4-hour chart)
According to the 4-hour chart, BTC/USD continues to move sideways as the market signals a bullish move. However, following the recent bounce at $22.783, which is now a key support level, the king coin is expected to hold above the 9-day and 21-day moving averages, as any move below this barrier could locate the support level at $21,500 or below. .
However, considering the recent strong rally, Bitcoin price may continue the bullish move above the $23,000 resistance level. A rally above this level can further push the kingcoin to the $24,500 resistance level and higher. As it stands now, it looks as if the bulls may return to the market as the Relative Strength Index (14) remains above the 60 level.
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