BTC/USD at risk; Price comes to $23k minimum

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The Bitcoin price prediction is consolidating and appears to be gearing up for the next move below the 9-day and 21-day moving averages.

Bitcoin Prediction Statistical Data:

Bitcoin price now: $23,100
Bitcoin Market Cap: $446.2 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

At the time of writing, BTC/USD is trading at $23,100 with sideways movement in the last 24 hours. Bitcoin price is holding at its current levels with bullish momentum fading on lower timeframes. BTC/USD was unable to break the $24,000 resistance level with the current consolidation pattern as it fails to cross the upper boundary of the channel.

Bitcoin Price Prediction: Bitcoin (BTC) Could Spark a New Rise

Bitcoin price is likely to cross below the 9-day moving average; however, this is seen less and less with each failed breakout attempt as the Relative Strength Index (14) technical indicator moves to cross below the 70 level. Meanwhile, on the next positive move, it is likely that BTC exceeds the channel. Bitcoin (BTC) starts the day trending up north only to turn around and fall lower to trade back within the moving averages.

However, if the king coin heads lower, the first support level could be located around $22,000. Below this, supports lie at $20,000, $19,000, and $18,000 respectively. However, the current daily candle has yet to close, so it looks like the bulls may end up closing above the channel, as potential resistance levels can be found at $27,000, $28,000, and $29,000.

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

Looking at the 4-hour chart, BTC/USD may need to cross above the 9- and 21-day moving averages and head towards the upper boundary of the channel to mitigate short-term bearish pressure, which could hit the nearest resistance. . $23,500 level. However, potential resistance levels could be located at $24,500 and above.

BTCUSD – 4 hour chart

Meanwhile, if the king coin slips below the lower boundary of the channel, the nearest support may come at $22,500, and a sustainable move lower may add to the downside pressure and push the price towards the support level. at $22,000 or less. However, the Technical Indicator Relative Strength Index (14) is moving in the same direction below the 50 level, suggesting a sideways move.

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Bitcoin price touches the daily low of $22,966 and the king coin is likely to resume downtrends if the market price crosses below the 9-day moving average. Meanwhile, due to its high rates of return on investment, the Meta Masters Guild (MEMAG) token benefits traders. This token is this year’s fastest growing Play-to-Earn guild. As a result, it will be the largest mobile game guild on Web3. It is possible to develop games that are entertaining and intriguing and that work with NFT. And there, members of the community receive rewards for their investments and speculations. Nearly $2.5 million has already been raised during the MEMAG pre-sale.

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