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The Bitcoin price prediction shows that BTC is likely to cross below the 9-day moving average with the daily low at the $22,000 level.
Bitcoin Prediction Statistical Data:
- Bitcoin price now: $22,602
- Bitcoin Market Cap: $436.2 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, $29,000, $31,000
Support levels: $19,000, $17,000, $15,000
BTC/USD is trading sideways above the 9-day and 21-day moving averages as the king coin trades around $22,602. The king coin is likely to resume a downtrend if it crosses below the 9-day moving average. However, until the bulls break out of the upper limit of the channel, the king coin is likely to face a prolonged sideways move or head south.
Bitcoin Price Prediction: Bitcoin (BTC) May Fall and Rise Again
At the time of writing, the Bitcoin price is trading higher with a loss of 0.15% to its current price of $22,602. However, the current market movement could mark a slight drop, and the next few days may push the price to the negative side as it could drop below the 21-day moving average.
However, Bitcoin (BTC) remains above the moving averages, with the bears driving the price south, any further bearish movement towards the bottom of the channel can push the price to the support levels of $19,000, $17,000 and $15,000 while resistance levels could be located at $27,000, $29,000 and $31,000 while the Relative Strength Index of the technical indicator moves above the 70 level.
BTC/USD Medium Term Trend – Range (4-hour chart)
The 4-hour chart reveals that the $23,000 resistance has been too strong for the bulls to overcome as the price struggles in a consolidation mode, and this has caused the cryptocurrency to remain lower. Meanwhile, as the coin trades below the 9 and 21-day moving average, crossing below the lower boundary of the channel could hit support at $21,000 or lower.
However, the price of Bitcoin is hovering around $22,604 as the bulls were unable to push the price above the 9-day and 21-day moving averages. Also, the resistance level of $25,000 and above may come into play if the Technical Indicator Relative Strength Index (14) sustains above the 50 level.
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