BTC/USD could drop below $22,500

join our Telegram channel to stay up to date on breaking news coverage

Bitcoin price prediction reveals that BTC has yet to gain strength above the channel as the king coin could risk new support.

Bitcoin Prediction Statistical Data:

Bitcoin price now – $22,987
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 – Range (Daily Chart)

Key levels:

Resistance levels: $28,000, $30,000, $32,000

Support levels: $19,000, $17,000, $15,000

Looking at the daily chart, BTC/USD is likely to cross below the 9-day moving average before heading towards the 21-day moving average. The Bitcoin price could start another decline if the bulls fail to push it above the upper limit of the channel. At the opening of today’s trading; The king coin touches the $23,181 resistance level, but any further bearish movement may push it into the bearish zone.

Bitcoin Price Prediction: Will Bitcoin (BTC) Go Lower?

As the price of Bitcoin moves sideways, the slide towards the lower boundary of the channel could start to show bearish signs below the $22,500 and $22,000 levels. However, if the market makes further losses, the price could touching major supports at $19,000, $17,000 and $15,000. Meanwhile, the technical indicator Relative Strength Index (14) is moving below the 70 level, suggesting bearish signals in the market.

On the other hand, if the king coin crosses above the upper limit of the channel; A move to the upside could start, and the main resistance could be located around the $25,000 level. A clear break above this level could push the price towards the $28,000, $30,000, and $32,000 resistance levels.

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

According to the 4-hour chart, the coin may regain lost momentum if it breaks above the 9- and 21-day moving averages, but at this point, volatility still holds and selling pressure may focus, which could lead to currency down. Meanwhile, $22,000 and below may be located if BTC breaks below the lower boundary of the channel.

BTCUSD – 4 hour chart

However, if the buyers can reinforce and power the market, traders can wait for a retest at a resistance level of $24,000, and breaking this level may allow the bulls to reach the resistance level of $24,500 or higher. The Relative Strength Index (14) is moving below the 50 level, which shows that the market can go sideways.

Bitcoin Alternatives

Bitcoin price is likely to follow the bearish move, but the king coin may recapture the $24,000 resistance level if the bulls return to the market. However, Meta Masters Guild (MEMAG) is another crypto that 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.

Meta Masters Guild – Play and earn cryptocurrency