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The Bitcoin price prediction shows that BTC bounces off the $20,800 support as the coin approaches the $21,500 resistance level.
Bitcoin Prediction Statistical Data:
- Bitcoin price now: $21,185
- Bitcoin Market Cap: $408.9 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: $18,000, $16,000, $14,000
BTC/USD is currently trading around $21,185 down 0.01% after hitting the daily high of $21,300. Bitcoin price may struggle to stay above the important $21,500 level as it could cross above the upper limit of the channel. However, for Bitcoin price to sustain above this barrier, the bulls may need to make the $21,000 support level strong.
Bitcoin Price Prediction: Bitcoin (BTC) May Go Up Again
At the time of writing, the Bitcoin price is seen to be trading above the 9-day and 21-day moving averages, and if it breaks above this barrier, the market price could touch the nearest resistance level of $22,000. However, the king coin needs to reclaim this important resistance level to head higher. Otherwise, the $18,000, $16,000, and $14,000 supports are likely to come into focus.
However, the Relative Strength Index (14) is likely to remain within the overbought region, but the recovery may not be easy, and traders should be aware that support will need to be above $21,000 before trading. target the $25,000, $27,000, and $29,000 resistance levels.
BTC/USD Medium Term Trend: Bullish (4-hour chart)
On the 4 hour chart, the technical indicator Relative Strength Index (14) moves to cross below the 70 level and could rally north of the bulls and pull the market back. Based on the chart, there is a bit of a move to the market as the technical indicator could point higher.
Furthermore, if the price of Bitcoin rises and breaks towards the upper limit of the channel, the market price could reach the potential resistance of $23,000 or more. Conversely, if the current market value falls below the lower boundary of the channel, it can touch support at or below $19,500.
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