join our Telegram channel to stay up to date on breaking news coverage
After touching the daily high of $21,795, the Bitcoin price prediction shows that BTC has yet to create a further bullish move; no quick recovery seems possible at this time.
Bitcoin Prediction Statistical Data:
- Bitcoin price now: $21,651
- Bitcoin Market Cap: $418.3 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 likely to fall further as the king coin remains below the 9-day and 21-day moving averages. The buying strength of the first digital asset slowly faded after it pulled back from the $24.262 resistance level it touched earlier this month. However, the Bitcoin market remains sensitive as the price remains in the clutches of bears.
Bitcoin Price Prediction: Would Bitcoin Ride the Downtrend?
Bitcoin price is currently trading below the 9-day and 21-day moving averages. If the bulls try to push the market price up slightly, then BTC could see some relief in price action and attempt to move closer to its crucial $23,000 resistance level. Meanwhile, BTC’s market cap falls sharply, indicating that the selling force could build in the market, and Bitcoin (BTC) could fall to the critical supports of $25,000, $27,000, and $28,000 respectively.
However, if BTC/USD continues to trade near the $21,000 support level, the king coin could see another price crash, but a bullish move above the $22,000 level can push the price to the $23,500 resistance level. Meanwhile, the key breakout zone could be located near the $25,000, $27,000, and $29,000 resistance levels. On the other hand, if the currency does not go north, the first drop may be $21,000 and then $20,000. The Relative Strength Index (14) moves below the 50 level, which suggests bearish signals in the market. .
BTC/USD Medium Term Trend – Range (4-hour chart)
Bitcoin price is currently below the 9-day moving average, bringing its price from $21,741 to a daily low of $21,620. However, if the price falls further, it could reach the support level of $20,500 or lower.
However, if the bulls push the coin towards the upper limit of the channel, the Bitcoin price could reach the potential resistance level of $23,000 or more. The market is currently trading lower as the Relative Strength Index indicator (14) is hovering around the 30 level.
Bitcoin Alternatives
According to the daily chart, Bitcoin price is yet to show a tremendous move above the $22,000 resistance, therefore the king coin is likely to drop further if it crosses below the $21,000 support. token called MEMAG is still doing well in the market as almost $4 million has been raised in pre-sale so far. Therefore, investors are encouraged to invest before the end of the pre-sale.
Meta Masters Guild – Play and earn cryptocurrency
- Innovative P2E NFT Game Library To Be Released In 2023
- Free to Play: no entry barriers
- Putting the fun back in Blockchain gaming
- In-game rewards, bets, NFTs
- Real world community of players and traders
- Round One of Token Sale Live Now – memag.io
join our Telegram channel to stay up to date on breaking news coverage