BTC/USD Could Touch $22,000 Level as Crashes Likely

After touching the daily high of $21,378, the Bitcoin price prediction shows that BTC could start a downward correction.

Bitcoin Prediction Statistical Data:

• Bitcoin price now: $21,217
• Bitcoin Market Cap: $412.7 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: $24,000, $26,000, $28,000

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

BTC/USD has yet to reach the potential resistance level of $22,000 as buying pressure cools. The market price is around $21,217 to form a low near $21,000 before stabilizing. As of now, the Bitcoin price has yet to break above the upper limit of the channel, but is up 0.38%.

Bitcoin Price Prediction: Will BTC Go Higher Again?

After a strong week for BTC/USD and many other leading cryptocurrencies, traders are now looking for indicators of what could trigger the next bull run. Bitcoin price is likely to face a sideways move, but a decisive break below the $21,000 support could intensify the selling pressure. However, if the bears push the market price lower, the consolidation can turn into a bear run.

Therefore, the current sideways movement is likely to continue according to the technical indicator, but the next hurdle for the kingcoin could emerge at $22,000. However, the Technical Indicator Relative Strength Index (14) is within the overbought region, a reversal is possible, but only if the $21,500 resistance is recovered. Meanwhile, persistence trading above this level can technically push the coin to the resistance levels of $24,000, $26,000, and $28,000, while supports lie at $19,000, $17,000, and $15,000.

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

Looking at the 4-hour chart, Bitcoin (BTC) has yet to break below $21,000, but the price is in the process of recovering. At the moment, BTC/USD remains within the 9- and 21-day moving averages trading around $21,362.94. Therefore, it could take time to cross above the upper limit of the channel.

However, if the bulls energize the market, the price could test the resistance level of $23,000 or higher. In other words, if the bears hold the price and drag it lower, then the $20,000 or lower support level can be visited as the Relative Strength Index (14) moves to cross above the 70 level, indicating a further bullish move.

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