BTC/USD fails to stay above the $25,000 level

The Bitcoin price prediction is currently consolidating and seems to be gearing up for the next move above the $26,000 resistance level.

Bitcoin Prediction Statistical Data:

• Bitcoin price now: $24,571
• Bitcoin Market Cap: $472.3 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: $28,000, $29,000, $30,000

Support levels: $22,000, $21,000, $20,000

BTC/USD is yet to hold above the $25,000 resistance level with the current consolidation pattern yet again, as it fails to close above the upper limit of the channel. Bitcoin (BTC) starts the day off trending north only to turn around and fall lower to trade inside the channel again. Similarly, the first support level could be around $24,000. Below this, the supports are at $22,000, $21,000, and $20,000.

Bitcoin Price Prediction: Bitcoin (BTC) May Break Out

Bitcoin price is consolidating below the 9-day and 21-day moving averages; however, this looks less and less likely with each failed breakout attempt as the technical indicator Relative Strength Index (14) remains above the 60 level. On the next positive move, BTC is likely to break out of the channel. Although the candle has not yet closed and it looks like the bulls may end up closing above this barrier, as potential resistance levels can be found at $28,000, $29,000, and $30,000.

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

Looking at the 4-hour chart, BTC/USD may need to rally above $25,000 and move towards the upper boundary of the channel to mitigate short-term bearish pressure on others to reach the nearest resistance level of $26,000. However, this psychological barrier may be closely followed by the resistance level of $26,500+.

Conversely, the nearest support can come in at $24,000, and a sustainable move lower can add to the downside pressure and push the price towards the support level of $22,500 and below $22,500. Considering that the index If the relative strength of the technical indicator (14) is seen moving above the 50 level, traders can expect the king coin to face the upside.

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