BTC/USD falls 0.46% to 21,431 Support

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The Bitcoin price prediction sees a 0.46% decline in the last few hours as the cryptocurrency fails at $21,899 and could turn lower.

Bitcoin Prediction Statistical Data:

Bitcoin price now – $21,692
Bitcoin Market Cap: $417.6 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: $19,000, $17,000, $15,000

BTC/USD loses its momentum after touching a key resistance above $21,899. At time of writing, the king coin is down 0.46% on the day at $21,692, below the 9-day and 21-day moving averages. Meanwhile, the Bitcoin price may find it difficult to close above $21,700 and if it does, it should be free to rally well above $22,000 if it moves towards the upper limit of the channel.

Bitcoin Price Prediction: Can Bitcoin Price Trade Above $22,000?

After a slightly positive move above $21,800, the Bitcoin price could remain below the 9-day and 21-day moving averages. In recent days, the king coin has been struggling for the bullish move. In today’s session, the Bitcoin price tried to go higher, but sellers entered the market to push the market price down to touch the daily low of $21,431.

Also, if the coin moves lower, $21,000 may serve as the nearest support level, which can likely leave room for the coin to fall further to reach the supports at $19,000, $17,000, and $15,000. The Relative Strength Index (14) remains below the 50 level, which could follow the move lower. Conversely, BTC/USD is likely to face the upper boundary of the channel to reach the resistance levels of $25,000, $27,000, and $29,000.

BTC/USD Medium Term Trend: Bearish (4-hour chart)

On the 4-hour chart, the price of BTC is around $21,647 and is likely to break above the 9-day and 21-day moving averages. However, if the bulls gather enough strength, the move higher may be near the resistance level of $22,500 or higher.

BTCUSD – 4 hour chart

On the downside, immediate support could be located around the $21,300 level, while critical support is at or below $21,000. Therefore, the price of Bitcoin is likely to fall below the lower boundary of the channel if the bears put more pressure on the market. Additionally, the Relative Strength Index (14) continues to move below the 40 level, which suggests a sideways move.

Bitcoin Alternatives

Bitcoin price is moving sideways right now, if the king coin moves above the $22k resistance level then it is likely to resume the up move but if not then there could be more negative moves in the market. However, Meta Masters Guild has become one of the most popular cryptocurrency pre-sales of the year, raising nearly $4.5 million as its pre-sale continues to wrap up the fundraising round in less than five days.

Meta Masters Guild – Play and earn cryptocurrency