BTC/USD is likely to revisit the $21,000 level

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The Bitcoin price prediction is currently consolidating and seems to be gearing up for the next move above the $21,000 resistance level.

Bitcoin Prediction Statistical Data:

Bitcoin price now: $20,869
Bitcoin Market Cap: $401.8 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: $23,000, $25,000, $27,000

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

BTC/USD is seen to be around $20,869, with the current consolidation pattern, the king coin remains above the 9-day and 21-day moving averages. Although Bitcoin (BTC) starts the day off with the intention of trending up, any further bullish move towards the upper limit of the channel could reach the nearest resistance level of $21,000. Meanwhile, any cross below the moving averages could locate the first support level at $19,500. Below this, other supports are at $19,000, $17,000, and $15,000.

Bitcoin Price Prediction: Bitcoin (BTC) May Break Out

Bitcoin price is consolidating around the upper limit of the channel; however, this looks less as the technical indicator’s Relative Strength Index (14) moves into the overbought region. On the next positive move, BTC could break out of the channel as the candle has not closed yet. In the meantime, it looks like the bulls may end up closing above this barrier, as potential resistance levels can be found at $23,000, $25,000, and $27,000.

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

On the 4-hour chart, BTC/USD may need to sustain above $21,000 and move towards the upper boundary of the channel to mitigate short-term bearish pressure so that it can reach the nearest resistance level of $22,000. Nonetheless, this psychological barrier may be closely followed by resistance levels at $23,000 and $25,000.

BTCUSD – 4 hour chart

Conversely, if the king coin heads lower, the nearest support may come in at $19,500 and a sustainable move lower could add to the downside pressure and take the price to $19,000 or below. Taking into account the Relative Strength Index of the technical indicator (14) on the 4-hour chart, the coin is starting to move in the same direction that traders might expect a sideways move.

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