BTC/USD May Pull Back Above $24,000

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The Bitcoin price prediction shows that BTC is moving from the opening price of $22,763 as buying interest may increase closer to $23,000.

Bitcoin Prediction Statistical Data:

Bitcoin price now: $19,335
Bitcoin Market Cap: $370.6 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: $27,000, $28,000, $29,000

Support levels: $20,000, $19,000, $18,000

BTC/USD is moving sideways as the coin establishes a cross above the $23,000 resistance level, but is currently within the overbought region. Buyers may look for some resistance levels if the king coin heads towards the upper boundary of the channel.

Bitcoin Price Prediction: BTC Price May Consolidate Within Channel

In the last few hours, after the price of Bitcoin started rising, the king coin is now facing the $23,000 resistance level and expects to recapture the $24,000 resistance level. However, the daily chart reveals that if the average 9-day moving average remains above the 21-day moving average, this will confirm the next direction the coin will go. In other words, BTC/USD may fall if the $22,000 support is broken, but the price could go higher if the $24,000 resistance is reached.

At time of writing, the Technical Indicator Relative Strength Index (14) remains above the 60 level to indicate a bullish move. Therefore, if the price of Bitcoin crosses above the upper limit of the channel, it could reach the resistance levels of $27,000, $28,000 and $29,000, but any movement towards the lower limit of the channel could reach the supports of $20,000. , $19,000 and $18,000.

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

According to the 4-hour chart, the price of Bitcoin is likely to rally above the 9-day and 21-day moving averages as the technical indicator’s Relative Strength Index moves above the 40 level. From above, if the price of Bitcoin crosses above the moving averages, the bullish influence could increase and the retained gains would increase enormously.

BTCUSD – 4 hour chart

However, the current candle could pull back below the channel and target the support level of $22,300 or lower, but the bulls may need to stay above the resistance level of $23,000 and keep their attention on breaking potential resistance. of $23,700 or more.

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Looking at the chart, it appears that the Bitcoin price is likely to break down. However, we cannot say that this is a breakout because the bullish momentum is not strong enough to push the market away from the current price level. Meanwhile, a better new signal platform for crypto called MEMAG: Meta Masters Guild has made close to $3.5 million in its pre-sale. It will provide great retail trading tools to traders.

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