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The Bitcoin price prediction shows that BTC is trading around the $22,786 resistance level as further bullish movement could ensue.
Bitcoin Prediction Statistical Data:
- Bitcoin price now: $22,786
- Bitcoin Market Cap: $436.8 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: $26,000, $27,000, $28,000
Support levels: $19,000, $18,000, $17,000
BTC/USD touches the resistance level of $22,979 during the European session today, but the king coin is at the time of writing hovering around $22,786 after falling from the daily high. Furthermore, Bitcoin’s next destination is likely to depend on the bulls’ ability to hold the price above the key support at $22,500.
Bitcoin Price Prediction: Would Bitcoin Go Up or Down?
Bitcoin price remains intact above the 9-day and 21-day moving averages; however, a further pullback looks imminent and a break below the 9-day moving average is likely. Looking at the chart, meanwhile, $19,000, $18,000, and $17,000 serve as the major support levels, leaving room for BTC to drop if bears enter the market. The Technical Indicator Relative Strength Index (14) is still moving within the overbought region, suggesting a sideways move.
However, as the daily chart reveals, if the bulls could push the price above the upper bound of the channel, BTC/USD could see a potential resistance level at $24,000, any further moves could send it to further resistance levels at $26. 000, $27,000, and $28,000 respectively.
BTC/USD Medium Term Trend – Range (4-hour chart)
Looking at the 4-hour chart, bears are likely to enter the market as the coin could slide below the 9-day and 21-day moving averages. Meanwhile, if BTC/USD heads towards the upper limit of the channel, the resistance level of $25,000 and above may come into play.
However, if the price breaks below the lower boundary of the channel and falls further, the support levels of $21,000 and below may come into focus. In the meantime, as the Relative Strength Index (14) plummets below the 70 level, more bearish signals may appear before a bounce occurs.
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