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The Bitcoin price prediction has faced mixed price action in recent days, with the cryptocurrency experiencing multiple uptrends and selloffs.
Bitcoin Prediction Statistical Data:
- Bitcoin price now: $23,123
- Bitcoin Market Cap: $445.7 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
At the time of writing, the BTC/USD pair is trading just above 1.26% at its current price of $23,123, marking a notable increase from recent lows of $22,719 that were set in the early hours of today. However, the kingcoin’s strength is showing little sign of degradation, with bulls aggressively buying every dip as bears struggle to gain momentum. Meanwhile, the medium-term crypto trends will no doubt depend heavily on whether or not it can break above $24,000.
Bitcoin Price Prediction: What to Expect from Bitcoin (BTC)
Bitcoin price is trading marginally at its current price of $23,123. Although this marks a significant rally from the opening price of $22,836, it is important to note that this could mark a bull-friendly break above the upper channel boundary.
Meanwhile, as a technical indicator, the Relative Strength Index (14) is likely to return to the overbought region, a sustainable move inside this barrier could locate the nearest resistance at $24,000, reaching this may allow for an extended rally towards $27,000 , $28,000 and $29,000 respectively. Conversely, any bearish movement towards the lower boundary of the channel can force the price of Bitcoin to 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, BTC/USD should rally above the 9- and 21-day moving averages to mitigate any near-term bearish pressure and allow for an extended rally towards $23,500. Further resistance may be found at $24,500 and up.
Conversely, the closest support is at $23,000, and a sustainable move below this level can add to the downside pressure and push the price towards the $22,000 support level or below. Considering that the Relative Strength Index of the technical indicator (14) could turn higher as the signal crosses above the 50 level, therefore, traders can expect more bullish signals to come into focus.
Bitcoin Alternatives
According to the daily chart, the Bitcoin price is likely to resume the bullish move, but for this to become concentrated, the king coin may need to recapture the $24,000 resistance level. However, Meta Masters Guild (MEMAG) is another crypto that benefits traders. This token is this year’s fastest growing Play-to-Earn guild. As a result, it will be the largest mobile game guild on Web3. It is possible to develop games that are entertaining and intriguing and that work with NFT. And there, members of the community receive rewards for their investments and speculations. Nearly $2.5 million has already been raised during the MEMAG pre-sale.
Meta Masters Guild – Play and earn cryptocurrency
- Innovative P2E NFT Game Library To Be Released In 2023
- Free to Play: no entry barriers
- Putting the fun back in Blockchain gaming
- In-game rewards, bets, NFTs
- Real world community of players and traders
- Round One of Token Sale Live Now – memag.io
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