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Bitcoin price prediction restarts uptrend after crossing above the potential barrier of $21,500 to touch the daily high of $21,999.
Bitcoin Prediction Statistical Data:
- Bitcoin price now – $21,888
- Bitcoin Market Cap: $421.7 Billion
- Bitcoin circulating supply: 19.2 million
- Total Bitcoin supply: 19.2 million
- Bitcoin Coinmarketcap Ranking – #1
BTC/USD Long-Term Trend: Bullish (Daily Chart)
Key levels:
Resistance levels: $24,000, $25,000, $26,000
Support levels: $19,000, $18,000, $17,000
BTC/USD is looking green today as the price holds above the $21,500 resistance level from the $20,568 low. However, a daily close above the $22,000 level may push Bitcoin price higher to $23,000. At the moment, all eyes are on the next hurdle above the channel’s upper limit, as a steady rise in prices may encourage more buyers to join the market if the bulls increase their positions.
Bitcoin Price Prediction: Bitcoin Price May Jump Higher
At the time of writing, the Bitcoin price is moving higher at its current price of $21,888.67 with two consecutive bullish days. Based on the daily chart, this marks a significant increase from the opening price of the $20.865 level; therefore, it is important to note that the current price movement can break above the upper limit of the channel.
However, if the market decides to break below the 9-day and 21-day moving averages, the Bitcoin price could go towards the lower boundary of the channel, and before reaching this barrier, traders could have reached support levels. at $19,000. $18,000 and $17,000 respectively. Regardless, any further move higher may take the coin to the resistance level of $24,000, $25,000, and $26,000 as the Relative Strength Index (14) remains within the overbought region, suggesting more signals. bullish.
BTC/USD Medium Term Trend – Range (4-hour chart)
According to the 4-hour chart, Bitcoin price is above the 9-day and 21-day moving averages as intraday trading looks bullish against the upper bound of the channel to reach the $24,000 resistance level and above. .
However, if the buyers fail to continue to push the market higher, traders can wait for a pullback below the $21,000 support level, and breaking below this level can further push price towards the lower boundary of the channel. to reach the support level of $20,000 and below. Meanwhile, the Relative Strength Index (14) crosses above the 70 level, suggesting bullish signs.
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